5 Unexpected Tasks When Registering as a Foreign Entity
When an insurance agency begins soliciting or transacting business outside its domicile state, it may need to register as a foreign entity with the Secretary of State’s Offices. It’s common for insurance professionals to be less familiar with this process, even compliance specialists may not be aware of some of the more “esoteric” tasks that certain states require.
5 Pro Tips for Compliance During M&A
Despite economic stresses, M&A activity remains a popular growth strategy for the insurance industry. However, overlooking regulatory compliance considerations in the planning and execution phases may lead to lengthy delays and unexpected costs. Here are five key tips to managing M&A compliance.
Top 30 insurance broker increases profitability with Premier Service
Stabilizing Small Business Insurance Servicing Through Targeted Capacity Support Small business insurance units play a critical role in agency profitability, yet they are often the most operationally fragile. High transaction volume, thin margins, and constant service demands make these units especially vulnerable to staffing shortages, turnover, and inconsistent processes. When account managers are overwhelmed with […]
The MGA Market Boom Fuels Channel Distribution Plans
A new ReSource Pro research report examines the channel distribution plans of MGAs in 2023, including their current partnerships, how they expect distribution to change in the next few years, and their strategies to expand various channel partners over the next few years.
Navigating the Insurance Talent Crisis for a Resilient Future
The insurance industry continues to find itself in a talent crisis. The workforce challenges we are facing are not entirely new. Some of them are the lasting impact of the pandemic, while others have come and gone over time as the result of a changing world.
Fatima Dean on the Evolution of Underwriting
Fatima Dean, Director of Client Development, wrote for Insurance Journal about how technology is impacting underwriting and how underwriters can adapt.
How Lean Process Mapping Can Benefit Insurance Organizations
Lean process mapping is a Lean management tool that involves breaking a process into step-by-step instructions and creating a flowchart to identify areas where work can be streamlined or eliminated. It enables businesses to boost quality, efficiency, and communication; ultimately improving customer experience.
Annual Returns: When and What to File
Once a business registers with the Secretary of State’s Office in a domicile or foreign jurisdiction, it needs to keep that information current.
It’s common for various business types to have different filing requirements and deadlines—even within the same jurisdiction.
Channel strategies and plans for MGAs
This research report examines MGAs’ current and future channel expansion plans, including how they expect distribution to change, the most common partnerships/affiliations they use today, their sentiment toward insurtech partnerships, and the types of channels MGAs plan to leverage in the next three years. The report concludes with ReSource Pro’s tips for MGAs aiming to […]
Governance: What, Why, and How
Governance is a critical part of any business, whether it’s a small startup or a global enterprise. A solid governance structure can have a range of benefits, from attracting investors to ensuring a business stays on course during a crisis, or even helping create strategies for continued growth and resilience.