American Agent & Broker September 2009
Cover Story
The "R" word
Trust, commitment, communication, compatibility: They're the building blocks for any relationship, whether it's a friendship, marriage, or the unique bond between an independent agent or broker and the insurers they represent.
Features
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Gutting it out
Independent agents and brokers, responding to a years-long soft market, already have been doing more with less
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Get the 411: The '80s are, like, totally wicked
AA&B readers have spoken! More than 550 readers voted in our online poll and your favorite decade of past stories is the rad '80s.
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Insuring against employee fraud
In today's recessionary times, more businesses--maybe even your own--need to be worried about employee fraud.
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An additional insured: A false sense of security
There's an old joke that applies to our business: "If you fall off a 40-story building, 35 stories down everything's fine!"
Columns
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Clearing confusion on cloud computing
At places I visit, I find that many of the local folks comment about the weather: "If you don't like it, wait 10 minutes and it'll change."
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Strictly Sales- Good questions give agents a leg up
In the insurance sales process we often talk about the need to gather information before providing solutions to a problem. Otherwise, there is a chance our solutions and the prospect's problems are a mismatch.
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The Last Word- Good shouldn't mean "less bad"
It's easy to get depressed about the bad economic news in the media, but sometimes the news can be downright bizarre.
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Editorial: Dark, with scattered light
Late comedian George Carlin's classic weatherman routine stated the obvious in meteorological terms: "Tonight's forecast: Dark. Continued dark throughout most of the evening, with some widely scattered light toward morning."
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Sounding Board- Agents must know professional liability
Sub-prime crisis, Ponzi schemes, executive compensation, massive lay-offs and downsizing, "never events"--and the list goes on. What do these issues have in common?
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Down to Cases- Rescission is right when insured is "wrong"
On May 28, a much-watched case against Blue Shield of California--for revoking medical coverage of an injured policyholder--ended abruptly
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Policy Issues- To avoid a fall, think summer
Welcome to the bustling of activity that is fall--back to school, football, cooler days and the inevitable countdown of shopping days until Christmas.
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For the Manager- Pennies add to big savings
A penny saved can be worth a lot more in business. When an insurance agency saves a penny through better carrier compensation, it can be worth a dime or even more.
Departments
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Letters from our readers
Letters on "Successful management," and "Imperfect cost guide raises questions."
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Industry IQ: Vehicle collision repair costs down
The average cost of vehicle collision repairs for the second quarter declined by 3 percent compared with the same 2003 period.
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Industry IQ: GAO: USPS needs restructuring
The Government Accountability Office (GAO) has found that the U.S. Postal Service (USPS) is in urgent need of restructuring and is moving too slowly to cut costs
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Industry IQ: Insurers' use of third-party investment managers increases
The number of insurers using third-party investment managers is rising quickly, according to data compiled by a consulting firm.
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Industry IQ: Wal-Mart proposes to vaccinate against H1N1 at its stores
Wal-Mart Stores Inc. and U.S. health officials are discussing the possibility of putting vaccination sites at some Wal-Mart stores for an H1N1 swine flu inoculation campaign this fall, a company official said.
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Industry IQ: Willis: D&O costs spike
Hefty claims against financial institutions, sparked by slumping stock prices, has professional indemnity and directors and officers insurance prices soaring for that sector, according to a report from Willis Group Holdings' FINEX Global unit.
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Industry IQ: House extends NFIP until March
The House has passed legislation extending the National Flood Insurance Program, which was due to expire in 2 months, until March 31.
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Avoiding E&O- Agent in Blunderland
In the looking-glass world of professional liability claims against insurance agents and brokers, words that we take as clear can become unrecognizably twisted and fraught with ambiguity.
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Getting Personal- Marketing is more important now than ever
"When the economy gets tough, the tough get marketing." As we all know, the economy is going through troubling times.
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Agency Success Story- Talented employees lead to happy clients
Named as one of the "Best Places to Work" three times in 2009, Assurance Agency, Schaumburg, Ill., has a lot to brag about.
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Legislative Roundup- Other agent issues besides healthcare on Capitol Hill
In the fall of 2009, there are more issues being debated or considered in Congress with potential impact on professional independent insurance agents than at any other time in recent years.
