Kentucky IA - July/August 2017

July/August 2017

There are many benefits to membership... how many are YOU using? ing u n ti on n o C cati Edu CRM & ney o M ing Sav unts co s i D

You Age ng nts

Cybe Liabi r lity

E&O

p u o Gr th l a e H e

Cutting-Edg Events

Together...

We’re making a difference to our members, to our agents, and in our community.

200 Executive Park, Louisville, KY 40207 502.894.8484 | 800.367.5372 | www.kesa.org

What's

Inside

Page 8

Contents

8 Four Ways Remote Workers Can Improve Your Agency’s Performance 10 Another great and rain-soaked year for Jr. Golf Tournament 12 Summer Sales: 10 Excuses for Lazy Prospecting

Page 23

14 Conference Recap 16 Check out out what IIAK offers you 18 Have Questions? Here’s who will have the answer 23 8 Powerful Features to Help You Use TrustedChoice.com to the Fullest 28 Architect’s Group Publishes New Forms

Page 28 The Kentucky IA is the official magazine of the Independent Insurance Agents of Kentucky, and is published bi-monthly.

Editorial offices are located at 13265 O’Bannon Station Way, Louisville, Kentucky 40223.

Telephone:(502) 245-5432 Email: iiak@iiak.org Fax: (502) 245-5750 The Kentucky IA welcomes all advertising and editorial submissions. Inquiries for advertising, news releases and editorial contributions can be directed to Nikki Robins at the editorial office address or via email at nrobins@iiak.org

In Every Issue 4 From the Chair

30 Industry Partners

5 DOI News

35 Advertiser Index

6 Education Calendar

35 Classified Ads

15 Upcoming Events

35 Social Media Links

Mission Statement The mission of the Independent Insurance Agents of Kentucky is to be the preeminent advocate for Kentucky Independent Agents and support their business and professional development needs.

www.iiak.org | July/August 2017 | 3

Officers George L. “Chip” Atkins

Chair, Louisville 502.585.3600 Michael G. Johnson, CIC

Chair-Elect, Lexington 859.233.1461 Aaron LaRue

Vice Chair, Bardstown 502.348.0050 James D. England, AAI

Treasurer, Pikeville 606.437.7361 Stephen R. Kinkade, CPCU, AAI

National Director, Leitchfield 270.259.5465 David M. Houk

Immediate Past Chair, Horse Cave 270.786.2724

Directors Allen J. Crawford, CIC, CSRM

Somerset, 606.679.6311 Kevin T. Desmond

Bellevue, 859.491.5100 Eric S. Harden

Young Agent Chair, Louisville 502.459.7500 Sharon B. Hill

Jamestown, 270.343.3144 Skip McGaw, CIC

Madisonville, 270.821.3122 Crystal Reid, CIC

Madisonville, 270.994.3737 Ray A. Robertson, CIC

Mt. Sterling, 859.498.3410 Laura Yount, CIC, CISR

London, 606.878.0100

Staff Peggy P. Porter

President & CEO Katie M. Freshley

Education & Events Director Amy Good

Administrative Assistant Tara T. Purvis

Marketing Director

Chair From the

We are often so busy taking care of our own client’s that our own needs get put on the back burner. Let IIAK help you provide some of the much needed insurance coverage for your agency.

The Big “I” Professional Liability program, underwritten by Westport Insurance Corporation has grown into the largest insurance agents E&O program in the nation.

We as agents rely on a strong E&O program to allow us to operate on a daily basis.

It is nice to know you are backed by an insurance carrier that fully understands your needs. Whether it is limits up to $15 million, the opportunity for premium credits, or specialized claims handling, our program continues to provide an excellent value in the marketplace.

As healthcare continues to evolve, it is important to know that you have an Association Health Plan that continues to provide a very competitive option. Our plan is not subject to community rating, which in many cases will be substantially more expensive. Under community rating, medical underwriting is not taken into account. Our health plan continues to have the ability to medically underwrite your agency, which can allow the opportunity to receive more favorable group pricing.

If you feel that your agency is average, or better than average health risk, please take the time to request a quote from IIAK. Our plan also allows you to be part of a much larger group. You have a number of plan options to select from. Each of the plan options also includes a comprehensive vision plan. We have been very fortunate that the plan has run well over the past few years and has received renewal better than the industry average. We are very fortunate to have the opportunity to be part of such a competitive program.

Another exciting program that all members have the opportunity to take advantage of is First Call Free Legal. This program allows members to receive up to 30 minutes of legal advice at no charge. This benefit is provided by IIAK General Counsel, Rick Pitts. Rick is an insurance industry expert and understands insurance related situations. As you know, our clients often ask our opinion on what could be legal matters. Rick is a great resource to reach out to and get that actual legal opinion. I have personally consulted with Rick and could not be more pleased with the overall experience. We, as IIAK members are lucky to have Rick as a resource that will provide another level of professionalism.

While I have touched on only a few of our products and services, please note that there are many more that can help your business. As your IIAK Chairman, I want to encourage everyone to become more familiar with the products and services available through IIAK. We want to provide the necessary tools for you to better position your agency for continued growth.

Sincerely,

Nikki S. Robins

Communications Director Kristie Weyer, CISR

Insurance Services Director

4 | www.iiak.org | July/August 2017

Chip Atkins

News Department of Insurance

I hope you are having a pleasant summer and are enjoying some rest and relaxation with family and friends.

It has been a busy time at the Department and I want to update you on a few items.

First, the Department’s reorganization was effective on July 1. We believe the changes will have minimal impact on agents and consumers, but wanted to make you aware.

Administrative Services was a branch of the commissioner’s office. The reorganization makes that branch a division, which expands to include the Information Systems staff. A director will be hired to lead those efforts.

The Property and Casualty and Health and Life divisions merge under the reorganization and become the Division of Insurance Product Regulation. We saw a benefit in having the rate and form filing functions under one umbrella. A director will be hired for the combined division. For now, Deputy Commissioner Tony Butcher is serving as acting director.

Please bear with us while we make the needed changes to our website to reflect these changes. We have discovered that many references to division titles will need to be updated and this will take some time.

In other news, many of you probably saw the media coverage of Kentucky’s health insurance rate filings. The preliminary rates show requested increases ranging from 6.5 percent to 47.7 percent. Anthem will be selling statewide both on and off the exchange. CareSource will be selling in 61 counties, also on and off the exchange.

Only HMO products will be offered, unlike past years when a PPO was available in some counties.

The Department was given some flexibility by the federal government and we extended the submission date for initial rate filings on two separate occasions. This allowed carriers to take additional time to review 2017 claims data in order to make a more accurate filing for 2018 rates.

While acknowledging the uncertainty and instability in the market, we emphasized to the carriers that the best possible outcomes for Kentucky consumers must be achieved.

We do caution that the filings are preliminary and are subject to change. Our internal analysts and contract actuaries have begun the review. Final information is due to the federal exchange by Aug. 16.

If you have questions about health insurance rate filings or other issues, I hope you will feel free to contact my staff or me. I look forward to meeting more of you at upcoming events.

www.iiak.org | July/August 2017 | 5

Continuing Education

IIAK has a range of classroom and webcast continuing education courses as well as valuable designation seminars.

See below for our latest offerings.

ON-SITE COURSE:

E&O Risk Management: Meeting the Challenge of Change October 5 • IIAK Education Center

ONLINE COURSES VIA ABEN: Date/Time

Seminar Name

September 5 @ 10 am

Agency Management Based E&O and Ethics

CE Credits 3

September 12 @ 12:30 pm Annuity Basics and Where They Fit October 17 @ 11 am

1

October 11 @ 10 am

Business Auto Claims That Cause Problems

2

September 13 @ 2 pm October 24 @ 11 am

Business Fraud Protection

1

September 21 @ 11 am October 11 @ 11 am

Certificates of Insurance – Emerging Issues and Other Stuff that May Scare You!

