Your insurance and how it profit by it.
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Your insurance and how it profit by it. by Levy, Michael H.

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Published by Harcourt, Brace in New York .
Written in English

Subjects:

  • Insurance.

Book details:

Edition Notes

StatementDrawings by Carl Rose.
Classifications
LC ClassificationsHG8051 .L48
The Physical Object
Pagination173 p.
Number of Pages173
ID Numbers
Open LibraryOL6174366M
LC Control Number55005319
OCLC/WorldCa892192

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Additional Physical Format: Online version: Levy, Michael H. Your insurance and how to profit by it. New York, Harcourt, Brace [] (OCoLC)   Not all books or agencies have this kind of profit. Usually profitability is in the 15 percent to 25 percent range today. If an agency rolls a book of business into an existing agency versus leaving it as a standalone firm, there is usually a much better chance of having this type of profitability.   Usually the sale price is a multiplier of the size of the book of business. A large office with multiple locations and a large client base might be worth times book value, a small book of business that's a one man shop might not even be worth times book value. Bookit does offer an option after you select your hotel to buy travel insurance from travel america which does include baggage loss, trip delay, hurricane, and medical. I booked my past trip to MX and my trip to PC this month with Bookit and haven't had any trouble at all.

My Net Book Value of the equipment is $10, but when the insurance company replaces the equipment, the equipment value is $25, What will be the entry for this situation? As far as I understand you just record the replacement cost value as owed to you by the insurer and then in this situation record a profit.   Insurance companies pay out bonuses that can be huge based on the number of policies agents bring into the business. As you grow your book of business and have renewals it becomes easier to a degree because those policies will bring you income until they cancel with you.   The insurance company has to collect the premiums from many and make sure they save enough of that money in liquid assets to be able to pay the claims of the few. The insurance company will take your premium and put it aside, letting it grow for every year you don't have a claim. If the insurance company collects more money then what they pay. When an area is underserved, more firms move into that area to stake a claim in the market. The idea of creating a niche to grow your book of business for insurance agents is certainly not a new idea. However, It is often heard from insurance agents wanting to find their niche market, but unsure of .

The measure of profit before interest and income tax is commonly called operating earnings or operating profit. It also goes by the name earnings before interest and tax, or EBIT. It is not called net income, because this term is reserved for the final bottom-line profit number of a business.   A gain from insurance proceeds should be recorded in a separate account if the amount is material, thereby clearly labeling the gain as being non-operational in nature. For example, the title of such an account could be "Gain from Insurance Claims." Though a gain is being recorded, the likely total outcome of an insurance claim is a net loss. Insurance companies are a business (duh) and they’re going to look out for their own interests first, not yours. They’re going to try and settle their customer’s claims for as little as they possibly can and they have a vested interest in doing so [profit]. ADVERTISEMENTS: Read this article to learn about the consequential loss or loss of profits, computation of claim, the amount of policy and entries in the book of accounts. When a fire occurs, it destroys not only the property of the firm such as buildings, machinery, stock, etc., but it also destroys, or at least seriously [ ].