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... business. Assets mean nothing to creditors; cash flow pays the bills. When so...ensure that all possible avenues of theory and strategy have been explored.

... to an attorney immediately for collection. Waiting only makes matters worse from a collection standpoint. When Should You Collect? New and Renewal Business. The producer must tell the insured exactly what the collection policy of the agency is, how it works, and that company credit procedures do not allow the agency to make exceptions. The producer must collect at least 25% or more of the premium with this binder. (Make sure insureds understand what is meant by needing this amount now to bind the contract.) If the binder is ... collection system. This person should be the bookkeeper, financial manager, or another individual in the accounting department. Do not involve the producer in collecting unpaid premiums. A producer cannot be the good guy' who develops a friendly relationship with the insured and then the bad guy' at collection time. What Are the Steps to Developing an Effective Collection System? 1. Appoint a responsible collection manager. 2. Establish a list of key accounts (the agency's largest and best accounts), which are not subject to automatic collection ... , if not collected when charged, may end up being due at the end of the policy period, when it's likely they cannot be collected. Why Must Every Agency Establish a Goal Concerning Collections? There are three reasons why this is important: 1. Bad debts are bottom-line losses. 2. Large account receivable balances reduce interest income. 3. Unpaid accounts turned back to the company indicate bad management practices to the company, often resulting in canceled contracts or stricter underwriting attitudes. Let's look at the steps that occur during ...

...s, how it works, and that company credit procedures do not allow the agency to...er sent Direct notice of cancellation or picks up policies to return company for flat cancellation 15 DAYS: Date agency responsible for paying premium These letters may be...

...ebt, including mortgage payments, credit card bills, and car loans. These aren...tants, bankers, financial planners, insurance, etc.-no segment has as broad a ...

...rth. Some may show signs of shaky credit; others may indicate they're ready to... household. This becomes especially important when mailing expensive items suc...

... apart from an employer's pension or retirement fund. Pre-retirees, the report continued, allocate an average of 11% of household income to retirement savings, 13% to savings of all kinds, and an average of 35% to household debt, including mortgage payments, credit card bills, and car loans. These aren't just dry numbers; these are large groups of real people with (or without) plans for living and retiring comfortably. They need help in planning and organizing their financial lives. Many types of advisors would like ... Each is related to the others. Each niche includes pure insurance as an integral part, but each may also include more than insurance, such as investments, tax planning, retirement planning, and money management. Each of these niches is important in good times and bad, and each undergoes changes frequently enough that ongoing expertise is important. Just as important, the client can readily see why these niches are important and can appreciate the need for help. And each of these niches will be permanent needs which will survive any changes ... savings account, or annuity, apart from an employer's pension or retirement fund. Pre-retirees, the report continued, allocate an average of 11% of household income to retirement savings, 13% to savings of all kinds, and an average of 35% to household debt, including mortgage payments, credit card bills, and car loans. These aren't just dry numbers; these are large groups of real people with (or without) plans for living and retiring comfortably. They need help in planning and organizing their financial lives. ...

... and fewer agencies are extending credit to clients by being loose on collect...s doesn’t depend on the weather. Rain or shine, they’ll keep finding ways to ...

...ss history. If it is, much of the credit should go to Dwight C. Minton, the CE... who make decisions. This is just one more reason to make loyalty a priority.

... any, paid, payable or allowed as credit to the insured, provided that the pre...facts and statements hereby and heretofore disclosed by the Sellers to the Buy...