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... they write and under what terms. Excess & Surplus Lines (E&S) carrier...policy term. CONCLUSION We’ve only covered the tip of the iceberg in soft ma...

...ulnerability Standard vs. Excess and Surplus Lines Markets Exp...lling the agent that they needed the coverage and the file wasn’t documented. ...

...ances of personal lines profit in excess of 35%. We have also identified actua...y responsibility to provide the best coverage possible for his or her insureds...

...et. The duty to perform is far in excess of the average retail business, but h...the system we've described should not overwhelm you. It can be as simple as a ...

... of government employees, overtime compensation must be paid in cash. For example, it's illegal to offer an employee a future vacation day in return for working an extra two hours per day for four days. Compensatory time off is prohibited as payment for hours worked in excess 40 hours a week. TRAVEL TIME AS OVERTIME Generally, travel time for business purposes during work hours requires overtime pay, while ordinary home-to-work travel does not. Consider these circumstances: Working While Traveling: Time spent working while traveling is considered compensable work time. ... In my opinion, under no circumstances will a true customer service rep position ever pass the FSLA exemption test. Among the exceptions to the Act, the most frequently applied are the executive, the professional, and the administrative exceptions. An employee who has supervisory authority over other employees and is paid a salary (that is, not paid on an hourly basis) is considered an executive. A professional employee is generally an individual whose work is based on an advanced degree, such as a lawyer or doctor. The administrative exception ... on the witness stand. Here it is: ADMINISTRATIVE EXEMPTION TEST If employees are paid at least $250 per week, or $13,000 annually, they will be exempt from the overtime provisions of the FLSA if: The employees earns a salary. Their primary job responsibility is the performance of non-manual work, and The employee's primary duties include work requiring the exercise of discretion and independent judgment (Donovan v. United Video, Inc., 1984) . Primary Duty Requirement To be exempt under the Administrative Exemption Test, ...

... than five years. Personal/small commercial producers should have at least $135,000 in commissions. Commercial lines producers of medium-sized accounts should have $200,000 to $250,000 in commissions. Producers with large or jumbo accounts should have books in excess of $300,000. Divide the total agency revenues by the total number of producers including the appropriate portion generated by managers and owners if they are also involved in sales. The result should be at least $250,000 in revenues per salesperson. ... Editor , Carol Hammes This content has not been rated yet. ORGANIZING TO SUPPORT THE SALES EFFORT by Carol Hammes At some point, it becomes essential to step back from the situation and evaluate whether the organizational structure and job descriptions are effectively supporting the sales effort. Over the past several years, many insurance agencies have changed their organizational structure and workflow response to automation requirements. They have, in effect, organized their service personnel and procedures to support their computers. During the period of installation and familiarization, there may be no ... the extra time to find what might ultimately be the best strategy for this particular agency. At some point, however, it becomes essential to step back from the situation and evaluate whether the organizational structure and the job descriptions are effectively supporting the sales effort. The primary purpose of every job position in the agency from president to file clerk is to meet the needs of the customer and secondarily, to demonstrate an ability to meet the needs of the prospects. Without these two objectives, the agency has no future. The producers ...

... exist in an insurance agency-but there's more. Because insurance agents are practitioners of a very important service (the protection of client assets), they are charged with a high degree of responsibility in ensuring that client needs are met. The duty to perform is far in excess of the average retail business, but has a kinship with the potentially volatile nature of a CPA firm. Let's continue with our prototype. An Agency Management System' is touted by every hardware/software vendor that services the industry, but automated or not it ... carrier for the general contractor responded to the loss, and then subrogated against the pool contractor. Finding for the plaintiff-who subsequently found another insurance-related resource: his agent's E&O policy. These cases continue to occur, and the failure to obtain the proper coverage represents over 50% of the losses reported to our E&O carriers. They even exceed the secondary category of claims source: Failure to obtain any coverage. Case No.1: Failure to Obtain Any Coverage The insured instructed the agent to review his coverages and determine if ... pay the higher price since he was in the business of servicing Mercedes, Rolls Royce, Jags, BMWs, and other expensive toys. Vandalism occurred over the weekend, and the insured was forced to spend thousand of dollars repairing 11 vehicles left in his care. Primary garage keepers was not in place to respond, but you can guess what was: the agency E&O policy. Failure to obtain any coverage represents 20% of the claims logged by E&O carriers. The cases just cited demonstrate the need for ...

...ed as payment for hours worked in excess 40 hours a week. TRAVEL TIME AS OVERTIME Generally, travel time for busine...ermine whether or not an exemption to overtime pay applies. Lastly, the exemptions to the overtime exemptions are narrowly constru...

... deemed to be earned on the effective date of the policy or endorsement in issue, subject to adjustment in the event of cancellation for nonpayment of premium or other event requiring payment of a return commission. In the event a policy shall be written for a term in excess of one year with premiums paid on an annual or other periodic basis, each annual anniversary of the effective date shall be deemed an effective date. Monthly or other periodic installment billings of premiums shall be deemed to relate back to the effective date of the policy ... insureds by the insurance company, all premiums shall be billed by, and shall be owed to, the Agency; all checks and drafts in payment of such premiums shall be made payable to the Agency; and all money received in payment of premiums shall be turned over to the Agency in the form received and deposited to the account of the Agency. 5. Ownership of Expirations. All insurance business, including renewals, whether property and casualty, life, disability or accident and health, produced by the Producer during the continuation ... his employment shall be written, renewed and serviced through the facilities of the Agency or, if any such business has to be brokered elsewhere, it shall be done only in the name of the Agency and only with the consent of the Agency. All such business produced by the Producer shall be coded or otherwise identified on the Agency books of business so as to indicate its source of production and, where appropriate, shall be further coded or otherwise identified as the Producer's Book of Business; however, notwithstanding such identification, all ...

...cy shall be written for a term in excess of one year with premiums paid on an ...ing sent via Federal Express or other overnight carrier service that requires ...