New England Insurance Agent Blog

Get ready for Massachusetts Equal Pay Law: July 1, 2018

Massachusetts agencies take note: Are you paying women the same salary that you pay men for comparable work? It's worth taking an inventory because on July 1, 2018, an updated equal pay law will go into effect in Massachusetts. The law covers employers of all size. Employers that are successfully sued for non-compliance face double damages and legal fees.

New Renaissance Alliance member benefit: Insurance Licensing Services of America

Managing insurance licensing and compliance is complex. You often don't know what you don't know and that leads to numerous compounding problems. To help our member agencies simplify the licensing process and ensure compliance, Renaissance Alliance has arranged with Insurance Licensing Services of America (ILSA) to offer their services at a members-only discounted rate.

How to honor veterans: Hire one!

Having trouble sourcing new hires for your agency? Think veterans! We're not speaking of veterans of the insurance industry, we're talking about military veterans. As we approach Veteran's Day weekend, it's something to consider. There's a huge labor pool, service members have developed valuable job experience and work values, and hiring a qualified vet might bring an additional benefit in the form of a financial incentive.

Expert advice: The importance of leadership in motivating your agency team

Agency principals wear many hats, but probably none are more important than that of leading the agency team: setting the vision and the goals, and inspiring people daily. Business leadership guru Ken Blanchard says "Great managers aren't born, they're trained." How often do you have a refresher course to hone and refresh your leadership skills? We offer two Ken Blanchard anecdotes highlighting the importance of your role as leader.

Are you among the 52% of agencies without a perpetuation plan?

As we approach tax season, that old Benjamin Franklin saying comes to mind: "In this world, nothing can be said to be certain, except death and taxes." Franklin identified two things we'd rather not think about. We are nudged into thinking about taxes every year, but we'd all prefer not to think about our own demise. And if the recent survey on agency perpetuation plans is to be credited, more than half of all agency owners avoid thinking about the possibility of their own demise because they do not have succession plans in place.
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