THE TENNESSEE
INSUROR May/June 2019 Volume 30 | Number 3
Are You the Big Fish? Our Annual Convention Returns to Chattanooga with Shark Tank Author Michael Parrish DuDell and Other Speakers and Sessions to Help Grow Your Agency
8 12 46
What Does an Agent Owe to a Certificate Holder? 10 Tips for New Insurance Agents
Work Comp: 3 Ways to Add Value
Expect big things in workers’ compensation. Most classes approved, nationwide. It pays to get a quote from Applied.® For information call (877) 234-4450 or visit auw.com/us. Follow us at bigdoghq.com. ©2019 Applied Underwriters, Inc., a Berkshire Hathaway company. Rated A+ (Superior) by A.M. Best.
2Insurance plans protected U.S. Patent No. 7,908,157.
The Tennessee Insuror
contents
THE TENNESSEE
INSUROR Vol. XXX, Number 3 May/June 2019
features
Phone (615) 385-1898 Toll Free: 1-800-264-1898 Email: info@insurors.org Editor: Ashley Gold, J.D. Publisher: Daniel D. Smith Jr., CAE
4 Are You the Big Fish? INSURORS OFFICERS
President ........................................................................... Joe Hunt Immediate Past President ............................... Chris Allison, CIC IIABA National Director ......................................... Lou Moran III VP, Region III and President Elect ........................ Bob McIntire Vice President, Region I ................................... Norfleet Anthony Vice President, Region III .................................... Chip Fridrich Jr. Treasurer ..................................................................... Tim Roberts Secretary ................................................................. Chip Hoover Director, Region I .................................................. Tommy Allmon Director, Region I .................................. S. Keith Phelps, CIC, CRM Director, Region I ......................................... Richard Whitley, CIC Director, Region II ............................... Christy Jones, CISR, CAPI Director, Region II ............................................ John McCord, CIC Director, Region II ..................................................... Taylor Porch Director, Region III ............................................................ Tim Witt Director, Region III ................................................. Mark Slater Jr. Director, Region III ...................................... Brandon Clarke, CIC Young Agents Chair ........................................................ Cy Young
ADVERTISING
Our Annual Convention Returns to Chattanooga...
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What Does an Agent Owe to a Cetificate Holder?
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Giving Back to the Community
12 10 Tips for New Insurance Agents 14 Daniel Talks Agency Marketing: Reaching Your Target... 46
Tips for When "The Paper is The Paper"
departments
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 615.515.2601, e-mailing dsmith@insurors.org or online at www.insurors.org
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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
Work Comp: 3 Ways to Add Value
From Your President
The Politics of Politics
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From Your IIABA National Director
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From Your CEO
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Education Calendar
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Layman's Terms
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Company Spotlight
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Broker Spotlight
My Goal is to Serve
Can We WIN Together?
Insurors Updates From Nashville and D.C.: Wrapping Up Session in Time... MetLife Auto & Home Bailey Special Risks
51 Meetings 53
Member Tips
Are Your Employees Your Biggest Cyber Exposure?
3
Are You the Big Fish? Our Annual Convention Returns to Chattanooga with Shark Tank Author Michael Parrish DuDell and Other Speakers and Sessions to Help Grow Your Agency
For the first time in 25 years, Insurors will return its host location for the convention to Chattanooga. Our 126th Annual Convention will take place October 19-22 at the new Westin downtown, located in the completely renovated "gold building" that formerly housed BlueCross BlueShield. We are excited to return to the city as many changes have taken place and a vibrant downtown community has been developed. Keeping in mind the great new features of the city, we have planned several activites that will showcase the downtown area. Please read on and see some of the functions we have planned for attendees:
Keynote Speaker Michael Parrish DuDell This year's event will feature a meet and greet as well as an "Agents Only" General Session with business, entrepreneurship and finance expert, Michael Parrish DuDell. He will sign copies of his book and talk with registered attendees at our opening night celebration on Sunday, October 20 at the Tennessee Aquarium. Parrish DuDell is an entrepreneur, keynote speaker, and the bestselling author of Shark Tank Jump Start Your Business and Shark Tank Secrets to Success – the official business books from ABC’s hit show Shark Tank. Recently ranked as one of the top three most popular business authors by Amazon.com and named “one of nation’s leading Millennial voices” by IBM, Michael is a recognized industry expert and commentator who’s regularly featured across numerous media outlets, including 4
CNN, CNBC, Fox News, Fox Business News, Bloomberg TV and many more. An award-winning, international keynote speaker, Michael delivers interactive speeches and workshops designed to help businesses and leaders build futurefocused organizations and connect with a new generation. He has spoken for and collaborated with some of the world’s most influential brands, including Kraft, Visa, L’Oreal, Toyota and American Express. Michael is a contributor to several publications and authors a quarterly small business column for Costco Connection, which has a mailed monthly circulation of 8.6 million. Previously, Michael served as editor of GE’s ecomagination. com and the host of GE’s original video series Green Room Live. Prior to that, he was the managing editor of The Domino Project – a publishing company founded by marketing luminary Seth Godin and powered by Amazon.com – as well as the host of The Next Crop – a syndicated web series sponsored by Citrix in partnership with Forbes Media. Michael is a One Young World Ambassador, a member of the Young Entrepreneur Council, and an advisor to numerous companies. Outside of the office, he works closely with an array of social organizations. You may learn more about his work at www.MPDHQ.com.
Young Agents Session with The Insurance Guys The Insurance Guys is a podcast made and dedicated to The Tennessee Insuror
agents by agents. Scott Howell, CLCS and Bradley Flowers discuss all aspects of becoming an insurance agent and give real life examples of their experiences in all aspects of hiring, sales and the day-to-day reality of running your own successful insurance agency.
• • • •
Golf outing at Signal Mountain Country Club Clay Shoot outing at Dead Zero Shooting Park A new all-attendee reception A special outdoor party with cornhole, giant Jenga and other games
All that and more will be on the schedule, and more details will be released in the coming weeks. And if that wasn't enough, you'll also have the opportunity to network with over 400 industry professionals including more than 150 agents and 70 exhibitors.
The Insurance Guys will speak at our Young Agents and Partners sessions
Scott is the owner of iPROTECT Insurance and Financial Services, with locations in Athens, Madison and Huntsville, Alabama. His agency specializes in business insurance and financial services. Scott has developed the agency from a small Nationwide office into what he now calls a "digital insurance center." He is a U.S. Marine Corps veteran. Bradley is the founder of Portal Insurance in Saraland, Alabama and the surrounding communities; he is an expert and student of the insurance game, co-founder of the Mobile Young Entrepreneurs group, and a thought leader in marketing and social media. Bradley is the #1 Insurance personality on Snapchat per Wall Street Journal. He is driven to provide outstanding customer service as well as insurance products that fit his client's needs and budget. Bradley's hobby is business, and he loves saying "YES" to his customers.
Highlights of This Year's Event In addition to our guest speakers, this year's convention will feature: •
A Yacht & Boat insurance seminar featuring a tour of a 70' motoryacht
Tour a 70' motoryacht and gain insight at the Yacht & Boat Seminar
The Tennessee Insuror
The state-of-the-art Dead Zero facility will host our clay shoot
Schedule of Events Although still tentative, the current details of our schedule are below: Saturday, October 19th (all times EST) 2:00 - 5:00 pm Local Tours TBD 5:00 - 8:00 pm Football Viewing Party Sunday, October 20th 9:00 - 11:00 am Board of Directors Meeting 11:00 am - noon Past Presidents’ & Board Luncheon 11:30 am - 12:30 Partner Program Luncheon w/The Insur- ance Guys 11:00 am - 6 pm Registration Open 1:00 - 6:00 pm Exhibit Hall and Trade Show 3:00 - 4:00 pm Trade Show Breakout Session TBA 4:00 - 6:00 pm “Meet the Vendors” Exhibit Hall Reception 6:00 - 8:30 pm Opening Night Celebration & Dinner at Aquarium 8:30 - 10:00 pm Young Agents After Party at Citron et Sel Monday, October 21st 8:00 - 10:00 am Registration Open 8:00 - 10:00 am Exhibit Hall and Trade Show 8:00 - 10:00 am Exhibit Hall Breakfast 9:00-10:00 am Young Agents breakout w/The Insurance Guys 10:00 - 11:30 am Agent General Session: Shark Tank author/ speaker Michael Parrish DuDell Noon - 5:30 pm Annual Conv. Golf Tourney at Signal Mtn CC 12:00 - 3:00 pm Yacht & Boat Seminar at Scottie’s on the River 5
12:30 - 4:00 pm Clay Shooting at Dead Zero Shooting Park 6:00 - 7:00 pm All-Attendee Reception 7:00 - 10:00 pm Company Night Tuesday, October 22nd 8:00 - 9:00 am Association Day Breakfast 9:00 - 11:00 am Insurors Annual Meeting
We've rented out the Tennessee Aquarium for our guests
The beautiful new Westin hotel will host our event
All This and More We've got some other special guests and events being planned now, so keep an eye out for further updates throughout the Summer. Additional sessions, speakers and activities will be announced soon. It's going to be one of our best events yet. Register online or get more event information now by visiting the convention section of our website at https://www.insurors.org/IOT/Convention/IOT/Convention/ConventionHome. aspx We will also have a special room rate of $189 at the Westin, and you may make your reservations now by visiting https:// www.insurors.org/IOT/Convention/Convention_Hotel.aspx or calling 423.531.4653 and requesting the IOT group room rate. For questions or any additional information, please contact Daniel Smith at dsmith@insurors.org or 615.515.2601. u 6
In Tennessee, it’s AmTrust for Workers’ Comp… and much more. FSC “XV,” Stable Outlook
Get to Know AmTrust.
Visit www.amtrustfinancial.com/tnq1 or call 844.608.1613
AmTrust is AmTrust Financial Services, Inc., located at 59 Maiden Lane, New York, NY 10038. Coverages are provided by its property and casualty insurance company affiliates. Consult the applicable policy for specific terms, conditions, limits and exclusions to coverage.
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You’re in the business of protecting others. So, who’s watching out for you? We are. At Arlington/Roe, we put the needs of our customers first. What does that look like? Well, it looks like experience you can trust, integrity you can count on, promises we stand behind and an independent and family-owned industry partner who understands your specific needs. Located in nine states and licensed in all 50, we’ve got your back. Get to know the people of Arlington/Roe. We’ve been doing the right thing since 1964.
Let us help you find the right solutions. Managing General Agents | Wholesale Insurance Brokers
800.878.9891 | ArlingtonRoe.com
Aviation | Bonds | Brokerage | Commercial Lines | Healthcare & Human Services | Farm Personal Lines | Professional Liability | Transportation | Workers’ Compensation The Tennessee Insuror
7
What Does an Agent Owe to a Certificate Holder?
written by Chris Boggs, VU Exec. Director
Six “truths" surround the issuance of certificates of insurance (COI): • • • • • •
Be truthful. The less detail, the better; but, don't be too vague. Never commit to anything that can't absolutely be proven with policy language. Never generalize coverage. Attach a copy of the additional insured (AI) endorsement. Attach a listing of all commercial general liability forms and endorsements and let the holder and/or AI ask for what they want to review.
