Developing young talent to become successful young agents is not easy. Chris Burand, president of Burand & Associates, an insurance agency consulting firm, estimates that the new producer failure rate is as high as 70% to 80%. Other estimates have …
The Wimbledon tennis tournament had the foresight to buy around £1.5 million (US$1.9 million) per year in pandemic insurance following the SARS outbreak in 2003, said GlobalData in a recent bulletin. Paying out roughly £25.5 million (US$31.7 million) in premiums …
The way our industry and the persona of an insurance agent is portrayed by the public. I find the amount of inefficient methods for quoting and maintaining policies to be lazy and agitating. Constantly having to deliver bad news as …
I’m shocked, just shocked that you’re suggesting that during a crisis that insurance companies might in fact be considered the villains. I’ve never heard that before.” That’s Richard Levick speaking. Levick, who has a public affairs, crisis and reputation risk …
While consumers may have more time to consider their insurance needs during this period of stay-at-home orders and non-essential business shutdowns brought on by the nationwide COVID-19 pandemic, they aren’t necessarily contacting their insurance agents with requests for quotes. Insurance …
Attorneys representing Wyoming coal miners reached a settlement in a class action lawsuit against a bankrupt coal operator. The settlement with Blackjewel LLC of West Virginia requires final approval by a federal judge, The Casper Star-Tribune reports. The lawsuit alleged …
What may be the first U.S. securities lawsuits alleging misdeeds related to coronavirus were filed in late March — one against a cruise line and another against a pharmaceutical company that claimed to have developed a vaccine for COVID-19. There …
Technical issues made it difficult to get information about a tsunami watch for Hawaii and its subsequent cancellation, the National Weather Service said. The brief tsunami watch was canceled in late March after a 7.5 magnitude earthquake struck in the …
The share of businesses buying cyber insurance continued to increase in 2019, driven by growing recognition of cyber threats as a critical business risk, says a new report. Marsh’s 2019 Cyber Insurance Purchasing Trends Report found that 42% of the …
I keep seeing agencies that need dramatic improvements to their accounting practices. Many such agencies are small, but not all. Many are new agencies, although some larger agencies have had shoddy accounting practices for 50 years. Most of the time …
