[On February 4, 2022], cannabis-related legislation passed the U.S. House of Representatives as part of the “America Creating Opportunities for Manufacturing, Pre-Eminence in Technology, and Economic Strength Act of 2022″ or the “America COMPETES Act of 2022.” The Big “I”-supported cannabis legislation, titled H.R. 1996, the “Secure and Fair Enforcement (SAFE) Banking Act,” was added to the broader legislation as an amendment the night before.
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PIIAC Bulletin
What Multiple Can I expect for my Agency?
It is no secret that merger and acquisition (M&A) activity in the independent agency space is at an all-time high. While it took a brief pause in the first quarter of 2020, it has been going strong through the end of 2020 and continues at a record pace in 2021.
READ MOREHiring Resources
Looking for new hires has become a major topic of discussion not only in the insurance industry but really everywhere. The service industry is the one we all probably notice the most – going out to dinner has been …. different! When it comes to hiring the right people, it goes without saying that it is much easier, cost-effective, and simply smoother to find and keep good help. What makes the retention of employees easier is making sure you have the right fit for the job.
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The Great Resignation: Turning Exodus into Opportunity
In the last two years, workers across the country have walked away from their jobs at an alarming rate. A record-setting 4 million people in the US quit their jobs in April 2021 as vaccination rates increased and employers called workers back into the office, according to a recent Forbes article. By November 2021, that number had risen to 4.5 million for the month.
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Top 6 Things to do when Buying an Agency
For many agencies, their growth strategy includes an acquisition component, and the current conditions in the insurance marketplace make growth by acquisition strategy very achievable. It is no secret that over half of the current agency owners are approaching retirement age. When you couple that with low-interest rates, the anticipated changes in taxes, and the presence of private equity driving the multiples for agencies up, for many agency owners there may never be a better time to sell their agency.
READ MORETrusted Choice Disaster Relief Fund donates to the Marshall fire relief efforts in Colorado
Denver, CO: The Trusted Choice Disaster Relief Fund donated $5,000 to support the victims of the Marshall Fire that destroyed 1,000 in Colorado on December 27, 2021. The funds were distributed to community members who lost their homes because of the fire.
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