American Agent & Broker May 2006
Features
Incentive Compensation Plans for MGAs
This article was adopted from Mr. Nohre's presentation at the American Association of Managing General Agents' University Weekend, which was held in August in Scottsdale, Ariz.) AS MGAs get larger, they need comprehensive compensation plans. The goal
Features
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Trends in Litigation Spur Client Interest in D&O and EPLI
OVER THE last decade, Vanner Insurance Agency has grown steadily as a result of specialization. The agency's principals--Ralph Vanner Sr., Ralph Vanner Jr., Thomas Vanner, Bradley Hall and William Quinn--sell perhaps 75% of the agency's
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Not-for-Profit Organizations Need D&O and EPLI too
Scandals involving financial improprieties at such firms as WorldCom, Enron and Arthur Andersen have drawn attention to the corporate governance of for-profit and nonprofit organizations alike. Consider also that the number of nonprofit entities has
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Clashes Continue to Drive Employment Practices Litigation
REGARDLESS of whether a company is publicly owned, privately held or nonprofit, the employment practices liability exposure seems to be its greatest concern among the various management liability risks it faces. Certainly, awareness of the issue is
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Strategies for Getting More for an Agency in Today's Market
MOST agency owners agree that now is a great time to be in business. That's not to say that running an agency is easy, but the results have never been better. Agency revenues, including contingencies, are at an all-time high, as are profits. The
Columns
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Strictly Sales: When to walk away--and what to say when you do
AN ISSUE I've long heard discussed by new producers and veterans alike is when and why to walk away from a prospect. I'd like to share with you some key factors to consider when making this often-difficult decision, and also suggest
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What's Going On: AA&B annual survey results reflect a softening market
UNLESS you happen to be writing a lot of wind coverage in coastal areas, the hard market is little more than a memory. Increasingly, business is becoming more competitive, and this was reflected in the results of our 2006 American Agent & Broker
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For The Manager: Clients Are Not the Only Source of E&O Claims
ERRORS and omissions claims are originating from two sources for which many agencies are unprepared: brokers and carriers. For many years, agents have concentrated on minimizing the odds that their clients would sue them. Generally speaking, they
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Policy Issues: The Challenge of Matching Contractors to Classifications
WELCOME TO MAY, the month of one of America's great traditional races. As they might say at Indy, "Gentlemen and ladies, start your classifications!" Ah, general liability, thy heart is classification. Or at least it should be. I
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Automation: Where Do You Want Technology to Take Your Agency?
THE AGENCY ownership life-span includes three phases: acquiring the agency, operating and growing it, and selling or perpetuating it at retirement. Each phase brings its own challenges and rewards. About once a year, I encourage readers of this
Departments
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Down To Cases
In 2000, a man was involved in an auto collision in Georgia in which a couple were injured. They filed suit not only against the man but also his employer, a tree surgery service, claiming that the man was acting within the scope of his employment at
