The Tennessee Insuror Nov/Dec '20

THE TENNESSEE

INSUROR November/December 20 Volume 31 | Number 6

The Agent's Agent

New Insurors CEO Rep. Ron Travis will Bring an Agent's Mindset Back to the Association

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Getting to Know Our New Senator

EBITDA... What You Need to Know 2020 National Alliance Conferees

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The Tennessee Insuror

contents

THE TENNESSEE

INSUROR Vol. XXXI, Number 6 November/December 2020

features

Phone (615) 385-1898 Toll Free: 1-800-264-1898 Email: info@insurors.org Editor: Ron Travis Publisher: Daniel D. Smith Jr., CAE

4 The Agent's Agent INSURORS OFFICERS

President .................................................................... Bob McIntire Immediate Past President .............................................. Joe Hunt IIABA National Director .............................. Cindi Gresham, CIC VP, Region I and President Elect ................... Norfleet Anthony Vice President, Region II .................... Matt Swallows, CIC, CRM Vice President, Region III ........... Kym Clevenger, CPCU, CACW Treasurer/Secretary ............................. John McInturff III, ARM Director, Region I .................................. S. Keith Phelps, CIC, CRM Director, Region I ......................................... Richard Whitley, CIC Director, Region I ........................................... Jamie Williams, CIC Director, Region II ............................................ John McCord, CIC Director, Region II ..................................................... Taylor Porch Director, Region II .................................................... Reno Benson Director, Region III ................................................. Mark Slater Jr. Director, Region III ...................................... Brandon Clarke, CIC Director, Region III ........ Cindy Widener Winn, CPA, CIC, CBIA Director, At-Large .......................................... Laura Ann Howell Director,. Young Agents ............................................... Cy Young

ADVERTISING

New Insurors CEO Rep. Ron Travis...

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Getting to Know Our New Senator

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EBITDA... What You Need to Know

14 2020 National Alliance Conferees

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Moving on From Internet Explorer

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

Senator-elect Bill Hagerty Talks with Our Own Jim Layman

From Your President

What A Year!

23

From Your IIABA National Director

25

From Your CEO

29

Education Calendar

31

Layman's Terms

37

Company Spotlight

39

Broker Spotlight

How the Big "I" is Responding to the Election Answering the "Why?" and the "How?"

Advocacy Update: Initial Election Results and Impacts Encova Insurance Cowbell Cyber

51 Meetings 53

Member Tips

Technology Technicalities

3

The Agent's Agent New Insurors CEO Rep. Ron Travis will Bring an Agent's Mindset Back to the Association

Ron and his wife Laura enjoying time on their farm in Dayton

"I love the insurance industry," is a statement we've heard multiple times from Ron Travis since he accepted the role as CEO of Insurors of Tennessee. It's a statement you can believe too, as Ron has spent over 35 years working for this industry as an agency owner and as a State Legislator serving on insurance committees. But insurance isn't his only love, and as you get to know him you'll quickly learn that after his family, the state of Tennessee ranks high on the list as well.

Building an agency from scratch was difficult business, and he'll tell you that those first few years were tough. "Every day I'd open up the phone book and start calling," he recalls. "You might call seven people and get six 'nos', but that seventh one would let you quote it." With his sales skills, efforts in the community, hard work and sheer determination, Ron was able to begin building a solid book of business. He hit the $1 million mark after 5 years in business.

A native of Dayton, Ron grew up working on his Papaw's farm hauling hay and cleaning the barn. It instilled a sense of hard work in him from an early age, which would serve him well in life. "It also instilled in me that I didn't want to be a farmer," jokes Ron. His parents, Doc and Jo Travis, worked hard as well – Doc as director of personnel for Robinson Manufacturing, and Jo as a purchasing agent for TVA. Ron and his brothers, Tim and Mark, would also find time to play, and baseball became another love of his. He would go on to play the sport at Rhea County High School, where he was also on the golf team and was later voted as "Mr. Rhea County" by his peers.

After high school, Ron attended Tennessee Tech and then went directly into the workforce. He started out his professional life at La-Z-Boy Manufacturing in 1974. He worked his way up to a supervisor's role before finding his true calling as an insurance agent. "My uncle Jack was an insurance agent and told me about an opportunity with Nationwide Insurance to open a location in Rhea County. I've always been a 'salesman', so I jumped at the chance," Ron says. So, in 1983, he opened a brand new agency with Nationwide and got to work on his new career.

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Ron and Laura with their friends Gov. Bill Lee and former Gov. Bill Haslam

Over time, he grew the agency even further, eventually opening six locations across East Tennessee and writing more than $10 million in direct written premium. He is a former Nationwide Insurance President's and Champion's conference qualifier in multiple years, and helped develop a staff that was churning out business and helping clients protect their homes, families and businesses.

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Building Professionally and Personally While working to build his agency and his career, Ron also had a big personal life change. On one fateful day in 1988, a pretty young lady named Laura visited his agency to buy renter's insurance. It didn't take long for Laura and Ron to hit it off, and they began dating immediately. Just a year later, the two got married, and in 1990 they had their first child together – Jessica. Ron also had a son named Jared, but he unfortunately passed away in 1994. The family believes Jared is still part of their lives and is a cherished member of their family.

plan and began to campaign across the four counties in the District. The biggest hurdle was the Republican primary election, and as the results started rolling in that August, Ron was just a few hundred votes behind. But then the final tallies were completed, and he had edged out his opponent by just 105 votes.

