Tennessee Insuror Magazine - March/April 2022 by Insurors of Tennessee

THE TENNESSEE

INSUROR

Advocacy & Government Affairs: The Quiet Sentinel for Independent Insurance Agents in Tennessee

March/April 2022 Volume 33 | Number 2

13 18

Government and Legal Update

Throwback to 2003... Insuror Members Serving Our Nation

Serving McMinnville For Over 120 Years

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meaa4u.com/insurors

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contents

THE TENNESSEE

INSUROR Vol. XXXIII, Number 2 March/April 2022 Phone 615.385.1898 Toll Free: 1.800.264.1898 Email: marketing@insurors.org Editor: Ron Travis Publisher: MarketWise, Inc

INSURORS OFFICERS

President ......................................................... Norfleet Anthony III IIABA National Director .............................. Cindi Gresham, CIC VP Region I ................................................................... Bobby Sain VP Region II, President-elect ............ Matt Swallows, CIC, CRM VP Region III ................................... Kym Clevenger, CPCU, CACW Treasurer .................................................... John McInturff III, ARM Secretary ........................................................ Richard Whitley, CIC Director, Region I ...................................... Eric Collison, CIC, CRM Director, Region I ................................ Jamie Williams, CIC, ARM Director, Region I ............................................................. Cy Young Director, Region II .................................................... Reno Benson Director, Region II ........................................................... Chip Piper Director, Region II ...................................... Paul Steele, CIC, CRM Director, Region III .................................................... Tim Goss, CIC Director, Region III .......................................... Bill Oldham III, CIC Director, Region III ........ Cindy Widener Winn, CPA, CIC, CBIA Director, Young Agents ................................. Matt Felgendreher Immediate Past President ...................................... Bob McIntire

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

Advocacy & Government Affairs:

Government & Legal Update

Throwback to 2003... Insuror Members Serving Our Nation

Insurors Debuts New Website

Serving McMinnville For Over 120 Years

The Quiet Sentinel for Independent Insurance Agents in Tennessee

departments 21

From Your President While You May Not Always See It There Is Much Work Being Done

From Your IIABA National Director As a Member, You Receive a Plethora of Products and Programs

From Your CEO What is the Value of an Association?

Tennessee Young Agents '22 Future Leaders Spotlight - Jonathan Lugo Join us at one of these upcoming events near you!!

Partners for Tennessee - Thank you for your support!

An Update Shields Up – Cyber Threat Environment

Association Update

Program Spotlight - Swiss RE

More Than Just a Convention

Company Briefs

Agents Serving Our Community

Insuror of Tennessee Staff Directory

Education Calendar

Meetings - Mark Your Calendars

Your Big "I"

Directory of Advertisers 3

Advocacy & Government Affairs: The Throughout the history of this association an important part of our work has centered around advocacy for independent insurance agents, insurance companies and other elements of the insurance industry in Tennessee. The ultimate mission has been and continues to be to ensure that we have a healthy and competitive insurance market in our state free of onerous legislation and rules that disrupt or impair the ability of the industry to deliver competitive insurance services and products. In many ways, the Insurors of Tennessee has served as a quiet an ever-present sentinel protecting the interests of members in Nashville and Washington. A healthy insurance market is not only in the best interest of the insurance industry but also in the public interest. By any measure, Tennessee is a shining example of a healthy insurance market where fair competition, good governance and reasonable regulation delivers for the citizens of Tennessee in the form of superior insurance products, competitive prices, and ample choice in the marketplace. To be clear, there are states across the nation where this is not the case. In some states ill-conceived legislation, bad policy, and regulatory overreach create market disruption and dysfunction. Independent insurance agents, insurance compa-

nies and in the end consumers all lose in such circumstances. No one wins and attempts to “fix” the issue in these states often results in even more market challenges. The insurance business continues to be largely regulated at the state level across the nation. What happens at the state capitols plays a critical role in making certain independent insurance agents and their company partners can deliver the insurance and risk management products needed by businesses and individuals. In Tennessee, looking back at the leadership of Jim Alexander, Chuck Bidek, and their respective staff members, the advocacy work they did over the long-term was instrumental in shaping the insurance landscape we enjoy in Tennessee today. To be clear, the engagement and effort of prior boards, governmental affairs committees, legislative staff, and members who responded to calls for action also played a critical role in presenting a unified voice to our elected leaders on a wide range of insurance related issues. As an association, we must build upon the advocacy and legislative successes of the past and must not rest easy today.

The Tennessee Insuror

Quiet Sentinel for Independent Insurance Agents in Tennessee The current session of the Tennessee General assembly has been less active this year relative to legislation that relates to the insurance industry according to Trey Moore our Government Affairs Consultant. This term the legislature and executive branch focused on education, economic development, and a myriad of other issues of the day. It is important to note that one session of the Tennessee General Assembly does not foretell the future and now is not the time to grow complacent. Today, advocacy has never been more important to our industry. While this work often goes on quietly behind the scenes, it continues to be vital to our industry now. One important component of the Insuors of Tennessee government affairs work centers on the Government Affairs Committee of the association. These members serve along with the Government Affairs Consultant as the focal point for evaluating pending legislation, developing communications, and coordinating activities to advocate for amending, supporting or opposing potential legislation at the state house.

The Tennessee Insuror

The group also works with the Big “I” in Washington, D.C. to represent the position of the Insurors of Tennessee on matters of importance at the Federal level and includes “Day on the Hill” events at the Capitol. Good advocacy and legislative affairs work can and does improve well-intentioned but misguided or potentially flawed legislation and in some cases averts bad legislation all together. Our elected leaders depend on informed input throughout the legislative process to fully understand the implications of proposed legislation to determine if a bill should be amended or advanced to a vote. So, the concerted work of the association and the full engagement of our members is key to better legislative outcomes. As members, we ask that you stay informed, active, involved, and engaged.

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Since 2022 is an election year, one-way members can be engaged is to contribute to InsurPACTN to help fund our efforts to support quality candidates who will be open to hearing from our membership and willing to consider matters important to the Insurors of Tennessee. We carefully evaluate those we support to ensure we only contribute to worthy candidates. Please request an InsurPACTN form from Jake Smith at jsmith@insurors.org to make a contribution. If you have a legislative issue or concern that needs to be addressed in Nashville or Washington, please contact a member of the Insurors staff to start the conversation. We look forward to hearing from you. Together, we will keep the insurance industry in Tennessee moving forward! u

Government Affairs Committee Contacts: Chris Allison

Allison Insurance Group Inc.

chris@allison-ins.com

731.668.8444

Jackson

Jimmy Ward

HUB International Mid-South

jward@thecrichtongroup.com

615.986.6222

Nashville

Trey Moore

Insurors of Tennessee

tmoore@insurors.org

615.385.9303

Jasper

Lou Moran

Inter-Agency Insurance Service, Inc.

lmoranIII@inter-agencyinsurance.com

865.637.4519

Knoxville

Kevin Ownby

Ownby Insurance Service Inc.

kevin.ownby@ownbyinsurance.com

865.453.1414

Sevierville

Portis Tanner

Westan Insurance Group, Inc.

ptanner@westaninsurance.com

731.885.5453

Union City

Bob McIntire

McIntire Insurance

bmcintire@mcintireins.com

423.472.5058

Cleveland

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STONETRUSTINSURANCE.COM The Tennessee Insuror

Government & Legal Update State Advocacy Update: Legislature Adjourns ‘Sine Die’, Pivots to Election Season As this magazine was going to print, the Tennessee General Assembly was in its final hours of its 2022 session. It was another successful session for the Insurors of Tennessee’s efforts to protect the livelihoods of Tennessee’s independent insurance agencies and communities across the state that you support. Legislation of general interest receiving final approval by the legislature include an overhaul of the state’s K-12 education funding formula, criminal justice sentencing reform, and funds to subsidize a new NFL stadium in Nashville. In fulfilling the only constitutional requirement of the General Assembly, lawmakers eventually gave final approval in late April to the state’s spending plan. The $52.8 billion budget included $418 million in tax cuts, including: • Reduction of the state’s portion of license plate registration fees ($121 million total, or approx. $20 per registration) • Temporary reduction in sales tax on food items for the month of August ($80 million) • Broadband tax relief ($80 million) • Removal of physicians from the list of professions subject to the state’s professional privilege tax ($9.7 million) • Reform of tax code on agricultural machinery and equipment ($3 million) • Sales tax exemption for gun safes ($320,000) Below are highlights of legislation of more particular interest to our members and the insurance industry:

required for a Medicare product marketing representative, unless licensing as an insurance producer is required under federal regulations by the Centers for Medicare and Medicaid Services (CMS). This legislation defines "Medicare product marketing representative" to mean an individual who: (1) Is authorized by a Medicare product insurer to engage in Medicare product marketing on the insurer's behalf; (2) Works under the supervision of a licensed supervising agent employed by the Medicare product insurer; and (3) Complies with applicable CMS training and educational requirements for Medicare products. The legislation was brought by the Farm Bureau and Insurors of Tennessee were neutral on the measure. Travel Insurance Model Act Public Chapter 703 is based on model legislation from the National Conference of Insurance Legislators (NCOIL) to establish some uniformity around travel insurance products. Tennessee becomes the 19th state to adopt some version of the model act. Under present law, the Travel Insurance Producer Limited License Act provides for the issuing of limited lines travel insurance producer licenses and travel insurance supervising entity licenses. The Act governs the business of travel insurance, which, under present law includes insurance coverage for personal risks incident to planned travel, including, but not limited to: interruption or cancellation of a trip or event; loss of baggage or personal effects; damages to accommodations or rental vehicles; or sickness, accident, disability, or death occurring during travel.

Split-Limit Liability Limits Public Chapter 860 raises the minimum amount of insurance coverage for property damage in any one accident that is required for a split-limit motor vehicle insurance policy to qualify as proof of financial security under the financial responsibility law from $15,000 to $25,000 and applies to policies issued or renewed after December 31, 2022. Insurors of Tennessee heard from numerous members and were in support of the effort. Requirements for Producer License Public Chapter 806 adds an exception to the general requirement that a person must be licensed in order to sell, solicit, or negotiate insurance in Tennessee for any class or classes of insurance and clarifies that a producer license is not 8

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This bill adds as specific inclusions under the Act coverage for emergency evacuation, reparation of remains, and another contractual obligation to indemnify or pay a specified amount to a traveler upon determinable contingencies related to travel, as approved by the commissioner of commerce and insurance, and various consumer protections, among other provisions.