3

September 21 @ 9 am

Commercial Lines Claims That Cause Problems

2

September 21 @ 2 pm

Commercial Property Endorsements That Can Make You Money!

2

September 5 @ 2 pm

COPE – Property Underwriting and Effective Loss Control

2

September 1 @ 2 pm October 3 @ 10 am

Data Privacy Insurance

2

September 1 @ 10 am October 3 @ 1 pm

Directors and Officers Liability Insurance

2

September 11 @ 1 pm October 9 @ 1 pm

Double Trouble - Certificates of Insurance and Business Auto Endorsements

2

September 21 @ 10 am October 3 @ 9 am

E&O Risk Management – Meeting the Challenge of Change (6 hour course)

6

September 26 @ 10 am

E&O Risk Management – Meeting the Challenge of Change (Part 1)

3

September 26 @ 2 pm

E&O Risk Management – Meeting the Challenge of Change (Part 2)

3

September 13 @ 3 pm October 24 @ 11:30 am

Estate Planning Basics

2

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Date/Time

Seminar Name

CE Credits

September 19 @ 1 pm

Ethics and Business

3

October 20 @ 2 pm

Home Based Business Exposures

2

September 22 @ 3 pm October 19 @ 10 am

Hot Topics in Personal Lines

2

October 5 @ 2 pm

Liability Issues to Worry About – Indemnity Agreements and Additional Insureds

2

September 21 @ 9 am

Long Term Care Insurance

2

September 22 @ 10 am October 19 @ 3 pm

National Flood Insurance Program Basic Course - 2016

3

September 16 @ 11 am October 12 @ 2:30 pm

Personal Fraud Protection

1

October 5 @ 2 pm

Personal Lines Claims That Cause Problems

2

September 6 @ 2 pm October 23 @ 10 am

Professional Ethics in the Insurance Industry

3

September 6 @ 2 pm October 4 @ 2 pm

Property & Liability Concepts - Comp. Cov. Series

2

September 14 @ 10 am October 12 @ 10 am

Rental Cars: More Than Meets the Eye

2

October 17 @ 1 pm

Those Kids and Their Cars!

2

September 13 @ 1 pm

Top 5 Life Insurance Uses

2

September 6 @ 2 pm October 3 @ 3 pm

What you Need to Know about Employment Law & Coverage

2

October 19 @ 9 am

Workers Compensation Beyond the Basics

3

Veteran Licensing Program All Kentucky veterans and their spouses can receive their Kentucky Insurance License and help finding a career in insurance, FREE OF CHARGE! Contact IIAK for details.

502-245-5432 or iiak@iiak.org www.iiak.org | July/August 2017 | 7

Four Ways Remote Workers Can Improve Your Agency’s Performance

By: Sharon Emek, Ph.D.

The eternal struggle most agencies face is balancing profitability and productivity. In a soft insurance market, that struggle is elevated as agency owners and managers look for ways to improve profit margins while making sure current staffing levels can handle additional business.

The future, at least in the short term, could bring more of the same for agencies. According to Deloitte’s 2017 Insurance Industry Outlook, an uncertain economic picture, along with regulatory reform, changing trade policy, and a proposed new tax structure, will impact insurer growth. Lower-interest rates are putting pressure on investment income, says the Outlook, and both homeowners and auto lines of business could be impacted by the economy.

All of this change at the top level of the industry puts additional pressure on agencies already struggling to grow and expand while keeping administrative costs in check. Yet too often, agencies overlook an area of business improvement that can add significant improvements without breaking the bank – hiring remote workers.

The Challenge of Virtual It stands to reason in today’s virtual world that workers need not be sitting in a cubicle in order to contribute. Yet it’s an alternative to the traditional employment model that many agencies have yet to embrace. Those that have are reporting agency improvements such as eliminating a backlog of work, improving accuracy, meeting shortterm hiring needs, responding faster to changing market conditions, and being better positioned to compete in a tight market.

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Yet finding the right caliber of worker has been challenging. The pool of talented candidates available locally, depending on the agency location, can pose an even tougher challenge. Then there’s the cost: most agencies simply don’t have the budget for professionals with the right amount of experience they’re requiring.

Likewise, many off-the-shelf type of staffing options do not offer the type of specialized skills that insurance agencies need. Traditional staffing options fall far short of sourcing qualified, experienced workers who understand agency operations, much less how to accurately resolve claims or handle underwriting issues.

The Remote Specialist That’s where specialized remote workers can become an agency’s secret weapon. Many retiring or retired insurance professionals are looking to supplement their retirement income, redefine their careers, head in new directions with their skills, or gain more freedom in their work-life balance. For them, working into retirement means gaining a freedom from the commute, the stress, and the long hours.

For agencies, this talent could be the best approach to addressing growth and workload needs. By drawing from a pool of retiring or retired workers who are committed to working remotely, agencies can locate the best fit at a significantly lower cost than traditional hiring arrangements. Most retiring and retired workers, or pretirees, come with decades of knowledge and skill that may not be available locally. Also, the remote arrangement allows agencies to tap into this talent pool without straining the budget.

There are plenty of benefits to hiring a skilled older worker under a work-from-home arrangement. A pretiring remote worker can: Free up staff time. Imagine a situation in which your in-house staff had the time needed to serve customers and grow the business. It can happen with a remote worker. Those administrative tasks your staff spends way too much valuable time on can be handled by a skilled insurance professional.

Reduce staffing costs. Adding to your employee pool usually comes with additional expenses – benefits, dedicated office space, training and the like. Remote workers remove nearly all of those costs, and require minimal training, usually just a few days to a week learning your management systems, if they don’t already know it.

Be a consultant. If you’ve hired a truly experienced remote worker, you have at your disposal a consultant who has worked in the industry and can advise on complex issues. And because many of these industry vets have decades of knowledge and experience, they can even help train your current staff on better ways to handle certain situations.

Improve processes. Some of the insurance professionals we’ve placed in remote work arrangements have proven to be invaluable in helping agencies find better ways to handle the business processes. The benefit to you is better productivity and happier customers, all of which translates into a better bottom line.

In an atmosphere of stiff competition and increasing demands on the agency to differentiate, a pretiring insurance professional can offer the most bang for the payroll buck. Whether one’s needs are minimal – a few days a week for a few months – or longer term, agencies can increase staff productivity by adding remote workers to the mix. The level of talent available from a national pool of committed, skilled workers could be the differentiator that helps your agency meet its growth and profitability goals.

Sharon Emek, Ph.D., CIC, is president & CEO of Work At Home Vintage Experts, an innovative contract staffing talent solution.

WAHVE matches retiring insurance professionals leaving the regular workforce to insurance firms to meet their full- or part-time staffing needs. Insurance firms benefit by improving productivity and lowering costs. WAHVE’s unique qualifying process and technology platform match the right “pretirees” wherever they may live to the needs of insurance firms wherever they are located. You can reach Emek at sharon.emek@wahve.com or 646.807.4372, ext. 3754.

.®

.

There can be no doubt that all our knowledge begins with experience. – Immanuel Kant

www.summitholdings.com

Policies are underwritten by Bridgefield Casualty Insurance Company and Bridgefield Employers Insurance Company, authorized insurers in AL, AR, FL, GA, IN, KY, LA, MS, NC, SC, TN and TX; BusinessFirst Insurance Company, authorized in FL, GA, KY, NC, SC and TN. ©2016 Summit Consulting LLC | 2310 Commerce Point Drive, Lakeland, FL 33801

www.iiak.org | July/August 2017 | 9

Another great and rain-soaked year for By: Nikki Robins Jr. Golf Tournament The 49th Trusted Choice Big “I” State Qualifier marked the 3rd consecutive year that Mother Nature played a major role for competitors. The tournament was heled at Oxmoor Country Club in Louisville on July 5 & 6 where Oliver Whatley of Louisville and Lilly Young of Shelbyville were winners in their respective divisions.

