GLG News by Employee Benefits Experts

John David CoffeyPresidentDavid Coffey Agency, Inc.

Insurance Agencies With Benefits Make For Better Staff

October 22, 2007

Analysis of:Is an ESOP (Employee Stock Ownership Plan) right for an agency? | www.esopassociation.org

Staff will do all they can to ensure the growth and profitability of agency in which they have a vested, financial interest. Staff whom have such a benefit will stay longer as most competing agencies (meaning those competing for experienced insurance professionals) do not offer lucrative benefit packages due mainly to cost.

Richard BialekChief Executive Officer Bialek Group

Litigation Issues Cloud Visa IPO

September 17, 2007

Analysis of:Visa, preparing for IPO, wins OK from SEC | www.reuters.com

The Visa IPO is a noteworthy transaction that has the potential to reshape the payments industry. It offers Visa and its members the opportunity to unlock billions of dollars in value from the business they have built.  But, the potential return could be materially reduced by pending litigation.

Richard BialekChief Executive Officer Bialek Group

Western Union - Behind and Beyond the Boycott.

September 17, 2007

Analysis of:Immigrant groups launch Western Union boycott | www.latimes.com

Immigrant advocacy groups raise valid issues regarding Western Union. Significantly higher remittance fees  and an underinvestment in the immigrant community are the reasons for the boycott. Beyond the boycott advocacy groups should identify and promote remittance alternatives to Western Union, thereby adding a competitive market force to their efforts.

Richard BialekChief Executive Officer Bialek Group

Not a Prime Time to Tap the Sub-Prime Market

September 10, 2007

Analysis of:Credit card companies woo struggling mortgage-holders | www.boston.com

The sub-prime segment has been a profitable market for some credit card companies. Success depends on an issuer's ability to accurately assess credit risk and price accordingly. At this time mortgage defaults and increased uncertainty in credit markets and the general economy make risk more difficult to assess and the sub-prime market an unattractive target for credit card issuers.

Richard BialekChief Executive Officer Bialek Group

Good Medicine - If the Prescription is Followed

September 6, 2007

Analysis of:Doctors Offering No-Interest Loans to Patients | www.nytimes.com

What was a niche market served by small specialty financial services players is now led by three of the largest financial services companies in the U.S. No-interest medical financing is a growing market and a good option for the informed consumer. It serves a financing need, filling a gap left by higher medical insurance deductibles, increased insurance premiums and  a growing number of cosmetic surgery procedures that are not typically covered by medical insurance plans.

John David CoffeyPresidentDavid Coffey Agency, Inc.

Insurance agents must promote themselves, but their agencies too?

September 4, 2007

Analysis of:Firm Boosts Insurance Agency Web Sites on Google | www.insurancejournal.com

Is it enough to hand out business cards, go to network meetings, tell everyone you know you're "in insurance" and work sixty hours a week for a policy a day? Should an agency principal invest the money and use the latest technology to promote the agency without the exhausting and often fruitless "face to face"?

Richard BialekChief Executive Officer Bialek Group

The Rain is Coming - Don't Count on the Credit Storm Bypassing Credit Cards

August 30, 2007

Analysis of:Unexpected: Card Debt Stays Dry in Credit Storm | www.americanbanker.com

The hope that credit card delinquencies and default rates will not be impacted by the subprime mortgage crisis is misplaced.  Although risk indicators may be off all-time highs, they are increasing and merit attention. With decreasing home prices the highly levered U.S, consumer is losing access to home equity and mortgage refinancing products that enabled them to spend beyond their income. The risk is already in the credit card portfolios and will have to work its way out in the form of higher credit losses.

John David CoffeyPresidentDavid Coffey Agency, Inc.

Should an Insurance Agent/Agency be Fluent With the Latest Technologies?

August 7, 2007

Analysis of:Tech-Savvy Insurance Agents Providing Best in Class Services | www.prweb.com

Technology increases the agent/agencies exposure through a web site and by E-Marketing.With the right software, one staff person can do the work of three, or in the case of small agencies, no staff may be needed at all.

John David CoffeyPresidentDavid Coffey Agency, Inc.

What type of Professional Liability Insurance should an insurance agent have?

July 31, 2007

Analysis of:D&O vs E&O | www.insurepro.net

1. D&O policies cover the Director or Officer in virtually any arena where coverage for Errors and Omissions Policies are designed to cover the insurance agent to the extent that agent is involved in the practice of insurance.2. D&O Policy limits are typically far higher and again with more comprehensive coverages than E&O. This is a major difference between the two policies, truly realized unfortunately, when a suit is brought against the agent.3. D&O Policies, even with these differences, are much less expensive than E&O in most markets.

Bilyana SavicPresidentInsurance Insights

Creative Cost Containment for Healthcare Premiums

July 13, 2007

Analysis of:Insurer offers healthy bonus | www.denverpost.com

There are ways to control costs, reduce premiums and provide access to quality healthcare plans. Creativity in plan design and customization of plans are key areas insurers are exploring in order to meet the demands of current trends and to build and retain customer loyalty.

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