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... in the past) . Failure to reinvest in your agency will leave a hollow shell by rapidly decreasing the firm's value. The agency owner's role in most medium to large-size firms should be strategic, rather than focused on day-to-day tasks. The employee handling the accounting/bookkeeping will perform all necessary functions, including preparing reports for management. The accounting manager's job description should include a checklist of the tasks that they're expected to perform (see below for sample) . Base all management decisions on how they will impact the value of the ... carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability to attach leads and clients to your specific market searches, with e-mail alerts for all the market, articles, blogs and ... pressures make financial management critical in order to provide the owners with the same personal income and value for their stock as in the past. All well-run agencies exhibit certain financial management characteristics. Financial management starts with a comprehensive analysis of revenue, expenses, assets, and liabilities. Periodic review of financial statements should include a comparison to past performance, future budgets, and industry standards. A well-run firm always displays good control over all expenses. Compensation expenses (which account for two-thirds of all costs in the average agency) are reviewed ...

... O claims. I commented that the majority of claims seem to involve either sales staff or CSRs. After all, they're the people most involved in consummating the transaction and delivering the insurance policy. However, the agent was somewhat surprised when I added that receptionists and bookkeepers do from time to time commit an error that results in an E&O claim. First, a few comments about CSRs and producers. In most agencies, the CSR is the individual who deals most extensively with the public. Because sales staff don't make ... in the file or on the computer system that the policy had a midterm cancellation in effect. No area of an agency is immune from an E&O claim. Circulate this article to your non-insurance personnel and let them know that it's critical to perform their duties professionally and accurately. This article originally appeared in the Utica National Insurance Co. E&O Bulletin and is reproduced with permission. Curtis M. Pearsall, CPCU, AIAF can be reached at Utica National Insurance Group, P.O. Box 530, Utica, NY ... , (800) 274-1914, fax (315) 734-2807, or e-mail [email protected] . Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will ...

...list for the accounting manager/bookkeeper to follow. Good communication betw...

...ained in invoices. The agency's bookkeeper or accounting personnel can prepare...ent. Submit the information to the bookkeeper or enter it directly into the cl...

...mputer file and sends checks to bookkeeper. 26. CSR deletes all follow ups (i...

... I added that receptionists and bookkeepers do from time to time commit an err... critical to perform their duties professionally and accurately. This artic...