Pharmacy Benefits SB2458 builds on legislation passed last year and promoted by the Tennessee Pharmacists Association. It imposes numerous restrictions and requirements on pharmacy benefits managers (PBM) and employer sponsored pharmacy benefit plans, including self-funded plans. In sum, the bill does the following:

Ridesharing, Delivery Company Disclosure Requirements Public Chapter 801 requires an entity that employs drivers or contracts with drivers who use the drivers' personal vehicles for the delivery of the entity's goods or services to inform its independent contractors that the drivers' automobile insurance may not cover commercial uses. The bill applies to any entity in the ridesharing service industry or goods delivery industry that does not provide automobile insurance coverage to those contractors. The legislation does not impose any requirements on producers or carriers. Insurors were neutral.

• Requires plans to establish an appeal process in which an in-network retail pharmacy can appeal reimbursement for prescription drugs if reimbursement is less than their “actual cost” to acquire the drug. • If a pharmacy prevails on appeal, the bill requires plans to i increase reimbursement at least equal to the pharmacy’s actual cost and would apply regardless of any contractual reimbursement terms mutually agreed to by a plan (or its PBM or third party administrator) and a pharmacy. • Imposes an “enhanced dispensing fee” of $11.98 for all plans when reimbursing small retail pharmacies (i.e. those that dispense less than 65,000 prescriptions annually) for claims on its plan. Current market dispensing fees generally average less than $2.00. • Imposes numerous restrictions on plan sponsors when creating and managing pharmacy networks. • Explicitly applies all provisions to self-funded plans governed by the Employee Retirement Income Security Act (ERISA) of 1974.

Another bill, SB1949, would have required primary automobile insurance and uninsured or underinsured motorist insurance that provides up to one million dollars for death, bodily damage, and property damage for a transportation network company driver engaged in a prearranged ride, and would have stipulated that the policy be maintained by the automobile driver or transportation network company. The House Insurance Committee rejected the bill, however, and sent it to “summer study” instead.

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Southern Trace 11

The bill was sponsored by both house and senate speakers. The 2021 law is currently the subject to litigation in Eastern District of Tennessee (McKee Foods Corp. v. BFP Inc. d/b/a Thrifty Med Plus). SB2458 is likely to be challenged on grounds that certain provisions are preempted by ERISA. Workers Compensation Public Chapter 742, as enacted, extends the deadline for an employer to file an annual certified financial statement with the department of commerce and insurance for purposes of showing the employer's ability to pay all workers compensation claims that may arise against the employer from the last day of the sixth month following the end of the fiscal year to the last day of the ninth month. The bill became effective upon the governor’s signature on March 24, 2022. Another bill, Public Chapter 715, was part of Governor Lee administration’s “legislative package,” and revises various provisions regarding the workers’ compensation judicial system: • Increases the number of terms a judge may serve on the workers’ compensation appeals board from two six-year terms to three; • Under present law, if a party is dissatisfied or aggrieved by the judgement of the court of workers' compensation claims then the party may appeal to the state supreme court. This bill revises this provision to specify that if a party is dissatisfied or aggrieved by a workers' compensation

appeals board decision to certify a compensation order of the court of workers' compensation as final, then the party may appeal to the supreme court; • Under present law, the decision of the workers' compensation judge becomes final 30 days after the workers' compensation judge enters a compensation order. If a party does not file a timely request for appeal to the workers' compensation appeals board, the order of the workers' compensation judge becomes final and may be appealed to the state supreme court. This bill removes the provisions for a party appealing to the state supreme court if the party did not file a timely request for appeal to the workers' compensation appeals board. The bill becomes effective on July 1, 2022. Please feel free to reach out to me if you have any questions about these or other state legislation. We are honored to be your voice at the State Capitol. 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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12 BCBS004258_L2rr_2021BrandPrint_Mom&2Kids_TnInsurorMag_7.5x4.875.indd 1

2/2/22 12:00 PM

Throwback to 2003...

Insuror Members Serving Our Nation Insurors is reprinting this article from a past issue of The Tennessee Insuror to recognize and remember those who served in the military. We know there are other stories from our membership that have not yet been told. We would like to hear your story, or of your colleagues or family, who have served in various capacities in the US military. Please see the end of this article for details. March-April, 2003— With our nation at war on several fronts, a few weeks ago the Insurors of Tennessee decided to explore writing a story honoring agency members who served in Active Duty, National Guard, or Reserves and had been called to support the war effort. Following are the stories we collected. TSGT. John Moran Lillian Alsup, of Miller & Loughry Insurance and Services, Inc. submitted the name of her son, TSGT. John Moran, who has been serving with the Tennessee Air National Guard for over twelve years. He has been on an active duty basis for the past six and a half years. He is married and has two children. Through the years John's his position with the Tennessee Air Guard has taken him to locations around the world from Panama to Turkey, in service to the nation. In December 2002, he was deployed with the 118th Security Forces Squadron, U.S. Air Force Security Forces, in support of Operation Enduring Freedom and then Operation Iraqi Freedom. His location and mission are undisclosed at this time. Lillian Alsup states, "I thank God every day that we have men and women who are willing to make sacrifices, so that we can live in freedom and without fear...I am so proud of my son and his family." (The family later reported that John had been serving in Qatar in the Persian Golf when this above story was written. He had returned home safely and continued to serve in the Tennessee Air National Guard.) The Tennessee Insuror

PFC. Nick Caruso Frank Caruso, President of Arthur J. Gallagher's office in Nashville shared this story of his son, Nick Causo. Prior to September 11, 2001, Nick was a student at Western Kentucky University and also serving in the Kentucky National Guard. Frank says, "My wife, Diane, and I sensed that as a result of the events of September 11, Nick felt compelled to do more to serve his country." They were right. In October of 2001, Nick joined the Army. After training, he was assigned to the Third Brigade, Second Battalion of the 101st Airborne, also know as the Rakkasans. He was deployed to Afghanistan to pursue elements of Al Qaeda and the Taliban across Afghanistan and into the border region of Pakistan, participating in in Operation Anaconda. He returned home after six months. On February 28 2003, Nick was deployed to Kuwait with the 101st Airborne in preparation for the war against Iraq. Naturally Frank and Diane Caruso were once again quite concerned about the safety and well-being of their son in view of the news from that part of the world. As is the case in wartime, communication between those serving and their families is uneven at best and precious when it occurs. The Caruso family has been fortunate. On March 21 at 4:50AM, the Caruso's received a phone call to turn on CNN. PFC. Nick Caruso was being interviewed by Ryan Chilcote on the Kuwait-Iraqi Border. While they missed part of the eight minute interview, they did get to see and hear their son just before his unit of the 101st moved into Iraq. A few days later, Frank found a large envelope from Canada in his mailbox. He could not imagine what he might be receiving from Ontario. As he opened the envelope, he found a note and a video tape. The night that Nick appeared on CNN, a Canadian citizen had been taping the news. This goodhearted soul decided that since the interview was so early in the morning, Nick's parents may not have seen it. This Canadian went to the effort to locate the Caruso's in Franklin, TN and forward the full interview to the family. Since then, Frank and the "good neighbor" to the North have talked, with Frank extending his great gratitude to the gentleman. 13

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Nick's family was able to follow the path of his unit as they set up and secured a forward refueling station deep in Iraq, known as "Camp Exxon" to support key aviation elements of the 101st. The "Rakkasans" then began the dangerous work of securing the areas behind the Army's Third Infantry Division as it charged to Baghdad. Nick's unit was assigned to take the city in Hillah in Central Iraq and other areas as the 101st moved to Baghdad.

ing day to day, Frank says, "Our faith, our great pride in our son and the support of friends both known and unknown have helped tremendously." The Insurors offers its thoughts and prayers and extends its gratitude to the families of John Moran and Nick Caruso and others serving our nation. u

Just a few days ago Frank and Diane were watching Fox News coverage of troops in the South of Baghdad. There, standing in the background behind the reporter in the front of the recently captured Baath Party headquarters, clearly stood PFC. Nick Caruso. This time he was not interviewed, but Frank and Diane did get to see their son, who looked a little weary but healthy. These past days have been difficult for the Caruso family and other families of service men and women serving in Iraq and other parts of the world. When asked how the family is cop-

Insurors of Tennessee wants to hear your story. If you, a colleague, or a family member have served in the military and would like to share that story, please send us an email or call 615.385.1898. marketing@insurors.org

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Insurors Debuts New Website If you have visited www.insurors.org recently, you will have noticed major updates to the look, layout and functionality of the site. After a lengthy evaluation and site-build, we are thrilled to unveil a new website with many key improvements and additions aimed at improving the user experience for our members. Enhanced Home Page When you visit www.insurors.org, you’ll first notice a group photo of our 2022 Board of Directors. Our Board dedicates much of their time to leading this association. In an effort to connect our members with our leadership, we felt it was necessary to allow our Board to virtually welcome each site visitor with a smiling face. From there, the home page contains many areas of emphasis to direct users to helpful resources that our association provides. Big “I” Markets, Events, E&O Program, and many other key areas are accessible through the home page. Association History Insurors of Tennessee has a 129 year legacy that predates the Big “I”! Many industry leaders in Tennessee have attributed to such a strong foundation for this association. We could not continue that legacy without sharing the story of Insurors of Tennessee. On the new site, there is an interactive history page that includes a list of our past presidents. This allows us to showcase the shoulders of the giants that we stand upon. Our history is shaped every day and we will make that known as we continue to tell that story. ‘Info Hub’ Portal Another key update to the new website is the addition of the ‘Info Hub.’ This is a user accessible portal that allows members to login and manage their membership information and preferences. Members can update their contact information, billing information, email blast subscriptions, event registrations, continuing education status, and much more! Insurors of Tennessee believes the ‘Info Hub’ will be a great tool for members to take full advantage of their membership and its many benefits! Improved Member Application One key aspect of the new website is the ease of use for our members. Insurors updated its internal management system in lockstep with the new website. Prospective members are now able to apply for membership with an online form that immediately registers them within the management system. This alerts association staff to begin the new member onboarding process with a greater level of service. Navigation and Accessibility As the association was evaluating the functionality of the website, it was noted that there were several redundancies in the menus. The sites header now features a menu setup that The Tennessee Insuror

helps users navigate the site to find all of its useful information. Users will be able to find pages with relative ease and efficiency reducing their amount of time spent navigating the website. Visual Appeal Along with enhancements to the layout of the website, Insurors of Tennessee wanted to visually appeal to our members as they interact with the site. Navy, red, and white have become the primary colors associated with the association as a nod to our Tennessee state flag. u 17

