“Don’t ‘ready, fire, aim.'”
That was one of the tips from Matthew Davis, Swiss Re Corporate Solutions claims manager, when he served as a panelist during the recent Big “I” Agency Risk Management Essentials webinar, Navigating the Hazards of Buying, Selling and Merging an Agency.
During the session, a panel of industry leaders navigated attendees through many of the tax implications, due-diligence activities, and errors & omissions exposures that need to be considered before buying, selling or merging an agency.
The panelists made so many excellent points during the discussion that the Big “I” Swiss Re Risk Management team collected a few of their favorites in a one-page Things to Know document, which contains more than 20 items insurance agents should consider, as well as whether the tip pertains to a buyer, seller or merger.