GMA December 2018 by VIAA

GREEN MOUNTAIN AGENT VERMONT INSURANCE AGENTS ASSOCIATION | DECEMBER 2018

From our association to your agency we wish you happy holidays and an exceptionally prosperous new year!

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.

Seasons May Change, But Our Commitment to the Independent Agent Channel Remains the Same...

ermont Mutual is proud to have served Vermont and the New England market through the longstanding partnership with our Independent Agents. It remains our privilege to work with the finest Independent Agencies in the industry … the only place you can buy a Vermont Mutual policy.

89 State Street, P.O. Box 188, Montpelier, VT 05601 | 800.451.5000 | VermontMutual.com 02

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Vermont Mutual is proud to sponsor the Vermont Insurance Agents Association’s new Education Center in Williston, Vermont.

Green Mountain Agent is a publication of

CONTENT DECEMBER 2018

04 600 Blair Park Road Suite 100 Williston, VT 05495 Phone: 802-229-5884 Fax: 802-876-7912 www.viaa.org VIAA Officers President Paul Plunkett, CIC Vice President Alan Kinney Secretary/Treasurer Dan Rodliff National Director Ron Bixby

Directors Chip Ams

Letter from the President

07 On the Hill

08 Opinion

14 Sales & Marketing

16 Young Agents News Brief

18 Knowledge

Michael Barrett

Erin Odell, CIC

E & O Corner

Staff Executive Director Mary Eversole mary@viaa.org

GMA Publication Design LONDONmiddlebury londonmiddlebury.com

29 Insurance Commentary

33 Company & Agency News

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LETTER FROM THE PRESIDENT DECEMBER 2018

Holiday Greetings! At VIAA we have much to celebrate as we look back at our many accomplishments during the past year. 2018 was a productive year at the association. Here are some highlights: • Divested of the former VIAA headquarters in Montpelier strengthening the Association’s cash reserves by 246%. • Received the Big I’s Excellence in Insurance Education (EIE) Diamond Award • Successfully advocated against “Strict Liability” legislation, which Governor Scott vetoed • YAC’s raised thousands of dollars for Make-AWish Vermont • Prepared hundreds of members for licensing renewal by offering new award-winning CE courses and designations To our members and partners who have made our progress possible, we extend our warmest wishes for a prosperous and peaceful New Year.

Paul E. Plunkett, CIC VIAA President

“Celebrate what you’ve accomplished, but raise the bar a little higher each time you succeed.” - Miaa Hamm

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Get to Know AmTrust. Visit d19.amtrustinsurance.com or call 877.215.7577 AmTrust is AmTrust Financial Services, Inc., located at 59 Maiden Lane, New York, NYNY 10038. Coverages areare provided by by its its property and AmTrust is AmTrust Financial Services, Inc., located at 59 Maiden Lane, New York, 10038. Coverages provided property and casualty insurance company affiliates. Consult thethe applicable policy forfor specific terms, conditions, limits and exclusions to coverage. casualty insurance company affiliates. Consult applicable policy specific terms, conditions, limits and exclusions to coverage.

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FSC “XV,” Stable Outlook FSC “XV,” Stable Outlook

ON THE HILL: WHAT DOES THE MIDTERM ELECTION MEAN FOR YOU? By Wyatt Stewart As the dust settles on the 2018 midterm election, agents across the country may be wondering how the new balance of power will affect their businesses and livelihoods. Democrats will now control the U.S. House of Representatives for the first time since 2010, resulting in new House leadership, new House Committee chairs and new policy priorities. Republicans will remain in control of the U.S. Senate with an expanded majority, meaning some of the current chairs and leadership positions will remain the same. The new dynamic between House Democrats and Senate Republicans (and the Trump Administration), will certainly change legislative priorities and expectations moving forward. For the insurance industry and the Big “I” in particular, the new balance of power in Congress will likely end up being a mixed bag. Perhaps one of the biggest anticipated changes as a result of the election is that the Democratic-controlled House of Representatives will take an aggressive stance on oversight and investigations of the Trump Administration. This could include significant oversight of the Administration’s broader deregulation agenda, which could slow down or alter certain business-friendly initiatives. The change in Congress could also have an impact on one of the top priorities of the Big “I”—reauthorizing the National Flood Insurance Program (NFIP). While some Republicans remain skeptical of the NFIP, Democrats in the House generally support the federal program. This dynamic could make it easier to obtain a long-term NFIP reauthorization— something that has not occurred since 2012. However, Democrat control of the House could make it more difficult to close the flood insurance coverage gap—a Big “I” goal—with some Democrats skeptical of increasing private market involvement.

