Yearly Archives: 2023

Managing Carrier Risks in Your Book of Business

By: Colby AllenAs an insurance agency owner, managing risks within your book of business is crucial for ensuring long-term success and profitability. With so many places facing hard markets, it's essential to adopt strategies that safeguard your top and bottom lines while providing excellent service to your clients. In this article, we will explore three key areas that can help you effectively manage risks and actualize your agency's potential.Aligning with Multiple Partner Carriers Can Help De-Risk Your Top and Bottom LinesOne of the most effective ways to manage risks within your book of business is by aligning with multiple partner carriers. When it comes to…

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DFS Revises Proposed Cyber Reg Changes

​The New York State Department of Financial Services (DFS) today proposed revised changes to its cybersecurity regulation. Today's publication in New York State Register​, the state's weekly compilation of regulatory changes, modifies amendments DFS proposed last fall. The revisions proposed today respond to comments Big I New York and others submitted earlier this year on the first proposal.Most Big I New York members are agencies with eight or fewer employees. Much of the impact of the proposed amendments is on larger organizations such as carriers and banks. However, our preliminary review of today's proposal found some changes that affect all agencies and brokerages.Last fall's proposal would…

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Culture Corner: What Matters When Adding to Your Team

​By Julie FurstWhat matters when choosing a new team member:SkillsetExperienceAttitudeCommunication stylePotential for growth and learningWork ethicWillingness to collaborateWhat doesn't matter:What they look likeWho they loveIn fact, diversity in your team helps you understand, empathize with, and serve more people. More customers.And different experiences and viewpoints just make life more interesting.Source

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