https://completemarkets.com/Article/article-post/1778/AGREEMENT-FOR-PURCHASE-AND-SALE/
...maller incorporated agency with a single stockholder. Sale is to a larger inco...ours after Closing. 5.2.2 Seller and Buyer shall each deliver to the other at...
https://completemarkets.com/Article/article-post/1780/AGREEMENT-FOR-PURCHASE-AND-SALE/
...maller incorporated agency with a single stockholder. Sale is to a larger inco... of the purchase of assets hereunder, Buyer shall assume and agree to pay acco...
https://completemarkets.com/Article/article-post/1011/COMBINING-INSURANCE-AND-FINANCIAL-SERVICES-REALITY-CHECK/
...tion to write insurance for every single bank client. It’s extremely imp...relationships. The hard market in Commercial Lines might put additional strai...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/1635/MANAGING-RISK-A-GUIDE-FOR-YOUR-BUSINESS-CLIENT-PART-4-OF-4/
... can't conceive of all the things that can go wrong. All-Risks protection is therefore essential to proper insurance coverage. With respect to property, this is usually written in a Difference-in-Conditions (DIC) policy. The liability equivalent of the DIC is the Umbrella-probably the most important single policy of all. It supplies the needed high limits and broad coverage for the blockbuster liability claim. Be sure it's the broadest possible. Pay a little more if necessary, but don't settle for an inferior Umbrella. Insurance Companies and Their Environment The insurance world ... and some of no concern to the risk manager. One division that should be of no concern (but which has received inordinate attention) is whether an insurer is a stock company, mutual company, or reciprocal. The form of corporate organization is irrelevant to the buyer. Whether a policy is assessable is important, but major insurers don't issue assessable policies, regardless of their form of management. Briefly, the definitions are: A stock company is owned by public stockholders, just as is General Motors. A mutual company has ... , wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability to attach leads and clients to your specific market searches, with e-mail alerts for all the market, articles, blogs and people ...
https://completemarkets.com/Article/article-post/1635/MANAGING-RISK-A-GUIDE-FOR-YOUR-BUSINESS-CLIENT-PART-4-OF-4/
...rella-probably the most important single policy of all. It supplies the needed...dy. Look for the CPCU (professional insurance) and RM (professional risk manag...
https://completemarkets.com/Article/article-post/1741/TASTED-ANY-GOOD-LISTS-LATELY/
...or it may be wrong for you, but a single selection won't always give you the a...ailing to those names. Do you run a credit system? If so, you undoubtedly also have some bad credit risks. Save those names too, and e...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/1778/AGREEMENT-FOR-PURCHASE-AND-SALE/
... :13 PM by CompleteMarkets Editor , Gary Jacobson This content has not been rated yet. AGREEMENT FOR PURCHASE AND SALE by Gary Jacobson All Assets (Includes Trade Name Transfer) Comments This form involves a straightforward sale of all assets of a smaller incorporated agency with a single stockholder. Sale is to a larger incorporated agency with several offices; Buyer will consolidate the office of the acquired agency into that of the Buyer. A creative security arrangement is included, involving a security-escrowed broker-of-record letter as set forth in Exhibit G. AGREEMENT FOR PURCHASE ... SALE OF ABLE INSURANCE AGENCY Table of Contents Section/Paragraph 1. Parties 2. Recitals 2.1 Status of Seller 2.2 Status of Buyer 2.3 Status of Able 2.4 Status of Dalton 2.5 Purpose 2.6 Move 3. Purchase and Sale 3.1 Insurance Accounts 3.1.1 Valuation 3.1.2 Risk of Loss 3.2 All Goodwill of the Seller 3.3 Name Change 3.4 Personal Property 3.5 Commissions Receivable 3.5.1 Schools Exception 3.5.2 Repayment 3.6 Contingency Commissions 3.7 Assumption of Liabilities 4. Payment/Terms/Security 4.1 Purchase Price 4.2 Allocation 4.3 Terms 4.4 Security ... ), with its principal place of business at 810 S. Grand Way N.E., Suite 1000, Podunk, Washington. 2.2 Status of Buyer. Buyer is a Washington corporation engaged in the insurance local agency business, with its principal place of business at 4321 Commercial Avenue, Suite 320, Any City, Washington, and a branch office located at 2222 Ocean Blvd., Walla Walla, Washington. 2.3 Status of Able. Able is the sole shareholder of Seller. 2.4 Status of Dalton. Dalton is the majority shareholder ...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/1624/Purchase-And-Sale-Agreement-Part-I/
