GREEN MOUNTAIN AGENT VERMONT INSURANCE AGENTS ASSOCIATION | FEBRUARY 2020
It's Insurance Careers Month! Vermont Insurance Agents Association is a statewide trade association representing nearly 100 independent insurance agencies in Vermont, with more than 900 employees. VIAA member independent insurance agents represent more than one insurance company, and as a result, can offer clients a wider choice of auto, home, business, life and employee benefits.t
Green Mountain Agent is a publication of
CONTENT ________________ February 2020
04 Letter from the President
600 Blair Park Road, Suite 100 Williston, VT 05495 Phone: 802-229-5884 Fax: 802-876-7912 www.viaa.org
VIAA Officers President Alan K. Kinney Vice President Dan Rodliff Secretary/Treasurer Michael Barrett National Director Ron Bixby
09 Knowledge
12 Young Agents 15 On the Hill 16 NewsFlash 22 E&O Corner 24 Feature: Recruitment
Directors Chip Ams Erin Odell, CIC Paul Plunkett Jessica Fleury Ex-Officio Staff Executive Director Mary Eversole mary@viaa.org
28 Feature: Recruitment 32 Insurance Commentary 38 Company/Agency News
LETTER FROM THE PRESIDENT ______________________________ February 2020
February is a month to be excited about – it’s Insurance Career Month! That’s right, carriers, state associations and other stakeholders are banding together to promote careers in insurance in February and you can too! Throughout the month of February, use your social media and website regularly to post about your agency and the work you do. We’re a great industry and we want to get the word out! This month’s magazine features various articles relating to careers in insurance. I think you will find them informative and enlightening and can give you some good insights on future generations. Just a reminder about the great new member benefit – FREE ACORD Forms. If you haven’t learned about this yet, take a minute to see the savings you will earn just for being a VIAA members! Go to viaa.org/ACORD to learn more! As always, the VIAA Board of Directors and staff are here for you. Please contact the office if we can do anything to assist you.
Alan Kinney VIAA President
DON’T JUST STAND THERE… DO SOMETHING By Neil Lenane
KNOWLEDGE
After participating in a recent InVEST Program panel discussion, I was more convinced than ever that when it comes to talent, we need to act if we expect our industry to thrive and prepare for the future. We need to make a strong effort to attract and retain new talent in insurance. According to InVEST, a national program that educates high school and college students on insurance, 400,000 insurance jobs will open up in the next five years. That’s driven in large part by the fact that more people are leaving our industry than coming in, as well as a perceived growing lack of knowledge and interest in insurance overall. It’s compounded by the fast pace of technology, the increased sophistication of customers who demand more from their insurance company, and the unfortunate “halo effect” that leaves potential talent believing that our industry is boring or lacks diversity. The issues with competing for top talent present themselves in several ways. You begin to notice that your open roles aren’t being filled as quickly as they once were. In some instances, specialty roles such as actuaries, analysts, and developers are in short supply, and our industry is struggling to fill them over the long haul. It becomes even more dire when you begin to make decisions about what work you can’t take on or what projects you can’t move forward because you either lack the needed skill sets or qualified new employees to tackle them. And the real disappointment is when that ripple effect ultimately reaches your customer experience.
If you’re not placing talent in open roles, then you’re not driving your strategic business initiatives, and you’re going to lose customers.— Have I grabbed your attention yet? Help Overcome the Misconceptions Ask yourself: “Are we doing all we can as a company — as a recruitment brand — to effectively market our jobs to talent?” Our industry is far from being boring, so it’s up to us to show people what it’s really like to work in insurance. That includes highlighting our unique company culture, spreading the word about the breadth of career opportunities we offer, and sharing stories of successful innovations. There’s a myriad of ways to do that, and (of course) effective marketing strategies differ from company to company. Go Beyond Your Own Walls One way to increase our talent pipeline is to raise awareness among younger generations and non-traditional talent about the career opportunities we offer. Go right to the source — local high schools, community colleges, nearby universities,
Don't Just Stand There Continued and community-based groups that represent diverse populations. For example, you can take a grass-roots approach and empower your employees to share their knowledge. We do that at Progressive through our STEM Progress Program® where our people go into local classrooms to present lessons based on STEM skills used in insurance. Or you can partner with an outside group that’s already acting to effect the change we need. The InVEST Program is a very good example of such an organization, and many in our industry — including myself — are involved with the work they’re doing to attract younger generations. In both instances, what we’re doing isn’t going to result in hires tomorrow, but it plants seeds for the future. Choose what feels right for you… and then move on it. Think Creatively When looking at potential candidates, don’t limit yourself to the traditional experience
you’ve always looked for. Be open minded about skills that, while gained through a degree or industry you may not have considered in the past, might transfer well into your roles. You must look for that potential and train those in your hiring roles to do the same. We’re all in this together — it’s on us to make sure younger generations, as well as non-traditional insurance and displaced talent, know about and get excited about the career opportunities we offer. If we work collectively, we can lift our industry up… and start winning the battle for top talent. Neil Lenane leads the Talent Acquisition Group at Progressive Insurance. He strives to find diverse and quality talent who thrive in a high performing, collaborative, and innovative culture. In addition, Neil is a GSD (Get Stuff Done) type-of-guy and a big believer in creating your own opportunities through continued development and the desire and ability to be agile.
