5TH2021HIN-2022EDITION
We pay your clients dividends. YOU GET REWARDS.THE
This summer, we sent $330 million in dividends to our policyholders — and they’ve got you to thank for it. We wouldn’t have it any other way. You see, at Texas Mutual, we know your relationship with your clients is vital to our success — and to yours. That’s why we take extra steps to make sure your clients get the best return on their workers’ comp investment. It’s just one of the ways we help you keep your clients happy and your agency strong. Scan to learn more. Dividends are based on performance, are not guaranteed and must comply with Texas Department of Insurance regulations.
HOUSTON INSURANCE NEWS WHAT WE COMMITEEDO: SPOTLIGHT Welcome Organize and collect content for our bi-monthly digital maga Keep our membership up to date on current events and information in the industry Spotlight and promote our members Seek advertisers and support from the in A committee who loves to share news, the HIN Committee publishes our bi-monthly digital newsletter with rich content aimed at informing our members of upcoming & past events, educational & legislative information, industry updates, acknowledgment of achievements of people in the industry along with articles relevant to current topics. Make plans to join us at our next meeting. See you soon! Bi-Monthly Wednesdays @ 5:30 PM Kirby Ice For more info contact Amy Weimer aweimer@hiallc.DETAILSMEETING 2
5TH2021HIN-2022EDITION CHARITY BOWL JULY LUNCHEON YIPS Flash 21 - 30 3331 02 34100604 3520 17 4313-15 39 COMMITTEE SPOTLIGHT WHAT DO YOU SAY?EVENTS & EXECUTIVEEDUCATIONDIRECTOR MESSAGE UHD AFFILIATE SPOTLIGHT Have YOU HEARD? PRESIDENT’S MESSAGE WHO HAS THE LAST WORDCPCU UPDATE IN MEMORIAM CONTENTS 3
EVENTS September Legislative Luncheon SeptemberOctober29November20December9 1 November 10 YIP’s Charity NutcrackerCornholePreview Party November Industry Luncheon Holiday Open House Fishin’ With a MissionEDUCATION1.2.3.4.5.6. Additional Insured January 26th October 13 - 14 4
Vice Chariman: Cassie Shanks Houston Insurance News
Chairman: Tasha Stolte
Charitable Projects/ Fire Prevention
Vice Chairman: Carisa Cole
Chairman: Amy Weimer Vice Chairman: Cassie Shanks
Chairman:MembershipJane Rhode Chairman:Recreation
Vice Chairman: Sarah Beck Education, I.T., CE
Chairman: Derek Pierce Vice Chairman: Grant Pierce PR/Media Matters Chairman: Scott West Social Chairman:MediaDaphne Clark
Chairman: Ashley Newton Vice Chairman: Nancy Euginio
Vice Chairman: Mickie Comiskey
Houston Insurance Day
Amber Stevenson
2021
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Chairman: Michelle Dennis Vice Chairman: Katrina Masek
Chairman:Legislative Kyle Dean
Chairman:IMPACT Mickie Comiskey
COMMITTEES - 2022are what breaths life into our association. With 9 active committees there are at least 100 people actively serving the association with their unique skills. We are always looking to put your skills to use to further drive the association’s mission forward. No matter what your skills are, or what you are passionate about, we likely have something of interest to you. The end result is to better the industry we all serve. Join a Committee today and become part of the mission.
Young Insurance Professionals
David Wuthrich IIAH Executive Director 6
Greetings, I think they call these days “the dogs days of summer”! So, I looked up the definition and here is what I found: Definition of dog days 1 : the period between early July and early September when the hot sultry weather of summer usually occurs in the northern hemisphere. 2 : a period of stagnation or So,inactivity.weare correct on one definition and not so much on the other. Yes, we are in the hot, sultry summer in Houston, but no, we are not stagnating or inactive! I know that many of you are getting children in school and working on next year’s budget!
August 15, 2022
Your friends here at IIAH really appreciate all the activity during this past summer. We had a record setting Annual Charity Bowling event, raising more money for charity then ever before!! Great job!! Someone told me it was because I was not there, and they may have a point!! Renee and Ayla do a wonderful job making sure that event is one of the most well attended and fun events of our year!
