The answer to the above question seems obvious. The right of a business to choose what types of products and/or services it will provide is fundamental to the successful operation of a free enterprise economy. If every insurance agency had to offer the same types of insurance policies and/or services, competition among them would be […]
Read more...Category: Practical Tips
Insurance Certificates – Use of Additional Remarks Schedule
A couple of weeks ago I wrote a blog post on the legality of agents issuing opinion letters about the coverages provided by their insured’s insurance policies. The next week, I received an email from a participant in the Free Legal Service Program that I run for the Independent Insurance Agents of Georgia asking me to […]
Read more...Brokerage Fees – Revisited
A recent Bulletin from the Insurance Commissioner’s Office has caused me to reconsider a blog post from almost five years ago. In the Bulletin, the Insurance Commissioner reminded brokers who handle excess and surplus lines policies that they cannot collect sums for those policies in excess of the “premiums and charges for insurance specified by the […]
Read more...Insurance Certificates and Opinion Letters
My last post about insurance certificates was almost two years ago. At that time, the consensus seemed to be that issues regarding them were declining as all the interested parties became more familiar with Georgia’s law and regulations. However, I learned from a recent participant in the Free Legal Service program that I run for members of […]
Read more...Severe Weather Issues for Insurance Agencies
Given the likelihood that Hurricane Irma will have a significant impact on the Georgia coast and potentially other areas of the state, I thought it would be a good idea to remind agency owners of the rules regarding payment of their employees if their offices are closed. My blog post in January of this year explains those rules […]
Read more...Is An Agency Required To Obtain A License When Its Agent Must Obtain a Non-Resident License?
My last blog post dealt with the question of when an insurance agent must obtain a non-resident license if they are placing insurance coverage for a risk located in another state. This post will explore the related question of whether the agent’s insurance agency must also obtain a license from the insurance department of the other […]
Read more...When Are You Required to Obtain a Non-Resident License?
Unlike most summers, this one has been very busy for my law practice. I have been involved in the sale of three of my insurance agency clients in the past couple of months, which is one reason I haven’t been as diligent as I should have in making blog posts. This post concerns an issue that has arisen in each […]
Read more...IIAG Annual Convention – What You Missed Too
My last post described what Harrison Brooks of Reagan Consulting had to say to those who attended IIAG’s annual convention earlier this month about major trends affecting the insurance industry. He also had some advice on how an agency can determine if it is doing what needs to be done to be successful in the long […]
Read more...IIAG Annual Convention – What You Missed
The 120th annual meeting of the Independent Insurance Agents of Georgia was held earlier this month. It began earlier than usual with a two hour legislative panel on Thursday afternoon followed by morning meetings on Friday and Saturday, which ended an hour earlier than usual. However, the information and networking opportunities provided were as valuable as […]
Read more...What You Don’t Know About a New Employee Can Hurt You
As employers, agency owners need to be aware of the ways they can get in trouble due to the actions of their employees. Many owners are probably aware that they can be held liable for acts of their agency’s employees committed while performing their duties on behalf of the agency. This legal concept is known […]
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