As flippant as these truths may sound, they really aren't. Basically, no agent can generalize a 100-page policy in a few lines, something will be missed. Further, agents can't attest to anything he/she doesn't know for sure (which is why phrases such as, “As per contract" should never be used). Certificate holders are adults with the opportunity and ability to ask any questions and seek clarification on any point they desire. If they don't ask questions, that's not the agent's problem – provided the agent is truthful in the issuance of the COI.
Applying the truth that a COI is nothing but proof coverage is in place, agents should never positively or negatively attest to any provisions in the policy. In ACORD's words, the purpose of the COI is to provide information and the only information a COI can and should “certify" is that a policy exists. An agent gets in trouble, and rightfully should get in trouble, when: • • •
• •
The description of operations is used to state that certain coverages are in place or that certain exclusions don't exist (“No residential construction exclusions"). The agent attests to provisions or endorsements that don't exist (CG 20 10 11 85). The agent puts something stupid (a technical term) in the description of operations such as, “Coverage is provided as per contract," or “Notwithstanding any policy provision to the contrary…," or any phrase that begins with “Regardless," and so on. The agent makes an attempt to generalize the policy. The agent completes an addendum request for information. continued on page 30...
Contracts signed by the insured (lower tier) in no way involve the agent or require the agent to do anything for the upper tier. The contract is between the lower tier and upper tier contractors. The agent's job is to make every effort to obtain proper coverages (but the agent cannot always place what the upper tier wants) and advise the insured of the coverages they have and don't have (this should always be in writing). When the agent is honest with the client and the holder, neither party can be victimized by detrimental reliance. If the contract requires specific coverages or clauses that cannot be provide (for whatever reason), the agent must notify its insured (no question about that). And, the COI cannot state that such coverage exists (or even intimate such existence of coverage) if these coverages or conditions cannot be obtained. Back to the honesty requirement. The safest wording is, “Coverage is provided as per forms and endorsements listed on the attached declarations page." There is no standard against which information contained in the COI is to be judged, unless the agent creates a detrimental reliance by adding unsupported wording to the COI. In its most base (and intended) form, a COI gives the holder no specifics about coverage because it's not intended for any purpose other than to confirm a policy exists. 8
The Tennessee Insuror
We know what it took to build this unique business.
And we know what it takes to protect it. Underwriters who know and understand what coverages are necessary for each unique business. Loss prevention professionals who use a hands-on approach to help develop programs tailored to each specialty business. Claim reps with the expertise and technology to process claims quickly and efficiently. As an Official Supplier of the Silver LiningÂŽ, you and West Bend will find a specialized insurance plan for your valued customers. To find out more, talk to your West Bend underwriter.
Celebrating 125 years of valued relationships with our agent partners. The Tennessee Insuror
9
Giving Back to the Community Volunteerism Can Help Your Company and Community As we look at the continued growth of Tennessee, it is imperative that the culture remains consistent. Nashville is a great example of a city that has a unique small-town feel – although it’s a large city it is truly a community having the feeling of fellowship with others. A large contributing factor to this feel is the fact that Nashville invests in giving back and supporting local businesses. Whether it’s by companies sponsoring events, monetary donations, or engaging in community programs – each contribution counts. In addition to the impact that community involvement has on Tennessee, local companies and organizations attract likeminded employees that appreciate this culture. Companies with this approach provide employees with a way to interact with each other outside of the workplace bringing employees together in a different light, where they get to know one another better. In addition to creating camaraderie, a company may also see some of the benefits listed below. • • • • •
written by our partners at INSBANK
of needs in the local community, and maintain a desire to contribute when it’s needed and where it’s needed. INSBANK feels passionately about giving back to the community and recently launched a giving initiative in partnership with the Community Foundation of Middle Tennessee. In hopes of expanding the bank’s existing corporate giving and volunteerism, INSBANK established The INSBANK Philanthropic Fund. This fund will facilitate giving back through all the banks stakeholders, including its customers, who can participate through The Philanthropy Account. INSBANK continues to seek innovation in all its endeavors. In this spirit, it continues to strive to find ways to elevate its giving posture and expand its reach in the community. “Genuinely help people and the benefits will come. ”- Ben Martinez, HireVue. u
Establishing a strong, well-rounded culture. Building brand recognition and identity. Cultivating a happier workforce and morale booster. Creating a collaborative and inspired team of employees. Attracting a more loyal and engaged customer base. According to a study performed by Cone Communications and Echo Research, roughly 82% of U.S. consumers actually consider corporate social responsibility when deciding what services and products to buy and from where.
All businesses find value in community involvement regardless of the industry. Companies contribute to various initiatives through allocation of time, organization of group efforts, and monetary contributions. Within these companies and organizations, employees, management, and directors devote time and resources to support what inspires them, both personally and professionally. As a component of many companies’ internal programs, they organize and facilitate regular volunteer activities for their employees. Some companies have even introduced Wellness programs with the belief that wellness includes more than just fitness, but includes body, mind and spirit and encourages volunteerism as a way to enhance wellness.
An Important Partnership Employees’ participation in charitable organizations, whether as board members, committee members or volunteers, is supplemented by the company’s financial support of a wide variety of non-profit organizations. It is important that businesses, and business owners, believe in supporting a variety 10
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DREAMS not dollars. PEOPLE not line items.
FRIENDSHIPS not relationships.
THAT’S
WHAT WE’RE AIMING FOR.
Because we’re a different kind of local bank. One that’s been proudly helping Tennessee businesses –people we consider friends – for more than 16 years.
5614 Franklin Pike Circle, Brentwood, TN 37027 I 2106 Crestmoor Road, Nashville, TN 37215 615.515.2265 I 866.866.2265 I www.insbanktn.com I Open Mon. - Fri., from 8:30 AM – 4 PM. The Tennessee Insuror
11
10 Tips for New Insurance Agents Keep These Things in Mind as You Begin Your Career
The decision to become an insurance agent can be the beginning of a fulfilling and lucrative career. As a new professional in the insurance industry, it is imperative to know the "basics" and to inquire about other important aspects of the job. As an Errors & Omissions claims handler, I see hundreds of claims every year pass across my desk. Below are 10 suggestions for new agents that, if followed, may reduce the chances of having an Errors and Omissions claim being brought against you and/or your agency. 1) Know the Marketplace Take the time to know the products you are selling, the differences in coverages of those products, and what your competitors are up to. The more you stay on top of what is happening in the industry, the better you are able to provide a high level of customer service to your clients and ensure success in marketing new business. 2) Know the Standard of Care in the state(s) where you are licensed Know what your legal duties are to your customers, as well as what they are not. For example:
written by Julie Carter, AVP, Swiss Re
6) Review your Customer's Policy Review your customer's policy when it is issued for errors in coverage, limits, typos, etc. Insureds usually have a "duty to read" their policies but seldom do. The expectation is for the agent to make sure everything is correct. 7) Use Caution in Email Correspondence Use caution with both external and internal emails. Always be thorough and professional. Remind yourself that everything you write and send could be used as an exhibit in a courtroom someday if an E&O claim was to be litigated. 8) Never Assure Your Customer That "Everything will be Covered" When a customer files a claim, it can be a stressful time for both the insured and the agent. Sometimes the claim involves catastrophic circumstances. Often, it is natural to want to assure customers that "everything will be okay." Assist customers with reporting their claims in these circumstances but refrain from taking a stance on coverage opinions. This is the carrier's responsibility.
An awareness of the basic laws of your state can prevent many potential claims of negligence in the future.
9) Be Responsible with Website Content If you are responsible for a website for your agency or an agency where you work, be careful in the use of language on the sites. Holding oneself out as a specialist in particular coverages can be misleading to customers and result in errors in risk assessment. These websites can be used to your disadvantage in defending a claim.
3) Listen to Your Customer Being a good listener is an underrated skill in the business world. Not only does being an attentive listener avoid errors in the placement of coverage, it also shows your customer that you care about them personally and that you are attempting to meet their insurance needs.
10) Continue Your Education as an Insurance Professional All 50 states require insurance agents to be licensed. The requirements of licensing vary state by state. However, don't stop there! Continuing to pursue a variety of professional designations can do nothing but enhance your skills as an agent and boost your reputation in the community.
4) Properly Assess the Risk/Exposure Listening carefully to the insurance needs of your client will assist in assuring the proper coverage is obtained. Additional investigation, such as viewing the risk that is to be insured, may be advisable, if not required. Know the insured's personal needs and/or the type of business they operate.
About the Author
• • •
Is your state an "order-taker" state? Do you have a duty to pro-actively advise customers of exposures and the need for specific coverages? What is a "special relationship" considered to be?
5) Document Everything One of the simplest things to do as an agent is to document your file with emails, documents received, calls made, etc. However, this is often not done on a regular basis. Many E&O claims can be dismissed with the production of a single document that will prove an otherwise problematic claim to be baseless. 12
Julie Carter is an assistant vice president, claims specialist with Swiss Re Corporate Solutions and works out of the office in Kansas City, Missouri. She may be contacted at julie.carter@swissre.com. Insurance products underwritten by Westport Insurance Corporation, Kansas City, Missouri, a member of Swiss Re Corporate Solutions. This article is intended to be used for general informational purposes only and is not to be relied upon or used for any particular purpose. Swiss Re shall not be held responsible in any way for, and specifically disclaims any liability arising out of or in any way connected to, reliance on or use of any of the information contained or referenced in this article. u
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[ EXPERIENCE. ] The Summit Advantage.®
www.summitholdings.com Policies are underwritten by Bridgefield Casualty Insurance Company and Bridgefield Employers Insurance Company, authorized insurers in AL, AR, FL, GA, IN, KY, LA, MS, NC, SC, TN and TX;
The Tennessee Insuror BusinessFirst Insurance Company, authorized in FL, GA, IN, KY, NC, SC and TN. ©2019 Summit Consulting LLC, PO Box 988, Lakeland, FL 33802
13
Daniel Talks Agency Marketing: Reaching Your Target Market Now You Know Who They Are, How Do You Reach Them? Why should agencies market themselves? How should they market themselves? In this series I will look into agency marketing techniques and strategies and how you can implement them at your agency. So far in this series, we have discussed how to "Define Your Target Market" and how to "Find Your Target Market." If you have taken these steps, you should have a better idea of who your targets are and where to find them. Now that we know that, how can we reach the individuals that will drive business to your agency? For the first level we will focus on Facebook, as this can build your agency a solid advertising base without much investment.
Utilizing Facebook to Reach Your Targets As I mentioned in my last article, Facebook gives you several tools to reach the people that are most likely to take action with you. The most powerful of these tools is the Facebook "pixel." The pixel is a piece of code that's placed on your website to report conversions, build audiences and get insights about how people are using your website. If you have or create a "Business Manager" account for Facebook, you can tie the pixel to your agency's page and over time it will help you build an audience of people who have interacted with your website, page and/or emails.
written by Daniel Smith, CAE
What will it do? The pixel will begin to gather information and allow you to create better Facebook ads, and better target your ads. Not advertising on Facebook yet? That's okay, the pixel will still help you build an audience that you can later target and retarget. Why should you advertise on Facebook? It's the world's largest social site with over 2.2 billion users worldwide. In the U.S. and Canada alone, over 183 million people use it everyday. It's also very cost effective, as you can utilize the ad features for a very low entry cost.1 In addition, Facebook gives you some great data to track. The "Insights" analytics allow you to measure Likes, reach (how many people saw your posts), and engagement (how many people liked, clicked, shared, or commented). You can also see which of your posts result in people unliking your Page – critical information about what is not working.1
Getting Started with Facebook Ads The Facebook Ads Manager offers you 11 objectives that you want your ads to accomplish. The experts at Hootsuite break them down as follows2:
To set up a pixel, you'll need to follow these steps: 1. 2. 3. 4. 5. 6. 7. 8. 9.