Speaking of our year, we are coming to the close of our 2021-2022 fiscal year. Thanks to all of you who made it a wonderful year as we were in full swing after the effects of COVID the year before. I look forward to even greater things and more participation in 2022-2023!!
A special word of thanks to our Board of Directors and Executive Committee for 2021-2022. Renee, Ayla, and I really appreciate all the time, effort and hard work that you gave the association during the year. Without your leadership, the IIAH would look very, very different! I would especially like to thank Darrell Wolfe for his three years of service on the board! Thanks to Chris Goff for your 8 years of service and as your role as Past President comes to an end. We really appreciate all that you have done to strengthen our organization. Thanks also to this years President, Jim Drew. Your leadership has been invaluable, and I look forward to your advice and council in your Immediate Past President Hoperole. to see everyone at our Industry luncheon on September 29th when we install the new officers and hear from the Texas Insurance Commissioner, Cassie Brown!
ANNUAL SPONSORS Titanium Elite Sponsors Platinum Partners for Excellence Gold Patron Sponsors New Agency: New Affiliate: BOARD DIRECTORSOF NEW MEMBERS COMMITTEEEXECUTIVESTAFF Jason Nybakken Adam Harris Jason Knecht Susan Zipperer JimRyanDrewBeavers Sarah Beck Laurie Dempsey Tom Fitzpatrick Tony May William Peachey Jesse Sanchez Wes JohnWeatherredColladoKevin Comiskey Matt DebAylaReneeLeichtStagerBenavidesMcRae Imperial PFS ChubbBurns & Wilcox, Ltd. RT CNASpecialtyInsurance Companies CRC TexasGroupMutual Insurance Jencap | Delta General Agency A Division of Jencap UFG Insurance Company WRIGHTTravelersFloodMoreTruckInsurance Solutions Combined Agents of America, LLC EMC KeystoneBrokerageInsurance Group WSG Specialty Underwriters David Wuthrich David Wuthrich 7700 San Felipe, Suite 310 Houston, Texas 77063 Executive Director Sr. Managing Director Managing Advertising/MembershipDirectorPresidentPresidentElectVicePresidentTreasurerTreasurerElectExecutiveDirectorPastPresident 8 : www.iiah.org P: 832. 769.4666 F: 832.324.3503
BBA in Insurance and Risk Management Scholarship Program
The University of Houston-Downtown offers a fully online BBA in Insurance and Risk Management (IRM) that has been ranked #2 of the best insurance and risk management online programs by Online Schools Report. In addition to offering a solid and strong foundation in property and casualty insurance and risk management, the pro gram also offers a robust scholarship program for IRM majors. Each new IRM major receives a $1,000 scholarship, when enrolled in an IRM course, and all other IRM ma jors receive scholarships based on GPA each fall and spring semester ranging from $500 to $1,000. This unique opportunity is only possible due to the financial support of the Texas Insurance Educational Foundation (TIEF), the IRM Council and other industry organizations.
TIEF, a 501(c)(3) non-profit, was founded in 2014 by insurance professionals Timothy Brady, Thomas Braniff, Kyle Dean and Matt Sasso with the mis sion of raising funds within the Houston Insurance industry and using them to devel op new talent for the Houston property/casualty insurance industry through the support of insurance and risk management education. It has contributed over $500,000 to the programs since then. If you would like to contribute to the UHD IRM program, please contact Priscilla Oehlert at oehlertp@uhd.edu or if you would like to contribute to TIEF, please contact Wendall Braniff at wbraniff@braniff-law.com.
