American Agent & Broker March 2008
Features
Soft market sends E&S underwriters back into the field
The E&S marketplace has had a heady run in the last decade, growing to nearly $38.7 billion in premium in 2006 from $9.2 billion in 1996, according to A.M. Best. Over the same period, its share of the commercial-lines market rose to 14.37% from
Features
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Living the dream: A boat enthusiast finds his niche
In a perfect world, we could all make a living doing what we love to do. It took quite a few years, but recently I was able to make what I like to do and what I need to do finally dovetail: I'm a boating enthusiast who sells boat and...
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How to avoid being a target for E&O claims
(This article was adapted from Ms. English's presentation at the 2007 ASCnet TENcon meeting, which was held last October in Orlando, Fla.) There are two types of insurance agencies: those that have had E&O claims and those that are going to.
Columns
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Strictly Sales: To cope with the soft market, try 'Seven and Seven'
Have you ever used little tricks to help you remember important facts? It's time to use one again. Let's take a look at an old recipe for success that's being overlooked in the soft market. I call it the "Seven and Seven" rule, and I use it to remind
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Policy Issues: Ethics: A matter of being careful, as well as doing right
Welcome to March, where we again join the CPCU Society and other insurance organizations in celebrating National Ethics Month! In this column, I'm going to revisit a lesson that can't be taught enough: Actions have consequences--and then more
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For The Manager: Take off the blinders and see your market's potential
When valuing a business, one factor an appraiser considers is market potential. There are admittedly times when an agency's potential seems to be limited, but this is almost never actually the case. Market potential for 99% of insurance agencies is
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Agency Technology: The top technology trends of 2008-Part II
Welcome back: Part I of this article appeared in last month's issue. To recap, the first five technology trends were going "green" (some clients are highly motivated by "green" ways of doing business); telepresence (webinars, live chat, webcams,
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What's Going On: It's time for me to call it a career and recall a friend
At some point in your working life, if you are lucky, you will come to the realization that you've had a fulfilling career, and that the moment has come to retire. In fact, it will seem like the most natural thing in the world. That moment has come
Departments
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New Policies
Zurich introduces "Side A" D&O productZurich introduced Zurich Side A Executive Asset Protection. The policy provides coverage for directors and officers and others with fiduciary responsibilities whose personal assets may be at risk due to
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Down To Cases
Agents must inform clients of failure to obtain requested coverageInsurance agents and brokers get into trouble when they fail to properly communicate with their clients, as the following case from the U.S. District Court for the District of South