tives is data security. While House Republicans released legislation earlier this year that included some positives and some negatives, Democrats are expected to be more aggressive and perhaps tougher on the financial industry as a whole with any proposal. One issue where the Big “I” doesn’t expect a significant change is the Terrorism Risk Insurance Program (TRIP). The program has had bipartisan support in the past and, unlike the NFIP, it is a reinsurance program as opposed to a primary insurance program. While Congress will surely consider potential reforms to TRIP, the program is expected to maintain support. Similarly, the change in control likely won’t have a large impact on the Federal Crop Insurance Program (FCIP), since congressional support for the FCIP largely breaks along geographical lines. The FCIP will continue to garner support from traditional farming states, regardless of which party controls those seats. Finally, the change in the House will significantly decrease the potential for any sort of second round of tax reform, including making the 20% small business tax deduction permanent. While it is impossible to predict exactly what any new Congress will do, this week’s power shift offers both opportunities and risks. Rest assured that the bipartisan Big “I” federal government affairs team is well prepared to advocate on behalf of independent agents in a divided government. Wyatt Stewart is Big “I” senior director of federal government affairs counsel.

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YOU ARE A SALESPERSON… WHETHER YOU LIKE IT OR NOT! By Nicak Lamparelli “You will get all you want in life, if you help enough other people get what they want.” -Zig Ziglar Most of us spend most of our lives asking for things. More money. A job (a promotion).

OPINION

A date (a marriage).

The list of things we ask for is almost endless when you think about it, isn’t it? And yet, after many thousands of years of evolution, our brains still cannot shake our instinct to unsubtly take what we want, even if it requires force. Our ability to exchange things peacefully and create lasting mutual wealth is a relatively new phenomenon. Our ability to persuade others to give us things we want is not innate. We are born kicking, screaming and demanding. And while that is an effective survival trait for a newborn, that act gets

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pretty old, pretty quickly. Our ability to persuade or sell others is a learned skill; we are not born with it. This article will not teach you how to sell (I have listed several resources below that can help you with that). The goal of this article, I hope, is to persuade you to take your selling skills more seriously by convincing you that: 1. You are a salesperson, 2. That the success of your life and career ultimately depends on your ability to persuade others and 3. Give you some personal rules of thumb to help you become a better persuader. The Persuader’s Toolkit If you have read this far, you likely acknowledge that being a good persuader is valuable. I consider the ability to persuade or sell to be one of the two most valuable skills you can have in business. Let’s face it, few people can continuously move big things, whether it’s selling a lot of product or being able to align the politics of an organization to get new initiatives through. Here is a list of skills you will need to develop to become one of those people:

1. Listening skills:

we do and how we do it. BORRRRING!

Zig Ziglar’s quote at the beginning of this article is gospel as far as I am concerned. In over 20 years of business experience, I know it to be fact. And if you are going to help others get what they want, you have to know what they want. Which means you have to listen closely for their explicit and implicit signals.

Those questions should have already been researched in advance. And even when we get past those questions, this pitch is doomed, because I, the buyer, would need to rescue them by connecting their product with a potential solution I need. As these boys pitched me, the only thing I kept thinking was, “these guys need a professional salesperson to handle this part.” I see this more often than not. If you’ve built a great product, don’t ruin it with a crappy presentation. Learn how to position your product or yourself with thoughtful and strategic questioning. I still use the Spin Selling Fieldbook (see additional resources below)today to help me step through the process of developing a gameplan when it comes to questioning.

Listening, by far, this is the one skill I have tried to master and failed time and again. I know what I am supposed to do, I know how and why I am supposed to do it, but I have not trained myself to become the type of listener I wish I could become, both professionally and personally. In those moments, where I finally become an effective listener, I have noticed that my effectiveness boils down to one thing: being less selfish. When it’s not about me but all about them, I learn a lot more about them, my trust factor goes up, and I become better at anticipating what I can do to help them.

3. Don’t put all your eggs in one basket:

2. Questioning skills: To be a better listener and persuader requires you to become a better questioner. Like a good lawyer or a good doctor, strong questions can uncover hidden issues. Strong questions can make you consider other options or see things in a way that may removes your confirmation bias. Like listening, I am willing to wager that most people think they are competent at questioning. How hard can it be to ask questions, right? But therein lies the rub. If you are trying to persuade, you must walk a fine line between asking questions to learn and discover and just being annoying. I recently went in for a doctor’s visit. Even though I have been there before and even though my medical history can be found on both paper and digital files, I feel like each visit is the first one for me. They ask me a bunch of questions that I have to re-answer each and every time I go . If you aren’t structured in your questioning, you come across as amateurish. Recently, a company came to my office to deliver a pitch of their product. Within 5 minutes I am being bombarded with basic questions such as the size of the company, what