YOUR YOUNG AGENTS COMMITTEE
Chair Kody Lyon, AAI, CPIA Kinney Insurance
I joined the YACs in 2015 after being in the industry for just eight months. I knew this was going to be a great way of connecting with other young professionals like myself who were also new to the industry. I started off my career as a producer and am now doing my dream job as the marketing and business development manager for Kinney Insurance. I see myself growing exponentially in this position and hope to grow and manage a full team in the future. This year our goal as leadership is to focus on the future, meaning we will put our time and energy into growing the InVest programs here in the state and get new schools on board for the 2020-2021 school year.
I decided to join the YACs due to my current relationship with current members. Their motivation and passion for the YACs was the deciding factor. I want to continue growing in the insurance industry and showing other young agents the endless opportunities that this industry has to offer. I want to help grow participation and to really show other young professionals why the Vermont YAC was awarded Best Break Through YAC at the 2019 Big I Fall Leadership conference.
Co-Chair Sara Berry, AAI Hickock & Boardman
Secretary/Treasurer Katie Andrews, CPIA The Richards Group
Mary Eversole would ask me at every class that I took at the VIAA. She would bring to my attention the aspirations that she and the YACs had and how we as a young people could change the industry and help other young professionals, and the industry as a whole, grow and learn. I am always striving for more. Whether it is furthering my career as a young agent or as a young professional. I want to learn and take in as much as I can about this industry as there are so many avenues and career options. I am hoping to attend the Legislative Conference again this year to have the chance to bring our concerns and wishes for the industry to the people who can help make the change with us. I want to help other young professionals realize what a wonderful and large industry this is and that with hard work and dedication you can work your way as far as you want.
I joined YACs for the opportunity to recruit others to the insurance industry, increase my insurance knowledge, network and give back to the community. As I continue developing in my current position, I’d like to improve my sales management skills and help Hickok & Boardman grow. I also want to educate others about the variety of careers within the insurance industry. This year I plan to focus on expanding the VT InVEST program. We recently signed up one school and hope to add more in 2020. Outreach/InVEST Coordinator Ian Sutherland, CIC, AAI-M Hickock & Boardman
Joining the YACs was an opportunity for me to make more connections and to be part of something more within the insurance industry. I want to continue to improve and grow my career and knowledge. Insurance is ever changing and is an industry that keeps you on your toes. Kinney Pike has such a strong team and I am happy to be a part of it! This year I hope to increase the outreach to current and possible new members and help our team achieve their goals. Communications Coordinator Jessica Saladino, CISR Kinney Pike Insurance
I joined the YACs for the opportunity to help improve and be a bigger part the insurance industry with like-minded people who want to do the same. In the future, I am hoping to be a leader within S&H Underwriters and continue to strengthen my insurance knowledge through education and learning from my peers. In 2020 I hope to see our engagement with state legislature help us to gain interest and increase the involvement in our Legislative committee.
Legislative Coordinator Chris Hull S&H Underwriters
ON THE HILL: Big ‘I’ Lobbying Victory Makes Insurance Journal Most-Read List
An article on a major Big “I" legislative win made the Insurance Journal's Top 10 National Stories of 2019, taking the No. 2 spot. The article details the significant tax deduction victory for Big “I" member agencies. Since the passage of the 2017 tax reform law, the Big “I" had aggressively advocated before Congress and the Trump Administration to ensure that insurance agencies and brokerages organized as pass-through entities fully benefit from the tax reform.
