Declarations
Soundly defeated “We’ve learned that we need not fear voters won’t understand the benefits of credit scoring and will respond on basis of their own interests. I think we had a fairly good idea that we were going to win. …
IIABA president: contingency commission crisis threatens agents
For a small- to mid-sized independent insurance agency, contingency commissions can determine whether the business survives, according to many within the industry. That explains why Alex Soto, a Miami agent who is also president of the Independent Insurance Agents and …
DISABILITY INSURER SIGNS “MODEL” PACT OVER COMMISSIONS
UnumProvident Corp. disability insurance company has ended what New York Attorney General Eliot Spitzer called deceptive practices and secret payments to brokers, according to a $15.5 million settlement announced earlier this month. UnumProvident, based in Chattanooga, Tenn., agreed to pay …
Flying solo now, former Zurich exec ‘gooses’ independent agents
A retired insurance industry executive turned turbo-charged speaker told a group of independent insurance agents that they are the greediest people he has ever met. Ray Thomas, a former Zurich North America Small Business CEO, meant his remark as a …
People, partnerships lead to nearly a century of success
Good people can make or break a company. In San Diego-based Barney & Barney’s case, it’s clearly made it; the company has been in business for nearly a century, thanks to people who have invested their time, knowledge and resources …
SPECIAL REPORT: Surplus Lines
The insurance industry’s excess and surplus lines (E&S) sector has experienced a pronounced reversal of position in the last 20 years. Once considered a mere adjunct, a safety valve for risks that were too hard to cover in the standard …
Truckers seek to slow big-rigs by proposing max speed on truck
A lobbying group for the largest U.S. trucking companies is seeking a 68-mile-per-hour speed limit for newly manufactured big-rigs to reduce crashes and save lives. The goal is to cut “the number and severity of speed-related crashes,” said the American …
Improving efficiency and valuation through automation and outsourcing
Revenue growth, the quality of a book of business, the caliber of producers, strategic drivers and the overall level of client service — these are the typical considerations that affect an agency’s profitability and valuation. But one of the most …
Attract high-end sales with personal insurance shoppers
The future of personal lines is about picking sides. Today’s average auto and homeowners policyholder is shifting from the middle ground to one of two consumer extremes: low service or high. The former considers insurance to be a commodity and …
Where are all the young guns?
Look around you. Take a long look at the folks in your agency or company. And then break out your calculator. What is the average age of your employees or colleagues? What percent of your firm’s workforce were already adults …
