The Tennessee Insuror - September - October 2024

THE TENNESSEE

INSUROR

Insurors of Tennessee Welcomes Members to Nashville

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Welcome to the Insurors Annual Convention

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Meet Your 2024 Convention Speakers

September/October 2024 Volume 35 | Number 5

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Insurors of Tennessee Earns Awards at the 2024 Big “I” Fall Leadership Conference

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contents

THE TENNESSEE

INSUROR Volume 35 | Number 5 September/October 2024 Phone 615.385.1898 Toll Free: 1.800.264.1898 Email: marketing@insurors.org Editor: Ron Travis Publisher: MarketWise, Inc

INSURORS OFFICERS

President ..............................Kym Clevenger, CPCU, CIC, CAWC IIABA National Director ........................John McInturff III, ARM VP Region I, President-elect ......................................Bobby Sain VP Region II .........................................Battle Bagley, III, CIC, CPA VP Region III ................................................................Kevin Ownby Treasurer ......................................................Richard Whitley, CIC Secretary ................................................................Jamie Williams Director, Region I ............................................Andrew Maddox Director, Region I ............................................Pam Lofton-Wells Director, Region I ........................................................... Cy Young Director, Region II ................................. Matt Felgendreher, CIC Director, Region II ......................................................... Chip Piper Director, Region II .....................................Cameron Winterburn Director, Region III ...................................................Josh Gibbons Director, Region III .................................................... Tim Goss, CIC Director, Region III .................................................. Stuart Oakes Director, Young Agents ............Samantha Organek, CIC, CISR Immediate Past President ................. Matt Swallows, CIC, CRM

ADVERTISING

Display advertising rates, deadlines and specifications may be obtained by writing to Insurors of Tennessee, 2500 21st Avenue South, Suite 200, Nashville, TN 37212, calling 615.385.1898, e-mailing marketing@insurors.org or online at www.insurors.org The Tennessee Insuror is provided to all Insurors of Tennessee members and associate members as a member service.

INSURORS OF TENNESSEE 2500 21st Avenue South, Suite 200 Nashville, TN 37212-0539 www.insurors.org

The Tennessee Insuror

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Welcome to the Insurors of Tennessee Annual Convention!

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THANK YOU Convention Sponsors !

Meet Your 2024 Convention Speakers

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Visit & Support Our Exhibitors

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Insurors of Tennessee Earns Awards at the 2024 Big “I” Fall Leadership Conference

Special Bulletin: Annual Business Meeting - October 7, 2024

departments 23

From Your President Welcome Members, Partners, Vendors, and Guests

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From Your CEO “Pump the Brakes” and Enjoy Your Time at the Conference

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Tennessee Young Agents '24 An Update on the Progress of the Insurors of Tennessee Young Agents

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Partners for Tennessee - Thank you for your support!

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Government & Legal Update State Advocacy Update

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Company Spotlight CRC Group

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Your Big "I" Big ‘I’ and Reagan Consulting Release 2024 Best Practices Study Update

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Association Update

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Company Briefs

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Your Big I Big ‘I’ Expands Trusted Choice® Hard Market Toolkit

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Education Calendar

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Your Big "I" Auto Insurance Rose 15% in First Half of 2024

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Meetings - Mark Your Calendars

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Directory of Advertisers 3

Welcome to the Insurors of Tennessee We are pleased to welcome you to the 131st Annual Convention of the Insurors of Tennessee being held in Nashville, Tennessee at the beautiful J.W. Mariott Hotel.

This year we have a truly impactful, informative, and enjoyable event planned to help you and your agency compete and win in today’s rapidly evolving insurance marketplace. We encourage you to take advantage of all the conference offers from an education and professional development perspective.

Be sure to explore the annual trade show where you can meet many professionals who help power the success of your agency and our association. In addition, we will hold our annual business meeting where we elect the association’s slate of directors and officers who will lead and guide our association in 2025. As always, there are ample opportunities to network with colleagues from across the industry and to enjoy all Music City has to offer.

Please see the following agenda for details. If you have any questions, please visit us at the on-site registration desk.

Schedule of Events • All Times CST • *Denotes Event Sponsor SATURDAY, October 5 4:00pm - 5:30pm

Young Agents Committee Meeting (by invitation)

6:00pm - 8:00pm

Football Party *EMC INSURANCE

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Bristol Room

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Annual Convention!

SUNDAY, October 6 8:00am - 11:00am

Board of Directors Meeting- Bristol Room

10:00am - 1:00pm

Exhibitor Setup Time

Griffin Ballroom

11:30am - 12:30pm

Past Presidents Luncheon (by invitation)

Brentwood Room

12:00pm - 5:00pm

Onsite Registration Table Open

Griffin Pre-function

1:00pm - 5:00pm

Trade Show and Reception Griffin Ballroom *MARKET RETRIEVERS AND EXCHANGE MEDIA GROUP

5:00pm - 7:00pm

Exhibitor Breakdown Time

Griffin Ballroom

7:00pm - 10:00pm

Opening Night Party - *ROLLO INSURANCE

The Valentine (Lower Broadway)

7:30am - 9:30am

Association Breakfast & Annual Meeting

Griffin Ballroom

8:00am - 12:00pm

Onsite Registration Table Open

Griffin Pre-function

9:45am - 10:45am

Breakout Session #1: Ethics- CE: 1 hour

Griffin Ballroom

MONDAY, October 7

Late Morning Session Option 1 11:00am - 12:00pm WINS Panel Breakout Session- AI: Practical Use Cases For Your Agency featuring C.J. Hutsenpiller

Griffin Ballroom

Late Morning Session Option 2 11:00am - 12:00pm Breakout Session #2: Beyond the Cyber Policy

Belle Meade Room

12:00pm - 1:15pm

Griffin Ballroom

All Attendee Luncheon with Exhibitor Door Prizes!

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(continued on page 7)

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MONDAY, October 7 (continued) Afternoon Activity Option 1 1:30pm - 3:30pm

*MARTIN & ZERFOSS + CHUBB Special Event Songwriter Show at Ole Red on Lower Broadway (Must have preresgistered for this event.)

Afternoon Activity Option 2 1:30pm - 3:30pm

Soup-er Bowl with the Young Agents Non-Profits: Dealing with the Aftershock presented

by Paula Burns, CIC, CRM - 1 hour CE All attendees welcome to join!

3:30pm - 5:00pm

Free Time

5:00pm - 6:00pm

InsurPACTN Donor Reception (by invitation)

6:00pm

Company Night Dinner on your own

9:00pm - 11:00pm

Young Agents Night Out *CRC GROUP

Griffin Ballroom

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6th & Peabody

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TUESDAY, October 8 8:00am - 10:00am

Member Appreciation Breakfast

10:00am - 11:00am Board Member Portraits & Group Photo 11:00 am

Griffin Ballroom Griffin Ballroom

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THANK YOU Convention Sponsors !

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Event Sponsors

ROLLO INSURANCE - Sunday Night Party - The Valentine on Lower Broadway MARTIN & ZERFOSS + CHUBB - Special Event CE with Songwriter Show at Ole Red on Lower Broadway MARKET RETRIEVERS AND EXCHANGE MEDIA GROUP - Sunday Trade Show and Reception EMC INSURANCE - Saturday Night Football CRC GROUP - Young Agents Night Out at Ole Smoky Distillery + Yee Haw Brewing Co. 8

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Meet Your 2024 Convention Speakers CJ Hutsenspiller, Hutsenpiller Insurance CJ Hutsenspiller started working in the family insurance agency as a receptionist as his first job around 15 years ago. He is proud to say that he has held every position in the agency over his career and has a firm understanding of the role of each position. This experience clearly has proven invaluable to him as he leads the Hutsenspiller agency forward and invests in the development and success of his colleagues.

From early on CJ was intrigued by technology and how it can be used in the service of agency operations and the delivery of an exceptional customer experience. From those first days in the agency, CJ had an inquisitive mind wondering why things were done the way they were and could they be done better.

