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... investments (junk bonds, too much real estate) Agent grapevine is giving some ...e of major and immediate concern for agents during the next several years. ...

...with only marginal vigilance, this real-life insolvency could have been 'predi...uating a carrier’s financial stability and minimizing the risk of an E&O c...

...lines” is a misnomer, because it’s really a list of the agency’s contractual b...omply with all applicable laws, rules, and regulations.

... Dramatic changes in written premiums from one year to the next Surplus growing faster than 10% a year (could be unstable growth) Transfer of loss reserve portfolio (manipulation of the financial statement) Consistently under-reserving on your claims Questionable investments (junk bonds, too much real estate) Agent grapevine is giving some negative signals SECTION III-ITEMS THAT COULD BE INDICATIONS OF SOME FINANCIAL DIFFICULTIES: Assign one (1 ) point for every YES answer on the portion of the checklist. Consistently poor business decisions being made Information coming from branch inconsistent with ... from home office Employee morale down and turnover among underwriters up Letter from company denying rumors (add extra point if you hadn't heard rumors) Change in agency contracts, especially termination or profit-sharing procedures Extensive changes in agency force (many appointments or terminations) Makes erratic changes in underwriting authority, either more or less Slowdown in paying claims Slowdown in processing return premium endorsements and audits Overall deterioration in service Much lower rates or higher commissions than similar companies Enters new lines of business or markets that other companies are avoiding Sudden withdrawal from a territory ... Member Content - Content Package Categories Popular Recent All Back Agent's Responsibility For Company Insolvency 12/16/2013 12:00:00 AM by CompleteMarkets Editor , Carol Hammes This content has not been rated yet. Up until 20 years ago courts did not treat insurance agents as professionals and as a result agents were usually not held responsible for errors and omissions in situations involving the insolvency of carriers. With professional' status came the requirement that an agent must live up to professional standards of conduct. Court cases after 1957 have made ...

... Dramatic changes in written premiums from one year to the next Surplus growing faster than 10% a year (could be unstable growth) Transfer of loss reserve portfolio (manipulation of the financial statement) Consistently under-reserving on your claims Questionable investments (junk bonds, too much real estate) Agent grapevine is giving some negative signals SECTION III-ITEMS THAT COULD BE INDICATIONS OF SOME FINANCIAL DIFFICULTIES: Assign one (1 ) point for every YES answer on the portion of the checklist. Consistently poor business decisions being made Information coming from branch inconsistent with ... from home office Employee morale down and turnover among underwriters up Letter from company denying rumors (add extra point if you hadn't heard rumors) Change in agency contracts, especially termination or profit-sharing procedures Extensive changes in agency force (many appointments or terminations) Makes erratic changes in underwriting authority, either more or less Slowdown in paying claims Slowdown in processing return premium endorsements and audits Overall deterioration in service Much lower rates or higher commissions than similar companies Enters new lines of business or markets that other companies are avoiding Sudden withdrawal from a territory ... Member Content - Content Package Categories Popular Recent All Back Agent's Responsibility For Company Insolvency 12/16/2013 12:00:00 AM by CompleteMarkets Editor , Carol Hammes This content has not been rated yet. Up until 20 years ago courts did not treat insurance agents as professionals and as a result agents were usually not held responsible for errors and omissions in situations involving the insolvency of carriers. With professional' status came the requirement that an agent must live up to professional standards of conduct. Court cases after 1957 have made ...

... Dramatic changes in written premiums from one year to the next Surplus growing faster than 10% a year (could be unstable growth) Transfer of loss reserve portfolio (manipulation of the financial statement) Consistently under-reserving on your claims Questionable investments (junk bonds, too much real estate) Agent grapevine is giving some negative signals SECTION III-ITEMS THAT COULD BE INDICATIONS OF SOME FINANCIAL DIFFICULTIES: Assign one (1 ) point for every YES answer on the portion of the checklist. Consistently poor business decisions being made Information coming from branch inconsistent with ... from home office Employee morale down and turnover among underwriters up Letter from company denying rumors (add extra point if you hadn't heard rumors) Change in agency contracts, especially termination or profit-sharing procedures Extensive changes in agency force (many appointments or terminations) Makes erratic changes in underwriting authority, either more or less Slowdown in paying claims Slowdown in processing return premium endorsements and audits Overall deterioration in service Much lower rates or higher commissions than similar companies Enters new lines of business or markets that other companies are avoiding Sudden withdrawal from a territory ... Member Content - Content Package Categories Popular Recent All Back Agent's Responsibility For Company Insolvency 12/16/2013 12:00:00 AM by CompleteMarkets Editor , Carol Hammes This content has not been rated yet. Up until 20 years ago courts did not treat insurance agents as professionals and as a result agents were usually not held responsible for errors and omissions in situations involving the insolvency of carriers. With professional' status came the requirement that an agent must live up to professional standards of conduct. Court cases after 1957 have made ...

... or from their own professional malpractice; but they do provide protection from cross-liability for E&O and torts of the LLP's other participants. Your clients-and you-can benefit from LLCs in a number of ways: Consider using one instead of a partnership or sole proprietorship to hold real estate (such as your agency office building) . Benefits include tax, cash and profit allocation opportunities, and Liability protection. Consider them as one asset-protection strategy. For example, clients often place individual apartment buildings into a series of separate LLCs to compartmentalize their ... be aware of their additional sales opportunities! Agency owners can also use LLCs to improve clusters greatly, enhancing their ability to acquire another agency (or to hire an established producer with a book of business) . Owners can even use LLCs to help with their own estate planning. THE BASICS LLCs are hybrids, combining corporate and partnership characteristics. Every state now allows them in one form or another. They provide Personal Liability protection for members against outside third parties (analogous to the protections of a corporation), fire walls' ... although they're not corporations), with the flexibility and tax advantages of a partnership. However, along with those benefits and flexibility comes its inevitable corollary: complexity. The very fact that you have so much flexibility means that you're dealing with a complex entity. Every agent in the Commercial Property/Casualty insurance marketplace is seeing a steadily increasing number of clients organized as LLCs. To serve them properly and avoid E&O exposure, agents needs to know the basics of LLCs. It's also nice to be aware of their additional ...

... not own, and never has owned, any real property. The Agency ...e numbering of the Sellers' warranties and representations in said section 3. ...