BANKS, AGENTS, AND PROFITS by Paige Proctor A recent survey by the IIAA and ABA (American Bankers Association) showed that 70% of bankers and 57% insurance agents think they can operate together and...

BEWARE THE OUTDATED SHAREHOLDERS AGREEMENT by Angela Bemiss and Kevin Stipe Published statistics suggest that the damage and personal injury caused by home fires is signifi...

BUSINESS INCOME - EXTRA EXPENSE Dear (Customer Name): If your business is shut down by a fire or other disaster, you want two things: to lose as little money as possible, and to get back to business...

BUSINESS INCOME - MASS MAILER Dear (Customer Name): HAVING FIRE INSURANCE MAY NOT BE ENOUGH! Fifty percent of the small businesses that close down because of major property damage never o...

CALCULATING AGENCY VALUE by Roy Phillips When buying or selling an agency, be sure the price is right: base the value on projected pre-tax profit and an expert's opinion. ...

Ten years ago it took $5 million in total agency revenues and about $30 million in Property/Casualty premiums to land on the top 100 agency list. Now an agency needs to have in excess of $10 million in revenues and $60 million in premiums to make the cut. Ten years ago the average independent agency in the country had $250,000 in total revenues with six to seven people. Today the average is close to $600,000 in revenues, also with six to seven people. To use a phrase from Bob Dylan, "the times, they are a changing."

CONTINGENCIES: WHAT'S ALL THE HULLABALOO? by Rob Ekern The contingencies controversy can give agents a competitive advantage. If I had a thousand dollars for every pound of pape...

CONTINGENT BUSINESS INTERRUPTION Dear (Customer Name): You're in a business that depends heavily on ( ) in order for your revenues to continue. If you depend heavily on one company, you could be he...

CREATE WEALTH BY SHARING IT by John Jaques Over the last several years, I've noticed that higher-value, faster-growing, and superior-profit agencies have a strong willingness to sh...

DIRECT SALES EFFORTS TO POSITIVE GOALS While theres no magic formula for success, your agencycan improve its chance of profitability by implementing a more discipline...