He suggests he inherited this trait from his mother who embraced technology and agency automation early in the life of the agency. In fact, the agency was paperless before the end of 2006 at a time when many peer agencies were not there yet. CJ’s interest in technology within the context of the agency and in general has been instrumental in the success of the agency.

agers, and organizations nationally. She is a faculty member of the National Alliance as a “Ruble Professor” and strives to pour into the next generation.

Paula serves on several boards including: • Care Providers Insurance Advisory Board • Texas Mutual Social Services Board • Selected as the Zenith Worker’s Compensation Master Agent for the US • Texas Ministry Conference Board • Church CO+OP Board She joined Insurance One Agency in 2010 because they have a heart to serve organizations with excellence.

Chris Christian, CIC, RPLU

Paula Burns, CIC, CRM, Insurance One Agency

Chris Christian stumbled into insurance in 1985 as a temporary employee at GAF Insurance Services, a bank-affiliated insurance agency in San Diego. After six years with GAF, Chris moved to the carrier side, opening the San Diego branch office of RLI Corp, an underwriter of specialty lines of insurance. The San Diego office was dedicated to Directors and Officers Liability coverage, and was the launching pad for Chris’s specialization in professional liability.

Paula Burns has been in the insurance industry for 40 years and has earned her CIC, Certified Insurance Counselor, designation in 2009 and her CRM, Certified Risk Manager, designation in 2011. Her career began in property and casualty claims, laying a foundation for Paula to be an advocate for clients when they need her the most, during a claim or crisis.

Chris left RLI in 1997 to establish her own underwriting facility at London American General Agency and branched out thereafter into professional liability broking. She joined U.S. Risk in November of 2005 and six months later relocated herself, her significant other, and 26 animals to Tennessee, where she continues her pursuit of the art and science of professional liability broking, and contributes to the industry as a frequent speaker, author and association participant.

Since 1993 Paula has worked in the commercial insurance industry space on the agency side. Her passion is to work alongside organizations as their outsourced Risk Manager. It is important to Paula to be “on the team” ahead of time and assist in training leadership teams to have a proactive culture towards risk. She specializes in working with non-profits, churches and faith-based universities.

Paula teaches classes to insurance professionals, risk man-

Chris is the publisher of PLTidBits, a website focused on professional liability broking information. You may subscribe to Chris’s periodical Knowledge Knuggets publication by visiting the site, or by emailing her at chris@pltidbits.com or chrisc@usrisk. com.

Today, CJ continues to leverage technology and is dedicated to continuous improvement to find ways to better serve clients and enhance the operations of insurance agencies. For CJ, Artificial Intelligence (AI) is the next technology to be leveraged in practical ways to support professional independent insurance agencies.

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Chris is also the publisher of “Cyber Insurance Basics”, an installment in the Building Block Series of insurance primers.

Cyber Insurance Basics is available on Kindle.

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Todd Jackson, Big “I” Chairman 2024-2025 Todd Jackson has over 30 years of experience in insurance and is now an owner and partner at McGowan Insurance Group located in Indianapolis Indiana. His roots in the insurance business are deep having started his insurance career in his family’s agency after graduating from Indiana University.

Jackson has been a prominent volunteer leader with the Big “I" at the state and national level. He served on the Big I Indiana Board of Directors, which expanded to the Indiana Executive Committee before eventually becoming state president in 2013. He also represented Indiana on the national Big “I" Board of Directors for four years, served on the Trusted Choice® board and the Finance Committee, and was elected to the national Executive Committee in 2018.

“Todd's dedication to the independent agency channel and to Big 'I' members shines through in the numerous ways he's already served the association and in his continued passion for giving back to the independent agency system," says Charles Symington, Big “I" president & CEO. “We're grateful

for his leadership as the Big 'I' continues to evolve its technology and programs to provide members with the tools they need to succeed in the hard market and beyond."

As chairman, Jackson is focusing on reinforcing the association's core member benefits and enhancing operational efficiencies. This includes prioritizing programs that deliver value to members while ensuring the Big “I" supports member agencies' evolving needs, as well as fostering a strong relationship between the national Big “I" and state associations. u

Special Bulletin: Annual Business Meeting - October 7, 2024 The following association changes are to be voted on by our agency members at the Annual Business Meeting being held at the JW Marriott on Monday, October 7th at 7:30 in the morning in conjunction with our 2024 Annual Convention in Nashville. Agency members must be present at the Annual Business Meeting to vote.

Immediate Past President – Kym Clevenger (Region III) President – Bobby Sain (Region I) President-Elect – Battle Bagley III (Region II) IIABA National Director - Elected for 3-Year Term John McInturff III has served 2 years Vice Presidents - Elected Annually Region I Bobby Sain (moving to President) NOMINEE Portis Tanner Region II Battle Bagley III has served 2 years (moving to President-elect) Region III Kevin Ownby has served 1 year Treasurer - Elected Annually Treasurer Richard Whitley has been nominated to continue 1 year of service

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Secretary - Elected Annually Secretary Jamie Williams has served 1 year NOMINEE Brandon Clarke Directors - Elected for 3-Year Term Region I Cy Young has served 3 years NOMINEE Sam Bradshaw IV Region I Pam Wells has served 2 years Region I Andrew Maddox has served 1 year Region II Region II Region II Region III Region III Region III

Chip Piper has served 3 years NOMINEE Jessica Govic Cam Winterburn has served 2 years Matt Felgendreher has served 1 year Tim Goss has served 3 years NOMINEE David Clark Josh Gibbons has served 2 years Stuart Oakes has served 1 year

Young Agent Director - Elected Annually

Sam Organek has served her term.

NOMINEE Clark Kelman

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Equipment Insurance International Southern Pioneer P & C Ins. Co. Zenith Insurance Company The National Security Group Bailey Special Risks, Inc. Liberty Mutual Insurance Safeco Hometown Quotes LLC Rollo Insurance Jencap Insurance Services Inc. CRC Group Homeowners of America Insurance Company Novum Underwriting Partners Ck Specialty Insurance Associates, Inc. Method Insurance RT Specialty Ryan Specialty Group BBSi National General, an Allstate company Frank Winston Crum Insurance HawkSoft, Inc. Applied Systems, Inc. Pennsylvania Lumbermens Mutual ICW Group Insurance Companies Associated Insurance Administrators Travelers Commercial Sector Insurance Brokers Sola Insurance Tokio Marine HCC - Surety Group VensureHR Builders Insurance Group Steadpoint Group Donegal Insurance Group Commercial Agent Pathway LLC Service Guarantee and Surety Company MidSouth Insurance Company 15

Insurors of Tennessee Earns Awards at the 2024 Big “I” Fall Leadership Conference A contingent of representatives from the Insurors of Tennessee attended the annual Big “I” Fall Leadership Conference that was held in Indianapolis, Indiana this year from September 4-8, 2024. Attending the conference this year on behalf of the Insurors of Tennessee were Ron Travis, Kristen Gulson, Lou Moran, John McInturff III, Jake Smith, Teresa Durham, Sam Howard, Nikki Reeder, and Whitney Breazelle. We appreciate everyone taking time out of their busy schedules to take part in the conference.

Once again, this year the Insurors of Tennessee was recognized nationally at the conference earning awards in areas the association has been strongly emphasizing the past several years. We are excited to receive this affirmation that our hard work and innovation is being noticed by our peers at the national level.

For the fifth consecutive year, the Insurors of Tennessee won the Big “I” Excellence in Education Award received by Teresa Durham, Insurance & Education Specialist for the association. To consistently perform at a high level is a real tribute

Pictured above: 1. Young Agent Awards 2. Insurors of Tennessee Young Agents with their award

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to the ongoing work of Teresa Durham, the Insurors Board of Directors, and the Education Committee. They have been keenly focused on providing a wide range of insurance education and professional development opportunities to members from new agents starting out to seasoned executives leading insurance agencies and organizations.

One of the signature additions in 2024 was the addition of an IA-MBA program to help accelerate the management skills of those who aspire to be in leadership or who are already leading insurance organizations. The program enables you to learn organizational leadership techniques, gain financial acumen, empower your team, identify ideal customers, streamline operations, and more. This program is designed to optimize your management capabilities and drive tangible results. This mini-MBA program is offered as a virtual course of study fitting the schedules of busy insurance professionals.

