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... Support Is Crucial 4/30/2013 12:00:00 AM by CompleteMarkets Editor , david goodwin This content has not been rated yet. Is your agency benefiting from the following? The demutualization of some of our nation's largest, oldest mutual Life companies, and announcements that more will follow. In contrast, others are declaring that they will defy the trend and not demutualize. Introduction of Critical Illness Survivor coverages to the United States, after landslide acceptance in other key countries. Equity Index Annuities, a means of profiting when the stock market rises, with a built-in cushion protecting profits when Wall Street adjusts' downward. Long-Term Care (LTC) insurance. New rates and new concepts in Life, Health, and Group insurance. Life carriers' problems in retaining producers, recruiting new ... , and improving sales, which have been largely flat for years. Each of these items, taken alone, represents a potentially lucrative marketing and sales opportunity for P/C agencies. A combination of any two or three of them should call for a serious marketing campaign. Put them all together- today's situation, never to be repeated- and you're looking at golden opportunities begging for serious attention. But there's more. Add these current events: The ongoing- some say permanent- soft P/C market Reduction or elimination of contingency income as we once knew it P/C agencies' profit squeeze Merger/acquisition/cluster movements Banks in insurance The return of one-stop financial services, with more clout than ever Online availability of pre-insurance, products, and services Agencies need to show profit ...

... equipment; dress and appearance; illness/accident procedures; and office sup...

...emutualize. Introduction of Critical Illness Survivor coverages to the Un... insurance -- and perhaps even some critical inquiry about why the coverage wa...

... OR SPOKE? You'll need to decide whether your agency's goal is to become a hub or a spoke. "Hub" agencies recognize that the most valuable part of a book of P/C business lies not in its profitability but its cross-marketing potential. Just for openers, a commitment to selling Life insurance can double an agency's bottom line. Adding such related products as Annuities, Long-Term Care, Critical Illness, and charitable-contribution programs can grow revenues even further. You can also build on the two-legged base of P/C and Life by rounding out your portfolio of programs: Real estate, mortgages, travel, and loss prevention can all come together, each service providing leads to the others in the family. This isn't theory. Plenty of agencies nationwide are using cross selling to fuel their ... . In a hub agency, although the P/C book produces a smaller percentage of the much larger revenue, its principals control the P/C and overall operations. Being a "spoke" agency, on the other hand, puts control in the hands of non-P/C people. For example, nearly 20 years ago three Life producers decided to buy a P/C agency simply to use its Life leads. It worked so well that they expanded into mortgage banking, followed by stock brokerage, and other financial services. These Life agents recognized what many P/C principals don't see: The cross-marketing potential in a P/C book. CROSS-SELLING PROGRAMS THAT WORK Whether you go the spoke or hub route, you must make a firm commitment to a cross-selling program — now ...

... (EPL) insurance. A company's employee manual might have several chapters devoted to maintaining sensitivity toward others' differences, giving equal treatment to all persons, and showing respect to everybody, but it might have little influence on what actually occurs in the business. If a worker misbehaves, the company will bear the consequences unless it has EPL coverage. This protects the company against damages arising from inappropriate criticism, demotion, evaluation, reassignment, discipline, defamation, harassment, humiliation, discrimination, or termination of any employee or any personnel practices, policies, acts, or omissions. EPL coverage grows more popular every year, and insurance companies offer competitive premiums to attract business. Some EPL policies have added risk-management services that provide such assistance as loss-prevention specialists, helpful literature, and procedures to protect ... 15/2014 12:00:00 AM by CompleteMarkets Editor This content has not been rated yet. Workers Comp policies go by the official name of Workers Compensation and Employers Liability policy. With employers eager to assure their injured workers of recovery benefits, it's easy to overlook the Employers Liability' aspect of this policy. It's there to protect the insured employer against liability arising from physical injury and occupational illness claims not covered by Workers Comp. Once one learns of Employers Liability coverage's limitations, the value of adding Employment Practices Liability coverage to the program becomes obvious. Employers Liability vs. Workers Compensation The Employers Liability section resembles a Commercial General Liability (CGL) policy, defending the employer against claims and paying the employee, dependents, or others if the employer is found negligent. This coverage reflects ...

... All Back Poor Company Service: The Antidote 4/30/2013 12:00:00 AM by CompleteMarkets Editor , Chris Burand This content has not been rated yet. Get your companies to listen to you — for your mutual benefit. Recent research has revealed that all company employees receive a vaccine on their 121st day of employment that prevents them from hearing what agents say. This vaccine is critical to their psychological health. Imagine what would occur if they actually took to heart all the complaints, suggestions, demands, and criticisms provided daily by agents. Imagine how quickly they'd descend into the depths of depression if they actually cared when tears rolled down agents' faces while they deplored the latest commission cut. The vaccine is key to their survival. What's this secret vaccine? Agents everywhere ... many agency owners. They decide that they'd rather just gripe, which is why company people get their vaccines in the first place. Are you strong enough to handle Agent's Kryptonite? ADVERSE REACTIONS Agents are often appalled at the thought of having to educate companies about their own best course. This side effect is widespread and to be expected. However, a little discomfort now could help prevent a major illness or even death. Company employees have reported nausea, fever, chills, and other flu-like symptoms upon receiving the antidote. Such symptoms usually subside after leaving the agent's office. The antidote won't work on many company people. Given its great expense, use it only on the most receptive prospects. PRECAUTIONS Recognize that some companies are beyond saving. Don't endanger yourself by trying to help them. ...

...ts as Annuities, Long-Term Care, Critical Illness, and charitable-contribution...well with such leads. Critical Illness Survivor. This product has many a...

... coverage. For this reason, it's critical to compare several options before m...ance but cannot see a doctor due to illness or disability. While it is true t...

...what agents say. This vaccine is critical to their psychological health. Imagi...mfort now could help prevent a major illness or even death. Company employees ...

...arily remain behind to shut down critical plant equipment. Means of alerting ...