Always have a plan B (C,D,E…). Always have multiple prospects lined up. The most infamous sales scene ever is the “Always Be Closing” (ABC) scene from Glengarry Glen Ross (language warning). I personally think “ABC” should be changed to ABP; Always Be Prospecting. If you are in direct sales, you should be filling your funnel with new, potential prospects every chance you can. But even if you aren’t in direct sales, you should also be filling your funnel with opportunities. You should be planting the seeds for your next job now. You should be working on next year’s bonus today. You should be establishing the network that you will need in the future, yesterday. This takes a lot of work. But those seeds will pay off down the road. And this is why salespeople generally make the most money. It is because they are willing to do and develop skill sets to execute on things that other just will not do. W W W.V I A A .O R G

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4. Give yourself plenty of lead time:

to minimize it from happening.

Is there anything worse than when someone connects with you on LinkedIn and immediately start messaging you about some opportunity they want to share? It is such a turnoff. If you are waiting until your annual review to ask for a promotion or a raise, then you are doing it all wrong.

Ultimately, to be a good at selling anything including yourself, you must be trustworthy. Think of it this way, can you expect anyone to give you anything such as money, a job or a promotion if you are untrustworthy? Of course not. In summary, if you want to be good at selling things, you should focus on trust. Everything you do, everything about you must exude trust. I discussed trust here in this article, and I think it is worthwhile for anyone reading this, to go back and study what it means to be trustworthy!

In my opinion, from years of experience of trying to be successful and seeing how others have done it, when you know you will be asking for something big, the biggest risk by far is time. You need as much time as necessary to set your pins up correctly. Getting to “yes” is a natural process where you must plant your seeds and give them enough time and nourishment to sprout before you harvest them. If you are planting your seeds in late summer, then don’t expect much to harvest. Desperation reeks. If the person on the other side of you senses desperation, it will turn them off and lower your trustworthiness. Give yourself plenty of time to build your case.

5. Develop a thick skin: Be persistent. The best hitters in baseball fail more than 60% of the time. More often than not, you will NOT get the promotion, bonus, date, funding, or sale. What do you do then? Do you quit or do you dust yourself off and get back into the action? Rejection sucks. It sucks for everyone. Some of the best salespeople I know brush it off and use mental memes to distract them from this rejection. My opinion is: use whatever works. Accept rejections and learn to overcome them. Learn to anticipate rejection and develop a strategy

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The 12 of

DAYS

Never use lighted candles near trees or boughs

SAFETY 2

Keep poisonous plants out of reach of children and pets

Choose an artificial tree that is labeled fire resistant

Turn off all tree lights and decorations when not in use

When preparing a meal, wash hands, utensils, sink and anything else that touches raw meat 12

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Keep trees away from fireplaces, radiators and other heat sources

If using a natural tree, make sure it is well watered

When putting up decorations, use a step stool or ladder to reach high places

Reheat leftovers to at least 165˚F

6 9 12

Make sure your tree has a stable platform

1 4 7

Check holiday lights for fraying, bare spots, gaps in the insulation or excessive kinking in the wire

Designate a sober driver

Happy Holidays

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Set the tone to sell.

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SALES & MARKETING

14 WAYS TO AVOID LOSING CUSTOMERS TO COMPETITORS by John Graham

John Graham of GrahamComm is a marketing and sales strategy consultant and business writer. You’ll often hear a salesperson say, “We service the heck out of our customers. They’ll never leave us.” But then a competitor walks away with an account—and no one saw it coming. Think about it this way: When you buy a new car, it’s just what you wanted. But after a year or so, you start thinking about newer models. That’s when little things about your current car start bugging you—it doesn’t have this or that, there’s a squeak, the technology is outdated. Before you know it, you’re back in the showroom. It’s no different with customers. When competitors come calling, your clients are ripe for the picking. All of a sudden, the list of little things that have been festering over time is a little too long, and before you know it, you’ve been replaced. Here are 14 ways to prevent it from happening: 1) Keep your word. Little insults accumulate in a customer’s mind, tolerated and quietly dormant until something triggers a reaction. “I’ll call you back about that,” but you forgot. “I’ll get on it right now,” but you didn’t. They’re minor irritations, but over time, they become a big issue. That’s when the competitor arrives. 2) Meet deadlines. You knew the due date well in advance, but end up saying, “Sorry, Susan, would it be OK if I got that to you tomorrow?” If it happens once, it’s understandable. Twice, it’s seen as a pattern. 3) Exhibit self-confidence. Few things raise