In addition, the association has also continued to emphasize insurance licensing classes offered both virtually and in

Pictured above: 1. Sam Howard receives Young Agents award 2. CJ Hutsenspiller speaking on panel

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person at the Insurors of Tennessee offices to increase the number of available staff who can work in agencies across the state. Kristen Gulson, Executive Director for the association stated, “We are very proud of receiving this important award that speaks directly to our efforts to ensure we are building insurance professionals who can effectively compete in the marketplace on the strength of their knowledge and expertise.”

Another area this association has placed a strong emphasis on the past three years is the development and growth of our Young Agents program. This year the Insurors of Tennessee won two awards for our initiatives in this area including the 2024 Outstanding Young Agents Meeting Award and the 2024 Outstanding Young Agents Breakthrough Committee Award. Sam Howard, Nikki Reeder, and Whitney Breazelle, all members of the Young Agents Committee, were present to receive the award in Indianapolis.

Sam Howard, Young Agents Director said, “Our growth and development over the past year is a credit to the work of the Young Agents Committee, as they transitioned the organization structurally to reflect Best Practices of other associations, to became a more effective organization.” Jake Smith, Director of Operations further commented, “We were able to more deeply engage members of the committee in 2024 to deliver more events and support Young Agents across the state.”

Pictured above: 1. Lou Moran being sworn in as Chairman-elect 2. Teresa Durham and Ron Travis receive Education Award

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One of the key objectives of Insurors President Kym Clevenger throughout the year has been to enhance and improve the ability of the Young Agents of Tennessee to meet the rapidly evolving needs of Young Agents in challenging market conditions. By any measure, while there is more to do, we can say mission accomplished.

At the Fall Leadership Conference, Todd Jackson was installed as Big “I” Chairman of the national association for the 2024-2025 term. Todd is an owner and partner at McGowan Insurance Group in Indianapolis and has a wealth of insurance industry expertise and considerable experience serving in leadership positions within the Big “I” organization over the past several years. He will be an important part of decision making and leadership as the Big “I” navigates the challenges and opportunities that will present during his term. We are pleased that Todd will be attending and speaking at our 2024 annual conference. This will be a fantastic opportunity to get to know Todd as he takes the reigns as Chairman of the association.

In addition, our own Lou Moran III was sworn in as Chairman-elect in Indianapolis to succeed Todd Jackson as Chairman of the Big “I” at the national level beginning in September 2025. As most of you know, Lou is the President of Inter-Agency Insurance Service in his hometown of Knoxville, Tennessee.

Pictured above: 1. Young agents with John McInturff III, IIABA National Director 2. Young agents with Jake Smith, Ron Travis and Kristen Gulson 17

While representing Tennessee on a national level as a board member of the IIABA, he has served on the national InsurPac and the Governmental Affairs committees. As an IIABA Executive Committee member Lou III is also currently the liaison to the IIABA’s InsurPac committee, Invest, Agency Administrative Services, the Cooperative Technology Committee, and he chairs the new InsurTech Taskforce. He also serves on the Finance Committee.

As a result of Lou’s planned installation as Chairman of the Big “I” in September 2025, we are excited that the Big “I” 2025 Fall Leadership Conference will be held in Nashville next September. Stay tuned for details about the conference in upcoming communications. We are extraordinarily proud of Lou for his dedication and work as a member of the Insurors of Tennessee through the years at the state level and for his substantial efforts at the national level with the Big “I”.

In closing, this was a consequential Fall Leadership Conference for the Insurors of Tennessee as it continues to evolve and develop to meet the ever-changing needs of our members. We greatly appreciate and value the support of members, board members, partners, sponsors and staff as we go forward. u Pictured to the right : Young agents enjoying an outing to the Indianapolis Motor Speedway

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From Your President Kym Clevenger

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Welcome Members, Partners, Vendors, and Guests Now that the 131st Insurors of Tennessee Annual Convention is upon us, I want to welcome our members, partners, vendors, and guests who are attending the conference here in Nashville at the beautiful J.W. Marriott Hotel. I also want to thank everyone on the Insurors of Tennessee staff who has put in the effort planning the event to make sure it meets the needs and expectations of all attendees.

We’re glad you’re here and hope you will take advantage of all the conference has to offer. Be sure to review the schedule provided at the beginning of this magazine and at the Insurors of Tennessee website www.insurors.org/annual-convention to make your plan to attend the various sessions, breakout groups, networking opportunities, and education modules offered. Our intent is for you to walk away from the convention, refreshed and energized with new insights, new and renewed business relationships, and new knowledge learned from the education sessions to power your agency forward in 2025.

Recently, members of the Insurors of Tennessee returned from the Big “I” Fall Leadership Conference held in Indianapolis, Indiana. I was pleased that two priorities we have emphasized this year, including the Young Agents and our Education initiatives, both earned awards from the Big “I” national organization.

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Relative to education, your association won the Big “I” Excellence in Education Award for the fifth consecutive year. It is no small feat to perform at such a consistently high-level year after year in any endeavor. I congratulate Teresa Durham and our Education Committee on their continued investment of time, energy, and resources to ensure this association can meet the education and professional development needs of our membership. As I have said before, education is the engine that powers success for independent insurance professionals, agencies and companies. In a market where insurance policies are increasingly sold as if they are commodities, knowledge and expertise is the great differentiator.

This year at the Fall Leadership Conference in Indianapolis, the Young Agents Committee won not just one but two awards including the 2024 Outstanding Young Agents Meeting Award and the 2024 Outstanding Young Agents Breakthrough Committee Award. Jake Smith, Sam Howard and the entire Young Agents Committee should be applauded for this notable accomplishment.

The Young Agents Committee restructured at the beginning of the year into an organization that looks and acts much like the Insurors of Tennessee Board of Directors. This was not by happenstance, as we see the Young Agents Committee as a place to develop the future leaders of this historic association. While the primary role of the committee is to serve the needs of Young Agents across the state of Tennessee through education, social events and network opportunities, it is in a real sense an executive or entrepreneurial incubator that will pay dividends going forward.

In addition, throughout 2024 the Young Agents have been holding events across the state from the Mississippi delta to the mountains of East Tennessee. The attendance and engagement have grown throughout this year. I cannot wait to see how this group of promising young people performs in 2025.

This year is also a period of transition for our association as Ron Travis retires as CEO and Kristen Gulson assumes the role of Executive Director at the end of the year. They are working together along with the Insurors staff and the Board of Directors to ensure an orderly transfer of leadership going into 2025.

At the same time, my term as President of this association will draw to a close at the end of the year and Bobby Sain of Bolivar Insurance & Real Estate will be installed as the President for the new year.

In addition, new Board Members will join the board as others complete their terms.

As I think about what an honor it has been to serve as President of this historic association this year, I cannot help but think about how this process of transition and renewal has been repeated through the years enabling the Insurors of Tennessee to sustain 131 years of service to its members, our industry, and to the consumers of Tennessee. I am immensely proud of this association and the generations of members who have and continue to perpetuate the Insurors of Tennessee through the twists and turns of history.

I hope to see each of you during the convention! u

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The Tennessee Insuror

From Your CEO Ron Travis

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“Pump the Brakes” and Enjoy Your Time at the Conference I would like to personally welcome you all to the Insurors of Tennessee convention being held in Nashville at the J.W. Mariott Hotel located next to the Music City Center, near the Country Music Hall of Fame and just blocks away from the lower Broadway entertainment district.

This year we are offering a robust schedule of events throughout the conference that will be of great benefit to you. Our guest speakers will give you the opportunity to learn the latest news and information about our industry and leadingedge topics that will help you navigate an ever-changing industry now and into the future. I encourage you to take advantage of the many events being presented.

Don’t miss the chance to learn and advance your knowledge at the many education and professional development sessions. Topics ranging from using artificial intelligence to cyber insurance to non-profits are being presented. There are ample opportunities to earn continuing education credits during the convention. Always remember, In our business, professional education drives success!

