IA Magazine

8 Ways to Recession-Proof Your Agency

Whether 2023 brings a short, shallow slump or a deep, drawn-out downturn, here are eight ways to recession-proof your agency for the challenges of the year ahead and beyond.

Posted: Jan 27, 2023

Creating Superfans: Share Your Origin Story to Turn Customers into Advocates

Whether 2023 brings a short, shallow slump or a deep, drawn-out downturn, here are eight ways to recession-proof your agency for the challenges of the year ahead and beyond.

Posted: Jan 27, 2023

Scheduling an Unfiled DBA as a Named Insured

The agent listed one part of the insured’s name as “doing business as” (DBA) because it is not a legal entity, but the insured says its a division of the primary named insured corporation.

Posted: Jan 26, 2023

Auto Shopping and Switching at 2-Year High

The quote rate for auto insurance in the fourth quarter of 2022 was 12.1% and the switch rate was 4.1%—the highest levels in the more than two years, according to a J.D. Power report.

Posted: Jan 25, 2023

5 Key Findings from the Agency Universe Study 2022 – ACT Technology Summary

The Technology Summary reveals a number of key insights into the use and adoption of technology by independent agency members.

Posted: Jan 25, 2023

3 Strategies Agencies Can Use to Plan for Uncertainty in 2023

Every agency leader noted that insurance is still a relationship-based industry and agents need to focus on that relationship now more than ever.

Posted: Jan 24, 2023

4 Strategies to Help Accountants Avoid E&O Claims During Tax Season

There are myriad of issues that can lead to a claim against accountants, including missed filing deadlines and disputes over fees and billing, where E&O coverage provides the necessary protection.

Posted: Jan 22, 2023

3 Cyber Insurance Trends That Agents Need to Know for 2023

Today, companies are more aware of their cyber risk and are looking at the insurance market to mitigate that risk.

Posted: Jan 22, 2023

3 Cyber Insurance Trends That Agents Need to Know for 2023

Today, companies are more aware of their cyber risk and are looking at the insurance market to mitigate that risk.

Posted: Jan 22, 2023

Is Nonprofit’s Copyright Infringement Excluded from CGL Advertising Definition?

A nonprofit organization used a copyrighted picture without permission, and the owner demands payment. The carrier says the use doesn't fall under advertising because the nonprofit isn't selling anything.

Posted: Jan 19, 2023

Court Reverses Geico Order to Pay $5.2 Million to Passenger Who Caught STD in Car

The Missouri Supreme Court ruled that, because the insurer was not given the opportunity to intervene in the case before judgement was entered, the earlier court ruling should be vacated.

Posted: Jan 18, 2023

Only 2% of California Homeowners Have Flood Insurance

One of the top reasons Americans don't purchase flood insurance is because they mistakenly believe they are already protected.

Posted: Jan 18, 2023

3 Exit Strategies for Agency Owners in 2023

Determining when and how to transition a business is never an easy decision, but more models exist today that match a variety of circumstances.

Posted: Jan 17, 2023

Agency Nation Meets: Olivia Schmitt

In a new monthly column, get to know insurance fangirl Olivia Schmitt.

Posted: Jan 17, 2023

Agency Nation Meets: Olivia Schmitt

In a new monthly column, get to know insurance fangirl Olivia Schmitt.

Posted: Jan 17, 2023

Triple Net Lease: Including a Building Owner in a Tenant’s Insurance

An insured is responsible for insuring a building under the terms of their triple net lease with the building owner. What is the best way to structure the building owner's interest on our insured's policy?

Posted: Jan 12, 2023

Insurance M&A Activity Slowed in 2022 but Still the Second Highest Year on Record

Despite various economic and political challenges, the number of mergers & acquisitions deals in 2022 meant it was the second-most active year in history.

Posted: Jan 11, 2023

New Video Spotlights Trusted Choice® Relief Fund Assistance

John Costello, Big “I" chairman, and Bob Rusbuldt, Big “I" president and CEO visit member grant recipients rebuilding after Hurricane Ian.

Posted: Jan 11, 2023

House Passes Bill to Cut IRS Funding

The legislation, which passed on partisan lines, was the House Republicans’ first major bill of the year and was one of their top campaign issues throughout the midterms.

Posted: Jan 11, 2023

Financing Insurance Agency Expansion with Debt or Equity?

In the current environment of rising interest rates, it might be tempting to assume equity is the better choice, but many considerations say otherwise.

Posted: Jan 10, 2023

4 Ways Insurance Can Adapt to the New Work Landscape

In the wake of changing attitudes, norms and expectations, here are four things the insurance industry can do to meet new challenges and to better cater to the human needs of their customers.

Posted: Jan 10, 2023

4 Steps to Make Sure Homeowners Have the Right Type of Insurance

Over half (59%) of homeowners are concerned their insurance coverage is insufficient due to inflation and rising replacement costs.

Posted: Jan 08, 2023