IA Magazine

How to Set Your Commercial Clients Up for Success in 2021

Agents and brokers should continue demonstrating high levels of agility and work with carriers to set their commercial clients up for success in 2021. Here are three ways to set both you and your clients up for success.

Posted: Jan 24, 2021

Hit the Road: 3 Ways to Give Truckers Value for Money

While hard market conditions continue within the trucking industry clients continue to shop around for better rates. Here are three ways to assist clients in getting the best rate and coverage to meet their needs.

Posted: Jan 24, 2021

4 Invaluable Product Liability Coverages

While pricing trends in the product liability market are expected to continue to harden in 2021, some may be considering reducing coverage. Here are four coverages agents should consider offering to ensure their clients are adequately insured.

Posted: Jan 24, 2021

To Be Discontinued: Is an ‘Occurrence’ the Date of Installation or Injury?

A pool contractor is insured on a commercial general liability occurrence form and is selling the business. If we cancel the CGL and a claim arises in 2021 but the pool was built in 2020, would the 2020 policy respond?

Posted: Jan 21, 2021

President Biden Unveils COVID-19 Relief Plan

Late last week, President Biden outlined his “American Rescue Plan” providing further COVID-19 relief to the nation. The proposal provides an additional $1.9 trillion in relief, including an additional $50 billion to small businesses.

Posted: Jan 20, 2021

Opportunities Abound for Future-Minded Agencies

Following a year of hardship, uncertainty and loss, the enduring value of the independent agency channel is being put to the test. Future-minded agencies will choose to evolve. Here are four key pillars agencies should look to when creating a transfo...

Posted: Jan 20, 2021

InsurTech Acquisitions Mark the Digital Age with a Bang

Last week, Applied Systems, one of the world's largest providers of agency and brokerage management systems, entered into a definitive agreement to acquire EZLynx. A second announcement from Bold Penguin, a digital insurance exchange, stated it will...

Posted: Jan 19, 2021

Student of the Industry: Is Surplus Lines on a Tear?

Growth rates for surplus lines insurers have averaged 8.8% over the past five years. In contrast, the total p-c market grew at a rate of 4.7%. Most interestingly, surplus lines growth appears to be accelerating.

Posted: Jan 19, 2021

3 Questions to Focus Your Agency’s Marketing Strategy

Access to the right marketing can be the difference between reaching your target audience and missing the mark altogether. Here are three key elements to developing a marketing plan.

Posted: Jan 18, 2021

Business Income Loss: Is an Endorsement Considered Part of the Policy?

An ice storm left an insured without power for five days, leading to a loss of income. They have a commercial property policy with an enhancement that includes business income and extra expense. However, the adjustor is denying the claim because cove...

Posted: Jan 14, 2021

HR Updates for 2021: Legal Changes, Wage Rates and More

The beginning of the new year has brought many new regulations for employers to follow. Affinity HR Group, a Big “I" Hires partner, is tracking legislative updates in each state. Here are some changes.

Posted: Jan 13, 2021

Applied Systems to Acquire EZLynx

Today, Applied Systems, one of the world's largest providers of agency and brokerage management systems, announced that it has entered into agreement to acquire EZLynx, a pioneer in real-time comparative rating and one of the fastest growing agency m...

Posted: Jan 13, 2021

From Surviving to Thriving: How One Agency Adjusted to the COVID-19 Pandemic

Serving the personal and commercial insurance needs of clients throughout the pandemic requires rethinking operations, adjusting communications, and above all, remaining flexible.

Posted: Jan 12, 2021

Keep on Truckin’: Why the Trucking Industry Is Looking to Freight for Success in 2021

As COVID-19 spread across the country the trucking industry lead the charge in quelling consumers appetites for critical goods. As more people continue to work from home and consumer demand continues, haulers of goods continue to be in demand.

Posted: Jan 10, 2021

Burns & Wilcox Launches Cyberman365 to Address Personal Cyber Risks

Burns & Wilcox and Node International launch Cybercrime365, a holistic solution to cybersecurity for the entire household.

Posted: Jan 10, 2021

Don’t Let Ransomware Hold Your Client Hostage

Cybercriminals are becoming bolder in their ransom demands and are using more sophisticated tactics in accessing data systems. As a result insurers are tightening their underwriting practices and raising premium rates.

Posted: Jan 10, 2021

Personal Lines Rates Up 6%, P-C Rates Up 7%

The fourth quarter of 2020 saw the composite rate for personal lines increase 6.3%, reflecting the market's rate acceleration.

Posted: Jan 10, 2021

SBA and Treasury Restart PPP for Small Businesses

Today, the Small Business Administration and the Department of the Treasury officially reopened the Paycheck Protection Program. Only community financial institutions are able to make loan applications this week. The PPP opens to all other participat...

Posted: Jan 10, 2021

Georgia Senate Race Shakes Up Congress

As of press time, Democrats look to have defeated both incumbent Republican Georgia senators thus securing control of the U.S. Senate. Democrats will now control both houses impacting legislative issues critical to agents, brokers and small businesse...

Posted: Jan 06, 2021

Senate Votes to Override Trump Veto of NDAA

Late last week, the U.S. Senate followed the House in voting to override President Trump’s veto of the National Defense Authorization Act. The new law represents a reporting requirement victory for small businesses.

Posted: Jan 06, 2021

Election Update: Georgia Senate Runoffs

On Jan. 5, Democrats prevailed in two Georgia runoff elections for the U.S Senate, effectively completing a Democratic sweep of the White House, Senate and U.S. House of Representatives.

Posted: Jan 06, 2021

Allstate Closes National General Acquisition

Earlier this week, All State announced it closed its $4 billion acquisition of National General, a North Carolina-based property-casualty insurance group. The acquisition, announced in July 2020, sees Allstate expand its personal lines market positio...

Posted: Jan 06, 2021

Big ‘I’ Statement on Violence at U.S. Capitol

Read Big “I" President & CEO Bob Rusbuldt's statement on yesterday's attack on the Capitol.

Posted: Jan 06, 2021

SBA and Treasury Issue Guidance on Revived PPP

Late Wednesday, the Small Business Administration and the Department of the Treasury issued new guidance on the recently revived Paycheck Protection Program. Here is what you need to know.

Posted: Jan 06, 2021

4 Questions to Ask About Your Agency Management System

Shopping for an agency management system to help improve efficiency? Regardless of your circumstances, here are 4 questions to help guide you toward the right solution for your agency.

Posted: Jan 05, 2021