One element of the convention I would like to draw your attention to is the annual tradeshow made possible by our partners and exhibitors. The tradeshow provides you with the chance to meet with many of the Insurors of Tennessee partners and associated companies who deliver a wide range of insurance products and services to members throughout the year. There is no better place to visit with so many of the folks who can contribute to your success and our success as an association in one place at one time. Please be sure to explore the The Tennessee Insuror

exhibit hall during tradeshow hours to learn about the products and services available to you.

As required by statute, we will hold our annual business meeting where members vote for and install new officers and directors for the upcoming terms. This is also the time where any amendments to our charter or other association business is normally considered and voted on by the members. This year there are no amendments to be voted on beyond the election of officers and directors. While the annual meeting is a fixture of every Insurors of Tennessee at every annual convention, it is vital to the ongoing success of this organization and the perpetuation of the association. As a member, it is important for you to be present and vote during this session.

We are happy to welcome incoming Big “I” Chairman, Todd Jackson to the convention and look forward to hearing what he has to share with us in his new role. Todd was just installed as Chairman of our national organization at the Fall Leadership Conference held in Indianapolis in early September. He is an owner and partner at McGowan Insurance Group in Indianapolis. He has also been an active part of his state association and the Big “I” at the national level for many years.

It is important to note that long time Insurors of Tennessee member, Past President, and current member of the IIABA Big “I” Board, Lou Moran III, was installed as the Chairman-Elect of the Big “I” at the Fall Leadership Conference. Lou will be part of the governing board for this term and will succeed Todd Jackson as Chairman next September at the Fall Leadership Conference being held in Nashville.

Lou’s ascendancy into the leadership of the national association is born of his dedication to this association and the knowledge and experience he brings to leadership. For many years, he has given considerable time and effort to improving our industry at the state and national level.

It will truly be a historic moment when the Fall Leadership Conference comes to Nashville next September and Lou becomes the next Chairman of the Big “I”. Congratulations to Lou on being installed as Chairman-elect in September.

We appreciate all you do for our association and our industry. In the simplest of terms, we are extraordinarily proud of you, Lou! As rewarding as being part of the insurance profession can be for independent agents, company staff, and vendors, the industry can be challenging and demanding at times. This is particularly true in hard market conditions such as we have encountered most recently.

Finding time to relax, decompress, and enjoy life is important to sustained success.

This conference offers you a chance to enjoy time away from the office, fellowship with your colleagues, world class entertainment in Music City and so much more. Now is the perfect time to “pump the brakes” and enjoy your time at the conference.

We look forward to enjoying our time together in Nashville. We'll see you during Insurefest! u 25

Tennessee Young Agents '24 Young Agent Spotlight

presented by

An Update on the Progress of the Insurors of Tennessee Young Agents Program The Young Agents of the Insurors of Tennessee started 2024 with many aspirational goals. These goals were centered around making the group more supportive of young agents across the state and to make it more effective in carrying forward its mission for the overall association.

One of the most significant changes the Young Agents embarked upon earlier this year was the restructuring of the Young Agents to function and act more like a board. According to Young Agent’s Director Samantha Howard, “The new structure was modeled after the best practices observed from other state associations across the country.”

The new committee structure led by committee chairs has helped to move the Young Agents forward this year in meeting multiple objectives. A byproduct of the structure is members of the Young Agent committees have gained exposure as to how boards work and the coordinated leadership it takes to plan and accomplish tasks. In a very real sense, it is like a real-world learning lab that will prepare members for leadership positions in their respective agencies or in some cases for positions down the road on the Insurors of Tennessee board of directors.

One of the goals of the Insurors of Tennessee Young Agents in 2024 was to earn an award for Young Agents at the Fall Leadership Conference and Young Agents Institute this year in Indianapolis. As Young Agents Director Samantha Howard recounts, “We were there at the awards ceremony and were shocked when our name was called for two awards including the 2024 Outstanding Young Agents Meeting Award and the 2024 Young Agents Breakthrough Committee Award.”

The members of the Insurors of Tennessee Committee present during the ceremony included Samantha Howard, Nikki 26

Reeder, and Whitney Breazelle along with their staff advisers including Jake Smith and Kyra Garrison. They were overjoyed the group won the awards and accomplished one of their missions set earlier in the year. As Young Agents Director, Samantha Howard said, “I want to thank all of the committee chairs, our company liaisons, our staff liaisons, and the Insurors of Tennessee Board of Directors for all of their hard work and support this year.”

As part of Young Agents Committee outreach this year the group hosted a highly successful Spring Conference in Nashville that enjoyed a great turnout. In many ways it was one of the first Spring Conferences that was tightly focused on the needs of Young Agents according to Samantha Howard.

In addition, this year the Young Agents of Tennessee hosted a series of gatherings across the state in March and then again in August providing opportunities for Young Agents to get to know their peers within their local markets and share experiences to their mutual benefit. We are pleased to report the “socials” were well attended across the state.

At the Insurors of Tennessee annual convention, the Young Agents will again have a strong presence hosting an event during the conference on Monday afternoon on Monday at 1:30pm 3:30pm – called the Souper Bowl featuring a 1-hour CE opportunity with a course entitled “Non-Profits: Dealing with the Aftershock" presented by Paula Burns, CIC, CRM. Please see the schedule for the location and other guidance. The event is open to all attendees.

No doubt there will be additional activities planned by the group for this Fall. Be on the look out on our social media platforms and other communications for updates. We look The Tennessee Insuror

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forward to seeing a strong finish from the Young Agents in the fourth quarter of this year to carry forward the momentum gained into 2025.

The Insurors of Tennessee staff and board wants to thank Samantha Howard for a successful year with the Young Agents. She has done a tremendous job shepherding the Young Agents forward to position it for greater success in the coming year. We also want to thank Johnny Griffin for sharing Samantha with us this year as she carried forth her duties as Director of the Young Agents.

Samantha is employed by Griffin Insurance Agency located in Kingston, Tennessee just outside of Knoxville. She was hired and introduced to the insurance business by Johnny Griffin who is a stalwart member and supporter of the Insurors of Tennessee for many years.

Sam grew up in nearby Oakdale, Tennessee and is a graduate of Harriman High School. She also attended Roane State Community College. Samantha earned her CISR designation in 2016 and her CIC designation in 2022. She noted that Johnny Griffin strongly encourages professional education and continuing education for all members of the staff. u The Tennessee Insuror

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The Tennessee Insuror

Government & Legal Update State Advocacy Update As the fall season arrives, it often signals new beginnings for many—a return to school, the start of football season, and the change in the air (and humidity level). For the Insurors of Tennessee, this time of year holds particular significance, especially in an election year when a new General Assembly will be chosen by the citizens of Tennessee. Just as autumn brings fresh opportunities, the election of a new legislature presents a chance for the organization to renew and strengthen its advocacy efforts, ensuring that the voices of independent agents remain influential in shaping the policies that affect the industry.

This sense of renewal extends to the Insurors of Tennessee itself. With the Annual Convention in Nashville, we not only gather to connect and learn but also to elect new organizational leadership and offer gratitude for those whose service has come to an end. The convention serves as a time to reflect on the progress we’ve made and prepare for the next chapter, as we continue to advocate for a fair and balanced regulatory environment for our members.

The Insurors of Tennessee continues to be the trusted voice for independent insurance agents in the Tennessee legislature, tirelessly advocating for their interests at the state level.

Through ongoing engagement with lawmakers and regulators, the organization ensures that its members' concerns are heard and that they have a seat at the legislative table. This vital advocacy not only shields the industry from potentially unnecessary, harmful regulations but also drives policies that allow independent agencies to flourish in a constantly evolving business landscape.

Although its easy to be disenchanted with the political climate nationally, a critical component of our advocacy efforts in Tennessee is InsurPACTN. The PAC plays an essential role in supporting state legislators and candidates who listen,

understand, and champion the interests of independent insurance agents. By contributing to the PAC, members help ensure that the voice of Tennessee's independent insurance community resonates in the Tennessee State Capitol and the Cordell Hull Building, where key decisions impacting the industry are made.