What’s Been Happening in the UHD Insurance and Risk Management Center
University of Houston-Downtown’s
One of our charitablethattheyathletesRepairsuitableworksreintegratedogssuchanxietybeenRehabilitatebenefactors–Oftenretiredworkingdogshaveinsituationsthatcancausethemsevereandstress.ManyretirewithissuesasPostTraumaticStressDisorder.Theseneedtimewithustodecompressandintosociety.MissionK9Rescuewiththesedogsinordertogetmaketheforadoption.–Workingdogstrainlikeprofessionaltheirentirecareer.Oftentimeswhenretire,theyhaveextensivemedicalissuescanbecomequitecostly.Sincetheydon’t
MISSION K-9 RESCUE
To Rescue, Reunite, Re-Home, Rehabilitate and Repair any retired working dog that has served mankind in some capacity. Rescue – Any and all CWDs and MWDs as well as any other working dog that may need our help. Mission K9 Rescue is committed to sav ing them and giving them the retirement they deserve; whether it be bringing them back from overseas or rescuing them out of a poor environ ment Reunitestateside.–Anyretired working dog that has a handler that wants him, and has proven that they are the right home (handlers always get first preference) Mission K9 Rescue will see to it that the dog is transported to the handler. Re-Home – Any retired working dog that does not have a designated handler, Mission K9 Res cue will work to find the perfect loving home for the dog.
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receive retirement benefits, Mission K9 Rescue provides much needed funding to assist han dlers/ and or adopters with medical bills.
DONATE TODAY Show your support by contributing a donation today.
CPCU UPCOMING EVENTS Houston Chapter August 2022-September 2022 CPCUJuneSocial Houston Chapter CPCU hosted a Social on June 16th at Kirby Ice Hous at I 10 and Gessner. Members, New Desig nees and their guests enjoyed free drinks, food and great camaraderie. The Chapter is planning another fun social event for mid-December, when Houston temperatures may allow outdoor socializing! Keep tuned for more details! Jason Jimenez, Shyield Cyber Risk “You are the Weak est Link” Wed. 8/17/22 @ 11:30 am Luncheon Meeting Houston Racquet Club 10709 Memorial Drive https://houston.cpcusociety.orgRegister: Marilyn Davis College of Business Insurance and Risk Management Center The University of Houston-Downtown offers a BBA degree in insurance and risk management that in cludes five of the eight courses required for the CPCU designation. Contact Insurance and Risk Management Center Director Priscilla Oehlert at 713-226-5522 or oehlertp@uhd.edu to learn more about the program. Interested candidates can also learn about scholarships available to all new IRM students or register online at Info Sessions: Tuesday 8/9 2:00 pm Thursday 8/18 7:00 pm 13 Reginald McCalister and Celine Camarillo Cristine Perez and Mark Totolas President Kevin and Jana Boykin Houston Chapter Treasurer Melvinn Brown, Past President Judith Smalls, Secretary Emily Haluska, and President Kevin Boykin Judith Smalls, Emily Haluska, Zenz Evans, Jana Boykin and Mary Sutter AUGUST
Hayden Stokes Racino, Blackmon Mooring BMS Cat Recovering from a Catastrophic Event Houston Racquet Club Wed. 11/16/22 @ 11:30 am Register: https://houston.cpcusociety.org
14 SEPTEMBER OCTOBER NOVEMBER DECEMBER
Kim Waller, Korn Ferry Organizational Strategy and DEI Wed. 9/21/22 @ 3-6 pm Cocktails and hors d’oeuvres Houston Racquet Club 10709 Memorial Drive Register: https://houston.cpcusociety.org
The Houston Chapter’s local Conferment Ceremony in October will recognize those dedicated professionals who met the rigorous academic, ethics and professional practice requirements to merit invitations to join the Society by June 15th. We will also recognize those companies that encourage and support insurance professionals to attain the knowledge and expertise to earn the CPCU designation and continue to expand their insurance edu cation by joining the local Houston Chapter and providing financial and intangible resources to support to their employees. The Houston Chapter recognizes these companies that support their employees’ long-term careers within the company with awards including Best Overall CPCU Partner, Greatest Number of New Houston Chap ter Members, and Greatest Number of New Designees.
