News
Deadlines
Newsletter – Wednesday, April 15, 2009
April 15th looms ahead of me - which do I fear more - the IRS, or my sister who faithfully holds my feet to the fire until this letter gets written? Apparently, I have found a way to satisfy both and live to write another letter.
All of us have to deal with deadlines in one form or another. Of course there is April 15th, which has come to stand for ‘Tax Day’ (mark my words, greeting card companies will find a way to turn it into a card-giving event). There are missed deadlines like when Teri and I started our home remodeling project. I wanted it to be finished in 5 months and it took well over a year. There are also the predictable ‘moving deadlines’ such as our current project to rewrite our management system’s interface. Life and business don’t always like to cooperate, so dates slip by and we are often ‘almost finished’. Deadlines are necessary because they keep us focused and help us to set priorities. As for me, I want everything done yesterday unless I have to make a decision on it, then tomorrow will be better!
Tuscano underwriters live by the target date on your submission! That is how our R2U service promises are kept. Now that we are consistently hitting our mark for a 48-hour or less first action on your new business, you have come to count on our commitment to remarkable service and to meet your deadlines. We understand that you know that how fast you get our quote in the insured’s hands speaks volumes about your ability to provide excellent customer service. We are in the business to make you look good and that is why getting new business quoted is our highest priority.
The year is shaping up well despite the negative reports coming from most sectors of the insurance marketplace. I am very pleased to report that we have just signed on with a major carrier to write monoline workers compensation. We have just gotten our underwriting authority set up with Swiss Re and we will be their only wholesaler for this workers comp product. This is a breakthrough development for us because comp markets have been lean and mean in the past few years (in other words we get more declinations from our carriers than we get quotes).
Some of you may recognize this program from years past, but effective April 1, 2009, the carrier has re-filed their product with a very competitive loss cost factor. While they are not going to start out of the gate looking for difficult classes like truckers and roofers, they will look at restaurants, excavators, carpenters, and janitorial services. This program targets risks with an experience mod up to 1.5 and premiums under $75,000.
The last report I read indicates that SWIF writes over $300 million in premium, pays zero commission, and still manages to pay out more in losses than they collect in premium. We will be paying a flat commission of 5% on our policies, which are direct-billed to boot. The way I see it, if we can reduce the amount of business you write in SWIF, it just might reduce our PA income taxes! Got a few accounts lying around? Give Marilyn Elias or Ann Miller a call, they will be happy to help.
Remember! Think Tuscano for spring products like landscapers and loggers, motorcycles and tanning salons. Tuscano CAN do it!
Oops, time’s up and I gotta run!
All of us have to deal with deadlines in one form or another. Of course there is April 15th, which has come to stand for ‘Tax Day’ (mark my words, greeting card companies will find a way to turn it into a card-giving event). There are missed deadlines like when Teri and I started our home remodeling project. I wanted it to be finished in 5 months and it took well over a year. There are also the predictable ‘moving deadlines’ such as our current project to rewrite our management system’s interface. Life and business don’t always like to cooperate, so dates slip by and we are often ‘almost finished’. Deadlines are necessary because they keep us focused and help us to set priorities. As for me, I want everything done yesterday unless I have to make a decision on it, then tomorrow will be better!
Tuscano underwriters live by the target date on your submission! That is how our R2U service promises are kept. Now that we are consistently hitting our mark for a 48-hour or less first action on your new business, you have come to count on our commitment to remarkable service and to meet your deadlines. We understand that you know that how fast you get our quote in the insured’s hands speaks volumes about your ability to provide excellent customer service. We are in the business to make you look good and that is why getting new business quoted is our highest priority.
The year is shaping up well despite the negative reports coming from most sectors of the insurance marketplace. I am very pleased to report that we have just signed on with a major carrier to write monoline workers compensation. We have just gotten our underwriting authority set up with Swiss Re and we will be their only wholesaler for this workers comp product. This is a breakthrough development for us because comp markets have been lean and mean in the past few years (in other words we get more declinations from our carriers than we get quotes).
Some of you may recognize this program from years past, but effective April 1, 2009, the carrier has re-filed their product with a very competitive loss cost factor. While they are not going to start out of the gate looking for difficult classes like truckers and roofers, they will look at restaurants, excavators, carpenters, and janitorial services. This program targets risks with an experience mod up to 1.5 and premiums under $75,000.
The last report I read indicates that SWIF writes over $300 million in premium, pays zero commission, and still manages to pay out more in losses than they collect in premium. We will be paying a flat commission of 5% on our policies, which are direct-billed to boot. The way I see it, if we can reduce the amount of business you write in SWIF, it just might reduce our PA income taxes! Got a few accounts lying around? Give Marilyn Elias or Ann Miller a call, they will be happy to help.
Remember! Think Tuscano for spring products like landscapers and loggers, motorcycles and tanning salons. Tuscano CAN do it!
Oops, time’s up and I gotta run!