williamjones

​Lucky is the insurance agent whose commercial client’s state of residence never changes and all their employees live and work in that same state. But, of course, life is never that simple.

A time will come when agency owners must decide whether they will sell externally to a third-party buyer or sell internally to family or key stakeholders.

Financial literacy and fundamental business acumen are two of the most glaringly absent competencies among agency principals.

Any business where the threat of physical harm could occur on or near the premises has an assault and battery exposure. It is not limited to liquor stores, restaurants and bars.

A client has been very belligerent to agency staff throughout the years yet still stays with the agency. If the agency gives a 60-day notice, can it non-renew this client?

Private equity (PE) buyers are responsible for 77% of the publicly reported acquisitions in the independent agency system. However, there are some prevalent misperceptions about PE buyers.

Inadequate limits are an all-too-common claim in independent insurance agency E&O. And with inflation today outstripping even the inflation guards inserted on some policies, these claims are becoming more frequent.

What is your firm’s culture? It might include a compelling value proposition or describe how you provide the best service or have cutting-edge technology. But what about your sales culture?

When it comes to leadership, chopping wood and carrying water is an easily adopted outlook.

Keith Mann, COO/CFO at Scott Insurance, talks about how the 100% employee-owned agency uses the Big “I” Best Practices Study to incrementally strengthen the business with the data and benchmarks.