Independent
Insurance Agents of Iowa
SUMMER 2017 • VOLUME 35 • ISSUE 3 INDEPENDENT INSURANCE AGENTS OF IOWA
AAA Minnesota/Iowa
Columbia Insurance Group
Great American Insurance Group
IN THIS ISSUE: • Changes, Challenges And Transitions A Look Forward • IIAI Annual Planning • What Can Be Better Than Summer Time In Iowa? • 2016 Iowa Property & Casualty Insurance Market Place Report • Big “I” Goes To Washington • 2017 IIAI Agent/Company Meeting Report • Young Agents Conference • Iowa Insurance Hall of Fame • IIAI 2017 Scholarship Winners • Independent Insurance Agent - My First-Hand Experience
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PRESIDENT’S REPORT Changes, Challenges and Transitions A Look Forward
Independent Insurance Agents of Iowa 4000 Westown Parkway West Des Moines, Iowa 50266 (515) 223-6060 • FAX (515) 222-0610 800-272-9312 (In-State only)
Advertising Editors Melissa Meiners & Nicole Peffers
BOARD OF DIRECTORS President Eldon Hunsicker - Ottumwa
President-Elect Terry Friedman, CPCU - Dubuque
Treasurer Tim English, CIC - Dyersville
National Director Terry McDonald, CIC - Iowa City
Directors
John Dalton - Council Bluffs Steve Madsen - Marshalltown David Rowley, CPCU, CIC, AU - Spirit Lake Scott Wirtz - Emmetsburg Luke Horak - Washington Lottie Miller, CPCU, CIC, AAI, CISR, CPIW, AAM, CRIS - Cedar Rapids Chris Gentry - Ollie Dave Walters - Audubon
Past President
With a very effective association leadership team and a strong, well-defined mission in place, I have no doubt that we will be able to implement a strategic plan that will effectively address most issues facing our association. Eldon Hunsicker Page 5
NATIONAL DIRECTOR’S REPORT What Can Be Better Than Summer Time In Iowa? Long days, fests of everything imaginable like sweetcorn fests, jazz fests, art fests, county fairs, along with farmers markets and little league baseball and softball. It just does not get any better than this. Terry McDonald, CIC Page 11
CHIEF OPERATING OFFICER Independent Insurance Agent - My First-Hand Experience I understood when I took this position with the Big “I” that I would need to switch my insurance coverage to an independent insurance agent. I assumed it was more a matter of protocol than anything never thinking I would have a need for the services of my independent agent other than servicing the policy. Tom O’Meara Page 40
In This Issue IIAI Annual Planning
Jerry Mease - Winterset
Page 8
IIAI OFFICE STAFF
2016 Iowa Property & Casualty Insurance Market Place Report
Chief Executive Officer Bob Skow, CPCU, CAE bob@iiaiowa.org • Ext. 13
Page 13
Insurance Hall Of Fame
ADVERTISERS We would like to thank our advertisers for their support. This magazine would not be possible without them. THANK YOU! 23 AMERISAFE 34 Berkshire Hathaway 43 Big “I” Professional Liability
Chief Operating Officer
Page 22
31 Burns & Wilcox
Tom O’Meara tom.omeara@iiaiowa.org • Ext. 18
Big “I” Goes To Washington
10 Donegal Insurance Group
Page 24
42 Errors and Omissions
Director of Membership Operations & Education Melissa Meiners melissa@iiaiowa.org • Ext. 15
Technology & Communications Coordinator Nicole Peffers nicole@iiaiowa.org • Ext. 17
Office & Education Assistant Cindy Grim cindy@iiaiowa.org • Ext. 12
Membership Services Coordinator Marilyn Paul, CPCU, AIT, AAM, CPIW marilyn@iiaiowa.org • Ext. 11
Membership Services Coordinator Brenda Kluger, CIC, CISR, CIIP, CRM brenda@iiaiowa.org • Ext. 14
Membership Services Coordinator Megan Kincy, AINS, AIS megan@iiaiowa.org • Ext. 16
2017 IIAI Agent/Company Meeting Report Page 28 AAA Minnesota/Iowa Page 32 Columbia Insurance Group Page 35 Great American Insurance Group
IIAI 2017 Scholarship Winners Page 39
7 EMC Insurance Co. 4 Grinnell Mutual 42 IFC Insurance Finance Co. 2 The IMT Group 34 Merchants Bonding Co. 12 M.J. Kelly Company 34 Partners Mutual Insurance 6 Pekin Insurance 37 SECURA Insurance Co.
2017 IIAI Young Agents Conference
12 UIG
Page 41
26 Western National
38 West Bend
MISSION STATEMENT: The Independent Insurance Agents of Iowa will be an unrelenting advocate of the business, professional and p olitical interests of its members; doing so by working in the p ublic’s best interest and with the highest e thical standards. Viewpoint is a publication of the Independent Insurance Agents of Iowa. Viewpoint is published quarterly: Winter, Spring, Summer and Fall. Viewpoint is mailed to Iowa insurance agents, Iowa Home Office Executives, Affiliate members, and other state associations and organizations.
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president’s REPORT
Changes, Challenges and Transitions A Look Forward Independent by Eldon Hunsicker
Insurance Agents of Iowa
PRESIDENT’S REPORT As I began thinking about what to discuss with you in my fourth and final article as the President of your association, it became very apparent that this discussion should be about the future of our association and industry. But first, I need to report that the current state of your association is strong on so many fronts. 1. Outstanding executive leadership 2. Very professional and efficient staff 3. One of the fundamentally strongest state insurance associations in the country 4. Very active membership participation 5. National industry leader 6. Recognized strong relationship with State and Federal elected officials 7. Great reputation as a trade association That being said, we are finishing a very challenging, but exciting year, for our state association. This has been a very busy year with the transition of leadership for the IIAI in full progress. Tom O’Meara has been very busy learning and adapting to the many challenges of running this association. Bob Skow makes this process look so very easy. But, as Tom has learned, there are many intricate and demanding facets to running an association like ours. Much is expected and is invested in the process
of making this association run like a “well-oiled machine”. Much credit for the successful operation of the association goes, not only to Bob Skow, but to the staff of very dedicated employees who truly take a personal interest, as well as a professional interest, in seeing that we have one of the best state associations in the entire IIABA network.
As the leadership of the IIAI transitions, our focus changes from leadership transitions to a strategic look at the future, in order for us to be best positioned to deal with the many challenges facing our industry. To that end, your Board of Directors will be devoting specific time at our Summer Board Meeting to developing a strategic plan focused on the many challenges we face and their impact on our association and how we best address those post leadership transitions. The list of issues for review includes, but is not limited to, many of the obvious ones that we have discussed in previous articles such as the changing political environment and its impact on crop insurance, flood insurance and health insurance; as well as, federal regulation of insurance, agent-company relations, reduced commissions and direct writer competition. There is no shortage of issues that will define the future landscape. But with a very effective association leadership team and a strong, well-defined mission in place, I have no doubt that we will be able to implement a strategic plan that will effectively address most issues facing our association. My year as your President has passed quickly. It has been an extreme honor to serve this association. Over these many years, I have had the pleasure to work with many incredible people. That includes executive leadership,
SUMMER 2017 |
|5
staff, board members, and very active members. The amount of time and talent these dedicated folks give to this association is immeasurable. Because of these people, and others like them that will follow, I am very comfortable in saying the future of this association looks very bright. I would be remiss if I didn’t make special mention of the fact that Bob Skow will be leaving his position as CEO in early 2018. Bob’s contribution to this association is incalculable. He truly gives his “all” to the association and we have all benefited from that. I truly believe that we would not be where we are today without his tremendous efforts on behalf of the association. Bob and I have not only worked together through the activities of this association, we worked for many years with swimming programs that our daughters participated in. It just so happens that we each have two
daughters who are the same ages. These girls swam against each other through the club programs and high school but also swam together on U.S. Swimming regional teams. Bob and I served, as many parents do, as officials for swimming at many levels from local clubs, high school, regionals and U.S. open qualifying. Our families got to be pretty good friends during those times. His professionalism was just as intense in swimming support as it is in
this association. Interestingly enough, his tenure as CEO with the association and my eleven year commitment to the board of this association will both end in 2018. It has been a pleasure working with him and calling him a friend. We owe him a big debt of gratitude. As the year comes to a conclusion, I want to thank you for the privilege that you granted me to serve this association as President.
Sometimes things are just clearly
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6|
| SUMMER 2017
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IIAI Annual
MAY 28, 2017} { PLANNING
E
ach year IIAI’s seven standing committees get together for a day to brainstorm, discuss, and recommend everything from political positions, technical coverage issues to programs and speakers. The committees are: Agency Management/Technology; Company & Public Relations (Trusted ChoiceŽ); Education; Governmental Affairs & IIAI PAC; Rural Agents/Small Town Agency; Technical & Industry Affairs; and Young Agents. The
committees are key to our planning for the new fiscal year which begins each September 1st. The committee reports are reviewed by your board of directors and incorporated into our perennial goals and long range strategic plan. A special thanks to the over 100 agents who participate to help the Independent Insurance Agents of Iowa better serve its members. Pictures on this page are some of the committees who help lead your association.
