Rough Notes

THE TWO-WAY PROMISE

How great would your agency be if 100% of your team did 100% of what they said they’d do? [P]romise making and keeping is   two-way street. And that’s what great teams are all about—giving and taking  to ensure success for all. By Roger Sitkins Have...

Posted: Feb 29, 2024

THE FUTURE OF YOUR CUSTOMER SERVICE

Blending the old and the new [K]eep your eye on what is changing in your environment, how educating the next generation of service professionals is best done, and fighting to protect the quality of customer service that your agency provides. By Paul...

Posted: Feb 29, 2024

AMBIGUOUS POLICY LANGUAGE DEFEATS INSURER

When three workers sought damages after incurring cancer CGL policy wording … [failed] to address harm that takes place over an extended period and that lacks a definitive origin. By Bruce D. Hicks, CPCU, CLU The Court Decisions column is a popular p...

Posted: Feb 29, 2024

MERGER AND ACQUISITION ACTIVITY ACCELERATING

What things look like in the independent agency space during this election year Investors who are still cautious could see their investment in (the insurance distribution) space as a safer way to deploy capital as the market finds its footing. By Jam...

Posted: Feb 29, 2024

WHAT HAVE YOU LEARNED FOR ME LATELY?

It’s training, training, training At a time when our industry is only getting more complex,  … it seems we’re looking at training and education as an expense while considering technology as an investment. By Cheryl Koch, CPCU, ARM, AAI, ACSR, A...

Posted: Feb 29, 2024

NAVIGATING SUCCESS THROUGH STRATEGIC CONNECTIONS AND THE RIGHT NETWORK

Moving from “isolationism” to cooperative consulting The diverse array of challenges and opportunities faced by independent agencies, regardless of their size or sector, has led to a heightened demand for knowledge sharing and insights from those who...

Posted: Feb 29, 2024

Excess and surplus BASICS FOR NEWBIES

Watch for the “will dos” and the “won’t dos” in an ever-changing market E&S coverage isn’t unique to commercial lines accounts. High-risk personal lines accounts, such as homes with too many claims or homes located in disaster-prone areas, are al...

Posted: Feb 29, 2024

DOWN THE ROAD TO DRAGONS

NAIC produces Model Bulletin for Artificial Intelligence Without someone stepping forward to provide affirmative regulation in the public interest to govern the use of AI, we can expect ugly scandals to come. By Kevin P. Hennosy In December 2023, the...

Posted: Feb 29, 2024

Ambiguous policy language defeats insurer

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Ambiguous policy language defeats insurer Sistersville Tank Works since 1984 had been a family-owned and -operated West Virginia corporation. The name “Sistersv...

Posted: Feb 29, 2024

Plaintiffs challenge “wilderness exclusion”

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Plaintiffs challenge “wilderness exclusion” In early 2016, P.E.L. experienced severe mental health symptoms requiring inpatient hospitalization. After her relea...

Posted: Feb 29, 2024

Top 5 Questions You Should Answer About Business Insurance

Know the answers to these questions that your clients or prospects will likely ask  You won’t always have the answers, but prospects and your clients will expect that you do. … [A]lways ensure you take the time to provide accurate responses. By Micha...

Posted: Feb 13, 2024

CONSTRUCTION DEFECTS

Another state supreme court finds coverage under a CGL  [T]he court reasoned that, by applying dictionary definitions to certain terms not defined in the policy, inadvertent construction defects can accidentally cause property damage and thus qualify...

Posted: Feb 13, 2024

GO WHERE NEW TALENT GROWS

Focused opportunity programs exist for insurance and risk management education in high schools and post-secondary education  [W]hen students begin to learn how insurance … impacts their life and their families’ lives and the good jobs and compensatio...

Posted: Feb 02, 2024

OVERCOMING THE FLAWS IN TRADITIONAL WORKERS COMP PLANS

How ADR programs can be a valuable tool By Matthew Jones While workers compensation coverage serves an important role in the construction industry, some fundamental flaws in the design of these programs can lead to higher costs. Construction in New Y...

Posted: Jan 31, 2024

ADAPTING AND SUCCEEDING IN TODAY’S DIFFICULT P-C MARKET

Key strategies to implement now By Dustin Lemick Property and casualty (P-C) insurance agents and brokers have faced significant challenges in the past few years. This has forced industry leaders to adapt to new ways of doing business and has impacte...

Posted: Jan 31, 2024

FINDING GROWTH OPPORTUNITIES

Adaptability, communication, learning can drive success in a tough market By Stephen Hicks It seems that the start of every new year brings new challenges and opportunities and, so far, 2024 has proven no different. We continue to navigate a hard mar...

Posted: Jan 31, 2024

THE TOP FOUR TALENT BLIND SPOTS THAT LIMIT AGENCY IMPROVEMENT, GROWTH

Investing in training and development of talent leads to retention and thus a successful agency According to a recent Accenture study, every dollar spent on training generates a return of approximately $4.53. That’s a 353% ROI! By Brent Kelly I have...

Posted: Jan 31, 2024

DEVELOPING MASTERY—PRACTICE MAKES PERFECT

Seven steps to “mastering” mastery Mastery is one of the best and most successful ways to differentiate your agency. Yes, there is work and discipline involved, but the rewards are many. By Cheryl Koch, CPCU, ARM, AAI, ACSR, AFIS, and Mary Belka, CPC...

Posted: Jan 31, 2024

EVOLVING EXPECTATIONS: PROVIDING MEANINGFUL AGENCY INTERNSHIP OPPORTUNITIES

Meeting potential industry employees where they are Whether your agency has an internship program in place or is considering launching one, it can be valuable to understand what students seek in one. By Grace Grant Word is getting out that Gen Z’s ca...

Posted: Jan 31, 2024

MAKING BEYOND-THE-BOX THINKING THE NORM

Small-town agency “bucks” the system and pushes boundaries By staying attuned to your clients, carriers, industry trends, and emerging technologies, you can position your agency to identify and fill gaps in the market with unique and valuable service...

Posted: Jan 31, 2024

THE INTROVERTED LEADER

Ideas for leveraging your unique strengths Since we are likely quicker to spot and even glamorize the outgoing extroverted leaders, it’s easy for introverts to either look to avoid those opportunities or be overlooked. By Meg Mckeen, CIC I recently c...

Posted: Jan 31, 2024

THE INTELLIGENT REVENUE STREAM

Comulate takes automated direct billing to the next level “[P]artners who once didn’t believe us are now asking if we can help them automate other workflows  they struggle with.” —Jordan Katz CEO and Co-founder Comulate By Lori Widmer One of the most...

Posted: Jan 31, 2024

Stacking of UIM benefits challenged

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Stacking of UIM benefits challenged Kay Franklin’s mother died in an automobile accident caused by a negligent driver. After collecting the per-person liability...

Posted: Jan 31, 2024

Unhappy motorist

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Unhappy motorist On February 3, 2018, Teresa Rose was injured when the vehicle she was driving was struck by an underinsured motorist. Rose was commuting to her...

Posted: Jan 31, 2024

CLOSING THE GAP BETWEEN INTENTION AND ACTION

The keys to getting better at reaching the goals you set for yourself While good at keeping commitments to clients, colleagues and business partners, it seems that we lack that same rigor when it comes to keeping commitments to ourselves. By Kimberly...

Posted: Jan 31, 2024