All GLG News Analyses Filed Under: Insurance & Risk Management

Staff will do all they can to ensure the growth and profitability of agency in which they have a vested, financial interest. Staff whom have such a benefit will stay longer as most competing agencies (meaning those competing for experienced insurance professionals) do not offer lucrative benefit packages...

    Great points about brokers being required to place business to maintain appointments, and also the increased costs associated with licensing compliance of a large stable of agents. Regrettably, neither of these carrier costs can me passed on legitimately in a "service fee" the...

Anyone would agree that bid rigging is criminal. Even that water gets murky if a broker purposfully targets bids to a preferred carrier, and then to other carriers already known to be denying new business.  The same can be said if a broker intentionally bids carriers already known to be super high...

I am in the middle on the author's comment and the response.  Those are both great points. However, the big concern here is bid rigging.

If restrictions are not applied to building in flood prone zones, there will be continual loss of property and life. Insurers cannot absorb the burden of local government zoning that allows scenic building without the cost of insurance going up. The result of loose zoning without the requisite...

The  Marketing-Underwiter or Broker-Underwriter balances selling with competitive rating.  Many carriers have learned the hard way that it tends to win a lot of underpriced business.       The issue of independent brokers being compensated by the carrier...

Broker preparation of underwriting data for property/casualty insurance placements can benefit buyers of insurance products by faster and pertinent data assembly which both enhances underwriters understanding of key risk factors and speeds the underwriting process. This makes new placements and...

1.Strong military vs economic development. 2.Huge population means economic development takes time to reach all corners. 2.Huge population means economic development takes time to reach all corners.

Banks and insurance agencies and brokerages have long viewed each others as natural allies, and acquisitions of agencies by banks have increased significantly in recent years. The recent disposal of insurance agency operations by Bank of America and JP Morgan suggest a reconsideration of their stra...

It is very unlikely that 2% service fees for membership cards, and claims administration will match lost prohibited production and profit sharing revenue volume. September 2007 Ohio sues Zurich, Travelers, Chubb, Marsh Hartford and Ace on Anti Trust.  Carriers are insulated, but brokerage houses...