The win was just one of numerous key Big “I" lobbying victories last year. With 2019 in the books, the government affairs team looks toward 2020 and the continued work to be done on behalf of independent agents.
NEWSFLASH DFR’s 2019 consumer protection activity results in $5.3 million for Vermonters The Vermont Department of Financial Regulation (DFR) announced a summary of its 2019 consumer protection activity within Vermont’s insurance, banking, and securities industries. During the year, DFR received over 3,000 consumer inquiries resulting in 457 formal complaints against financial services firms. Investigations into these complaints, and subsequent enforcement actions, resulted in DFR ordering $2,734,493 be paid to consumers in financial restitution and an additional $2,640,400 be paid in financial penalties. This represents a 32 percent increase in penalties and restitution compared to the previous year.
Commissioner Michael Pieciak applauded the efforts of the DFR staff who achieved these results. “Our department’s central mission is to protect Vermont consumers when they entrust their financial futures to the firms doing business in our state,” Pieciak said. “Consumers, as well as our economy, benefit when they have trust and confidence in our financial marketplaces.” Vermont Governor Phil Scott thanked DFR for protecting Vermont consumers. “In our work to best serve Vermonters, the Department’s consumer protection efforts are incredibly important in ensuring every Vermonter is treated fairly and that there is
accountability in the market,” said Governor Phil Scott. “I commend DFR’s good work this past year in both protecting Vermont consumers and making them financially whole when they have been wronged.” In 2019, most consumer complaints were against out-of-state companies totaling 79 percent of all complaints received. The product that received the highest percentage of complaints was auto insurance at 37 percent, followed by health insurance at 24 percent, homeowner insurance at 15 percent and life insurance at 13 percent. Across all product types, Vermonters most often complained about how their claims were being handled at 68 percent, followed by the level of service received at 15 percent and underwriting or pricing at 12 percent. Governor Scott and Commissioner Pieciak praised the work of DFR’s consumer services team, especially the leadership of consumer services chief Brenda Clark, and both encouraged Vermonters to contact DFR with any questions or concerns about their financial products or professionals. DFR’s consumer services team can be reached by phone at 1-833-DFR-HOTLINE or at www.dfr.vermont.gov/consumers
C E O & R O N ER
Why Adding Verbiage to COIs Could be a Big Mistake By Bill Wilson
After reading through the extensive information available in the Big “I” Virtual University (VU) regarding certificates of insurance, an agent understands that including actual endorsements with certificates is a best practice. But the agent wonders about using a tactic that differs from the recommendation to include the actual endorsement for all additional insureds —is it acceptable to state “XYZ is an additional insured as respects general liability as respects premises leased to Named Insured if required by written contract”? Q: "If so, do you have any suggestions on how you would do that efficiently at renewal when the agency management systems are set up to issue large volumes of renewal certificates at one time? It creates a second step—getting the actual endorsement and physically attaching it to the many renewal certificates." A: “We often must balance business decisions with E&O considerations. Whenever you add verbiage to a certificate, you open it up to misinterpretation. For instance, your example: “XYZ is an additional insured as respects general liability as respects
premises leased to Named Insured if required by written contract.” Exactly what does the written contract require? For example, many proprietary company AI endorsements only provide vicarious liability. Some provide coverage on an excess basis. What if the contract specifically requires XYZ to be covered for direct liability on a ‘primary and noncontributory’ basis? Then XYZ is not afforded the degree of AI status ‘required by written contract.’ On the other hand, if you simply provide the actual AI endorsement, you transfer all responsibility to XYZ to determine if it complies with XYZ's contract. Again, you may want to balance the likelihood of an astute attorney twisting the wording you put on a certificate with the cost of providing the AI endorsement.”
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Why Agencies Need to Promote Opportunities for Young People
recruitment
By Robert Pettinicchi
All of the economic data suggests that the economy is going great and we are nearly at full employment. At the same time, there is anecdotal evidence that the current generation of young workers will not end up as wealthy as the previous generation. Why is this the case?
senior seeking employment where all the on-campus interviews in the insurance industry were for jobs selling life insurance. For many young adults, it is still the case, and there is the perception that the readily available positions are only in this unappealing segment.
While job opportunities are plenty, the quality of employment in the white-collar sector—other than for graduates of the best business schools—appears to be weak. The opportunities for young employees to work toward earning a sixfigure income are very limited, except in the insurance agency and brokerage space—and few people are aware of this.