PAC funds are used to cultivate and maintain relationships with policymakers who influence legislation affecting the insurance industry and small business environment. These contributions enable Insurors of Tennessee to support officials committed to fostering a fair regulatory environment, promoting business growth, and protecting the interests of independent agents. PAC participation is a cornerstone of our advocacy strategy, ensuring that we continue to effectively engage with state leaders on the issues that matter most to our members.

We extend our deepest thanks to those who have supported the Insurors of Tennessee PAC this year and in the past.

Your contributions have been invaluable in helping Insurors maintain a strong, unified voice in state government, ensuring that the concerns of independent agents are always wellrepresented in legislative discussions.

For those who haven’t yet contributed, we encourage you to consider joining this critical effort, even at levels of $25, $50, or $100, as even these seemingly smaller contributions can (and do) have a real impact. By supporting the PAC, you are making a direct investment in the future of our industry and helping to shape the policies that impact your business.

Together, we can continue to protect and promote the independent insurance community across Tennessee, ensuring a bright future for agents and the clients they serve.

We look forward to seeing you in Nashville!

Contribute to InsurPAC at www.insurors.org/ donate-to-insurpactn/ or scan the QR to link.

The Tennessee Insuror

31

Government & Legal Update Insurors Partners with TDCI to Host SERA 2024 Conference

Ryman Auditorium, the new entertainment hub Fifth & Broadway, the County Music Hall of Fame and Museum, and more. Hot chicken, country music, and good times await you in Music City, U.S.A. To help you plan your trip, TDCI has created a website featuring information and resources that will make your stay in Nashville go smoothly. The SERA conference agenda is posted on the website, and the registration link is live. The hotel room block is limited, so we would suggest planning early.

Insurors has partnered with The Tennessee Department of Commerce & Insurance to host the 2024 Southeastern Regulators Association (SERA) annual conference in Nashville on November 3-5. SERA is an organization consisting of Insurance Commissioners from 11 “SEC” states plus Puerto Rico.

The annual conference is an opportunity for regulators from around the region to hear from industry and discuss industry trends, problems, and policy solutions.

Meetings will take place in downtown Nashville near Lower Broadway! You’ll be a short walk away from the historic

For more information about the conference agenda, registration, and remaining sponsorship opportunities visit https:// www.tn.gov/commerce/sera.html.

About the Author—Trey Moore is the government and legal consultant for Insurors. He operates Trey Moore Consulting in Nashville and formerly served as senior public policy counsel for one of Nashville’s largest law firms. Trey has over a decade of experience in representing clients before the Tennessee General Assembly and state government. u

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Financial strength and size ratings can change and should be reevaluated before coverage is bound. This material is intended for licensed insurance agency use only. This is not intended for business owner or insured use. If you are not a licensed agent please disregard this communication.

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Best Practices agencies achieved record-breaking growth.

Best results in the 31-year history of the study.

Big ‘I’ and Reagan Consulting Release 2024 Best Practices Study Update

BY AnneMarie McPherson Spears, IA News Editor

Best Practices agencies continue excellent organic growth and profitability, according to the 2024 update of the Best Practices Study by the Big “I" and Reagan Consulting.

The Best Practices Study update is the last in its three-year cycle, examining the firms that qualified as a 2022 Best Practices agency. The annual study, conducted jointly in a longstanding partnership between the Big “I" and Reagan Consulting for the past 31 years, provides critical performance benchmarks in six agency revenue categories ranging from under $1.25 million to over $25 million.

“Best Practices agencies saw historic levels of growth, producing the best results achieved in the three decades the Best Practices Study has been conducted," says Charles Symington, Big “I" president & CEO. “We congratulate these top agencies for their dedication to excellence. All agencies can learn from the study's insights to improve their operational durability as the independent agency channel continues to show robust health even through the considerable challenges posed by the current hard market."

The Best Practices Study analyzes takeaways from nominated Best Practices firms throughout the nation that have been recognized for outstanding management and financial achievement in categories such as income and expense distribution; revenue and profitability growth; sales and service staff compensation and productivity; technology expenses; and property & casualty and life-health carrier representation.

“The big question was whether it was possible to beat last year's record-breaking positive results, and Best Practices agencies have done it again," says Tom Doran, a partner with Reagan Consulting. “In addition to exceptional growth, we also saw continued investment in new producer development. This investment in future growth engines is crucial for agencies to ensure new producers are ready to pick up the slack when the p&c market eventually softens."

Key findings from the update include: Organic growth reaches a record high. At 10.6%, organic growth levels were driven by property & casualty rates, solid new business and account retention. All but two 36

revenue categories showed improved organic growth results compared to 2023, with the under $1.25 million group experiencing a 5.4% rate, down from 6.4%, and the over $25 million seeing a 9.8% rate, down from 10.8%.

Profitability remained at historically high levels. At 25.7%, Best Practices agency profitability remained steady, falling just behind last year's results of 25.8%.

The Rule of 20 results hit an all-time high. The Rule of 20, calculated by adding organic growth to 50% of pro forma EBITDA (earnings before interest, taxes, depreciation and amortization), continued the past three years' exceptional results with a record 24.8. The Rule of 20 is the best metric with which to gauge overall agency health.

Sales velocity holds steady. Sales velocity remains at healthy levels in each revenue category, averaging 14.5% and holding steady from 2023's average of 14.7%.

Producer recruitment and development remains healthy.

Net unvalidated producer payroll (NUPP), a measure of producer recruitment and development, held steady at 1.9%, compared to 2.0% in 2023, which leaped from 1.1% in 2022. A healthy NUPP investment is 1.5%-2.0%, a marker hit by every Best Practices revenue category, indicating that Best Practices agencies are appropriately reinvesting in future growth engines.

Shareholder and producer ages hold steady. The weighted average shareholder age (WASA) was 54.4, holding steady from 54.3 years in 2023, and the weighted average producer age (WAPA) was 49.9, a slight increase from 49.6 years. Agencies should manage these two metrics carefully as lower WASA and WAPA are critical to long-term agency perpetuation.

The annual Best Practices Study began in 1993 as a joint initiative between the Big “I" and Reagan Consulting and studies leading agencies and brokers in the country to help independent agents build the value of their agencies.

For more information on the Best Practices program or to purchase a copy of the 2024 Best Practices Study Update, visit the Big “I" Best Practices webpage. u The Tennessee Insuror

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Association Update Big ‘I’ Installs New Chairman The Big “I" installed Indiana's Todd Jackson, owner and partner at McGowan Insurance Group in Indianapolis, as the 2024-2025 Big “I" chairman at the Big “I" Fall Leadership Conference in Indianapolis.

With over 30 years of experience in insurance, Jackson has been a prominent volunteer leader with the Big “I" at the state and national level. He served on the Big I Indiana Board of Directors, which expanded to the Indiana Executive Committee before eventually becoming state president in 2013. He also represented Indiana on the national Big “I" Board of Directors for four years, served on the Trusted Choice® board and the Finance Committee, and was elected to the national Executive Committee in 2018.

“Todd's dedication to the independent agency channel and to Big 'I' members shines through in the numerous ways he's already served the association and in his continued passion for giving back to the independent agency system," says Charles

JM Wilson Tennessee The2023 Tennessee InsurorInsuror OUTLINES.indd 4

Symington, Big “I" president & CEO. “We're grateful for his leadership as the Big 'I' continues to evolve its technology and programs to provide members with the tools they need to succeed in the hard market and beyond."

As the new chairman, Jackson is focusing on reinforcing the association's core member benefits and enhancing operational efficiencies. This includes prioritizing programs that deliver value to members while ensuring the Big “I" supports member agencies' evolving needs, as well as fostering a strong relationship between the national Big “I" and state associations.

“I am committed to working together to overcome our biggest challenges," Jackson says. “And I am committed to continuing the free and open exchange of ideas with our state leaders to make the Big 'I' better for our members."

Along with Jackson's installation, Lou Moran III, president of Inter-Agency Insurance Service in Knoxville, Tennessee, was sworn in as Big “I" chairman-elect. Angela Ripley, president of VW Brown Insurance Services in Columbia, Maryland, will be the 2024-2025 vice chair. Jackson succeeds chairman Mike McBride, president of Mason-McBride in Troy, Michigan, who will remain on the Big “I" Executive Committee for an additional year as immediate past chair.

