My last post concerned the exemptions from the overtime payment requirements of the Fair Labor Standards Act (“FLSA”) that will most likely apply to the employees of an insurance agency. While the job duties of a customer service representative can probably be defined in such a way as to qualify him or her under the […]
Read more...Category: Producers
What Are You Doing to Ensure the Success of Your Agency’s Producers?
Last week I wrote about the need for an agency to have a perpetuation plan and what goes into creating such a plan. For those agency owners who want to pass on their agency to family members or other employees, it is important to have both a healthy agency operation and able buyers. These two […]
Read more...Department of Labor Goes After Independent Contractors
A little over a week after issuing its Notice of Rulemaking that will result in more than doubling the minimum salary that must be paid to an employee for them to be eligible for the administrative or executive exemption from the overtime pay requirements of the Fair Labor Standards Act (“FLSA”)(click here for my blog post on […]
Read more...Which Agency Employees Can Be Exempt Employees for Overtime Pay Purposes?
In last week’s post, I mentioned the concept of exempt and nonexempt employees and provided a brief description of what makes an employee exempt from the requirement under the Fair Labor Standards Act (“FLSA”) that employees be paid extra compensation for any work done in excess of 40 hours per week. This subject is an important one, as […]
Read more...Successful Young Producers – What do They Have in Common?
Would you be surprised to learn that a slight majority of the successful young producers studied by Reagan Consulting, an Atlanta-based insurance industry consulting firm, were recruited right out of college and most of the rest came from another industry? How about that the producers who had GPAs in school under 3.0 (a B average) achieved validation(i.e., the income […]
Read more...How Should Producers Be Paid?
This month’s cover story for the IA Magazine focuses on the various ways in which successful agencies are paying their producers. According to a recent study by Reagan Consulting, for the most part, there was little or no correlation between agency growth and the use of many standard producer compensation models (e.g., paying less for renewals than existing business, […]
Read more...What are Your BYOD Policies?
I had an interesting telephone call today on the Free Legal Service Program that I run for the IIAG. The caller’s questions were good ones for which I could not provide definitive answers. They concerned what rights a former employer had to the information stored on a former employee’s smart phone. Under Georgia law, in the absence […]
Read more...Employers Beware
The IRS and U.S. Department of Labor are cracking down on the misclassification of workers. It has become a high priority for both government agencies in these days of tight budgets due to the significant financial penalties that can be imposed on employers who improperly classify workers as independent contractors when they should be treated as employees. Merely […]
Read more...