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Managing Risk: A Guide For Your Business Client, Part 1 Of 4
MANAGING RISK: A GUIDE FOR YOUR BUSINESS CLIENT Part 1 of 4   WHY RISK...ere are two benefits you'll get by combining these functions: (1) You'll coordinate insurance-buying expertise, and (2) you'll upgrade t...

... This can include the development and promotion of niche programs done in conjunction with intermediaries or direct with markets. Partner for success with other entities to expand your capabilities, services, and prestige. These partners might include wholesale and MGA intermediaries, reinsurance brokers, captive management specialists, claims administrators, etc. Remember to include those resources in your marketing activities so that when you approach them, you're top-of-mind with them as well. Identify and exploit your brand to promote unique attributes and your differentiation from competitors. This is essential in a ... marketplace. You can do this directly through advertising and direct mail, but often more subtly through press and publicity, speaking opportunities, and cultivating industry analysts. If you specialize in a particular industry niche, look into attending related trade shows to demonstrate your commitment and expertise. Focus on your production and support personnel. This is critical to any marketing effort. Branding and promotion are only believable when they come to life in the performance and behaviors of your staff. Use effective employee communications to build and sustain your desired company culture ... . You also need to: Expand your product mix to help retain clients and attract new ones — including whole books of business. This can include the development and promotion of niche programs done in conjunction with intermediaries or direct with markets. Partner for success with other entities to expand your capabilities, services, and prestige. These partners might include wholesale and MGA intermediaries, reinsurance brokers, captive management specialists, claims administrators, etc. Remember to include those resources in your marketing activities so that when you approach them, you're top-of-mind ...

...ce brokers, captive management specialists, claims administrators, etc. Remember to include those resources in your marketing activities so that when you approach them, you’re top-of-mind with them as well. Iden...rs. SUMMARY Market cycles are inevitable in our business. But with planning and forethought, you can “cycle up” your marketing efforts to your long-term advantage.

Developing A Marketing Plan In A Distressed Agency
It is an uphill...s present themselves, long-range marketing planning extend the agency into the future.

... better appreciated. WHO DOES IT? One person should oversee all risk-management functions. Exceptions occur, and much depends on the particular entity and individuals. Since risk management calls for a wide range of different skills, a person with broad knowledge is more effective than a specialist. For entities without a full-time risk manager, duties are often as follows: Chief Administrative Officer (CAO) . The CAO, whether a city manager, county executive, district manager, mayor, governor, or whoever, is responsibile for seeing that the ... prevention Claims adjusting Insurance premiums Administration Losses incurred may be controlled through various loss-control measures. Also, the amount of liability claims may be affected-strongly-by prompt and fair payment of legitimate claims combined with vigorous resistance to questionable claims. If claims are not handled in-house (and few public entities handle them), you can monitor the claims adjuster's work. Loss-prevention costs may be minimized by questioning expenditures for safety, fire protection, and security. Relate them to actual anticipated reduction in loss costs. If the cost of a protection device can't reduce ... Part 1 Of 4 4/30/2013 10:40:04 PM by CompleteMarkets Editor This content has not been rated yet. MANAGING RISK: A GUIDE FOR YOUR BUSINESS CLIENT Part 1 of 4 &# 160 WHY RISK MANAGEMENT? Every governmental or corporate entity that owns property or conducts any business or government activity is exposed to: Loss of property from fire or other peril, including financial dislocations caused by the need to carry on activities in substitute quarters Claims from persons injured (either bodily or through property damage) ...

... under which the parties agree to attempt to determine the price themselves, and go to an appraiser if they cannot agree. A seller should sell the sizzle as well as the steak. An insurance specialty consultant can suggest ways to make the agency more saleable. The specialist may know of a buyer who may be interested. Structuring the taxes in a way favorable to the buyer may also enhance the agency's value. Steps to reduce litigation exposure through proper anti piracy agreements and similar steps may also enhance value. 5.2 Overview of tax ... and deferral of tax by the acquired shareholder. If you plan to use a reorganization, don't plan on being able to amortize the expirations. You can still amortize a covenant not to compete. The sale of the new stock received by the seller' to a public company may be restricted for a period of time under the securities laws. Frequently two or more years must elapse before the seller can cash out the stock he receives on a reorganization. The acquirer suffers dilution of the ownership interest of its shareholders. This is ... not an important consideration for a large public company, but it usually is a consideration for a smaller company acquiring a book of business. Frequently the acquiring agency employs an acquired shareholder for a period of time to help retain the acquired business. Often this shareholder will be paid a substantially lower salary than he received under his old agency, particularly in acquisitions by public companies. Many newly rich agents are shocked when they try to make their children's college payments on what they are paid in salary by a national brokerage, particularly if ...