{AGENCY MANAGEMENT/ TECHNOLOGY}
{TECHNICAL & INDUSTRY AFFAIRS}
8|
| SUMMER 2017
{RURAL AGENTS/SMALL TOWN AGENCY}
{EDUCATION}
{COMPANY & PUBLIC RELATIONS} Trusted Choice®
{GOVERNMENTAL AFFAIRS} SUMMER 2017 |
|9
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national director’s REPORT
What Can Be Better Than Summer Time in Iowa? Independent by Terry McDonald, CIC
Insurance Agents of Iowa
NATIONAL TRUSTED CHOICE® BIG “I” CHAMPIONSHIP – AUGUST 7-10, 2017 I often wonder what can be better than summer time in Iowa. Long days, fests of everything imaginable like sweetcorn fests, jazz fests, art fests, county fairs, along with farmers markets and little league baseball and softball. It just does not get any better than this. Unless you are hosting the Trusted Choice® Big “I” State Qualifying Golf Tournament for Iowa youth ages 13-18. This is my real treat for the summer. Tim English, Dustin Smith, Tom Richardson and I have been in charge of hosting the Iowa state qualifier for several years. However, this tournament would not be possible without the sponsorship of EMC Insurance Company (please thank your EMC rep next time they stop by your office). After Iowa Mutual sponsored this tournament for a few years, I contacted Derek Bleil from EMC and he did not hesitate to take this project on. Additionally I would like thank Iowa Jr. PGA, Riverside Resort and Blue Top Golf Course for all of their help as well. This is a challenging event but very rewarding for all those associated with making sure the event runs smoothly. It truly does take time and dedication from many volunteers.
The 2017 event was no different. We hosted the Iowa national qualifier for the 7th straight year at Riverside Resort in Riverside, Iowa. The tournament was held on June 20th this year, drawing over 100 youth golfers. Top golfers from all over the state of Iowa competed to earn a spot in the national tournament. The Iowa Big “I” qualified up to 3 boys and 1 girl to this prestigious event. An event that Tiger Woods once ruled at the age of 14. The National Trusted Choice® Big “I” Championship will be held at Annandale Golf Club in Madison, Mississippi from August 7-10, 2017. The qualifiers will be paired with a host family to provide shelter and some meals. Our state association allows up to $500 for travel costs for the winners of boys and girls divisions. This event draws college coaches for
the local tournament as well as the national tournament. I have walked the course with coaches from Iowa State, Iowa, Drake, UNI and of course some local colleges as well. In closing, I will say it is very important we encourage our youth to stay involved in something like golf. Golf is one of the few activities that the participant can engage in long after their athletic ability has been in the rear view mirror. With the rise of social media increase in popularity, this activity demands the full attention of the golfer. And that to me is a real breath of fresh air. If you would like to learn more about the opportunity of getting involved with this event or sending some local talent our way, please do not hesitate to call me. You can reach me at tmcdonald@awwelt.com or by phone at 319-887-3786.
SUMMER 2017 |
| 11
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2016 Iowa Property & Casualty Insurance Market Place Report by Bob Skow, CPCU, CAE
I
n 2016 Independent Agents market share in Iowa went up again! At a time when some carriers are looking at marketing insurance through other channels – in Iowa, Independent Agent rule. The 2016 Best* data reveals that market share for the direct marketers dropped from 30.1% to 28.6%. A significant shift with National Independent Agents companies gaining most of the market shift. This changes the trend for the past number of years in Iowa where regional independent agent companies were the gainers in market share movement. Iowa independent agents continued their domination of commercial lines for example close to a 10% shift in workers’ compensation premiums moved to independent agent channels. Another item worth noting was the huge improvement of loss ratio from 2015 to 2016. The top 20 Iowa carriers experienced a 46.78% improvement in their loss ratio! All carriers combined went from 86.7% to a 51.9% adjusted loss ratio. 2016 was a good year to write property & casualty business in Iowa. We think a significant amount of information can be gleaned from this data. A review of a specific carrier or a line of business reveals a great amount of information, for example, who is gaining business, who is losing, what are the loss ratios and where are independent agents most competitive? We hope you find this information helpful. *A.M. Best provides all the data for this report.
2016 EDITION
IOWA OVERALL STATE RANKING (ALL P/C LINES)
(Direct Writers Highlighted)
2016 2015 2016 2015 2016 2015 Rank Market Market Direct Written Direct Written Adjusted Adjusted 2016 Name 2015 Share Share Difference Premiums (000) Premiums (000) Difference Loss Ratio Loss Ratio Difference 1 State Farm Group
1
10.30% 10.00% 0.30%
$638,776
$599,204
$39,572.00
52.4
71
-18.6
2 Nationwide/Allied 2 8.10% 8.10% 0.00% $498,509 $488,679 $9,830.00 53 73.1 -20.1 3 Farm Bureau
3
P&C Group 6.00% 6.00% 0.00% $371,698 $358,796 $12,902.00 36.4 91.9 -55.5 4 ACE INA Group
5
4.50%
3.50% 1.00%
$278,686
$213,249
$65,437.00
18.8
197.8
-179
5 Progressive Group 4 4.30% 4.30% 0.00% $268,691 $258,644 $10,047.00 60.7 65.3 -4.6 6 Zurich
22 3.30% 1.40% 1.90% $206,630 $213,249 $(6,619.00) 94.8 197.8 -103
7 EMC Ins Cos
6
3.30%
3.40% -0.10%
$206,276
$202,282
$3,994.00
56.5
65.9
-9.4
8 Travelers Group 7 3.10% 3.10% 0.00% $189,597 $184,236 $5,361.00 58.6 64 -5.4 9 American Family
9
Insurance Group 3.10% 3.00% 0.10% $188,638 $180,366 $8,272.00 46.4 63.3 -16.9 10 Farmers Mutual
8
Hail Insurance Grp
2.70%
3.10% -0.40%
$168,034
$183,600
$(15,566.00) 41
11 Grinnell Mutual Grp 11
2.20%
2.20% 0.00%
$137,104
$130,850
$6,254.00
12 Great American
45.2
171.6 48
-130.6 -2.8
14
P&C Group 2.10% 2.10% 0.00% $132,806 $127,877 $4,929.00 56.8 181.2 -124.4 13 Auto-Owners
13
Insurance Group 2.10% 2.10% 0.00% $131,933 $128,019 $3,914.00 34.6 62.4 -27.8 14 American Intl
15
Group Inc 2.10% 2.10% 0.00% $131,885 $125,988 $5,897.00 64.2 72.1 -7.9 15 QBE Americas Grp 10 16 Liberty Mutual
2.10%
2.50% -0.40%
$129,302
$147,533
$(18,231.00) 44.7
203.7
-159
12
Insurance Cos 2.00% 2.20% -0.20% $124,913 $130,144 $(5,231.00) 59.3 74.6 -15.3 17 West Bend Mut Ins
16
2.00%
2.00% 0.00%
$123,366
$118,502
$4,864.00
42.8
49
-6.2
18 IMT Insurance Cos
18
1.90%
1.90% 0.00%
$120,533
$112,274
$8,259.00
42.2
60.8
-18.6
19 Old Republic
20
1.60%
1.60% 0.00%
$101,477
$93,206
$8,271.00
53.1
62.3
-9.2
20 United Fire & Cas
19
1.60%
1.60% 0.00%
$99,949
$97,790
$2,159.00
46.3
67.6
-21.3
Top 20 Totals
68.40% 66.20% 2.20%
$4,248,803
$4,094,488
$154,315.00
50.39
97.17
-46.78
All Carriers State Totals
100%
$6,183,412
$6,012,399
$171,013.00
51.9
86.7
–34.8
100%
NOTE: While this information was obtained from sources believed to be reliable, its accuracy is not guaranteed. Data for some companies in this report has been received from the NAIC.
