Open-eyed approach ends agents' worst nightmare; when agents don't communicate with or understand underwriters, they risk destroying accounts and losing the confidence of clients
Article Abstract:
Insurance underwriters, agents and customers should all try to remember that they are basically on the same side of an insurance coverage partnership. Underwriters frequently face conflict in trying to follow underwriting guidelines when covering new business clients. If underwriters were required to experience the pressures of agency work, and agents tried harder to appreciate the professionalism of underwriters and other carrier personnel, such partnerships could thrive.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1995
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Industry executives receive new marching orders
Article Abstract:
Ownership-changes at several property-casualty insurance companies have created a ripple-effect that will bring changes to the market as the companies have adopted on new profit-oriented management strategies. Profit-oriented managers are less likely to tolerate the costly overhead expenses associated with traditional agent, agency and broker relationships. The rationalization of the industry will eliminate personnel and streamline the organization of the markets.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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It's an E&O jungle out there; relationships between carriers and agents are expanding the exposure to errors and omissions claims
Article Abstract:
Carriers and clients are facing more exposures as the casualty insurance industry changes. Agents who fail to tell their clients about what insurance products are available face more exposure. Many are also dealing with the higher level of complexity involved in doing business. Agents now take on more liability because they are often responsible for total account management. Profit concerns have also resulted in fewer people doing more.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1997
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- Abstracts: Multiplying agency sales: tough times don't faze agents who beat the industry's odds by marketing both life/health and property/casualty products
- Abstracts: Technology is vital to good underwriting; underwriters are using technology in imaginative ways, but there is always room for some improvement
- Abstracts: Captives keep thriving in the soft marketplace. General liability held back on A&E reserving. The other side speaks: three other plaintiffs' lawyers have some chilling thoughts for insurers - and a few surprisingly kind words