A Proud Insurance Agency Serving McMinnville For Over 120 Years Hoover & Son Insurance is a family-owned agency that has been serving the people of McMinnville and surrounding counties since 1901. It is a singularly remarkable achievement for a family owned-insurance agency to overcome the trials and tribulations presented to any business to persevere and indeed prosper for more than 120 years. Fred Hoover is the fourth generation of his family to carry forward the family business. Fred started his insurance career shortly after graduating from the University of the South in Sewanee, Tennessee going to work for Crawford & Company in Atlanta in 1982. He was then transferred to Lawton, Oklahoma to work in the claim’s office serving the Lawton/Ft. Sill area. In 1986, his family encouraged him to return home to work in the agency with his father and uncle. Fred’s experience in the claims aspect of the insurance business proved to be a solid foundation of knowledge to further his career as a producer and principal in an insurance agency. Since joining the agency in 1986, Fred and his staff have continued to grow and develop the business writing primarily, personal, commercial and farm insurance across the region. As the McMinnville area developed a robust wholesale plant and tree nursery industry, Fred and his associates earned the trust of owners to write insurance on their operations and built a healthy book of business in that market.

Fred says the greatest success of the agency has clearly been its longevity and ability to meet the insurance and risk management needs of the community as the community has evolved and changed. The most significant challenge as a small-town agency has been keeping a strong stable of insurance companies through the years to serve his clients. Fred’s agency is not alone in that challenge as insurance companies merge and consolidate their operations sometimes exiting smaller markets. Nevertheless, true to his family heritage of perseverance, Fred has built a strong group of insurance companies the agency represents to make certain his staff can provide competitive rates and products to his clients. Fred is proud of McMinnville and how the community has dramatically improved the town square by way of the Main Street Revitalization project turning an area that was once in decline into a vibrant business community with restaurants, shops and businesses where people come to gather. His agency is located on the square overlooking a beautiful park area and fountain. One restaurant on the square was featured on the program Tennessee Crossroads and draws people from across the state to sample their delicious meals. Another interesting aside we discovered during conversations with Fred is that he and Trey Moore both graduated from the University of the South in Sewanee and were classmates. As large as the insurance industry is in Tennessee, it can also be a small world at times serving communities across the state. Whether an independent agency serves a small community or metropolitan area, each is important to their clients. Tennessee is fortunate to have an active independent agency presence across the state. u

The Tennessee Insuror

TOGETHER

WORKING

“Exclusive member agencies, collaborating to bring the best insurance solutions to their clients.” The Allison Insurance Group - Jackson Assured Insurance Consultants, LLC - Morristown Bagley & Bagley Insurance - Fayetteville Boyle Insurance Agency, Inc. - Memphis Burke, Powers & Harty - Bristol Carnal-Roberts Agency, Inc. - Lexington Frank E. Neal & Company, Inc. - Nashville Goss Insurance - Hixson Higgins Insurance - Clarksville/Hopkinsville, KY Inter-Agency Insurance Services - Knoxville The Tennessee Insuror 38

Martin & Zerfoss, Inc. - Nashville McInturff, Milligan & Brooks - Greeneville Miller | Loughry | Beach Insurance Services - Murfreesboro Ownby Insurance Service, Inc. - Sevierville Powell & Meadows Insurance Agency - Carthage Smith-Berclair Insurance, Inc. - Memphis S.N. Anthony, Inc. - Ripley Sunbelt Insurance Group - Chattanooga Tigrett & Pennington Inc. - Dyersburg Watauga Insurance, Inc. - Johnson City

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19 The Tennessee Insuror

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From Your President Norfleet Anthony, III

presented by

While You May Not Always See It There Is Much Work Being Done Since this issue of the Tennessee Insuror magazine focuses on the advocacy and government relations work of the association at the state level in Nashville and the national level in Washington D.C., I want to take this opportunity to emphasize the critical nature of this work that often goes on quietly throughout the year but becomes more noteworthy when the legislative bodies are in session and during election years. A good analogy might be the ducks that gracefully glide across the waters of Reelfoot Lake here in West Tennessee. While they serenely pass across the water, they are vigorously paddling under the water’s surface to keep moving towards their destination. While you may not always see it, there is much work being done. At the state level, the Tennessee General Assembly is nearing the end of its session this year as this column is being written. Your Insurors of Tennessee Government Affairs Consultant, Trey Moore and members of the Government Affairs Committee have been actively tracking and following bills since the first day of the General Assembly that convened on January 11, 2022. We always work to keep you updated about what you need to know along the way and on occasion issue a call to action to contact your elected representatives. This year the legislature did not propose any major bills of concern relative to our business. It is important to note that historically that has not always been the case.

The Tennessee Insuror

For many years, we held a “Day on the Hill” event for our members to meet with their elected leaders to discuss matters important to the association and to the individual members. Since the start of the pandemic, these types of events have not been held in the interest of safety. We hope to be able to resume this event in 2023. This year we were able to hold a legislative reception at the Insurors of Tennessee offices and we have been meeting with and communicating with elected leaders in the Tennessee General Assembly as needed. Trey Moore’s column provides more insight into the specifics about this session. Please be sure to give it read. As you all know, 2022 is an election year. As such, we need to make sure we raise enough money to be able to contribute to candidates running for office across the state worthy of our support. If you have not already contributed to InsurPACTN, please consider doing so at your first opportunity. Please contact the Insurors of Tennessee office for details. At the national level, a contingent of members from the Insurors of Tennessee went to Washington D.C. to attend the Big I Legislative Conference held April 27-29, 2022, to participate in several sessions and to meet with Tennessee’s Congressional delegation to discuss matters important to the Big I and the Insurors of Tennessee at the national level. We will provide you with more information about this important meeting in the next issue of the Tennessee Insuror.

I recall travelling to Washington D.C. with my father when he was President of this association to attend a “Big I Legislative Conference back in the day. As a young man, I was just trying to take it all in and learn from my time in the nation’s capital. One thing I did learn as someone just getting started in the insurance industry was that the insurance business is large and complex and is very much tied to what happens in the halls of Congress and at 1600 Pennsylvania Avenue. That notion is certainly important today. The size, scope and tenor of today’s Big I Legislative Conferences are certainly different from those in the past. I remember my dad and his contemporaries telling the story of how they hunted quail in West Tennessee and froze them in ice chests. They flew to Washington with the ice chests in tow. The quail were the featured dish at a cookout for members of the Tennessee Congressional delegation. The story goes a good time was had by all at the cookout, and it was a great opportunity to gather with elected leaders. It seems I am ending this article as started with a reference to birds. Perhaps it is because West Tennessee is known for its native bird populations and for being on migratory routes of many birds. Finally, I want to thank Trey Moore, Lou Moran and the members of the Insurors of Tennessee Government Affairs committee for the work they do to provide overwatch relative to government affairs in Nashville and Washington. u

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From Your IIABA National Director Cindi Gresham, CIC

As a Member, You Receive a Plethora of Products and Programs In my last column, I discussed the services offered by IIABA (Big I) and Big ITN/Insurors, but did you know that with your membership, you also have access to several other programs that may be of benefit to you and your agency? • ACT (Agents Council for Technology) is for agents looking for technology solutions on the agency level. They are our industry’s leading experts and will provide blueprints on disaster planning, cyber security, customer experience and other emerging trends. Join an ACT meeting or virtual workgroup. • Do you have an insurance question that you need answered? You can Ask An Expert…simply look in the Research Library for popular Frequently Asked Questions or submit your questions online through the Ask An Expert Service. Whether you have a coverage, claim or how to question, they can help with the answer.

• Best Practices can help your agency improve performance and efficiency. You can become a qualified Best Practices Agency or review the materials to make your agency highly successful. Offered are tools based on other Best Practices Agencies’ performances. Everything you need to know from Producer contracts and Customer Service Experience handbooks to Self-Diagnostic Tools is available for your agency use. • The number one concern for agencies is how to find and develop qualified employees. Big I Hires was created by insurance professionals as a one stop resource to recruit and develop qualified talent. Big I Hires works with Ideal Traits to assist you with your job post on various highly successful sites so that you will attract the right candidate for your agency. You can pre-screen applicants to ensure job performance as well as assisting you with HR support for your policies and procedures.

• The Trusted Choice Disaster Fund is available to assist members and their staff in the event of unrecoverable losses caused by hurricanes or other natural disasters. It provides financial aid for victims and their families and includes social, economic, and psychological recovery. • Discover the opportunities and benefits of embracing diversity and encouraging change necessary for the Independent Agency System through Big I Diversity. The educational and resource materials will help agencies create a diverse market and grow their business. • The E&O Program offers not only coverage for your agency’s E&O but also Risk Management Services and E&O Audits that will guide your staff on reducing a potential E&O claim. You can download the various guides and articles or watch a Risk Management webinar at your convenience. There is a considerable cost savings on your E&O premium for having an agency approved audit. • Government Affairs is one of the basic benefits of our Association. Please consider giving to both the State and National PAC. Now more than ever, your support is vital to be certain that our interests are protected Additional resources include: Invest, Legal Advocacy & Governance, Marketing and Branding Opportunities Trusted Choice, the Virtual University and Young Agents.

Find more information and links to these programs on the Big I website: independentagent.com The Tennessee Insuror

Your membership in the Big I provides you with all of the tools needed to become a successful and trusted Independent agent. u 23

It shouldn’t take four days with no power, water, or communication to find out who your friends are.

BUT SOMETIMES IT DOES. And that’s the Silver Lining®.

