Tag: insurance

21
Aug

Strategies for Selling Insurance Agencies under $500,000 in Revenue to Maximize Sales Price

At Ganis Consulting, we receive at least 15 inquiries every month from agency owners looking to acquire insurance agencies. They’re not all new, roughly 1/2 of them are repeat visitors checking in to see if we have new agencies available for sale. The clients we serve are sellers of insurance agencies under $1,000,000 in Revenue (not premium, Revenue or Commission

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16
Aug

Amazon Weighs Formation of UK Insurance Comparison Website: Reuters

A Press Release from Insurance Journal says Amazon is considering a UK Insurance Comparison Website. Amazon.com Inc is sounding out some of Europe’s top insurance firms to see if they would contribute products to a UK price comparison website in what would be a major foray by the U.S. online retail giant into the region’s financial services.

10
Jun

California’s First Cannabis Business Owners Policy Approved by California Department of Insurance

California Insurance Commissioner Dave Jones has approved the first Cannabis Business Owners Policy in the State of California. The American Association of Insurance Services designed the new CannaBOP program for cannabis dispensaries, storage facilities, processors, manufacturers, distributors, and other cannabis-related businesses operating in the state.

30
May

Southern California Insurance Agents Arrested for Fraud – Lock Them Up!

California-based life insurance agents, Samuel Tadlock III, 32, of Eastvale, Marlene Ramirez, 42, of Murrieta, Daniel Herrarte, 34, of Sylmar, and Jorge Lopez Jr., 38, of San Fernando, were arrested this week on multiple felony counts of identity theft and grand theft after allegedly submitting fraudulent insurance applications with information from stolen identities to collect approximately $124,000 in unearned commissions

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19
Apr

When Did the Title Producer in Independent Agencies Become an Oxymoron?

I was in an agency this year and one of the Partners was explaining how their team hired 4 producers in the past 12 months and only one was still employed. He knew the remaining producer wouldn’t be there for long and it was back to the drawing board. We were hired to help the owners train new producers, but

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17
Apr

Insurance Agency Mergers and Acquisitions in Q1 Hit 4th Highest Total per OPTIS Partners

There were 142 announced insurance agency mergers and acquisitions during the first quarter of the year, according to OPTIS Partners’ M&A database. It was the fourth-highest quarterly total, trailing only Q1-2017, Q2-2017 and Q4-2017.

17
Apr

Nationwide Insurance Switching to Independent Agency Distribution Model by 2020

Insurance Journal is reporting that Nationwide is giving 2,000 agents an opportunity to transition to Independent Agents. The Columbus, Ohio-based carrier, which provides a range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance, sells products through both exclusive and independent agents.

20
Mar

It’s Time to Stop Thinking Like Independent InsuranceAgents and Start Acting Like Business Owners

Disruption, data-driven metrics, digital marketing, leads, consumer behavior and a plethora of new terms have entered our space over the past several years.Whether the latest blog, social media post, newsletter or industry conference, these are the terms everyone is talking about in our industry today.

14
Mar

What Cyber Insurance Industry Learned from 2017 Hacks

A recent article in Insurance Journal discusses what the Industry learned from 2017 hacks. he NotPetya, WannaCry and Equifax hacks of last year were evidence that the U.S. insurance industry has been ill-prepared to handle a large cyber attack and needs to up its game. However, as a consequence of the attacks in 2017, the industry and its customers may

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13
Mar

How do I Sell an Independent Insurance Agency or Book of Business?

How do you Sell an Independent Insurance Agency or Book of Business? Over the past 12 months, our firm has received 32 buyer inquiries to every one seller, so sellers are in luck!The demand for small to medium sized standard or preferred agencies is greater than it’s ever been. Personal, Commercial and Benefits Agencies and Books of Business are in

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