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...ge where required for vendors, distributors, public agencies, etc. for otherwi... current values. Protection of liability reserves from appropriation. Thi...

... it's crucial to all insurance distributors. Carriers are looking for premium ... legal structure, such as a limited liability corporation, through which it'll...

... Manufacturers & Distributors Oil or Ga...

...nsurance companies, as well as distributors, consultants, and others. There a...

... more than a decade. The sources of these pressures are numerous, and the ultimate result may be dramatic. The nearly 40,000 independent insurance agents and brokers nationwide have been impacted most. Where's the pressure coming from? For starters, insurance carriers prefer to do business with fewer agents and with higher average premium volume per agent. Let me restate this point because it's crucial to all insurance distributors. Carriers are looking for premium volume. Because most agents produce far less than $10 million in annual premiums, they're finding it increasingly difficult to keep all of their carriers happy. Furthermore, the average agent has experienced top-line growth of less than 5% annually since the mid-1990s. This suggests that growing your way to sufficient premium volume is unlikely. Additional pressure is being applied by technology ... $1 billion in assets can often make the numbers work and might find an acquisition to be the most attractive strategy. Join a consortium. Perhaps the most promising model that has emerged to neutralize the leverage issue is the consortium - as few as a handful or as many as dozens of banks joining forces. This collection of banks will typically establish a separate legal structure, such as a limited liability corporation, through which it'll acquire or partner with agencies to market insurance products. The primary advantage of the consortium is that it gives banks access to, and perhaps shared ownership of, good insurance agencies at a fraction of the capital otherwise required. The cross-selling leverage of the bank is applied to a much smaller capital investment, and returns on equity soar. There are currently several consortiums at ...

... UST's/AST's • "Wet" Endorsements: "In Rem," Gulf of Mexico, & Non-Owned Watercraft • Workers' Compensation • Umbrella Targeted Classifications: Anchor Setting and Cementing Calibration/Reading Cleaning or Swabbing Coal, Gems, Stone, Rock, & Gravel Mining Engineers and Consultants Equipment Rentals/Sales Exploration & Production Hazmat Transportation Lease Operators of Wells Lease Work Construction & Roustabout Operations Manufacturers & Distributors Oil or Gas Well Instrument Logging Oil or Gas Well Perforating Oil/Gas Rig or Derrick Erecting or Dismantling Onshore Engineering/ Construction Pipeline Construction/Dealers Power Generation Pumpjack Repair/Servicing Site Preparation Underground Resources/ Equipment Utility Companies Welders, Pumpers, and Tenders Well Drillers/Servicing Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join ... there is a wide margin for errors. Each individual contractor as well as the company in its entirety needs to be protected from such inevitable risks. Our key opportunities lie within the service equipment arena and the existing oil lease properties. This emerging industry is a great prospect for insurance agents to expand their current book of business and clientele. USG offers coverages specialized for this industry including: • General Liability • Property • Auto • Contractors' Equipment • Inland Marine • Ocean Marine • Pollution/ Environmental • UST's/AST's • "Wet" Endorsements: "In Rem," Gulf of Mexico, & Non-Owned Watercraft • Workers' Compensation • Umbrella Targeted Classifications: Anchor Setting and Cementing Calibration/Reading Cleaning or Swabbing Coal, Gems, Stone, Rock, & Gravel Mining Engineers and Consultants Equipment ...