American Association of Insurance Management Consultants

Library of Articles

Akos Swierkiewicz

Principal
Insurance & Reinsurance Consulting & Outsourcing Services (“IRCOS, LLC”)

Akos Swierkiewicz

Principal
Insurance & Reinsurance Consulting & Outsourcing Services (“IRCOS, LLC”)

The advantages and disadvantages of joining an Agency Network…and the issues to be considered in selecting a suitable Agency Network.

I do not truly understand the rationale in suing the company adjuster in a lawsuit against the Insurance Company, since he has no independent duties apart from those of the Insurance Company. However, Directors and Officers of corporations owe fiduciary duties to corporate stockholders and to the Corporate business entity itself.

Bruce Heffner

Corporate Counsel / Attorney at Law
Boomerang Recoveries, LLC, Inmedex, LLC & Law Office of Bruce P. Heffner,

Insurance Companies need to strive for competent officers and directors.

Bruce Heffner

Corporate Counsel / Attorney at Law
Boomerang Recoveries, LLC, Inmedex, LLC & Law Office of Bruce P. Heffner,

A hair-weaving certificate requires 300 hours of training. An individual selling reinsurance needs zero education and faces zero testing.

Bruce Heffner

Corporate Counsel / Attorney at Law
Boomerang Recoveries, LLC, Inmedex, LLC & Law Office of Bruce P. Heffner,

As insurance professionals, we are often so busy serving our clients that our writing and publishing take a back seat to our practice. Consistent publication keeps us in the public eye and allows us to rank higher on Google.

Nancy Germond

President
Insurance Writer, LLC

For many small to mid-sized companies there is the overriding element of misplaced trust in the broker and a gross misunderstanding of their own duties.

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I have not figured out why reinsurance is not fully regulated, as is insurance. I have heard the logic that the parties to the contract are equally sophisticated, and therefor no regulation is necessary. The problem with that logic is that it assumes a premise that is false. Many of the parties do not have equal bargaining power; they are not equally qualified to enter into the transaction and there are no real arms length negotiations. Many small companies spend more on reinsurance each year then they could possibly receive from the sale of the building they occupy.

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