The Tennessee Insuror

From Your CEO Ron Travis

presented by

What is the Value of an Association? It’s 2022. In the age of ubiquitous information freely available online, why should you choose to spend your time, energy, and hundreds of dollars in membership dues each year to stay involved with an association? At Big I / Insurors of Tennessee, everything we do is to help you and your organization solve your information-driven business challenges. More than just information, we provide you the benefit of shared experience, expertise, and the context to better interpret the information available to you. Information alone without context and informed analysis can lead to strategic errors or missed opportunities for insurance professionals. Associations Provide Opportunities to Meet and Engage with Peers and Colleagues To me, this is the most important benefit our association can provide. The Insurors of Tennessee is made up of people who share similar challenges and opportunities. Whether it is an annual conference, a regional meeting, a local chapter meet-up, or even a virtual event, nothing can replace personal interaction with other smart people. Importantly, we also create and encourage opportunities to connect with vendors and company providers who provide critical services and support to agencies. At our core, we share common goals and work together for the greater good to achieve those goals. Associations Offer Opportunities for Professional Development and Recognition Our association offers significant opportunities for professional development and recognition of individuals and teams. The Tennessee Insuror

Leadership: In addition to our statewide association, we also have local chapters active in markets across the state. At the state level and at the local chapter level, members of the association can serve on the statewide board or local boards to provide governance and guidance to the association. Service on these boards is an excellent place to develop deeper knowledge about our industry and to further develop leadership skills from a strategic perspective. Service on Insurors of Tennessee boards at the state and local level is a clear win-win for members.

Education & Training: We oﬀer formal training on a wide array of topics related to critical aspects of the insurance business that align with the focus and mission of your agency or company. But training is also much more than getting a dozen people in a conference room for a few days. Training can be attending an annual conference, listening to a webinar, or reading an eBook. Professional education and learning takes on many forms and never stops. Members of the association can also be the educators via speaking engagements, delivering presentations, or writing about topics to educate others inside and outside the industry. Professional education is the fuel that drives the insurance business.

Professionalism: Being a member of a recognized association is one of the hallmarks of a professional. While it may be a bit of a circular argument that joining a professional association marks you as a professional. It’s often true, especially for less experienced staff. Awards: The receipt of an award from a professional association is a significant professional achievement that underscores an individual’s contributions to the association and, by extension, the profession or industry. Awards are often the capstones of service to the insurance profession widely respected by peers and members of the business community. Advocacy & Legislative Affairs A very critical service the Insurors offers centers around advocacy and representation on Capitol Hill in Nashville and in Washington D.C. Through our governmental affairs consultant we stay clearly informed about key pending legislation that could impact the insurance business and have the opportunity weigh in on pending bills. Can You Afford NOT to be Part of an Association? There are many other benefits of being a member of the Big I / Insurors of Tennessee association provides including discounts on “stuff” ranging from conference and training registrations to health insurance. The combined value of the information, expertise and services of the association makes it a tremendous value for members. The dues you and your agency pay each year pay a significant return to the success of your agency or company. u

Tennessee Young Agents '22 Future Leaders Spotlight

presented by

Jonathan Lugo • Veritas Insurance, Johnson City Jonathan Lugo is a young man on a mission in what promises to be a successful insurance career. We had the opportunity to have a conversation with Jonathan and we are pleased to share part of it with you in the following Q&A.

Jonathan, please tell us about you and introduce yourself to our readers.

I was born in Salt Lake City, Utah and moved to Jonesborough, Tennessee with my parents sixteen years ago. I had the unique experience of being home schooled from kindergarten age through my senior year of high school. During those years I also learned to play the violin and viola. These days I play in an orchestra. My four siblings also play stringed instruments. So, we were a musical family. In addition to music, I also enjoy reading for pleasure and for my personal development. In May, I will graduate from Bob Jones University with a degree in General Studies where I emphasized business. I am getting married in August to my fiancé whom I have known for years. We both share an interest in music and were friends for many years before our relationship evolved into something more. There is a lot happening in 2022!

How did you start your career in insurance?

Andrew Darlington, who is a friend of the family, offered me an internship with his agency part time while I was working on my degree. As part of my internship, I helped the agency with their customer support and customer relationship platforms which also introduced me to the insurance business. Now I am beginning my career as an insurance producer and learning a tremendous amount about the business.

What have you learned at this stage of your career?

At the start, I learned that insurance is a large and complex business with many different facets. So, with the help of Andrew Darlington and other mentors, I learned that it is important to focus on specific areas of insurance to become 26

an expert in that niche. I am focusing on one specific market segment of commercial insurance in specific states that present opportunities for me to build a book of business. At present, I am licensed to sell commercial insurance in fifteen states. That number will grow in time as I further expand my market reach over time.

Who is your primary mentor and what is helping to educate and fuel your career at this point?

Andrew Darlington, the principal and owner of Veritas Insurance in Johnson City has been a very important part of my education and development in the business. I appreciate the investment of his time and effort to help me become successful. Andrew also encouraged me to get involved with the Protégé program which is an online reality show that pairs insurance producers and coaches to compete in a series of challenges.

Tell us more about the online show.

The name of the program is The Protégé. I am in Season 2 of the competition and have learned a lot about the insurance and what it takes to be a leader in this business. The program is geared to accelerate growth and development while emphasizing accountability. Preparation for the show and the various challenges is a significant commitment. I am nearing the end of the program now and have benefited greatly from the coaching and input I received from David Carothers, Mick Hunt and Ryan Keating. As I look back, I would certainly do it again considering how much I have learned and developed because of the program. If you’re interested in the webbased show and learning more about the Protégé, visit the website at https://kill ingcommercial.com/theprotege/.

Why should a young person just starting their career consider a job in the insurance industry?

I think the insurance business offers so much opportunity for career growth and success. It is far more than just sitting at desk and doing the same thing every day. There are so many elements to insurance and so much to know. You have the opportunity to learn about the businesses you insure and become an expert in certain lines of insurance to help protect the companies you serve as you develop a book of business. Thank you for sharing your story with us, Jonathan. We wish you the best as you go forward in your career. u The Tennessee Insuror

Perpetuate the future of our industry by empowering and educating the younger generation of agents. Young Agent: anyone under 40 years of age or an agent who has been licensed for less than five years.

Are you making the Right Choice for their Business? BSIG Makes It Easy With Choice Classes For Middle Market Risks

Young Agents are producers or CSR's who are hungry to grow in their industry by developing business, establishing connections, and participating in the future of our industry.

Middle Market Choice Classes*

Join us at one of these upcoming events near you!!

• General Contractors • Building Trade Contractors • Utility Contractors • Land Improvement Contractors • Pavement Maintenance-Non DOT

Knoxville area Young Agents Social Thursday, May 5 4 – 6 PM EST (drink tickets included) Token Tavern 213 N Seven Oaks Dr.

Below is just a broad listing. If you don’t see what you’re looking for, please contact us.

• Services Contractors • Building Cleaning & Maintenance Contractors • Construction Material Suppliers • Manufacturing • Wholesale and Distributing

* All classes may not be available in all states.

Our Claim Commitment Chattanooga area Young Agents Social Thursday, May 12 4 – 6P M EST (drink tickets included) Naked River Brewing & BBQ – 1791 Reggie White Blvd.

• 24/7/365 loss reporting-including online • • Accelerated auto and property estimating and repair options • • “Fast Track” medical only claims handling program • • Tele-emergent medicine program-connects injured workers to medical care, not “triage” •

Want to know more? Bill Vanderslice, Regional Vice-President 615-932-5508 | bvanderslice@berkleysig.com or your Middle Market Underwriter

Memphis area Young Agents Social Thursday, May 19 4 – 6 PM CST (drink tickets included) Grind City Brewing Co. 76 Waterworks Ave.

Your Back-in-Business Insurance Company® Nashville area Young Agents Social Tuesday, May 24 3:30 – 6 PM CST (golf, drinks, food included) TopGolf Nashville 500 Cowan St. The Tennessee Insuror

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Berkley Southeast Insurance Group is a member company of W. R. Berkley Corporation, whose insurance company subsidiaries are rated A+ (Superior) by A.M.Best. Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. A M

BEST

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PARTNERS FOR TENNESSEE

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Thank you for your supPort of Tennessee Independent Agents The generous support of Insurors of Tennessee partners is a key component of our ability to deliver a wide range of services and support to members and to ensure we maintain a healthy and vibrant insurance industry in Tennessee. The strength of this organization is born out of the engagement and involvement of our industry partners and members.

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As members, please take note of our partners and consider doing business with them if the opportunity arises. We look forward to a positive and productive 2022.

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An Update.... Shields Up – Cyber Threat Environment CISA, FBI, NSA, AND INTERNATIONAL PARTNERS WARN ORGANIZATIONS OF TOP ROUTINELY EXPLOITED CYBERSECURITY VULNERABILITIES Based on a heightened threat environment as a result of the war in Ukraine and the stepped-up activities of Russian government and state sponsored hackers, the U.S. Cyber Security and Infrastructure Security Agency has emphasized its Shields-Up Campaign. In fact just this past week, Austin Peay State University in Clarksville, Tennessee experienced a major ransomware attack that caused the university to issue an immediate order to all students and faculty to turn off all computers, cell phones and other technology to prevent the spread of the virus. The university was able to limit the degree of damage but had to cancel final exams and other key activities as they attempted to recover from the ransomware attack. To be clear, attacks and intrusions are happening across the state and the nation. Provided below is the latest update from CISA to help you understand the scope of the threat and to take steps to protect your agency or company. (Original release date: April 27, 2022) WASHINGTON –   The Cybersecurity and Infrastructure Security Agency (CISA), National Security Agency (NSA), Federal Bureau of Investigation (FBI), Australian Cyber Security Centre (ACSC), Canadian Centre for Cyber Security (CCCS), New Zealand National Cyber Security Centre (NZ NCSC), and the United Kingdom’s National Cyber Security Centre (NCSC-UK) issued a joint Cybersecurity Advisory today on the common vulnerabilities and exposures (CVEs) frequently exploited by malicious cyber actors, including the 15 most commonly exploited of 2021.   Malicious cyber actors continue to aggressively target disclosed critical software vulnerabilities against broad target sets in both the public and private sectors. While the top 15 vulnerabilities have previously been made public, this Advisory is meant to help organizations prioritize their mitigation strategies.