... "Seller", and JOHN Q. HARVARD of Cambridge, Massachusetts, Hereinafter referred to as the "Stockholder." WHEREAS, the Seller has been operating an insurance agency and brokerage business under the trade name and style of "GIGANTIC INSURANCE AGENCY" from a single Office location at 1000 Massachusetts Avenue, Cambridge, Massachusetts 02139, and WHEREAS, the Seller presently desires to terminate its operations and sell certain of the assets heretofore used by it in the operation of its business, and the Buyer desires to acquire the same, ... AND SALE AGREEMENT PART I AGREEMENT made and entered into this ____ day of ___, 19_, by and among ABC INSURANCE AGENCY, INC., a Massachusetts corporation, having a principal place of business in Boston, Massachusetts, hereinafter referred to as the "Buyer", OLDCO INSURANCE AGENCY, INC., a Massachusetts corporation, having a principal place of business in Cambridge, Massachusetts, hereinafter referred to as the "Seller", and JOHN Q. HARVARD of Cambridge, Massachusetts, Hereinafter referred to as the " ... Buyer shall provide the Seller with a security interest in and to all of the assets which the Buyer shall acquire from the Seller hereunder, which security interest shall be in accordance with a security agreement in form and substance satisfactory to the Seller and evidenced by a Uniform Commercial Code Financing Statement duly recorded with the Secretary of State of the Commonwealth of Massachusetts and the Clerk of the City of Boston. 8. Segregation of Accounts. The Buyer shall segregate the Subject Accounts acquired from the Seller hereunder from its other accounts by coding or ...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/1008/ACQUIRING-AN-INSURANCE-AGENCY/
... procedural issues, and personnel and sales management. Remember that the purpose of this analysis is to help you establish the element of risk involved in the acquisition of this specific agency. Mix of business and accounts written. Examine the relationships that the agency has with any single account producing more than 2% of the total revenues, or with any group of accounts that together produce more than 15% of the total income. Are there special connections between the seller and those businesses that relate to religion, politics, nationality, age ... 4/30/2013 10:36:15 PM by CompleteMarkets Editor , Carol Hammes This content has not been rated yet. &# 160 ACQUIRING AN INSURANCE AGENCY by Carol Hammes The buying and merging of insurance agencies continues to be a hot trend. Traditional buyers, such as larger local agencies, regional firms, and national brokers, are being joined by newly interested contenders, such as banks, insurance companies, and venture capitalists. Before a potential buyer jumps into the fray with both feet, it's important for them ... be appropriate to look at the entire book. When projecting growth in larger agencies or where there are significant differences in types of account, it's best to apply a separate growth rate to each of the elements being considered. One of the more common breakdowns is regular Commercial lines, small Commercial business, Personal lines, Group, Individual Life/Health, and contingents. Note that in some deals, contingents aren't included in the valuation process, and often the Individual Life insurance isn't even included in the purchase. The second element ...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/1780/AGREEMENT-FOR-PURCHASE-AND-SALE/
... Editor , Gary Jacobson This content has not been rated yet. &# 160 AGREEMENT FOR PURCHASE AND SALE by Gary Jacobson &# 160All Assets (Includes Trade Name Transfer) Comments This form involves a straightforward sale of all assets of a smaller incorporated agency with a single stockholder. Sale is to a larger incorporated agency with several offices; Buyer will consolidate the office of the acquired agency into that of the Buyer. A creative security arrangement is included, involving a security-escrowed broker-of-record letter as set forth in Exhibit G. &# 160 ... FOR PURCHASE AND SALE OF ABLE INSURANCE AGENCY &# 160Table of Contents Section/Paragraph Parties Recitals 2.1 Status of Seller 2.2 Status of Buyer 2.3 Status of Able 2.4 Status of Dalton 2.5 Purpose 2.6 Move Purchase and Sale 3.1 Insurance Accounts 3.1.1 Valuation 3.1.2 Risk of Loss 3.2 All Goodwill of the Seller 3.3 Name Change 3.4 Personal Property 3.5 Commissions Receivable 3.5.1 Schools Exception 3.5.2 Repayment 3.6 Contingency Commissions 3.7 Assumption of Liabilities Payment/Terms/Security 4.1 Purchase Price 4.2 Allocation 4.3 Terms 4.4 Security- Assets 4.5 Assignment, Replacement Property 4.6 Default ... ), with its principal place of business at 810 S. Grand Way N.E., Suite 1000, Podunk, Washington. 2.2 Status of Buyer. Buyer is a Washington corporation engaged in the insurance local agency business , with its principal place of business at 4321 Commercial Avenue, Suite 320, Any City, Washington, and a branch office located at 2222 Ocean Blvd., Walla Walla, Washington. 2.3 Status of Able. Able is the sole shareholder of Seller. 2.4 Status of Dalton. Dalton is the majority shareholder ...