Whatley, who has committed to Rutgers University, fired an even-par round of 72 after posting a 2-under par 70 in the first round to win by four shots over Joe Muschong of Lexington and Hudson Hummel of Louisville. Muschong also qualified with rounds of 71-75=146 while Hudson grabbed the final spot in the Boys Division with rounds of 72-74=146.

Young, who also qualified last year for the National Championship, came from six shots off the pace and shot a final round 77 to finish at 155 to defeat Morgan Tinsley and Molly Bebelaar, both of Louisville, by one shot. Tinsley went on to make a par on the first hole of a sudden-death playoff to defeat Bebelaar to grab the final spot in the Girls Division.

Boys’ Division Winners (L-R) Joe Muschong (2nd), Oliver Whatley (1st), & Hudson Hummel (3rd)

Girls’ Division Winners (L-R) Lilly Young (1st) and Morgan Tinsley (2nd)

These top finishers will advance to the Trusted Choice Big “I” National Championship to be held August 7-10, 2017, at Annandale Golf Club in Madison, Mississippi.

Kentucky Employers’ Mutual Insurance (KEMI) once again hosted a long drive competition. Lexington’s Evan Davis won the Boys Division with a 335-yard drive while Lilly Young of Shelbyville won the Girls Division with a distance of 266 yards. Hudson Hummel took home honors in the 15 & under boys division with a 314 yard drive.

Editor’s Note: After initial press release, Molly Bebelaar was able to clench a spot in the Big “I” Championship in Mississippi.

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Boys Longest Drive winner Evan Davis with Todd Sallee

Girls Longest Drive winner Lilly Young with Todd Sallee

15 & under Boys Longest Drive winner Hudson Hummel with Todd Sallee

www.iiak.org | July/August 2017 | 11

Summer is the season when many people tend to take it a little easier, including your competitors. Could this be the opportune time to take advantage of someone else’s summer sluggishness?

Here are 10 common excuses about prospecting during prime vacation season—and the reality check that could turn them into a sales advantage instead.

False: It’s summer. Nobody’s around. Why prospect?

True: Nobody takes a three-month vacation.

False: It’s summer. All my prospects are out of town. I can’t prospect.

True: All prospects don’t vacation at the same time.

False: I’m going away next week. I can’t make appointments.

True: In other words, you’re taking a two-week vacation.

False: I just returned from my trip. I need to catch up. I’ll prospect next week.

True: See above. Now it’s a three-week vacation.

False: My assistant is away. I need to stick around.

True: Great. Make some calls while you stick around.

False: My assistant just got back from vacation. We need to catch up.

True: Now you’re up to four weeks.

False: It’s summer. Who can prospect in this heat?

True: Your prospects are probably in their air-conditioned offices waiting for your call.

False: Last two weeks in August? This is prime vacation time. I’ll get going after Labor Day. True: You’ve now taken a six-week vacation and wasted more than half of the summer selling season.

False: It’s Friday afternoon. Prospects close early.

True: Employees leave early. The boss stays and answers the phone.

As summer winds to a close, make sure you take some time for yourself, family and community—but keep your prospect appointments up to your standards.

False: It’s Monday morning. Prospects don’t want me to bother them now.

True: How do you know what your prospects want? You haven’t met them yet.

Tom Redmond, Jr. is an associate at East Coast Fripp who specializes in evaluating and improving client sales processes.

12 | www.iiak.org | July/August 2017

Relax...

You’ve offered each of your clients a personal umbrella policy.

Right?

It might not be quite as relaxing as a day at the beach, but knowing you’ve done everything in your power to protect the customers who trust you to help them will go a long way towards easing your mind.

Offering each and every client an umbrella not only protects those who choose to purchase the coverage. It protects your agency from liability. And it protects your book of business, since studies show that customers who have multiple policies are less likely to move their business elsewhere.

As a Big “I” member, you have access to a stand alone personal umbrella program from A+ rated carrier RLI, featuring: Limits up to $5 million available Excess UM/UIM available in all states You can keep your current homeowner/auto insurer New drivers accepted - no age limit on drivers Up to one DWI/DUI per household allowed Auto limits as low as 100/300/50 in certain cases

Competitive, low premiums for increased limits of liability Simple, self-underwriting application that lets you know immediately if the insured is accepted E-signature and credit card payment options Immediate coverage available in all 50 states plus D.C.

So cover your clients... protect your agency... and profit from umbrella sales!

Contact Jennifer Hopper, your RLI Administrator at: Email: jhopper@arlingtonroe.com Tollf Free: (800) 878-9891, ext. 8639 Local Fax: (317) 554-8551 Toll Free Fax: (888) 552-9891

Big “I” Sales & Leadership Conference We had a great turnout where 87 attendees took part in the two-day event. Keynote speaker Maureen Gallagher kicked off Wednesday morning with a presentation that had everyone feeling like a superhero. After a quick lunch it was over to Rupp Arena where attendees toured the facilities with local risk managers.

The night concluded with an evening reception and our second Pitchin’ for PAC Corn Hole Tournament.

The field was packed with 72 participants and raised more than $19,000 for our state and national PACs! Danny Greene and Logan Edelen of Roeding Insurance were the champs this year.

Deputy Commissioner Patrick O’Connor kicked off Thursday morning with current happenings in the Department of Insurance. We finished out the sessions with an interesting look at intellectual property from IPISC’s Karrie Lewis & Chuck Baxter.

The golf scramble ended a successful conference with beautiful weather and 28 players. The winning team was Kevin Kirksey, Brannon Nix, Danny Green, and Logan Edelen. Thank you to all that made their way to Lexington and for those that missed… see you next year!

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1. Maureen Gallagher 2. Rupp Arena Tour Group 3. Mike Johnson 4. Deputy Commissioner Patrick O’Connor 5. Steve Kinkade and Norma Stultz 6. Ann Heidemann, Michelle Love, Diane Hunt, John Funkhouser, Diana Norwood 7. Aimee Stumler and Robert Palmer 8. Danny Green and Logan Edelen

2

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1. Neel Ford and Paul Allison 2. Kevin Kirksy, Brannon Nix, Danny Green, Logan Edelen 3. Mark Viehmann 4. Rupp Arena megatron 5. Rupp Arena Tour group inside UK Men’s basketball locker room 6. Chuck Baxter 7. Danny Yackey and Eric Harden 8. Karrie Lewis

Golf Scramble Results First Place Team Logan Edelen Danny Green Brannon Nix Kevin Kirksy

Second Place Team Closest to the Pin Neel Ford Brad Felts Paul Allison Nick Rolf

Logan Edelen Brian Smith John Funkhouser

Save These Dates Check out these great events near you!

