Chicagoland SIA Blog

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Agency Management (2)

Seven ways to reduce your E&O risk

Facing an E&O insurance claim is a lot like an IRS audit. It’s something you really want to avoid. It’s time-consuming, unsettling and uncomfortable. In today’s litigious business environment, it’s a great time to review some of the most effective ways to reducing your E&O risk as well as provide a strong defense in the event a claim is made against you:

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Three qualities of successful leadership

Running an insurance agency is no small feat. If you ask the U.S. Small Business Administration, they’ll tell you that one-third of all new companies fail in the first two years. Half of all new businesses make it four years, and only 40 percent survive for six years or more. So how do businesses survive? And more importantly, how do they thrive? A recent study by Gallup found that a business’s ability to make it over the hump has much to do with leadership. Although there are numerous factors that influence success, Gallup found that the quality of an organization’s leadership has more to do with its longevity than any other factor. In its research, Gallup has found that companies that survive over the long term have leaders that share the following key characteristics:

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Avoid slips and falls at the office this winter

Did you know that slips and falls are two of the most common causes of injury during the winter months? Rain, ice and snow all can dramatically increase the likelihood that you or one of your employees will end up injured. One of the best ways to avoid a serious injury? Walk like a penguin. It’s easy. Simply spread your feet out a bit to increase your center of gravity and take small steps. Next time you are out on an icy sidewalk, try it. Here are some other suggestions to help prevent wintertime slips and falls:

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Looking to increase your productivity? Get moving!

Think you don’t have time to exercise? Think again! If you want to be more productive, whether at home or at work, then you may want to make time each day to exercise. Studies show that regular exercise can help boost productivity while a sedentary lifestyle can make people less productive in all areas of their lives. A Harvard study also linked regular exercise to a host of other benefits, including sharper memory, greater creativity and quicker learning!

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Bring out the best in all of your agency's employees

What do Bill Gates, Steven Spielberg, Warren Buffet and Mark Zuckerberg have in common? They are all successful introverts. It’s estimated that one-third to one-half of the world’s population is comprised of people you would describe as “reserved or shy.” Yet research shows that many leaders have difficulty effectively managing and leading more inner-oriented employees. Here are four ways to adapt your management style to bring out the best in your agency’s introverted employees:

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