Go to Business Settings in Ads Manager. Select your business. Click Data Sources. Select Pixels. Click the + Add button. Type in a name for your pixel. Optional: Enter your website URL. Click Create. To start installing your pixel on your website, click Set up the Pixel Now. If you'd like to stay in Business Manager, then click Continue Managing My Business.
The Facebook pixel is a powerful tool to build data for your agency
If you need more information, like how to set up your pixel if someone else manages your website, please visit https:// www.facebook.com/business/help/314143995668266
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Acuity loves you!
We are proud of the relationships we have built with the best independent agents in the world!
www.acuity.com
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15
• • • • • • • • • • •
Brand awareness: Introduce your brand to an audience. Reach: Expose your ad to as many people in your audience as possible. Traffic: Drive traffic to a specific web page or app. Engagement: Reach a wide audience to increase the number of post or Page Likes, increase attendance at your event, or encourage people to claim a special offer. App installs: Get people to install your app. Video views: Get more people to watch your videos. Lead generation: Get new prospects into your sales funnel. Messages: Encourage people to contact your business using Facebook Messenger. Conversions: Get people to take a specific action on your website (like subscribe to your list or buy your product). Catalog sales: Connect your Facebook ads to your product catalog to show people ads for the products they are most likely to want to buy. Store visits: Drive nearby customers to bricks-and-mortar.
You can then follow these steps to build a campaign: 1. Determine your goal and name your campaign in Facebook Ads Manager. Then – if you haven't already – set up an ads account. Next you'll need to define your target audience. You can build a custom audience based on the pixel data that you have gathered and/or demographic data that you determine (target location, age, gender, and language).
Are you making the Right Choice for their Business? BSIG Makes It Easy With Choice Classes For Middle Market Risks
Middle Market Choice Classes* Below is just a broad listing. If you don’t see what you’re looking for, please contact us.
• General Contractors • Building Trade Contractors • Utility Contractors • Land Improvement Contractors • Pavement Maintenance-Non DOT
• Services Contractors • Building Cleaning & Maintenance Contractors • Construction Material Suppliers • Manufacturing • Wholesale and Distributing
* All classes may not be available in all states.
2. Decide how and where you want your ads to appear. Do you want them to be seen on mobile, desktop or both? Want to add Instagram traffic as well? There are several options here to choose from.
Our Claim Commitment • 24/7/365 loss reporting-including online • • Accelerated auto and property estimating and repair options •
3. Define your budget. You'll need to set a daily budget and schedule. Facebook will prompt you to spend a certain amount, but you can set this however you feel comfortable.
• “Fast Track” medical only claims handling program •
4. Create your ad. This is obivously a critical step. What will your audience interact with the most? A photo? A video? It will take time for you to determine what works best, but try experimenting with something that showcases the human, community or expertise side of your agency.
Want to know more?
• Tele-emergent medicine program-connects injured workers to medical care, not “triage” •
Andy Wilder, Territory Manager 615-932-5523 | awilder@berkleysig.com or your Middle Market Underwriter
5. Track it. Now that your ad is out there, see what your response is. Measure your ROI and determine what the ad is bringing your agency. This is the really the key to your next move. And of course, Facebook isn't your only option. We'll look at more in the next issue. 1 - per "The Definitive Facebook Marketing Guide for Business" via https:// blog.hootsuite.com/facebook-marketing-tips/ 2 - per "How to Advertise on Facebook: The Complete Guide" via https:// blog.hootsuite.com/how-to-advertise-on-facebook/
About the Author Daniel Smith serves as the Chief Marketing Officer for Insurors of Tennessee. He has a Bachelors degree in Marketing with a minor in Graphic Design from the University of Tennessee at Chattanooga, and earned his Certified Association Executive (CAE) designation in 2017. He may be contacted at dsmith@insurors.org. u 16
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To learn more, visit DonegalGroup.com today! The Tennessee Insuror
17
Future Leaders Spotlight
presented by
John Brock, CAWC • Brock Insurance Agency - Chattanooga John Brock is the youngest of three boys that grew up in the woods and on the ballfields. He is a Chattanooga native that enjoys Crossfit, running, fishing, college sports and spending time with his friends and family. A big supporter of his community, John is a member of The Rotaract Club of Chattanooga, serves as a mentor at Chattanooga Prep John Brock of Brock Insurance School and is also involved Agency in the Association of General Contractors (Building Leaders of Chattanooga) as a board member.
The Insuror: Can you tell us a little about your current job title and responsibilities? John: I’m a third generation commercial and personal lines producer. My job is to help us grow our business and serve our many great customers. My responsibilities include partnering with clients to manage safety and risk management exposures to reduce their cost of risk.
The Insuror: What can you tell us about your educational background? John: I have a Bachelor's degree in Risk Management & Insurance from The University of Mississippi. Following graduation, I went into underwriting at Union Standard Insurance Group in San Antonio. My time at Union Standard gave me a comprehensive perspective on how policies are formed, underwritten and then carried out. I have also earned my Certified Authority on Workers' Compensation (CAWC) designation to strengthen my knowledge of workers’ compensation.
The Insuror: How and why did you get your career in the insurance industry started? John: I knew from a young age that I wanted to pursue insurance because that's what my father, grandfather and uncles did. It really interested me to continue in the industry my family had been successful in, so I set that as my career goal. Also, as an agent I get to work very closely with our customers and I enjoy assisting them as they continue to 18
grow their businesses and help build our community.
The Insuror: Do you have any influences/role models in the industry? John: I would have to say my Uncle Paul Brock. He represented every core value that Brock Insurance Agency was built on. From an unusually young age, he had to step up and take on a major responsibility of running the agency. He was such a strong presence in that role and it really inspired those around him. Although he passed away in 2008, the legacy that he left behind has inspired me to keep moving forward and building up the company in the same manner and with the same momentum that he did. The other influence I would mention is most certainly my Dad. I immensely admire him in all things he does both personally and professionally.
The Insuror: Is there any advice you could offer Young Agents or others in the industry to achieve success? John: I would recommend that they do something to grow their network each day and try to find something that "resets your button." Whether it's going to the dog park, watching a "30 for 30," or doing Crossfit, it's important to center yourself and find ways to recharge. Doing both of those things will lead to new opportunities.
The Insuror: As an independent agent, you have many partners in this industry, including carriers, MGAs and many more. How do you determine which ones are the right relationships? John: Over time, specific carrier partnerships naturally developed. I definitely appreciated the individuals who invested more of their time and knowledge so that I could grow as an agent and I won’t forget that as my career continues to progress.
The Insuror: Thank you for giving us your time, John, we appreciate it and wish you continued success. John: I want to thank Insurors and Bill Emerick from Penn National Insurance for this opportunity. The Young Agents program that you both promote has given me some great opportunities to connect. I wish everyone a successful second half of 2019! u The Tennessee Insuror
Young Agents '19 Upcoming Events and Information (615) 375 7419 www.knkcompliance.com
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Our Young Agents Committee strives to offer young insurance professionals with opportunities to network and develop in the industry. Over 500 Insurors members participate in the Young Agents program in some fashion. We hope you'll join us at one of these upcoming events or contact us for info: Insurors Lower Middle Young Agents Reception • July 11th Ole Shed Brewing • Tullahoma • 5-7 pm CST
3
Insurors Convention Young Agents After Party • October 20th Citron Et Sel • Chattanooga • 8:30-10 pm EST We have a great group of volunteers on the Committee who support the activities of this program. Our previous Young Agents Chair Alan Sisk has taken a new position in Texas, so our committee is now led by Cy Young of Young-Hughes Insurance in Alamo.
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C O 2 M P L I A N C E
5
Young Agents Committee 6
Cy Young - Chair President Young-Hughes Insurance Alamo cy@younghughesinsurance.com
7
David Allen, CIC, CRM - Immediate Past Chair Principal Agent RSS Insurance Chattanooga dallen@rssins.com Matt Felgendreher - Region II Executive Vice President W.C. Dillon Company & Insight Risk Management Nashville mfelgendreher@irmllc.com Derek Wright - Region III Agent/Principal Graham & Cook Insurance Knoxville derek@grahamandcook.com For more info, or for any questions on the Young Agents Committee and its programs, please contact Daniel Smith at dsmith@insurors.org or call 615.515.2601. u The Tennessee Insuror
ACROSS:
S E R V I C E S
2 a greater or additional amount or degree 3 “_____ flies when you are having fun” 4 opposite of 2 across 6 pressure or tension 7 accompanied by (another person or thing) 8 the missing puzzle piece
8
K N K
DOWN: 1 the state or fact of according with or meeting rules or standards 5 the action of helping or doing work for someone, plural 19
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The Tennessee Insuror
From Your President The Politics of Politics As I write this, it's Memorial Day and Jenny and I are spending some time in Hollywood, SC. This holiday always seems to prompt me to reflect on history, and today I have been doing just that. Both our country's history and this Association, both recent and much less recent. As far as our recent history, much of the Association’s activities thru the first 5 months of 2019 centered around politics. Let's cover a few of those activities and why they're so important.
Big "I" Legislative Conference Just a few weeks ago a few of your Insurors Board members, a few young agents and our Insurors staff attended the Big "I" Legislative conference in D.C. We had many very productive meetings with our elected representatives from across the state. Following several days in D.C., I’m happy to report that some positive business is taking place. We had a VERY productive meeting with Senator Lamar Alexander. He is heavily involved in health care and there is excellent work being done that’s not being reported. There is movement from both sides on reducing drug cost and allowing associations to form groups to purchase health insurance. Keep watching for more information in the upcoming months as Senator Alexander continues forward.
On the Homefront On the State level, Insurors was very active in both passing and preventing legislation that will or would impact our industry. I would recommend you check out the article from our Director of Government Relations, Jim Layman, on page 31 about the specifics of those efforts. Ashley and Jim are continuing the Insurors tradition of being the premier voice "On the Hill" for independent agents in Tennessee. As the Association continues to spread the “politics” across the state, several “Town Hall” meetings have been planned with additional locations and dates being discussed. Our goal is to have local agents and elected representative’s meeting and discussing issues that are The Tennessee Insuror
of importance to both parties. As we all know from recent activity surrounding OJI, local access and “boots in every community” is our lifeblood when action is required. The currently scheduled dates are: July 25th – Memphis July 30th – Johnson City July 31st – Knoxville August 20th – Chattanooga August 21st – Nashville Everyone will be receiving additional information on these upcoming events. Please come out and join your fellow agents and representatives when a meeting is scheduled in your area. This will be a great opportunity for you to get a full update of our advocacy work.
How We Get Things Done The 2019 Government Relations Committee has PAC funding as one of its core responsibilities. This committee is currently developing plans and ideas on increasing our annual contributions for both InsurPACTN and Insurpac National. We will be reaching out to “all agents” across the state to contribute for the first time or work on “ALL IN” for contributions to both. It’s a simple fact that it takes more PAC dollars to be relevant today than it did 5 years ago.