14 |
| SUMMER 2017
2016 EDITION
IOWA REGIONAL INDEPENDENT AGENCY COMPANIES Name
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 Nationwide/Allied
$498,509
8.10% 8.10% 0.00%
53
73.1
2 Progressive Group
$268,691
4.30%
4.30%
0.00%
60.7
65.3
3 EMC Insurance Companies
$206,276
3.30%
3.40%
-0.10%
56.5
4 Farmers Mutual Hail Ins Group
$168,034
2.70%
3.10%
-0.40%
41
5 Grinnell Mutual
$137,104
2.20%
2.20%
0.00%
45.2
48
6 Auto-Owners Insurance Group
$131,933
2.10%
2.10%
0.00%
34.6
62.4
7 West Bend Mut Ins
$123,366
2.00%
2.00%
0.00%
42.8
49
8 IMT Insurance Cos
$120,533
1.90%
1.90%
0.00%
42.2
60.8
-18.6
9 United Fire & Casualty Group
$99,949
1.60%
1.60%
0.00%
46.3
67.6
-21.3
10 Endurance Spec Group
$65,442
1.10%
1.10%
0.00%
99.5
175.3
-75.8
Top 10 Totals
$1,819,837
29.30% 29.80%
-0.50%
52.18
83.90
-31.72
All Carriers State Total
$2,483,516
40.20% 40.70% -0.50%
62.5
80.2
-17.7
Direct Writers 28.6%
Regional Agency Companies 40.2%
-20.1 -4.6
65.9
-9.4
171.6
-130.6 -2.8 -27.8 -6.2
2016 STATE MARKET SHARE REGIONAL AGENCY COMPANIES NATIONAL AGENCY COMPANIES DIRECT WRITERS
National Agency Companies 31.2%
IOWA NATIONAL INDEPENDENT AGENCY COMPANIES Name
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 ACE INA Group
$278,686
4.50%
3.50%
1.00%
18.8
197.8
2 Zurich Fin. Serv. NA
$206,630
3.30%
1.40%
1.90%
94.8
87.9
3 Travelers Group
$189,597
3.10%
3.10%
0.00%
58.6
64
4 Great American P&C Group
$132,806
2.10%
2.10%
0.00%
56.8
181.2
5 American Intl Group Inc
$131,885
2.10%
2.10%
0.00%
64.2
72.1
6 QBE Americas Group
$129,302
2.10%
2.50% -0.40%
44.7
203.7
7 Liberty Mutual Ins Cos
$124,913
2.00%
2.20% -0.20%
59.3
74.6
-15.3
8 Old Republic General Group
$101,477
1.60%
1.60%
0.00%
53.1
62.3
-9.2
9 Cincinnati Insurance
$86,275
1.40%
1.50% -0.10%
39.5
65.2
-25.7
10 W.R. Berkley Ins Grp
$58,832
1.00%
1.00%
0.00%
48.1
39.8
8.3
Top 10 Totals
$1,440,403
2.32%
2.10%
0.22%
53.79
104.86
-51.07
All Carriers State Total
$1,929,465
31.20% 29.20%
2.00%
87.42
74.69
12.73
SUMMER 2017 |
-179 6.9 -5.4 -124.4 -7.9 -159
| 15
2016 EDITION
IOWA DIRECT WRITERS Name
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 State Farm Group
$638,776
10.30%
10.00%
0.30%
52.4
71
-18.6
2 Farm Bureau Mutual Group
$371,698
6.00%
6.00%
0.00%
36.4
91.9
-55.5
3 American Family Insurance Group $188,638
3.10%
3.00%
0.10%
46.4
63.3
-16.9
4 Berkshire Hathaway
$84,695
1.40%
1.30%
0.10%
65.6
69.5
-3.9
5 Allstate Insurance Group
$78,207
1.30%
1.10%
0.20%
54.9
65.9
-11
6 Farmers Insurance Group
$69,835
1.10%
1.10%
0.00%
52.5
67.7
-15.2
7 USAA Group
$43,867
0.70%
0.70%
0.00%
70.2
83.8
-13.6
8 Federated Mutual Group
$32,913
0.50%
0.60% -0.10%
50.8
69.6
-18.8
9 FM Global
$30,695
0.50%
0.50%
0.00%
8.3
29.8
-21.5
10 Shelter Ins Cos
$23,080
0.40%
0.40%
0.00%
59.6
68.3
-8.7
Top 10 Totals
$1,562,404
25.30% 24.70%
0.60%
49.71
68.08
-18.37
All Carriers State Total
$1,770,432
28.60% 30.10% -1.50%
49.01
90.19
-41.18
IOWA PRIVATE PASSENGER AUTO PHYSICAL DAMAGE
(DIRECT WRITERS HIGHLIGHTED)
Name
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 State Farm Group
$177,213
22.30%
22.20%
0.10%
59.5
75
-15.5
2 Progressive Group
$108,248
13.60%
13.80% -0.20%
61.2
74
-12.8
3 Nationwide/Allied
$87,160
11.00%
11.10% -0.10%
58.2
70.8
-12.6
4 Farm Bureau P&C Group
$60,677
7.60%
7.90% -0.30%
56.4
63.5
-7.1
5 American Family Insurance Group $49,285
6.20%
6.50% -0.30%
51.9
57.9
-6
6 Grinnell Mutual Group
$35,730
4.50%
4.50%
0.00%
61.2
66.3
-5.1
7 IMT Insurance Company Mutual
$29,241
3.70%
3.60%
0.10%
57.5
64.9
-7.4
8 Allstate Insurance Group
$29,156
3.70%
3.30%
0.40%
60.3
64.8
-4.5
9 Berkshire Hathaway
$25,040
3.20%
3.00%
0.20%
77.8
94.3
-16.5
10 Auto-Owners Insurance Group
$16,823
2.10%
2.20% -0.10%
55.1
66.3
-11.2
Total from top 10 writers
$618,573
(Avg.)
(Avg.)
69.78
-9.87
State Total For All Carriers Combined
$794,093
58.9
63.5
-4.6
Independent Agents 50.1%
16 |
Direct Writers 49.9%
2016 IOWA PRIVATE PASSENGER AUTO MARKET DIRECT WRITERS
| SUMMER 2017
77.90% 78.10% -0.20%
INDEPENDENT AGENTS
59.91
2016 EDITION
IOWA OTHER PRIVATE PASSENGER AUTO (LIABILITY)
(DIRECT WRITERS HIGHLIGHTED)
Name
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 State Farm Group
$168,892
22.00% 21.20%
0.80%
61.2
59.8
1.4
2 Progressive Group
$132,173
17.20% 17.60%
-0.40%
58.8
59.7
-0.9
3 Nationwide/Allied
$85,875
11.20% 11.50% -0.30%
11.4
71
59.6
4 American Family Insurance Group $50,006
6.50%
6.50%
0.00%
61.7
61.5
0.2
5 Farm Bureau Mutual Group
$49,866
6.50%
6.60%
-0.10%
57.2
60.7
-3.5
6 Grinnell Mutual Group
$28,890
3.80%
3.90%
-0.10%
51.4
42
9.4
7 Berkshire Hathaway
$27,386
3.60%
3.50%
0.10%
59.6
56.4
3.2
8 Allstate Insurance Group
$24,280
3.20%
2.80%
0.40%
78.7
71.9
6.8
9 IMT Insurance Company Mutual
$23,037
3.00%
3.00%
0.00%
51.7
54.2
-2.5
10 Farmers Insurance Group
$17,719
2.30%
2.20%
0.10%
66.6
60.9
5.7
Total from top 10 writers
$608,124
79.30% 78.80%
0.50%
(Avg.)
(Avg.)
58.67
3.12
State Total For All Carriers Combined
$768,218
62.5
59.6
2.9
2016 IOWA OTHER PRIVATE PASSENGER AUTO MARKET DIRECT WRITERS
INDEPENDENT AGENTS
61.79
Direct Writers 48.9%
Independent Agents 51.1%
IOWA HOMEOWNERS MULTI-PERIL
(DIRECT WRITERS HIGHLIGHTED)
Name
2016 Direct Written Premiums (000)
2016 2015 2016 2015 Market Market Adjusted Adjusted Share Share Difference Loss Ratio Loss Ratio Difference
1 State Farm Group
$196,237
26.80% 26.70%
2 Nationwide/Allied
$103,690
14.20% 14.50% -0.30%
3 Farm Bureau Mutual Group
0.10%
35.4
73
-37.6
38.4
93.5
-55.1
$67,072
9.20%
8.80%
0.40%
30.6
90.1
-59.5
4 American Family Insurance Group $60,026
8.20%
8.10%
0.10%
27.5
71.4
-43.9
5 IMT Insurance Company Mutual
$25,625
3.50%
3.40%
0.10%
27.9
78.4
-50.5
6 Auto-Owners Insurance Group
$24,743
3.40%
3.50%
-0.10%
31.7
89.3
-57.6
7 West Bend Mutual Ins Co
$21,116
2.90%
2.70%
0.20%
41.1
63.8
-22.7
8 Allstate Insurance Group
$20,928
2.90%
2.70%
0.20%
25.8
62.8
-37
9 Farmers Insurance Group
$20,680
2.80%
2.80%
0.00%
35.7
87.8
-52.1
10 Liberty Mutual
$16,476
2.30%
2.30%
0.00%
31.8
75.4
-43.6
Total from top 10 writers
$556,593
76.20% 75.50%
0.70%
(Avg.)
(Avg.)