Joint IN/KY Young Agent Event September 28

Louisville Mega Cavern & Evan Williams Distillery, Louisville

E&O Risk Management: Meeting the Challenge of Change (ON SITE CLASS!) October 5

IIAK Education Center, Louisville

Young Agent Day at Keeneland October 13, 2017

Keeneland Racecourse, Lexington

121st Annual Convention & Trade Show November 8-10

The Brown Hotel, Louisville

www.iiak.org | July/August 2017 | 15

out what IIAK offers YOU Which benefits are you using?

advocates

Protecting the insurance industry, you, and your clients 1 Dedicated Lobbyist 2 Contract Lobbyists KAPAC InsurPac First Call Free Legal

Knowledgeable staff Liaison with DOI Legislative Bulletin Road Shows

brands Don’t go at it alone

Trusted Choice Website & Social Media Review Customizeable Advertising Materials Graphic Design Services Sales & Marketing Training TrustedChoice.com Enhanced Advantage subscription Marketing Reimbursement Program (MRP) Alleviate part of the advertising & marketing budget with MRP!

communicates Information at your fingertips

Website Content www.iiak.org Kentucky IA magazine IIAK Insider weekly eNewsletter Legislative Bulletin

Social Media Agents Council for Technology (ACT) Virtual University “Ask an Expert” Toolkits

works

Staffing solutions for every situation

WAHVE Agent’s Guide to Interns KY Jobs board on iiak.org (coming soon!)

National Career Center with IIABA Veteran’s Licensing Program Discounts on Caliper testing

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insures

Protect your business & your clients Coverage for your agency Professional Liability Anthem Group Health Plan Cyber Liability Insurance EPLI Coverage Agency Umbrella

Coverage for your clients Big “I” Markets RLI: Personal Umbrella RLI: At Home Business Eagle Agency Flood through Selective

networks

Connect, have fun, and learn October 5, 2017 E&O Risk Management Meeting the Challenge of Change September 28, 2017 Kentucky & Indiana Young Agent Event

October 13, 2017 Young Agent Day at Keeneland November 8-10, 2017 121st Annual Convention & Trade Show February 20-23, 2018 CRM: Financing of Risk

saves

Saving your agency money every step of the way First Call Free Legal Telecom Services WAHVE Caliper Discount UPS Shipping Discount Agency Auditing & Consulting

Docusign Discount Hertz Rental Discount Marketing Reimbursement Program (MRP) Brooks Brothers Corporate Discount

educates

Find what you need, when you need it

Online Training for New Hires New Producers learn advanced skills with eLearning Modules Courses to satisfy Ethics Requirements Earn E&O Policy Discounts Meet your Flood Training requirements with NFIP Basic Course Designation Programs (CRM) Veterans Licensing Program Best Practices learning builds desired skills

Commercial Lines: 

Kentucky Product Availability Big “I” Markets (BIM) is the IIABA member’s online market access program with no fees, no volume commitments and competitive commissions.

Personal Lines: 

Affluent Package 

AIG



Chubb

Bonds 

Bid



Contractor



Performance



Surety



Other



Commercial Lessors’ Risk



Community Banks Business Insurance Program



Cyber Liability



Employers‘ Practices Liability



Fidelity/Crime (Wrap+)



Financial Advisors’ E&O



Flood - In, Above & Outside of the NFIP!



Habitational Markets



At-Home Business



Collector Car Policy



Flood - In, Above & Outside of the NFIP!



Highly Protected Risks



Marine Insurance



Insurance Company Professional & Business Insurance Program





Apartments



Condo and Homeowner Associations



Charter Boat



International Advantage



Mega-Yacht



Miscellaneous Professional Liability



Performance Boat



Non-Profit D&O Liability



Real Estate Agents / Property Manager E&O



Personal Watercraft



Stand-alone Fine Art and Valuable Articles Program



Small Boat under 27 feet



Technology Consultants Prof. Liability



Yacht



Travelers Select Accounts

Non-standard Homeowners



Apartment Pac



Building Pac



Business Pac



Commercial Auto



Non-standard Homeowners & Rental Dwellings



Condos



Condominium Pac



Rentals



Contractors Pac

Vacant Dwellings





Garage Pac



Office Pac



Religious Pac



Restaurant Pac



Store Pac



Technology Office Pac



Workers’ Compensation



Personal Excess Policy



Personal Umbrella Policy



Stand-alone Fine Art and Valuable Articles Program



Travel Insurance



Wrap+ Executive Liability for Private Companies

Online Registration We’ve made it easier than ever to Plug into the Power of Big “I” Markets! Register online today and discover a fresh new way to do business. All products are only accessible online and coverage is subject to licensing compliance and underwriting approval. To register online you will need your login ID and password, your agency tax ID number, your agency E&O policy, and your state agency/agent license information (where applicable). Log on to www.bigimarkets.com today to begin the registration process and start quoting in minutes!

www.iiak.org | July/August 2017 | 17

We’re here for you! If you have questions,

Peggy P. Porter President & CEO pporter@iiak.org

Amy Good

Administrative Assistant agood@iiak.org

Coverage for your Agency

Membership

Coverage for your Clients

News & Resources

Professional Liability Insurance – Kristie Weyer Anthem Group Health Plan – Kristie Weyer Cyber Liability Insurance – Kristie Weyer EPLI Coverage – Kristie Weyer Agency Umbrella – Kristie Weyer Big I Markets – Kristie Weyer RLI: Stand Alone Personal Umbrella – Kristie Weyer RLI: At Home Business – Kristie Weyer Eagle Agency – Kristie Weyer Flood – Kristie Weyer

Katie M. Freshley

Education & Events Director kfreshley@iiak.org

Address Change – Amy Good Agency Personnel Change - Any staff member Benefits – Tara Purvis Payments – Tara Purvis/Amy Good Student Membership – Tara Purvis

Work At Home Vintage Experts (WAHVE) – Tara Purvis Career Center – Access through www.iiak.org Agent’s Guide to Interns – Download @ www.iiak.org

Website Content – Nikki Robins Toolkits – Download @ www.iiak.org Kentucky IA Magazine - Nikki Robins IIAK Insider eNewsletter - Nikki Robins Legislative Bulletin – Peggy Porter Virtual University – Research Library - IIABA.net Virtual University – Ask An Expert – IIABA.net Social Media – Tara Purvis Agent’s Council on Technology (ACT) – IIABA.net Marketing Reimbursement Program (MRP) – Nikki Robins

Education & Training

Networking & Events

Staffing Solutions

Classroom – Katie Freshley Agent’s & Brokers Education Network (ABEN) – Katie Freshley CRM Designation – Katie Freshley Compliance – Katie Freshley New Level Partners (New Hire Training) – Katie Freshley Veteran Licensing Program – Tara Purvis 18 | www.iiak.org | July/August 2017

Sales & Leadership Conference – Katie Freshley/Amy Good Road Shows– Katie Freshley Annual Convention & Trade Show – Katie Freshley Young Agent’s Day at Keeneland – Katie Freshley Young Agents – Katie Freshley Legislative Day – Katie Freshley

here’s who will know the answers.

Tara T. Purvis

Marketing Director tpurvis@iiak.org

Nikki S. Robins

Communications Director nrobins@iiak.org

Government Affairs

Legislative Issues – Peggy Porter Lobbying – Peggy Porter Insurance Laws – Peggy Porter Kentucky DOI Liaison – Peggy Porter Political Action Committees InsurPac - Peggy Porter KAPAC - Tara Purvis

Agency Operations and Services

Trusted Choice – Nikki Robins TrustedChoice.com – Nikki Robins First Call Free Legal – Peggy Porter/Tara Purvis Caliper - Access through www.iiak.org Agency Audit (The Moberg Group) – Kristie Weyer UPS Shipping Discounts - Access through www.iiak.org Telecom Services – Tara Purvis Insurbanc – Tara Purvis Docusign - Access through www.iiak.org Best Practices – IIABA.net Retirement Programs – IIABA.net

Contact us at iiak@iiak.org Local call: 502-245-5432 Toll free: 866-426-4425

Kristie Weyer, CISR

Insurance Services Director kweyer@iiak.org

Administrative

Accounting – Tara Purvis Agency Visits – Tara Purvis Association Governance – Peggy Porter Board Functions – Peggy Porter Convention Exhibitors – Katie Freshley/Amy Good All Education & Event Registration – Amy Good Industry Partner Program – Tara Purvis Insurance Technical Questions – Kristie Weyer/Peggy Porter Kentucky Premium Finance – Kristie Weyer Leadership Opportunities – Peggy Porter Public Relations – Nikki Robins Website ID & Password Inquiry – Amy Good Local Boards – Katie Freshley

The colors used in this list correspond with the colors of the headers of where they can be found on our website, www.iiak.org • • • • •

Membership Products & Services Education & Events Government Affairs News & Resources

www.iiak.org | July/August 2017 | 19

The CSR of the Year Award is given to an individual working in an IIAK member agency as a customer service representative, who typifies the ideals of service. This person’s experience, education, community service and attitude may be taken into consideration in the judging for this award. A person may be licensed or not to be considered for this award.

