American Agent & Broker August 2011
Cover Story
Seismic Shift
FTC’s 2007 examination of credit scoring and the NCOIL regulations widely impacted the use of credit scoring models. Agents—for the most part—have come around to insurers’ use of credit scoring.
Features
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Creative Thinking
Successful agencies find niches by leveraging knowledge in the E&S market
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Private "I"
Learn how to insure clients against privacy losses when dealing with hackers, identity thieves and lawsuits.
Columns
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Guessing Not Included
Agents have no duty to identify their clients’ needs
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The Obvious Choice
Don’t disregard the obvious when searching for coverage
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Words of Wisdom
Learn how to effectively use the power of communication
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Ounce of Prevention
Protect your business from risks related to social networking
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Relationships Are Everything
Successful sales hinge on speaking your customer’s language
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nGI: Darren Hasson
Owner, WHINS Insurance Agency
Departments
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Just Breathe
The passing of industry colleague Maureen Wall Bentley at 47 reminds us to take the time to just breathe.
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Prepare to Exit
Agency principals have left thousands—and in some case millions—of dollars on the table by failing to properly prepare to exit their businesses.
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IQ: Vermont Best, Florida Worst in P&C Regulatory Study
Vermont has been ranked the best state on its property-casualty insurance regulatory environment, and Florida the worst state, according to a report from The Heartland Institute.
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IQ: O.co (Overstock.com) to Offer Insurance
Insurance buyers can now use O.co, also known as Overstock.com, to get automobile and home insurance quotes thanks to a partnership with independent insurance agency Answer Financial.
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IQ: Study: Google Revenue Generated from Insurance and Loan-Related Words
Insurance-related keywords result in 24 percent of Google’s AdWords revenue, more than any other search term, according to a WordStream study. Search terms using the word "claim" came in at No. 10.
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IQ: More Americans Optimistic About Retirement
Despite the economy, more Americans say they are confident in their personal finances and expect financial improvement during the next 12 months, according to a study from The Hartford. Consequently, more Americans are saving for retirement.
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IQ: New York Costliest State for Mortgage Closing Costs
For the second year in a row, New York is the most expensive state for mortgage closing costs, according to a survey from Bankrate.com.
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Reasonable Care or Fiduciary?
Always strive for best practices and avoid litigation
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Operation Turnaround
A stressed agency recovers with determined new owner and staff
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Legislature Wrap Up
NRRA, rate modernization, tort reform provide a busy year
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Market Directory: Miscellaneous E&O
