Privacy Compliance. It’s not serious until you get caught, right? The normal individual human reaction to complex laws and laws that defy relatively easy compliance is to acknowledge their existence, give them lip service, and generally ignore them. Complex laws …
MarshBerry, in partnership with Insurance Journal, has launched its 28th Annual Market & Financial Outlook Survey. This exclusive survey compiles anonymous general agency information along with financial, market, carrier and technology data and then summarizes the findings in a State …
The majority of insurance agencies (77 percent) directly attribute their fiscal growth during 2012-2013 to the use of technology, according to a new industry survey. The survey, conducted by Vertafore at this year’s NetVU (Network of Vertafore Users) conference, was …
Carriers can be instrumental in helping agencies grow through referrals, expanded coverages, and clear business line or geographic expansion planning Despite the challenges facing the industry and the broader economy, two thirds of independent agents report that their firms grew …
Carrier Rating Notifications. What responsibility does an agency have to notify clients of carrier ratings? On new business, it is a good idea to list the carrier’s rating. However, if the carrier has an A.M. Best rating of less than …
Personal Lines Liability Limits. If an agency has only offered a client $100,000 liability and they have a $300,000 claim, what do you think the answer will be when, on the witness stand, their attorney asks them whether they would …
Chances are just about every town in the United States has a restaurant, tavern or pizza parlor. Pursuing this type of risk, then, is common. Yet before taking that first step, do your homework to help you understand that these …
E&S Binding Limits. Extremely few, if any, retail agencies have any binding authority whatsoever with their E&S brokers. This is such a simple E&O tip that most readers probably see it as a complete waste of blog space. My field …
Mobility technology is changing the way the insurance industry operates. But when it comes to working on the go, nothing is as important as mobile device applications. But what apps do independent agents use most? What apps are the most …
If you asked 100 insurance professionals on the agency side what one line of business “scares” them the most, it’s likely that directors and officers (D&O) liability would be at the top. The lack of standardization of policy forms contributes …
