Help Wanted!

Posted by on Jun 26, 2015 in Articles, Industry News |

Do you have a need for recruiting and hiring great talent?  Do you have a succession plan in place if workers leave or retire? Agents and insurance companies share this common need: attracting and hiring qualified employees.  Thanks to new legislation signed by Governor Scott on June 16th, the process is going to be much easier. The centerpiece of House Bill 1133 is workforce development.  It aims to create a college-to-career pathway for...

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What’s an RBC Score?

Posted by on Oct 21, 2014 in Industry News, Marketing, Sales |

I know you’re all sitting up late at night wondering how to explain the Risk Based Capital (RBC) score to your customers, so here we go! RBC is a score used by state regulators to determine if an insurance company has enough capital to support the policies it has issued. Capital is money in the bank, also known as surplus. Not only is the RBC analysis a warning system for regulators, the Office of Insurance Regulation (OIR) must take certain...

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I Didn’t Even Know I had an OFAC!

Posted by on Sep 4, 2013 in Compliance, Industry News, Underwriting |

Well you don’t, but the Feds do.  Before I get into that, can I just say that I think there’s a competition between the government and the insurance business to see who can come up with more acronyms.  So far, I think it’s a push. The Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department administers economic and trade sanctions based on U.S. foreign policy and national security against targeted foreign countries,...

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Florida Trend: The state of property insurance in Florida

Posted by on Jul 3, 2012 in Industry News |

Florida Trend recently published two articles on the state of property insurance in Florida that should be of interest to our readers: Property insurance in Florida is a house of cards   By Mike Vogel After a string of quiet hurricane seasons in Florida, insurance companies have been able to build substantial reserves using past years’ surpluses. Those reserves mean Florida could financially withstand a storm causing up to $20 billion in...

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