The award will be presented at the 121st IIAK Annual Convention in Louisville on November 9, 2017.

Nominations must be received by IIAK by end of work day, September 1, 2017. Please be as thorough as possible and please use additional sheets of paper if necessary in any category below.

Candidate Information Nominee Name: _____________________________ Agency Name: _________________________________________ Agency Address: ____________________________________________________________________________________ Phone: _____________________________ Email: ________________________________________________________ Education/Work Experience: __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ Organizations involved in/offices held: __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ Significant achievements in business/career: __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ Significant achievements in community/state/country: __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ I believe this person should receive the CSR of the Year Award because: __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ Nominator Name: __________________________________________________________________________________ Full Address: _______________________________________________________________________________________ Phone: ____________________________ Email: _________________________________________________________ Please submit this form by: Fax: (502) 245-5750 Email: iiak@iiak.org Mail: 13265 O’Bannon Station Way, Louisville, KY 40223

20 | www.iiak.org | July/August 2017

Forms also available online at www.iiak.org/csraward

The E. Starling Holloway Award is given to honor an individual who has made a significant industry contribution, enhanced the ideals and reputation of the insurance industry, or made a significant contribution to his or her community, state or country. This award is open to all felt worthy of the honor and does not have to be a member of the IIAK and/or does not have to be working in the insurance industry.

The award will be presented at the 121st IIAK Annual Convention in Louisville on November 9, 2017.

Nominations must be received by IIAK by end of work day, September 1, 2017. Please be as thorough as possible and please use additional sheets of paper if necessary in any category below.

Candidate Information Nominee Name: ____________________________________________________________________________________ Full Address: _______________________________________________________________________________________ Phone: _____________________________ Email: ________________________________________________________ Education: __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ Organizations involved in/offices held: __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ Significant achievements in business/career: __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ Significant achievements in community/state/country: __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ I believe this person should receive the E. Starling Holloway Award because: __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ Nominator Name: __________________________________________________________________________________ Full Address: _______________________________________________________________________________________ Phone: ____________________________ Email: _________________________________________________________ Please submit this form by: Fax: (502) 245-5750 Email: iiak@iiak.org Mail: 13265 O’Bannon Station Way, Louisville, KY 40223

Forms also available online at www.iiak.org/hollowayaward www.iiak.org | July/August 2017 | 21

© SECURA Insurance

BECKY • Holds a degree in education and loves to learn • Walked in your shoes at a large insurance agency • More than a decade of insurance experience

Head of the class Meet Becky, one of our Commercial Lines experts. She and her colleagues are well-schooled on how to get business done. Their spot-on approach and prompt turnaround make top grades.

These are the standards we expect to remain best-in-class. And they’re supported by our caring claims group who will get your clients back in session.

SECURA Commercial. It’s how you get ahead.

22 | www.iiak.org | July/August 2017

Commercial | Personal | Farm-Ag | Specialty

8 Powerful Features to Help You Use TrustedChoice.com to the Fullest By: Ryan Hanley

Independent agents serve the market by providing options to clients with unique needs. Whether a client wants to insure a collection of high-end art or they have a questionable driving record and can’t get accepted by the major insurance agencies – there’s an independent agent with the right solution.

However, being on your own without the resources of a large insurance firm to back you up makes it more challenging to generate leads. You need a way to connect specific prospects with your specific services.

Fortunately, there’s a solution that benefits both agents and clients – TrustedChoice.com.

Trusted Choice helps you build brand awareness and connect with potential clients of all types, from businesses to consumers. That doesn’t mean you can create a basic profile and leads will start pouring in, though.

The agents who get the best results on Trusted Choice are deliberate in how they optimize their profiles and use their account. In this article, we’re going to share 8 powerful features to help you reach more people and maximize your lead generation from Trusted Choice.

Include Photos of You and Your Team

People connect with people, and that’s why your profile needs to have photos for prospects to see the people behind the brand. Ideally, you would like to have a photo of yourself and the key members of your team.

In addition to creating a deeper connection, you also create more opportunities for people in your local network to spot a member of your team that they know – making your agency instantly stand out.

Add a Video

Now you’ve got some high-quality images on your page – the next powerful feature you want to take advantage of is video.

By default, Trusted Choice provides a video you can use.

However, you want to add a custom video as soon as possible to add more depth and maintain a consistent brand image.

Your video doesn’t need to be a full-length film or anything complicated. You simply want to provide a brief, personable introduction to your agency. www.iiak.org | July/August 2017 | 23

Leverage Testimonials

Even more powerful than photos and video, testimonials make a huge difference in how well agency profiles perform. The modern buyer relies on testimonials and reviews to make smart purchasing decision – and it’s one of the driving factors that attracts potential clients to Trusted Choice in the first place.

If you already have some testimonials, you absolutely want to list them on your page. Otherwise, you want to get some testimonials as soon as possible.

Rather than waiting around for your clients to send you a testimonial, you can always reach out to them and ask for

honest feedback. This also gives you a chance to address any concerns you might not have known about, if you happen to get any critical feedback.

List Every Insurance Type and Industry You Cover

A common mistake agencies make is not thoroughly completing their agency profile on Trusted Choice. This severely limits the effectiveness of your profile.

In your dashboard, you have the option to select the types of insurance coverage you provide, along with the industries you cover. It’s important to select everything you cover because your coverage selections will determine which search results your agency profile appears in.

Since Trusted Choice users are looking for specific solutions, you will only show up in search queries that are relevant to your agency.

Set Your Preferences for Types of Clients You Don’t Target

Something you won’t see on an agency profile, but you have access to from your dashboard, is the ability to set preferences for which types of businesses/prospective clients you do and don’t want to target.

This prevents your agency from showing up in search results for prospects who aren’t in your target market, as well as ensuring you show up in the search results for your ideal clients.

Take Advantage of Top Search Engine Rankings

One of the hidden benefits of having a Trusted Choice agency profile is the SEO you stand to gain.

PROFESSIONAL LIABILITY BROKERAGE PROPERTY & CASUALTY GARAGE LIABILITY TRANSPORTATION SURETY PERSONAL LINES

(800) 666-5692 | JMWILSON.COM

24 | www.iiak.org | July/August 2017

Trusted Choice has spent years building their web presence and establishing their authority as a trusted resource for insurance buyers. As such, their SEO is extremely powerful – resulting in over 3,000 #1 rankings for insurance keywords.

That means several things for you: • More potential brand awareness • Your agency profile can outrank competitor websites • You can benefit from Trusted Choice’s SEO by linking to your website from your profile

Connect Your Agency Profile to Social Media

In addition to linking to your website, you can also connect your Trusted Choice agency profile with your various social media profiles to further engagement with your brand. This allows you to create more context for your agency profile and gives prospects more opportunities to research your agency.

Don’t Be Afraid to Sell

One of the key factors that differentiates Trusted Choice from social media networks is that people go to social media to be social and they go to Trusted Choice to research and shop insurance.

