This post is part of a series sponsored by InsurBanc. When it comes to purchasing an insurance agency, onboarding the entire book of business is extremely important. Otherwise, the sale price may not reflect the agency’s true value to you. …
This post is part of a series sponsored by InsurBanc. Born between 1980 and 1994, millennials are now ages 29 to 43, making them prime candidates for agency ownership. And their younger peers, Gen Z (born 1995–2010), aren’t far behind. …
This post is part of a series sponsored by InsurBanc. The insurance industry has one of the economy’s lowest unemployment rates, at 1.6% as of April 2023 according to the Bureau of Labor Statistics (BLS). Within the industry, the BLS …
This post is part of a series sponsored by InsurBanc. Applying for an agency loan can be stalled by poor financial reporting practices. Here’s what lenders expect. I was recently reviewing a loan application from an independent insurance agency when …
This post is part of a series sponsored by InsurBanc. I reflected on a statement from a recent article on the impact of rising interest rates on agency merger and acquisition activity, particularly with private equity-backed brokers. I stated, “You …
This post is part of a series sponsored by InsurBanc. When we first addressed last year’s economic unrest, the Federal Reserve was just beginning to raise rates that had hovered just above zero. Today, the economy is still unpredictable, and …
This post is part of a series sponsored by InsurBanc. Producers who want to step up to agency ownership have an option they might not have considered: purchasing a book of business from the agency’s owner. The book of business …
This post is part of a series sponsored by InsurBanc. How many times have you sat down in a restaurant, stared at the menu for 10 or 15 minutes, and still had absolutely no idea what you wanted to order? …
This post is part of a series sponsored by InsurBanc. Not all financial fraud in today’s world is in the cybersecurity arena. Fraudsters are going old school and using a scheme known as “check washing.” What is check washing? Imagine …
This post is part of a series sponsored by InsurBanc. Buying an agency is one of the most meaningful and long-lasting financial decisions a young agent will make. We’ve all heard about first-time home buyers: Well, the process and the …