The cybersecurity authorities recommend the following prioritized mitigation measures:    • Vulnerability and configuration management, including updating software, operating systems, applications, and firmware, with a prioritization on patching known exploited vulnerabilities; implementing a centralized patch management system; and replacing end-of-life software. • Identity and access management, including enforcing multi-factor authentication (MFA) for all users; if MFA is unavailable, require employees engaging in remote work to use strong passwords; and regularly reviewing, validating, or removing privileged accounts.   • Protective controls and architecture, including properly configuring and secure internet-facing network devices, disabling unused or unnecessary network ports and protocols, encrypting network traffic, and disabling unused network services and devices.   “We know that malicious cyber actors go back to what works, which means they target these same critical software vulnerabilities and will continue to do so until companies and organizations address them,” said CISA Director Jen Easterly. “CISA and our partners are releasing this advisory to highlight the risk that the most commonly exploited vulnerabilities pose to both public and private sector networks. We urge all organizations to assess their vulnerability management practices and take action to mitigate risk to the known exploited vulnerabilities.” "This report should be a reminder to organizations that bad actors don't need to develop sophisticated tools when they can just exploit publicly known vulnerabilities," said NSA Cybersecurity Director Rob Joyce. "Get a handle on mitigations or patches as these CVEs are actively exploited.” "The FBI, together with our federal and international partners, is providing this information to better arm our private sector partners and the public to defend their systems from adversarial cyber threats," said FBI's Cyber Division Assistant Director Bryan Vorndran. "Though the FBI will continue to pursue and disrupt this type of malicious cyber activity, we need your help. We strongly encourage private sector organizations and the public to implement these steps to mitigate threats from known vulnerabilities, and if you believe you are a victim of a cyber incident, contact your local FBI field office." “Malicious cyber actors continue to exploit known and dated software vulnerabilities to attack private and pub-

The Tennessee Insuror

lic networks globally,” said Abigail Bradshaw, Head of the Australian Cyber Security Centre. “The ACSC is committed to providing cyber security advice and sharing threat information with our partners, to ensure a safer online environment for everyone. Organizations can implement the effective mitigations highlighted in this advisory to protect themselves.”

“The NCSC and our allies are committed to raising awareness of global cyber vulnerabilities and presenting actionable solutions to mitigate them,” said Lindy Cameron, CEO of NCSC. “This advisory places the power in the hands of network defenders to fix the most common cyber weaknesses within the public and private sector ecosystem. Working with our international partners, we will continue to raise awareness of the threats posed by those which seek to harm us.”

“Cyber security best practices, including patch management, are essential tools for organizations to better protect themselves against malicious threat actors,” said Sami Khoury, Head of the Canadian Centre for Cyber Security. “We encourage all organizations to take action and follow the appropriate mitigations in this report against known and routinely exploited vulnerabilities, and make themselves more secure.”

All organizations are encouraged to review and implement the recommended mitigations in this detailed joint CSA.

“We are seeing an increase in the speed and scale of malicious actors taking advantage of newly disclosed vulnerabilities,” said Lisa Fong, Director of the New Zealand Government Communications Security Bureau’s National Cyber Security Centre (NCSC). “The NCSC works with international partners to provide timely access to critical cyber threat information. This joint advisory underscores the importance of addressing vulnerabilities as they are disclosed and better equips New Zealand organizations to secure their information and systems.”

2022 JM Wilson TNInsur OUTLINES.indd 2

The Tennessee Insuror

Organizations should share information about incidents and unusual cyber activity with their respective cybersecurity authorities. When cyber incidents are reported quickly, it can contribute to stopping further attacks. In the U.S., organizations should inform CISA’s 24/7 Operations Center at report@ cisa.gov or (888) 282-0870, or an FBI field office.    About CISA:   As the nation’s cyber defense agency, the Cybersecurity and Infrastructure Security Agency (CISA) leads the national effort to understand, manage, and reduce risk to the digital and physical infrastructure Americans rely on every hour of every day. Visit CISA.gov for more information, or visit www. CISA.gov/shields-up for information on how to protect your networks. u

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The Tennessee Insuror

Association Update Our Visit to a Local High School Successful Insurors of Tennessee went to visit Holloway High School, in Murfreesboro, to spread awareness of careers in insurance. The trip was such a success as seven students registered for our online insurance education boot camp. The boot camp is a crash course on all aspects of a career in the insurance industry. Several students came to us with questions and were interested in all the benefits our industry has to offer. Following is a conversation with a teacher during our visit. The Insuror: Do you think your students have been motivated by our visit here today? Teacher: I think it’s a really good way to reach some kids who don’t know about the job opportunities in insurance. These are jobs where they can earn a good living even without going to college. So yes, I talk about this in my classes. I did not realize the flexibility of the many careers in insurance. And, you don’t have to work weekends. The Insuror: What benefits do you see students gaining from learning about insurance careers early? Teacher: Some careers you talked about are going to be very appealing to the kids who do not want to go to college. They would just need specific education that costs much less and takes less time than going to college. Definitely, I think we need to teach about insurance career opportunities. I love the zoom insurance boot camp idea. Thank you so much for coming today. I think this was a real success.

Women In Insurance: WINS Events In April, WINS hosted an event at Coletta's Restaurant in Memphis. A big thank you to Bailey Special Risk and Imperial PFS who sponsored the event. The food was delicious and everyone had a great time networking, socializing and hearing from speaker Shante Avant, with Women's Foundation of Greater Memphis. Please mark your schedule to attend an upcoming event. 8/23 in Knoxville - details to be announced 10/17 in conjunction with the Annual Convention The Tennessee Insuror

Cindi Gresham Featured in Big I Magazine BY Olivia Overman, Big I

Gresham was studying biology at college when a friend of her father asked if she or her sister would be interested in a summer typing job at an insurance agency. While Gresham did not know how to type, the owner asked if she could be accurate and she replied, “What dummy can’t do that?” She was hired and started working her way up, promoted to personal lines customer service representative (CSR) and then to commercial lines CSR. Gresham later joined Boyle Insurance Agency as a commercial CSR. “I worked my way up and was eventually promoted to senior vice president and then became president of the agency in 2010. I’ve been here 34 years.” As the national director for the Insurors of Tennessee, Gresham’s career path demonstrates how a typist with ambition and drive can have a successful and rewarding insurance career. What Advice Would You Give a CSR in 2022? Always do your best. Never compromise your values. Be honest and thorough. Continue to learn and grow in our industry. Get involved with your state and national Big “I” association. Goals are good to have, but don’t spend so much time focusing on the future that you miss today. It is a gift. How Does Education Open Doors? I highly believe in education. I believe in continuing that throughout your career. When you take time to master each step and continue to learn, the possibilities are endless. That is why at Boyle we pay for all continuing education and insurance designations. Biggest Challenges? Right now, it is finding personnel. We started a program where we are going to use a former secretarial desk for entrylevel people where we will train them and help them get licensed. Even if we do find people to work at our agency and we are not a good fit for them, I feel like we've still been successful getting someone into our industry. I will never feel bad or begrudge anyone for trying to do better, but right now it's hard when you can't find people at all. Biggest Changes? I remember when we changed to the commercial lines manual and people were saying this will never work because you must have separate manuals for each line of business, like a fire rate manual, a crime manual and a surety manual. When I came to Boyle I had a little computer experience and some of the older ladies that worked here told me I was going to have to do all the work because I knew how to work a computer. I think there have been lots of changes already, but I think we're going to see a lot more. 33

Tucker Agency Hires New Controller/Client Manager and Commercial Producer Tucker Agency, an independent insurance agency based in Nashville, has announced the hiring of Halsey Fischer to assist with client management. Fischer has been an accountant his entire career, most recently working with HCA. He will not only be a client manager for Tucker Agency but will also serve as the company’s controller. He is a Nashville native and graduated from Montgomery Bell Academy. In addition, he earned a Finance degree from Southern Methodist University and has worked in financial services for over 14 years. Will Tucker, agency founder and principal said of the addition, “I’m excited that we have someone with Halsey’s background and experience to add to the capabilities of our agency. We are

confident that he will provide excellent customer service and exceptional responsiveness for our insureds.” Megan Callender has joined their team as a commercial producer. In her new position, she will bring her experience in sales and client relations to help businesses implement better solutions for their insurance and risk management needs. Previously, Callender worked as a senior director and client relations manager for an upscale executive matchmaking company. In that role, she regularly advised and worked with c-level executives of fortune 500 companies and entrepreneurs in a wide array of industries. “We’re very excited to add someone of Megan’s caliber to our team. In an industry that is underrepresented by female producers Tucker Agency is committed to changing that dynamic,” says Will Tucker, agency founder and principal. u

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The Tennessee Insuror

Program Spotlight

PROFESSIONAL L I A B I L I T Y.

WHAT’S NEW WITH THE RPG POLICY FORM? Swiss Re Corporate Solutions is pleased to share these important changes in the RPG policy form with policyholders, effective February 1, 2022. Please note that the effective date may vary by state; check with your state program manager.

DEDUCTIBLE REDUCTION

Policyholders now have three ways they can reduce their deductible. Deductible will be reduced or waived by the largest of the three options up to a maximum of $25,000.

CONSENT TO SETTLE

The Consent to Settle clause has been removed.

INSOLVENCY EXCLUSION

The AM Best rating requirement has been relaxed from B+ to B.

PROFESSIONAL SERVICES

The deϐinition now includes services rendered in referring a client to another insurance professional.

KEY INSURANCE PROFESSIONAL ASSISTANCE

A new coverage for qualifying insureds will reimburse up to $5,000 for the services of an insurance professional if a key insurance professional becomes incapacitated.

NEWLY ACQUIRED ORGANIZATIONS

Automatic coverage if revenues of newly acquired business are less than 15% of existing insurance revenue and eligibility requirements are met.

AND MORE!

CATASTROPHE EXTRA EXPENSE FEATURE The time frame in which the expenses can be incurred has increased from 30 to 90 days. The limits provided are now in addition to the policy limits and do not reduce the limit of liability. PERSONAL DATA PROTECTION The limits provided are now in addition to the policy limits and do not reduce the limit of liability. PRE-CLAIM EXPENSE COVERAGE Until the date a claim is made, the company may pay for costs or expenses it incurs as the result of investigating a potential claim.