That means Trusted Choice users are further in the decision-making process than other online users.

With that in mind, you are free to get straight to the point on your agency profile and highlight the reasons a prospect should choose you. Be sure to include a call-toaction at the end of your About Us section, as well as in your video.

The Rub

Trusted Choice is easily one of the best solutions an independent insurance agency could use.

Between their powerful network and the friendly userexperience for prospects to find the right agents, it’s a win-win for everyone involved.

However, you can’t throw together a bare minimum agency profile and expect maximum results.

Fortunately, if you put in the little bit of extra work upfront, you’ll have a stellar profile that continues to attract new clients to your agency for years to come!

Ryan Hanley is the SVP of Marketing at TrustedChoice.com and the Managing Editor of Agency Nation. Ryan has been teaching the business of inbound and content marketing since 2009 through writing, workshops and keynote speaking.

GET WISE about your agency RISK MANAGEMENT.

Swiss Re Corporate Solu ons policyholders: Don’t miss out on the invaluable risk management resources available exclusively to you. Log in to www.iiaba.net/EOHappens to access claims sta s cs, preven on tools, insigh ul ar cles and more.

the Big “I” Professional Liability Program Prevent.

Our exclusive risk management resources help your agency avoid making common preventable mistakes.

Protect.

Our superior coverage through Swiss Re Corporate Solu ons and our experienced claims teams are in your corner in the event of a claim.

Prosper.

When you know you have the best agency E&O Protec on, you can focus on growing your most important asset–your business.

The Big “I” and Swiss Re Corporate Solu ons are commi ed to providing IIABA members with leading edge agency E&O products and services. The IIABA and its federa on of 51 state associa ons endorse the comprehensive professional liability program offered by Swiss Re Corporate Solu ons.

Visit www.iiaba.net/EOContact to connect with your state association today.

Insurance products underwri en by Westport Insurance Corpora on, Overland Park, Kansas.

Westport is a member of the Swiss Re group of companies and is licensed in all 50 states and the District of Columbia. © 2014

.

We know what it took to build this unique business.

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Underwriters who know and understand what coverages are necessary for each unique business.

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As an Official Supplier of the Silver LiningÂŽ, you and West Bend will find a specialized insurance plan for your valued customers.

To find out more, talk to your West Bend underwriter.

Architect’s Group Publishes New Forms By: Rick Pitts

insurance specifications from a brand-new 2017 AIA agreement tomorrow (at least theoretically), or next month, or next year, or perhaps never. There are a couple of reasons for this observation.

First, the AIA forms aren’t mandatory at all; construction project owners – and especially private rather than public owners – are free to use whatever form they want. So, too, are general contractors generally able to use whatever form they want. Second, the main, commercial AIA forms can be pretty “big,” and practicality might dictate that they are employed only for the major, multi-million-dollar projects that don’t come along every day.

At this year’s Regional Meetings, one of the updates we discussed was the development of new construction contract forms from the American Institute of Architects (AIA). A brief (and highly unscientific) survey of meeting attendees showed a vigorous market for contractors to which insurance professionals must respond.

So, the new forms deserve a bit more attention and wider publicity. We’ll start with what the AIA is. It’s a national professional association for architects and a leader in the construction industry. The AIA has, over many decades, positioned itself as a frontrunner specifically in developing construction contracts. It’s not the only major writer of construction forms, as the Associated General Contractors of America and the Design-Build Institute of America (just to name a pair) also contribute significant agreement forms to the mix.

The AIA’s library of forms has undergone a revision just about every decade since the early 1970’s. Significant revisions were made in 1977, 1987, 1997, 2007 and now 2017. Some of the older forms are still widely employed in the construction industry, so date-checking the version being used is always a good idea.

On the subject of dates, we discussed at the Regional Meetings that an insurance professional could see 28 | www.iiak.org | July/August 2017

AIA forms are worth discussing, though, because they capture the construction industry’s current thinking about things like risk management, risk transfer, and insurance specifications. And that’s where we are especially interested, even if we are not asked to put AIA insurance specifications under a microscope every day.

What’s all that mean? Well, even if you’re never asked to decipher an AIA form for a construction contractor, you’ll still want to know what’s in the AIA forms. It provides at least context, and perhaps a bit of history, when you encounter new or unusual specifications.

The 2017 AIA forms give those specifications plenty of attention, both substantively and as a matter of formatting. The 2017 forms introduce something called the “Insurance and Bonds Exhibit,” which, from a formatting perspective, moves many of the significant insurance requirements to a single location in the back of the contract document. The substance of the Exhibit broadens the choices that owners and contractors must make about how to insure the project. It also alters some industry-standard practices. That’s not a bad thing, though, and in some cases, it can be really good news.

An example is the big change on additional insured status. For decades before 2007, the AIA forms

structured the indemnification clause and the insurance specifications such that additional insured status for the owner was, practically speaking, required. Ten years ago, the AIA documents were changed to require explicitly that the general contractor name the project owner as an additional insured.

The evolution continues in 2017 with the following new language: “To the extent commercially available, the additional insured coverage shall be no less than that provided

by Insurance Services Office, Inc. (ISO) forms CG 20 10 07 04, CG 20 37 07 04, and, with respect to the Architect and the Architect’s consultants, CG 20 32 07 04.”

For an insurance professional, this is quite good news.

Practically speaking, the use of industry standard additional insured forms now presents itself as a “safe harbor” for knowing if the blanket of general contractor’s insurance was appropriately thrown over the owner and the architect. Prior to this 2017 change, insurance professionals were left with a guess – educated though it might be – as to whether industry standard forms met the contract requirements. Calling out an ISO endorsement by number now severely curtails the “educated guessing.”

One can only hope this type of precision will become more standard in construction and insurance specification writing. So too one can only hope the phraseology of “to the extent commercially available…” becomes a standard part of our specifications language and practice.

Another substantive change being ushered in by the new Insurance Exhibit A is actually a series of limits on what the general contractor’s commercial general liability can exclude. For instance, insurance specification §A.3.2.2.2.7 says that “The Contractor’s Commercial General Liability policy…shall not contain an exclusion or restriction of coverage for…claims related to residential, multi-family, or other habitational projects if the Work is to be performed on such a project.”

Similarly, specification §A.3.2.2.2.9 says that the CGL cannot exclude, “claims related to exterior insulation finish systems (EIFS), synthetic stucco or similar exterior coatings, if the Work involves such coatings or surfaces.”

If the contractor is working with EIFS, the commercial general liability policy cannot exclude EIFS or synthetic stucco.

That type of insurance specification seems eminently reasonable; the basic coverage should not exclude the very type of work being planned. Of course, technical compliance issues could arise. Many carriers exclude EIFS from a CGL coverage, for instance, as a matter of course.

The coverage may have to be supplied by a stand-alone policy, which strictly speaking would not comply with an insurance requirement concerning a CGL. This technical issue actually illustrates the good news in the AIA form. Stand-alone versus incorporated coverage for EIFS (again…on an EIFS project) could become a solvable problem of contract administration rather than being the intractable problem of unmodifiable and commercially unobtainable insurance contract specifications.

The AIA Insurance Exhibit creates a series of discussion points like this, based on what the work or construction project actually is. For instance, a later section (§ A.3.28) says that if the general contractor is, “required to furnish professional services as part of the Work, the Contractor shall procure Professional Liability insurance covering performance of the professional services…” The per-claim and aggregate limits are manuscripted.

What this specification format encourages is communication, and resolution, of scope-of-work and risk transfer issues before, not after, they arise. Are professional liability limits being required? Why? What are the owner’s expectations? The contractor’s? Does the owner think an on-the-fly, field modification is a design change that triggers “professional services” and want the coverage in place before work starts? Does the contractor disagree?