78.55
-45.96
State Total For All Carriers Combined $731,293
34.9
47.8
-12.9
Independent Agents 43.5%
Direct Writers 56.5%
32.59
2016 IOWA HOMEOWNERS MARKET DIRECT WRITERS
INDEPENDENT AGENTS
SUMMER 2017 |
| 17
2016 EDITION
IOWA INLAND MARINE
(DIRECT WRITERS HIGHLIGHTED)
Name
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 Liberty Mutual Insurance Cos
$21,750
2 Assurant P&C Group
$17,413
9.00%
8.90%
3 SU Insurance Company
$10,133
5.20%
5.30% -0.10%
4 FM Global Group
$9,471
4.90%
4.70%
0.20%
5 CNA Insurance Co
$9,336
4.80%
4.00%
0.80%
6 Nationwide/Allied
$9,278
4.80% 4.70% 0.10%
7 State Farm Group
$8,836
4.50%
4.40%
8 Hartford Insurance Group
$8,493
4.40%
9 Travelers Group
$7,118
3.70%
3.40%
10 Allianz Amer Cos
$6,780
3.50%
3.20%
Total from top 10 writers
$108,608
56.00% 53.40%
2.60%
11.20% 10.20%
1.00%
72.2
65.2
7
0.10%
13
10.3
2.7
51.3
49.5
1.8
1
-3.1
4.1
65.3
59.3
6
40.3
37.6
2.7
0.10%
23.2
39.5
-16.3
4.60% -0.20%
37.7
61.5
-23.8
0.30%
17.2
39.3
-22.1
0.30%
36.6
35.5
1.1
39.46
-3.68
35.78
(Avg.)
State Total For All Carriers Combined $194,324
38.2 40.6 -2.4
2016 IOWA INLAND MARINE MARKET DIRECT WRITERS
INDEPENDENT AGENTS
Direct Writers 12.8%
Independent Agents 87.2%
IOWA COMMERCIAL CGL/BOP LIABILITY Name
(Avg.)
(DIRECT WRITERS HIGHLIGHTED)
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 Nationwide/Allied
$11,196
9.70% 10.90% -1.20%
44.7
49.6
2 Travelers Group
$9,936
8.60%
8.80% -0.20%
28.8
26.2
3 Auto-Owners Insurance Group
$7,158
6.20%
6.10%
0.10%
11.8
-1.6
13.4
4 Cincinnati Insurance Companies
$6,564
5.70%
5.50%
0.20%
11.8
78.2
-66.4
5 State Farm Group
$5,563
4.80%
4.80%
0.00%
3.2
-22.1
6 W R Berkley Group
$5,495
4.80%
4.40%
0.40%
23.5
42.5
-19
7 Farm Bureau P&C Group
$4,922
4.30%
4.20%
0.10%
8.2
41.8
-33.6
8 Grinnell Mutual Group
$4,427
3.80%
3.60%
0.20%
17.6
14.3
3.3
9 Philadelphia/Tokio Gp
$4,392
3.80%
3.80%
0.00%
42.6
23.3
19.3
10 QBE Americas Group
$3,059
2.60%
3.20% -0.60%
10.1
55.6
-45.5
Total from top 10 writers
$62,712
30.78
-10.55
33.3
-2.6
54.30% 55.30% -1.00%
20.23
(Avg.)
State Total For All Carriers Combined $115,563
30.7
Independent Agents 83.6%
18 |
Direct Writers 16.4%
2016 IOWA COMMERCIAL CGL/BOP LIABILITY DIRECT WRITERS
| SUMMER 2017
INDEPENDENT AGENTS
(Avg.)
-4.9 2.6
25.3
2016 EDITION
IOWA WORKERS’ COMPENSATION
(DIRECT WRITERS HIGHLIGHTED)
Name
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 EMC Insurance Companies
$65,118
8.50%
8.60% -0.10%
70.7
63.7
7
2 Travelers Group
$59,860
7.80%
7.70%
0.10%
87.8
74.3
13.5
3 Accident Fund Group
$48,714
6.30%
6.80% -0.50%
57.9
65.2
-7.3
4 Nationwide/Allied
$41,131
5.30% 5.40% -0.10%
48.7
51.1
-2.4
5 Old Republic Ins Grp
$38,176
5.00%
4.50%
0.50%
63.1
68.9
-5.8
6 Liberty Mutual Insurance Cos
$37,781
4.90%
5.50% -0.60%
66.2
74
-7.8
7 Zurich Fin Serv NA
$33,790
4.40%
3.50%
0.90%
49.3
51.4
-2.1
8 West Bend Mut Ins
$32,523
4.20%
4.60% -0.40%
47.3
51.3
-4
9 United Fire & Casualty
$30,508
4.00%
4.10% -0.10%
34.4
57.4
-23
10 ACE INA
$25,146
3.30%
1.30%
2.00%
56.4
52.7
3.7
Total from top 10 writers
$412,747
53.70% 52.00%
1.70%
-2.82
58.18
61.00
(Avg.)
(Avg.)
State Total For All Carriers Combined $770,150
58.7
67.5
Independent Agents 91.7%
Direct Writers 8.3%
2016 IOWA WORKERS’ COMPENSATION MARKET DIRECT WRITERS
INDEPENDENT AGENTS
IOWA COMMERCIAL PROPERTY Name
-8.8
(DIRECT WRITERS HIGHLIGHTED)
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 Nationwide/Allied
$37,307
70
105
2 State Farm Group
$16,778
14.40% 15.50% -1.10% 6.50%
6.30%
0.20%
26.7
67
-40.3
3 Auto-Owners Insurance Group
$16,252
6.30%
6.40% -0.10%
23.7
59.6
-35.9
4 Cincinnati Insurance Companies
$15,217
5.90%
6.50% -0.60%
49.5
48.2
1.3
5 Travelers Group
$14,807
5.70%
6.10% -0.40%
9.1
82.1
-73
6 ACE INA
$13,574
5.30%
1.40%
3.90%
17.6
96.4
-78.8
7 Grinnell Mutual Group
$10,150
3.90%
3.70%
0.20%
21.8
57.1
-35.3
8 W R Berkley Group
$10,086
3.90%
4.10% -0.20%
46.4
54
9 Farm Bureau P&C Group
$8,979
3.50%
3.30%
0.20%
17.5
68.3
-50.8
10 American Family
$8,263
3.20%
2.80%
0.40%
49.3
99.4
-50.1
Total from top 10 writers
$151,413
58.60% 56.10%
2.50%
73.71
-40.55
46.7
-11.1
33.16
(Avg.)
State Total For All Carriers Combined $258,271
35.6
2016 IOWA COMMERCIAL PROPERTY MARKET DIRECT WRITERS
INDEPENDENT AGENTS
(Avg.)
Independent Agents 82.5%
SUMMER 2017 |
-35
-7.6
Direct Writers 17.5%
| 19
2016 EDITION
IOWA OTHER COMMERCIAL LIABILITY Name
(DIRECT WRITERS HIGHLIGHTED)
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 Nationwide/Allied
$27,878
7.40% 7.40% 0.00%
33.6
37
-3.4
2 EMC Insurance Companies
$27,572
7.30%
7.30%
0.00%
55.6
52.3
3.3
3 Grinnell Mutual Group
$21,429
5.70%
5.60%
0.10%
28.8
18.3
4 American Intl Group Inc
$18,988
5.00%
6.50% -1.50%
70.6
86
5 Travelers Group
$16,508
4.40% 4.50% -0.10% 60.5 -7.9 68.4
6 ACE INA
$14,634
3.90%
2.70%
1.20%
7 United Fire & Cas Grp
$14,440
3.80%
3.70%
0.10%
8 State Farm
$12,164
3.20%
3.20%
0.00%
9 Farm Bureau P&C Grp
$12,109
3.20%
3.20%
0.00%
13.7
20.4
-6.7
10 Zurich Fin Serv NA
$12,095
3.20%
3.30% -0.10%
68.6
49.9
18.7
Total from top 10 writers
$177,817
48.27
43.05
5.22
42.9
34.5
8.4
47.10% 47.40% -0.30%
State Total For All Carriers Combined $376,458 Direct Writers 16.1%
Independent Agents 83.9%
9.7
10.5 -15.4
41.4
-31.7
58
74.2
-16.2
83.6
58.9
24.7
(Avg.)
(Avg.)
2016 IOWA OTHER COMMERCIAL LIABILITY MARKET DIRECT WRITERS
INDEPENDENT AGENTS
IOWA FEDERAL FLOOD
(DIRECT WRITERS HIGHLIGHTED)
Name
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 Selective Ins Group
$2,961
29.20% 29.50% -0.30%
44.3
73.9
-29.6
2 Auto-Owners Insurance Group
$1,535
15.20% 15.10%
0.10%
37.7
81.5
-43.8
3 Assurant P&C Group
$1,074
10.60% 10.30%
0.30%
28.8
4 Nationwide/Allied
$995
9.80% 8.90% 0.90%
5 Hartford Ins Group
$972
9.60% 10.80% -1.20%
6 Wright Nat Flood Ins
$868
8.60%
9.20% -0.60%
7 American Family Ins Group
$689
6.80%
6.40%
0.40%
10.9
24
-13.1
8 Farmers Insurance Group
$234
2.30%
2.20%
0.10%
3.4
98.4
-95
9 Allstate Insurance Group
$208
2.10%
1.90%
0.20%
0.4
68.4
-68
10 USAA Group
$149
1.50%
1.50%
0.00%
8
Total from top 10 writers
$9,685
95.70% 95.80% -0.10%
30.7 51.4
-45.9
8
76.2
-68.2
10.6
39.3
-28.7
15.76
8.3
-0.3
55.21
-39.45
(Avg.)
