https://completemarkets.com/Article/article-post/2349/AGENCY-VALUATION-MERGERS-ACQUISITIONS-IS-IT-A-NEW-DAY/
... — banking. The net impact of these changes will vary from bank to bank. Most will continue as active acquirers of agencies, even if there's a short lull in the pace of activity as banks concentrate on their core operations, while letting the rapid changes in the insurance business settle down. While the stock price of banks has generally declined, the stock price and market capitalization of the alphabet houses, especially those who are active acquirers of agencies, have gone up significantly. Brown & Brown, HRH, and Gallagher have all enjoyed huge increases in their market cap since January 1st. During the same period, the S&P 500 has decreased almost 20% . Although some of the increases in these valuations are due to superior management skills, it's clear that investors believe that the ... ) Life/Financial Services Management Marketing Marketing Agency of the Month Organizational Profiles Personal Lines Planning Questions & Answers Risk Management Selling Specialty Lines Technology Uncategorized Choose a Content Package All Member Content IMMS Library Jack Burke LIG Marine Managers USG Insurance Services, Inc. NIF Group Inc. PRS High Hazard/High Risk Workers' Compensation Business Insurance Insurance for Individuals and Families Personal Finance Theo Walker Search Titles only Search author Search Titles and content Show Results Loading.. Similar Articles Sample Telemarketing Scripts Let's Talk About Agency Procedures Again Agency Bill Vs. Direct Bill: Avoid Confusion Cross-Sell Letter Beyond The "Alpha Split": New Ways To Distribute Work Loads Content Packages This article is part of the IMMS Library , which contains more than 2451 documents published by industry-leading authors. (Hidden) Categories Benefits & Financial Services ( ...
https://completemarkets.com/Article/article-post/261/Are-Your-Producers-Subsidized/
... . If a producer had an 85% hit ratio on new business, new sales would be almost as profitable as renewals in most agencies. Even with higher profits, a producer's repeat sales (renewals) usually aren't profitable enough to turn an agency's loss into a profit. In fact, our studies have found that some agencies spend as much as $1.70 for every renewal commission dollar earned! HOUSE BUSINESS Because renewal profits alone can't support producer's new sales, another key source of subsidies is house business. House business is usually the most profitable because no one gets a commission on it. It helps to subsidize the entire agency, especially producers with small books. OWNER SUBSIDIES In many agencies, renewals and house business combined still aren't profitable enough to cover losses on producer-generated business. Many owners ... ) Life/Financial Services Management Marketing Marketing Agency of the Month Organizational Profiles Personal Lines Planning Questions & Answers Risk Management Selling Specialty Lines Technology Uncategorized Choose a Content Package All Member Content IMMS Library Jack Burke LIG Marine Managers USG Insurance Services, Inc. NIF Group Inc. PRS High Hazard/High Risk Workers' Compensation Business Insurance Insurance for Individuals and Families Personal Finance Theo Walker Search Titles only Search author Search Titles and content Show Results Loading.. Similar Articles Sample Telemarketing Scripts Let's Talk About Agency Procedures Again Agency Bill Vs. Direct Bill: Avoid Confusion Sample Broker-Of-Record Letter Cross-Sell Letter Content Packages This article is part of the IMMS Library , which contains more than 2451 documents published by industry-leading authors. (Hidden) Categories Benefits & Financial Services (53) Commercial Lines (93) Communications (629 ...
https://completemarkets.com/Article/article-post/2025/HOW-TO-BUY-SELL-MERGE-OR-PERPETUATE-PART-VI/
... closely held businesses. This chapter focuses strictly on special factors that can affect agency value, many of which are unique to insurance agencies. Agency owners should be aware that even the best CPA or business appraiser is unlikely to be aware of these factors unless you, the agency owner, make a point of explaining them. It's Not That Simple! We all know that although the value of a house is ultimately based on what the buyer and seller agree upon, we also know that a reasonable starting place is often the price for which similar homes in the neighborhood have recently sold. We also know a realtor can greatly simplify the process. This might seem difficult to some, especially those who have never bought or sold a house before, but it's child's play compared to valuing an agency ... PERPETUATE PART VI A Comprehensive Look at the Best Ways to Handle the Biggest Events in the Life of Your Agency by Larry Morrison and Gary Jacobson Editor's note: This article is one of a series that covers buy/sell arrangements for agency valuation and tax issues, shareholder internal buy/sell agreements, related estate planning, employment contracts and non-competes. It's part of a unique pre-publication book by the authors that gives you practical street-level understanding of one of the most significant financial events in the life of your agency. CHAPTER 3: SPECIAL FACTORS WHEN VALUING AN AGENCY Although we discussed agency value in general terms in earlier chapters, this is a huge topic with many special factors that affect agency value in ways that don't impact most closely held businesses. This chapter focuses strictly on special factors that can ...
