August 24
LTC FINANCING: Breakthrough Proposal Looks to Private Sources
By Wesley Yin LTSS includes institutional care, community- based assistance, and homebased assistance with daily living activities. Elderly households’ LTSS expenses in the event of cognitive or physical impairment present the largest source of out-of-pocket spending risk. The average 65-year-old couple can expect to spend $65,000 on LTSS, and five percent of elderly couples can […]
Donald Trump
What a great attention getting headline. Just use his name and, bingo, you get attention. I anticipate some brave entrepreneur seeking to franchise Trump Insurance or Trump Brokerage. Competitors might include Kardashian Risk Management or Jenner Reciprocal Underwriting – figure that out. The presidential campaign has become a Branding Battle. Agents and brokers fight that […]
Disconnection
One of the most important tasks in advising insurance company or producer management over the years has been to stress the importance of reporting violations – no matter how minor, incidental or innocent – to the regulatory authorities. The challenge is to overcome management’s fear of repercussions that often outweighs the potential consequences of not […]
It Takes More Than an Injury to Trigger Liability, Flood Insurance Debris Removal Coverage Gaps, Risk Purchasing Group Coverage Shortcomings, 10 Most Expensive Hurricanes to Strike the U.S.
It Takes More Than an Injury to Trigger Liability Michael Mossberg slipped and fell into the water while disembarking from a friend’s sailboat. Mossberg was injured and sued the marina where the boat was docked. The Supreme Court of Nassau County ruled in his favor and Crow’s Nest (the marina) appealed. The appellate court reasoned […]
Don’t Be A (F)SAP!
In April 2015, the International Monetary Fund (IMF) issued Country Report 15/90 (i.e., The Financial Sector Assessment Program report). The report is dated March 2015 and analyzes the United States in terms of adherence to the Insurance Core Principles (ICPs) formulated by the International Association of Insurance Supervisors headquartered in Basel, Switzerland. The United States […]
Rey Insurance: Taking Their Agency to the Next Level
By Kelly Donahue-Piro Family and insurance tend to go hand-in-hand but for the Rey sisters, Laura and Linda, they take running a family-based business to the next level. The dynamic duo purchased the agency from their father in 2013 and have relentlessly pursued agency growth ever since. Rey Insurance, in Sleepy Hollow, NY, focuses on […]
Basis of the Business Model
There are a few tenants of modern life that everyone should know and heed. Among them: Change your digital passwords regularly; never hitch a ride with a stranger (unless you know the Uber driver is fully insured); and don’t believe everything you see on the Internet. It’s amazing what you find there. So many websites […]
Five EASY Ways Your Agency Can Create Engaging Content
Creating engaging content on social media is not only easy, but it can be very enjoyable and also contribute to strengthening relationships within your insurance agency. When we say easy, we mean it. This strategy requires only creativity, your team, and a camera! Believe it or not, content that requires minimum effort and the most […]
Not Every Prospect Deserves Your Time and Attention
I read an article this week about a young consumer (in his early twenties) looking to buy a car, register and insure it. As luck would have it he intended to get a premium indication on a Friday afternoon and planned to buy the car over the weekend. The premium indication was to be based […]