(Avg.)
State Total For All Carriers Combined $10,124
24.2
27.8
2016 FEDERAL FLOOD DIRECT WRITERS
20 |
| SUMMER 2017
INDEPENDENT AGENTS
-1.9
5.5
Independent Agents 86.7%
-3.6 Direct Writers 13.3%
2016 EDITION
IOWA PRODUCTS LIABILITY Name
(DIRECT WRITERS HIGHLIGHTED)
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 Nationwide/Allied
$6,506
15.90% 15.80% 0.10%
25.3
2 United Fire & Cas Grp
$5,511
13.40% 12.70%
56.8
20.5
3 ACE INA
$3,098
7.60%
2.50%
5.10%
68.7
4.2
4 EMC Insurance Companies
$2,646
6.50%
6.80% -0.30%
113.3
1.3
112
5 Cincinnati Insurance Companies
$2,284
5.60%
6.30% -0.70%
29.9
50.9
-21
6 Liberty Mutual Insurance Cos
$1,970
4.80%
6.10% -1.30%
39.4
-18.5
57.9
7 Hartford
$1,721
4.20% 2.20% 2.00%
-1.7
-32.9
31.2
8 West Bend Mut Ins
$1,516
3.70%
3.10%
0.60%
21.8
13.1
8.7
9 Grinnell Mutual
$1,479
3.60%
3.30%
0.30%
2.3
26.4
-24.1
10 Travelers
$1,026
2.50%
1.90%
0.60%
950.9
2.2
948.7
Total from top 10 writers
$27,757
67.80% 60.70%
7.10%
7.59
123.08
30.1
39.8
0.70%
State Total For All Carriers Combined $40,974
2016 PRODUCTS LIABILITY DIRECT WRITERS
INDEPENDENT AGENTS
130.67
(Avg.)
69.9
8.7
(Avg.)
16.6 36.3 64.5
Direct Writers 3.5% Independent Agents 96.5%
IOWA MEDICAL PROF LIAB
(DIRECT WRITERS HIGHLIGHTED)
Name
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 MMIC Ins Group
$27,086
41.00%
40.30%
2 American Intl Grp
$12,558
19.00%
19.10% -0.10%
3 ProAssurance Grp
$5,951
9.00%
7.60%
4 CNA Insurance Companies
$4,541
6.90%
6.70%
5 Berkshire Hathaway
$2,984
4.50%
6 NCMIC Group
$2,609
4.00%
7 Coverys Companies
$1,976
8 Health Care Ind RRG
$942
9 ISMIE Mutual Group 10 Nat Group Total from top 10 writers
$59,814
0.70%
55
23.6
31.4
45.4
18.1
27.3
1.40%
6.2
-34.7
40.9
0.20%
44.8
-17.2
62
3.70%
0.80%
31.3
82.9
-51.6
4.00%
0.00%
25.8
11
14.8
3.00%
3.50% -0.50%
33.7
122.3
-88.6
1.40%
1.80% -0.40%
39.9
53.5
-13.6
$611
0.90%
0.90%
0.00%
-99.9
344.5
-444.4
$556
0.80%
0.80%
0.00%
5
0.6
4.4
90.50% 88.40%
2.10%
60.46
-41.74
5
37.9
State Total For All Carriers Combined $66,037 Independent Agents 87.1%
Direct Writers 12.9%
18.72
(Avg.)
42.9
(Avg.)
2016 MEDICAL PROF LIAB DIRECT WRITERS
INDEPENDENT AGENTS
SUMMER 2017 |
| 21
2016 EDITION
IOWA FARMOWNERS MULTI PERIL*
(DIRECT WRITERS HIGHLIGHTED)
Name
2016 2016 2015 2016 2015 Direct Written Market Market Adjusted Adjusted Premiums (000) Share Share Difference Loss Ratio Loss Ratio Difference
1 Farm Bureau P&C Group
$92,782
47.80%
38.8
93.8
-55
2 Nationwide/Allied
$38,477
19.80% 19.50% 0.30%
56.3
99.7
-43.4
3 State Farm Group
$21,329
11.00%
10.30%
0.70%
43.6
140.7
-97.1
4 Auto-Owners Insurance Group
$7,113
3.70%
3.70%
0.00%
29.4
125
-95.6
5 American Family Ins Group
$5,269
2.70%
2.80% -0.10%
74.2
68.8
5.4
6 Hastings Mut Ins Co
$5,171
2.70%
2.80% -0.10%
46.2
162.5
-116.3
7 Westfield Group
$4,337
2.20%
2.10%
0.10%
55.7
67.1
-11.4
8 North Star Companies
$3,874
2.00%
1.70%
0.30%
56.8
83.7
-26.9
9 SECURA Ins Companies
$3,384
1.70%
1.50%
0.20%
33.1
37.7
-4.6
10 Great Amer P&C Grp
$2,781
1.40%
1.60% -0.20%
3.8
-40.5
44.3
Total from top 10 writers
$184,517
48.20% -0.40%
95.00% 94.20%
0.80%
43.79
(Avg.)
State Total For All Carriers Combined $194,132
44.4
2016 FARMOWNERS MULTI PERIL
Independent Agents *Farmowners does not reflect county 38%
DIRECT WRITERS
83.85
-40.06
(Avg.)
53.3
-8.9 Direct Writers 62%
mutual market share which combined would be the largest writer.
INDEPENDENT AGENTS
IOWA INSURANCE HALL OF FAME 2 0 1 7
i
n
d
u
c
t
e
e
s
Each year the Iowa Insurance Hall of Fame inducts 5 insurance professionals who have made outstanding contributions to the Iowa insurance industry. A selection committee evaluates nominations on standards including ethics and impact on the industry. To be eligible for consideration, nominees must have an Iowa connection, serve as a role model for young people as well as others in the insurance business, exhibit the highest standards of ethical conduct and have significantly impacted the insurance industry. To learn more about nominating someone for the Iowa Insurance Hall of Fame visit http://www.iihof.org/ Dan M. Molyneaux, accepting on behalf of his father, Dan A. Molyneaux, Chairman Emeritus of Molyneaux Insurance, Inc. AJ Krist, accepting on behalf of his father, James “Jamie” Krist, Founder of Krist Insurance Group of Iowa J. Barry Griswell, Retired Chairman, President and CEO of Principal Financial Group Inc. Judy Thoreson, accepting on behalf of her grandfather, Albert Falkenhainer, Founder of Pharmacists Mutual John Forsyth, Chairman and CEO of Wellmark Blue Cross and Blue Shield
22 |
| SUMMER 2017
For more information, call: 800.897.9719 www.amerisafe.com
16 Iowa agents recently traveled to Washington, D.C. to call on Iowa’s Congressional delegations. We met with all six of our members to discuss crop; flood; health insurance; along with tax reform and regulatory oversight.
Meeting Congressman Young in the U.S. Capitol
24 |
| SUMMER 2017
Congressman King having a discussion with Terry McDonald
Senator Grassley engaging with Jerry Mease
Congressman Blum (right side) meets with Iowa agents
U.S. Senator Joni Ernst engaged with the Iowa group
Congressman Loebsack with some of the Iowa agent delgation
SUMMER 2017 |
| 25
2017 IIAI AGENT / COMPANY MEETING REPORT Each year IIAI Company and Public Relations / Trusted ChoiceÂŽ Committee meets with a group of companies to discuss topics of interest to agents. The following three companies met with IIAI members in May, 2017.
Their reports follow.
AAA MINESOTA/ IOWA Kirk Saddoris and Jason Ward
SECOND LARGEST AAA CLUB IN NORTH AMERICA AAA Minnesota/Iowa is a part of The Auto Club Group (ACG), which is the second largest AAA Club in North America. ACG and its affiliates provide membership, insurance, financial services and travel offerings to more than 9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG is a top 20 writer of auto insurance in the country with 8,200 employees and $4 billion in total sales. ACG was just awarded the #4 ranking in the 2017 US Shopping Study by JD Power.
