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T H U R S D A Y , J A N U A R Y 2 9 , 2 0 0 9 Industry News
Young Agents
Apply for a YAC Scholarship
During the 2009 Big "I" Legislative Conference & Convention, April 29-May 1 at the Marriott Wardman Park Hotel in Washington, D.C., the National Young Agents Committee (YAC) will host seminars geared specifically toward Young Agents. Events include a first-timers reception, the Young Agent Attendee & InsurPac Chairs Luncheon, hospitality events and the Presidents’ Panel Breakfast with Big "I" leadership.
The YAC is offering each state association two $500 scholarships to assist Young Agents who have not previously attended a Legislative Conference & Convention. Scholarship funds will be paid to the order of the state association in May. Interested Young Agents should return a completed application form to their state association by March 13to be considered for a scholarship. Scholarship recipients will be determined at the discretion of the state association.
The $1,000 Maurice Herndon Scholarship will be presented to one Young Agent who has not attended a Legislative Conference & Convention in the past. The Young Agent recipient will receive his or her scholarship check in May after the Big "I" Legislative Conference & Convention. To be eligible for the Herndon scholarship, you must be a Young Agent member of the Big "I" who has not previously attended a Big "I" Legislative Conference, compose a 250 to 500-word essay describing why you should be considered for the scholarship and submit your essay and completed application form by March 13.
Click here to download the $500 Scholarship and Herndon Scholarship applications. For more information, contact Katie Cosgrove at 800-221-7917; Katie.Cosgrove@iiaba.net.
Legislative Conference & Convention
Top Insurance CEOs to Address Big “I” Legislative Conference & Convention
The Big “I” has announced the insurance carrier CEO panel for the annual Legislative Conference & Convention. The all-star carrier panel is slated to include the top executives from The Hartford, Liberty Mutual, Progress and State Auto. Panelists include: Ramani Ayer, chairman and CEO, The Hartford; Ted Kelly, chairman, president and CEO, Liberty Mutual; Glenn Renwick, president and CEO, Progressive; and Bob Restrepo, chairman and CEO, State Auto. Robert Rusbuldt, president & CEO of the Big “I”, will moderate the discussion which will be held at 3 p.m. EST, May 1.
The insurance carrier CEO panel, which will take place in a general session, will allow the Big “I” membership to hear and participate in a discussion of some of the most important issues pressing independent insurance agents and the industry including: the state of our national economy, the economic challenges facing insurance carriers and the industry, the property-casualty insurance cycle, the TARP program, insurance regulatory reform and other challenges and opportunities facing the independent agency system. The session will also include a state of the association address by Big “I” chairman Brett Nilsson and a speech by Freakonomics author Stephen Dubner.
For registration and hotel information, go to www.independentagent.com and select the “Events and Conferences” link.
Big “I” Markets
24-Hour Restaurant Market Now Available
Big “I” Markets and ProHost USA are pleased to present Big “I” member agents with a new package product for 24-hour restaurants.
Twenty-four-hour restaurants are often an excluded class for restaurant carriers. Now you have a product written on A+ paper that offers restaurant enhancements as well as liquor liability coverage. Twenty-four-hour restaurants usually generate higher sales and may average $3 million in annual revenues. Consequently, the average package premium is higher than a typical casual family dining restaurant. Twenty-four-hour diners and pancake and waffle houses like IHOP are eligible restaurants and you now have the product to write these risks. And there’s more…now you can also write fast casual and other counter service restaurants. With a minimum package premium of $3,500, this program targets restaurant concepts where customers order at a counter and then either eat-in or carryout. Examples of restaurants that fit this program are Asian takeout, delis, donut shops, sub shops and restaurants like Panera Bread or Chipotle. Note that restaurants with drive-through windows are not eligible. Coverage options for all ProHost programs vary by state. Submission requirements include ACORD applications, the ProHost supplemental application, loss runs and a food and beverage menu (or the restaurant’s Web site if available). Step one - request a quote in the Big “I” Markets restaurant programs section and a ProHost underwriter will contact you. In the current economic climate, casual dining is one segment of the restaurant market that is growing. Now you have the product to target and write this business 24-7. Be sure to visit the “restaurant program” page on at www.bigimarkets.com to learn more about the other classes you have access to: fine dining, family style, and bar & tavern. Not yet registered for Big “I” Markets, the online market access program available exclusively to Big “I” members? Complete your free registration today at www.bigimarkets.com.