https://completemarkets.com/Article/article-post/2039/WHEN-YOUR-CUSTOMERS-COME-CALLING-THE-RIGHT-WAY-AND-THE-WRONG-WAY/
... insurance. Customer: Is this the Price Agency? Receptionist: Yes, it is. Customer: I'd like to speak with Janice Schubert. Receptionist: Who's calling? Customer: Jim Hollings. Receptionist: May I ask what this is in reference to? Customer: Well, I'm interested in a Homeowners policy. We're moving here from out of state and we've just signed a contract on a house we want to buy. I need to get insurance arranged before the closing date. A friend of mine gave me Janice's name. Receptionist: I'll transfer you. (Janice's line is busy, so the receptionist decides to give the call to Ella, Janice's assistant.) Receptionist: Ella, Line 2. Ella: Hello. Customer: Hello. Is this Janice Schubert? Ella: ... ) Life/Financial Services Management Marketing Marketing Agency of the Month Organizational Profiles Personal Lines Planning Questions & Answers Risk Management Selling Specialty Lines Technology Uncategorized Choose a Content Package All Member Content IMMS Library Jack Burke LIG Marine Managers USG Insurance Services, Inc. NIF Group Inc. PRS High Hazard/High Risk Workers' Compensation Business Insurance Insurance for Individuals and Families Personal Finance Theo Walker Search Titles only Search author Search Titles and content Show Results Loading.. Similar Articles Sample Telemarketing Scripts Let's Talk About Agency Procedures Again Agency Bill Vs. Direct Bill: Avoid Confusion Sample Broker-Of-Record Letter Cross-Sell Letter Content Packages This article is part of the IMMS Library , which contains more than 2451 documents published by industry-leading authors. (Hidden) Categories Benefits & Financial Services (53) Commercial Lines (93) Communications (629 ...
https://completemarkets.com/Article/article-post/428/Mentoring-For-Agency-Growth/
... that the new business is on the books. After that, there are some options. Unless the mentor is actually servicing the account, though, I believe that after four years the mentor should no longer receive any portion of the commission for an account produced with a rookie. Here's how it might work: A new account is produced and the commission split is as follows: Year Mentor Rookie House 1 Full1 Salary2 Full3 2 Full Salary Full 3 (option 1) None Full Full 3 (option 2) Half Half Full 4 (option 2) Quarter Three-fourths Full 5 (option 2) None Full Full Salary plus bonus schedule for reaching production goals. Salary plus bonus schedule for reaching production goals. Producers required to give house small accounts below a specified size to help to fund the ... ) Life/Financial Services Management Marketing Marketing Agency of the Month Organizational Profiles Personal Lines Planning Questions & Answers Risk Management Selling Specialty Lines Technology Uncategorized Choose a Content Package All Member Content IMMS Library Jack Burke LIG Marine Managers USG Insurance Services, Inc. NIF Group Inc. PRS High Hazard/High Risk Workers' Compensation Business Insurance Insurance for Individuals and Families Personal Finance Theo Walker Search Titles only Search author Search Titles and content Show Results Loading.. Similar Articles Sample Telemarketing Scripts Let's Talk About Agency Procedures Again Agency Bill Vs. Direct Bill: Avoid Confusion Cross-Sell Letter Beyond The "Alpha Split": New Ways To Distribute Work Loads Content Packages This article is part of the IMMS Library , which contains more than 2451 documents published by industry-leading authors. (Hidden) Categories Benefits & Financial Services ( ...
