Following the “WannaCry” ransomware cyberattack in at least 140 countries, insurers, brokers and cyber risk management specialists are working with businesses to report claims, improve and expand existing cyber insurance coverages, and implement cybersecurity best practices. This is the second …
“I’m being bought out!” “We’re merging with an agency five times our size that will take our revenue to a whole new level!” While expressions of excitement like the ones above might be music to the ears of an owner …
It seems agencies today have more challenges than ever. Below are three tips to reduce errors and omissions (E&O) exposures. 1. Send Certificates of Insurance I would love to share with you a story regarding a multinational company that demanded …
Recently, a client of ours had two producers leave to start their own agency. The impact on the agency was significant. These two producers generated about half the agency commissions. The owner was scrambling to adjust to the change. Producers …
My dad was a fighter pilot. He flew a P-47 Thunderbolt, one of the heaviest fighter planes ever built. The aircraft was equipped with eight 0.50-calibre machine guns, four per wing, which were an absolutely devastating combination. The Thunderbolt carried …
The National Flood Insurance Program (NFIP) has been the topic of much debate in recent years, especially with the program set to expire on September 30. The NFIP is administered by the Federal Emergency Management Agency and is available to …
“When the eyes say one thing, and the tongue another, a practiced man relies on the language of the first.” — Ralph Waldo Emerson Agents pride themselves on their sales skills — to meet a prospect face-to-face, take their measure, …
Like Big Brother, California’s Department of Insurance is watching you. Okay, perhaps not literally — and certainly not all of you, but the department definitely has its antennae up when it comes to the business of brokers and agents, particularly …
One of the worst sentences a contract attorney’s clients can hear when that attorney is opining on some onerous clause is absolutely the phrase: “I can win this in court.” For example, when a carrier gives an agency a new …
(Top Seven Problems You Really Want to Solve) Agency owners with an entrepreneurial spirit want to grow their agencies, but staff makes it difficult. Many have said, “It’s like herding cats.” Here’s a list of producer problems: • Problem #1 …