The board and committee chairs are planning a fun social event for mid-December to culminate the year and cele brate the opportunity to interact socially with colleagues and friends post-COVID. Stay tuned for details! Please follow the chapter on: Instagram: LinkedIn:Twitter:@HoustonCPCUSociety@HoustonCPCUHoustonCPCUSocietyChapterFacebook:HoustonCPCUSociety
CHAPTER CONFERMENT If you are a Houston-area CPCU or designee, and wish to learn more about our educational pro grams and courses, community outreach, and other activities, please contact Vicki Treadville at Vicki.Treadville@cfins.com
The Wednesday, September 21 monthly meeting will offer something a little different. This Joint meeting, hosted by the Atlanta, GA chapter, will include the Houston and Dallas, TX chapters and feature dynamic and sought-af ter speaker Kim Waller with Korn Ferry, who is an Organizational Strategy and DEI (Diversity, Equity & Inclusion) specialist. Due to time zone differences, the Houston meeting will be from 3:00-6:00 pm (please note the differ ent time than usual!) and include a 4:00 live presentation from Atlanta, which members can attend virtually at the Houston Racquet Club, and will include a pre-presentation social featuring cocktails and hors d’oeuvres. Continu ing education credit is being applied for with TDI.
2022 CPCU HOUSTON CHAPTER BOARD OF DIRECTORS 2022 CPCU HOUSTON CHAPTER COMMITTEE CHAIRS PRESIDENT Kevin Boykin, 832-765-1810Kevin.Boykin30@gmail.comWillisPetrochemicalCPCUBrokerTowerWatson GOOD WORKS CHAIR Michelle Dyer, 713-410-9058mmd7311@gmail.comCPCU MEMBERSHIP CO-CHAIR Vicki Treadville, CPCU, AU, AINS, Underwriter,CRIS Energy Crum & Forster Vicki.Treadville@cfins.com 713-954-8142 MEMBERSHIP CO-CHAIR Kim Larson, CPCU Executive Underwriter Crum & Forster Kim.Larson@cfins.com 713-954-8828 NEW DESIGNEES Tawnya Witcher, CPCU, AINS, AIC, API, AIM Account Manger AMICA Mutual Insurance Com 800-532-6422;twitcher@amica.company65512 PUBLICITY CHAIR Wendall Braniff, J.D. 512-924-2216wbraniff@icloud.comBraniffPartnerAttorneys SOCIAL MEDIA CHAIR Troy Calfee, CPCU, CISR 832-584-7271Calfee_Troy@yahoo.comAmRiscUnderwriterGroup WEBMASTER Teri Pruett, CPCU, AU, API, AINS, Asst.ANFI Business Process Supervi sor AMICA Mutual Insurance Co. 888-887-9310;tpruett@amica.com65523 EDUCATION CHAIR Mary Sutter, CPCU, ARM, AAI, AIS, InsuranceAINS Manager Fidelis Realty 713-419-0965Marysutter007@msn.comPartners DIRECTOR AT LARGE Terrence Steele, CPCU, AIC Claims Representative Texas Farm 713-254-1388tsteele@txfb-ins.comBureau NATIONAL REGIONAL DIRECTOR Bradley K. Harmes, CPCU 713-502-6392bharmes@gmail.comRetired DIRECTOR AT LARGE Brandon Yarbrough, CPCU, AIC, API, AINS, AIM Sales and Client Services AMICA Mutual Insurance Co. 800-532-6422;byarbrough@amica.com65503 PAST PRESIDENT Judith Smalls, CPCU, CIFI, AIC Senior Special Investigator 346-339-3561JudithSmallsCPCU@gmail.comUSAA TREASURER Melvinn Brown, CPCU, CPRIA, ARM, AIC, API, AIS, ACS State Business Manager American Family 608-243-6500;Melvinn.Brown@amfam.comInsurance46547 PRESIDENT ELECT Emily Haluska, MBA, CPCU, Are, RPLU Director of Underwriting Capstone Associated 713-800-0550;comehaluska@CapstoneAssociated.Services381 CONFERMENT CHAIR Emily Haluska, MBA, CPCU, Are RPLU Director of Under Capstonewriting Associated Ser 713-800-0550;ed.comehaluska@CapstoneAssociatvices,Ltd.381 SECRETARY Vicki Treadville, CPCU, AU, AINS, Underwriter,CRIS Energy Crum & Forster Vicki.Treadville@cfins.com 713-954-8142 15
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It has been a wonderful year for me, I have had the opportunity to work with a great Board and Executive Committee. The best part has been working with Renee, Ayla, and David. Their work is outstanding and the quality is exception al. They have been working on the IIAH behalf to make our association the best. They have pivoted to in person events flawlessly. One of the events was Charity Bowl 2023 which raised $10,000 for char ities. With your support of our association you are making our industry, our commu nity and our charities better. I encourage you to get involved with your association by volunteering on committees, joining the Board, or attending the events. Your career will be better for it.