Richard S. Pitts, IIAK’s General Counsel is also part of our newest member benefit, First Call Free Legal. Members receive up to a 30-minute phone consultation on an insurance or agency-related matter once a year at no charge. Contact IIAK for more information.

The translation for both? If the general contractor is working on a multi-family housing project, the commercial general liability policy can’t exclude multi-family housing. www.iiak.org | July/August 2017 | 29

Want to be an Industry Partner?

Contact Tara Purvis Marketing Director tpurvis@iiak.org

IIAK would like to welcome our newest members:

Thank You 2017 Industry Partners (as of 08/01/17) Diamond

Platinum

Gold

Lebanon

Acuity KEMI Liberty Mutual Risk Placement Services, Inc. Safeco

NV Insurance

Silver

Agency Members Higdon Insurance Agency

Louisville

South Central Insurance LLC Somerset

Associate Members First Insurance Funding United Mail For information regarding IIAK membership, contact Tara Purvis, Marketing Director 502-245-5432 • tpurvis@iiak.org

30 | www.iiak.org | July/August 2017

AFCO Amerisafe, Inc. Grange Insurance Company Keystone Insurers Group KY Associated General Contractors Motorists Insurers Group Secura Insurance State Auto Insurance Company

Bronze Alexander J. Wayne & Associates Anthem Blue Cross & Blue Shield Auto-Owners Insurance Company BITCO Insurance Companies Burns & Wilcox LTD Columbia Insurance Group FCCI Insurance Group FFVA Mutual Insurance Company Frankenmuth Mutual Insurance

InsurBanc J.M. Wilson KESA Market Finders Insurance Corp Midwestern Insurance Alliance Prime Insurance Companies SwissRe Corporate Solutions Summit Westfield Insurance

Commercial Lines Coverage Checklist Name

Address

Home phone (

)

–

Office phone (

Contact

)

– Today’s date

■ Package

/

Location 1.

■ Building

■ Contents

1 = Coverage recommended

Location 2.

■ Building

■ Contents

2 = Coverage rejected by insured

Location 3.

■ Building

■ Contents

1 2 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

■ Monoline

/

Property BS = Basic Form BR = Broad Form SP = Special :$ Blanket Buildings: 1. ■ BS ■ BR ■ SP $ 2. ■ BS ■ BR ■ SP $ 3. ■ BS ■ BR ■ SP $ Causes Exclusion: Additional Covered Property, 14 10 Additional Building Property, 14 15 Additional Property Not Covered, 14 20 Replacement Cost Option Agreed Value Option Inflation Guard % Multiple Deductible, 03 20 $ Debris Removal—Limit, 04 15 $ Newly Acquired—Limit, 04 25 $ Functional Bldg. Valuation, 04 39 Ordinance or Law Coverage, 04 05 Condominium Association, 00 17 Condo Unit-Owner, 00 18 Condo Unit-Owners Optional, 04 18 Legal Liability Coverage, 00 40 Builders’ Risk, 00 20 Outdoor Signs, 14 40 $ ___________ Glass Insurance, 00 16 Deductible $ Personal Property: 1. ■ BS ■ BR ■ SP $ 2. ■ BS ■ BR ■ SP $ 3. ■ BS ■ BR ■ SP $ Property of Others (1.c.) $ Leased Property, 14 60 $ ___________ Separation of Coverage, 19 10 Causes Exclusions: Multiple Deductible, 03 20 $ Replacement Cost Option Agreed Value Option Market Value–Stock, 99 31 Mfg. Consequential Loss, 99 02 Mfg. Selling Price, 99 30 Functional Valuation, 04 39 Reporting Form, 13 10 :$ Peak Season, 12 30 Off Premises Power Failure, 04 17 $ ___________ ■ Incl. Transmission Lines Spoilage Coverage, 04 40

©1994 Independent Insurance Agents of Texas

1 2 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

Property cont’d.

Time Element Specify Locations/Blanket Business Income & Extra Expense $ Business Income Without E.E. $ Extra Expenses $ Rental Value $ Dependent Property $ Tuition Fees $ Leasehold Interest $ Maximum Period of Indemnity Option Monthly Limitation: Agreed Value Option Extended Period of Indemnity: Ordinary Payroll, 15 10: Power, Heat, Ref. Deduction, 15 11: Electronic Media, 15 19: Ordinance or Law, 15 31 Off. Premises Services, 15 45

General Liability ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

Occurrence $ General Aggregate $ Products Aggregate $ Fire Damage Limit $ Per Project/Premises Aggregate, 25 03, 25 04 Seperate project/premises limit, 25 01 Employment Practices Exclusion, 21 47 Exclude Products, 21 04 Exclude, x, c, u, 21 42, 21 43 Exclude Professional Exclude Intercompany products, 21 41 Exclude: Additional Insured: Liquor Liability, 24 08 Deletes exclusion Products Redefined, 24 07 Personal Injury Contractual, 22 74 Waiver of Subrogation, 24 04 Employee Benefits Liability

Inland Marine ■ ■ ■ ■

■ ■ ■ ■

Signs, 00 28 Valuable Papers, 00 67 Accts. Receivable, 00 66 Cameras/Musical (00 21)

$ $ $ $

5/99 | 31 www.iiak.org | July/August 2017

1 2 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

Inland Marine cont’d.

Phys. & Surg. Equip., 00 26 Fine Arts Equipment Floater Installation Floater Builders’ Risk Bailee Liability Motor Truck Cargo Installment Sales Patterns, Dies, Molds Mail Replacement Cost Additionally Covered Property Reporting

$ $ $ $ $ $ $ $ $ $

Crime ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

■ ■ ■ ■ ■ ■ ■ ■ ■ ■

A. Employee Dishonesty B. Forgery/Alteration C. M&S Inside M&S Outside D. Robbery Safe Burglary E. Premises Burglary H. Premises Theft Robbery I. Robbery Safe Burglary Form Q

$ $ $ $ $ $ $ $ $

Boiler & Machinery ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

$ Object Form ■ Including Production, 00 31 ■ Excluding Production, 00 30 Small Business B&M Small Business–Broad Form Spoilage Business Interruption ■ Actual Loss Sustained ■ Valued Forms Extra Expense Explosion Elimination Deductible

■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

$ $ $ $

Liability ■ Hired/Nonowned Only $ Med Pay/PIP $ UM/UIM $ Other Than Collision deductible $ Specified Causes Collision deductible $ Individual Named Insured, 99 17: Additional Insured–Lessor, 20 01 Additional Insured: Employees as Insureds, 99 33 Drive Other Car, 99 10: Garagekeepers, 99 37 Hired Car Physical Damage Sound Receiving/Trans. Equipment/Stereos, 99 08 Tapes & Records, 99 30 Rental Reimbursement, 99 23A

©1994 Independent Insurance Agents of Texas

32 | www.iiak.org | July/August 2017

■ ■ ■ ■

■ ■ ■ ■

Business Auto cont’d.

Towing & Labor TxDOT Filing Mexico Coverage Limited, 04 07

Workers’ Compensation ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

Employers’ Liability $ Other States: Monopolistic State Operations ■ Stopgap Coverage (Employer’s Liability) Foreign Operations USL&HW Maritime Voluntary Compensation Sole Proprietor, Officers, Partners Coverage Waiver of Subrogation Alternate Employer Notice of Material Change Endorsement

Electronic Equipment Protection ■ ■ ■ ■ ■ ■ ■ ■

■ ■ ■ ■ ■ ■ ■ ■

Hardware $ Media $ Business Interruption $ Extra Expenses $ Mechanical Breakdown Electrical Injury Automatic Extinguisher Interruption of Power Off Premises

Miscellaneous

Business Auto ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

1 2

■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

Umbrella Liability $ Professional Liability Flood Earthquake Difference in Conditions Directors & Officers Liability Watercraft Aircraft Fiduciary Liability ■ Incl. Employee Benefit Mgmt.

