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What Is Your Agency’s Number? The Policies Per Customer Factor

​By: Carey WallaceSeveral factors impact the value of your agency. Some of the biggest factors include maintaining a strong and consistent organic growth rate, retention rate, profitability rate, and overall performance. In addition, agencies being aware of the risk factors that impact the value of your agency is key.Once you know these factors, you can work to minimize the risk inside your agency and maximize your value. Knowing the overall risk inside your agency is also critical because it is what any future buyer will take into consideration to help them predict the ongoing performance of the agency. There are many different factors that will…

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Albany Update: Photo Inspection, MVR Verification Bills Pass Assembly, Excess Lines Bill Introduced

This week, the NYS Assembly passed A.3172-A, our bill to allow carriers to waive CARCO inspections for the next four years, by a vote of 116-25. The bill was sent to the Senate, where it must pass the Insurance Committee and floor vote before being sent to the Governor. This is a major advancement in our campaign and it would not have not have been possible without the engagement of our agents, and the leadership of the bill's sponsor, Assemblyman Ken Zebrowski. With passage by the Assembly, we are increasingly optimistic about the prospects of this bill being passed and signed into law this session.…

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Photo Inspection Reform This Session? There’s Good Reason to be Optimistic

Recently, we shared the news that the Senate and Assembly removed photo inspection reform legislation from their “one house" budget proposals, meaning it is unlikely that our bill will be included in the final budget. However, this is not a death blow to the campaign and in fact, we are still in a strong position to pass the bill this session.​First, a quick refresher. In 2022, the Senate and Assembly both passed our bill to allow carriers to waive CARCO inspections. That bill was sent to the Governor, and in November of 2022, she vetoed it. Following the veto, we worked closely with her office and…

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