The insurance industry is at a crossroads. A significant portion of the workforce is nearing retirement (of almost one million licensed agents and brokers, the average age is 45.9 years old, according to Agent Methods). Although the Big “I” and other insurance organizations reach out to the younger generation, many show little interest in joining the field. In short, the insurance brain drain I…
We are all busy, I get it. However, with coverage and court decisions changing at lightning speed, we all need to stay up with current court decisions and coverage issues. For your reading pleasure, in this article we recommend several important insurance newsletters penned by various authors.
With today’s hard market, more agents place business with the surplus lines market. This article provides a basic overview of the importance of the surplus lines market, and some pitfalls to avoid when working in the surplus lines environment.
While Symbol 1 of the Commercial Auto Policy should cover “any auto” your insured drives, there are no guarantees that 1) Your carrier will allow this coverage on all or any of your insured’s vehicles, and 2) that the carrier won’t add an additional audit charge at audit after an accident involving “any auto.” Often…
If you’re a newly licensed producer, or transitioning from a customer service representative to sales, figuring out where to start in the sales process is key to your success. Here are 10 top tips you can use now to build your book of business.
The Oxford Dictionary defines spoliation as “the act of ruining, destroying or spoiling something,” according to. In short, it means that something that should be kept is lost, destroyed, or not considered valid due to an improper chain of custody post loss. Spoliation claims are growing, and this article covers some of the ways insurance…
Manufacturers both large and small position their products into the consumer market, whether food, supplies, or equipment. Normally, rigorous testing helps to ensure the product is safe. However, end users may not use the product in the manner intended, or the product may contain a faulty part or an unforeseen choking hazard to child, for…
Every insurance policy has exclusions. In this article, we discuss the six main reasons for policy exclusions. This article covers those reasons and provides a few warning tips for insurance agents regarding disclosure of exclusions to policyholders.
You may wonder why the insurance industry is so heavily regulated. Let’s take a look at the main reasons the states regulate insurance. Because business owners, the economy and industry depend so heavily on insurance, the regulation of insurance is vital to national business interests. This article covers some basic insurance regulations impacting us as…
As you handle more complicated commercial accounts, you’ll need to understand some often-used financial terms. Whether you’re furnishing your commercial insured’s financial data for underwriting or renewal or responding to audit assistance, here are the top financial terms you should know.
