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What 19 Years in Insurance has taught me


oldye
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"It only takes minutes to recruit a financial whiz kid to preside over an insurance company; but it will take at least 5 to 10 years to get back to a positive balance sheet once you get rid of him."

 

"Learn how to fire a client; and be willing to do it."

"No matter what I know, there is always someone who knows more. "

"Sustained bad underwriting will lose you all your best Reinsurer friends."

 

http://www.insurancejournal.com/news/national/2009/07/08/102039.htm

 

 

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Very interesting. Thanks.

 

Here is some other quotes found in the article and the "comments" section.

 

The graveyard is full of irreplaceable people (producers, underwriters, consultants, etc.)

 

Insurance is a business, not a charity.

 

Past history is not always a good measure of what is to come

 

Deal only with clients that are ethical, it will save you a lot of grief and the others are not worth the time.

 

The client is always right, at least as long as they are a client, but know when to cut the cord!!

 

Top Line for vanity bottom line for sanity (note: underlining is mine)

 

"Paper Free in [insert year ending in 3 here]"

 

One for the newbies: Underwriting is a trade where ignorance is actually a short-term asset.

 

I've never seen 3rd-party 'consultant' recommendations make a company better. EVER.

 

When you are absolutely certain; read the form.

 

 

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