When an agency owner decides to sell, there are a plethora of buyers to choose from. A seller should narrow down the options to two or three before serious discussions take place. The next step is to obtain from the …
In a letter to the Treasury’s Federal Insurance Office, the National Association of Insurance Commissioners expressed its “deep concern” over a proposal to collect data on climate-related risks from property/casualty insurers, and its disappointment that insurance commissioners have not been …
The U.S. property/casualty industry posted a combined ratio of about 106.6 in the third quarter — the highest in five years, according to an analysis by S&P Global Market Intelligence. “In addition to the effects of catastrophe losses on various …
The struggle to fill vacant positions at Conrade Insurance Group is real. Two slots remain open after the Kansas-based agency spent more than six months trying to fill them. Underscoring the challenges, a new hire even changed his mind at …
Even before waves of people quit their jobs in the wake of COVID-19, brokers and agents struggled to find and retain good talent as the workforce continued aging out. Challenge has led to opportunity, however, with creative and sensible practices …
Professional boutique agencies are the solution, the only real solution, for all those producers who compete against big shops, insurtechs that use bots rather than humans, and those with low price/low quality commodity price distributors. My light bulb moment, when …
December is the perfect time to reflect on lessons learned over the last 12 months, and how to apply them in the new year. Hiring and recruiting is universal. We can learn a lot from one another. For this column, …
The dark days of the pandemic are finally easing for the healthcare industry, bringing much needed insurance capacity back for directors and officers (D&O) and employment practices liability insurance (EPLI) coverage after underwriters effectively shut down to new business or …
Formal hazard assessments at restaurants are key in reducing worker injuries and insurance claims. In recent years, however, a sizeable number of companies have not conducted the required inspections, according to a recent survey. In the Marsh survey, 49% of …
Every business hits one or more plateaus during its development. This is normal, natural, and predictable. What once worked no longer works — at least as well as it used to work. I call this getting “stuck” because like a …