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Jim Drew IIAH President 2021-2022 Jim jdrew@bmbinc.comDrew713-880-7100
I would like to thank our past president Chris Goff for his commitment to the IIAH. I would like to thank David Wuthrich, Renee Stager and Ayla Benavides for mak ing my term so enjoyable. I would like to thank the Board, the Executive Commit tee, the Committee Chairs, the members of the committees, and all the volunteers that make the IIAH so outstanding. Thank you for the opportunity to be President of such a great organization. I know Jason Nybakken will do a great job as our new President of your association.
TAKE POLL
Combined Agents of America (CAA) is celebrating 25 years of strengthening inde pendent agencies! CAA is a privately held aggregator with over 70 agency partners across eight states. We work to achieve profitable growth for our members through key part nerships with insurance companies and vendors. We are a Top 10 agency part nership as ranked by Insurance Journal, and our agency members represent over $200 million in total P&C revenue. Not only is CAA among the leading insurance networks with many of the top-rated insurance companies in Texas, Oklahoma, Kansas, Nebraska, Missouri, Colora do, Iowa, and South Dakota it is also one of the fastest growing. This growth has stemmed from the great lengths we take to strengthen and enhance our relation ships with insurance companies and our members. All of this is accomplished while maintaining independence and helping grow each agency’s bottom line. “We’re very proud of the relationships we’ve been able to build with our members and carrier partners,” says A.J. Lovitt, CEO of CAA. “These great relationships are really the key to our success. That’s why we have strict guidelines for both our pro spective members and the carriers with which we partner.” For more information, please visit combinedagents.com or contact Jane Rohde, Vice Presi dent of Member Engagement for CAA, at jane@combinedagents.com
AFFILIATE SPOTLIGHT
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Thank you so much to everyone who participated in our Annual Charity Bowling Tournament. We were able to raise over 15k for our beneficia ries thanks to everyone who made a donation and played in our tourna ment. We even had the pleasure of having all three of our beneficiaries participate and meet our members! Our 2022-2023 benefactors are The Brookwood Community, Mission K9 Rescue and Texas Association of First Responders. We greatly appreciate your continued support and cannot wait for next year! Save the date for July 08, 2023.
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Thank you to our wonderful sponsors that help make this event
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The IIAH July Industry Luncheon was held on July 21st at Maggiano’s Little Italy. Welcoming everyone was IIAH Presi dent-Elect Jason Nybakken of IBC Insurance Agency. Jason thanked our Titanium Elite and Platinum Partners for Excel lence, and the Gold Patron sponsors who provide continued support to all IIAH events. Jason presented a token of ap preciation to Gregg Porter, Flood Territory Manager, Select Insurance Company of America, for instructing the after noon continuing education seminar, NFIP Then and Now. IIAH Immediate Past President, Chris Goff, Brown & Brown | HARCO offered the invocation. Pascal Ray, the Managing Partner of Puma Risk, LLC, ad dressed IIAH members with his presentation Energy Insur ance Market Update. Pascal has over 35 years of special ized MGA Underwriting programs and exclusive products on behalf of domestic American, Lloyds, London, European and Bermudian insurers. He gave members a concise overview of the six key considerations to the current market condi tions, Covid 19, Inflation, Cost of Capital, the War in Ukraine, ESG, and Insurer and Reinsurer Exit. Pascal closed with a promise to share more updates in the coming New Year. Be sure to join us on September 29th at Maggiano’s Little Italy with the Texas Department of Insurance Commissioner, Cassie Brown as the keynote speaker.