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red flags faster than those who come across as wishy-washy or unsure of themselves. 4) Be a resource. Keep your antennae tuned for ideas that may be of interest to customers, and remember to pass them along. It’s not only helpful, but also a way to let them know you’re thinking of them. 5) Get more organized. Smart salespeople know the value of being organized. Intuitively, they recognize that getting customers what they need quickly gives them a reputation as someone clients can count on. 6) Don’t talk about yourself. Understandably, salespeople want to impress their customers. But sometimes, they try too hard. It’s not what customers want to hear. 7) Ask questions. How many times do salespeople need to be reminded that telling isn’t selling? Just remember, asking questions is always best—it gives prospects a chance to talk about themselves and what they do. 8) Be attentive. Salespeople understand the danger of ignoring customers. Customers notice subtle changes in how much you pay attention to them.

essential in sales, a little pessimism can be equally useful. The element of doubt will help you spot potential problems before disaster strikes. 12) Listen intently. We all find ourselves thinking, “What did I just read? I can’t remember a word!” Our eyes were moving across the page, but we were thinking about something else. It’s the same with listening during sales situations. The customer is talking, but instead of listening, we’re thinking about what we’re going to say next. Avoid this by taking notes to capture what the customer is saying. Besides ensuring that you’re getting their message, you’ll show your customers you’re focused on them.

9) Be on time. Keeping customers waiting for any length of time is dangerous. Some may think calling or texting that you’re running late lets you off the hook, but it doesn’t cut it. Even customers who don’t say anything may feel differently. Being late might be overlooked, but it’s never forgotten. 10) Respond rapidly. Customers have their own perception of “quick,” and it’s not necessarily the same as yours. It seems tough, but a good rule of thumb is to aim to respond to phone calls and emails within an hour. This includes simply letting someone know you received their message and when you will get back to them. 11) Anticipate problems. While optimism is

13) Write simply. The goal is to make everything you write as easy to read as possible. Some suggest shooting for a third-grade reading level. Don’t laugh—it requires skill to communicate with that level of clarity. A fifth- or seventh-grade level also works well for capturing and holding attention. In Microsoft Word, you can score your memos, emails, white papers, proposals and other messages by selecting Tools, then Spelling and Grammar. This article, for example, has a Flesch Readability Ease score of 66.8—fairly easy—along with a grade level of 6.8. 14) Express appreciation. Letting customers know you appreciate their business goes without saying—they like knowing you care. But while tickets to sporting events, gifts, meals at popular restaurants, or contributions to a customer’s favorite charity are thoughtful, they’re poor substitutes for consistent top performance. Top-quality service is what justifies relationships.

You work hard getting new accounts, you take servicing them seriously, and still, they leave. Why? W W W.V I A A .O R G

YOUNG AGENTS

NEWS BRIEF

VERMONT YOUNG AGENTS ANNUAL MEETING The Vermont YACS met last month in Montpelier for their Annual Meeting. Mark McDonnell, EVP and COO of Vermont Mutual Insurance Group, addressed the group during lunch and stressed the importance of the young agents and attracting new talent to the industry. Talent Rebellion was the keynote speaker and provided tools for the YACS to differentiate themselves in the marketplace and agency. John Hollar, VIAA Lobbyist, provided a legislative preview for 2019, including the re-introduction of Strict Liability Legislation this session. The leadership team for 2019 was selected as well: Kody Lyon, Chair, NFP; Forrest Oberst, Co-Chair, Liberty Mutual; Ian Sutherland, Secretary/Treasurer, Hickok & Boardman; Kelly Schavone, Outreach/InVest Coordinator, Jamieson Insurance; Katie Andrews, Communications Coordinator, The Richards Group; and Past Chair Aislyn Allen, Jamieson Insurance. Many thanks to Vermont Mutual Insurance Group for their sponsorship of this event!

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DOES ADDING LANGUAGE TO A COI CONSTITUTE FRAUD?

KNOWLEDGE

By Big “I” Virtual University Faculty Response 2: I would send this to the carrier. You don’t want to misrepresent coverage. I had a situation where one state department said they were not subject to Department of Insurance regulations. Don’t put yourself in the middle. These requirements apply to your insured. You can only certify applicable coverage. That’s why the COI makes so many references to the policy.

