COMPANY PAYMENT OBLIGATIONS by the IIABA Virtual University Faculty In this document, the IIABA faculty examines a case in which an insured's account renewed in May, but the policies weren...

Do you regularly negotiate such contractual issues as commission rates, growth goals, etc. with your companies?

Congratulations to the 57% who responded, “Yes!” Based on those positive responses, it appears that agencies of all sizes are negotiating. Negotiations aren't limited to larger agencies. If these agents weren't succeeding in their negotiations, even in a hard market, they'd be giving up. Although 57% is a good percentage, I'd love to see this number keep growing. If you aren't negotiating contractual issues with your companies, isn't it time to begin?

Dear Dave:

Our agency has hired a full-time Life producer to handle Personal Lines only. We believe we have enough accounts to justify that move. She tested well for personality and potential, but she is fairly new in the Life business. She is closing about one out of four presentations, which sounds fine for a relative beginner, since the closing average for all agents is about one out of three. But since she deals with many Mortgage policies and writes reducing Term policies at fairly low premiums, the bottom-line dollars are low. We need to create more cash flow. What can you suggest?

QUALITY CUSTOMER SERVICE DO WE WALK THE TALK OR JUST TALK? by Al Diamond At least once a month we encounter an agent with the unique problem of losing more customers than theyre ...

P/C agents often have reviewed contracts and leases in conjunction with writing Contractual Liability coverages. In many cases, agents will advise clients to reject hold-harmless clauses which place undue hardship on them. Yet insurance agents themselves may be in the grip of hold-harmless clauses, which could lay immense financial burdens on them, even if they are totally innocent of any wrongdoing. We refer to the producer or general agent (GA) contracts of some-not all! -- Life carriers. Unfortunately, some of these carriers are among the best-known career or brokerage companies and, even worse, agents often aren't aware of the poisonous clauses until it's too late and they're sued.