Strategies

How do you explain how a wind or hail buyback policy works? And is a deductible applied to these types of policies?

​A carrier is adding BP 04 71 Exclusion – Volunteer Workers to every business owners policy, even on BOPs for contractors. The agent doesn’t understand why a carrier would want this exclusion on an entity with little to no volunteer exposure.  In C. Who Is An Insured, the BOP includes: Your “volunteer workers” only while performing duties related…

Independent agents can transform how customers perceive value in insurance, guiding them through a challenging and evolving market.

By Mia McGowan ​For many insurance customers, the first encounter they have with your agency is through your website. This initial impression sets the tone for your relationship with potential clients. A strong, easy-to-navigate website not only highlights the professionalism of your agency but can also help build trust. By focusing on user-friendly navigation, you can increase…

By Scott Freiday In the highly competitive and evolving insurance landscape, independent agency owners face a unique set of challenges and myriad capital needs to sustain their growth. As we head into 2025, there is a greater sense of urgency for agencies to invest in technology and talent and make strategic mergers & acquisitions (M&A). The average…

An admitted carrier in Texas tried to nonrenew a commercial umbrella policy that was due to renew in 30 days. However, the Texas insurance code says insureds must be notified of a nonrenewal 60 days before renewal. When the agent mentioned this, the carrier said it would extend coverage for another 30 days and then…

By Alicia Chandler ​​The recent rate cuts by the Federal Reserve have prompted more agency owners to think about ways to grow their businesses. With the cost of borrowing starting to ease, many agency owners feel now may be the time to take a chance on new growth initiatives aided through debt financing. Not all lenders are…

The industry must begin to rebuild relationships, truly committing to providing a better customer experience through transparency, education and innovation.

Improving technology is a determining factor for many carriers as they look to employ a strategic response to a sustained rise in claims frequency and severity.

Nonprofit organizations face many of the same legal exposures as for-profit organizations, including conflicts of interest, breach of fiduciary duty and theft.