THURSDAY, JUNE 17, 2010 

                                                Big “I” National News


Big “I” Government Affairs
Big “I” Joins Other Business Groups to Press Congress on Lapsed Flood Insurance Program
Letter to congressional leaders calls for immediate reauthorization.

The Big “I” continues to press Congress to reauthorize the National Flood Insurance Program (NFIP) and to pass a long-term extension of this critical program. This week the association joined forces with 21 other business groups in a pointed letter to Congress calling for immediate reauthorization of the program which was allowed to expire and has been lapsed since May 31, 2010.

More than two weeks into the 2010 hurricane season, which started on June 1 and scientists are forecasting will be very active, millions of homeowners and small businesses are in flood insurance limbo.  It is imperative that Congress extend this program in order to bring stability to consumers and the marketplace, and an extension is a top priority of the Big “I”.

To read the entire letter to congressional leaders, click here. 

InVEST
InVEST Awards Academic Scholarships
58 students from six states receive money to pursue insurance-related degrees. 

InVEST, the insurance industry’s premier classroom to career education program, awarded $56,500 in scholarships to 58 college-bound students pursuing insurance-related degrees.
 
“InVEST congratulates the 58 students representing 19 schools and from six states who earned scholarships this year,” says Patrick Moore, chair of the National InVEST Board of Directors and principal of Antalek & Moore, an independent agency in Beacon, N.Y. “Each year, InVEST develops future industry professionals by educating high school and community college students about insurance, risk management and financial services. Graduates from more than 150 InVEST programs across the country are armed with knowledge to help them pursue careers in an agency, company or other insurance industry organization.”
 
Along with direct contributions, scholarships are funded through proceeds generated by the InVEST Silent and Live auctions held in conjunction with the Independent Insurance Agents & Broker’s (Big “I”) Legislative Conference & Convention. This year, the Young Agents Committee (YAC) sponsored a successful casino night fundraiser, “YAC Gives Back: A Benefit for InVEST Scholarships,” in conjunction with the annual event. Collectively, “YAC Gives Back,” the auction and direct contributions raised more than $50,000. Auction items were donated by insurance carriers, agents and brokers, the Big “I” and its state affiliates and other industry organizations.
 
This year’s scholarship winners represent 19 schools and hail from California, Connecticut, Florida, New Hampshire, New York and Virginia. Click here for a complete list of winners.
 
This year, 146 scholarship hopefuls from across the country submitted essays describing the influence and benefits InVEST had on their educational plans. The quality of the essay, combined with the applicant’s grade-point average and extracurricular activities, were factors in selecting the recipients. Scholarship checks are mailed directly to the institute of higher learning that each student is attending and will be used exclusively for educational expenses.

Best Practices
2010 Best Practices Study—Don’t Pass Up the Opportunity
Just because 2009 was a tough year for your bottom line doesn’t mean you won’t qualify.

If you were nominated for the 2010 Best Practices Study but failed to submit your data because of lackluster year-end results, you might want to reconsider. 

“The soft market and bad economy played havoc in 2009 with most agencies’ revenue growth and profit margins,” said Shirley Lukens of Reagan Consulting, the Atlanta-based firm that conducts the annual study for the Big “I”. “As a result, many agencies that were nominated to participate in the study decided not to, fearing that they would not qualify because of their dreary results. Chances of qualifying as a Best Practices Agency are probably as good as ever since everyone has labored under the same conditions.  I would encourage those that did not submit their data to reconsider.  Even if an agency doesn’t make the cut, it still receives a complementary individualized Performance Analysis Report, a great tool to have when you are trying to quantify your performance compared to your peers.”

Reagan will accept late submissions until June 30.  For further information or assistance in obtaining the data collection file, contact Reagan Consulting at 404-233-5545 or e-mail bestpractices@reaganconsulting.com.  For more information on the available resources, including the 2009 Best Practices Study Update, click here.

Big “I” Markets
Big “I” Markets Introduces Pollution/Environmental Product
Partnership with recognized experts helps agents with complex risk choices.