CRISIS MANAGEMENT The limits provided are now in addition to the policy limits and do not reduce the limit of liability.

OTHER INSUREDS Policy now includes coverage for independent contractors while acting on your behalf within the scope of their duties, whether or not they are a sub-producer. MARKETING OF PEOS The deϐinition of Other Related Services has been broadened to extend coverage for speciϐied activities in the marketing of PEOs.

EXTENDED REPORTING PERIODS (ERP) The cost of optional ERP choices has been lowered and an unlimited ERP option is now available.

Questions? Contact your Big “I” Professional Liability state program manager.

NOTE: The Liberalization Clause in the current policy conrms that the broader terms and conditions of the new policy that are offered to all Insureds will apply to all policies in force as of the date the new policy is approved in your state. No additional premium charge will apply. This document is meant to be a high-level explanation of policy changes in the RPG policy and is not part of any policy of insurance. This document is not meant to substitute for a Program Administrator’s or insured’s review and comparison of the new RPG policy to prior policies. The actual wording, terms and conditions of the new RPG policy control each party’s rights and responsibilities.

The Tennessee Insuror

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More Than Just a Convention The Insurors of Tennessee very first convention was held in 1893. To save you from doing the math that is 129 years ago. So, what was going on in 1893 when some intrepid insurance professionals in Tennessee decided to have their first convention. Well, Grover Cleveland was President and he had quite a challenge on his hands with the Panic of 1893. The panic was set off by the collapse of two of the nation’s largest employers, the Philadelphia and Reading Railroad and the National Cordage Company. The U.S. Treasury crisis was so acute that President Cleveland had to borrow, with the aid of Wall Street, to maintain the Treasury’s gold reserves. Specifically, J.P Morgan of New York and the Rothchild banking family of London loaned the U.S. Treasury $65 million in gold to buttress reserves during the panic and subsequent economic

downturn. So, these were tough times in America including here in Tennessee and certainly a challenging time to hold the inaugural convention of a fledgling association. In a very real sense, each of the Insurors of Tennessee Annual Conventions held since 1893 is an affirmation of the vision and determination of those first members who committed to improving and building a strong independent agency insurance system in Tennessee. Each year members gather to perpetuate the work of successive generations at the annual convention to continue improving the insurance business in our state for the next generation of insurance professionals. It is all part of a continuum started 129 years ago.

The 129th Annual Convention – October 15-18, 2022 Now is the time to save the date and make plans to attend the Insurors of Tennessee 2022 Annual Convention. Advanced planning is already underway as the staff and leadership of the association develop an impactful and enjoyable convention for members. We are planning a great slate of guest speakers and opportunities to learn about the latest insurance industry trends. You will have the chance to meet with the insurance companies and vendors that help to power your business with their products and services. There will also be entertainment and organized events to ensure members have time to renew old friendships and make new ones. The 129th Annual Convention will continue the work first started in 1893. Who:

Agency members, trusted carriers and vendors, association staff, spouses and guests What: The Premier Insurance Industry Event in Tennessee When: October 15-18, 2022 Where: JW Marriott – 201 8th Ave S. Nashville, TN 37203 u

Fun Fact The $1,000 bill features two-time United States President Grover Cleveland. He was the nation's 22nd and 24th president, earning him the distinction of being the only president to serve two non-consecutive terms. According to the Bureau of Engraving and Printing, the U.S federal government stopped printing $1,000 bills altogether after 1945. For the most part, it wasn't cost-effective to print new series since each required engraving new plates for small print runs. The Tennessee Insuror

The Tennessee Insuror

Company Briefs Acuity Claims Managers Take on Elevated Roles at Insurance Claims College Lea Kapral, Acuity Central Claims General Manager, has been named Co-Dean of the Claims and Litigation Management (CLM) Claims College School of Transportation. CLM, a member of The Institutes, is a respected organization of industry and legal professionals working to provide opportunities to expand knowledge, meet continuing educational requirements, network, and grow. CLM offers courses in several schools, including Transportation, Professional Lines, Claims Management, and Workers’ Compensation. Graduates earn the Advanced Claims Professional (ACP) designation. Lea has been involved with CLM for over 12 years. She serves as a Co-Chair of the Transportation Committee and has served on the Insurance Coverage Conference and the Claims College School of Transportation Executive Committees before taking on her newest role. In her role as Co-Dean, Lea will help oversee the school’s curriculum, instruction, assessment, and planning. Taking over for Lea on the Executive Committee is Brad Wagner, Acuity Field Claims Manager. In addition to earning his Certified Claims Professional (CCP) and ACP designations, Brad has taught several classes through CLM and presented at the Midwest Claims Conference, he was Co-Chair of the Midwest conference in 2016, and serves on the Transportation Committee.

ERIE Makes $40,000 Donation ERIE made a $40,000 donation to Erie DAWN in support of their homelessness prevention program, "My Home-My Hope." The program provides services that lead to stable housing for those currently seeking, or are in jeopardy of losing, housing. The Tennessee Insuror

Brentwood Services Promotes From Within Tennessee based third-party administrator, Brentwood Services Administrators (BSA), appointed Keith Fawcett as the new CEO earlier this year. Fawcett has been with Brentwood Services, which specializes in workers’ compensation, occupational injury and liability exposures, for much of the company’s twenty-five plus year history. As executive vicepresident, he was responsible for program management, marketing and administration of selfinsured groups, and captive and mutual insurance companies. Fawcett is also the president of Brentwood's reinsurance brokerage Brent Re. He was a winner at Captive International's 2021 US Awards announced last year as the individual winner in the reinsurance brokerage category. John Smitherman has been promoted to Executive Vice President of Brentwood Services Administrators, Inc. John joined Brentwood in 1992 and has been a key figure in the growth of the company as head of sales. Brentwood Services is well positioned for growth in their core territory and is actively working to expand its footprint to several western states. As the company moves forward, John’s role will broaden to take responsibility for managing customer relationships, developing strategic goals, and identifying business opportunities that drive revenues and improve the company’s performance.

Lisa Corless, Named 2022 Joyce Ivy Foundation Leader of the Year Ann Arbor, MI, March 7, 2022 – The Joyce Ivy Foundation announced today that it has named Lisa Corless, President and CEO of AF Group, as its 2022 Leader of the Year. Lisa Corless is president and CEO of AF Group, a national holding company whose affiliated insurance companies are premier providers of innovative, specialty insurance solutions. In her role, she is responsible for oversight of AF Group and its brands as they develop and execute critical 39

Company Briefs continued strategic goals and innovations to ensure success over the longterm. Having spent her 30-year career sharing her passion for the insurance industry, her influence has earned great respect, not to mention a number of significant professional honors, including the Woman of Influence award from the Austin Business Journal for her efforts in both business and philanthropy, and the 2017 Women to Watch award from Business Insurance. “’Corless’ brand of leadership is something that has inspired us at the Joyce Ivy Foundation and know it will inspire the next generation of women leaders too,” said Valerie Brader, a former Leader of the Year who serves on the Joyce Ivy board. “We are excited to show that Midwest women with the kind of talent and drive Corless shows every day can succeed professionally at the highest level. Her leadership now – and theirs in the future – will make a difference in the lives of their employees and their communities.” The Joyce Ivy Foundation provides summer academic scholarships to high-achieving female high school students from the Midwest. Selected Scholars participate in summer programs at Joyce Ivy partner institutions, including some of the nation’s most rigorous colleges and universities. The Foundation also holds virtual and in person college admissions workshops and symposia, which provide critical information to over 500 high school students, families, counselors, community-based organization leaders, and educators throughout the Midwest annually. Each year, the Joyce Ivy Foundation names a Leader of the Year who has achieved notable success and demonstrated impact throughout her career. The Leader of the Year embodies a relentless pursuit of her own educational and professional goals and serves as a powerful example of female empowerment and leadership for the Scholars. The Leader of the Year is celebrated in conjunction with the group of selected Summer Scholars at the Joyce Ivy Foundation’s annual spring Gala. Throughout her career, Ms. Corless has been a tireless advocate for the industry as a mentor and friend, encouraging young women to find their voice while exploring the amazing opportunities available in insurance. Corless holds 40

an executive Master of Business Administration from the University of Texas at Austin – The Red McCombs School of Business. Additionally, she is a member of C200, a global organization focused on promoting the advancement of women in business. She serves on the Board of Directors for the National Council on Compensation Insurance, the American Property Casualty Insurance Association and the Lansing Economic Area Partnership (LEAP). Recent past recipients of the Joyce Ivy Foundation Leader of the Year Award include: Rosalind Brewer, CEO of Walgreens (2021); Chief Justice Bridget Mary McCormack, Michigan Supreme Court (2020); Faye Nelson, Michigan Director of the WK Kellogg Foundation (2019); Susan L. Blount, Executive Vice President and General Counsel of Prudential (retired) (2016); Lucy Clark Dougherty, Vice President and General Counsel of General Motors North America (2013); Deanna Mulligan, CEO of Guardian Life Insurance Company of America (2012).

Blue Ribbon Agent Award Congratulations Lisa Wisniewski, Farm Underwriter at Arlington/ Roe, for being chosen as American Reliable Insurance Company's 2021 Q4 Blue Ribbon Agent Award recipient. Lisa's knowledge and attention to detail does not go unnoticed. Lisa joined Arlington/Roe in 2019 as a Farm Underwriter. She helps agents with a variety of farm and equine exposures and has focused on finding farm and ranch solutions since 2012. Lisa holds an Agribusiness and Farm Insurance Specialist (AFIS) designation and a property and casualty (P&C) license.

Builder's Mutual Add to Their Team Builders Mutual Insurance Company welcomed new employees Tammy Norman and Lidsay Beavers. Tammy joins the In-house Audit team and Lindsay will work in Marketing.

Arlington/Roe Names Andy Roe Executive Vice President & Chief Operating Officer Andy Roe has been promoted to Executive Vice President and Chief Operating Officer at Indiana-based Arlington/Roe according to James A. Roe, president and CEO of the company, a managing general agency and wholesale insurance broker. The Tennessee Insuror

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Company Briefs continued 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, holding various roles from underwriting to departmental leadership. He holds property and casualty licenses in several states, including surplus lines licenses, as well as several insurance designations. In 2022, he was promoted to Executive Vice President and Chief Operating Officer. His new 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. Andy is a graduate of Ball State University and has been involved in a variety of organizations over the course of his career. Early in his insurance career, Andy interned for an excess & surplus lines company in Arizona and in London with Lloyds. He was a very active member of the WSIA's UFO (Under Forty Organization) serving on the board of directors. Additionally, he was the past chairman of the Independent Insurance Agents of Indiana’s Young Agents Committee.