1/11/23 6:42 PM 39

Association Update Continued Southern Agents Conference 2024 Registration is open for the Southern Agents Conference to be held December 6-8, 2024 at the The Whitley, Atlanta Buckhead.

Since 1971, state association agents, leaders, and executives from across the Southeast have gathered in Atlanta's Buckhead for the annual Southern Agents Conference (SAC) workshop.

This event provides a platform for networking, idea sharing, and discussing successes and common challenges among Independent Insurance Agents and Brokers of America (IIABA) associations from 15 states.

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Working together to advance the independent agency system throughout the Southeast.

2024 SAC Breakout Groups: • State Officers • National Directors • State Executives • Young Agents • Commercial Lines • Legislative Affairs • Personal Lines • Technology • Association Products/Services & Education Company, Broker and Vendor colleagues are invited to participate—both sponsors and as active contributors to the many lively discussions which are the heart of the Workshop.

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Company Briefs Six Tennessee Students Receive $10,000 BlueCross Power of We Health Equity Scholarships The BlueCross BlueShield of Tennessee Foundation has selected six students from around the state as recipients of its 2024 BlueCross Power of We Health Equity Scholarships. Each year, the foundation awards $10,000 each to students based on their outstanding achievements in community service, leadership, and academics, as well as their commitment to improving health equity in the state.

The scholarship is open to undergraduate and graduate students of all backgrounds who are enrolled at accredited colleges and universities within the state of Tennessee.

They must be pursuing degrees and careers in health care with a demonstrated desire to improve health equity for Tennesseans. To date, the foundation has awarded $475,000 in scholarships to 50 students.

“We know that as we work to improve health outcomes for all Tennesseans, it’s critical to support the state’s future health care providers,” says Dr. Andrea Willis, SVP and chief medical officer at BlueCross. “As we continue to build on our understanding of health disparities and barriers to care, our Power of We Scholarship remains a vital component in our strategy to advance health equity.”

Monse Rincon – Cleveland, Junior, Dental Hygiene Chattanooga State Community College/Tennessee Wesleyan University Ariel Woods – Oakland, Senior, Nursing, University of Tennessee at Martin The BlueCross Foundation will begin accepting applications for 2025 BlueCross Power of We Health Equity Scholarships next January.

JM Wilson Promotion J.M. Wilson is excited to announce the promotion of Brendan Hagan to Fleet Transportation Underwriter.

He is responsible for underwriting a wide variety of new and renewal fleet transportation risks (11 or more power units), as well as nurturing relationships with carrier underwriters and independent insurance agents in all states that JM Wilson writes.

Brendan joined JM Wilson in August 2023 as an Assistant Fleet Transportation Underwriter, where he provided a vital role in supporting the Fleet Transportation team. A Central Michigan University graduate, he holds a bachelor’s degree in management and spanish.ved superior performance over the five years analyzed.

Arlington/Roe Names New Leadership Team Andy Roe has been promoted to President and Chief Operating Officer and Patrick Roe has been promoted to Executive Vice President, Chief Sales and Marketing Officer at Indiana-based Arlington/Roe, a managing general agency and wholesale insurance broker. Jim Roe continues as Chairman and Chief Executive Officer.

This year’s Power of We Scholars are: Eshiobomhe Sigmus Aimofumhe – Nashville, Junior, Biochemistry and Molecular Biology, Fisk University Emma Hynson – Johnson City, Graduate Student, Health Sciences, East Tennessee State University Shiraz Ibrahim – Clarksville, Graduate Student, Dentistry Meharry Medical College Kynedi Jennings – Collierville, Sophomore, Nursing University of Tennessee at Chattanooga The Tennessee Insuror

Andy began his insurance career when he joined Arlington/ Roe in 2001, where he is a third-generation member of the family-owned business. Over the last 20 years, he has been involved in many facets of the organization by holding various roles from underwriting to departmental leadership.

Andy’s responsibilities include maintaining and directing the daily operations of the company as well as working with the leadership team to ensure performance expectations and strategic plan execution. He promotes company culture and is heavily involved with human resources. Andy also oversees financial operations and manages relationships with our carrier and agent partners.

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Reach new heights.

You have invested time and energy into your firm, and you’re still passionate about the insurance business, your clients and your employees. If you’re interested in taking your business to the next level, while enjoying the fruits of your labor, let’s explore a possible partnership.

Why insurance firms choose to partner with Higginbotham: • Ten-year average return of 30% IRR • Ten-year average annual shareholder distribution of 25% • Insurance Business America, 2022 Top Insurance Employer • Privately-held and run by insurance professionals • Majority ownership held by employee shareholders • Leverage Higginbotham’s consistent 20% compound annual growth rate • Broad risk management and benefit plan services add client value to support your growth • Maintain your leadership role • $5 million donated to nonprofits through the Higginbotham Community Fund Are you ready to soar?

Contact David Fishel | (817) 349-2260 | dfishel@higginbotham.com higginbotham.com

Our Tennessee-based Partners

See what our agency partners are saying

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46 The Tennessee Insuror

Company Briefs continued Patrick joined his brother Andy at Arlington/Roe in the summer of 2003 as the second member of the third generation of the Roe family. He first began working as a Personal Lines Assistant Underwriter and Underwriter. After five years, he transitioned to a Personal Lines Marketing Representative. In 2010, Patrick became Vice President and Director of Marketing. He was then promoted in 2020 to Senior Vice President for Sales & Marketing. He holds Certified Insurance Wholesaler (CIW) and Associate in Insurance (AINS) designations.

In 2024, he was promoted to Executive Vice President, Chief Sales & Marketing Officer. Patrick identifies strategies and growth opportunities in our core states in this role. He is engaged with agency partners to understand their needs, develops new sales strategies, and monitors marketplace changes. Patrick works closely with Andy Roe and Jim Roe to develop and implement sales strategies supporting growth.

Jim Roe has been preparing for this transition for some time as part of his commitment to perpetuating the family business.

While he remains actively involved, this shift represents a gradual handover of daily operations to Andy (President & Chief Operating Officer) and Patrick (Executive Vice President & Chief Sales & Marketing Officer) allowing him to dedicate more of his efforts to overall strategy, governance and industry positioning. Jim emphasizes that he has no plans to step away, but rather is focusing on guiding the business’s long-term direction and success.

Forbes names Erie Insurance one of America’s ‘Best-In-State Employers 2024’ Erie Insurance (ERIE) has been named to the Forbes list of America’s Best-In-State Employers 2024. ERIE is ranked among the top 20 employers in Pennsylvania in the list compiled by Forbes and Statista, Inc., a leading global statistics company.

This is ERIE’s fifth straight year on the list.

“It’s always an honor to be recognized as one of America’s BestIn-State Employers for Pennsylvania,” said Karen Skarupski, Erie Insurance’s senior vice president of Human Resources.

“At ERIE, we care about the well-being of each employee. We support their health with top-tier benefits, foster their growth through career development opportunities and continuously listen to ensure a positive work experience. Working together we create and strengthen the culture of service and caring that ERIE is well known for.”

Forbes and Statista ranked employers across the country based on an independent survey of more than 160,000 employees working for U.S. companies employing at least 500 people.

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INSBANK Bolsters Accounting and Finance Team for Strategic Growth In preparation for growing through the $1 billion asset threshold, INSBANK has made strategic investments in its finance and accounting department to navigate the complexities of FDICIA compliance and applicable regulations.

Since December 2023, INSBANK has strengthened its finance and accounting leadership team through a series of key additions to its team. Peyton N. Green, the newly appointed Chief Financial Officer (CFO), brings his extensive experience in financial management and strategic planning to lead INSBANK's overall financial strategy, including liquidity management, interest rate risk, financial reporting, and capital management.

In March, INSBANK hired Maya Demonbreum as Vice President, Controller. She oversees accounting operations and financial reporting. Most recently, Keith McCullar joined INSBANK in May as Senior Vice President, Chief Accounting Officer (CAO). Keith will provide leadership and expertise in accounting policies, procedures, and internal controls."Keith and Maya bring excellent experience and skillsets that will shape our financial reporting and compliance to enhanced levels. Their experience at growth-oriented, publicly traded financial institutions with multi-billion-dollar balance sheets will be an asset to us as we look to enhance our returns and growth for years to come," said Green.

