Insurance agents who only focus on homeowners insurance customers are missing a golden opportunity to build long-term relationships with renter customers as their insurance needs grow due to life or circumstance changes—such as having a family or purchasing a home …
Policy Change Requests Can Only Be Made if Requesting Party Has Authority/Insurable Interest. Many years ago when I first entered the industry, I remember an experienced underwriter telling the story of an angry ex-wife cancelling the insurance on her ex-husband’s …
The Value of a Name. Applications are called applications and quote sheets are called quote sheets for good reasons. A quote sheet is only supposed to be for quoting and even then, it is a conditional quote. It is conditional …
There are times when what agents don’t know can hurt them. And this is one of them. I refer to the all-too-often overlooked, and recently targeted, ownership of policy “expirations” — policy, policyholder and account information. At the crux of …
The Affordable Care Act (ACA) has accelerated change and confusion in the health insurance marketplace and businesses and individuals are counting on their insurance agents and brokers to help them understand the nitty-gritty of the ACA requirements. For many property/casualty …
Insurance Journal is on the search again for the best independent insurance agencies in the United States to work for and we hope you will consider nominating your agency today. You must be a current employee of the agency you …
Loss Control Results Usually Require Disclosure. An agency that uses non-carrier loss control services, regardless of whether it is a third-party firm or an agency’s in-house loss control service, almost always has to disclose any recommendations to the carrier. In …
Producers Not Having Adequate Knowledge of their Clients’ Industry. An agency can have all the right procedures and even follow all the right procedures and still not mitigate one of their biggest E&O exposures: Producers writing accounts for which they …
Insurance Journal is on the search again for the best independent insurance agencies in the United States to work for and we hope you will consider nominating your agency today. You must be a current employee of the agency you …
Offering Cyber Liability. Almost without exception all businesses need cyber liability coverage today and yet relatively few have this vital coverage. The exposures can be significant both from an E&O perspective and a regulatory perspective. Therefore, consider offering all business …
