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...e Act, which also applies to the aviation, railway, marine, and pipeline indus...t a 50% frequency rate (25% for the aviation and railway industries).  ...

... from small mom-and-pop agencies to the mega-brokers. Just how large do you expect your agency to become? What are your growth expectations? How many producers do you expect to have? How will you manage them? Can you demonstrate to a new carrier that you have an aggressive marketing and sales management program? If not, why would a carrier want to do business with you? It costs a company money to maintain an agency appointment. Unless the agency knows how it's going to develop and send business to the company, why get involved? DEFINE YOUR STRATEGIC CUSTOMER Agencies serve a wide variety of customers. Does your business plan define your strategic customer adequately? Does it focus on Personal Lines, Small Commercial, Large Commercial, or Specialty Lines: Workers Compensation, Construction, Ocean Marine, Aviation, etc.? Don't even think about a new carrier until you've defined your customers and their wants and needs. You must define your customer's wants and needs clearly to understand their exposures and what coverages and services they're most likely to need. Think beyond product and price. Think about managing the entire risk for your customer. This will help you create a model that shows how exposures are likely to be addressed — risk avoidance, financing, control, or transfer. This helps you define the specific coverages needed from your new carrier. DEFINE YOUR MARKET TERRITORY Where are your customers located? Are your strategic customers concentrated in your city, or located nationwide, state-wide, regional, or international? This is important because you need to define the market territory so you can look for companies ...

...expertise: Health care Aviation Sports and entertainment H...

...ion, Construction, Ocean Marine, Aviation, etc.? Don’t even think about a new ...

...ns have high technical skills in aviation, automotive, steel, and automation, ...

... the Property, Casualty, Surety, Aviation Inland Marine, and Ocean Marine worl...

...certain type of account, such as aviation or poultry farms. They use aut...

... in a U.S. agent receiving a larger commission and anticipating a similar type of revenue in servicing a subsidiary of a Canadian account. Unfortunately, the premium account size tends to be much smaller for Canadian accounts, which leads to limited interest by some U.S. agents. The Canadian decision-making process tends to be faster. Insurers on international accounts and generally larger accounts will respond within 30 days. The process in the United States is usually much longer (60 to 90 days) because of the detail required and multi-state involvement. REVERSE FLOW BUSINESS: ON THE RISE "Reverse flow" business-involving domestic subsidiaries of foreign parents-is playing an increasingly important role in the international insurance market. These accounts will continue to grow as smaller to medium-sized U.S. accounts expand into Canada. Canadians have high technical skills in aviation, automotive, steel, and automation, competing actively on a global basis. For example, all of the Ford Windstars for the North American market are now made in Oakville, ONT. Such economic activities result in Canadian IMMS member brokers working with IMMS member agents in the United States to insure these accounts. This business can be expanded in Life & Health insurance, pension consulting, and possibly placement of insurance in emerging third-world countries. Such nations as Argentina, Brazil, Chile, China, the Czech Republic, Malaysia, Mexico, Thailand, and Vietnam are on a fast track for economic development. This growth offers a perfect opportunity to expand the IMMS network, with U.S. and Canadian members leading and coordinating the Commercial accounts for business extended or originating in these countries. MAKING ...

... in a U.S. agent receiving a larger commission and anticipating a similar type of revenue in servicing a subsidiary of a Canadian account. Unfortunately, the premium account size tends to be much smaller for Canadian accounts, which leads to limited interest by some U.S. agents. The Canadian decision-making process tends to be faster. Insurers on international accounts and generally larger accounts will respond within 30 days. The process in the United States is usually much longer (60 to 90 days) because of the detail required and multi-state involvement. REVERSE FLOW BUSINESS: ON THE RISE "Reverse flow" business-involving domestic subsidiaries of foreign parents-is playing an increasingly important role in the international insurance market. These accounts will continue to grow as smaller to medium-sized U.S. accounts expand into Canada. Canadians have high technical skills in aviation, automotive, steel, and automation, competing actively on a global basis. For example, all of the Ford Windstars for the North American market are now made in Oakville, ONT. Such economic activities result in Canadian IMMS member brokers working with IMMS member agents in the United States to insure these accounts. This business can be expanded in Life & Health insurance, pension consulting, and possibly placement of insurance in emerging third-world countries. Such nations as Argentina, Brazil, Chile, China, the Czech Republic, Malaysia, Mexico, Thailand, and Vietnam are on a fast track for economic development. This growth offers a perfect opportunity to expand the IMMS network, with U.S. and Canadian members leading and coordinating the Commercial accounts for business extended or originating in these countries. MAKING ...

... with the same E&S broker on Aviation, Marine, and Products Liability acco...