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 …
Cyber security risks have become more worrisome to large organizations than traditional natural catastrophe risks, according to a new study released today. The study, titled “Managing Cyber Security as a Business Risk: Cyber Insurance in the Digital Age” and conducted …
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 …
The American Association of Insurance Services (AAIS) has added three new positions to its staff. Scott Sheldon, an auto insurance product manager who spent 13 years with GEICO, has been named vice president for auto insurance at AAIS, where he …
Claims Draft Checks. Not many agencies have claims draft authority any longer, which I consider a positive change relative to what it was 20 years ago. However, a few specific insurance companies continue to believe draft authority is an important …
How are agencies targeting new business today? What do agencies want most from carriers? And just how much are agencies growing in current market conditions? These are some of the questions that a new industry survey plans to answer. Participate …
Mailing Certificates of Insurance. You should always do what companies tell you to do because they always look out for the agent, right? If an agency issues a certificate of insurance that affects the cancellation of an insurance policy in …
A huge amount of press has been devoted to how important price is to insurance buyers — and it clearly is. But this is not specific to insurance. Price is a key factor in almost all buying decisions, excluding medical …
One industry segment ideal for the program market and somewhat immune to the effects of a battered economy is the fast-food, multi-unit restaurant franchise industry, the experts say. The larger a company grows, the slower its rate of growth. But …
The workers’ compensation market is seeing encouraging signs. Premiums grew for the second consecutive year, the combined ratio declined and claim frequency continued to improve at a pace slightly greater than its long-term historic rate of decline. In 2012, the …