An agent insures a small general contractor that is considering performing work for a large local school system. The school is requesting that the following clause be added to the certificate of insurance: “The policy(s) will automatically include and cover all phases of work, equipment, persons, et cetera which are normally covered while performing work under the above contract, whether specifically written therein or not.” Q: In particular, the “whether specifically written therein or not” statement bothers me because it seems to be asking us to effectively amend the policy to include coverage for whatever the owner darn well wants the policy to cover. I fear that this sort of request violates state law, in that it is asking me—as the licensed agent—to insert language that changes the policy. I plan to approach the school board and advise them that their language is tantamount to insurance fraud. Is my conclusion correct? Response 1: An agent should never add any language such as this to a COI. If the change is absolutely necessary, you should seek an endorsement to the policy from the carrier. This request, however, is likely to be rejected, as the language is overly broad and potentially troublesome.

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Response 3: It’s not insurance fraud—it’s a misguided attempt to use the COI to create certainty that cannot be created. A COI can only be used to report what is in the insurance policy, and since this language is probably not in the insurance policy, you can’t put it on the COI. Also, you may want to mention to the school that if they are getting this wording on other COIs, it is fraudulent—unless the agent can show proof of such language in the insurance policy. Point out that the COI is nothing but information. They need to know that any agent adding such wording to a COI, without showing proof that this language is included in the policy, is guilty of material misrepresentation. Response 4: “Normally covered” is not language I’ve ever seen in any insurance policy. Issuing such a COI would be an unfair trade practice in many states. Response 5: You are the agent of the carrier, which means you need to talk to the carrier about what wording they will and won’t allow. Be smart here—don’t do anything without direction from the carrier. This question was originally submitted by an agent through the VU’s Ask an Expert Service, with responses curated from multiple VU faculty members. Answers to other coverage questions are available on the VU website. If you need help accessing the website, request login information.

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Winter Holiday Safety

Winter holidays are a time for families and friends to get together. But that also means a greater risk for fire. Following a few simple tips will ensure a happy and fire-safe holiday season. • • • •

• • • • • • •

•

Holiday decorating Be careful with holiday decorations. Choose decorations that are flame resistant or flame retardant. Keep lit candles away from decorations and other things that can burn. Some lights are only for indoor or outdoor use, but not both. Replace any string of lights with worn or broken cords or loose bulb connections. Read manufacturer’s instructions for number of light strands to connect. Use clips, not nails, to hang lights so the cords do not get damaged. Keep decorations away from windows and doors. Holiday entertaining Test your smoke alarms and tell guests about your home fire escape plan. Keep children and pets away from lit candles. Keep matches and lighters up high in a locked cabinet. Stay in the kitchen when cooking on the stovetop. Ask smokers to smoke outside. Remind smokers to keep their smoking materials with them so young children do not touch them. Provide large, deep ashtrays for smokers. Wet cigarette butts with water before discarding.

Before Heading Out or to Bed

Blow out lit candles when you leave the room or go to bed. Turn off all light strings and decorations before leaving home or going to bed.

• •

FACTS

! More than a third of home decoration fires are started by candles.

! Forty-two percent of

decoration fires happen because decorations are placed too close to a heat source.

NATIONAL FIRE PROTECTION ASSOCIATION The leading information and knowledge resource on fire, electrical and related hazards

nfpa.org/education ©NFPA 2017

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O &

ER N R O C

IF YOU’RE A LAWYER, YOU DON’T NEED TO READ THIS byRichard F. Lund, J.D.

Richard F. Lund, JD, is a Vice President and Senior Underwriter of Swiss Re Corporate Solutions, underwriting insurance agents errors and omissions coverage. He has also been an insurance agents E&O claims counsel and has written and presented numerous E&O risk management/ loss control seminars, mock trials and articles nationwide since 1992. But if not, please read carefully. Insurance agents and brokers should be wary of commercial insurance customers trying to impose unreasonable and potentially illegal heightened duties on them. Improvements to state laws have limited the ability for customers to ask agents to make changes to the standard ACORD 24 and 25 Certificate of Insurance forms. Instead, many commercial insurance customers are seeking “guarantees” from their agents and brokers that their insurance policies comply with insurance provisions of their contracts with third parties. These customers are looking to hold their agents responsible if a loss occurs that is not covered by those policies, regardless of whether the agent had any existing duty under state law.

”I agree that the above referenced policy/policies meet or exceed the insurance requirements set forth in the contract provided by (name of commercial insurance customer). In addition, I agree to provide written notice if and when the policy/ policies ever change to the extent that it no longer meets your insurance requirements.” The first sentence requires that the agent: 1. review a written contract (the insurance policy/ policies), 2. compare it to the contract between the customer and the third party, and 3. provide a legal opinion that the insurance meets all of the criteria set forth in the contract. In baseball terms, three strikes and you’re out! Unless the agent is also a licensed attorney, they would not have the capacity to provide this legal opinion and, if they nonetheless attempt to do so, they could be subject to penalties for practicing law without a license.