Acuity Named a Top Company in the Nation for Claims Service March 9, 2022- Acuity is named one of the best insurers in the country for claims service in the 2022 CRASH Network Insurer Report Card. In addition to being in the top 5 insurers nationwide, Acuity is ranked #1 in both Wisconsin and Minnesota. CRASH Network surveyed over 1,100 collision repair shops across the country for its 2022 Insurer Report Card. Shops were asked to grade the claims service of insurance companies based on one question: How well does this company’s claims handling policies, attitude, and payment practices ensure quality repairs and customer service for motorists? “Acuity consistently delivers great customer service and truly cares about its customers and the quality of repairs. They always use quality parts and always pay claims in full in a timely The Tennessee Insuror

manner,” stated the manager of a Wisconsin repair shop. According to CRASH Network, shops say the best insurance companies don’t pressure them to cut corners or install lower-quality parts to save money and aren’t adding more administrative steps to slow down the repair and claims process. The report card also revealed that many insurers earning the highest grades from repair shops are regional insurance companies that “do not spend billions of dollars per year on advertising.” In fact, none of the 10 largest auto insurers in the country earned a better than average score.

Stacey Rebbert Named One of Maryland’s Top 100 Women by The Daily Record Bel Air, Md. – Harford Mutual Insurance Group is proud to announce The Daily Record has named Stacey A. Rebbert, Assistant Vice President of Marketing and Corporate Communications, to its 2022 listing of Maryland’s Top 100 Women. "The 2022 Maryland's Top 100 Women demonstrate the incredible progress women have made in leadership roles in Maryland. They inspire change and help to ensure that women have access to every opportunity," said Suzanne FischerHuettner, senior group publisher of The Daily Record. "Their professional achievements, community impact and commitment to mentoring are outstanding. We at The Daily Record are honored to recognize their accomplishments." As Assistant Vice President of Marketing and Corporate Communications, Rebbert has developed the strategies behind the company’s brand management, created the company’s crisis communication plan, and leads her team in the execution of all digital marketing, advertising, employee engagement, public relations, community relations, and corporate communications. Rebbert holds a bachelor’s degree in mass communications from Towson University and a master’s degree in contemporary communications from Notre Dame of Maryland University. Currently, she serves as a corporate mentor for Towson University’s Outstanding Young Women Leaders Program, which provides leadership skills and experience to female high school juniors/seniors in Baltimore County. Rebbert also serves as an annual mentor for the Towson University Northeast campus graduating seniors’ program. 43

Company Briefs continued Rebbert was recently reappointed to the Commission for Women in Harford County. She also currently serves as a CoChair of the National Association of Mutual Insurance Companies (NAMIC) Strategic Communications Council, Chair of the Harford Mutual Charitable Giving Committee, and Advisor of the Harford Mutual Innovation Committee and Inclusion, Diversity, and Opportunity Committee. In 2022, Rebbert was named an ATHENA Leadership Award finalist. Rebbert, along with 99 other influential Maryland women, will be honored at a reception and awards celebration May 9 at the University of Maryland Riggs Alumni Center.

Marcus Moloney Joins Harford Mutual Insurance Group as Vice President and Chief Information Officer

Bel Air, Md. – Harford Mutual Insurance Group is pleased to announce Marcus Moloney has joined the leadership team as Vice President and Chief Information Officer.

Moloney will oversee the Information Technology department as Harford Mutual embraces a new hybrid environment, moves away from legacy systems, and continues its vision to be the regional insurance carrier of choice. A seasoned information technology (IT) leader, Moloney brings nearly 30 years of experience in driving efficiencies and growth through technology and business innovations. Most recently, he served as Head of Information Technology for United Air Temp, where he led a digital transformation and redesign of platforms to deliver a better user experience and improve processes. Previously, Moloney served as CIO for TechExec Strategy and as the Global Chief Information Officer at LISR, LLC-YCF, where he implemented new enterprise risk management (ERM) and customer relations management (CRM) systems, as well as new growth-centric IT practices for 28 worldwide offices and more than 350 employees. Moloney was also the Head of Information Technology at Navy Mutual Aid Association, where he led initiatives to secure network access for over 125,000 association members. Moloney is originally from Limerick, Ireland, earning a degree in Information Technology from Mid-West Business Institute. u

Celebrating 75 Years Of Providing Competitive, Affordable Insurance. National Security has provided competitive, affordable insurance to policyholders for 75 years. We also provide our agents with competitive commissions, excellent customer service and experienced company adjusters. As a Southeastern based regional company, National Security prides itself on fast, efficient service from a friendly small town company. Our agent website provides fast quotes, online policy issuance, and real-time policy information. Find out more about our products by calling 1-800239-2358 or visiting nationalsecuritygroup.com.

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Dwelling Fire • Limited Homeowners • Comprehensive Mobile Homeowners • Vacant Property • Life & Health 44

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Endorsed Partner of

Agents Serving Our Community Golf Outing Supports Kids' Chance

Insuring Success Award Grant

Insurors of Tennessee Young Agents were proud to participate in the Kids Chance of Tennessee 3rd Annual Charity Golf Classic to raise money for education scholarships.

Swallows Insurance Agency, with locations in Cookeville, Livingston and Smithville, is a proud sponsor of the Insuring Success Award Grant. The award is specifically designed to support teachers and schools in the work they do to educate young people in Cookeville and surrounding communities. At Swallows Insurance, we understand that a good education foundation is essential to creating the conditions for young people to grow into successful adults.

Kids’ Chance of Tennessee works with the statewide community to provide higher education opportunities to the children of Tennessee workers, who have been killed or had a catastrophic injury in a work related accident. Through Kids' Chance, qualifying young people may apply for financial need scholarships to pursue higher education at a university, college or vocational school. Insurors of Tennessee, through it's Young Agent committee, has chosen to support Kids' Chance of Tennessee by participating in events and fundraisers across the state. We encourage anyone interested to contact the Young Agent representative in your area. Together we will get involved, network and build relationships, have fun, do good in our community!

The Insuring Success Award Grant gives local teachers the chance to win a grant valued at $300-$500 each month to support an idea that will help ensure students learn more. Perhaps it is a project for a classroom such as creating a special learning center or buying globes to help students expand their horizons. It could be about providing a unique learning experience for your students such as a garden or supplies for the music room. It could also fund a field trip to learn more about the history of their community. The program is also happy to help students with special needs or challenges in the classroom. The Insuring Success Award Grant is open to all teachers in the Upper Cumberland region and all classes including arts, drama, career, music and others at all grade levels. Every submission from teachers is graded and evaluated. Each month Swallows Insurance selects the winner and issues a check to a worthy candidate.

Left to right: Jake Smith, Insurors of Tennessee; Matt Felgendreher, W.C. Dillon Co.; Jonathan Peters, South Point Risk

Swallows Insurance is another great example of an independent insurance agency doing good work in service to their community. u

While we know insurance professionals provide essential insurance products and services to their clients and are always there for their customers and communities when disasters strike, there is more to the story. Many members of our industry serve their communities in a myriad of other ways beyond the that of a business relationship. These are the stories we want to hear from you and share with other members. We hope to support and inspire each other.

Share your stories at marketing@insurors.org or 615.385.1898 46

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Insurors of Tennessee Staff Directory The Insurors of Tennessee is fully staffed to serve your needs as members and associate members. To introduce and orient you to the staff, we are providing you with this quick reference directory to introduce you to the staff. Please contact them anytime you needs assistance or have a question.

Stephen Holmes, CPCU, CIC, CISR sholmes@insurors.org 615.515.2609

Marketing Assistant

Trey Moore

tmoore@insurors.org

Government Affairs Consultant

Insurance & Education Support Specialist

Aliyah Turner

aturner@insurors.org 615.515.2608

Teresa Durham, CPCU, AIC, AU, CIC tdurham@insurors.org 615.515.2607

Jake Smith jsmith@insurors.org 615.515.2604

Insurance & Education Specialist

Accounting Specialist

Colleen Vance cvance@insurors.org 615.515.2603

Director of Operations

Director of For-Profit

Executive Director

Ron Travis rtravis@insurors.org 615.515.2606

Kyra Garrison kgarrison@insurors.org 615.515.2605

Not Pictured

E&O/Education Consultant Don Cunningham, Jr. CIC, CPCU

dcunningham@insurors.org 615.515.2602

Administrative Assistant Kimberly Clune

kclune@insurors.org 615.515.2600

Office: 800.264.1898 | 615.385.1898 | info@insurors.org | www.insurors.org The Tennessee Insuror

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

CISR 5/10 5/11 9/27 9/28 9/29 12/6 12/7

CIC

Fee: $186

CE: 7

CISR Commercial Casualty I CISR Commercial Casualty I CISR Personal Lines Misc. CISR Personal Lines Misc. CISR Personal Lines Misc. CISR Commercial Property CISR Commercial Property Fee: $430

Nashville Memphis Johnson City Knoxville Chattanooga Nashville Memphis

CE: 16

8/10-11 CIC Commercial Casualty I 9/14-1 CIC Commercial Multiline 11/9-10 CIC Company Operations

Knoxville Nashville Nashville

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) Legal & Ethical Requirements of Insurance Insuring Flood Exposures - NFIP Review

CE: 4 $82 CE: 4 $82

From The Institutes (ceu.com/customer/insurors-tn ) Agency Errors & Omissions CE: 3 $24 Basic Ethics for Insurance Professionals CE: 5 $24 Directors and Officers Liability CE: 4 $24 Insurance Principles and Policies CE: 7 $29 Long Term Care CE: 4 $24 Workers’ Compensation & Employers Liability CE: 11 $40 Small Business Employee Benefit Plans CE: 4 $24 Insurance Fraud Basics CE: 2 $24 Fundamentals of Personal Auto Insurance CE: 3 $24 Terrorism and Its Impact on Insurance CE: 2 $24 Toxic Mold and Homeowners Insurance CE: 3 $24 Understanding the Industry of Insurance CE: 5 $24 48