Employment Practices Liability Environmental Impairment Liability Foreign Products/Operations Discontinued Products/Operations Bonds Life Health Disability Income

The recommended coverages have been discussed with me, and I agree to reject the coverages indicated: ✗ Independent Insurance Agents of Texas

5/99

Personal Lines Coverage Checklist (ISO Version)

Name

Address

Home phone

)

–

Office phone

Revised by

)

– Today’s date

/

/

1 = Coverage on policy or reccommended 2 = Coverage rejected by insured 1 2

Primary Residence /

Effective date HO Form Deductible: $ Coverage A. Dwelling Coverage B. Other Structures Coverage C. Personal Property Coverage D. Loss of Use Coverage E. Personal Liability Coverage F. Medical Payments

1 2

/

Occupied Rented Location / Effective date Complete separate checklist

$ $ $ $ $ $

Liability Options Personal Injury Coverage HO 24 50 Watercraft Liability HO 24 75 Business Pursuits Liability HO 24 71 Additional Residence Rented to Others HO 24 70 Incidental Farming Personal Liability HO 24 72 Farmers Personal Liability HO 24 73

Other Options

Rented to Others /

Dwelling Fire Policy

Property Options Replacement Cost for Personal Property HO 23 04 Specified Additional Amount on Dwelling HO 04 20 Increase Limit Jewelry/Furs/etc. HO 04 65 $ Increase Business Per. Prop. HO 04 12 $ Special Computer Coverage HO 04 72 $ Wind and Hail Exclusion HO 04 70 Exclusion, Residential Community Property HO 42 10 Scheduled Personal Property HO 04 60 (Inc. Breakage ) $ Wind and Hail Deductible HO 03 12 $ Replacement Cost for Structures HO 04 43 Water/Sewer Back-Up HO 04 69 Identity Fraud Expense Coverage HO 42 97 Home Business Endorsements Refrigerated Property Coverage HO 04 98 Golf Cart Physical Damage Coverage HO 05 28 Water Damage Coverage HO 04 67 Foundation Coverage HO 04 68

Secondary Residence

%

Dwelling Policy Form: Deductible $ A. Dwelling $ B. Other Structures $ C. Personal Property $ D. Fair Rental Value $ Liability and Medical Payments Added to Homeowners Replacement Cost Buildings DP 00 08 Windstorm exclusion DP 05 51 Windstorm or Hail Deductible DP 03 12 Broad Theft Coverage DP 04 72: On-Premises $ Off-Premises $ Foundation Coverage DP 05 56 Water Damage Coverage DP 05 57

Farm & Ranch Primary Secondary Rental / / Effective Date: Farm Property Cov. A. Dwelling Cov. B. Other Private Structures Cov. C. Household Personal Property Cov. D. Loss of Use Cov. E. Schedule Farm Personal Property Cov. F. Unscheduled Farm Personal Property Cov. G. Other Farm Structures Causes of Loss Form-Basic Causes of Loss Form-Broad Causes of Loss Form-Special Mobile Agricultural Machinery & Equipment Livestock Scheduled Personal Property Sewer and Sump Backup FP 04 02

$ $ $ $ $ $ $

$ $ $

Additional Insured Condo Rental to Others HO 17 33 Loss Assessment HO 04 35 Condo Unit Owner Cov. A Special HO 17 91 Condo Unit Owner Cov. C Special HO 17 90

www.iiak.org | July/August 2017 | 33

1 2

Farm Liability

1 2

Life/Health Life: Whole Term Universal IRA Major Medical Disability Long Term Care

Limits: Each Occurrence- BI&PD $ Each Person/Org.- PI&AI $ Each Person- Medical Expense $ Each Fire- Fire Damage $ General Aggregate $ Additional Farm Premises Rented to Others FL 04 29 Business Activities FL 04 43 Limited Crop Dusting Coverage FL 04 44 Farm Employers Liability and Medical Payments FL 04 65 Custom Farming Liability FL 04 69 All-Terrain Vehicle Coverage FL 04 74

$ $ $ $ $ $ $

Flood /

Effective date Building Contents

/

$ $

Watercraft/Aircraft Effective date Liability Passengers Medical Payments Physical Damage

/

/

$ $ $ $

Miscellaneous Umbrella Retention Self-Insured Earthquake Inland Marine: 1.

2.

3.

4.

Personal Automobiles / / Effective date Liability Uninsured/Underinsured Motorist Medical Payments Personal Injury Protection Collision deductible Other than Collision deductible Additional Insured: Lessor PP 03 19 Extended Nonowned PP 03 06 Electronic Equipment PP 03 13 Customizing Equipment PP 03 18 Transportation Expenses PP 03 02 Towing & Labor PP 03 03 Mexico Limited Coverage PP 03 21 AD&D PP 13 65 Named Nonowner PP 13 91 Miscellaneous Vehicles PP 03 23 Motor Home Rental PP 03 28 Covered Autos: (1) (2) (3) (4) Joint Ownership Coverage PP 03 34 Auto Loan/Lease “GAP� Coverage PP 03 35 Trust Endorsement PP 13 03 Named Driver Exclusion:

$ $ $ $ $ $

:$ :$ :$ :$

Describe Other Coverages

The recommended coverages have been discussed with me, and I agree to regect the coverages as indicated: x

34 | www.iiak.org | July/August 2017

$ $ $

WE’RE SOCIAL Follow us on your favorite social media sites.

Facebook facebook.com/IIAKentucky facebook.com/YAofIIAK

Classifieds Acquisitions

Looking for Producers

Established Louisville agency interested in acquiring insurance agencies in Jefferson and surrounding counties. If you are interested in selling, merging, or need assistance with perpetuation, we would like to talk with you in confidence.

Independent with top best markets looking to expand presence in Jefferson, Oldham or Shelby counties. Wanting Personal lines, Producer or book of business to move or purchase. All arrangements possible, in strict confidence.

Call R. Alex Rankin, CPCU or Philip Anderton, CIC, at Sterling G. Thompson, Co. at 502-585-3277

Please send inquiries to Turner Insurance Agency, 2460 Shelbyville Road, Shelbyville, KY 40065 or call Kurt Turner, CPCU at 502-633-6060.

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Amerisafe Big “I” Markets Bolton & Company J.M. Wilson KESA

11 17 OBC 24 IFC

RLI Personal Umbrella Secura Summit Consulting Swiss Re Professional Liability West Bend Mutual Insurance

13 22 9 26 27

For classified ads or to advertise in the Kentucky IA, contact: Nikki Robins, Communications Director at nrobins@iiak.org or call 502-245-5432.

www.iiak.org | July/August 2017 | 35

Our new vacant building program covers buildings up to $3.5 million.

Vacant buildings pose a special risk.

Vandalism, property damage, potential lawsuits, etc. Vacant buiding insurance can be hard to get.

Not anymore! We now offer vacant building coverage for buildings valued up to $3.5 million. And at very competitive rates.

• Coverage to $3,500,000 • Buildings undergoing improvements also eligible

Don’t put your clients at risk. Call us today and let your clients rest easy.

Great products, great rates, great service.

That’s our policy. It’s why we’ve been in business over 50 years.

• Very competitive rates • Policy terms of 3, 6 or 12 months available

BOLTON & COMPANY

2400 Waterfront Plaza • 325 West Main Street • Louisville, Kentucky 40202 Telephone 502.583.8361 • 800.292.6597 • Fax 502.584.6131 • www.boltonmga.com