We have seen a recent trend of commercial insurance customers requiring that their agent sign a document...

Case in point: We have seen a recent trend of commercial insurance customers requiring that their agent sign a document stating that should any insurance policies procured by the agency not comply with insurance provisions of a contract to which the customer is a party, then the agent would be liable for any uncovered losses. While this may appear to be straightforward, it actually requires that the agent act as a lawyer without the benefit of having attended law school or passing the bar exam. Consider the following statement contained in a document that was recently presented to a Swiss Re Corporate Solutions E&O insured for them to sign:

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The second sentence requires: 1. notice that is not required by an insurance policy, and 2. that the agent stay in constant contact with the customer to determine if any changes have taken place that would necessitate changes in the policies. This sentence is attempting to take the place of the ACORD Certificate of Insurance, and imposes duties that are not found on those certificates. If the customer attempted to require that they make the change to the certificate, they could be in violation of state law. The sentence is creating legal duties for the agent that they would not otherwise have. So what should you do if you are presented with this or any similar type of document? If your customer presents you with a written contract that includes insurance provisions setting forth the

Looking to Take Your Personal

Lines Experience to the Next Level?

We Want You! South Burlington, VT types of coverages they are to obtain, you should theminsurance with the customer, clarify NFP,review a leading broker and any ambiguities, and attempt to obtain the consultant that provides employee benefits, coverages. The general obligation of agents is & casualty (P&C), retirement, and toproperty provide those insurance coverages requested by their customer, orwealth to notify them individual insurance and management if solutions they are unable to do so. While individual is currently seeking an experienced state laws may create greater or lesser duPersonal Lines Producer to advance his or ties, this is the agent’s primary obligation. as ato Commercial Lines Producer If her you career are unable provide the coverages, in its South Burlington office. This you must notify them immediately so thatposition they can take appropriate action as they arefor is responsible for generating new sales required under their contract. Remember, you all Commercial Lines policies and requires are NOT a party to the contract between the the ability withonly clients, customer andto thework thirdclosely party. Your oblicustomer service representatives, gation is to obtain those coverages thatproducers, your customer has requested, except as otherwise management, and insurance carriers. The required by state law. In no event should you work environment is professional and very ever agree to sign any document that would supportive. The ideal candidate should have require you to make any legal interpretation excellent interpersonal skills, {2+} years of about whether or not an insurance policy meets or exceeds contractual provision. experience, anda ability to adapt to emerging

This article is intended to be used for general informational purposes only and is not to be relied upon or used for any particular purpose. Swiss Re shall not be held responsible in any way for, and specifically disclaims any Please sendout your liability arising of resume or in anyto: way connected to, reliance on or use of any of the informaDan Rodliff tion contained or referenced in this article. Vice President, NFP P&C The information contained or referenced in this article is not intended to constitute and PO Box 2243 should not be considered legal, accounting Burlington, 05407 or South professional advice, VT nor shall it serve as a substitute for the recipient obtaining such Or advice. The views expressed in this article do dan.rodliff notEmail: necessarily represent@nfp.com the views of the Swiss Re Group (“Swiss Re”) and/or its subsidiaries and/or management and/or shareholders. Copyright 2016 Swiss Re.

technology. They will be supported with commercial lines training and mentoring for prospect/planning, sales calls, proposals and education. A property and casualty license is required. NFP offers a highly competitive compensation and benefits package.

Free Legal Consultation for VIAA Members – Up to 30 minutes KEIDEL, WELDON & CUNNINGHAM, LLP Attorneys at Law

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BUSINESSES

A new staffing solution for insurance firms Find experienced staff today

“I WANTED YOU TO KNOW HOW AMAZING OUR WAHVE HAS BEEN. NOT ONLY IS SHE SMART AND QUICK AS A WHIP, SHE IS ALSO VERY SWEET AND WONDERFUL TO WORK WITH. SHE IS DETAILED AND THOROUGH WITH HER WORK. I AM SO VERY THANKFUL FOR OUR WAHVE AND ALL THAT SHE HAS DONE FOR US!” BAILEY M. BATTLE , KEEN BATTLE MEAD & COMPANY

Work At Home Vintage Experts (WAHVE) is an innovative contract staffing talent solution that matches retiring, experienced, trained and knowledgeable insurance professionals with insurance firms nationwide based on specific job needs. WAHVE delivers “pretiring” talent to fill most any insurance position and at a cost savings. Our screening and placing process provides a complete and effective solution to talent qualifying, hiring, and HR administration. We match the right vintage talent, wherever they may live, to the needs of our clients wherever they are located. With WAHVE, you can • • • •

Fill staffing needs when you can’t find the talent, whether part-time or full-time. Save on hiring, training, managing, overhead and turnover costs. Free up highly-paid staff for more time with clients and prospects. Generate operational efficiencies and drive growth.