Two other thoughts come to mind from my youth. The first is the memory of a “debit man” coming to our door to collect money from my grandmother for her life insurance policy. The second is a scene from a Woody Allen movie where a prisoner, who did not behave while incarcerated, had to spend time in solitary confinement with a life insurance salesperson, truly a grave punishment.
Clearly, there is a perception problem that the insurance distribution industry has yet to overcome. In my view, it’s because the insurance brokerage industry doesn’t do a good job of promoting itself to young workers. I think back to my experience as a college
Many years later, I discovered that the property-casualty brokerage space is markedly different than the life insurance space, and the property-casualty field is full of young people who are engaged in the industry, often because of a family connection.
Why Agencies Need to Promote Opportunities for Young People continued In p-c, I’ve met more “juniors” and “thirds” carrying their family name than I can count. All of them affirmed that while an insurance career is usually off the radar screen for most college students, they were grateful to be in a career that provided a good lifestyle with the flexibility and autonomy provided by a healthy income. Oh, and by the way, there are ownership opportunities, the income is recurring and the product being distributed is a necessity and practically recession-proof—not too shabby! The positive attributes of the insurance brokerage field are almost too numerous to mention, but it appears that they are not being mentioned, even a little. The industry needs to do a better job of communicating these opportunities to young, career-seeking adults. Agency principals can’t just rely on family to both populate and perpetuate their agencies. Owners need to reach out to the local college or business school, start internship programs, connect with leadership in insurance-specific college fraternities and simply let younger folks know that their dreams and aspirations may be more attainable with a career in insurance. Robert Pettinicchi is the executive vice president and chief lending officer for InsurBanc. A division of Connecticut Community Bank, N.A., InsurBanc is a community-focused commercial bank specializing in products and services for independent insurance agencies.
Bye-Bye Boomers:
InVEST®, Applied Systems Offer Gen Z Recruitment Insight By Will Jones
recruitment
Born between 1997 to the present, Generation Z represents a quarter of the U.S. population and are soon expected to outnumber millennials. To gain insight into how Gen Z feels about insurance careers, Applied Systems collaborated with InVEST® on a survey of this post-millennial generation. The study, The Future of Insurance: ByeBye Boomers, Hello Digital Natives, surveyed over 400 Gen Z consumers and compared their responses to the results of a similar survey with millennials in 2015. The findings show Gen Z’s awareness of career opportunities within the insurance industry and their outlook on pursuing work in this field. “This research is crucial to our industry,” says Deborah Pickford, executive director, InVEST. “We know that within the next few years, there will be at least 400,000 open jobs in the insurance field. That’s a lot of jobs to fill.” Studies like Bye-Bye Boomers, Hello Digital Natives can help the insurance industry attract the next generation of insurance professionals. “If we can better understand what attracts, motivates and retains Gen Z workers, we have a chance at filling this talent gap,” Pickford says. “By gaining their insights, we can communicate better about the great opportunities in our industry and appeal to a young professional’s desire to make the world a better place through their work.” To attract Gen Z to insurance careers, the survey implores employers to reimagine
To attract Gen Z to insurance careers, the survey implores employers to reimagine their traditional business practices, provide greater flexibility in the workplace and align themselves with Gen Z values. This will go a long way in convincing young people that insurance is an innovative and rewarding career, the study found. “The most important takeaway from the Gen Z study is that insurance agencies need to rethink traditional business practices to attract this younger generation,” says Kris Hackney, executive vice president of Customer Experience at Applied Systems. “With more than 25% of professionals retiring by 2020, it is crucial to understand how to recruit and retain the next generation of workers.” Gen Z is the first generation to be true digital and social natives. They were the first generation born into the use of social media, internet and mobile technology simultaneously. Therefore, it is not
Bye Bye Boomers continued surprising that 58% of Gen Z consider innovation at a company they work for to be “very important.” But when evaluating career opportunities, most respondents considered “a job that aligns with personal interest” (44%) to be most important, followed by “income potential.” Also, Gen Z believes that working with mentors to help them define their career paths is important, with 61% considering it very important, while 65% said flexibility outside the office was also very important, according to the survey. Meanwhile, Gen Z wants to stay in a job for at least three years, signaling a desire for security and stability. “It is clear that insurance agencies need to incorporate flexibility into their business models to attract these workers,” Hackney says. “Key values from Gen Z respondents are similar to what we are seeing insurance consumers demand from their agents, such as being fast, transparent and flexible. Employers should be welcoming this next generation to drive digital transformation and customer satisfaction.” “Insurance agencies can leverage technology to attract and retain employees. Mobile apps to access agency information anytime, anywhere is also a valuable tool for the next generation,” Hackney continues. “Additionally, working within the cloud is crucial. Gen Z is used to mobile access to information in every other facet of their lives, so it is critical to enable this generation to work from anywhere.” As a considerable portion of the insurance workforce prepares to retire, there is still much to be done to recruit Gen Z. Only
