Agency Operations

Nancy Germond, Big “I” executive director of risk management and education, is a second-generation insurance professional who has written scores of risk-management articles and a book on workers compensation.

An agency is considering adding language to its agent of record (AOR) letter advising that the agency is not responsible for any deficiencies that exist in the coverage until it has a reasonable chance to review the coverages.

The increase in catastrophic events and higher loss ratios has the potential to significantly impact agencies’ profit sharing, revenue, carrier appointments and other valuation factors.

While preventing every cancellation is impossible, a well-executed process can save clients and retain more business.

As agency managers strive to perpetuate their agency, here are key areas to focus training and administrative efforts to reduce errors & omissions exposures.

In her short insurance career, Stafford has acquired the certified professional insurance agent (CPIA) designation and was recognized as a 2023 Young Agent Mover and Shaker by Insurance Agents & Brokers (IA&B).

Osuyah’s first venture into insurance was in 2004 when he purchased his mother-in-law’s Allstate agency. He quickly realized that this was not the right road for him and decided to go the independent agency route.