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Wahves are highly trained insurance professionals with 25+ years of experience. We match the best “pretiring” talent to fit your staffing needs. You interview them and choose the right person for the job. Your wahves are ready to go with minimal training. They are highly productive, have a great work ethic and are tech savvy. They are there for you for the long-term and on a dedicated basis.

Hire a wahve today

CALL: (646) 807-4372 EMAIL: pretirement@wahve.com LEARN MORE AT: www.wahve.com

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Helen Collins hcollins@viaa.org

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Leasing: A Seamless Customer Experience

But don’t take it from us. Listen to your peers. Agents Express Leasing is an effective solution to manage your clients needs with today’s best equipment technology. Jay Byrnes of Byrnes Agency experienced how easy our leasing solution is for his agency: “As a longtime member of the “Big I”, I always knew of InsurBanc and their commitment to the independent insurance agent. Recently we wanted to update the agency with a new computer network and desktops, so I turned to InsurBanc for leasing options.

Please visit our web site at www.insurbanc.com or contact one of our leasing professionals at 800.957.0858.

From start to finish I experienced firsthand how seamless it was to conduct business with them. We have a 35 person agency so to update everyone’s computers was a decent size upgrade. InsurBanc made the process very easy and offered attractive terms and competitive rates which helped to manage the agency’s cash flow”. – Jay Byrnes ~ Byrnes Agency How it works: • Lease terms are 24, 36, 48 or 60 months with a minimum transaction of $5,000 • You are looking for 100% equipment financing, including certain soft costs such as software, shipping, installation and maintenance* • No down payments or advance payments are required • Monthly payments can be customized to meet your special business needs • You are looking for potential tax benefits associated with equipment financing**

We invite you to see for yourself. Contact us today for help preserving your cash flow with an equipment lease solution. These materials are for informational purposes only. The availability of any financing described herein is subject to approval of applicant’s credit, the equipment supplier and the equipment. *Soft costs are limited to 20% of the total amount financed. **Nothing herein constitutes tax advice and customers are advised to consult with their own tax advisors prior to electing specific rates or options. Agents’ Express leasing is a program of De Lage Landen Financial Services, Inc., a third party not affiliated with InsurBanc, a Division of Connecticut Community Bank, N.A.

W W W.V I A A .O R G Member FDIC

Access the members-only Big “I” Virtual University, at

Rea l Qu esti o n s , Rea l A nswers

independentagent.com. Our experts explore and explain real issues and policy coverage questions in four areas: commercial lines, personal lines, life/health and agency management. Users can also dive into talent recruitment, tips for starting an agency and much more.

Yo u r Insu ra nce Technic a l So l u ti o n

Can’t ﬁnd what you’re looking for? Ask an expert and get an answer! If you can’t ﬁnd an answer to your insurance query in the more than 17,000 pages of content in our extensive online library, just use our “Ask an Expert” service. A member of our faculty comprised of more than 50 industry experts will respond to you with a personalized answer.

Live and On-Demand Education The Big “I” Virtual University oﬀers a wide range of live and on-demand education taught by leading insurance industry experts from across the country developed speciﬁcally for independent agents. All VU webinars include access to the live event and a link to the post-event on-demand recording, and our 90-minute deep dive sessions also include a transcript, a valuable and value-added reference tool.

New Agent Training Solution Pick and choose from 8 modules or follow the BASICS or BEYOND tracks.

OPERATIONS

BASICS OF CONTRACTUAL RISK TRANSFER

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The learning curve for a new insurance professional is steep, but the Big “I” Virtual University is with you every step of the way. Our experts have developed on-demand, online education to help agents with one or two years of experience get ahead. *Presented through Agents & Brokers Education Network (ABEN) platform with a variety of attendance options to work for any schedule. (May vary by state)

independentagent.com/BasicsandBeyond

Find all of this and more at

INDEPENDENTAGENT.COM/VU

SHOPPING FOR INSURANCE…WE HAVE MET THE ENEMY AND HE IS US

William C. Wilson, Jr., CPCU, ARM, AIM, AAM 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. W W W.V I A A .O R G

