Hi Friends,
I am fairly new to the business and one thing i never clearly understood is "WHY does a book of business have monetary value?
A book of business can disappear in a few months. (new agency can not have a good rapore with existing clients or blow it with existing book)
Can someone help me figure this out?
~Thanks
Source of insurance-forums.net
I am fairly new to the business and one thing i never clearly understood is "WHY does a book of business have monetary value?
A book of business can disappear in a few months. (new agency can not have a good rapore with existing clients or blow it with existing book)
- -what factors go into pricing a book?
- -a BOB is not tangible, its value can only be in the renewals and it so, what guarantee would the renewals actually be?
Can someone help me figure this out?
~Thanks
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