https://completemarkets.com/Article/article-post/793/Understanding-And-Using-The-Services-Of-Program-Administrators/
...As administer claims, since their primary purpose is to administer, underwrite...nel are familiar with the specialty products offered by the Gulf Insurance Gro...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/2138/E-O-Insights-Let-Me-Think-About-It-%E2%80%A6/
... . The underlying case was worth $5 million to $10 million. The client, a new customer, had provided a copy of his previous policy to the agent and asked for coverage. The agent stated that he saw the previous policy had $1 million primary and $4 million umbrella. According to the agent, he told the client he was only going to obtain a primary policy for $1 million and that the client was going to think about whether he wanted the umbrella coverage. Again, according to the ... sign off" on those limits you offered that they did not select. You might want to ask your carriers if they have had any large claims you can include in your proposal. See if the coverage "follows forms." Are there any exclusions in the excess policy that aren't in the primary? Both you and your client need to know. If any of the underlying policies are written on a claims-made basis, see how well the umbrella addresses this exposure (underlying policies written on both a claims-made and occurrence basis) ... like/dislike? 3. Why did you choose this rating? Submit This Anonymously Submit Cancel Contact Us contact_phone Click to call Unfollow First name: Last name: Email: Are you sure you want to deactivate your CompleteMarkets Company Profile Deactivate Cancel Loading.. About Us Products/Services News Jobs Team Articles Blog Group Followers Photos Reviews Newsletters x No Thanks Loading.. x No Thanks Loading.. x No Thanks Loading.. CompleteMarkets 1 2 3 4 5 Rating history (0 Reviews - 0 of 5.0) Shows who have rated the content ...
https://completemarkets.com/Article/article-post/1805/ENHANCING-AGENCY-VALUE-WHAT-THE-MARKETING-MANAGER-CAN-DO/
...odern agency era depends on three primary factors: 1. Creation of a busines...oft dollar' costs benefiting owners (excess T&E, excess auto) = $_____ 6. Add: Interest e...
https://completemarkets.com/Article/article-post/2138/E-O-Insights-Let-Me-Think-About-It-%E2%80%A6/
...he previous policy had $1 million primary and $4 million umbrella. According t...but by no means least, make sure the primary policies are at the required unde...
https://completemarkets.com/Article/article-post/2156/E-O-LEGAL-ACTIONS-THE-AGENCY-NEMESIS/
...ing 11 vehicles left in his care. Primary garage keepers was not in place to r...al system). 6. Implements selected products (application system). 7. Arrange...
https://completemarkets.com/Article/article-post/229/Agency-Risk-Management-Of-Soft-Market-Hard-Market-Exposures/
...y. Your clients view you as their primary information source and expect you to...er: This determines when a specific Liability policy covers a claim.
Occu...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/558/Whats-A-Liquidity-Ratio-And-Why-Should-It-Be-Important-For-An-Insurance-Agent/
... The general liquidity ratio measures your agency's short-term health. If current assets can't meet current liabilities (within 12 months), you need to strengthen your liquidity. Formula: Current Assets/Current Liabilities Benchmark: At least 100% ACID TEST The acid test is a primary liquidity measure used to determine whether the firm can meet its current obligations. Formula: (Cash+ Receivables)/Payables Benchmark: At least 90% RECEIVABLES TO PAYABLES A poor receivables-to-payables ratio indicates a poor collector. Formula: Trade (Co.) ( ... Benchmark: Should be a positive number unless the agency is in the process of being perpetuated (causing negative TNW) . But in that instance it should be a positively growing number each year toward an eventual positive number. WORKING CAPITAL Measures the extent to which the excess of current assets over current liabilities can cover operating expenses. Formula: Current Assets less Current Liabilities. Benchmark: Take the Average Daily Cash Expenses of the agency Total Expenses of the prior year, less non-cash items (Bad Debt and Deprec & Amort divided by ... like/dislike? 3. Why did you choose this rating? Submit This Anonymously Submit Cancel Contact Us contact_phone Click to call Unfollow First name: Last name: Email: Are you sure you want to deactivate your CompleteMarkets Company Profile Deactivate Cancel Loading.. About Us Products/Services News Jobs Team Articles Blog Group Followers Photos Reviews Newsletters x No Thanks Loading.. x No Thanks Loading.. x No Thanks Loading.. CompleteMarkets 1 2 3 4 5 Rating history (0 Reviews - 0 of 5.0) Shows who have rated the content ...
https://completemarkets.com/Article/article-post/1627/LIABILITY-RISK-RETENTION-ACT-OF-1986/
...his Act - (1) 'Insurance means primary insurance, excess insurance, reinsur...om an admitted insurance company, an excess lines company, a risk retention gr...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/229/Agency-Risk-Management-Of-Soft-Market-Hard-Market-Exposures/
... can't afford the actuaries, auditors, technicians, and other specialized staff to oversee admitted companies properly. Most states do a commendable job with their limited resources. Your agency can't just pass off its due-diligence responsibility to the regulatory agency. Your clients view you as their primary information source and expect you to inform them of developments that might affect them. Communication with clients is more important than ever amid the company mergers, acquisitions, and realignments, and the expected regulatory changes. For example, although the causes of an insolvency might ... agency advocate. There are fewer exposures when you go from a hard market to a soft market than when going from a soft market to a hard one. When the market hardens, standard carriers become more selective about what business they write and under what terms. Excess & Surplus Lines (E &S ) carriers increase their writings considerably. When you need to move a standard policy into an E&S market, you must consider a number of due diligence areas, such as: Policy coverage and definitions Restrictive endorsements Occurrence ... like/dislike? 3. Why did you choose this rating? Submit This Anonymously Submit Cancel Contact Us contact_phone Click to call Unfollow First name: Last name: Email: Are you sure you want to deactivate your CompleteMarkets Company Profile Deactivate Cancel Loading.. About Us Products/Services News Jobs Team Articles Blog Group Followers Photos Reviews Newsletters x No Thanks Loading.. x No Thanks Loading.. x No Thanks Loading.. CompleteMarkets 1 2 3 4 5 Rating history (0 Reviews - 0 of 5.0) Shows who have rated the content ...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/793/Understanding-And-Using-The-Services-Of-Program-Administrators/
... being used frequently. They're often used interchangeably. This article will use program administrators, ' or PAs. A PA is a specialist in underwriting a particular industry or form of coverage on behalf of an insurance company or companies. Rarely do PAs administer claims, since their primary purpose is to administer, underwrite, rate, and market their product. Some PAs sell directly to the customer, but most generate sales through the insurance agency system. A true specialty insurance program has unique characteristics that distinguish it from a standard insurance submission-say, ... specialty applications) to underwrite and compete for the business properly. PAs will attend conventions and generally ask their agents to man the booths with them. Sharing association endorsements with the producer is another way to share in a marketing effort. And, unlike the wholesale or Excess & Surplus Lines facilities, PAs pay more commission to the producer. Before devoting time and energy to a program, the producer should ask the PA what his or her renewal retention has been for the past three years. A stable and profitable program will have ... like/dislike? 3. Why did you choose this rating? Submit This Anonymously Submit Cancel Contact Us contact_phone Click to call Unfollow First name: Last name: Email: Are you sure you want to deactivate your CompleteMarkets Company Profile Deactivate Cancel Loading.. About Us Products/Services News Jobs Team Articles Blog Group Followers Photos Reviews Newsletters x No Thanks Loading.. x No Thanks Loading.. x No Thanks Loading.. CompleteMarkets 1 2 3 4 5 Rating history (0 Reviews - 0 of 5.0) Shows who have rated the content ...