July LuncheonJuly Luncheon
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During the 2019 and 2021 sessions, legislators filed a flurry of bills relating to how local governments and businesses operate in preparation for, during, and after major weather events. The 2019 session was the first time the Texas Legislature met following Hurricane Harvey and the February 2021 deep-freeze hap pened during the 2021 regular session. Several bills became law because of those two major weather events, including these two insurance-relat ed bills: Senate Bill 442, from the 2019 session, mandates that insurance policies that cover residential or commercial property which do not include flood coverage, clearly state that the policy does not cover damages or loss due to a flood. This helps consumers for obvious reasons and also agents from E&O claims. The next session, the Texas Legislature added protections for people who rent rather than own. House Bill 531 deals less with insurance, but none-the-less protects consumers. The new law mandates that landlords disclose to potential tenants if a property is in the 100-year floodplain and/or has flooded in the previous five years.
If you haven’t given to IMPACT, you should think about doing so – Every dollar helps! IMPACT is YOUR voice to help YOU in your career!
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Our YIP’s F.L.A.S.H on August 11th had a wonderful turnout! Our industry professionals gathered at Saint Arnolds Beer Garden for networking and drinks before enjoying a night of gambling & great compa ny at the Annual IICF Casino Night. Thank you to everyone who came out to our event. We look forward to seeing you in October for the 3rd annual Charity Cornhole tournament.
“Have you ever won a contest or award?”
AUSTIN, TX — The Independent Insurance Agents of Texas (IIAT) is proud to announce that Pete Hamel, founder of Hamel Insurance Agency in Houston, was named the 2022 Drex Foreman Award winner at IIAT’s annual awards ceremony and business meeting. The ceremony took place on June 24, during IIAT’s INSURCON, at the JW Marriot Hill Country San Antonio. Named after Drex Foreman, who served as the chief executive director of IIAT for more than 30 years, the Drex Foreman Award is the highest honor IIAT bestows annually to an indi vidual who has contributed greatly to the indepen dent agency system. Hamel started in the insurance business more than 60 years ago as a second-generation insur ance professional selling life insurance during the summers in college. After graduating, he began a full-time insurance career and started his own boutique agency in the early eighties and was also on the board for several years as the treasurer. For the past 30 years, Hamel served on the board of the Texas Automobile Insurance Plan Association, filling one of the two agent seats. During his tenure, TAIPA was depopulated from hundreds of thousands of policies down to a few thousand.
HEARD?
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Pete Hamel of Houston Receives 2022 Drex Foreman Award YOU
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As a child, Pete’s daughter, Mary Ellen Hamel, Se nior VP of Sales at AMERISAFE, remembers going with her dad on weekends and holidays to help insureds protect their homes and businesses when tragedy hit. “We boarded up buildings, set up bar rel fires to keep nursery plants from freezing - you name it. He was an agent 24/7. He didn’t just sell insurance, he was their advisor and their support system in their time of need,” she said. In 2000, Hamel merged his agency, which gave him more time to do what he does best: counsel insureds on how to protect their personal and business assets. “My father has been dedicated to the industry for over 60 years. It was not until his cancer diagnosis, and the unexpected sale of his book of business this past winter, that he had to retire,” said Mary Ellen Hamel. “I am glad he is now getting to spend more time at our property driving his tractor and mule. But he misses not having the day-to-day interaction, counseling his insureds and talking with his industry peers. It is who he was and will always be. It’s in his blood as it is in mine,” she said.