" ...local access and 'boots in every community' is our lifeblood when action is required.”
Two recent developments – the House speaker stepping down and our Insurance Commissioner leaving after 8 years for the private sector – further drive home the point of political change and the need to continue to grow the PACs. With a new Speaker of the House in Tennessee, we will likely have new committee members in the General Assembly. That means new targets for our PAC contributions, and many new requests for contributions as well. Our PAC must be funded for us to continue to support the Representatives that best understand our industry and support our interests. In the meantime, we'll keep up the politics on your behalf. Best wishes to all and enjoy the Summer. u
Joe Hunt 21
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The Tennessee Insuror
From Your IIABA National Director My Goal is to Serve I am Louis Stephen Zuzga Moran III. Most of you simply know me as Lou-the-third. In addition to my role as your National Director from Tennessee, I am currently a candidate for the at-large seat on the Executive Committee for the Big "I" National Association. Why does this matter? The Big "I" is our national partner. They make decisions and work on issues that affect us all the way down at the state and local level. By having a Tennessee voice on the Executive Committee – something we've never had before – we can be on the forefront of the decisions that affect the State Association and every one of us as members. Big "I" is a voluntary federation of state associations and local boards, with affiliates in every state and the District of Columbia. Its independent insurance agents and brokers are politically astute and are involved both locally and nationally. They monitor and affect consumer, insurance agent and broker, and small business issues in Washington through IIABA’s active, professional staff on Capitol Hill.
Why Does it Matter to Me? Why is this so important to me? Because I love this industry and this organization. If you'll indulge me, let me take just a couple minutes to further tell you about my background in the insurance industry and why this is something I truly love. I began working at Inter-Agency Insurance Service in Knoxville in 1985. At the time I was still attending the University of Tennessee. My father had founded the agency and encouraged me to come join him in the business. To learn more about insurance, I attended several industry schools, including Drake University’s Insurance School, Safeco schools and training run by Continental Insurance. The foundation was laid out for me. Early in my career, I had the privilege of taking a licensing class from Chuck Bidek. Chuck encouraged and challenged me to learn as much as I could about insurance. I have become a steward of the industry – I learn something every day about it. The Tennessee Insuror
Chuck also encouraged me to get involved with Insurors of Tennessee. Insurors has been a vital part of my career and, honestly, my life. I have been fortunate to be recognized by the Insurors as Young Agent of the Year, Agent of the Year, and have received several Presidential Citations. I was elected as President of the local board as well as the State Board. I joined the Big "I" as a State National Director in 2015. On the National level, I have served on the Big "I" Government Affairs Committee as well as the Insurpac National Committee. I have also participated in numerous national meetings including the Big "I" Legislative Conference and the Leadership Conference. I am proud to say that in 2018 we also achieved our first ever Eagle Award for national Insurpac contributions as a state, an effort I helped coordinate. My family has been along on this ride with me. Mimi, my wife, works in the Agency, and our daughter, Emily, is a third generation insurance brat, currently working on the company side. Our son, Lou IV, is a senior at UT – we’ll have to wait and see which direction he takes!
The Next Step I am honored to be considered as a candidate to serve on the Executive Committee. The election will take place in September, with the other elected National Directors each casting their vote for a candidate eligible for an at-large position.
“Why is this so important to me? Because I love this industry and this organization.”
The vote winner will then be inaugurated at the leadership meeting of the Big "I" for service beginning with the next fiscal year. Service on the Executive Committee then makes you eligible for the position of Big "I" Chairperson. The Big "I" is an essential part of our industry and we need the leadership to keep us strong and current. If you have questions about why I am running, what the Executive Committee does, or how the process works, please feel free to reach out to me. I am excited about having another opportunity to serve this great Association. u
Lou Moran III 23
To all of our independent agents . . .
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The Tennessee Insuror
From Your CEO Can We WIN Together? Inspiration is all around us if we look for it. Last summer I was privileged to be present when an agent and board member proposed her idea – create new networking opportunities for professional women in the insurance industry. From there WINS (short for Women In Insurance) was started. Networking is not a new concept. It is defined as, “the action or process of interacting with others to exchange information and develop professional or social contacts.” But it is more than that. Networking within your business or industry is creating your very own community of colleagues throughout your career who can share information on a particular topic, policy or type of insurance. This community can also guide professionals young and old through the ups and downs of life.
My goal for WINS is to create a collegial environment – not a competitive one – where women help each other. Finding someone to ask "How should I tackle this next business challenge?" or "Do you like this idea? How should I move forward?" Providing the opportunity to develop relationships so that you can seek feedback from others who have been in similar situations. Helping each other reach goals. Hopefully a positive outcome from WINS is not only keeping bright and hard-working women in the industry, but also learning how to network. As you know, networking is not just intra-industry. The ultimate goal of those in sales is more selling. The more networking you do, even within your own industry, the more relationships you build, the more opportunity you have to grow your business.
This May hosted our third WINS events in Tennessee, and we already have another scheduled. Our focus is to host events that allow women to connect with other women in the insurance industry in a comfortable environment. We will also provide content that is valuable for business and personal growth.
Over 40 attendees pack the room at our last WINS event
A great initial crowd kicked off our WINS events in August 2018
I believe that it is important for us to provide and facilitate opportunities for women in insurance across Tennessee to network and develop a community. When I look at the insurance industry, and independent agencies in particular, I see an excellent opportunity for more and more women to join the business and grow within our industry. However, we also need to provide the tools and support necessary to juggle career and family obligations. The Tennessee Insuror
While there is no one answer on how to grow business, focus on delivering the highest quality of work to your clients, regardless of your position in the agency. Be responsive, no matter what. And finally, continue networking by further developing business relationships and personal relationships.
“Networking w ithin yo ur business or industr y is creating your very own community of colleagues...”
The Next Chance to Get Involved Our next event will be our first outside of Nashville, as we present WINS-Chattanooga on June 11 at Granfalloon on the Southside of downtown. Get more information on the event or register now at insurors.org. I hope to see some of you soon at one of our WINS events. Let's help this industry keep growing for everyone involved. u
Ashley Gold, J.D. 25
Olympia Insurance
Olympia Insurance
26
The Tennessee Insuror
REACH YOUR GOALS
2019 EDUCATION SCHEDULE NASHVILLE
Feb. 12 - CISR: Elements of Risk Management April 10-12 - CIC: Agency Management May 7 - CISR: Personal Auto June 19-20 - JK: Ruble Sept. 11-13 - CIC: Commercial Multiline Sept. 24-26 - CRM Nov. 6-8 - CIC: Personal Lines Dec. 3 - CISR: Commercial Casualty I
MEMPHIS
Feb. 13 - CISR: Agency Operations Feb. 27-March 1 - CIC: Commercial Casualty May 8 - CISR: Personal Auto Dec. 4 - CISR: Commercial Casualty I
CHATTANOOGA April 4 - CISR: Commercial Casualty I Oct. 3 - CISR: Personal Lines - Miscellaneous
2019 EDUCATION SCHEDULE KNOXVILLE
April 3 - CISR: Commercial Casualty I Aug. 14-16 - CIC: Commercial Property Oct. 2 - CISR: Elements of Risk Management
JOHNSON CITY
April 2 - CISR: Commercial Casualty I Oct. 1 - CISR: Elements of Risk Management
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. Registration is fast and easy at www.insurors.org. More information about each class can also be found online.
WWW.INSURORS.ORG Register online or Contact our Membership Specialist Ellie Small at esmall@insurors.org or 615.515.2607
CISR 9/24 9/25 9/26 12/3 12/4
Fee: $186
Elements of Risk Elements of Risk Personal Lines Miscellaneous Commercial Casualty I Commercial Casualty I
CIC
CE: 7
Johnson City Knoxville Chattanooga Nashville Memphis
Fee: $430
CE: 16
Knoxville Nashville 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.
ABEN Webcasts (insurors.aben.tv) Premium Auditing: Agents Must Know CE: 2 $52 The Basics of COPE CE: 3 $79 The Law of Insurance Contracts CE: 3 $79 Torts, Negligence & Liability CE: 3 $79 Double Trouble - COI and Biz Auto CE: 2 $48 Are You More Ethical Than Politician? CE: 1 $24 NFIP Then and Now CE: 3 $72 E&O: Comm. Prop. Coverage Gaps CE: 3 $72 E&O: Roadmap to Policy Analysis I CE: 3 $72 Commercial Prop. Endorsements CE: 2 $48 E&O: Meet the Challenge of Change CE: 2 $48 Business Auto Claims Problems CE: 2 $48 Ethical Issues: Personal & Org. CE: 3 $72 Business Income and Extra Expense CE: 2 $48
Fee: $430
9/24-26 Control of Risk Management
Dynamics 10/17
8/14-15 Commercial Property Institute 9/11-12 Commercial Multiline Institute 6/19-20 Ruble Graduate Seminar 11/6-8 Personal Lines Institute
6/6 6/6 6/6 6/6 6/10 6/10 6/11 6/11 6/11 6/11 6/18 6/19 6/19 6/19
CRM
Fee: $495
Dynamics of Selling
CE: 16
Nashville
CE: 16
Nashville
Online Courses (www.iiaba.net/vu) Available from IIABA Virtual University. Member pricing shown.
Ethics for Insurance Professionals How to Calc. Business Income in 5 Min. National Flood Insurance Program New Employee Training Course
CE: 3 CE: 3 CE: 6 CE: 9
$75 $50 $80 $100
*check VU site for current information on CE and pricing
Available from The National Alliance
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Legal & Ethical Requirments of Insurance CE: 4 Insuring Flood Exposures - NFIP Review CE: 4 Available from The Institutes
$75 $75
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Insurance Principles and Policies CE: 7 Long Term Care CE: 24 Workers’ Compensation CE: 10 Employee Benefits for Small Companies CE: 4 Healthcare Reform and Affordable Care CE: 5 e-Coverage CE: 15 Fundamentals of Personal Auto Insurance CE: 3 Management Process for Ins. Professionals CE: 21 Intro to Flexible Spending Accounts CE: 4 Terrorism and Its Impact on Insurance CE: 4 Toxic Mold and Homeowners Insurance CE: 15 Understanding the Industry of Insurance CE: 5
$49 $99 $59 $39 $49 $79 $29 $89 $39 $39 $79 $39
Register Online at www.insurors.org
Indicates course is presented by The National Alliance. Register for these courses at www.thenationalalliance.com The Tennessee Insuror
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Partners
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FOR TENNESSEE
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PARTNERS
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Leading
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FOR YOUR SUPPORT OF INDEPENDENT AGENTS IN TENNESSEE
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What Does an Agent Owe...
...continued from page 8
At the crux of the COI issue is any information the agent places in the COI's Description of Operations block that might create a detrimental reliance on the part of the holder. Note the title of the box, “Description of Operations/Locations/Vehicles;" it does not say, “Description of Coverage." Only one coverage section references the Description of Operations box – Workers' Compensation regarding whether individuals are excluded. No other coverage section points to this block.
