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Insurance Agency Accounting for Dummies and Geniuses

Total Credits: 3 including 2 Accounting - Technical, 1 Specialized Knowledge - Technical

Average Rating:
Accounting and Auditing |  ACPEN Industry Institute
Virginia M. Bates |  Samuel T. Bennett, CIC, AFIS, CRIS, CPIA​
Course Levels:
3 Hours
Access for 30 day(s) after program date.




This Course defines the most commonly used terminology related to accounting issues. It explains that primary setup decisions that an agency/brokerage management team must make in creating or revamping its reporting systems. It also discusses options in aggregating necessary financial information via workflows in the organization and covers reconciliation issues with carriers and surplus brokers. The course also covers common valuation methodologies to determine the equity value of an agency or brokerage.

Basic Course Information

Learning Objectives
  • Understand and be able to define the most common agency/brokerage accounting and financial reporting terms
  • Determine methodologies to aggregate accounting detail in those organization and use the basic financial reports available to agencies and brokerages
  • Understand and differentiate the two primary methods of agency/brokerage valuation techniques

Major Subjects
  • Terminology
  • Financial Reporting Methodologies
  • Agency/Brokerage staff organization and workflows to capture financial detail
  • Financial Reports and their usage
  • Agency/Valuation methodologies and formulas

Course Materials


Samuel T. Bennett, CIC, AFIS, CRIS, CPIA​ Related seminars and products: 1

Sam Bennett is an active retail producer, presenter, and shareholder in Harrison Agency, Inc. of Columbia, MO.  He began his insurance career in 1987 and has been an Independent Insurance Agent from the beginning.   He has worked with individuals, families, and small businesses his entire career.  In this capacity, he has worked in the personal lines, commercial lines, agribusiness and life and health marketplaces.  As a result of working with many types of clients, many carriers, and many coverage needs, Sam has grown to understand and appreciate the important ways an insurance professional must work with markets and clients in today’s insurance world.

Sam obtained his Certified Insurance Counselor (CIC) designation in 1996. He has taught coursework for the National Alliance in their CISR program since 2000, has presented in their CIC program since 2004, and in 2009 became a National Faculty Member of the Society of CIC.  Sam is also a National Faculty Member in the Agribusiness and Farm Insurance Specialist (AFIS) program and is a speaker in the AIMS Society’s Certified Professional Insurance Agent (CPIA) program and IRMI’s Construction Risk Insurance Specialist (CRIS) program.  He has been called upon to offer insurance education in conferences and symposiums across the country over the past twenty years and has provided services to several law firms in the capacity of expert consultant. 


Tue, Oct 06, 2020 - 10:00am to 12:59pm CDT
Fri, Oct 16, 2020 - 01:00pm to 03:59pm CDT
Tue, Nov 03, 2020 - 10:00am to 12:59pm CST
Fri, Nov 20, 2020 - 01:00pm to 03:59pm CST
Tue, Dec 01, 2020 - 10:00am to 12:59pm CST
Fri, Dec 18, 2020 - 01:00pm to 03:59pm CST

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For All
Original Recording Date 12/05/2018
Yellow Book No
Course Developer Executive Education, Inc.
Date Added to Catalog 12/04/2018

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints., (972-377-8199).
Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Instructional Delivery Method Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.

Promo Video



Overall:      4.5

Total Reviews: 26


Gretchen O

"Love that there are these specialized accounting classes. There are definitely differences in specific industries. "

Maggie J

"This was a great, informative class! Thank you for your expertise! "

James R

"Great commentary beyond what was on the slides. Great examples, etc."

Lindora S - Westland, Michigan

"I would be interested in other courses on the same topic of agency business beyond accounting such as innovations, technologies, communications processes, company ratings pro and cons for largest competitors in the industry, automations, trends past vs future, reporting examples, topic of commercial lines/property and casualty vs personal, etc."

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