14% of Gen Z respondents said they were interested in a career in insurance, while 39% said they were not, according to the survey. That means companies and insurance agencies need to adopt strategies as soon as possible to attract younger generations to an industry—which many young people view as boring— today. InVEST has been fighting this battle since its inception. The program reaches out to young people at a critical stage of career consideration, their formative high-school years, and works hard to highlight the variety of careers offered in the industry. The program works with a network of insurance professionals and volunteers to connect with students in the classroom and provide first-hand insight into the industry. “We know that younger people think our industry is ‘boring,' so it’s an uphill battle. But our main message truly is: ‘Whatever your interest, we have a career for you,’” Pickford adds. “We’ve been involved in some interesting projects to showcase insurance careers, including the College Agency Management Competition, and are currently developing a national insurance apprenticeship program so young people can ‘earn while they learn,’ which we believe will attract more Gen Z professionals to our industry.” Will Jones is IA senior editor.
Logic & Language, Forms & Facts: The Unimpeachable Case of the Word ‘Are’
William C. Wilson, Jr. CPCU, ARM, AIM, AMM is the founder of InsuranceCommentary.com. He retired from the Independent Insurance Agents & Brokers of America in December 2016 where he served as Assoc. VP of Education and Research and was the founder and Director of the Big "I" Virtual University for over 17 years.
Logic & Language, Forms & Facts: The Unimpeachable Case of the Word ‘Are’ At the time I’m writing this first installment, there is an impending presidential impeachment. It may or may not be a reality by the time you read this. The last time a U.S. president was impeached was 1998 when President Clinton made the statement, “It depends on what the meaning of the word ‘is’ is….” So, what relevance does this have to an apolitical insurance claim? One claim dispute I was involved with I refer to in seminars as “The Unimpeachable Case of What ‘Are’ Is.” It illustrates how a single word, even the tense of a verb, in a policy form can make all the difference in whether a claim is covered. A plastics extrusion manufacturer contracted with various product developers to manufacture their products. The firm’s marketing vice president had the idea to take a construction trailer and build a scale model of the extrusion process inside it. The trailer would then be hauled to various conventions and trade shows around the country and set up in the parking lot of the venue so that attendees could tour the model. The idea was that a driver/operator and sales rep would travel to potentially dozens of conventions annually. The reality, though, after a year’s period of time, was that the trailer was off the manufacturer’s premises only once for a period of about three days for a local trade show. While the trailer was on the manufacturer’s premises, it was vandalized to the tune of $12,362.62 in damages. The manufacturer’s insurance program included commercial auto insurance, but no physical damage coverage was provided on the trailer. The insured
sought coverage under its commercial property coverage, specifically the ISO CP 00 10 Building and Personal Property Coverage Form with a CP 10 30 Special Causes of Loss form attached. However, when the claim was submitted, the adjuster denied it. While the peril of vandalism was covered, the adjuster argued that the vehicle itself was not covered property, citing the following exclusionary language in the CP 00 10: Property Not Covered Vehicles or self-propelled machines (including aircraft or watercraft) that: (1) Are licensed for use on public roads; or (2) Are operated principally away from the described premises. So, there is no coverage for the trailer if it is either licensed for use on public roads or operated principally away from the premises. The key word in this exclusionary provision is the word “Are.” Let’s examine each of the
Logic & Language continued two conditions, starting with the first one. In the state where the vehicle was towed the one time it was off the premises, the law required the trailer to be licensed. The problem is, the trailer was not licensed. It’s not clear why it wasn’t licensed, but it was an inarguable fact that it wasn’t. Note that the exclusionary language applies to vehicles that “Are” licensed for use on public roads. To repeat, it wasn’t. The adjuster’s response was, “Yeah, but it was supposed to be.” If that’s the case, then the policy language should have said something like “Are licensed, or required by law to be licensed, for use on public roads.” I just happened to be writing a homeowners article at the time this claim came to my attention and pointed out to the adjuster that the ISO HO-3 policy excludes motor vehicle liability coverage if an otherwise covered vehicle: “Is not registered for use on public roads or property, but such registration is required by a law or regulation issued by a government agency, for it to be used at the place of the ‘occurrence’….” The HO-3 policy also excludes coverage for bodily injury: “To any person eligible to receive benefits voluntarily provided or required to be provided under any… Workers’ compensation law….” The “required by law to be provided” type of language could certainly have been used in ISO’s CP 00 10 form, but it wasn’t. The exclusionary language unambiguously applies only to vehicles that “Are” licensed for use on public roads. In the case of the second condition, the argument for coverage was that the vehicle was not operated principally away from the described premises. While the word