Where Does That Leave Us? Ultimately, the ONLY coverage information that agents should be providing is the information laid out in each coverage section. Nothing else. No pontification about coverage, no guarantee that it meets any standard, only that there is a policy with specific effective dates and the limits specified on the COI. Last warning, be very careful with the Additional Remarks form (ACORD 101). The same rules apply with the use of this form. Let's end by finally answering the question, “what does an agent owe a certificate holder?" The short answer is – NOTHING! The agent has no contractual relationship with or responsibility to the certificate holder; the holder is an outside party. The only duties agents owe certificate holders are truthfulness and responsiveness (when they have questions). Agents are NOT charged with doing anything FOR holders or explaining anything the holder doesn't question. All duties, including those related to COIs, are to the agent's client – the insured. You can find more information on best practices related to COIs by visiting the Virtual University Research Library at www.independentagent.com/vu.
More than an account. A relationship.
More than a policy. A promise. At FCCI, we’ve been working with select independent agents to insure businesses for more than 60 years. Your clients are more than an account to us. We’ll work with you so they can face the future with confidence.
About the Author Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS, joined the insurance industry in 1990. He is the Executive Director of the Big "I" Virtual University. His current duties involve researching, writing, and teaching property and casualty insurance coverages and concepts to Big "I" members and others in the insurance industry. During his career, Boggs has authored more than 1,000 insurance and risk management-related articles on a wide range of topics as diverse as Credit Default Swaps, the MCS-90, and enterprise risk management. In addition to this, Boggs has written 15 insurance and risk management books. A graduate of Liberty University with a bachelor's degree in Journalism, Boggs' background includes work as a risk management consultant, loss control representative, producer, claims manager, and quality assurance specialist. He may be contacted at chris. boggs@iiaba.net. u 30
www.fcci-group.com
800-226-3224
PROPERTY I CASUALTY I SURETY I RISK MANAGEMENT I SECTOR EXPERTISE
The Tennessee Insuror
Layman's Terms
Insurors Updates from Nashville and D.C.: Wrapping Up Session in Time for Big "I" Leg. Conf. Insurors Director of Government Relations, Jim Layman, J.D., breaks down the legal and legislative issues facing our industry. Several Insurors members met with members and staff from the Tennessee congressional delegation in conjunction with the 2019 Big "I" Legislative Conference May 8th through 11th in Washington, D.C. to discuss federal insurance industry issues. We met personally with Reps. Burchett, Cooper, DesJarlais, Kustoff, Rose, and Sen. Lamar Alexander. We also met with staff members from several other legislative offices. With each Congressman, we asked for an extension of the NFIP which is set to expire at the end of May and asked for a more permanent solution, as well as discussing issues surrounding crop insurance, TRIA, and healthcare-related legislation. Sen. Alexander was very interested to hear the work we’ve done on the state level regarding association health plans, and one of his top priorities in his remaining time in office is tackling surprise billing issues. The trip was a beneficial time to stress the importance of these issues to D.C. legislators and remind them of the serious consequences their decisions have on their constituencies and in our industry. Meanwhile back in Nashville, the 2019 session of the 111th Tennessee General Assembly adjourned on Thursday, May 2nd. In the final days of session, the legislature passed a $38.5 billion budget that included funding for Education Savings Accounts, the "Katie Beckett waiver" for families of children with disabilities, as well as elimination of the professional privilege tax for all but four licensed professions. Below are some of the major insurance topics that our lobbying team worked on this year:
The Tennessee Insuror
1. Commission Sharing – PC165 was enacted April 24, 2019. This bill allows insurance agents to share commissions with unlicensed individuals whom they employ or are affiliated with. This was a bill we advocated for and worked hard on. We received only one “no” vote on the bill out of 132 legislators. Many thanks to our sponsors and fellow insurance agents, Sen. Mark Pody and Rep. Ron Gant, for their successful sponsorship of this bill and for being great advocates for agents. 2. Crop Insurance – HB0176/SB0309 was signed by the Governor on May 10th. This bill allows individuals with a crop insurance limited lines license to sell multi-peril crop insurance. Insurors advocated for the passage of this bill and were successful in getting the bill on the consent calendar in both chambers. Rep. Mark Hall and Sen. Jon Lundberg were the sponsors and were wonderful to work with. 3. Association Health Plans (AHPs) – Insurors lobbyists teamed with the TNSAE (Society of Association Executives) to help pass Pub. Ch. 86, which exempts non-profit trade associations from rebating statutes. This bill was necessary for AHPs to operate under the new Federal regulations regarding AHPs. Thank you to Sen. Frank Nicely and Rep. Rick Tillis for working to pass this bill with zero “no” votes. 4. Work-Based Learning – SB1259/HB0740 was originally brought, in part, to clarify what type of insurance school systems had to provide for students who participated in workbased learning programs. Insurors successfully worked to remove an unfavorable amendment and clarify the insurance portion of the bill. The bill is headed to Gov. Lee for signature.
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5. IRS Test for Employment Relationship - SB0466/HB0539 which changes the test for determining whether a worker is an employee for several employment law purposes, was signed by the Governor on May 10th. Insurors worked with other stakeholders to successfully remove workers’ comp from the application of the bill to avoid confusion in the industry. Now that session has ended, our Government Relations team will be compiling a legislative report of all significant bills and presenting it at Town Hall meetings across the state. We’ll be inviting legislators to attend and discuss issues we can tackle next year. Please save the following dates for these meetings: July 25th – Memphis July 30th – Johnson City July 31st – Knoxville August 20th – Chattanooga August 21st – Nashville About the Author Jim Layman, J.D. is the Director of Government Relations for Insurors. He previously worked for the Tennessee Dept. of Mental Health and Substance Abuse Services as legislative liaison and rules coordinator. Prior to that, he worked for the Dept. of Health as a legislative liaison and the Dept. of Labor and Workforce Development as director of unemployment insurance appeals. Jim graduated from the University of Memphis Cecil C. Humphreys School of Law and received his undergraduate degree from the University of Tennessee. He may be contacted at jlayman@insurors.org. u
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NEW Redesigned 16 Hour CIC Curriculum
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Complete any of our CIC courses in 16 hours. Get back to what matters most - your clients.
Earn the industry’s most respected designation in less time than ever before. Our newly revised curriculum is enhanced with video, real world examples, and knowledge checks so you can put your learning to use immediately. Whether you are starting on your learning path or in need of an update, the CIC designation is proof of your commitment to providing only the best for your clients.
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Thenationalalliance.com/cic
Association Update Elite Insurance Solutions Feat. by Rough Notes The Rough Notes magazine recently featured Elite Insurance of Franklin as their April agency spotlight. The article discussed the 11-year growth of the agency from one location to nine and from two employees to the current staff size of 47. “We’re producing a little over $1 million a month in volume and that keeps growing,” Agency principal Mike Stansbury told the magazine. “It really makes me happy that our growth allows us to offer opportunities to more people to come into this business at a place where they can have fun while serving others."
Reliance Partners Announces Promotions Chattanooga-based Reliance Partners has announced several promotions at its fast growing commercial agency focused on the transportation and logistics industry. First, Ashley Hammonds and Jason Coleman have been promoted to the position of Executive Vice Presidents of Sales. Hammonds was one of the first sales team members after Andrew Ladebauche, CEO, started the agency. He earned a B.S. in Finance from Auburn University and joined Reliance after 10 years operating an asset-based trucking company. Coleman began his career with the company in 2013, after 15 years in the insurance industry. He earned a B.S. in Animal Science and Economics from the University of Tennessee at Knoxville. Both he and Hammonds add more than 40 years of collective experience to Reliance’s transportation and logistics division. In addition, the agency announced the advancements of Jordan Chastain to the position of Sr. Vice President of Sales as well as Christopher Murphy and Teo Cardenas to the position of Vice Presidents of Sales. All three will continue to oversee the implementation of Reliance’s sales strategy and business development intended to increase Reliance’s presence within the transportation and logistics space.
The Crichton Group Celebrates 40 Years Nashville-based The Crichton Group just celebrated the 40 The Tennessee Insuror
year anniversary of their agency. Rob Crichton founded the agency on May 15, 1979, and they have now grown into one of the largest in the state. Crichton Group attributes their continued success to their "wonderful" employees, clients, carrier partners and leadership.
Montgomery & Associates Wins "Sizzle Award" Franklin-based member Montgomery & Associates recently won two "Sizzle Awards" as presented by FranklinIs.com. The awards recognized the agency as "Best Financial Services" and "Best Insurance Agent/Firm."
Holland Joins Zander Insurance as EVP Zander Insurance has announced the addition of Kell Holland to its leadership team as Executive Vice President. Holland will oversee sales, client relationships, operational functions, business expansion, and community involvement aspects of the Employee Benefits and Property/ Casualty groups. A veteran of the industry, Holland previously worked in leadership on both the agency and company side in his prior roles.
Join the Big "I" GIVE Movement o you give back to the community? Join the GIVE Movement, D which was launched by the national Big "I" Young Agents Committee (YAC) to highlight hometown acts of service on a national platform. June 1-8, we want you to share your stories of community service. If your agency, state or company completed a community service project at any time this year, report it to YAC and we will post your story online and include it in our annual GIVE tally. When we tally the results of our efforts as an industry, the results speak volumes. Last year, 72 organizations from 26 states, including 1,683 volunteers, made a huge difference in the community, volunteering 6,728 hours, collecting 155,920 items and donating more than $640,000. Learn more about the community service movement sweeping the nation in this video at https://www.youtube. com/watch?v=u-HP5-y9rhA or contact Susie Bonner at susan. bonner@iiaba.net. u 35
Your insights
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Your attorney clients know their firm inside and out. You know your markets and your competitors. At Swiss Re Corporate Solutions, we have the capabilities and the financial strength to meet the risk needs of insureds for Lawyer’s Professional Liability. Whether the risk is basic or complex, we believe there’s only one way to arrive at the right solution. And that’s to work together and combine your experience with our expertise and your strengths with our skills. Long-term relationships bring long-term benefits. We’re smarter together.
Swiss Re Corporate Solutions is proud to be the exclusively endorsed Lawyer’s Professional Liability provider for the Insurors of Tennessee. For more information or to access the program, please visit www.bigimarkets.com and select the Lawyers Professional Liability Program.
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Insurors of Tennessee Ph 1 800 264 1898 E info@insurors.org
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Insurance products underwritten by Westport Insurance Corporation, Overland Park, Kansas, United States, a member of Swiss Re Corporate Solutions.
Company Spotlight MetLife Auto & Home® For over 150 years, MetLife has helped generations of people around the world protect their finances, property, family and future. MetLife has a demonstrated commitment to customers, employees and communities around the world. The company is recognized for its efforts in customer satisfaction, environmental sustainability, human rights, women’s rights and helping returning Veterans pursue more from life. As a subsidiary of MetLife, Inc., MetLife Auto & Home® follows in that great tradition, embedding these principals into their business practices.
Customer-centric Approach MetLife is developing new ways to continuously put the customer at the center of everything we do. This is the foundation of their brand’s noble purpose of being a trusted provider to help customers navigate a changing world, as expressed in the company’s tagline: MetLife. Navigating life together®. Our changing world presents us with many remarkable opportunities. But, with those opportunities, come new challenges and demands. Customers expect immediate access to information and answers. They want simplicity and convenience to go with comprehensive protection. They appreciate guidance, but crave value. MetLife Auto & Home can help you provide it all efficiently and effectively with their new suite of innovative P&C insurance products and a new stateof-the-art, proprietary quoting and servicing system coming soon.