https://completemarkets.com/Article/article-post/802/Administrative-Expense-Changes-For-The-Life-Operation/
... fact that the P/C agency already exists rather than the idea of building a P/C agency. The Life producers usually have no share in the P/C profits, no equity in the P/C agency, and perhaps only secondary interest in the inner workings of the agency. More important, Life producers pay' for Life leads by splitting commissions with the P/C house. If it's a fair split, the payment satisfies their obligation to the P/C house for leads. If, in addition, Life producers were also expected to help pay for the cost of producing those leads (i.e., the cost of running the P/C agency), then they would be paying twice for the same leads: once by sharing commissions and again by ... ) Life/Financial Services Management Marketing Marketing Agency of the Month Organizational Profiles Personal Lines Planning Questions & Answers Risk Management Selling Specialty Lines Technology Uncategorized Choose a Content Package All Member Content IMMS Library Jack Burke LIG Marine Managers USG Insurance Services, Inc. NIF Group Inc. PRS High Hazard/High Risk Workers' Compensation Business Insurance Insurance for Individuals and Families Personal Finance Theo Walker Search Titles only Search author Search Titles and content Show Results Loading.. Similar Articles Sample Telemarketing Scripts Let's Talk About Agency Procedures Again Agency Bill Vs. Direct Bill: Avoid Confusion Sample Broker-Of-Record Letter Beyond The "Alpha Split": New Ways To Distribute Work Loads Content Packages This article is part of the IMMS Library , which contains more than 2451 documents published by industry-leading authors. (Hidden) Categories Benefits & Financial Services ...
https://completemarkets.com/Article/article-post/1895/WHAT-IS-TARGET-MARKETING/
...s for agents and the high cost of housing and the often lengthy periods of non...ow they can have better control over housing costs and retain top-quality prod...
https://completemarkets.com/Article/article-post/2423/Internal-Perpetuation-Key-Considerations/
...uster with legal and regulatory authorities.
GIVING UP CONTROL
Many agency fou...
https://completemarkets.com/Article/article-post/2229/INSURANCE-AGENT-BROKER-LICENSING/
... Iowa, Lucas State Office Bldg., Des Moines, IA 50319, (515) 281-5705 Kansas, 420 S.W. 9th St., Topeka, KS 66612, (913) 296-3071 Kentucky, P.O. Box 517, Frankfort, KY 40602, (502) 564-3630 Louisiana, P.O. Box 94214, Capitol Sta. Baton Rouge, LA 70804, (504) 342-0856 Maine, State House Station #34, Augusta, ME 04333, (207) 582-8707 Maryland, 501 St. Paul Place, Baltimore, MD 21202, (410) 333-4056 Massachusetts, 470 Atlantic Ave., Boston, MA 02110, (617) 727-7189 Michigan, P.O. Box 30220, Lansing, MI 48909, (517) 373-0234 Minnesota, 133 East 7th St., St. Paul, ... points to be covered in licensing. Licensing services and consultants who do licensing work usually ask the client to complete a form which requests most of the information contained on state application forms. This information is then typed onto the appropriate state forms and returned to the client for rechecking, signature, and attachment of the proper fees. The problem with this approach is that planned operations might not match license authorization. That can mean trouble later, unless someone is willing to take a couple of extra minutes to be sure everything is right. The answer to simple questions such as, Will you write Life/Disability or Property/Casualty coverages or both? ' and Do you intend to open an office in the target state or do you plan to operate from your existing office? ' will help ...
https://completemarkets.com/Article/article-post/1462/Checklist-Of-Considerations-In-Negotiating-A-Producer-Agency-Agreement/
... attorney for assistance in drafting the legal language necessary to implement a formal contract. Factors to Consider Agreement I. Producer Duties A. Production activity 1. which licenses to obtain and maintain 2. types of business to solicit 3. meet established production goals B. Service and support activity expected 1. type and extent of activity - placing business handling claims, making collections 2. account development - house and/or own accounts C. Work hours and related subjects - vacations, sick leave, holidays, leaves of absence, jury duty, military duty D. Obligation to devote all working time to business of agency - other business activities only with permission E. Provide insurance - types required (E & 0, Fidelity, Auto) limits, evidence of coverage, who pays F. ... with agency rules regarding: 1. confidentiality of client data 2. use of agency property 3. collecting and remitting premiums 4. attending agency meetings 5. educational requirements - what, when, how, who pays G. Limits of authority 1. dealing with customers and companies - binding, advancing premiums, underwriting, extending agency credit 2. incurring agency expense 3. hiring or firing support personnel II. Compensation A. Basic compensation 1. salary 2. commission - on new and renewal business 3. commission with a draw B. Participation in other agency income - bonus and contingent commissions, consulting fees, prizes and contests, discretionary bonuses C. When compensation is earned and paid III. Ownership of expirations or dollars of value A. Exclusively by agency? B. Exclusively by ...