The economic recovery and the increases in prices have helped to boost the largest publicly traded insurance brokers as a whole throughout 2011 when compared to the year before. According to the director at Stifel, Nicolaus & Co. Inc., Meyer Shields, these two factors were very helpful to the collective fortune of these insurance brokers. He stated that “It’s not the strongest recovery we’ve ever seen. It’s not the strongest rate cycle we’ve ever seen. But it’s helping.” The industry has discovered that as there is not as much income…
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Consumer Agent Portal announces new online resource to connect independent agents with consumers
As the provisions of the Affordable Care Act begin to come to fruition, the role of independent insurance agents is becoming more vague. In an effort to embolden independent agents, the Consumer Agent Portal LLP, a coalition of property/casualty insurers that support independent agents, has launched a new online resource system that is designed to give agents access to the 65% market share they are missing out on. The system will take advantage of the growing electronic market, which is becoming a major playing field in the world of insurance…
Read MoreHHS upholds medical loss ratio provision, changes some aspects of the overarching law
Despite daunting opposition, the Department of Health and Human Services has remained firm on the medical loss ratio provision of the Affordable Care Act. The medical loss ratio provision requires that insurers pay no less than 80% of premium money on improving medical care. The provision has gained rabid opposition from the nation’s health insurance companies, who have been fighting to have administrative expenses and independent insurance broker fees removed from the mandate. The HHS, however, has issued a final ruling on the matter, claiming that most of the nation’s…
Read MoreInsurance agents advised to create customer contact with social media tools
Social media and mobile commerce are becoming increasingly popular among business owners and insurance agents are being advised not to miss the lesson that has been learned by more than half of all business owners already. According to a survey called SB Authority Market Sentiment Survey, performed by Newtek Business Services, The Small Business Authority, which has more than 100,000 business accounts in its portfolio – 2,200 of which were polled – 57 percent of business owners are already working to bring in new customers through the use of social…
Read MoreDigital Insurance Inc. offers complimentary healthcare reform webinar
The top employee benefits agency for speed of growth, Digital Insurance Inc., has sent out invitations for a free webinar that they have entitled “The Agency of the (Not So Distant) Future”, which will be held on Thursday, November 3, at 2 pm. The chief marketing officer and executive vice president of Digital Insurance, Mike Sullivan, will be using the seminar to make a presentation of his vision of the successful agency of tomorrow, and to go over the type of knowledge and infrastructure that will be required in order…
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