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...effectively. We will cover what wholesalers are, why and how to utilize them, and criteria to select those wholesalers with whom you choose to do busines... than likely your involvement with wholesalers will increase if you want to co...

...>Privately owned retail agents, wholesalers, and MGAs can benefit by creating ...lationships on doing business with wholesalers and MGAs wanted to structure an...

... Required) Please consider the following: 1. Would you recommend this company? 2. What about this company do you 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 Services Jobs PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All wholesalers Articles tagged with wholesalers Back Clusters – Are They Right For You? This content has not been rated yet. CompleteMarkets Editor , Valerie Jordan 4/30/2013 10:41:34 PM CLUSTERS - ARE THEY RIGHT FOR YOU? by Val Jordan As an independent agent, you know that it's becoming increasingly difficult to find products and services. Carriers have incr.. All Articles by CompleteMarkets Editor Comments (0 ) How To Deal With A Wholesaler This content has not been rated yet. CompleteMarkets Editor , Ed Bordenave 4/30/2013 12:00:00 AM HOW TO DEAL WITH A WHOLESALER by Ed Bordenave, CPCU, ARM In today's world of complex and ever-changing exposures, one of your most important allies is an Excess .. All Articles by CompleteMarkets Editor Comments ( ...

... Resources & Links Categories Popular Recent All Back The "Mother-Child" Commercial Lines Sale 4/30/2013 10:45:45 PM by CompleteMarkets Editor , Alan Shulman This content has not been rated yet. THE MOTHER-CHILD' COMMERCIAL LINES SALE by Alan L. Shulman, CPCU When you attempt to sell Commercial Lines, you can project yourself as either a generalist or a specialist. In virtually all cases, the specialist will achieve greater success. Specialists can follow traditional association sponsored marketing strategies, such as CNA's excellent CAM program, or create their own business insurance programs employing the dual concepts of policy repackaging' and mother-child' marketing. Policy repackaging, as introduced in Agency Ideas newsletter, allows agents to actually invent their own Commercial Lines packages. These agency-originated programs are created (for HVAC Wholesalers, as an example) through the careful combination of standard insurance policies and prospect-specific agency services. Using this imaginative marketing technique, unique package programs can be offered to prospects, instead of ordinary insurance. Repackaging allows agents to carve out a self-generated advantage in the highly competitive Commercial Lines marketplace. To be successful with these techniques, you'll need to select your target markets, create your programs, and promote your new offerings. One of the most potent and least recognized methods of target marketing is using the mother-child approach. The basic premise behind this method of prospecting is as simple as it is effective. Start by identifying targets in your sales territory that have established symbiotic relationships, such as the general and subcontractor. Then for each set of targets, decide to work from the inside out ...

...actical deployment. For agents, wholesalers, managing general agents (MGAs), a... Valuable for MGAs and wholesalers, but depends on structured data...

... run, this should be beneficial because it eliminates the "requirement" of sending out cancellation notices. The new form reinforces the need for agents using certs to follow these "best practices:" Best Practices to consider: Have a written procedure for the handling/issuance of certs. This should address all pertinent issues, including how to handle requests for adding additional insureds when the policy doesn't provide this coverage. Consider identifying a specific number of staff who can handle this responsibility, and make sure they receive the necessary training. Audit completed certificates periodically to ensure that they are done in accordance with established agency procedures. If you're issuing certificates on behalf of E&S carriers with which you have placed business, understand that unless you have an E&S license and are acting as the wholesaler, you are technically not the agent. Get approval from your E&S wholesaler to issue these. Many agents issue a "draft" and send it to the wholesaler for approval. This is acceptable. Issue the certificate from your system. This will ensure that the producer, named insured(s ), carrier, policy number(s ), policy dates, etc., are correct. If you still produce certificates manually, as your software is updated to the new ACORD 25 form, take advantage of technology – it's a great time saver that will help reduce (but not eliminate) the potential for mistakes. Use the Additional Insured column as much as possible to help tie additional insureds into the right coverage. Don't issue a certificate with additional coverages notes ...

... programs are created (for HVAC Wholesalers, as an example) through the carefu...aurant supply operations, and meat wholesalers. We prefer the mother-child me...

... run, this should be beneficial because it eliminates the "requirement" of sending out cancellation notices. The new form reinforces the need for agents using certs to follow these "best practices:" Best Practices to consider: Have a written procedure for the handling/issuance of certs. This should address all pertinent issues, including how to handle requests for adding additional insureds when the policy doesn't provide this coverage. Consider identifying a specific number of staff who can handle this responsibility, and make sure they receive the necessary training. Audit completed certificates periodically to ensure that they are done in accordance with established agency procedures. If you're issuing certificates on behalf of E&S carriers with which you have placed business, understand that unless you have an E&S license and are acting as the wholesaler, you are technically not the agent. Get approval from your E&S wholesaler to issue these. Many agents issue a "draft" and send it to the wholesaler for approval. This is acceptable. Issue the certificate from your system. This will ensure that the producer, named insured(s ), carrier, policy number(s ), policy dates, etc., are correct. If you still produce certificates manually, as your software is updated to the new ACORD 25 form, take advantage of technology – it's a great time saver that will help reduce (but not eliminate) the potential for mistakes. Use the Additional Insured column as much as possible to help tie additional insureds into the right coverage. Don't issue a certificate with additional coverages notes ...

... Required) Please consider the following: 1. Would you recommend this company? 2. What about this company do you 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 Services Jobs PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All wholesale buyers Articles tagged with wholesale buyers Back The Concept Of Sharing In Mentoring And Marketing This content has not been rated yet. Jack Burke 4/30/2013 12:00:00 AM THE CONCEPT OF SHARING IN MENTORING AND MARKETING by Jack Burke When writing an article for IMMS subscribers, I often feel like I'm preaching to the choir. .. All Articles by Jack Burke Comments (0 ) x No Thanks Loading.. Loading.. x No Thanks Loading.. ...

... dealing with the E&S market, take these E&O precautions. Before you go to the Surplus Lines market, be sure to educate your staff on the uniqueness of this marketplace: Many E&SL carriers require their own apps. Don't get caught in a situation where you need to bind coverage and the carrier wont do so until they have their app. You'll need to complete affidavits to show that the standard market won't write your risk Since Surplus Lines is free of rate and form in most states, the forms might not be familiar. Make it a standard practice in your agency to review new policies and to compare them with the old forms. If you can't get comparable coverage, notify the client. Be sure to request a copy of the policy form from the wholesaler. Check the financial rating of the Surplus Lines carrier. If you're not sure, ask the wholesaler. Remember: there's no Guaranty Fund with Surplus Lines carriers. Exercise extreme caution! Here's an E&O claim that illustrates these issues: The claim against the agency was for failure to provide a client tavern owner with adequate Liability coverage. There was a fatal shooting at the tavern when a 14-year-old girl attempted an armed robbery. An intoxicated patron tried to disarm the girl, but was killed in the struggle. The patron's estate sued the tavern for failure to maintain safe premises. The agent submitted the lawsuit to the General Liability carrier, who denied the claim on the basis of an Assault and Battery exclusion. The agent gave notice to the Liquor Liability carrier, who also denied ...