Strategies

Whether out of fear or the false belief that there’s always more time, most agency owners make the same three mistakes in succession planning.

Is the accidental damaging of the electrical line faulty workmanship or ordinary negligence? Who is liable?

Without a framework to guide decision-making, escalation and accountability, even the most promising AI initiatives risk stalling—or worse, creating hidden exposure.

Here are three practical ways agents can use AI for promotion without feeling overwhelmed or losing control.

The agencies that have adopted artificial intelligence (AI) successfully didn’t start with a big rollout; they started with a conversation with their staff first, then with their clients.

A homeowner had a loss where the HVAC system’s condensate pump failed due to a mechanical breakdown. The HO3 policy with an equipment breakdown endorsement—form 16016—with a separate $500 deductible appears to indicate the condensate pump and the resulting water damage should be covered under the equipment breakdown endorsement. The insurance carrier says otherwise.

Relationships will always remain the heart of the insurance business. But in today’s environment, the agencies that combine strong relationships with operational efficiency will be the ones best positioned to grow.

If insurers have better visibility into whether home devices are active and functioning, they could intervene early, resolve installation or connectivity issues and ensure credits reflect genuine mitigation.

For agency owners contemplating perpetuation, a sale or simply benchmarking their business value, understanding the four trends is critical for business planning.

What are the reporting requirements of a liability claim to the carrier that doesn’t write the underlying coverage?