In this episode of The Power Producers Podcast, David Carothers and guest host, Todd Thams sit down with Kevin Ring. Kevin talks about the common challenges agency and business owners are facing with misclassification.
Episode Highlights:
- Kevin explains that most businesses are misclassified. (3:29)
- Kevin talks about the four distinct types of operations. (8:37)
- Kevin tells us about the common questions he gets regarding furniture store classification codes. (12:08)
- Kevin shares his view that the older generation has been better at training people compared to today’s generation. (19:55)
- Kevin shares a story that illustrates the importance of both agents and clients understanding how businesses are classified.. (24:05)
- Kevin shares manuals that can be found in the NCCI mini library. (29:35)
Tweetable Quotes:
- “I think it illustrates the importance of not only you the agent understanding how a business is classified, but also your client understanding how they are classified and how important it is.” – Kevin Ring
- “We all agree that we want to speak our client’s language as much as possible and not spit a whole bunch of insurance words at them.” – Kevin Ring
- “If you have accounts in multiple states, you cannot make the mistake of assuming everything’s the same everywhere, because that’ll bite you for sure.” – Kevin Ring
Resources Mentioned: