Procedures

Do you know why that Privacy Notice is on your website? Or are you one of many that haven’t taken the time to even put one there? Would you be surprised to know that this is effectively mandated by federal law?

An agency has both a premium trust account and an operating account at a local bank. The agency owner has been told by some other agents that separate accounts are not necessary. Is this correct? Is it a legal issue or a “best practices” issue?

Over the years I’ve seen many agents spend thousands of dollars on a Procedures Manual,… one you’ve bought…one you’ve paid a consultant to come in and do…or one you’ve struggled for years to implement but can never quite seem to get there. And you know why…

Unless there is a legal requirement, is there a reason to issue a written binder on an account? We posed this question to the VU faculty and got a mixed bag of responses. What do you think?

For years your agency has not followed up on insurer cancellations for nonpayment. Now you feel that you are staffed to be able to do this. From an E&O (or other) standpoint, is this a good idea?

When MVRs are run for underwriting reasons on drivers of a business, the employer often asks the agency for a copy or the agency, perhaps as a value-added service, provides a copy to the employer? Should the agency be doing this?

Many agency owners take great pride in generating low loss ratios year after year. These agencies are often small but very, very profitable. These agency owners are not happy with many carriers who have de-emphasized loss ratios. They cannot fathom why any carrier would not LOVE their good loss ratios. They do not understand that…

This page has evolved from our original Hurricane Katrina Resource Page. Except for a few links to articles available only to IIABA member agencies and paid VU subscribers, all of this content may be used for noncommercial purposes. If you have any questions or suggestions, please email This page has evolved from our original Hurricane…

Over the next several months we are going to explore how you can protect your data from a data breach and what the federal and state laws say you must do to protect it and what you must do in the event of a data breach. Stay tuned while we take you through a process…

When automobile claims come in we always talk to the insured about the benefits of self-insuring the loss if they can, but more and more we are seeing lawsuits being filed for claims sometime down the line. If the insured reports the claim to us (the agency) and we note their account, but they decide…