American Agent & Broker February 2009
Cover Story
Balanced Budget: Personal Lines Provide Stability In Volatile Market
The traditional growth model for "serious" property-casualty agencies and brokerages typically has centered on commercial lines business. Agencies that sold personal lines coverage did so more as an accommodation for the CEOs of their top
Features
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Finding Green in Difficult Times
News lately has been grim--layoffs, manufacturing plant closures, and bankruptcies--and the duration of the economic slowdown is uncertain. For producers, the economic situation points to reduced premiums, particularly for policies rated on
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Flood Coverage Not All Wet
With several years of erratic weather behind us--and predictions of more to come--flood is an increasingly real threat to many U.S. homeowners and businesses. WSI Corp, a Massachusetts-based provider of weather-driven solutions, predicts 13
Columns
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Editorial: Make Sense of the Chaos
Huzzah! Everybody and his proverbial brother is predicting that 2009 will be the year the soft market finally starts to harden. Reinsurance prices reportedly were firm during the January renewal period, which
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Agency Technology: Practical Tips for Remote Employees
Some call it "telecommuting." Others call it "virtual staffing." Bottom line is that more and more people are working away from the office every year. Smart Phones, laptops and other portable
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The Last Word: Main Street Agents in it to Win
It was with a sense of disbelief that I read the guest column in the October issue of American Agent & Broker, "Get on Board or Get out of the Way" by CIAB president Ken Crerar, in which he suggests that
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Down to Cases: Leased Hunting Property Raises Risks
A reader, R. L. Taylor of Renewable Energy Systems, Broomfield, Colo., wrote to ask about any cases relating to insurance for property leased out for hunting purposes--Taylor and his employer lease out
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Policy Issues: "Modern Love" Not Reflected in Auto Policy
"All you need is love!" sang the Beatles. "Love is all you need!" Alas, in this month of romance, all too often we are reminded that sometimes it just doesn't work out that way. Too
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Letters
Service Centers Increase ValueI liked Chris Burand's article on service centers, "Service Centers: Are They Worth It?" in the December issue of American Agent & Broker. One thing I would add is the impact they may have on the
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Strictly Sales: Feedback-The Breakfast of Champions
Back in the 1950s, my first real job was working after school and on weekends in the neighborhood five-and-dime store. I already had been distributing the store's sales flyers for a couple of years, but now I
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For the Manager: Bring Value Through Specialization
Focus, specialization and expertise in a specific area are keys to success. A November 2005 Best's Review article described how highly focused niche carriers outperform their larger and more diverse competitors
Departments
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Industry IQ: Independent Agents Embrace Technology
According to a survey conducted by Professional Insurance Agents associations in Connecticut, New Hampshire, New Jersey and New York, members in those states used real time transactions and comparative rating more
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Industry IQ: Buckle Up: Small Cars Need Better Crash Protection
Though small cars are more popular as gas prices fluctuate, they offer less protection than larger vehicles. Most new small cars earn good ratings in frontal crash tests, but they are less safe during side and rear
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Industry IQ: Soft Market on its Way Out?
The 5-year soft market is coming to an end, according to a report by Advisen Ltd. The company predicts that average rate levels for commercial insurance will level off by the second quarter of 2009 and begin to rise
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Industry IQ: Credit Crisis Increases Litigation
The number of reported subprime mortgages and related cases filed in federal court during the first 9 months of 2008 already exceeds the total for 2007 by 50 percent, according to Third Quarter 2008 Updated: Breaking New Ground, a report from
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Agency Success Story: Automation Drives Success
Left to right: Lisa Parry-Becker, vice president; Blake Parry, CPCU, CIC, president; and Ryan Parry, treasurer. As independent agency owners, we offer our
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Industry IQ: Looking Back-2008 3rd Highest Loss Year
Though there were only 750 loss-producing events in 2008 compared with 960 in 2007, it was still the third most expensive year for insurers on record, according to Munich Re. The costs are attributed to a large
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Getting Personal: Fill a Need for High-Net-Worth Customers
I started Chartwell Insurance Services 8 years ago on the premise that the high-net-worth individual was underserved in the personal lines insurance market. I had worked for years in the family agency and
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Legislative Roundup: Pay as You Drive: Simple Idea, Complex Issue
The driving habits of Americans drew intense public scrutiny during 2008 as the price of gasoline skyrocketed to more than $4 a gallon in many parts of the country. As Americans drove fewer miles, interest in
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Avoiding E&O: Follow directions-avoid lawsuits by determining requirements and ensuring documentation
Despite my years of experience as a consultant, I still become nervous every time the doorbell rings and the FedEx delivery person is outside with two legal-size boxes of documents for my review. My reaction is
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Industry IQ: Stormy Seas in 2009
The 2009 Atlantic tropical season will bring 13 named storms, 7 hurricanes and 3 Category 3 or higher hurricanes
