Risk Management Services (RMS) has established a group errors & omissions insurance plan for life and health insurance agents in partnership with Gotham Insurance Co. Applications must be submitted via the entity’s online quote facility; coverage can be bound through …
Policies Subject to Audit. Audits are one of the few E&O exposures agencies have that do not involve a claim. A good method for protecting the agency from audit related E&O claims is to disclose what policies are subject to …
The American Association of Managing General Agents (AAMGA) has decided to expand its membership to include all wholesale insurance professionals, while keeping its original name. Membership will now be open not only to MGAs, but also to managing general underwriters, …
The prior-approval rate regulation of auto insurance is considered an unnecessary and ineffective approach, according to a new industry study. Risk and insurance experts responding to the survey conducted by the Insurance Research Council held the view that prior-approval rate …
Lake Mary, Fla.-based AssuredPartners Inc. posted a revenue increase of 36.7 percent in 2012, compared to 2011 revenue. AssuredPartners, founded in March 2011, grew revenue from $172,316,140 in 2011 to $235,604,040 in 2012. The organization acquired 27 independent insurance agencies …
An interesting case was recently decided by the Georgia Court of Appeals. In Garner and Glover Co. v. Barrett, 738 S.E.2d 721 (Ga. App. 2013), the issue was the duty of an insurance producer to notify an excess insurer when …
Information gathering strategies Unlocking prospect information is a critical skill set that separates the best agents from rest. Recent questions have arisen regarding efficient information gathering. The very best get everything they need from prospects and clients to do a …
What’s your best sales and marketing idea? How do you target new business in your independent agency? Insurance Journal is on the hunt for the best sales and marketing ideas for independent agencies today. How do you research and obtain …
Accepting Payment After Hours. Many agencies continue to accept premium payments even when closed. Customers put their payments through mail slots, under the door, wedged between the door and the door frame, or by some other means. This is perceived …
Marsh has appointed Kevin Tobin to be CEO of its Private Client Services (PCS).Currently chief operating officer of Marsh’s Insurance Services Businesses (ISB) unit, he will assume the role on August 1. Tobin will be responsible for leading this business, …
