Idea Exchange

Operational Efficiency Should Be Priority No. 3 for Agency Managers

Managing an independent insurance agency in the current hard economy and soft market requires agents to set priorities. In the Jan. 28, 2009, issue of Insurance Journal, Juan Andrade, executive vice-president for sales and distribution at The Hartford, identified customer …

Changing Demographics Offer a World of Opportunity for Enterprising Agents

Minorities Destined to Become Majority by Mid-Century Before the 21st century reaches the half-way mark, more than 50 percent of the population of the United States will be represented by a vast cultural mix of people considered to be “minorities,” …

Securities Lawsuit Filings Are Up, So What About D&O Pricing?

The pace of securities lawsuit filings increased significantly in 2008 compared to recent years. There were 226 new securities lawsuits filed in 2008, which represents a 31 percent increase over the 172 securities lawsuits filed in 2007, and nearly a …

Systematic Sales Strategy Should Be Priority No. 2 for Agency Managers

In this hard economy coupled with the soft market, most agencies expect sales and revenues to go down. Even the best performers feel the downward trend in premiums. According to Juan Andrade, executive vice-president for sales and distribution at The …

Customer Retention Should Be Priority No. 1 for Agency Managers

In this economy, there are many things that agents should be looking at in terms of how they manage their agencies, but what should be the top priority? Juan Andrade is executive vice-president for sales and distribution at The Hartford. …

Old Insurance Inspection Photos Make Meaningful Gifts

Are you ready for a quick excursion down memory lane? It’s a short trip, so there’s no need to fire up the old DeSoto. Instead, just walk over to your nearest filing cabinet and dig deep into your oldest commercial …

Estimating Insurance Losses From the Credit Crisis

On Nov. 5, 2008, the insurance information firm Advisen issued an updated forecast of insurance losses likely to arise from the credit crisis, estimating aggregate directors and officers (D&O), and errors and omissions (E&O) losses of $9.6 billion, up from …

Estimating the Credit Crisis Insurance Losses

On Nov. 5, 2008, the insurance information firm Advisen issued an updated forecast of insurance losses likely to arise from the credit crisis. Advisen is now estimating aggregate directors and officers, and errors and omissions losses of $9.6 billion, up …

Innovation Necessary for Insurance Industry

As the insurance industry continues to be challenged with softening rates and premiums, innovation is key to long-term success, says Julie K. Davis, executive vice president for Aon Corp.’s Wired for Growth program. Given the challenges of the recession, the …

Markel employees build custom motorcycle

It’s not a secret that Waukesha, Wis.-based Markel American Insurance Co. insures motorcycles and other recreational vehicles, but it is a surprise that its employees are accomplished builders of motorcycles. The company recently announced the completion of the custom board …

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