I’m , stepping in today to introduce myself, as your new Travelers Sales Executive (Marketing Rep) for Business Insurance. I’ll be your new point of contact for Travelers Business Insurance. I’m excited and looking forward to working with each of you, and want ed to make sure you, at least, had my contact information. As I begin making my rounds introducing myself to your agency formally, I look forward to learning more about you and your agency. Feel free to con tact me at TJDICKER@Travelers.com or 214-570-6023. TAKE POLL
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October 6, 1955 - August 7, 2022
It was through his work in the insurance industry that Dan met the love of his life, Katy Brock, whom he married in 1993. Dan was an exceptional hus band, father, father-in-law, grandfather, and friend. Every person he met was enveloped in his love and wisdom. In addition to his immediate family, Dan leaves behind an extraordinary and much loved group of extended family members.
Dan cherished his time on the golf course, enjoyed fine wine and tequila, the best of all foods, and lis tening to diverse genres of music from the Grateful Dead to Frank Sinatra. During his travels around the world for business and pleasure, Dan touched people with his genuine warmth and kind spirit.
In addition to his 40+ year career in the insurance industry, Dan was a longtime member of West University United Methodist Church and Brae Burn Country Club.
IN MEMORIAM Dan Burton October 6, 1955 - August 7, 2022
Dan was born on the 6th of October 1955, in Kansas City, Missouri, the son of Delmar Lee Burton and Glenna Lou Branstetter Burton. Shortly after birth, Dan’s family moved to the San Francisco Bay area.
Dan Burton, 66, died on Sunday, the 7th of August 2022. It was an unexpected, but peaceful end to a highly productive life of commitment. Dan will al ways be remembered as a loving husband, a dedi cated father, a special friend to many, and a trusted business partner.
Dan graduated from Carlmont High School where he played football. Dan spent his college years in Utah at Snow College and Utah State University pursuing his degree in Anthropology and skiing every free moment. After graduation from Utah State, Dan returned to San Francisco where he followed his fa ther’s footsteps into the insurance industry and had a highly successful career as an insurance execu tive. Dan started his career with Fireman’s Fund writ ing surety bonds for the wine makers of Napa Valley. The growing demand for surety bonds in the energy industry brought Dan to Texas where he worked with several insurance firms including AON and Alliant. Dan had very recently been recruited as Executive Vice President of Lockton’s surety practice.
Dan was preceded in death by his father, Del mar Lee Burton, in 2021; his mother, Glenna Lou Branstetter Burton, in 2006; and his sister, Deb orah Lee Burton, in 2018. He is survived by his dear wife, Katy Brock Burton; sons, Spencer Wood Burton, and Kendall Brock Carew and his wife Mal lory Maxon Carew; and his grandchildren, Carolyn Edwards Carew and Henry Brock Carew. The family would like to express their deepest appreciation for the extraordinary care from the doctors, nurses, and staff at Houston Methodist Hospital.
If the carrier has an available replacement guard endorsement, offer that, too. Again, document your customer’s response, and if it is a “yes,” get the new limit in place immediately. Remember: Too little, too late is no good for anyone. Yes, this does sound like a lot of work but bear in mind that many of these efforts will result in higher commissions for you as a benefit of helping your customer. Still not convinced? Count the number of property policies written through your agency, then determine what the deductible is on your E&O policy—and the aggregate, if you’re lucky enough to have one. The real question isn’t whether you can afford to make the effort required to contact all these customers; it’s whether you can afford not to.
To make matters worse, you never mentioned a thing about coinsurance or replacement cost, which is how—they solemnly explain to the jury—they wound up with a severely uninsured loss.
If the expense scares them off, suggest fallback options like an estimator program that calculates replacement cost based on location, square footage, construction type and a variety of other factors that your customer— not you—should provide. The insured is the best person to provide this data and we have seen many E&O claims resulting from errors made when inputting key variables like square footage.
Once your customer has arrived at the correct value, obtain written quotes based on that figure.
Over the past decade, Marshall & Swift/Boeckh estimate that some 60% of residential homes are undervalued by roughly 1520%--and that was before the recent explosion in construction costs caused by supply chain issues, hurricanes, the pandemic and the war in Ukraine. You’ve of course heard that the current rate of inflation may be as much as 8% on an annual basis but the cost to repair or rebuild a damaged property, residential or commercial, is up by about 15%. Consider the implications of the number of underinsured properties in the context of your business. The odds are, many of your customers were already underinsured by their own choice but, even if their policy limits were exactly where they needed to be a year ago, inflation has put even those sensible customers at risk of incurring a coinsurance penalty.
