The Tennessee State Government is expected to make changes to its laws regarding captive insurance this week. A bill that would allow the formation of new captive insurance companies is on its way to Governor Bill Haslam’s office, where it is likely to receive his signature and be passed into law. The state has not passed any new legislation regarding captives since 1990, which fostered in 16 new companies. According to legislators, the bill will not only bring jobs to the state, but also provide insurance companies more incentive to…
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The future of insurance agencies and the broker’s role
In case anyone hasn’t noticed lately, we have come to the point in time where things are changing around us daily. Everything in business has to evolve with these changes to keep up and stay competitive. Insurance carriers and independent agencies alike are now trying to figure out what they can change, without changing what needs to be changed. It’s like the old saying, “can’t see the forest for the trees.” The insurers and the independent agents both have business specific issues, but neither one can see them. The insurance…
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