Total Credits: 3 including 3 CE Credit
This Course defines the most commonly used terminology related to accounting issues. It explains that primary setup decisions that an agency/brokerage management team must make in creating or revamping its reporting systems. It also discusses options in aggregating necessary financial information via workflows in the organization and covers reconciliation issues with carriers and surplus brokers. The course also covers common valuation methodologies to determine the equity value of an agency or brokerage
Understand and be able to define the most common agency/brokerage accounting and financial reporting terms.
Determine methodologies to aggregate accounting detail in those organization and use the basic financial reports available to agencies and brokerages.
Understand and differentiate the two primary methods of agency/brokerage valuation techniques.
|Please Read - Important CE Instructions and State Required Forms (0.59 MB)||Available after Purchase|
|Course_Slides (0.18 MB)||Available after Purchase|
|Course Outline (0.06 MB)||Available after Purchase|
VIRGINIA M. BATES has over twenty years of experience consulting to agencies and carriers and managing insurance operations for both a carrier and a large regional agency. She has a background in all property and casualty lines, experience as director of a country-wide underwriting school and direct involvement in many automated systems. As co-founder of VMB Associates Inc., she has worked with many agencies on valuations and related issues, intelligent selection and use of technology, profitability, reducing E&O exposure, internal operations, marketing strategies, carrier relationships and successful use of technology. She speaks often on the evolving exposures and preventive strategies related to automation and electronic processing and documentation. She has conducted E&O audits and rehabilitation projects for agencies at the request of E&O carriers such as Fireman's Fund. She developed and produces the Vendor Comparison Workshops that have helped thousands of agencies determine their automation needs and options.
She is a certified E&O instructor and regularly creates and conducts educational programs for many state agents' associations, carriers and vendor groups. These programs encompass both technical subjects (such as personal and commercial risk management, direct and indirect property coverages, advanced workers comp coverages and rating, and umbrella coverages) and management subjects (such as E&O prevention, business planning, disaster recovery, profitable use of automation and procedures manual creation and implementation).
Virginia is the founder and Technical Executive of www.VMBhits.com. This is a testing website with which agency and carrier administrators can test the specific coverage skills, system usage abilities, E&O safety understanding, bookkeeping acumen, and educational needs of current employees and candidates for hire. The site includes tests in just about every P&C coverage line and Benefits lines.
Virginia's educational background includes an honors degree from Swarthmore College and graduate work in management science. She is a licensed broker and licensed insurance adviser.
SOME SAMPLE REVIEW COMMENTS & CLIENT COMMENTS (from classes and consulting work):
"Her positive attitude is always inspirational. Her knowledge of material is always enlightening.
The industry should be proud to have her." "The Best!"
“I love to have you in our office. Everything seems possible at the end of the day!”
“I went to a class just to get continuing ed credits and you reminded me why I went into this business in the first place - to sell and to help people. Thanks for making it fun again.”
“Thank you for treating us like a diamond-level client. We know you always care.”
Sam Bennett is an active retail producer, presenter, and shareholder in Harrison Agency, Inc. of Columbia, MO. He began his insurance career in 1987 and has been an Independent Insurance Agent from the beginning. He has worked with individuals, families, and small businesses his entire career. In this capacity, he has worked in the personal lines, commercial lines, agribusiness and life and health marketplaces. As a result of working with many types of clients, many carriers, and many coverage needs, Sam has grown to understand and appreciate the important ways an insurance professional must work with markets and clients in today’s insurance world.
Sam obtained his Certified Insurance Counselor (CIC) designation in 1996. He has taught coursework for the National Alliance in their CISR program since 2000, has presented in their CIC program since 2004, and in 2009 became a National Faculty Member of the Society of CIC. Sam is also a National Faculty Member in the Agribusiness and Farm Insurance Specialist (AFIS) program and is a speaker in the AIMS Society’s Certified Professional Insurance Agent (CPIA) program and IRMI’s Construction Risk Insurance Specialist (CRIS) program. He has been called upon to offer insurance education in conferences and symposiums across the country over the past twenty years and has provided services to several law firms in the capacity of expert consultant.
Mon, Jul 26, 2021 - 09:00am to 11:58am CDT
Mon, Aug 23, 2021 - 01:00pm to 03:58pm CDT
Mon, Sep 13, 2021 - 09:00am to 11:58am CDT
Mon, Oct 25, 2021 - 01:00pm to 03:58pm CDT
Mon, Nov 29, 2021 - 09:00am to 11:58am CST
Mon, Dec 27, 2021 - 01:00pm to 03:58pm CST
TN - This course has been approved for 3 hrs CE - Course#31366
VA - This course has been approved for 3 hrs CE - Course# 219409 - , 3 OGI CE credits
MI - This course has been approved for 3 hrs CE - Course#76846
KS - This course has been approved for 3 hrs CE - Course# 6000040422
NJ - This course has been approved for 3 hrs CE - Course#88901206
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