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...es? For example, do they list the primary and all excess policies? I could not...ollution), should the agent list the excess policy? If the certificate request...

...As administer claims, since their primary purpose is to administer, underwrite...effort. And, unlike the wholesale or Excess & Surplus Lines facilities, PA...

...ing 11 vehicles left in his care. Primary garage keepers was not in place to r...e met. The duty to perform is far in excess of the average retail business, bu...

...his Act - (1) 'Insurance means primary insurance, excess insurance, reinsur...om an admitted insurance company, an excess lines company, a risk retention gr...

... 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 ... renewal ratio of around 90% . There are many ways of finding a PA. Most programs are listed in periodicals such as Rough Notes and the Crittendon Report, and most advertise in trade journals. Talk to the marketing representatives of your standard insurance companies. In our program, Travelers marketing and underwriting personnel are familiar with the specialty products offered by the Gulf Insurance Group. The use of PAs will add to the profits and retention of your business. Thomas S. Gillingham is president of Gillingham & Associates, Inc., ...

... 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 ... 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 ... client. The client, a general contractor, reported a loss arising from the work of the insured. The loss resulted in discontinuation of underground utility service to a major manufacturing plant. The insured, a swimming pool subcontractor, did not have coverage for the underground property damage. The insurance 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 ...

... , the product, and the company behind the product. We've been seeing the signs for a long time: The future is communications. Infomercials are an ideal way to communicate your story to prospective clients. Ten years from now, they may be one of the primary methods of generating insurance sales. Do you want to get the jump on the competition? Or do you want to wait until everyone else is doing it? The decision is yours! The goal of the CompleteMarkets editor is to bring valuable content to the CompleteMarkets ... Depending on your local station's preference and your own self-confidence, infomercials can be broadcast live or prerecorded. The advantage of prerecording is that the program can be edited before airing. Its disadvantage is that the recording and editing may cost a bit, but not necessarily an excessive amount. As with television, your best bet is to work with the local radio station. It often provides a production studio for prerecording, and may make staff available to help edit and add in music. Note on music: Radio (and most television ... the owner of an insurance agency will probably hold no interest for the general public, or may be too complicated to understand. It helps to talk with your existing clients about what information they think is valuable. For instance, a program detailing risk management for Commercial Property insurance will probably be less likely to succeed than a commercially oriented program reviewing how to plan finances for retirement, or on health and wellness. First win over the prospect! Once you've made the initial sale, you can proceed to cross-sell other coverages. The ...

...tes that earnings should be given primary consideration when valuing firms tha...

... from now, they may be one of the primary methods of generating insurance sale...

...tes that earnings should be given primary consideration when valuing firms tha...