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N a t i o n a l   L e g i s l a t i v e   C o n f e r e n c e
Help Push Our Agenda

With class action reform finally enacted, additional legal reform —including asbestos and medical malpractice—will be among the many issues discussed at the 29^th Annual Big “I” National Legislative Conference, scheduled for April 20 through 22 at the Grand Hyatt Hotel in Washington, D.C. Another issue expected to come up is extension of the Terrorism Risk Insurance Act (TRIA), recently reintroduced in the Senate. Additionally, with independent agents and brokers’ compensation system under assault in the wake of the investigations and lawsuits spearheaded by New York Attorney General Eliot Spitzer, it is crucial to make sure your elected representatives understand that a few bad actors are the problem, not the system itself. If you have not already registered for this important event, now is the time to do so. Don’t miss this important event. To register, click here.
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L e g a l   A d v o c a c y
What Does the Class Action Fairness Act Mean for You?

On Feb. 18, 2005, President Bush signed into law the Class Action Fairness Act of 2005 (“Act”), introducing sig­nificant changes to class action lawsuits. This sweep­ing federal legislation will affect the prosecution and defense of complex litigation across the country and attempts to equal the playing field for lawyers, businesses and consumers alike. How will the act affect your agency? Many feel that the insurance industry should particularly benefit in at least two ways. First,commercial property and casualty insurers, which often pick up the defense costs (and sometimes the settlement costs) when corporations are sued by plaintiffs' attorneys, may benefit from better underwriting margins due to lower costs or at least slowing loss cost inflation. Second, personal lines insurers may also benefit from class action reform because these companies are often targeted by the plaintiffs’ bar and may be less susceptible to such efforts. To read the Executive Summary of the Class Action Fairness Act of 2005, click here. | T O P|

B i g   " I "   M a r k e t s
BIM Introduces Agency of the Year Awards

Big “I” Markets is proud to introduce a contest that will recognize our top performing agencies, the Big “I” Markets Agency of the Year Awards. These awards will recognize and reward both frequent users of Big “I” Markets and users who write the most premium. Awards will be given in two categories: The Richard Petty Award (“Most Single Season Wins”) will go to the agency that has the most confirmed binders on Big “I” Markets for all of calendar year 2005. To be eligible to win, your agency must have a minimum of 10 submitted quote requests. The Babe Ruth Award (“Most Home Runs for a Single Team”) will be given to the agency that writes the most new premium on Big “I” Markets for calendar year 2005. There is no minimum number of quotes required to win in this category. The winner in each category will not only have bragging rights, but the agency principal will receive a $500 American Express gift certificate*. Big “I” Markets was created to give members access to markets with no appointment fees or hassles and no minimum premium requirements for niche and specialty markets. If an agency wants to use the system to help grow its client base by writing a  lot of new clients and using a high volume product like the Balboa Renters program to do so, we want to recognize and reward that effort. Conversely, if an agency can add significant dollars to its top line by writing a few high premium products like a community bank, we want to reward that, too. For more information about the Agency of the Year Awards, contact a Big “I” Markets team member at bigimarkets@iiaba.netor 800-221-7917.

* You must be a member in good standing of IIABA and a registered Big “I” Markets agent. Also, if there is a state insurance compensation statute or regulation that prohibits receipt of such a monetary award, we will donate the winnings to a charity designated by the winning agency.
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I I A B A   N e w s
Big “I” Aggressively Pursues Media Opportunities on Crucial Issues

The Big “I” has been making its voice heard in the news lately on many crucial issues, including the important producer compensation issue that continues to dominate insurance coverage in the media. On Feb. 16, CEO Bob Rusbuldt published a letter in the Columbus (Ohio) Dispatch in response to the newspaper’s Feb. 7 editorial, “Good Insurance.” The Dispatch editorialized that brokers should disclose their compensation agreements to their customers, and that contingent commissions could encourage the steering of business to carriers that pay “handsomely.” While citing Big “I” board policy in agreement with broker disclosure, Rusbuldt took issue with the remainder of the editorial and noted the value that independent insurance agents and brokers provide to their customers. Additionally, Big “I” Past President Cloyce Anders did an interview with CBS affiliate WRAL-TV (Raleigh, N.C.) Feb. 15 on the compensation issue that aired to an estimated viewing audience of nearly 80,000. The Big “I” will continue to position itself as the “go-to” association for industry and consumer media on this issue and will push aggressively to set the record straight on this issue of crucial importance to members’ livelihoods.
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I A   M A G A Z I N E
Renew Your Subscription Online

Want to ensure you’re up to date on all the latest industry news and trends, management information, specialty-lines access and government-affairs coverage? To improve the profitability and efficiency of your agency, renew your subscription to Independent Agent magazine. And the best part—it’s free! Take action now. Keep your IA magazine coming, delivered straight to your home or office each month. To validate your subscription online, go to IAmagazine.com and click on “Update Your Subscription.” Use the six-digit ID printed on your magazine mailing label and follow the directions. While you’re visiting IAmagazine.com, don’t forget to check out the Premier Insurance Directory (PID). PID is the ultimate monthly guide for insurance products and services, including specialty lines, and the information is searchable by category online. Direct IA subscription questions to Jill Cosgrove at 800-221-7917; jill.cosgrove@iiaba.net. 
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