This strategic expansion of the finance and accounting department demonstrates INSBANK's commitment to maintaining robust financial controls, delivering accurate and transparent financial reporting, and supporting informed decision-making for sustainable growth over the long term.

"It's not uncommon to observe banks pausing their growth right below the $1 billion threshold, ostensibly reacting to escalating accounting and regulatory standards," said Jim Rieniets, INSBANK President and CEO. "We prefer a proactive approach to that growing pain, so that we don't find ourselves distracted from serving our growth markets in Nashville and our nationwide healthcare banking business."

INSBANK is confident that this team will provide the financial leadership and expertise necessary to navigate the exciting opportunities that lie ahead for the company in its existing markets. INSBANK remains committed to transparency and looks forward to sharing its financial progress with existing and prospective investors alike. Investors should expect the press release highlighting results from the second quarter of 2024 in the coming weeks. u

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Big ‘I’ Expands Trusted Choice® Hard Market Toolkit

Company Briefs continued

BY Kasey Connors, Big “I" Vice President of Marketing Operations at Trusted Choice.

The newly expanded resource—which builds upon the toolkit first published in July 2023—covers a wide range of updates and strategies for navigating the challenges posed by the hard market.

In today's rapidly evolving economic landscape, navigating the complexities of a hard insurance market continues to be a challenge for independent insurance agents. To help them overcome these challenges and thrive, the Big “I" has expanded its Trusted Choice® Hard Market Toolkit.

The newly expanded resource—which builds upon the toolkit first published in July 2023—covers a wide range of updates and strategies for navigating the challenges posed by the hard market.

The toolkit will help agents gain a greater understanding of overall trends impacting the hard market by offering the latest updates on market trends, economic indicators and strategic insights.

The expansion includes more practical strategies for selling and advising clients amid tough market conditions to ensure agents remain competitive. Further, the toolkit expands on previous advice for enhancing communication

Workers’ Compensation We distinguish our Workers’ Compensation coverage by providing value-added services before, during, and after a claim.

Upfront loss control measures Responsive claims handling Facilitation of quality medical care (when an accident does occur)

Browse all of our products at WWW.GUARD.COM Our Workers’ Compensation policy is available nationwide except in monopolistic states: ND, OH, WA, and WY.

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strategies to build stronger client relationships, as well as advice for continuing community involvement initiatives to strengthen local presence and trust.

“As the insurance industry continues to deal with these difficult conditions, independent insurance agents are faced with both obstacles and potential opportunities for growth and adaptation," said Charles Symington, Big “I" president & CEO. “Our goal is to empower independent agents with the insights and tools they need to confidently navigate the current market, support their clients, and drive sustainable business growth."

The expanded toolkit also focuses on communicating with commercial clients, providing tools to tailor messages that resonate with businesses whose insurance has been impacted by the hard market.

Additionally, the sections “Increasing Your Retention to 96%" and “How to Stop a Cancellation" offer actionable steps to keep clients loyal as many agents pivot to retain business rather than sourcing new clients. Like the first iteration of the toolkit, the expansion includes ready-to-use email and digital templates that simplify and streamline communication, which save time while maintaining professionalism.

“We understand that each agent-client relationship is unique, and our toolkit is designed to offer flexible, actionable insights that agents can tailor to their specific business and clients' needs," said Kevin Brandt, executive director of Trusted Choice. “For independent agents, effectively communicating with clients is paramount to navigating the hard market. This updated guide will help agents stay proactive, informed and agile." u The Tennessee Insuror

INSURANCE

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For competitive protection and compassionate service, turn to your trusted workers compensation experts at UFG.

© 2024 United Fire & Casualty Company. All rights reserved.

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Education Calendar The Insurors of Tennessee offers education opportunities to member agents across a wide range of insurance specialties that satisfy individuals at many different experience levels. If you are looking to further your career, seeking a professional designation, or need to satisfy continuing education requirements, check out the variety of courses available. Additional course options and details of each class can be found online or by contacting Teresa Durham at tdurham@insurors.org or 615.515.2607.

Register for CISR & CIC at www.insurors.org under education.

Classes with (*) have option for in person or webinar event.

CISR 10/17 12/12

CISR Agency Operations* Commercial Property*

Nashville Nashville

CIC 11/20-21 Commercial Casualty* 12/4-5 Life and Health*

Nashville Nashville

Other 10/5-8

Nashville

Insurefest

2025 local classes will be announced soon.

Additional courses for designation programs are offered on-demand at your own pace and as live webinars.

The National Alliance for Insurance Education & Research is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Website: www.nasba.org. Advanced Curriculum Rating = 20 CPE Credits. For more information regarding administrative policies such as complaint and refund, please contact our offices at 800-633-2165.

Additional Courses Additional courses are available On-Demand and as Live webinars at the IIABA Virtual University *check the VU site for course offerings, CE and pricing (independentagent.com/vu) From The National Alliance (www.scic.com) Choose from the following programs CIC, CRM, CISR, CPRM, CSRM, Dynamics, RGS, MEGA, PROFOCUS, WTH, Intro, Producer School, Ethics, Flood and other.

Choose by topic, location, delivery method and/or date.

From The Institutes (ceu.com/customer/insurors-tn ) Insurors of Tennessee has partnered with CEU, powered

by The Institutes, to provide you with relevant and convenient online insurance continuing education (CE) courses.

Through our partnership with CEU, you will enjoy a 35% discount on any of CEU’s relevant, practical courses when you log in. More than 150 course topics.

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ABEN Webcasts (insurors.aben.tv) The below are examples of the webcast classes that are available at insurors.aben.tv. View website for more.

Active Shooter/Workplace Violence Ins. CE: 2 $56 Contracts Agents Should Read CE :2 $56 Flood Program Overview - NFIP Then/Now CE: 3 $84 E&O - Roadmap to Pers. Auto & Umbrella Ins. - #1 CE: 3 $84 E&O - Roadmap to Pers. Auto & Umbrella Ins. - #2 CE: 3 $84 E&O - Commercial Property Coverage Gaps - #1 CE: 3 $84 E&O - Commercial Property Coverage Gaps - #2 CE: 3 $84 E&O - Roadmap to Homeowners Ins. - #1 CE: 3 $84 E&O - Roadmap to Homeowners Ins. - #2 CE: 3 $84 E&O - Homeowners Endors. & Personal IM - #1 CE: 3 $84 E&O - Homeowners Endors. & Personal IM - #2 CE: 3 $84 Directors and Officers Liability Insurance CE: 3 $84 Premium Auditing–What Every Agent Must Know CE: 2 $56 Law of Ins. Contracts & ‘Rules’ of Policy Interpret. CE: 3 $84 Torts, Negligence and Legal Liability CE: 3 $84 Commercial Prop. Underwriting & Rating: COPE CE: 3 $84 E&O Risk Mgmt: Risk Mitigation and E&O Claims CE: 3 $84 Cyber Security & Risk Management CE: 2 $56 Basics of Prop. Values & Coinsurance Conditions CE: 3 $84 Contractual Risk Transfer, Addl. Insureds & Certs.

CE: 4 $112 Insurance Accounting for Dummies and Geniuses CE: 3 $84 Cyber Insurance Deconstructed CE: 2 $56 E&O - Roadmap to Policy Analysis - #1 CE: 3 $84 E&O - Roadmap to Policy Analysis - #2 CE: 3 $84 Hot Topics in Personal Lines CE: 2 $56 Insurance Ethics, Easy to Discuss, Harder to Achieve CE: 3 $84 Ethics in the Insurance Industry CE: 3 $84 Ethics - Creating a Winning Culture in the Agency CE: 3 $84 Insurance Industry: From Regulations to Operations CE: 3 $84 Business Auto Claims That Cause Problems - UPDATE CE: 2 $56 E&O Risk Management - (several topic options) CE: 3 $84 Risk, RM and Ins.: Why Agents Are NOT Risk Managers CE: 3 $84 Those Kids and Their Cars - UPDATE CE: 2 $56 Law of Ins. Contracts & ‘Rules’ of Policy Interpretation CE: 3 $84

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Auto Insurance Rose 15% in First Half of 2024

BY AnneMarie McPherson Spears, IA news editor Personal auto insurance rates rose 15% in the first half of 2024, according to data analysis from Insurify. The average annual premium now costs $2,329. By the end of the year, Insurify predicts that rates will have increased a total of 22%.

nearly 52% of Georgia, Florida, and South Carolina vehicle claims were total losses, according to CCC Intelligent Solutions. 2024 is predicted to be an extremely active hurricane season.

