T H U R S D A Y ,  S E P T E M B E R  3  ,  2 0 0 9 
                                                     
                                                     Industry News

Education
ACSR Designation Program Offers Flexibility and Customization

The Accredited Customer Service Representative (ACSR) program is a national designation program developed by the Big “I” and enhanced by a partnership with AICPCU/IIA --- recognized leaders in insurance training. The program is designed to support the professional development of insurance service staff and benefits customer service representatives, agents, employers and insurance companies. ACSRs gain increased product knowledge, improved selling and account rounding skills and higher levels of professionalism and customer service. Agencies and companies also benefit through increased customer retention, reduced errors & omissions exposures and a lower turnover of high-quality staff. On the forefront of insurance education, the ACSR program offers three flexible study options (classroom, self-study and online) and customization of a personal learning path with designations in personal lines, commercial lines and life/health. ACSR also offers the National ACSR of the Year competition to recognize superior customer service. Agents and agency/company owners seeking information should contact their state association or click here to learn more about the curriculum and the National ACSR of the Year program.

Big “I” Markets
Expanding the Universe for Performance Bonds

Many software and technology clients know they can bring innovative solutions and savings to federal, state and local government agencies. But governments require bonds on their contracts, and software and technology companies are usually told that surety companies do not write bonds for this type of work. Contracts with government agencies are often the single largest source of revenue for these clients.

In the last five to eight years, more and more government contracts have been awarded for this technology work. State legislatures and members of Congress who control spending decisions have generally become more comfortable with new software and technology, and government agencies are developing the trust and sophistication to better manage these purchases.

This has opened all sorts of new opportunities for software and technology companies in the U.S., as well as new opportunities for members through Big "I" Markets and its partner, Goldleaf Surety Services.

Geoff Hathaway, president of Goldleaf, says that software and technology companies – and the retail agents and brokers who serve their insurance needs – should not be told that these clients can’t get bonds.

"The underwriting considerations are quite different for these industries," he admits. "And the surety markets are few.” For example, the broker handling the bond request needs to get a detailed understanding of the project, verify the company's performance history on similar projects and thoroughly review all the contract documents. Hathaway adds that these performance bonds can be written and, once they are, the benefits to all parties are significant.

Coupling its vast knowledge of software and technology products with more than a decade of experience placing bonds for technology companies, Goldleaf can help agents get software and technology clients the bonds they need to work on government contracts.

For more information, log on to www.bigimarkets.com or e-mail bigimarkets@iiaba.net and an underwriter will contact you.


Big “I” Markets
Guard Against Tragedy with RLI PUP

Tragedies happen every day and no one can predict when one will occur. Consider these real life scenarios:

• In Louisiana, an insured's teenage son was driving his younger sister and her friend to the movies. He lost control of the vehicle, left the road and hit a telephone pole. The friend permanently lost the use of her right arm and suffered severe brain injuries resulting in permanent brain damage. The claim was settled for $1.35 million.

• A 41-year-old periodontist suffered injuries to his face and fingers following a head-on automobile accident. A California jury assessed the defendant damages of $576,000.

• Two friends were on a hunting trip in the Connecticut woods when the defendant's gun accidentally discharged. The victim was struck in the eye by a pellet. In an out-of-court settlement, the defendant agreed to pay damages of $192,000.

Agents can help clients prepare for the unexpected by making sure they are protected from potential liability by having a personal umbrella policy. Remember that you have access to the RLI Personal Umbrella policy through the Big “I.” RLI is an A+ rated carrier that writes stand-alone umbrellas. To find out how to access this product, contact the administrator in your state or visit www.independentagent.com/rli for more information and to download an application.


IA Magazine
Don’t Miss the September Issue

As kids across the country head back to school for reading, writing and arithmetic, you too can get educated on the latest industry news, trends and tips with the September issue of Independent Agent. This month’s issue is crammed with need-to-know information, including: Recession-Proof Retention, a guide to retaining your customers and saving them money during the tough economy; Fight the Credit Crunch, a look at how the credit crunch is impacting agencies’ ability to gain credit; The Life Insurance Link, an explanation of how the life insurance environment is changing as a result of higher income and estate taxes ; The New Mix, which spotlights an upstart agency that combined marketing and technology to find success; and much more. Visit IAmagazine.com for more information.


Big “I” Flood Program
New Selective Incentive Program is Underway

Selective, the National Flood Insurance partner for the Big “I” Flood program, has a new incentive program underway. During the contest period of Aug. 10 – Nov. 6, agents will be rewarded, in addition to standard commission, with $10 for each new standard flood policy issued through Flood Online® or Big “I” Markets, and $15 for each new preferred risk flood policy issued through Flood Online® or Big “I” Markets. Big “I” Markets production can only be counted if system procedures are followed by the agent doing the binder request. The NFIP flood program does not allow agents to issue binders, but in the Big “I” Markets system, the flood binder request alerts Selective’s underwriter that the signed application and premium payment are being mailed. Then the system allows the underwriter to select “binder confirmed” when the policy is issued, thus closing out the quote allowing the policy to be counted in the incentive program. Click here for full details. Learn more about the Big “I” Flood Program at www.iiaba.net/Flood, or contact Linda Mackey at linda.mackey@iiaba.net.


Virtual University
Be Prepared When Disaster Strikes

With wildfires raging in the West and hurricanes threatening the East coast, preparing for the worst is on the minds of agents and insureds alike. September has been designated National Preparedness Month by FEMA and the U.S. Department of Homeland Security, and the Big “I” has joined forces with this campaign as a National Preparedness Month 2009 coalition member. Agents can help their customers prepare for the worst by providing them with a host of planning resources available at www.ready.gov. In addition, click here to access more resources such as a webinar and a calendar detailing the campaign’s goals and available materials.

The Big “I” Virtual University also has several resources to help with disaster planning, including an emergency preparedness guide for homes and families. Click here to access the full VU Web site on emergency preparedness.

Contact Linda Mackey at linda.mackey@iiaba.net for more information on disaster preparedness.


Big “I” Professional Liability
Big “I” and Swiss Re Host Free Webinar on Swine Flu E&O Risks

On Sept.16, at 2 p.m. EST, Swiss Re and the Big “I” Professional Liability program will present a free risk management webinar about the potential errors & omissions risks a widespread swine flu pandemic may have on agencies and their business. The call will discuss important developments in the swine flu pandemic; how this could affect your business; and ways to protect your agency. This is the latest webinar in the risk management knowledge series designed to bring Big “I” members valuable and practical information to identify, manage and mitigate their potential exposure to E&O claims. Click here to register for the webinar.