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The California Department of Insurance announced new bills coming in 2019. You can read the full Press Release below. SACRAMENTO, Calif. — The new year will ring in with four additional bills sponsored by the California Department of Insurance taking effect January 1, 2019 and three other bills becoming active later in the year.
As reported on Insurance Journal, the largest California insurers have so far reported more than $3.3 billion in insured losses from the October wildfire siege, now considered the most destructive fires in state history. Insurance Commissioner Dave Jones on Tuesday updated insured loss claims data provided by 15 major insurers for residential and commercial claims resulting from the October wildfires
Insurance Agencies are unlike any other business mainly due to the fact that there’s a measurable revenue stream that buyers can depend on for years to come. There’s still an abundance of buyers in the market, so selling your insurance agency today, makes sense if you’re considering selling in the next 5 years.
Californians for Fair Auto Insurance Rates has gained enough support to place a voter initiative on the June 8, 2010 ballot, aimed at rewarding drivers who have had insurance for some time to be eligible for a “persistency discount,” even if they change carriers, the Secretary of State certified.
In 2009, independent insurance agents and brokers faced a “perfect storm” of economic downturn, premiums were a fraction of what they used to be, unemployment and home foreclosure rates were up, and the association’s membership declined. But 2010 may be just as tough, said Kevin Baker of Suhr Risk Services Inc. based in San Jose, Calif.
California Insurance Commissioner Steve Poizner has issued proposed regulations for Pay-Drive (Usage Based Auto Insurance), and is accepting public comments on the proposal until 5 p.m., Thursday, July 9, 2009. According to the Commissioner, “Insurers frequently rely on consumers to provide their own estimates of the number of miles they drive annually.
Despite the bad economy, soft market and freeze in lending, Insurance Agencies for sale are still in demand. If you have a profitable agency and are looking to sell it, there are plenty of buyers in this market. While most Main Street businesses are struggling to stay afloat let alone sell, Insurance Agencies remain in demand because of the renewal
Location: San Bernardino County, California Annual Revenue: $132,000 Commissions, $105,000 brokerage fees, $23,000 premium finance fees. Total $260,000 Asking Price: $315,000
We receive multiple calls and emails weekly from business owners asking how to hire a business broker. Another question we hear a lot of is; what are the costs associated with hiring a business broker? Can I hire a business broker if I’m buying a business? What are the other advantages of hiring a business broker? This post will answer
When buying or selling a business in California, you should have a team of advisers assist you. You need a team of 3 professionals consisting of a Business Broker, CPA and Attorney. Each one will play a vital role and in spite of the fees or commissions paid to your team, you’ll come out ahead. The knowledge of selling businesses