Attract a Wider Customer Base by Offering More Products Personal Property In addition to their suite of products, you’ll also gain access to the GrandProtect policy package. It’s a true portfolio of polices that offers unmatched The Tennessee Insuror
NAVIGATING LIFE TOGETHER®
protection and special coverages, such as; Single Loss Deductible per occurrence, Blanket Property Limit per location, and Worldwide Auto Liability Coverage. Your customers will also appreciate the simplicity of one policy package with one premium notice and one renewal date. Business Open up additional revenue streams with their BOP and BAP. Designed to meet the needs of a wide range of businesses, including new ventures, local deliveries, and 100% online sales, these products offer the exceptional coverage and value your customers want with the flexibility and convenience you need to sell them. Plus, they pay a competitive new business commission rate. Life Round out your services to help protect customers with a Term, Permanent, Universal or Whole Life insurance policy. MetLife's internal support teams are experts in the strengths and weaknesses of each product and can assist you in putting together the best proposal for your clients. Their team will help you process the application and work with underwriting case management to help ensure that each policy moves through the system in an efficient and effective manner.
Maximize with Book Consolidation Often times, agents are so focused on getting leads from external sources, they miss opportunities right in their own book of business. A book consolidation can help to Increase revenue, maximize commissions & contingencies and improve staff productivity. As one of the leading personal lines carriers, MetLife Auto & Home makes the book consolidation process easy by doing all of the work for you. Contact them today to see the difference they can make for you. u
Tennessee Contacts
Debbie Lazzaro Regional Sales Manager 615.812.4811 dlazzaro@metlife.com As a RSM for the state of Tennessee, Debbie depends on her 30+ years of experience within the insurance industry to recruit, train, motivate, and mentor a sales force that will be positioned to exceed production goals. Susan Summar, CPCU, CIC Regional Sales Director 407.902.3923 ssummar@metlife.com As RSD for the Southern Region, Susan manages the Personal Lines and Commercial Lines Field Sales force in Alabama, Arkansas, Louisiana, Mississippi, Tennessee and Texas. About MetLife Auto & Home MetLife Auto & Home is one of the nation’s leading personal lines insurance groups, insuring almost four million autos and homes. Would you like to boost profits quickly and effectively while simplifying the business structure with your agency? Then consider an appointment with MetLife Auto & Home, an A (Excellent) rated carrier by A.M. Best. Insurance customers today value the expertise and personal touch only you can provide. MetLife Auto & Home is committed to providing you with access to innovative products and services to help you keep pace with the changing marketplace. See more information now by visiting www.metlife.com/insurance/ 37
TOGETHER WORKING “Exclusive member agencies, collaborating to bring the best insurance solutions to their clients.� The Allison Insurance Group - Jackson Bagley & Bagley Insurance - Fayetteville Boyle Insurance Agency, Inc. - Memphis Burke, Powers & Harty - Bristol Carnal-Roberts Agency, Inc. - Lexington Cate-Russell Insurance, Inc. - Maryville Frank E. Neal & Company, Inc. - Nashville Goss Insurance - Hixson Inter-Agency Insurance Services - Knoxville 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 Tigrett & Pennington Inc. - Dyersburg V.R. Williams & Company - Winchester Watauga Insurance, Inc. - Johnson City
Get more information now at www.securerisk.com
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Broker Spotlight Bailey Special Risks The Broker of Choice for Retail Agencies Bailey Special Risks (BSR) is a proud independent Wholesale Broker based in Middle Tennessee. They've also just celebrated their 30th anniversary in business! As a go-to broker for professional liability across the U.S., they can help you with markets including: Cyber Liability, Directors & Officers, Employment Practices and E&O coverages. BSR prides themselves on being able to provide FAST, friendly quotes and a wealth of knowledge regarding all classes of business in the professional liability realm. Additionally, they are able to provide you and your staff with sales training, Continuing Education credits, and Lunch & Learn opportunities on many topics.
Get in Touch There are many ways that you can connect with BSR. First, you can check out their website at www.bsrins.com. From there, you can link to their blog and also find them on LinkedIn, Twitter and Facebook. Through theses links, you will find current articles and stories the touch on all professional cover-
ages and classes of business. On their website, you will find applications, product highlight sheets, a holiday schedule, staff biographies and more. Want more ways to get in touch with them? Contacts including priority email addresses, individual direct emails, and phone numbers with extensions are all at your fingertips under the "Contact Us" link on their site, or just call 1.800.768.7475 for immediate assistance.
A History of Support In addition to their 30 years of helping independent agents across the country, they've been a supporter of Insurors of Tennessee since their opening day. In fact, they first advertised in The Tennessee Insuror in 1989 during our inaugural year of publication. "We look forward to continuing our strong relationships and enjoy building new ones. Thank you for your business and support!" - Janet Smith, CIC, President of BSR. u
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• Integration with Applied Systems, ConceptOne, Insurance Management Systems, Jenesis Agency Management Solutions, The Agency Advantage, and Vertafore (AMS Prevail). AccuAgency and many more coming soon. Custom integration options are also available! • Credit card and ACH down payment* • IPFS Connect® mobile app - make payments**, update account information, receive push notifications and more (convenient for trucking and construction).
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*IPFS’s down payment processing service is provided as a convenience only and is subject to prior agreement to IPFS’s terms and conditions. **Fees may apply where allowed by state law. Copyright © 2018 IPFS Corporation. All rights reserved.
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Recruiting new talent. Target marketing. Competing for new business. Perpetuation planning.
As an independent agent, the path forward isn’t always clear. With Keystone, the best resources are at your fingertips to help you carve out clarity from our industry’s complexities. We connect you to a community of like-minded independent agents, provide access to relationships that extend beyond your geographic reach, and employ the expertise that expands opportunities for you and your clients.
Success is a journey. Let us be your guide.
Contact Michele Bicknell: 570.473.2148 mbicknell@keystoneinsgrp.com keystoneinsgrp.com
Because independence works better together. ©2018 Keystone Insurers Group ®. All rights reserved. This does not constitute an offer to sell a franchise in any state in which the Keystone Insurers Group franchise is not registered.
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The Tennessee Insuror
Company Briefs FCCI Group Marks 60th Anniversary FCCI Insurance Group, a company dedicated to delivering commercial insurance products to agency partners and policyholders in 19 states, kicked off its 60th anniversary celebration on April 3. The event streamed live from its Sarasota headquarters to 850 teammates and partners in its regional footprint, featuring keynote speaker, author and leadership coach John C. Maxwell. In his remarks opening the celebration, Chairman of the Board, President and CEO, Craig Johnson recognized FCCI’s devoted teammates and agents throughout the six regions where FCCI does business, and reaffirmed his FCCI CEO Craig Johnson (L) joins speaker John Maxwell on stage excitement about where the company is headed. “We are fortunate to be viewed with great respect in the industry. From being the first to integrate risk control and nurse case managers into services offered to agents and policyholders, to developing Risk Management & Insurance curriculum at the university level to ensure a vibrant recruitment pipeline, along with FCCI’s in-house School of Excellence program, we will continue to advance innovative approaches to our business model while staying true to our history of keeping promises, and doing what we say we will do.”
The Hanover Names DiMarzo Head of Marine The Hanover Insurance Group has announced that Anthony DiMarzo has been named president of the company's marine business. He has more than 25 years of marine experience and has played an important role in helping grow the carrier's business to become a top 10 company in the marine marketplace. DiMarzo will work closely with The Hanover's trusted agent partners to continue to meet their marine needs and the needs of their policyholders.
Northwest Europe, and Nationale Borg Reinsurance (NBRe) in Curacao. Subject to regulatory approvals and customary closing conditions, it is expected that the AmTrust Surety portion of the acquisition will close in Q2 of 2019, and the AmTrust Insurance Spain, Nationale Borg and NBRe portions to close in the second half of 2019. In a release, Tim Mikolajewski Liberty Mutual President, Global Surety, stated that, " The purchase of AmTrust’s international surety operations will provide us with a platform for broader global development through increased market share, compatible portfolio additions, and key international talent. The businesses also allow for an immediate presence in some of our under-penetrated regions, furthering our efforts to become the leading global surety provider."
Curtin Joins Harford Mutual as AVP Harford Mutual Insurance Company has announced that David Curtin has joined the company as Assistant Vice President of Underwriting. Curtin will oversee all underwriting business units to drive common sense approaches and collaboration. Curtin brings more than 30 years of experience in insurance industry with both mutual and stock carriers, most recently as the Director of Underwriting at Sentry Insurance Companies in their $252 million Commercial Business Products Division where he oversaw five consecutive years with combined ratios of 97.3 or better. Curtin is originally from Sauk City, Wisconsin, earning a Bachelor of Business Administration with a focus on economics from the University of Wisconsin - Whitewater and a Master of Business Administration from Northern Illinois University. Curtin also holds CPCU, CIC, CRM, AIM and AINS designations.
The Hartford Closes Navigators Acquisition
Liberty Mutual Acquires AmTrust Surety and Reinsurance Entities
The Hartford has closed its previously announced acquisition of The Navigators Group, Inc. for a total price of $2.2 billion in cash, including expenses. The deal, announced in August of 2018, expands The Hartford’s product offerings and geographical footprint. Navigators has 22 locations across the U.S. and eight globally, and has roughly 820 employees around the world set to join The Hartford now that the deal has completed.
Liberty Mutual Insurance has announced that the company has entered into a definitive agreement to acquire AmTrust Financial Services’ global surety and reinsurance operations. The acquisition includes AmTrust Surety in the U.S., AmTrust Insurance Spain in Spain/Latin America, Nationale Borg in
The Hartford’s President, Doug Elliot, commented: “Today, we welcome more than 800 Navigators employees across the globe to The Hartford. Our combined capabilities and shared commitment to underwriting excellence enable The Hartford to offer a more diversified array of products through a
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committed to mutual success. Harford Mutual Insurance partners with independent agents in Tennessee.
We insure restaurants, contractors, mercantile, and other commercial entities. We’re committed to protecting your client’s business and building yours.
HarfordMutual.com 800.638.3669 42
INSURING BUSINESSES SINCE 1842 The Tennessee Insuror
broader distribution network, with an expanded geographic reach.”
Eisold Retiring From Southern Pioneer After 48 years in the industry, Robert A. Eisold, Director of Agency Development for Southern Pioneer P&C Insurance Company, is retiring on June 1st. He has worked as a Claims Representative, Claims Manager, Marketing Representative and Marketing Manager. Bob is a 40-year associate member of Insurors of Tennessee. He joined Southern Pioneer in 2004 to open their Marketing Department, appointing most of the carrier’s Tennessee agencies. Hal Hyneman, President of Southern Pioneer commented “Bob has been an integral team member and we at Southern Pioneer are grateful to Bob for his dedicated service to our company and our agents. We will miss his industry insight and marketing expertise and we wish him well as he moves into the next phase of his life.”
