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for the week of April 25, 2025

Education + Analysis for the Independent Agent

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Advantages of Big 'I' Membership * Agency Management * Commercial Lines * Personal Lines * Insurance Laws & Statutes/Coverage Resources

There will be no edition of Insurance Illustrated next week due to the annual Big "I" Legislative Conference. Our team is working on updating the layout and cadence of this newsletter. The next edition will be sent on Friday, May 9.
Trusted Choice Agency Social Media Guide
With this guide, agents can learn tips on reaching their ideal audience, streamlining their content planning, and maximizing results across top social media platforms. It’s a resource tailored specifically to independent agents of any social media level.
Social Media Tips for Insurance Executives
Whether you are new to using social media to increase customer engagement or want to increase new business leads, how you communicate across the multiple social media platforms is critical. Whether you’re a seasoned veteran of tweeting and other platforms or you’re just dipping your toes in the social media waters, this article provides ten top tips for using social media outlets to improve your online presence and increase leads.
A Single-Payer System and the Independent Agent
As the presidential race cranks up you will hear more and more Medicare for all, a.k.a. the single payer plan. What you won’t hear much about are the ramifications that will ripple through the insurance industry. It’s imperative that Big “I” members and your customers understand the magnitude.
A Word About S-Corporation/LLC Status
Taxes, what would we do without taxes? (I’m sure most of us would like to find out.) When choosing your business entity type, you need to understand how each is taxed. This brief article lays out a few important taxation facts surrounding C-Corps, S-Corps and LLCs.
The Insurance Agent’s Guide to Selling Flood Insurance
NFIP helps protect homeowners and businesses from the most frequent and one of the most devastating natural disasters. Many agents don’t wade into flood coverage, so there’s a reason we are writing this article. If you fail to offer flood insurance, even on an excess basis if you are currently writing flood coverage, you open the door to another agent taking your entire account and an errors & omissions risk. You do not need to be an expert on flood insurance to help your clients feel secure and to position yourself as a valuable resource within your community. After reading this article, you will have a stronger understanding of the National Flood Insurance Program (NFIP) Flood insurance. Here is a guide to understanding flood insurance's essentials and how you can begin to sell.
Understanding Engineering Insurance and Deterioration of Stock Insurance: A Guide for Insurance Agents and Carriers
ncreasing sales by selling lesser-known coverages can not only boost your bottom line, but it can also provide new referral sources from existing clients. Learn more about two coverages, Engineering Insurance and Deterioration of Stock insurance. These coverages can help protect florists, contractors, pharmaceutical companies and more. Learn more about these important coverages in this article.
Calculating the Insured’s Lowest Possible Work Comp Mod
Once the mystery is removed from the experience mod worksheet, development of the lowest possible experience mod is quite easy. This article shows how to develop the lowest possible mod while at the same time highlighting the fact that achieving this mod may not have the intended result.
Reducing Workers’ Compensation Claim Frequency and Severity is Critical to Reducing Your Client’s Experience Modification Factor
No matter the size of your client’s workforce, their management of the organization’s workers’ compensation injuries can be challenging. Every organization struggles to find new ways to reduce the number of injuries (frequency) and decrease the amount paid on claims (severity). Here are some suggestions that you can use in guiding your clients toward improved workers’ compensation claims avoidance and management.
Homeowners Functional Replacement Cost
Our "Ask an Expert" service got a question this week from an agent who represents an insurer who has begun using a Functional Replacement Cost Loss Settlement endorsement on older homes which have construction materials that are obsolete, antique, or custom. This endorsement says that in the event of a claim, the damaged building will be repaired or replaced with less costly common construction materials and methods. The big issue is how to arrive at the Functional Replacement Cost limit.
Credit Freezes and Insurance
Were you affected by the Equifax breach? There is a 1 in 2 chance you were. Even if you weren’t, there are certain steps you can take to fight identity theft, including “freezing” your credit. Yes, there are some downsides to this, but saving your good credit may be worth the aggravation.
How Does a "Person" Become Legally Liable?
Liability policies, whether the HO, PAP or CGL, respond when the insured is judged to be “legally liable” for the injury or damage. But how is “legal liability” determined? That is the question answered in this short article.
Trust Endorsements
Checkout this document with information about trust endorsements by state.
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