ABEN Webcasts (insurors.aben.tv) Active Shooter/Workplace Violence Ins. 5/11 5/24 6/15 6/30 Contracts Agents Should Read 5/11 5/24 6/15 6/30 Flood Program Overview - NFIP Then/Now 5/11 5/24 6/15 6/30 E&O - Roadmap to Pers. Auto & Umbrella Ins. - #1 5/4 5/9 6/1 6/13 E&O - Roadmap to Pers. Auto & Umbrella Ins. - #2 5/4 5/9 6/1 6/13 E&O - Commercial Property Coverage Gaps - #1 5/5 5/20 6/2 6/17 E&O - Commercial Property Coverage Gaps - #2 5/5 5/20 6/2 6/17 E&O - Roadmap to Homeowners Ins. - #1 5/6 5/16 6/3 6/20 E&O - Roadmap to Homeowners Ins. - #2 5/6 5/16 6/3 6/20 E&O - Homeowners Endors. & Personal IM - #1 5/2 5/19 6/6 6/16 E&O - Homeowners Endors. & Personal IM - #2 5/2 5/16 6/6 6/16 Directors and Officers Liability Insurance 5/5 5/21 6/6 6/21 Premium Auditing–What Every Agent Must Know 5/11 5/27 6/8 6/24 Law of Ins. Contracts & ‘Rules’ of Policy Interpret. 5/11 5/27 6/8 6/24 Torts, Negligence and Legal Liability 5/11 5/27 6/8 6/24 Commercial Prop. Underwriting & Rating: COPE 5/11 5/27 6/8 6/24 Risk Mgmt. & Ins.: Why Agents Are NOT Risk Mgrs. 5/11 5/27 6/8 6/24 Understanding the Ins. Industry: From Regs to Ops. 5/11 5/27 6/8 6/24 Basics of Prop. Values & Coinsurance Conditions 5/11 5/27 6/8 6/24 Contractual Risk Transfer, Addl. Insureds & Certs. 5/11 5/27 6/8 6/24 Insurance Accounting for Dummies and Geniuses 5/12 5/25 6/9 6/22 Cyber Security and Insurance Risk Management 5/12 6/9 E&O - Roadmap to Policy Analysis - #1 5/13 5/25 6/10 6/22 E&O - Roadmap to Policy Analysis - #2 5/13 5/25 6/10 6/22 Business Auto Claims That Cause Problems 5/4 5/23 6/13 6/24

CE: 2 $48 CE :2 $48 CE: 3 $72 CE: 3 $72 CE: 3 $72 CE: 3 $72 CE: 3 $72 CE: 3 $72 CE: 3 $72 CE: 3 $72 CE: 3 $72 CE: 3 $72 CE: 2 $48 CE: 3 $72 CE: 3 $72 CE: 3 $72 CE: 3 $72 CE: 3 $72 CE: 3 $72 CE: 4 $96 CE: 3 $72 CE: 2 $48 CE: 3 $72 CE: 3 $72 CE: 2 $48

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Big I E&O Program Conference November 13-15, 2022 Kansas City, MO

Insurors WINS Event April 5, 2022 Memphis

Insurors Agency Growth Conference July 9–10, 2022 Nashville

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Southern Agents Conference December 2–4, 2022 Atlanta, GA

Insurors 129th Annual Convention October 15-18, 2022 Nashville

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Your Big "I" Inflation Outpacing Auto and Homeowners Premiums, Says APCIA Report BY Will Jones, IA Editor-in-Chief

U.S. insurers are failing to raise premiums fast enough to keep up with historic rates of inflation, according to the American Property Casualty Insurance Association (APCIA)reports summarizing recent insurance inflation trends. Rapid increases in inflation over the last year have spiked auto and homeowners insurance losses and combined ratios, the report said. Simultaneously, insurance claims inflation has been rising even faster than the underlying consumer price index, far outpacing increases in premiums. The report found that incurred losses and loss adjustment expenses increased by 17.8% in the third quarter of last year compared to the third quarter of 2020 while direct written premium increased 3.1% for auto and 8.4% for homeowners. Labor shortages and the escalating costs of construction materials, vehicle repair and rental cars are all contributing to higher insurance rates for consumers and could lead to longer wait times during the claims process. In the auto insurance market, inflationary pressure is increasing the cost of repairs, car rentals and vehicle replacements. This is illustrated in the 20% increase in private passenger automobile bodily injury severity since 2019, as well as the fact that private passenger automobile loss ratios spiked from 55.6% year-end 2020 to 72.2% in the first three quarters of 2021, reaching the highest level compared to year-end loss ratios since 2010. “Since the start of the pandemic, Americans have embraced riskier driving behavior, such as impaired driving, speeding, and failure to wear seatbelts," said Robert Passmore, vice president, auto and claims policy for APCIA. “This concerning trend is leading to more crashes at a time when the cost

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of medical care and vehicle repairs are escalating," he added. “The safety of motorists and pedestrians is the primary concern for insurers. But drivers should be aware of these cost trends as well." In the homeowners insurance market, U.S. home and commercial property lines are each expected to exceed 109% combined ratio in 2021. Rising construction costs, demand for new homes and CAT losses are driving this increase. 2021 was the seventh year in a row that the U.S. suffered at least 10 natural catastrophe events, each causing over a billion dollars in losses, according to the National Oceanic and Atmospheric Administration. From 2020-2021, U.S. insurers paid out more than $176 billion in losses, the highest ever two-year total, according to Aon, which notes that U.S. incurred natural disaster losses in 2021 were more than double the 20-year average. “Record catastrophe losses from 2020-2021 occurred amid a boom in home construction, intensifying demand for construction materials and labor," said Karen Collins, assistant vice president for APCIA. “From December 2019 through December 2021 the price of construction materials rose by 44.1%, with some lumber prices in mid-2021 up 400%." “Insurers are strongly encouraging property owners to harden their homes and businesses to reduce potential loss and damage," Collins added. “In addition, during the current cycle of extreme inflation, policyholders are encouraged to make sure they have enough insurance and are financially prepared should disaster strike." u

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ACUITY 920 . 458 . 9131 www.acuity.com 36 Arlington/Roe 800 . 878 . 9891 www.arlingtonroe.com 22 Bailey Special Risks, Inc. 800 . 768 . 7475 www.bsrins.com 50 BBSI 760 . 445 . 5909 www.bbsi.com 34 Berkley Southeast Insurance Group 615 . 932 . 5508 www.berkleysig.com 27 Berkshire Hathaway Guard Insurance Cos. 800 . 673 . 2465 x4567 www.guard.com/apply 15 BlueCross BlueShield of Tennessee 800 . 565 . 9140 www.bcbst.com 12 Builders Mutual 800 . 809 . 4859 www.buildersmutual.com 49 Harford Mutual 800 . 638 . 3669 www.harfordmutual.com 51 Imperial PFS 443 . 613 . 4820 www.ipfs.com 32 INSBANK 866 . 866 . 4268 www.insbanktn.com 6 J.M. Wilson 800 . 595 . 0063 www.jmwilson.com 31 Keystone Insurers Group 800 . 416 . 5498 www.keystoneinsgrp.com 55 Liberty Mutual/Safeco 800 . 837 . 5254 libertymutual.com | safeco.com 14 Lipscomb & Pitts | A Higginbotham Partner 901 . 335 . 0951 www.lpinsurance.com 38 LUBA Workers' Comp 888 . 884 . 5822 www.lubawc.com 42 MidSouth Mutual Insurance Company 844 . 438 . 6642 www.midsouthmutual.com 56 Mountain Empire Agency Alliance 423 . 560 . 6077 www.meaa4u.com/insurors 2 National Security Group 800 . 239 . 2358 x213 www.nationalsecuritygroup.com 44 Nationwide Insurance 423 . 927 . 2060 www.nationwide.com 16 Penn National Insurance 800 . 395 . 0518 www.pennnationalinsurance.com 20 RLI PUP 615 . 515 . 2609 www.insurors.org 9 SecureRisk 770 . 723 . 8096 www.securerisk.com 19 Selective Insurance 877 . 744 . 3125 www.selective.com 52 Stonetrust Insurance 800 . 311 . 0997 www.stonetrustinsurance.com 7 Southern Trace Underwriters, Inc. 615 . 263 . 1725 www.stunderwriters2.com 11 Summit Holdings 800 . 971 . 2667 www.summitholdings.com 41 Swiss Re Lawyer's Professional Liability 630 . 213 . 9952 www.swissre.com 10 Titan Digital 615 . 890 . 3600 www.titanwms.com 45 West Bend Mutual Insurance Co. 800 . 236 . 5010 www.thesilverlining.com 24

2022 CONTINUING EDUCATION REGISTER NOW AT INSURORS.ORG 54

The Tennessee Insuror

Strengthen your independence.

Keystone’s partners maintain their independence while benefiting from added resources on a national scale. We work shoulder-to-shoulder with partner agencies to strengthen their agency and offer resources and solutions to support their specific goals.

Agency Solutions

Business Solutions

Personal Solutions

Agency Management Partner Support Services Organic Growth Claims Management Carrier Relations Profit & Growth

Property & Casualty

Bonds

Insurance Placement Services

Insurance Placement Services Programs

Financial Services

Employee Benefits Group Health Ancillary Benefits

Financial Services Risk Management

That’s how independence works better together!

FOR MORE INFORMATION: Michele Bicknell 570.473.2148 | mbicknell@keystoneinsgrp.com keystoneinsgrp.com

Workers’ Compensation InsuranCe For tHose WHo Build our Communities

MidSouth Mutual 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.

ConstruCtion trades Building ContraCtors non-emergenCy mediCal transport

Home HealtHCare more DOING BUSINESS IN: AL, AR, FL, GA, IL, IN, KY, MS, MO, NE, NC, OK, SC, TN, TX, VA

LEARN MORE AT WWW.MIDSOUTHMUTUAL.COM

Tennessee Insuror Magazine - March/April 2022

Articles inside

Your Big "I"

Education Calendar

Agents Serving Our Community

From Your President

More Than Just a Convention

Association Update