Big “I” Markets recently announced a partnership with the American Risk Management Resources Network, LLC (ARMR.NET) to provide Big “I” members access to the environmental insurance market place plus world class subject matter expertise in environmental risk management.

ARMR.NET founder and president, David Dybdahl, CPCU, is a well-known industry expert, having insured environmental risks as intimidating as the containment operations of the Chernobyl nuclear disaster for the World Bank and as common as an underground fuel storage tank. Dybdahl and his 10 specialized brokerage staff have the experience to know the coverage needs of the customer and which insurance provider will likely be the best match for each risk.

“The need for environmental insurance is coming from increasingly varied organizations,” says Dybdahl. “As pioneers of environmental insurance, we spent the first 25 years of our careers working on a handful of the most contaminated properties in the United States. The risks were high and six to seven figure premiums were not uncommon. We would sometimes work for more than a year to place one policy. But today along with those risks we sell with one day turn around a contractor’s pollution liability policy at a $2,500 premium covering the local plumber or HVAC contractor.” 

Dybdahl and others have said that the need for environmental insurances on Main Street will only grow but working with environmental insurance can be challenging.

“The emerging risks of mold, contaminated drywall and lead safe work practices has increased our prospect base two hundred fold,” says Dybdahl.  “A dirty little secret few know is that environmental insurance policies are not standardized; it is possible to pay top dollar for a policy that basically does not work at all for one customer but that same policy may be the best available coverage for another. A doubling of the number of environmental insurance policies available in the market place over the past two years, combined with rapidly expanding exclusions in virtually all property and liability insurance policies for losses in any way associated with mold or bacteria, lead and contaminated drywall, has created the perfect storm for the insurance agent on Main Street. We help our retail insurance agents efficiently navigate this storm.”

For more information, log on to www.independentagent.com/bigimarkets.

Big “I” Education
Big “I” Presents Scholarships for ACSR Program
Five winners receive awards during the NAIW convention.

The Big "I" presented scholarships to five Big "I" and National Association of Insurance Women (NIAW) International members at the 69th annual NAIW convention in Arlington, Va. during the June 11 awards ceremony. The Accredited Customer Service Representative (ACSR) program is a national industry designation program training personal, commercial and life-health representatives. Developed by the Big "I" and AICPCU/IIA, this program provides intermediate level training in all aspects of agency operations, account development, E&O and technical insurance coverages. In order to meet the needs of today’s busy insurance professional, the program is available in select states online via the Big "I" Virtual University and classroom. NAIW is dedicated to the professional development of its members and the insurance and risk management industries through innovative educational programs and meetings offered at the local, state, regional and national levels. The scholarships enable recipients to take ACSR personal, commercial or life-health classes to earn their designation.

The 2010 scholarship winners are:

• Diane Vallely, Old National Insurance, Indiana
• Stefanie Parker, Brown & Brown of Florida, Inc., Florida
• Pyar Brazlie, Renasant Insurance, Inc., Mississippi
• Jose Reyes, Frontline Homeowners Insurance, Florida
• Margo Kyser, Wells Fargo, Indiana

For more information on the ACSR program, including curriculum, CISR and AAI waivers and more, click here or e-mail acsr@iiaba.net.


Agents Council for Technology (ACT)
Lloyd’s of London Joins Retail Agent E&S Initiative
Lloyd’s will present its data exchange initiatives during upcoming webinar.

The Retail Agent E&S Initiative (a collaboration of the Agents Council for Technology (ACT), the American Association of Managing General Agents (AAMGA), the National Association of Professional Surplus Lines Offices (NAPSLO) and the Association for Cooperative Operations Research and Development (ACORD)) announced that Lloyd’s of London has joined the group. 

Lloyd’s will be coordinating efforts to improve the efficiency of electronically transferring data from MGAs in the U.S. to the London market.

“North America is an important component of business for the London market and Lloyd’s is working on improving the electronic transaction of data on both binding and open market business, and thus believes it is important to be part of this joint industry group,” says Adam Stafford, senior project manager of Lloyd’s market operations.

The Retail Agent E&S Initiative also announced that it will sponsor a free webinar when Lloyd's will present its current proposals to standardize data collection from its MGAs in the U.S.