... up by the corporation are not deductible. Deductions cannot occur until the losses are actually paid. Insurance premiums are deductible when paid. Companies should be aware, however, that deductibility of Financial insurance premiums is considered a gray area by many tax experts. Some tax specialists claim that a pure timing risk transfer might not be considered insurance by the IRS. Any organization considering the use of Financial insurance for tax reasons should consult appropriate tax counsel. Possible tax-free accumulation of investment and underwriting income. If located in the appropriate domicile, ... sudden-demand risk. Risks that this technique addresses include Product Liability (including products recall), Pollution Liability, Errors and Omissions Liability, Workers' Compensation, and high-deductible Property. Various types of entities that could use Financial insurance include medium-size and large self-insured corporations, self-insured public entities or pools, captive insurers, and risk-retention groups. Insurance companies have used variation of this technique for many years (Financial reinsurance) . In the purest form, Financial insurance premiums are calculated by adding the current value of loss payouts to expenses and insurer ... timing variations. Transferring the timing risk to an insurer reduces or eliminates the sudden-demand risk. Risks that this technique addresses include Product Liability (including products recall), Pollution Liability, Errors and Omissions Liability, Workers' Compensation, and high-deductible Property. Various types of entities that could use Financial insurance include medium-size and large self-insured corporations, self-insured public entities or pools, captive insurers, and risk-retention groups. Insurance companies have used variation of this technique for many years (Financial reinsurance) . In the purest form, Financial insurance premiums ...

Legal Outline For California Agencies - Chapter 5
LEGAL OUTLINE FOR CALIFORNIA INSURANCE AGENCIES CHAPTER FIVE TRANSFERRING AGENCY INTERESTS BY SALE, ETC. 5.1 Objectives of buyers and sellers of agencies. In the typical sale or transfer of an agency, the interests of the buyer and seller differ. The buyer is concerned with being able to make the payments from earnings of the business, with as little down as possible. He...an through a sale of stock or assets. In the case of a deceased partner, the payments may be income in respect of a decedent, suffering both estate and income tax (with

... The creation of a diversified portfolio with several quality stocks would take more investment capital than most people can afford. A mutual fund lets the investor diversify without spending too much money. The purchaser of mutual fund shares buys a truly diversified portfolio, selected by a trained specialist operating within the parameters set forth in the prospectus. Some experts have advised that unless you have $100,000 to invest, you should stick with a mutual fund. Some funds hold over 1,000 different stocks and most have at least 100. ... /2013 10:40:32 PM by CompleteMarkets Editor This content has not been rated yet. &# 160 MUTUAL FUNDS: MODULE V-I &# 160 OVERVIEW By now you've probably heard a great deal about mutual funds. So have many investment-minded members of the public. But, while most people may be familiar with the term, they may not know much more about this financial product except that it is a good investment. They may not realize that a mutual fund encompasses much more than just one type of investment. ... the investor's principal. The interest on government bond funds is subject to federal taxation. In general, however, it will be free of state and local taxes. Tax-Free Bond Funds-The tax-free bond fund invests in municipal bonds issued by cities, states, and other governmental entities. The income from these funds will be free from federal income taxes. As a general rule, only individuals in a high tax bracket would benefit from a tax-free bond fund, since the tax savings on this income offsets the lower interest rate that is usually ...

...al about mutual funds. So have many investment-minded members of the public. But, while mo... is charged when the shares are cashed in. No-load simply means there is no initial sales charge. Every fund will charge a management fee of some kind. There might also be a charge for accounting fees and marketing costs, whic