AGENCY FINANCIAL PLANNING: TODAY AND TOMORROW by Carol Hammes There can be little doubt that changes are in the wind in the Commercial Property/Casualty marketplace. Some industry observers have...

FINANCIAL MANAGEMENT IN AN UNCERTAIN MARKETPLACE by Carol Hammes It takes a lot of planning to attain higher growth rates and lower expense levels. The first step in the process is to evalua...

IS EMPLOYEE OWNERSHIP RIGHT FOR YOUR AGENCY? PART II by Carol Hammes Offering your employees the opportunity for agency ownership can help attract and retain quality people. Sooner or later,...

According to an old axiom, keeping an existing customer is much more profitable than spending money going after new prospects. While that's generally valid in any business, it seems especially true in P/C agencies, particularly when management recognizes dozens of related financial services that can flow through a P/C book of business.

Situation: I am a P/C agency principal and I have been pursuing Life and group business for the past few years. The results have been good so far, but I'm getting nervous about liability exposure. First I read about Kentucky agents who are being held liable for unpaid claims written in an insolvent multiple employer welfare arrangement (MEWA).