Maryland currently has the highest personal auto rates in the U.S., with an average of $3,400 annually. New Hampshire has the lowest, at $1,000 annually. However, California, Missouri and Minnesota are predicted to see auto insurance costs increase by more than 50% in 2024.

“I think climate risk will likely start to play a role in new areas. As we experience tornadoes, hail, and flooding in places where they weren't necessarily a major threat before, the increased frequency and severity of these events will need to be considered in pricing," said Betsy Stella, vice president of carrier management and operations at Insurify.

2024's rate increases continue the trend set in 2023, which saw premiums rise by 24% after insurers experienced record underwriting losses of $33.1 billion in 2022. While underwriting losses decreased to $17 billion in 2023, the hit was still enough to drive 2024's first-half increases.

One factor contributing to losses is vehicle maintenance repair costs—which have increased by nearly 38% over the past five years, according to data from the U.S. Bureau of Labor Statistics. While safety technologies can help drivers avoid crashes and the related premium increases, they're also expensive to repair. Advanced driver assistance systems (ADAS) can add up to 37.6% to the total repair cost after an accident, according to AAA data, and minor damages to front radar and distance sensors can add up to $1,540.

These costs are compounded by the increasing usage of expensive-to-repair electric vehicles, auto mechanic backlogs, and vehicles getting older as Americans hold onto their cars for longer. Average vehicle ages reached a record 12.6 years in 2024, according to S&P Global Mobility.

Increasingly severe and frequent weather events are also driving rate hikes. For instance, Minnesota experienced $1.8 billion in damages following a series of hail storms in August 2023, contributing to a 55% increase in rates. Hail-related auto claims represented 11.8% of all comprehensive claims in 2023, up from 9% in 2020, according to CCC Intelligent Solutions.

Hurricanes bring a surge of auto losses to coastal areas. For instance, during Hurricane Ian's peak days, Sept. 25-30, 2022,

The Tennessee Insuror

On the state level, legislative changes in states like Maryland—where drivers pay 46% more than the U.S. average and rates are projected to increase by 41%—and South Carolina—where drivers pay 43% more than the rest of the country with a 38% projected rise for 2024—have increased insurers' financial responsibility and led to higher premiums, Insurify said. California is catching up from the rate freezes during the coronavirus pandemic, leading to some insurers requesting double-digit hikes and others exiting the state entirely.

Additionally, car thefts have also driven up premiums. Missouri, which is predicted to see a 55% hike in 2024, and California, with a 54% predicted increase, are among the 10 states with the highest auto theft per capita, according to the National Insurance Crime Bureau.

It may be hard to believe now, but auto rates won't continue to rise forever. “Insurers implemented higher rate increases to account for changes in the frequency and severity of auto losses," Stella said. The COVID-19 pandemic and the following inflation, especially in the price of vehicle maintenance and repairs, along with changes in driving behaviors, led to new loss trends that increased the difficulty of rate setting."

“Some insurers have started making downward adjustments in areas where they've found opportunities to operate profitably while charging lower rates," she said. “Generally, consumers will continue to see rates rise with inflation, or in areas where traffic accidents are increasing, but in some states, they could see premiums decrease a little again." u

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Meetings- Mark Your Calendars Southern Agents Conference

The Whitley Atlanta

December 6-8, 2024

Buckhead

Atlanta, GA

Registration is Open

Big "I" Winter Meeting

Hilton Austin

January 29- February 1, 2025

Austin, TX

Big "I" Legislative Conference

The Westin (downtown)

April 30 - May 2, 2025

Washington, DC

AGENTS OF

Solidarity

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From caring field sales reps to dedicated agent service teams, we’re ready to help you grow. Plus, we supplement your counsel and guidance with aroundthe-clock claims and customer service via our mobile app and online servicing.

Whether it’s sales, service, claims or anything in between, you’ve got a partner every step of the way.

TO LEARN MORE Search for us online at Agents of Progressive, Progressive Connect, or Progressive Appointment.

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The Tennessee Insuror

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Market access placement center (Formerly Big “I” Markets)

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Learn more and join us!

BIGIMEMBERALLIANCE.COM The Tennessee Insuror

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Directory of Advertisers Advertiser

Phone

Website

Page

ACUITY 920 . 458 . 9131 www.acuity.com 42 Arlington/Roe 800 . 878 . 9891 www.arlingtonroe.com 19 AutoOwners 800 . 346 . 0346 www.auto-owners.com 41 Bailey Special Risks, Inc. 800 . 768 . 7475 www.bsrins.com 18 BBSI 760 . 445 . 5909 www.bbsi.com 21 Berkley Southeast Insurance Group 615 . 932 . 5508 www.berkleysig.com 27 Berkshire Hathaway Guard Insurance Cos. 800 . 673 . 2465 x4567 www.guard.com/apply 48 BlueCross BlueShield of Tennessee 800 . 565 . 9140 www.bcbst.com 21 Builders Mutual 800 . 809 . 4859 www.buildersmutual.com 38 EMC 800 . 447 . 2295 www.emcins.com 33 Fortified 615 . 440 . 0744 www.fortifiedagencies.com 14 Harford Mutual 800 . 638 . 3669 www.harfordmutual.com 55 Imperial PFS 443 . 613 . 4820 www.ipfs.com 13 INSBANK 866 . 866 . 4268 www.insbanktn.com 10 J.M. Wilson 800 . 595 . 0063 www.jmwilson.com 39 Liberty Mutual/Safeco 800 . 837 . 5254 libertymutual.com | safeco.com 37 Lipscomb & Pitts | A Higginbotham Partner 901 . 335 . 0951 www.lpinsurance.com 46 LUBA Workers' Comp 888 . 884 . 5822 www.lubawc.com 7 MEM 800 . 442 . 0593 hello-mem.com 30 MidSouth Insurance Company 844 . 438 . 6642 www.midsouthmutual.com 56 Mountain Empire Agency Alliance 423 . 560 . 6077 www.meaa4u.com/insurors 34 National Security Group 800 . 239 . 2358 x213 www.nationalsecuritygroup.com 32 Penn National Insurance 800 . 395 . 0518 www.pennnationalinsurance.com 22 Progressive 800 . 776 . 4737 www.progressive.com 52 RLI 615 . 515 . 2609 www.insurors.org 9 Rollo Insurance 888 . 447 . 6556 www.rolloinsurance.com 44 Selective Insurance 877 . 744 . 3125 www.selective.com 2 SFM 952 . 838 . 4207 www.sfmic.com 40 Stonetrust Insurance 800 . 311 . 0997 www.stonetrustinsurance.com 44 Swiss Re Lawyer's Professional Liability 630 . 213 . 9952 www.swissre.com 6 UFG Insurance 800 . 553 . 7937 www.ufginsurance.com 49 West Bend Mutual Insurance Co. 800 . 236 . 5010 www.thesilverlining.com 24

CO N T I N U I N G E D U C AT I O N REGISTER NOW AT INSURORS.ORG 54

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The Tennessee Insuror

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Workers’ Compensation InsuranCe For tHose WHo Build our Communities

MidSouth partners with wholesale entities and select retail agencies across its service footprint.

The company is always seeking opportunities to grow in ways that are sustainable and mutually beneficial. + Serving clients across sixteen states with expansion into additional states planned. + Common sense underwriting, exceptional service, responsive and fair claims settlement. + A Exceptional Financial Stability Rating® from Demotech, Inc.

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