West Bend Announces Funding of DAIS West Bend Mutual Insurance announced it will invest in the DAIS Agency Platform, a new software platform for indepen-
dent insurance agents that will help agencies address the key technology challenges they face in running their businesses. The DAIS Agency Platform will increase efficiency, helping eliminate the 10 to 15 points of waste that plague the insurance industry today while allowing agencies to focus on what they do best: serve their customers. The DAIS Agency Platform is being developed by Chicagobased DAIS Technology, in partnership with the Wisconsin, Minnesota, Tennessee, New York, Louisiana Independent Insurance Agents Associations. Members of partnering Big "I" associations will have free access to the DAIS Agency Platform, giving agents access to the same technologies that billion-dollar insurtechs use, while interfacing directly with their carrier partners through DAIS’s "Internet of Insurance." “West Bend believes that independent agencies are critical to the future of the insurance industry,” said Kevin Steiner, president and CEO of West Bend. “We’re proud that by funding the DAIS Agency Platform, we can work with our partner agencies to transform this industry and better serve our policyholders." “As a strong supporter of independent insurance agents and Insurors of Tennessee members, it’s no surprise that West Bend was an early adopter of the DAIS Internet of Insurance and is now helping to fund this initiative,” said Ashley Gold, CEO of the Insurors of Tennessee. “Insurors is excited to work with West Bend and DAIS in developing a platform that will
PROFESSIONAL LIABILITY BROKERAGE PROPERTY & CASUALTY GARAGE LIABILITY TRANSPORTATION SURETY PERSONAL LINES
(800) 666-5692 | JMWILSON.COM The Tennessee Insuror
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help our members by providing technology solutions agents need.”
knowledge, she is a resource to other underwriters and is a leader in her department.
French Stepping Down as Applied CEO; Rhodes Named Successor
Ihling has been with J.M. Wilson for 13 years and has 23 years of industry experience. Prior to her promotion, she was a Senior Brokerage Underwriter. She has a Michigan Property & Casualty License and a CISR designation.
Applied Systems has announced that CEO Reid French will be stepping down effective June 3. At the same time, it was announced that Taylor Rhodes has been named as the company's new CEO, effective the same day. French will continue to advise the company as a member of Applied’s board of directors. French came to Applied in 2011, after serving as chief operating officer at Intergraph Corporation, a global company at the forefront of geospatial and computer-aided design software. Early in his career, he was a strategic planner for the Walt Disney Company, and he managed investment banking transactions in the technology sector for Robinson-Humphrey. Rhodes joins Applied with more than two decades of technology and tech-enabled services leadership experience. Most recently, he served as CEO of SMS Assist, the leading cloud-based software platform for multi-site property management. Previously, he was CEO of Rackspace, where he led the Company’s growth from a cloud pioneer to an industry leader with more than two billion dollars in revenue.
Acuity Named as a Forbes "Best Employer" Acuity has been named to Forbes magazine's "America’s Best Mid-Size Employers" list. In developing its list, Forbes asked more than 50,000 people working for U.S. companies employing at least 1,000 people to rate their willingness to recommend those companies. Employees who took part in the survey were not contacted through their employers but, rather, did so through online panels that provided a representative sample of the U.S. workforce. “We are honored to be recognized among Forbes America’s Best Mid-Sized Employers and take pride in the great workplace we have built together,” said Ben Salzmann, Acuity President and CEO. “Being a great workplace benefits everyone who depends on Acuity—our employees and their families, independent agents, and the many individuals, families, businesses, and workers who count on us to protect what matters most to them.”
Dodson Named as Exec. Director for NetVu NetVU (Network of Vertafore Users) has named independent insurance agency channel leader Linda Dodson as executive director, announces Mike Foy, chairman of the NetVU executive board of directors. Dodson has more than 30 years of experience in the industry with roles on the agent and carrier side.
Blackstone Now a Majority Owner of Servpro Blackstone Group of New York City is now a majority owner in restoration franchiser Servpro. The leaders of Gallatin-based Servpro announced that Blackstone has recapitalized the Tennessee company, which runs more than 1,700 franchises in the U.S. and Canada, in a deal reports say likely exceeded $1B. “We are thrilled about this long-term investment from Blackstone and the strategic benefits its global platform can provide the company, our franchisees, and our customers,” Servpro CEO Rick Isaacson said in a statement. u
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J.M. Wilson Promotes Ihling to Executive Und. J.M. Wilson has announced the promotion of Sherry Ihling to the position of Executive Brokerage Underwriter. She is responsible for underwriting new and renewal accounts with a focus on environmental and allied health and maintains strong relationships with carriers and independent agents. With an increased level of product 44
Visit the E&O Risk Management website at www.independentagent.com/eohappens The Tennessee Insuror
Recruit. Assess. Train. Retain.
CREATE YOUR DREAM TEAM! Does the thought of hiring a new employee leave you overwhelmed? Are you seeing turnover, or posting a job, but just aren’t finding the “right” person? You’re not alone. According to the Agency Universe Study 44% of independent insurance agency owners say finding qualified new recruits is their top challenge. Find the right recruits with Big "I" Hires, a one-stop resource for independent insurance agencies to identify, hire and assess top-performing Producers and CSRs.
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Work Comp: 3 Ways to Add Value Tips for When "The Paper is The Paper" written by Jacquelyn Connelly, IA Magazine Sr. Editor
In workers compensation, it’s very easy to fall into the trap of complacency: Coverage expertise can start to seem less important when every policy is pretty much the same, especially when it’s easier than ever to get one for cheap. But any agent who’s had a workers' comp client poached understands that just like any other line of insurance, satisfied, well-protected work comp insureds require a serious investment of time and effort. “In workers comp, for the most part you’re dealing with a statutory policy – everyone gets the same piece of paper,” says Michael Bourque, president & CEO of The MEMIC Group. “But what comes with it? That’s the important side.” “At the end of the day, the things an employer needs to do to have a successful workers compensation program in the guaranteed cost market really haven’t changed very much in the last 15-20 years,” agrees Kevin Ring, lead workers compensation analyst at the Institute of WorkComp Professionals. “It’s a lot like basketball – being good at dribbling the basketball is no less important today than it was 60 years ago. The fundamentals are still the fundamentals. It’s just that most people aren’t good at the fundamentals.”
Consider a machine shop that’s been buying insurance from you for the last 15 years. “Maybe when I hired you as my agent, all my machining operation was done by hand – I was using grinders and hand-operated tools. But today, I’m using lasers and water jets and all this fancy computer-controlled equipment,” Ring points out. “If my agent doesn’t know that, and we keep the same classifications on the policy, then it’s very likely that I’m paying too much.”
2. The Premium Audit You need to understand the rules of the premium audit before you can help your clients accurately prepare for it. “Most premium audits are incorrect,” Ring says, “and most of those mistakes are the result of employers that don’t understand how to keep their records in a way that allows their audit to be correct.” Ring compares the problem to a freelancer who doesn’t accurately track their receipts and work expenses: “Your taxes are going to be wrong, and it’s not that TurboTax or H&R Block or your CPA did your taxes incorrectly based on the information you gave them. It’s that they’re working off a faulty set of data.”
Here are three discussion points to address with your workers comp clients in order to help them change that—and prove your value as an independent agent:
1. Classification How confident are you that your workers' comp clients’ businesses are classified correctly? Most states have at least 500 classifications they can apply to a business, according to Ring—and “seemingly small differences between classifications could create a large difference in premium,” he points out. Understanding the nuances between classifications can be a seriously tall order—the National Council on Compensation Insurance’s definition of a “clerical employee,” for example, spans nearly three pages, single-spaced and in 10-point font. And too often, “agents take for granted that the classifications that are currently on the policy are correct,” Ring says. “Knowing what’s correct and how the rules apply is a very big deal.” That’s especially true now that technology is changing the nature of how many businesses operate. “Businesses are not static, and nor are classifications,” Ring says. 46
The Tennessee Insuror
Upgrade your flood experience �it� t�ree li�le moves.
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“Our agency was approached by our Selective territory manager, Gregg Porter, to roll a portion of our ood business from another carrier to Selective. We were pleasantly surprised at how easy and seamless the whole process was. Gregg came into our office and basically did all the work for us. We had a high success rate and couldn’t be happier with Selective. Their customer service representatives and underwriters are very knowledgeable, friendly and always helpful. We are very satised with the whole experience and with Selective!” – IIABL Member Selective makes the transfer process easy and profitable for IIABA members. Selective does not use any third party administrators for our processing, which allows us to tailor a transfer plan that works for both you and your customers. Our team will work directly with your agency to collect the required underwriting documents. Then our rollover underwriting team will handle the processing, including sending out a letter to your customers letting them know of the change. We also provide you with a real-time rollover tracking report to help monitor the status of the transfer. Selective offers competitive commissions and transfer incentives for rollover business.
Selective began writing flood insurance in 1984 and has been the IIABA endorsed flood carrier since 2001. Point, click, roll and join us today!
The Tennessee Insuror
FLOOD.
To discuss transfer opportunities, or to place new �lood business with Selective, contact: Don Burke National Flood Marketing Manager Selective Insurance don.burke@selective.com (765) 577-0330
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3. Back-to-Work Programs Too many employers don’t have a process to follow when someone is injured, Ring says – and the result is that after sustaining an injury, the employee goes to their family doctor, who then tells them to take a few weeks off for rest and recovery. “Now I’ve been out of work, I’m collecting lost wages, I’m sitting at home watching TV, and during every commercial break, there’s an attorney ad,” Ring says. “In the vast majority of cases in what we see and what we do, attorneys tend to take what should have been a small issue and turn it into a big issue.” That’s not to say employees shouldn’t seek counsel when they need it. But for the most part, “insurance companies do a tremendous job in a global sense of taking care of injured employees,” Ring says. “Do people fall through the cracks? Absolutely. Are there situations that are so complicated and convoluted that a legal professional is helpful in navigating the process? Absolutely. But does your minor back strain from picking up a box the wrong way require an attorney and 1014 months of dealing with the insurance company to settle? Absolutely not.” If an employee is out of work for 12 weeks, they only have a 50/50 chance of ever returning to the job where they sustained their injury, according to Ring. When employers have a process in place that sends injured employees to occupational medical centers or at least a physician who understands how workers comp works, “that’s going to people get better faster, because what the research shows is that people get better faster when they’re at work,” he says. During a time (such as our current market) where unemployment is very low, “particularly when you’re talking about skilled labor and people who are difficult to replace,” Ring says, “you can’t afford to let someone just ride off into the sunset because they get stuck at home and can’t find their way back to work.” “You talk to any employer, and their biggest challenge is hiring and retaining enough experienced and qualified employees,” Bourque agrees. “In that kind of market, don’t you want to do your very best to make sure those people are well, and that if they get hurt, they’re able to get well and return to work as quickly as possible?”
YOU’RE INDEPENDENT. BUT YOU’RE NOT ALONE. A STRONG POLITICAL ACTION COMMITTEE SERVES AS A CONDUIT TO GIVE YOUR ASSOCIATION ACCESS TO THE MEMBERS OF THE TENNESSEE GENERAL ASSEMBLY. INSURORS THEN CUTS THROUGH THE RED TAPE TO GET YOUR VOICE HEARD. HELP US WORK FOR YOU “ON THE HILL.”