“principally” is subjective, the argument is strong that being off the premises 3 days out of the past 365 days is not principally away from the premises. If a vehicle remains on the premises over 99% of the time, it’s a reasonable presumption that it is operated principally on the premises. In fact, if you consider the word “operated,” it really wasn’t “operated” at all. It just sat there. And the exclusionary language applies to “operation.” Based on the arguments made above, the adjuster, to his credit, paid the claim. It’s likely that the policy form really isn’t intended to cover an exposure like this, but that doesn’t mean it’s not covered. If the intent is truly not to cover this type of property, then the remedy for this situation is to revise the form language to reflect that intent. So, what is the primary learning point from this real-life case study? It illustrates how coverage can hinge on the meaning and context of one word (and, in this case, the tense of a verb), as well as the unique facts and circumstances of each claim. To illustrate that point with a policy provision unrelated to the case study in question, here are excerpts from the definition of “coverage territory” in, respectively, an ISO and a nonISO proprietary general liability policy [emphasis added]: “Coverage territory” means…All other parts of the world if the injury or damage arises out of…Goods or services made or sold by you in the territory described in a. above; One word. These definitions are identical except for one word. But it’s easy to see how vastly more restrictive the second definition is for someone with an international products liability exposure. Unless this difference was pointed out, would the typical insured catch this? Not a chance.
COMPANY & AGENCY NEWS
Vermont Mutual Rated A+ Superior by A.M. Best Company A.M. Best, the global rating agency for the insurance industry, has affirmed the rating of A+ (Superior) for Vermont Mutual and its two fully reinsured subsidiaries, Northern Security Insurance Company, Inc. and Granite Mutual Insurance Company. A.M. Best’s Financial Strength Rating is an independent appraisal of an insurer’s financial strength and their ability to meet policy and contract obligations. The internationally recognized rating is the result of a comprehensive examination of a company’s finances and operations. A.M. Best acknowledged Vermont Mutual’s very strong Balance Sheet, their strong Operating Performance, favorable Business Profile and appropriate Enterprise Risk Management in its assessment of the company’s operations and results. Vermont Mutual’s President and CEO, Dan Bridge, stated “As an A+ rated insurer, Vermont Mutual finds itself in a select group of high performing companies in the insurance industry. To remain at this level requires a dedicated team of talented people, working together to be the very best. I am both proud and appreciative of the efforts of our employees, directors, agents and business partners that have resulted in this A.M. Best A+ rating and the improved financial stability for our policyholders.” Executive Vice President & COO, Mark McDonnell, added “We are grateful, not only for this recognition by A.M. Best, but also for the financial results that support the A+ rating and allow us to continue to invest in our organization and everyone who has a hand in our success. Our ability to focus on continuous improvement positions us well for a bright future.”
The Richards Group Named One of the 2020 Best Places to Work in Vermont The Richards Group was recently named one of the 2020 Best Places to Work in Vermont, an award created by Vermont Business Magazine, the Vermont Chamber of Commerce, the Vermont Department of Economic Development, the Vermont Department of Labor, and the Society for Human Resource Management (SHRM) – Vermont State Council and Best Companies Group. This statewide survey and awards program is designed to identify, recognize and honor the best places of employment in Vermont, benefiting the state's economy, its workforce and businesses. “A career at The Richards Group means working alongside exceptional people who care deeply about our customers and the communities we serve,” said Antonia Crawford, Human Resources Manager at The Richards Group. “Our employees are our most important asset and we continue to support not just their professional aspirations, but their personal ones as well. Initiatives like our wellness program, continuing education, practical resources and training, as well as healthy work-life balance and employee recognition are all essential to the success of the culture we have created here at TRG. Our values are rooted in providing a healthy and happy workplace where employees can thrive, and we are incredibly honored to have been recognized for the fifth consecutive year as one of the Best Places to Work.”