Big “I” Markets
Nobody Home? BIM Has You Covered
A recent survey conducted by Trusted Choice® found that 54% of homeowners thought their current policies would cover them if they suddenly had to put their home up for sale during the period of time between when they vacated and when the sale was finalized. Those homeowners are mistaken. The types of losses that are more likely to occur when homes are unoccupied are typically excluded by most homeowner policies (i.e. vandalism and plumbing leaks), not to mention that most policies will exclude damage to the property if the named insured no longer resides in the residence. Kyle Beherns of All Suburban Insurance Services in Barrington, Ill. can attest to the risk management exposures an insured faces when a previously occupied home becomes vacant. Barrington is an upscale community in the northwest suburbs of Chicago. “Due to changes in the homeowner market, we are seeing an increasing amount of vacant homes,” Beherns says. “We needed a market and one of our producers was surfing the net and found the vacant homeowner product on the Big “I” Web site. So we registered for Big “I” Markets and took advantage of the vacant homeowner product. It was the first time we ever used Big ‘I’ Markets, everything went well and we have several other vacant homes we need to place.” As the economic outlook remains uncertain, be on the lookout for clients who for whatever reason may be displaced from their home and need a homeowner product tailored to address that vacancy. Then log onto www.bigimarkets.com and submit your quote request.
Big I AdvantageSM
Big “I” Members Save on FedEx
Hundreds of Big “I” members are already saving on shipping with the new Big “I” FedEx discount. Are you leaving easy expense savings on the table?
Big “I” members can now save:
• Up to 26% on select FedEx Express® U.S. services
• Up to 20% on select FedEx Express international® services
• Up to 12% on select FedEx Ground® services
• Up to 10% on select FedEx Home Delivery® services Click here and enter pass code ZFT3SF to start saving now. If you have additional questions, please call 1-800-MEMBERS (8 a.m. – 6 p.m. EST, Monday to Friday) to speak to a dedicated member representative.
Within seven to 10 business days of your enrollment, you should receive a welcome kit from FedEx which contains detailed information about your shipping rates. Once you have enrolled in the FedEx savings program, your discounts will automatically be applied to your FedEx account number and you can enjoy these great savings every time you ship.
FedEx shipping discounts are off standard list rates and cannot be combined with other offers or discounts. Shipping discounts are exclusive of any FedEx surcharges, premiums or special handling fees and are not available to package consolidators. Eligibility for discounts is subject to FedEx credit approval. Eligible services are subject to change. Base discounts on FedEx Express® are 15-21%. An additional 5% discount is available for eligible FedEx Express shipments when you ship online at fedex.com. Discounts are subject to change.
Big I AdvantageSM
Big “I” Members Save with Caliper
Did you know that Big "I" Members receive exclusive discount pricing on the premier personality testing product in the industry? Let Caliper tell you what you need to know before you hire. Or, Caliper can work with you to maximize the performances of and relationships among your existing employees. A test and comprehensive consultation is just $245.
For more than 30 years, Caliper has helped Big “I” members match people’s goals to business goals. Caliper is able to maximize your ability to achieve business results by delivering initiatives that help you to select, manage and develop people and understand the gaps between where you are versus where you want to be. Their proven approach has helped more than 25,000 companies worldwide define the skills, competencies and strategies necessary for achieving corporate goals and objectives. Caliper’s solutions include selection management, performance management, team building, employee development and people retention.
For more information about Caliper, visit www.caliperonline.com, call 609-524-1200 and identify yourself as a Big “I” member or send an e-mail to info@calipercorp.com.
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