This article orignially appeared in IA magazine. About the Author Jacquelyn Connelly is the Senior Editor for the Big "I" IA magazine, and frequently writes and contributes content for coverage and technical insurance articles. She may be contacted at jacquelyn.connelly@ iiaba.net. u 48
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3,OOO,OOO individuals assessed The Tennessee Insuror
Meetings A Busy (and Hot) Summer is Just Ahead WINs Chattanooga Event Set for June 11 On Tuesday, June 11, Insurors will host its first Women in Insurance (WINS) event outside of Nashville when we travel to Chattanooga. The event will begin at 4:30 pm ET at The Granfalloon on East Main and will feature guest speaker Tiffany Eubanks-Saunders. Eubanks-Saunders will speak on, "Tips and Tricks for Financial Independence." She is a Senior Vice President at Bank of America Corporation, where she serves as the Tennessee Market Executive for the Private Bank business. Presented in cooperation with our sponsor, RT Specialty, this is a free event for female Insurors members. You can learn more about the event or register online now at https://www. insurors.org/IOT/Event_Display.aspx?EventKey=WINSCHATT
Town Halls Scheduled Throughout the State Now that session has ended, our Government Relations team will be compiling a legislative report of all significant bills and presenting it at several Town Hall meetings we’ll host across the state. We’ll be inviting legislators to attend and also discussing what legislative issues we can tackle next year. Please consider attending a meeting in your area, including these currently scheduled dates: July 25 – Insurors of Memphis • TBD July 30 – Johnson City • Southern Craft • 11:30-1 pm ET July 31 – Knoxville • Bearden Banquet Hall • 11:30-1 pm ET August 20 – Chattanooga • Scottie's on the River • 11:30-1 pm ET August 21 – Nashville • Richland Country Club • 11:30-1 pm CT Cost for the luncheon will be $20 for members. To register now, please visit https://www.insurors.org/IOT/Events/Event_ List/IOT/Events/IOTEvents_List.aspx and select your location.
Could your agency weather a data security breach? A full 80 percent of businesses that experience one don’t.1 The right insurance can keep your agency from becoming part of this startling statistic. Data breaches are common among smaller businesses, and responding to a breach is both costly and complex. You are obligated to protect the data you collect, and package policies are often not enough. Make sure your agency has the right coverage in place to protect you and your insureds. Contact your Insurors E&O Specialist, Stephen Holmes, CIC, CISR, for information on Data Breach coverage.
1. Privacy Rights Clearinghouse: Chronology of Data Breaches
Big "I" Leadership Conference 9/11-14 The Big "I" Fall Leadership Conference will be held September 11-14 at the The Westin Savannah Harbor Golf Resort & Spa. This event focuses on education, future leaders, Big "I" Hires, Diversity Council, the InVest program and more.
Stephen Holmes, CIC, CISR sholmes@insurors.org 615.515.2609
Please visit https://www.independentagent.com/Events/ Pages/Calendars/default.aspx# for more information. u The Tennessee Insuror
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The problem: A backlog of work.
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The Tennessee Insuror
Your customers deserve the best PROTECTION. RLI Personal Umbrella Policies are DIFFERENT.
Member Tips Are Your Employees Your Biggest Cyber Exposure? written by our partners at Evolve MGA Monte Carlo Analysis Reveals That Changing Employee Behavior Reduces the Risk of a Security Breach by 45% to 70% – Wombat Security Technologies How does employee training increase the quality of security for my company? The world of online business can bring the potential for scams and security risks. A single successful attack could seriously damage your business and negatively affect your customer relationships. Investing in end user training can significantly decrease the severity of an attack and eliminate major setbacks. Check out these crazy stats! • Almost 90% of cyber attacks are caused by human error or behavior.1 • While traditional security controls are partially effective in protecting data and systems, they cannot be 100% effective at preventing security risks.2 • 25% of data breaches in the U.S. are triggered by human error, including one’s failure to properly delete data from devices.3 • An investment in user awareness and training effectively changes behavior and quantifiably reduces security-related risks by 45% to 70%.2 Claims Example: Sony Pictures Entertainment The 2014 breach against Sony Pictures Entertainment began when attackers sent many of Sony's top executives fake Apple ID verification emails. Each email led to a phishing site that stole the target's credentials. Upon gaining access, the hackers used malware to cripple the company's computer networks and make off with 100 terabytes of data. The attack on Sony was confirmed human error. Sony lost an estimated $171 million while their website was shutdown for a month.4 Proactive employee training may have mitigated this loss.
They stand alone. RLI, A+ rated by A.M. Best, has over 30 years of experience providing affordable personal umbrella coverage - so your customers can protect their hard earned assets. CONTACT Stephen Holmes sholmes@insurors.org 615.515.2609
How Can I Make Sure My Client is Covered? Employers need to begin utilizing intentional phishing tools to help their employees understand the difference between a normal email and a malicious email. Combining this training with a quality cyber policy would help minimize the negative effects that result from employee error. Evolve provides this service for free to every one of our policy holders. Combining this training with a cyber policy will minimize the major costs associated with phishing! 1-per hiefexecutive.net; 2-per wombatsecurity.com; 3-per securis.com; 4- per https://www.wired.com/2011/05/sony-psn-hack-losses/?ct=t(EMAIL_CAMPAIGN_3_25_2019_17_13) u
Directory of Advertisers Advertiser
Phone
Website
Page
ACUITY (920) 458 - 9131 www.acuity.com 15 ABEN (877) 602 - 9877 insurors.aben.tv 27 AmTrust North America (877) 528 - 7878 www.amtrustfinancial.com/tnq1 6 Applied Underwriters (877) 234 - 4450 www.auw.com/us 2 Arlington/Roe (800) 878 - 9891 www.arlingtonroe.com 7 Bailey Special Risks, Inc. (800) 768 - 7475 www.bsrins.com 33 Berkley Southeast Insurance Group (615) 932 - 5508 www.berkleysig.com 16 Berkshire Hathaway Guard Insurance Cos. (800) 673 - 2465 x4567 www.guard.com/apply 24 Builders Mutual (800) 809 - 4859 www.buildersmutual.com 33 Caliper (609) 524 - 1200 www.iiaba.net/caliper 50 Donegal Insurance Group (800) 877 - 0600 www.donegalgroup.com 17 FCCI Insurance Group (800) 226 - 3224 www.fcci-group.com 30 Genesee General (800) 282 - 8755 www.geneseeins.com 22 Harford Mutual (800) 638 - 3669 www.harfordmutual.com 42 Imperial PFS (859) 630 - 7369 www.ipfs.com 39 INSBANK (866) 866 - 4268 www.insbanktn.com 11 InsurPACTN (800) 264 -1898 www.insurors.org 48 J.M. Wilson (800) 595 - 0063 www.jmwilson.com 43 Keystone Insurers Group (800) 416 - 5498 www.keystoneinsgrp.com 40 KNK Compliance Services (615) 375 - 7419 www.knkcompliance.com 19 Markel Specialty (800) 431 - 1270 www.markelcorp.com 24 The National Alliance (800) 633 - 2165 www.scic.com 34,55 National Security Group (800) 239 - 2358 x213 www.nationalsecuritygroup.com 22 Nationwide Insurance (423) 927 -2060 www.nationwide.com 20 Penn National Insurance (800) 395 - 0518 www.pennnationalinsurance.com 56 Preferred Property Programs (888) 549 - 2465 www.umbrellaprogram.com 32 RLI PUP (615) 515 - 2609 www.insurors.org 53 Securerisk (770) 723 - 8096 www.securerisk.com 38 StoneTrust Commerial Insurance Co. (800) 311 - 0997 www.stonetrustinsurance.com 32 Summit Holdings (800) 971 - 2667 www.summitholdings.com 13 Swiss Re Lawyer's Professional Liability (630) 213 - 9952 www.bigimarkets.com 36 Titan Web Marketing Solutions (615) 890 - 3600 www.titanwms.com 26 West Bend Mutual Insurance Co. (800) 236 - 5010 www.thesilverlining.com 9 Work at Home Vintage Experts (646) 807 - 4372 www.wahve.com 52
INSURORS LEGISLATIVE TOWN HALLS JULY 25 • MEMPHIS JULY 30 • JOHNSON CITY JULY 31 • KNOXVILLE AUGUST 20 • CHATTANOOGA AUGUST 21 • NASHVILLE
VISIT INSURORS.ORG FOR REGISTRATION AND MORE INFORMATION
T H E N A T I O NA L A L L I A N C E I N F O M A P
Map your career track and customize your learning experience by selecting the designations and course offerings that fit your needs.
Rubles CIC
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CISR Introductory Series
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T H E NA T I O NA L A LLI A NC E I NF O MA P
Map your career track and customize your learning experience by selecting the designations and course offerings that fit your needs.
Rubles CIC
CISR Introductory Series
CRM
Dynamic Series
WTH Seminars
CSRM CPRM
The Introductory Series is a good choice for those interested in finding out more about the industry and industry fundamentals. The Dynamics Series, offers career-changing sales training. Providing a variety of pertinent topics, the William T. Hold Seminars are invaluable for expanding your insurance knowledge. The Dynamics Series can be used to meet update requirements across the designations. WTH Seminars satisfy update requirements for CISRs and CSRMs.
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The Certified Insurance Service Representative (CISR) designation provides quality insurance education geared toward customer service representatives, account executives, servicing agents, new producers, and other professionals. The Certified School Risk Manager (CSRM) designation fills a need for quality risk management education for those associated with schools.
The Certified Insurance Counselor (CIC) provides an in-depth, practical approach to education for agents and other insurance practitioners. The Certified Risk Manager (CRM) designation is recognized as being the foremost education available in the field of risk management. The Certified Personal Risk Manager (CPRM) designation yields the best training for meeting the needs of an affluent clientele.
The James K. Ruble Seminars are advanced programs that offer a variety of specialty topics. CICs, CRMs, and CPRMs can meet their annual updates with a Ruble seminar.
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Dynamic Series
CRM
WTH Seminars
3
1 CSRM
2 The Introductory Series is a good choice for those interested in finding out more about the industry and industry fundamentals. The Dynamics Series, offers career-changing sales training. Providing a variety of pertinent topics, the William T. Hold Seminars are invaluable for expanding your insurance knowledge. The Dynamics Series can be used to meet update requirements across the designations. WTH Seminars satisfy update requirements for CISRs and CSRMs.
The Certified Insurance Service Representative (CISR) designation provides quality insurance education geared toward customer service representatives, account executives, servicing agents, new producers, and other professionals. The Certified School Risk Manager (CSRM) designation fills a need for quality risk management education for those associated with schools.
CPRM
3 The Certified Insurance Counselor (CIC) provides an in-depth, practical approach to education for agents and other insurance practitioners. The Certified Risk Manager (CRM) designation is recognized as being the foremost education available in the field of risk management. The Certified Personal Risk Manager (CPRM) designation yields the best training for meeting the needs of an affluent clientele.
The James K. Ruble Seminars are advanced programs that offer a variety of specialty topics. CICs, CRMs, and CPRMs can meet their annual updates with a Ruble seminar.
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VISIT SCIC.COM FOR MORE INFORMATION OR INSURORS.ORG TO REGISTER FOR CLASSES NOW
Helping people feel secure.
Since 1919. A group of Pennsylvania farmers founded our company in 1919 to provide affordable workers’ compensation insurance.
Helping Today, Penn National Insurance sells property-casualty insurance in 11 states. Just like those farmers who envisioned an insurance company that could meet their needs better than any existing insurance carrier, we look to the future of our company and make decisions that center around:
people feel secure.
All with one focus in mind: to help people feel secure and make life better when bad things happen.
• Providing superior customer experience • Responsive product offerings to fit the changing market needs • Staying financially strong
PennNationalInsurance.com