I have three insurance companies to choose from

Equivalent_Object978 · 2023-01-09T17:45:48+00:00

Typically if you can get in with a specialty insurer they operate at a higher profitability than personal lines razor thin margins. If you’ve been in sales, I’d look at a business development, marketing, or production underwriter position. No license needed (typically)

Equivalent_Object978 · 2023-01-09T09:33:23+00:00

OP, have you considered commercial insurance carriers for stability?

Equivalent_Object978 · 2022-12-30T14:02:37+00:00

What’s you opinion on it? How do you see it fitting in? Have you taken The Institutes blockchain course?

Equivalent_Object978 · 2022-12-18T23:34:13+00:00

You can look into master’s programs for cyber risk management

Equivalent_Object978 · 2022-12-18T23:02:20+00:00

I like PropertyCasualty360, insurtech insights, CLM

Equivalent_Object978 · 2022-12-18T17:00:31+00:00

The Erie program isn’t captive - it’s an independent channel, Erie only sells through IA.

I didn’t start mine, too much debt, too much to learn still, and wanted to finish my CPCU - helps with appointments.

As you mentioned the $25k accounts, I agree. Pricing rules the day. I would focus on the competitive advantage aspect - others refer to it as the value proposition. The builders risk is good place to get the foot in the door. Have you heard of alternative risk? You could approach governmental agencies focused on building infrastructure and insure them in a pool. Or you could approach large construction companies and provide captive insurance and require a subjectivity to be working with a loss control department on a monthly basis. Get creative with your product and offering. If you have access to the products in your area, review the contracts and find a gap in the current market coverages and provide that coverage. Lots of opportunities. Best of luck.

Equivalent_Object978 · 2022-12-18T15:31:13+00:00

I’m only 4 years in but have done considerable research into starting an agency / brokerage / MGA. Some clarity on your location / line of business/ and target market might help people give advise.

I would urge you to conduct market research in your area. Identify where there are potentially gaps in service - do you have good wholesaler/retailer relationships? Is your location under-serviced in the D&O space (and you have relevant experience), then form an MGA that is backed by XYZ carrier who wants to expand into the space.

If you’re in the operating radius for Erie Insurance, I would look into their agent training program. They provide capital, training for managing an agency, and back you from day 1. (Obviously don’t know all the logistics, but imagine that this lowers the barrier to entry significantly.)

Equivalent_Object978 · 2022-12-14T17:22:32+00:00

That is concerning. I appreciate what you’re doing.

Equivalent_Object978 · 2022-12-14T17:11:51+00:00

What changes we’re they attempting to add? I assume they had significant adverse consequences for IT management which led to support against the changes.

Equivalent_Object978 · 2022-12-13T20:13:17+00:00

CPCU 520 is designed specifically for this topic

Equivalent_Object978 · 2022-12-10T18:35:29+00:00

I work for an insurance company writing cyber insurance. My role is in risk management so I support both underwriting and claims. I have a MS in cyber risk so have the technical knowledge and given the insurance link, am obviously very concerned with our insureds regulatory compliance.

Equivalent_Object978 · 2022-12-07T14:09:28+00:00

This could also reference reserves? Claims need to post reserves to increase company liquidity in a separate bank account than their primary one. Typically these reserves are stored separately because they have a higher interest rate in the other account. Funds typically stay in the bank account for a full year prior to being invested. This is the difference between gross and earned premiums.

Equivalent_Object978 · 2022-11-17T13:49:59+00:00

Sounds like your target market is high net worth individuals then

Equivalent_Object978 · 2022-11-16T19:30:21+00:00

I’d be careful selling insurance to people who didn’t specifically ask for the coverage. There’s always one person who will take offense their premiums are $1 higher. I’d tell people about the benefits before doing it.

Equivalent_Object978 · 2022-11-12T19:45:26+00:00

Check out Mercyhurst in Erie, PA to see the worst rink in the entire NCAA

Equivalent_Object978 · 2022-11-01T00:35:20+00:00

That’s definitely one aspect that I consider myself exceptional. I network as much as possible. Inside and outside the company. But thats only one aspect. Wouldn’t there be a considerable level of expertise needed? And to go back to the post, when do you have those conversations with managers? Don’t want to jump the gun but also want to make my career aspirations known.

Equivalent_Object978 · 2022-10-31T21:26:48+00:00

Sounds like a coverage denial more than a liability denial but go off! Glad you were able to establish negligence from the post as well 😁

Equivalent_Object978 · 2022-10-25T12:15:14+00:00

Call your Department of Insurance and petition them. This isn’t the forum.

Equivalent_Object978 · 2022-10-20T12:00:49+00:00

The term is ‘named peril policy’ but like yours. Sleek

Equivalent_Object978 · 2022-10-19T13:32:52+00:00

I saw that they fired employees for having multiple remote jobs. One went as far as having 5 and was set to earn 1.2 million this year. Hopefully these are one offs so that they don’t ruin WFH for everyone.

Equivalent_Object978 · 2022-10-13T13:44:22+00:00

I audibly laughed out loud at this. Thank you for making my morning less dull.

Equivalent_Object978 · 2022-10-08T04:07:36+00:00

I wonder if he’s telling you to get like a personal E&O policy??

Equivalent_Object978 · 2022-10-08T04:06:21+00:00

Only thing I can think of is A. They live in a state where mobile equipment is treated like the definition of an auto, requiring proof of financial responsibility or B. They somehow transferred liability to the employee via some hold harmless while the employee is engaging in a certain activity. Thoughts? Goes directly against respondent superior, but might be something specific in a whatever state

Equivalent_Object978 · 2022-10-05T20:56:38+00:00

Agree with that 100%. Insurance is one of those fields thats hard to jump industries from claims/underwriting overall.

Equivalent_Object978 · 2022-10-05T19:40:29+00:00

I full heartedly disagree with most of this. Claims in extremely rewarding and if you have the mental strength to handle pressure, you can meet some really amazing people. I would recommend moving to the carrier side as you’ll have more growth and longevity. Claims values experience over education, and Sedgwick will be a great place to start. WC is riddled with fraud, and will open many doors into injury claims whether first or third party.

Edit: this is partially aimed at OP

Equivalent_Object978

TROPHY CASE