Burand Blog | Burand & Associates

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Aug 4
2 min

Another Reason E&O Audits are Good for Your Agency

Reason #465: If something goes wrong, i.e., an E&O claim occurs, and depositions/testimony is required, what will you and your staff say?...

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Professional insurance agencies had better explain their value...

Chris Burand

Jul 30
5 min

Professional insurance agencies had better explain their value...

Or else better marketers will convince consumers they are more ethical than you. A recent story caught my attention and ire. The story wa...

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Distribution Consolidation and Agency Networks

Chris Burand

Jun 24
5 min

Distribution Consolidation and Agency Networks

Given the voluminous agency consolidation (sales to larger distributors) and aggregation (combining volumes in networks or clustering), ...

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What to do if your favorite carrier is sold to your least favorite carrier

Chris Burand

Jun 18
4 min

What to do if your favorite carrier is sold to your least favorite carrier

You walk into your office to read your email and find an over joyous message stating that your very favorite carrier is excited to announ...

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Chris Burand

Jun 10
3 min

Analytics are Improving Carrier Success

I encourage agency personnel to read SwissRe's 4-2019 Sigma white paper regarding how analytics are being used and the ROI for carriers....

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Chris Burand

May 20
5 min

Agency Financial Management

I perform many agency valuations each year. Virtually every new client who requests a valuation tells me they have good data. They advise...

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Chris Burand

Apr 30
3 min

E&O and COVID-19 Claims

While some law firms are laying off and partners are taking pay cuts, two kinds of law firms seem to be reviewing summer boat catalogues:...

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Chris Burand

Apr 2
5 min

Is your business plan based on luck?

Most insurance is sold poorly. That is not a judgment or an opinion. It is a provable fact and based on all the E&O audits I've completed...

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Chris Burand

Mar 26
5 min

Succession Leadership

If you are taking over leadership in an agency or brokerage, it is important to know and not be afraid of taking the following necessary ...

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Chris Burand

Mar 10
6 min

Carrier Financial Status and Statements

I study insurance carrier financials in detail all the time and have even built my own database. I consult with agents, brokers, networks...

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Chris Burand

Feb 20
3 min

What is an agency worth?

What is an agency worth if it cannot even figure out its own revenue? That may seem like a silly or even stupid question. After all, who ...

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Chris Burand

Nov 14, 2019
5 min

Is DIY worth it?

Over the last four weeks, I've had a series of interesting experiences involving larger and otherwise more sophisticated agency leaders f...

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Chris Burand

Nov 6, 2019
3 min

Being Conned

Who is most susceptible to being conned? Several studies, summarized in "The Confidence Game," make the point that people who are more op...

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Chris Burand

Mar 12, 2019
3 min

Knowledge by Folklore

Credit must go to Bill Wilson at InsuranceCommentary for this great line, "Knowledge by Folklore." These three words sum up, so perfectly...

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Chris Burand

Feb 20, 2019
4 min

Analysis Ignored, Misused, Crucial

I find the insurance industry's use of analytical data fascinating--and not always in a good way. Often the use and analysis is a complet...

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The Silent Battle Between Agencies and Companies

Chris Burand

Jan 16, 2019
5 min

The Silent Battle Between Agencies and Companies

P&C insurance companies are scared. Not all are scared, of course. Some are big enough, some are smart enough, and others are ignorant en...

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Different Rules for Different Companies and Distributors?

Chris Burand

Nov 8, 2018
5 min

Different Rules for Different Companies and Distributors?

Here is an interesting, maybe distressing, fact: Almost 100% of all health insurance carrier impairments between 2014-2016, inclusive, we...

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Have Insurance Companies Lost Track of their Purpose as Risk Transfer Agents?

Chris Burand

Sep 20, 2018
6 min

Have Insurance Companies Lost Track of their Purpose as Risk Transfer Agents?

Insurance is risk transfer. A consumer has a risk. They want to eliminate or minimize the financial impact if that risk is unfortunately ...

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Some Tips for Making Life Easier for Your Heirs

Chris Burand

Sep 14, 2018
3 min

Some Tips for Making Life Easier for Your Heirs

This is not an estate financial planning advice article. This is a practical advice article about the small stuff that eats up time. Ever...

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Chris Burand

Aug 31, 2018
3 min

Livin' in the Past

"...it's such a drag when you're livin' in the past" -- Tom Petty I was conducting an E&O audit and as is common, the owners, staff, prod...

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