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...mary carrier the flexibility and capacity necessary to insure the underwritten...cialty products offered by the Gulf Insurance Group. The use of PAs will add t...

... a sales, service, and financial capacity, the more value you’ll eventually have. PLANNIN...e agency’s goals while dealing with minor personnel or company issues before they become major. An ignored spark can easily turn into a big f...

.... Second, there's plenty of capacity. Put in the simplest terms, lots of ...oducers could wake up representing one-or, in a few cases, forming one. The people who take a long...

... part of the cyclical nature of the insurance industry. At one time, these cycles occurred fairly consistently at about seven year intervals. However, the last significant hard market came in the mid-80s. A hard market is characterized by increasing rates and/or reduced industry capacity, which leads to affordability and/or availability problems. In addition, both underwriting and claims adjusting usually become more stringent. In the current marketplace, these conditions are exacerbated by increased uncertainty about such loss exposures as terrorism, mold, etc., and ... Hammes 3/1 /2018 12:00:00 AM 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." All Articles by CompleteMarkets Editor Comments (0 ) Overcoming Prospects' Objections This content has not been rated yet. CompleteMarkets Editor 2/27/2018 12:00:00 AM All producers know that overcoming objections is part of the selling process. However, many forget that making objections is just as intrinsic to the buying process. To identify the root causes of objections, ...

...re of an entity's loss-absorbing capacity is its revenues. Annual flow of doll...tablish the TLL, after which insurance or other risk transfer should be specified for risks in excess of this amount and retention for lower risks.

... a genuine specialty program, only a limited number of insurance companies have: The understanding or desire to compete for the class of business The rates or forms necessary to rate or insure the exposures properly Individual reinsurance treaties in place to give the primary carrier the flexibility and capacity necessary to insure the underwritten class Keep in mind that standard reinsurance treaties, like standard ISO forms, exclude certain Liability and Property exposures, which in turn restrict the underwriter's ability to compete for many classes of business. For the most part, a program offers ... specialty applications) to underwrite and compete for the business properly. PAs will attend conventions and generally ask their agents to man the booths with them. Sharing association endorsements with the producer is another way to share in a marketing effort. And, unlike the wholesale or Excess & Surplus Lines facilities, PAs pay more commission to the producer. Before devoting time and energy to a program, the producer should ask the PA what his or her renewal retention has been for the past three years. A stable and profitable program will have ... renewal ratio of around 90% . There are many ways of finding a PA. Most programs are listed in periodicals such as Rough Notes and the Crittendon Report, and most advertise in trade journals. Talk to the marketing representatives of your standard insurance companies. In our program, Travelers marketing and underwriting personnel are familiar with the specialty products offered by the Gulf Insurance Group. The use of PAs will add to the profits and retention of your business. Thomas S. Gillingham is president of Gillingham & Associates, Inc., ...

...e by the Sellers not only in the capacity of the Sellers as employees of the B...facts and statements hereby and heretofore disclosed by the Sellers to the Buy...

... year. These agency owners know what has to be done. And they seem to have fun while creating a business with significant residual sales value. Whether your plans are to sell internally or externally, the stronger your firm from a sales, service, and financial capacity, the more value you'll eventually have. PLANNING AND THE ABILITY TO ADAPT TO CHANGE Successful insurance agents recognize the importance of planning. Yes, we know that the vagaries of the market make this more than a little difficult. But it's primarily because of these ... Editor , Carol Hammes This content has not been rated yet. 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 ... Characteristics of the Most Successful Independent Agencies 3/1 /2018 12:00:00 AM by CompleteMarkets Editor , Carol Hammes This content has not been rated yet. 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 $ ...

... your needs? Is it of sufficient capacity and quality to handle your book of b.... They can provide an excellent basis for long-range planning. This enables each principal to perform the duties he or she is best at and likes most. That...

...he business The earnings capacity of the business The dividend-paying capacity of the business Goodwill or other intangible assets of the business...ured businesses are owned by the agent or a family member.) Dependence on a specific industry for revenue Status of any litiga...