Property and Casualty Insurance ACG has three insurance brands: ACGIC (Auto Club Group Insurance Company) for the general public, Meemic for educators and their families in Michigan, Illinois, Wisconsin;
28 |
| SUMMER 2017
and Fremont for personal and commercial lines with independent agencies in Michigan. In addition, ACG has joint venture operations in Florida, Kentucky, Ohio, Pennsylvania and West Virginia with the Automobile Club of Southern California (a part of Auto Club Enterprises). ACG insures over 2 million vehicles and 900,000 homes through a network of independent agents, employee agents, and exclusive agents. For two years in a row, AAA has been recognized by Harris Poll EquiTrend® Study as a top brand. In 2016, AAA was named Auto Insurance Brand of the Year and in 2017, we were awarded Property & Casualty Insurance Brand of the year. The Auto Club Group (ACG) is a Top 25 Property & Casualty writer in the state of Iowa. In 2016, ACG had a solid loss ratio of 58.4% with nearly $15 million in written premium and solid growth indicated by a 9.3% increase in written premium over the prior year. ACG insures 27,257 autos and homes and has 172 independent agency loca-
tions throughout the state. “We are excited to have grown the number of autos and homes over each of the past three years with a profitable loss ratio. Long term, sustainable, profitable growth is one of our mandates,” said Field Vice President Jason Ward. AAA customers in Iowa are eligible to receive AAADrive™ Usage-Based Insurance Discount on their auto insurance policy. AAADrive™ is a new mobile application that helps members improve their driving safety by using smartphone technology to capture key data related to factors like mobile distraction, speed, smoothness, time of day and fatigue. One of the advantages of this technology is it utilizes the user’s own mobile device instead of a telematics device placed inside their vehicle. Participants can earn up to a 30% discount. The Motor Club of Iowa, later known as AAA Iowa, was founded in 1922. In January 1997, AAA Minnesota and AAA Iowa merged to form AAA
Minnesota/Iowa. Originally known primarily for its emergency road service, AAA Minnesota/ Iowa has expanded its member benefits on a continuous basis to address members’ growing needs in various sectors of their lives.
Agent Relationships and our Commitment to You It’s all about relationships at The Auto Club Group. Our Independent Agencies in Iowa have a dedicated Territory Sales Manager, Kirk Saddoris, under the direction of Regional Sales Director, Donna Kimmes. In addition, each agency has an assigned underwriter. Three underwriters are dedicated to the state of Iowa: Kameisha Reaves, Nancy McDaneld and Cheryl Wild, under the direction of Underwriting Manager, Kerry Vnuk. While our Underwriting Team is located in Omaha, NE, we have a corporate commitment to have our underwriters travel on a regular basis throughout Iowa. At AAA, we truly value our Independent Agents and are very proud of what you are accomplishing in Iowa. Many of you are aware that we are a company that does business through multiple distribution channels. These options allow our customers to choose how they want to do business with us: Independent Agent, Captive Agent, Exclusive Agent, Call Center, or online. The beauty of AAA is that we treat all customers with the same superior customer service, rate
structure and underwriting guidelines regardless of their channel choice. This should be “peace of mind” for you. With nearly $15 million written premium in the state of Iowa we would like to continue to expand our Independent Agency appointments.
Growing Iowa Sales In the Independent Insurance Agents of Iowa Annual Meeting on April 20th in West Des Moines, Kirk Saddoris, Territory Sales Manager and Jason Ward, Field Vice President were asked about growth plans for the market. They stated that AAA has grown policy counts three years in a row, with a successful loss ratio due in part to our competitive pricing built around a package of auto discounts: • Up to 30% AAADrive™ discount • Up to 10% AAA Membership discount
• Up to 5% Advance Purchase discount • Up to 5% Paid-in-full discount • Up to 8% Education and Occupation discount Saddoris and Ward went on to say how critical it is at the quote stage to apply all the discounts AAA offers to get the best possible price and maximize your sales opportunity. These five discounts alone total 58% savings so there is tremendous opportunity to grow your book of business with AAA by capitalizing on all available savings.
5 Things You Should Know About AAA Membership The powerful AAA brand resonates with your customers and carries with it a sense of trust and loyalty you don’t find with other carriers. AAA provides security, peace of mind and other valu-
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able benefits that others can’t match. 1. Membership Travels with the Member – Not the Vehicle. AAA focuses on the member, not just the vehicle. Membership is the focus of what we do, so we believe our members should always have peace of mind knowing best-in-class roadside assistance is at their fingertips (literally through the AAA Mobile App) – no matter whose vehicle you are in. 2. Keep Your Identity Protected – For Free! With AAA membership you get the ProtectMyID® monitoring service valued at $79 annually – for free, which alone pays for the cost of membership. This new member benefit provides daily monitoring of credit reports with email and/ or text alerts to notify members of key activities as well as offering fraud resolution assistance to those impacted. 3. Save Money through Discounts & Rewards®. As the largest member discount program in the world with more than 126,000 savings partners worldwide, AAA Discounts & Rewards® usually aren’t far away, especially through the AAA Mobile App or AAA.com. AAA members save more than $1 billion annually with an average annual savings of $86 each. 4. AAA Dollars® Can Pay for Your Membership. Closely tied to Discounts & Rewards, AAA Dollars® is a member loyalty program where you can earn credit towards membership by shopping at participating partner locations, at select AAA offices, through gift memberships, Refer-A-Friend, Digital Gift Cards, or through one of our more than 80 retail partners. It’s even possible to accumulate enough AAA Dollars® to pay for next year’s membership. 5. Save on Repairs Through AAAApproved Auto Repair Facilities. By taking their vehicle to one of the 8,000 AAA Approved Auto Repair facilities across the U.S. and Canada, members can save 10 percent on all labor costs (up to $50) and receive a 24-month/24,000
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mile warranty on all repairs. These Approved Auto Repair (AAR) facilities are inspected, tested and approved through a series of criteria. This screening takes the guesswork out of finding a facility and allows customers to get back on the road quicker.
How We Differentiate Ourselves: AAA Minnesota/ Iowa and the Community “AAA differentiates itself from other carriers because of our unique involvement in the community, particularly our traffic safety advocacy,” said Jason Ward. The first Des Moines Area Auto Show was held this year, March 10-12th at the Iowa State Fairgrounds. Hosted by the Des Moines Register and sponsored by AAA - The Auto Club Group, Des Moines area residents were offered an opportunity to see the newest automobiles and features. ACG recently launched its Tow to Go (TTG) program in Iowa in conjunction with Super Bowl weekend, February 3rd – 5th. TTG provides a safe ride home for impaired drivers, as well as a tow for the impaired person’s vehicle, during nine major holiday periods throughout the year. These holidays include: St. Patrick’s Day, Cinco De Mayo, Memorial Day, Independence Day, Labor Day, Halloween, Thanksgiving and Christmas thru New Year’s Eve. ACG’s Auto Club Group Traffic Safety Foundation and Budweiser provide this program to prevent impaired drivers from getting behind the wheel and risking the lives of other motorists. Also for the first time this year, ACG is sponsoring RAGBRAI (The Register’s Annual Great Bicycle Ride Across Iowa). RAGBRAI is the oldest, largest and longest bike ride in the nation. We are proud to announce the expansion of the bicycle service benefit to AAA - The Auto Club Group members across all eleven of our states which includes Iowa. Free bicycle service is now included with all membership levels. This innovative service will
provide an additional level of safety for motorists and bicyclists. AAA Service Technicians will be able to assist members who they can safely reach from an accessible road or parking lot. The member’s bicycle will then be secured to the service vehicle, and transported to any point of safety within the member’s coverage. In April, ACG received the Special Award for Traffic Safety presented by the Commissioner of the Iowa Department of Public Safety. The award recognizes The Auto Club Group’s commitment to enhancing roadway safety across the state of Iowa through many programs and partnerships. In March of 2016, we launched AAA’s “I Got Caught” program to increase teen driver and passenger safety belt use. In September 2016, we held the first Iowa Drugged Driving Summit to raise awareness of impaired driving involving both legal and illegal drugs. In January of this year, we made a contribution to Iowa’s ARIDE (Advanced Roadside Impaired Driving Enforcement) program to help train law enforcement officers in the identification and apprehension of drugged impaired drivers.
Our Vision ACG delivers extraordinary customer service. We find innovative solutions in a changing world and discover new ways to connect with our members. We work hard. Most importantly, we live and uphold our values every day by always doing what’s right for our members, customers, communities, and each other. Our new vision is at the heart of all we do: We help AAA members enjoy life’s journey with peace of mind by providing innovative solutions, advocacy, and membership benefits wherever and whenever they need them. Our heartfelt thanks to all existing Iowa Independent Agents for your partnerships! With your support, we look forward to a very strong and successful 2017!
COMPREHENSIVE COVERAGE IS OUR MIDDLE NAME. Only Burns & Wilcox has the depth and breadth of experience to deliver the right solutions right away. Minneapolis, Minnesota | 612.564.1880 toll free 800.328.1693 | fax 612.564.1881
burnsandwilcox.com
Milwaukee, Wisconsin | 262.347.0266 toll free 800.544.5700 | fax 262.347.0440
Commercial | Professional | Personal | Brokerage | Binding | Risk Management Services
COLUMBIA INSURANCE GROUP Ben Culter, Shane Martinez, Gary Thompson and Aaron Kobza
We Insure Peace of Mind
©
Back in 1874, few insurance companies would insure risks in the new frontier. So, neighbors banded together to mutually insure each other’s property against fire and windstorms. Their promises helped form the foundation for what is now Columbia Insurance Group, which is based in Columbia, MO. Today our primary focus is on commercial Property/Casualty insurance in a 14 state territory across the Midwest and Southeast regions. They provide quality coverage that has become essential to their independent insurance agency partners and policyholders.
