Tag: insurance

7
Jan

Ricardo Lara pledges to confront climate-fueled wildfires, fight fraud, expand health care as next Insurance Commissioner

SACRAMENTO, Calif. – Ricardo Lara took office as California Insurance Commissioner at a ceremony in Sacramento on Monday, January 7, pledging to help Californians recover from wildfires while defeating the threat of climate change. Commissioner Lara is the eighth Insurance Commissioner of California since voters created the position in 1988.

30
Dec

Greater consumer protections coming in January 2019; especially for seniors and future fire survivors

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.

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.