Acuity Achieves Record Revenue Growth in 2019 Fueled in part by a record-setting $277.5 million in new business in 2019, Acuity reached an all-time high in written premium in 2019 of $1.66 billion, an increase of more than $115 million over 2018. “We’ve now achieved 10 straight years of positive revenue growth. And, for the past 20 years, Acuity has consistently grown more than twice as fast as the insurance industry,” said Acuity President and CEO Ben Salzmann. “Our growth shows that Acuity is trusted wholeheartedly by more individuals, families, and businesses than ever before to protect what matters. It also shows that we are a strong, stable market for independent agents.” In just the past eight years, Acuity has doubled its top-line revenue. With Acuity’s unprecedented expansion came increased job opportunity. The insurer has hired over 900 employees over the past five years and nearly 200 in 2019 alone. Acuity has achieved balanced growth across personal and commercial lines and across its entire operating territory. In personal lines, Acuity reached nearly $410 million in written premium and achieved an incredible 23rd consecutive year of growth, and retention remained at an all-time high. In commercial lines, the insurer set a record for written premium at $1.25 billion and for quote requests at over 87,000. “Thank you to our dedicated agents and employees who provide the driving force behind our growth,” Salzmann said. “We are starting 2020 with remarkable momentum and look forward to the years ahead.”
Vermont Mutual Donates $11,200 to Make-A-Wish Vermont In 2019, Make-A-Wish Vermont received a donation from Vermont Mutual Insurance Group of $11,200 as part of the “Cats Win, Community Wins” initiative. The “Cats Win, Community Wins” program was formed by Vermont Mutual and the University of Vermont as a way to give back to local charitable organizations. As part of the multi-year agreement, Vermont Mutual donates $100 for every Catamount win to a local charity. For 2019, Catamount teams enjoyed 112 wins which resulted in the $11,200 donation to Make-A-Wish Vermont. This brings the 2019 total donations awarded through Vermont Mutual’s Charitable Giving Fund to $370,000 presented to over 170 worthy organizations. The check was presented at UVM’s Patrick Gymnasium during the January 8th Men’s Basketball game against Stony Brook. Dan Bridge, Vermont Mutual CEO, and Mark McDonnell, COO, presented the check to Jamie Hathaway, the President & CEO of Make-A-Wish Vermont. “Make-A-Wish Vermont and all the families in our program could not be more grateful to Vermont Mutual and UVM for making this gift possible,” said Hathaway. “Because of the Cats Win, Community Wins program, a boy with cancer got to have his wish come true to meet with sneaker designers at Nike in Oregon. Vermont Mutual gave that boy something to look forward to and gave his family memories they will cherish forever.” The 2020 beneficiary of the “Cats Win, Community Wins” program will be Spectrum Youth and Family Services. Spectrum empowers teenagers, young adults, and their families to make and sustain positive changes through prevention, intervention, and life skills services. Each year, they serve 1,500 teenagers and young adults in Vermont.
Union Mutual Announces Promotions The Union Mutual Companies recently announced the promotions of David Bussman, Anna Grearson, Sarah Jarvis and Schuyler Ryan. Bussman was named Assistant Vice President, Innovation; Grearson was named Director of Communications & Community Relations; Jarvis was appointed by the Board of Directors to become an officer of the Company as Vice President & General Counsel; and Ryan was named Assistant Vice President, Finance. “Our Companies and independent agency partners have experienced tremendous growth over the last few years and I am thrilled that we are able to recognize the efforts of our dedicated staff through continued expansion of their roles and responsibilities. These promotions will be an integral part of Union Mutual continuing to provide exemplary service to our insureds and agency partners,” Union Mutual President & CEO Michael Nobles said. The promotions were effective Jan. 1, 2020. Bussman, Grearson, and Jarvis are based in the insurance group’s Montpelier, Vermont office, while Ryan is based in the Troy, New York office. Bussman joined Union Mutual in 2011 as a Financial Analyst and has been the Director of Analytics and Programming Departments for the past year. Grearson joined Union Mutual in 2014 as the Executive & Communications Coordinator, and became the Assistant Corporate Secretary in 2019. Jarvis joined Union Mutual in 2018 as General Counsel and Human Resources Manager. Ryan joined Union Mutual as a Senior Accountant in 2014 and was most recently the Company’s Director of Accounting.