TITLE:
“Lloyd’s of London US Distribution Initiatives – Standards and Technology”
AUDIENCE:
GAs, wholesalers, retail agents, carriers & vendors participating in the E&S, program and broker markets
PARTICIPANTS:
Adam Stafford, Lloyd's of London 
Sarah Thacker, Lloyd’s of London
Mike Roy, CRC Insurance
Angelyn Treutel, Treutel Insurance Agency
John Deibler, JBD Consulting 
Jeff Yates, ACT
DATE: July 13, 2010
TIME: 11:00 a.m. – 12:00 p.m. EST
REGISTRATION: Click here
COST: Free

Through the initiative’s subgroups, retail agents, MGAs, wholesalers, carriers and vendors work together to foster methods to transfer data electronically and to standardize the supplemental applications used in the E&S industry. A third subgroup recently completed a report on moving general agents from using static websites to sites with real-time interface with retailers and now works to promote the group’s efforts and accomplishments. Visit www.independentagent.com/act and click on “E&S Program & Brokerage Market Efficiencies” for information on how to become involved in the initiative.

InVEST
InVEST Names New Board Member
Courtney Abraham from The Hanover brings human resources perspective to group.

InVEST, the insurance industry’s premier classroom to career education program, recently appointed Courtney Abraham, The Hanover Insurance Group assistant vice president of human resources, to its national board.

 “InVEST is pleased to announce Courtney Abraham has joined the already distinguished group of board members,” says Patrick Moore, CPCU, InVEST board chair and principal of Antalek & Moore, an independent agency located in Beacon, N.Y. “With more than 60% of the insurance industry’s employees over the age of 45, the need to find new talent becomes more apparent each year. We are excited to have Courtney and Hanover on board to bring us closer to achieving and implementing InVEST’s mission.”

Abraham brings a critical skill set and experience to the InVEST board. At The Hanover, she is responsible for the strategy and design of identifying and growing Hanover talent. Specific areas of strategic oversight include selection, assimilation, learning strategy and talent management systems including both early in career and leadership/executive development.

Prior to joining The Hanover, Abraham designed, developed and partnered for successful business impact as a strategy and change management consultant for numerous organizations, including Reuters, American Express, Pitney Bowes, Pfizer, WebMD, Maytag and GE. She earned a bachelor’s degree from Bowling Green State University and a master’s degree from DePaul University.

Trusted Choice®
Hill County Insurance Agency Named Trusted Choice® Agency of the Month
Agency recognized for commitment to the Pledge of Performance and brand excellence.

Hill County Insurance Agency, in Hillsboro, Texas, has been named the Trusted Choice® Agency of the Month by Trusted Choice®, the consumer branding program for independent insurance agents and brokers.

“We are proud to name the Hill County Insurance Agency as the Trusted Choice® Agency of the Month,” says Dave Evans, Trusted Choice® executive director. “The Hill County Insurance Agency exemplifies the Pledge of Performance and sets an extraordinary example of ‘Living the Brand’.”
 
Hill County Insurance Agency has been operating on the historic Hill County Courthouse Square for more than 90 years. For three generations, the Siddons family has been serving businesses and families across Texas. Will Siddons began working for the agency in 1918 and purchased the agency in 1921. Bill Siddons, Jr. joined the agency in 1956 and still serves as the agency’s president. In 1990, Bill Siddons, III, joined the agency and has been a strong community leader and active with his local and state association. Bill III was recently named citizen of the year by the Hillsboro Chamber of Commerce. The agency is also a member of the Combined Agents of America group.

“Our mission is to always exceed our customers’ expectations and the Trusted Choice® Pledge of Performance is our compass; We truly live the brand,” says Bill Siddons, III, Hill County Insurance Agency vice president. “The Trusted Choice® logo is on everything our clients see and touch. Serving as trusted advisors to our clients has been the key to our success for the past 98 years.”

The Trusted Choice® Agency of the Month program recognizes those Trusted Choice® agencies that are going above and beyond in living the tenets of the Trusted Choice® Pledge of Performance and in communicating the benefits of their services to consumers.