Last week I did a Kiplinger interview about shopping for homeowners insurance focused, of course, on how to save money…as are virtually all consumer articles about insurance. I tried to make a point of how important it is to understand that you can’t compare prices in isolation. It is impossible to make a rational purchasing decision without considering what that price buys you in the form of coverage and exclusions. It would be like buying a car online based solely on the name of the manufacturer and a price. Then this morning I get a link to an article by the Texas Department of Insurance that says: How to Shop Smart for Insurance 1. Shop Around Yes, it’s that simple. Make sure to check prices for home and auto policies at least every three years. Insurers want your business, and you often get the best rates when you’re willing to switch companies. You can also get sample rates at www.HelpInsure.com. Sorry, but no, it’s NOT that simple. You would think a regulator charged with reviewing policy forms would know that. This does NOT help consumers “shop smart.” In fact, it makes it far more likely that they will choose poorly, thinking that price comparison is the only criteria for buying insurance. The first statement in this advice piece says, “We have a few tips to help you get the protection you need at the best price.” None of their tips necessarily get the consumer “the protection you need” because they don’t caution about the differences in protection provided within different quotes. I did a sample price quote at the link they provided and found premiums ranging from $250 to $2,500 for the same quote. There’s no way, for the factors used in the quote, that you could have that kind of premium differential. That tells me the quoting system is likely worthless and, worse, misleading and misrepresentative of the carriers’ programs. Who is being served by this kind of system? Just two days ago, I made a blog post about the bad advice that permeates the internet and media on whether or not someone renting a car should buy the loss damage waiver (LDW), lamenting that much of the erroneous insurance advice comes from within the insurance industry itself in the form of advertising and well-intentioned information from insurance regulators and others. How can we expect mainstream media outlets to write accurately about the insurance industry when we don’t do it ourselves?

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THE MEETING SPACE YOUâ€™VE BEEN LOOKING FOR

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COMPANY & AGENCY NEWS

DID YOU KNOW AGENCY E&O UMBRELLA IS NOW AVAILABLE THROUGH BIG “I” PROFESSIONAL LIABILITY A commercial umbrella underwritten by Swiss Re (rated A+ by A.M. Best) is now available exclusively to Big “I” members. Designed in collaboration with the IIABA to

PROTECT

your business with an E&O umbrella endorsed by IIABA

meet the needs of independent insurance agents Broad coverage over primary casualty lines,

including E&O Limits available up to $10 million over

CONSOLIDATE coverages with one carrier and avoid potential gaps

underlying primary E&O policy Will be available in 50 states and the

District of Columbia May to be written over a variety of E&O

carriers Contact your state association to learn more or to receive a quote today:

www.independentagent.com/EOContact

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SECURE your agency’s future with the largest writer of agents professional liability in the country

SUPPORT your state association while protecting your business

Insurance products underwritten by Westport Insurance Corporation, Overland Park, Kansas. Westport is licensed in all 50 states and the District of Columbia. Insurance products mentioned may not be available in all states. Please contact your state administrator or Westport for availability in your state

NOW HIRING! Titus Insurance Agency

Titus Insurance Agency in Shelburne looking for a Personal Lines Customer Service Representative to join our team. Candidates should demonstrate enthusiasm, a positive attitude, and strong communication and problem solving skills. You will be responsible for building relationships with our clients and carriers by delivering exceptional customer service, coverage review, looking for opportunities to provide relationship value, and process endorsements and payments for existing clients. Â Primary Expectations: Respond to and resolve account related inquires, policy changes, handle complex customer calls in a timely and professional manner and take ownership to resolve customer issues that will foster long term relationships within the agency. Understand the carrierâ€™s capabilities and systems, their underwriting appetite in order to remarket clients, round accounts, and write new business. Create the #1 customer experience in the independent agency system that creates value and increases retention. Requirements: Three yearsâ€™ minimum experience preferred but willing to train the right individual. Licensing will be required to perform duties as described. Offers a competitive compensation and benefits package. Please send resume to Donna Wagner via email Donna@titusinsurance.net or Annette Hannah at Annette@titusinsurance.net or mail to Titus Insurance Agency, PO Box 476, Shelburne, VT 05482. All inquiries will be strictly confidential.

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Everything you insure is on your shoulders

Who do you trust to have your back? VIAS offers the most prestigious Errors & Omissions carrier(s) in the country: Westport Insurance Company & Utica National Insurance Group

For a quote or for more information contact Helen Collins at hcollins@viaa.org or 1-844-609-1481

www.iiaba.net/eohappens 36

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VIAS is a subsidiary of Vermont Insurance Agents Association viaa.org

Granite

Mt Mansfield

Ethan Allen

Champlain

Hanover Insurance Group

AmTrust North America, Inc.

Imperial PFS MAPFRE|USA MEMIC Patriot Insurance Company

Maple

Berkshire Hathaway GUARD Mackinaw Underwriters, Inc (part of the AmeriTrust Group) Main Street America New England Excess Exchange, LTD Johnson & Johnson

Travelers

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