Full coverage.” Does that phrase sound familiar? It should because we’ve heard it said by claimants in errors & omissions claim after errors & omissions claim. Why does the insured have inadequate limits? Because you assured them—incorrectly, it turns out— that they had “full coverage.”
If you’re like the vast majority of agents, you have a lot of customers concentrated in a relatively small geographic region. What if it gets hit by a wildfire, hurricane, tornado, derecho or severe rainstorm? You could wind up with dozens of claims involving customers whose limits are not enough to repair or rebuild their property.
Too Little, Too Late July 19, 2022 | E&O Insurance News
If they express interest? Do not offer to assess the replacement cost of their property yourself— not unless you have serious training that qualifies you to make such an assessment, especially considering rapidly escalating prices. Ideally, their current property carrier will be willing to make that calculation. If not, be prepared to suggest a local professional resource, such as an appraiser or construction company, that can offer an expert opinion about the replacement cost of the property.
Sadly, given the number of customers who have claims each year and the likelihood that inflationary pressures have rendered their limits inadequate, it won’t take a catastrophe to have claimants—and their attorneys— lined up at your door. There is, however, a silver lining to this ominous, dark cloud. In ordinary times, if you asked a customer if they would like a quote with higher limits, their inevitable response would be, “Why?” And in ordinary times, your sensible reply—that it makes good sense to reassess limits periodically to ensure that the property is insured to value—would have often been met with a shrug or “Maybe next Thisyear…”year is different and these are not ordinary times. Plus, inflation is very much in the news these days, so your suggestion that it is time to revisit limits and your explanation is much more likely to be Needlessheard. to say, your offer of a quote with higher limits should be made in writing and you need to follow up to close the loop. If your customer still insists upon sticking with their current limits despite your explanation, that’s their decision to make. Just be sure you document it.
42 When strength and stability matters… We can get you there! Property | Liability | Contractors | Environmental Inland Marine | Garage | Professional | Homeowners RSI International, Inc. | 1250 East Copeland Rd. | Arlington, TX 76011 | 800.275.2084 RSI INTERNATIONAL, INC. Managing General Agency Arlington • St. Louis Toll Free: 800.275.2084 www.rsimga.com
The other day I had dish that was “garnished” with fried crickets. They didn’t taste like much.
Gilligan’sPirates Island
Definitely my iphone. It’s my favorite and least favorite all at the same time. When I was about 12 we a took a two-week car trip with my uncle visiting pretty much every battle field between Texas and Washington D.C.
LASTLASTTHETHEWORDWORD
Ninjas or pirates? What was your favorite childhood television program?
WHO HASWHO HAS
Weirdest thing you have ever eaten?
What is the longest car trip you have ever taken?
Are you a collector of anything? My wife and I pick up your typical tourist mag net everywhere we go.
What was the first thing you bought with your own money? If you could choose to stay a certain age forever, what age would it be? What is something you learned in the last week?
If you could paint a picture of any scenery you’ve seen before, what would you paint?
What is your pet peeve in traffic? Do you have any hidden talents? What is your favorite flavor of jellybeans?
Can vegetarians eat animal crackers?
Craig & Leicht The crack of a wooden baseball bat hitting a homerun (when it’s an Astro of course). St. Thomas in US Virgin Islands Probably candy but the first thing I remember saving for was a boom box. Mid 30’s. You’re a full-fledged adult but your body isn’t falling apart yet. If you rent a convertible while traveling, pack lite!
Where do you work? What sound do you love?
What did you do growing up that got you into trouble?
Matt Leicht
What is your LEAST favorite electronic device?
The person who drives all the way past the line of cars getting on the freeway and cuts in at the last second. Not really I think every jellybean I have eaten the last decade was specifically designed to taste bad, so I have no idea.
I hated homework and so I was always getting in trouble for not turning it in. Only if they are ok with the gluten.
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