We Support Small Business
Exceptional Service
Not unlike the independent agents we partner with and serve each day, small businesses are an important part of our business. As a mutual insurance carrier, we do business exclusively through our independent agency partners. We strive to support our agency partners by building enduring relationships, providing value and exceptional service in fulfilling our promises; just as we’ve done for over 140 years.
We believe innovation and continuous improvement are vital, which is why we are in constant communications with our independent agency partners about their technological needs for success. A few examples include: introducing new billing options for new and renewal business; providing a mobile application for Personal Auto policyholders; enhancements to Bridge Rating. In fact, the Bridge Rating application is designed to save our agents time while reducing errors that may occur during the quoting process.
We have five branch office locations: Atlanta, GA; Austin, TX; Columbia, MO (Home Office); Omaha, NE; Salina, KS. Our Omaha Branch office serves Iowa, Nebraska, and South Dakota.
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Our agents are at the forefront of our business decisions, especially when it comes to Downloading Data. As
a company, we are 14.6% above the industry average for the adoption of our Downloads across all lines of business, and we continue to improve our offering in order to also improve our service. We have these processes in place to make it easier for our agents to work with us. Our policyholders consistently report a 97% claims satisfaction rating or higher, which reflects the dedication and drive not only of our claims staff, but it reflects the company culture as well.
Enduring Relationships Honesty, integrity and fairness are core values we live by in our personal and professional lives. These values have allowed our employees not only to cultivate a culture of accountability, but one that’s reflected back onto the lasting relationships we form with our agency partners. Our employees are our greatest asset! Our nearly 300 associates span across five branch offices. Half of those reside in the Home Office location while the Omaha Branch office employs 32 highly experienced staff. Because of our strong company culture, the tenure our
offices carry is exceptional. Our average staff member carries 12 years of service, and our management staff carries over 15 years each. Additionally, we’ve helped 18 of our current associates earn their CPCU designation, with at least six others currently working toward the same designation, which greatly contributes to the service we are able to provide.
Providing Value The pace of our industry is moving quickly which is why we have diversified our communications streams to make it as easy as possible for agents to reach us and share our valued industry insight. We have an established social media presence on Facebook, Twitter, LinkedIn and YouTube with an eye on several others. We also maintain a blog of easy-toshare articles agents may share or re-post for the benefit of their clients. Regarding automation, our Omaha Branch is excelling. Our dedication to our agency partners is clear by the way we have promoted the adoption of our agency Downloads; achieving a 66% download adoption rate across all lines of business in our Omaha Branch alone. This figure is 19% above the industry average for Download adoption. The automation we offer saves our agency partners processing time and allows them to work faster and more closely with their clients. Our mobile app aims to make it easy for our Personal Auto policyholders to view their insurance ID card via their mobile device, which has received thousands of downloads since its introduction. We will be releasing additional mobile apps in the future to serve multiple policy types, including commercial business. Additionally, with a recent award winning redesign of our website, our agent’s clients now have the ability to view their insurance documents online and report auto
claims online, which allows us and our agents to provide more efficient service to the policyholder. Everything we do is to provide value to our agency partners.
Planning For The Future Over 80% of our book of business is commercial lines with plans to grow. In the Omaha branch, commercial lines business makes up nearly 90% of the book. Within the commercial lines arena, our appetite is small to medium size accounts. The average account premium size in Omaha is about $6,500 while our largest account generates in excess of $350,000. We write a wide variety of risks including but not limited to: contractors, retail, restaurants, auto service garages, lessors risk properties, light manufacturing and distributors. Our plan is to grow
our book of business in Iowa by 25% by the end of 2018. We will accomplish this by growing with our existing agency partners as well as recruiting and on-boarding new partners in areas where we’re under represented. We also have plans to refine and grow our renowned Pinnacle Agency program which recognizes our top tier of agency partners. In fact, our top 25 performing agencies alone achieved $6.4 million in Written Premium Growth in 2016. Additionally, we awarded our qualifying agency partners over $6 million in Profit Sharing for their 2016 performance which was our largest Profit Sharing distribution since 2006. Clearly, our strategic growth initiatives have inspired our agents to grow, as well.
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At Partners Mutual Insurance, we have one focus: building relationships. From listening and responding to our agents’ feedback, to building selfservice online tools to make it easier to interact with us effortlessly, we believe that it is our relationships that make our company stand out from the rest.
Ask your surety underwriter about the common sense power of Merchants’ quill.
For information about becoming a Partners Mutual Insurance Agent please contact Chuck Becker at 800.388.4764 ext. 3484.
Merchants Bonding Company™ (Mutual), Merchants National Bonding, Inc. & affiliated companies | 6700 Westown Parkway, West Des Moines, IA 50266
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Great American Insurance Group
Jim Muething and Mark Allison
Specialty Expertise Makes the Difference Our History Great American Insurance Group has a history in the insurance business that dates back to 1872 with the founding of Great American Insurance Company. Years of specialization and focus in markets we know best have enabled us to become a leading Specialty P&C and annuity business 145 years later. Our Specialty P&C businesses provide insurance solutions that help businesses manage the unique risks in their operations, industries and markets. Our annuity operations help individuals plan for secure financial futures by providing annuity products that are simple to understand and responsive to their needs. Our business model, culture and values form an important foundation to deliver on our purpose and our brand promise. Our business has an entrepreneurial spirit at its core. Experienced professionals oversee each of our Specialty P&C businesses, focused on a particular industry, product or market. Each business handles its own decision making related to underwriting, marketing, claims and policy servicing. We believe this approach enables each of our businesses the autonomy necessary to respond to local and specialty market conditions. Our annuity professionals oversee a consumer-friendly product design philosophy and manage pricing strategies within each of our distribution channels.
Financial Strength Great American Insurance Group’s member companies employ approximately 7,200 employees in nearly 120 office locations globally. Great American Insurance Company, our flagship insurer in our P&C business, is rated “A+” (Superior) and is one of
only five property and casualty insurers to have maintained a financial strength rating of “A” or better from A.M. Best Company for over 100 years. We are also a member of the Ward’s 50® list of insurers recognized for achieving key benchmark measures for safety, consistency and performance. We are
proud to be one of only two companies to achieve both of these distinctions. Our property and casualty insurance products are distributed through thousands of independent insurance agents and brokers who rely on the financial strength that is signified by these ratings.
Commitment to our Agents We recognize and value the role of the independent agency system in helping us to deliver high caliber insurance solutions to the market. We believe the trusted relationships we have with our independent producers, coupled with the high level of personalized service these agents provide to their clients and our policyholders, drives superior results. Helping our agents to succeed is important to serving our policyholders. Our Insurance Business Training Program provides an opportunity for selected agents to visit our offices and train alongside our employees for a two-week period. Great American’s Crop Division also offers extensive training and support for agents serving this niche industry. Our “Crop University” online training, coupled with various training sessions throughout the year for continuing business and technology training,
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serve as other examples of our commitment to continuing professional education and development programs for our agents.
leasing institutions. Also included in this group are our fidelity and crime and trade credit operations, as well as our surety business.
As an insurer who has been protecting America’s farmers since 1915, we have witnessed a great deal of change in the agribusiness community. Technology support, particularly for agents working “in the field” serving farmers is increasingly important, so we have invested in mobile technology solutions. We are especially pleased to offer the GreatAg® mobile app, where agents can securely access information, view policy data, access farm maps, and generate quotes. Included in our GreatAg app is our popular GreatAg Electronic Acreage Reporting system (GEAR), which offers offline capabilities, including both maps and data. Our agents can collect acreage reports on an iPad® from the field, with no wireless access required – streamlining their work and enhancing their service to their policyholders. Investing in our agents and providing tools to support them helps to ensure that they are well equipped to provide the best possible customer service.
Our Annuity Group sells traditional fixed and fixed-indexed annuities in the retail, financial institutions and education markets. Today, annuities sold through independent agents and financial institutions represent about 95% of AFG’s statutory annuity premiums. AFG sells annuities in the retail channel through a network of over 5,000 agents who wrote at least one annuity policy with AFG during 2016. AFG also sells annuities in financial institutions through direct relationships with the financial institutions and through independent agents and brokers; in this channel, approximately 5,000 agents or employees representing approximately 35 financial institutions wrote at least one annuity policy with AFG during 2016. For the full year, AFG ranked first in sales of fixed-indexed annuities through financial institutions and eighth for sales of fixed annuities overall.
