Many agency problems arise over claims. The agent’s duty to report claims to the carrier can be one area that can generate many different scenarios and opinions. Failure to timely report a claim to the insurer can generate an errors and omissions claim or can damage your relationship with your insurer. Recommending your insured report…
According to Insurance Thought Leadership, it costs a business seven-to-nine times more to acquire a new customer than to retain a current client. So why aren’t today’s agents focusing more on cross-selling? This article examines ways to cross sell, with a thorough list of cross-sell coverage opportunities.
The Oxford Language Dictionary defines a Catch 22 as “A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions. A new West Virginia law that allows employers to voluntarily cover post-traumatic stress disorder in frontline responders is just that – A Catch 22.
Are you losing clients to online insurance carriers? Do you worry that an issue of inadequate limits, coverage gaps, or payment snafus can expose your agency to an errors and omissions claim? This article reviews some of the important issues your clients and your agency face in managing their personal and business risk.
“I’m an insurance agent, not a lawyer. Why do I need to know so much about contract law?” This is a question almost every new insurance employee asks, especially once they begin taking classes toward a designation. The CPCU 410 Speaking the Insurance Language course contains an entire chapter on contract law. This article will…
As agents and broker scramble to hire, whether hiring the right fit or promoting from within, is easier if you test knowledge before making that employment offer.
According to the National Association of Insurance Commissioners (NAIC), increasing federal attention is on state departments of insurance. This report focuses on resources and regulatory activities of NAIC members. These members include the following. – The 50 states – District of Columbia, – American Samoa – Guam – Northern Mariana Islands – Puerto Rico -…
The Big “I” Technical Affairs Committee (TAC) is one of the least publicized committees among the groups that work to improve agency operations and solve many types of insurance issues. TAC met with Insurance Services Office (ISO) in 2022 with a full agenda of suggested coverage wording enhancements and changes. Read on to see how…
Are your clients’ workers’ compensation claims failing to close in a timely manner? Given the injury, does it seem like the claim drags on, with no clear plan of action or solution? Does your insured suspect that an employee is malingering? Social media investigations are an investigatory tool that can help close even the oldest…
Whether you are new to using social media to increase customer engagement or want to increase new business leads, how you communicate across the multiple social media platforms is critical. Whether you’re a seasoned veteran of tweeting and other platforms or you’re just dipping your toes in the social media waters, this article provides ten…