Managing an Agency in a Troubled Economy: Smart Cash Management Pays Off

A recent Insurance Journal survey found that insurance agencies are reducing fixed costs and unnecessary spending. According to Bob Pettinicchi, executive vice president and senior lending officer for InsurBanc, one of the ways for agencies to reduce costs is to review relationships with banks. Similarly, Pettinicchi warns agencies against becoming a bank for their insureds.

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User Comments

  1. G Ratcliffe

    January 28, 2009 at 12:24 pm

    The end of the video provides the best advice an agency can follow when it comes to extending credit. Don’t become a bank to your clients in difficult financial times. Remember all the problems agencies had with receivables back in the early 90’s and head the advice. Well said!

  2. P T B

    February 10, 2009 at 1:59 am

    “Watch Your Banking Expenses” should be the title of this promotion of Insur Bank. What are the “value” services that Insur Bank offers to agencies? This video is not very helpful due to lack of specifics.

  3. JDW

    February 16, 2009 at 2:11 pm

    Potentially interesting points, but in the end, little more than an advertisement.

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