Marketing-Leading Businesses Our P&C businesses wrote $6.0 billion in gross written premium in 2016. Over 60% of this premium was produced by Great American Insurance Group insurance businesses with “top ten” market rankings. Great American’s 34 Specialty P&C businesses offer hundreds of innovative products and programs designed to manage the specific risks within various market segments and industries. Our Property and Transportation Group is comprised of several specialty insurance operations that are leaders in the markets they serve, including our wholly owned National Interstate subsidiary and our crop insurance business, which is the fourth largest provider of multi-peril crop insurance in the United States. We are also the leading provider of coverage to the equine community through our equine mortality business and are among the
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top providers of coverage for independent owner/operators in the trucking industry. Other businesses in this group offer ocean marine and property and inland marine insurance, as well as various forms of coverage for the agricultural industry. Our Specialty Casualty Group is the largest group within our Specialty P&C operations and includes our workers’ compensation, executive and professional liability, general liability, umbrella and excess liability, international, non-profit social services businesses, and surplus lines coverages. This group also provides coverage to targeted markets, such as environmental insurance solutions, package products for the public sector and risk-sharing captive programs. Our Specialty Financial Group includes our financial institutions business, which offers a wide variety of insurance coverages to lending and
Forward Thinking We work in an industry that is critical to our economy. A forward-thinking mindset is essential to helping individuals and businesses manage their ever-changing financial risk exposures. By doing so, businesses continue to operate when it might otherwise be impossible – or too risky to do so. At Great American, we are specialists committed to continue to look beyond what we see and know today to anticipate changing needs and priorities of our policyholders, agents and employees within this dynamic industry.
We know what it took to build this unique business. And we know what it takes to protect it. Underwriters who know and understand what coverages are necessary for each unique business. Loss prevention professionals who use a hands-on approach to help develop programs tailored to each specialty business. Claim reps with the expertise and technology to process claims quickly and efficiently. As an Official Supplier of the Silver LiningÂŽ, you and West Bend will find a specialized insurance plan for your valued customers. To find out more, talk to your West Bend underwriter.
IIAI SCHOLARSHIP WINNERS
Katherine Simpson Scott & Alison Simpson Community Bank & Insurance Spencer, IA
Leah Ramsey James & Wendy Ramsey Ramsey-Weeks Inc Grinnell, IA
Grant Neighbor Eldon & Kathy Neighbor Neighbor Insurance Services Alburnett, IA
Johanna VanderWilt David & Maggie VanderWilt Brown-Hurst Insurance Agency Eldora, IA
Tyler Geiger Michael Geiger Light’s Insurance Agency Deep River, IA
Katheryn Curran Scott Curran Abens Marty Curran Agency Hunboldt, IA
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INDEPENDENT INSURANCE AGENT –
MY FIRST-HAND EXPERIENCE
I
recently attended an E&O conference in Madison, WI. While I was in the meeting I looked down at my phone and noticed a missed call and a voice mail from my wife (Georgia) back home in Des Moines. Immediately, I had one of those strange feelings inside that something may be wrong. First off, it was the middle of the afternoon and Georgia was aware that I was attending a conference so the call was a bit strange. Second, the fact that she left a voice mail made me wonder what she could be wanting. I went out to the hall and listened to her message. Sure enough, my hunch was correct – there was a problem. She advised me that she had been in an auto accident and was calling me from the scene. Her message was short and sweet, “I’ve been in a car accident, I’m not hurt but the car is not drivable”. I tried to call her right back to see what had happened and make sure she was ok but her phone of course went right to voice mail. I realize accidents happen every day and are a part of life, however this one was unique for the following reasons. We have been married for over 25 years and this was the first accident she has ever been involved in; it occurred when I was 5 hours away from home; and the most unusual aspect of the whole event happened to be that the accident occurred on a Tuesday, 1 day after I had cancelled my insurance policy and started with a new company. For the better part of my entire adult life, I have been insured with the same carrier. My father was a military man and we have always utilized a national direct write carrier that provides coverage for military members and their families. I can’t say that I ever encountered any problems with the company, just the fact that I never needed them.
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by Tom O’Meara, Chief Operating Officer I understood when I took this position with the Big “I” that I would need to switch my insurance coverage to an independent insurance agent. I assumed it was more a matter of protocol than anything never thinking I would have a need for the services of my independent agent other than servicing the policy. Since I was unable to contact my wife following the accident, I then called my independent insurance agent, Patrick Neal of the Neal Insurance Agency. I started out the conversation by apologizing to Patrick for what I was about to tell him. Second full day on the new policy and already reporting a claim. I explained to him that I was out of town and Georgia would need to get her car towed and obtain a rental vehicle. He told me not to worry and he would take care of everything for me. I finally got a hold of Georgia and advised her of the process. She was still a bit shaken up and told me she
had a ride home from the accident scene and would call me when she arrived. It took her over an hour for her to call me back and I inquired as to what took so long. She told me the “insurance man” had come over and just left the house. Come to find out, the “insurance man” was my agent, Patrick Neal. When I told him that I was out of town, he took it upon himself to drive over to our house and check and be sure Georgia was ok. He took a copy of the police report and told Georgia that Enterprise would be contacting her to deliver a rental car. He assured Georgia that everything would be ok and that he would handle all the insurance details since I was out of town. Now I must say; it takes A LOT to impress my wife but the service provided by Patrick did just that. She could not stop talking about the professionalism, care, and concern that he expressed. I am sharing this story with all of you because it shows what a valuable asset all of you are to your customers. I would never have had this type of service from my prior carrier. It would have simply been a matter of calling an 800-phone number and getting instructed over the phone on how to proceed with the claim. I never asked or expected that my agent would take time out of his day and drive to my house to visit with my wife. Not only did his actions help her to calm down and assure her that everything would be taken care of, it gave me a sense of relief being 5 hours away knowing that everything was being taken care of by my local independent insurance agent.
2017 IIAI
Young Agents Conference About 100 agents attended May 9 & 10 at Embassy Suites Downtown
Workers’ Compensation update lead by Bob Skow Tom O’Meara discussed regulatory issues
Jared Kirby of the Iowa Insurance Division discussed fraud
Discussion on making sales presentations with Mary Eisenhart Belka
Sales performance was discussed by Charlie Anderson
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Finance
your E & O policy with IFC.
We provide agents with special rates & terms for this program.
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WE ARE A LOCALLY OWNED AND INDEPENDENT IOWA COMPANY.
Call your Big “I” Errors and Omissions Team! Three Reasons your Errors and Omission Coverage should be with your Association
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hen it comes to your agency professional liability insurance who can you trust more than the Big “I”? First we have membership discounts with the three main markets for agents errors and omissions insurance, second we have a team of errors and omissions professionals to assist you and help answer your questions, and third we are the only market that actively puts your association clout to work passing liability laws which help make Iowa a great place to operate your agency! So if your coverage is not with us…call and get a quote! Marilyn Paul, CPCU, AIT, AAM, CPIW; Brenda Kluger, CRM, CIC, CISR, CIIP and Megan Kincy, AIS, AINS along with CEO Bob Skow, CPCU, CAE are here to help you! 800-272-9312
Looking for E&O answers, agency resources or tips? Check out the E&O Happens website – www.independentagent.com/eohappens Sign in with your Big “I” username and password to access the information
You’re an independent agent.
Do you trust your pit crew?
The Big “I” Professional Liability Program Protect. Prosper. Prevent. Our risk management resources keep your agency from making common preventable mistakes.
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When you know you have the best E&O protection, you can focus on growing your most important asset–your business.
The Big “I” and Swiss Re are jointly committed to providing IIABA members with leading edge agency E&O products and services. The IIABA and its federation of 51 state associations endorse Swiss Re’s comprehensive professional liability program.
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Insurance products underwritten by Westport Insurance Corporation, Overland Park, Kansas. Westport is a member of the Swiss Re group of companies and is licensed in all 50 states and the District of Columbia. ©2014 Swiss Re Corporate Solutions
INDEPENDENT INSURANCE AGENTS OF IOWA 4000 Westown Parkway, Suite 200 West Des Moines, Iowa 50266
PRSRT STD U.S. Postage Paid Des Moines, IA Permit No. 2538
2017
INDEPENDENT INSURANCE AGENTS OF IOWA PROGRAM SPONSORS A special thank you to the following sponsors for supporting IIAI’S Conferences and Programs in 2017.
PLATINUM
GOLD
EMC Insurance Companies Grinnell Mutual Reinsurance The IMT Group Independent Agents Service Corporation Motorists Insurance Group Nationwide Insurance Progressive United Fire Group
AAA Minnesota/Iowa Continental Western Insurance Co.
S I LV E R Farmers Mutual Hail Great American Insurance Companies GuideOne Insurance LeMars Insurance Company Merchants Bonding Company Partners Mutual Insurance Company Pekin Insurance QBE/NAU
BRONZE Accident Fund/United Heartland Acuity Auto-Owners Insurance Columbia Insurance Group Diversified Crop Insurance Services Hastings Mutual Insurance Co. International Ag Insurance Solutions Markel Corporation M.J. Kelly Company of Iowa
North Star Mutual Insurance Co. ProAg Rain & Hail Insurance Services Inc. SECURA Insurance Selective Insurance Company SFM Mutual Society Insurance State Auto Insurance Co. West Bend Mutual Insurance Co.
Western National Insurance Westfield Insurance
Independent
Insurance Agents of Iowa