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... other key elements. Will there be enough time to get the respective buyouts accomplished? If there are three owners, all over age 55, who want to start their retirements by age 65, you have a serious problem. Even if the owners are 10 years apart in age, unless there are already some good younger candidates in the wings, when the first one is ready to get out, there might not be enough time to build the necessary depth of willing buyers. It's hard enough to find good producers, let ... want to be paid over a five-year period. I want to retire at age 55 or 60. I want to retire at age 80. I want to keep my car/expense allowance during the buyout period. The agency must continue to rent space in my building for as long as I say. All of the current employees must have a job here as long as they want one. Regardless of their qualifications or experience, my children must have key management and/or ownership positions. I don't think that any of ... not uncommon for a major principal to become so closely associated with the agency that he or she starts to identify with it on a personal level. The longer you do everything yourself, the harder it will be to delegate even the smallest of responsibilities. Ego and habit form a psychological barrier that makes it increasingly more difficult to share clients and decision-making with even the best of potential successors. This phenomenon is even more pronounced when family relationships enter into the business environment. The tendency to put off perpetuation planning until tomorrow has been ...

... other key elements. Will there be enough time to get the respective buyouts accomplished? If there are three owners, all over age 55, who want to start their retirements by age 65, you have a serious problem. Even if the owners are 10 years apart in age, unless there are already some good younger candidates in the wings, when the first one is ready to get out, there might not be enough time to build the necessary depth of willing buyers. It's hard enough to find good producers, let ... want to be paid over a five-year period. I want to retire at age 55 or 60. I want to retire at age 80. I want to keep my car/expense allowance during the buyout period. The agency must continue to rent space in my building for as long as I say. All of the current employees must have a job here as long as they want one. Regardless of their qualifications or experience, my children must have key management and/or ownership positions. I don't think that any of ... not uncommon for a major principal to become so closely associated with the agency that he or she starts to identify with it on a personal level. The longer you do everything yourself, the harder it will be to delegate even the smallest of responsibilities. Ego and habit form a psychological barrier that makes it increasingly more difficult to share clients and decision-making with even the best of potential successors. This phenomenon is even more pronounced when family relationships enter into the business environment. The tendency to put off perpetuation planning until tomorrow has been ...

... has only to make a business decision. Finally, the checklist demonstrates your professionalism to the client. Once you've initiated a discussion of the risk-management process with them, you're in a position to talk about insurance and non-insurance methods of dealing with risk. This sets you apart as a competent professional able to present alternatives, rather than the stereotypical salesperson interested only in making a sale. This builds the strong trust relationship that's essential for a long-term relationship. The beauty of this activity is that almost all systems have built-in account checklists and ... never write a Commercial account without inspecting the risk. This applies to both new business and renewals. If the account is too small to inspect, you would be better off not writing it. If an insured does something you don't know about, or if the building has features not considered, you might fail to advise the insured properly. Take photos of the front, rear, and sides of the property; if possible, take some inside. Diagram the premises and highlight any special processing. Have the insured walk you ... : Determine how each of your carriers handles this type of exposure. Get their procedures in writing, and ask them to notify you in writing if they change. Once you know how individual carriers each handle the exposure, you can proceed accordingly; Get in the habit of conveying to the carrier, in writing, instances in which proper notice has not been sent to the various parties involved. In other words, document your file and always leave a trail; If the carrier elects not to notify, ask if you can ...

... has only to make a business decision. Finally, the checklist demonstrates your professionalism to the client. Once you've initiated a discussion of the risk-management process with them, you're in a position to talk about insurance and non-insurance methods of dealing with risk. This sets you apart as a competent professional able to present alternatives, rather than the stereotypical salesperson interested only in making a sale. This builds the strong trust relationship that's essential for a long-term relationship. The beauty of this activity is that almost all systems have built-in account checklists and ... never write a Commercial account without inspecting the risk. This applies to both new business and renewals. If the account is too small to inspect, you would be better off not writing it. If an insured does something you don't know about, or if the building has features not considered, you might fail to advise the insured properly. Take photos of the front, rear, and sides of the property; if possible, take some inside. Diagram the premises and highlight any special processing. Have the insured walk you ... : Determine how each of your carriers handles this type of exposure. Get their procedures in writing, and ask them to notify you in writing if they change. Once you know how individual carriers each handle the exposure, you can proceed accordingly; Get in the habit of conveying to the carrier, in writing, instances in which proper notice has not been sent to the various parties involved. In other words, document your file and always leave a trail; If the carrier elects not to notify, ask if you can ...