In 1995, Ron and Laura had their second daughter, Rachel.

The family was living in Dayton during all this and decided to make another big life change when they purchased some of the Travis family's farm land that same year.

Between two kids, the insurance agency and the farm – there was never a dull moment. Jessica was doing cheerleading at Rhea County High School and would later go on to cheer at Tennessee Tech. Rachel was playing volleyball at The Baylor School in Chattanooga and played at Tennessee Tech as well.

Laura was busy working with Ron at the agency, and after becoming licensed she worked a "team approach" with Ron to build sales. She was also handling the payroll, accounting and operations on top of being a busy Mom.

Ron speaking to the National Council of Insurance Legislators

But even with all that on their plate, the family continued to find success, growing the agencies and working on the farm.

And that was good, because another big decision would soon add even more to their workload.

Running for Office In 2012, Ron was intrigued by another opportunity. He had been working with his daughter Jessica at the agency and decided to inquire about what it took to run for office. They went to local election commission and he decided to request the paperwork to run for State Representative for District 31 (Bledsoe, Rhea, Sequatchie and part of Roane Counties). "I was just interested in giving back to the community I have lived in and loved for so long," explains Ron. After talking with Laura and giving it some more consideration, they put together a The Tennessee Insuror

Ron thanking members of our military for their service

Since that election, and in subsequent races, his popularity among constituents has grown. In the most recent 2020 race, Ron garnered almost 83% of the vote in the general election.

During his tenure, he has served on multiple Committees – including Chairman of Insurance and Banking Committee and the Fiscal Review Committee. He was the Tennessee Development District Association’s “Legislator of the Year” in 2014 and 2017 and the Tennessee Chamber’s “Champion of Commerce” Award winner in 2014.

"I ran because I thought we could make a difference – and we have." says Ron, "I'm proud of the work we've done and continue to do for our District and the State." Laura has also been a big part of that work. Influenced by the former Tennessee First Lady Crissy Haslam, she created and implemented the Let's Tour 31 program to give their constituents personal tours of the Capitol, State Museum, and the Governor's Executive Residence. The program has resulted in 80 tours over Ron's eight years in office – a State record.

Big Plans for Insurors of Tennessee Ron has started strong out of the gate with Insurors, reaching out to members and trying to learn as much as possible about how we are helping – and can better help – them succeed with their agencies. Some of his focus in 2021 will include identifying programs and partnerships that can help drive that success. He also wants to bring his agency experience into the decision-making in his role as CEO. "I think that having built, bought and sold insurance agencies helps give me perspective on how Insurors can provide additional value to our agency members."

If you have thoughts or suggestions – Ron wants to hear them. If you have questions or concerns – he wants to hear those too. He is well aware of the legacy that has been built 5

at Insurors of Tennessee over the years, and he is heavily invested in adding to that legacy. Especially after we weather this Pandemic and the other challenges of 2020.

“It’s a great honor to be joining Insurors of Tennessee,” adds Ron, “I am grateful for the opportunity to work for such a strong organization, alongside Tennessee’s finest agents, brokers and industry professionals. I am optimistic about the future of our Association and look forward to the days ahead.”

ra even purchased a condo in Cookeville so that they could spend some time closer to the girls and their grandchildren.

They now have four of those grandchildren – Alley Jo Shannon, Beckham Colby Shannon, Finley Scout Shannon and Hadley Jane Travis. They also have fun with the family dog, Gus, and enjoy having gatherings with everyone on the farm and on the river.

In addition, Ron's mother Jo is still alive and well and has property adjacent to their farm and running up to the Tennessee River. Laura's parents are also doing well and living at their home in Muscle Shoals, Alabama (and yes, she does say "Roll Tide"). But now they have additional family members – the members and staff of Insurors of Tennessee. "This industry and this organization are now part of my love for insurance." adds Ron, "We've got to keep giving back and show Tennessee how important independent agents are to our communities."

Ron is going to be working hard to help Insurors achieve that goal, and you can believe he's going to love helping do it.

Reach Out to Ron Ron and Laura cherishing time with their daughters and grandchildren

A Family Effort Ron and his family are a close-knit group, and he and Lau-

Want to welcome Ron or discuss your thoughts and ideas for the Association? Feel free to reach out to him at rtravis@ insurors.org or call his direct line at 615.515.2606. Let's help him help us and work together towards our goals. He'd love to hear from you! u

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Getting to Know Our New Senator Senator-elect Bill Hagerty Talks with Our Own Director of Government Relations Jim Layman

Gallatin-native Bill Hagerty will be the next U.S. Senator from Tennessee. The former Ambassador to Japan easily won the race in Tennessee, garnering over 60% of the vote. He graciously gave us his time to provide some info for The Insuror.

Jim: Can you tell us a little about your background?

Where you’re from, your family, quick overview of your career?

Sen.-elect Hagerty: Growing up in Sumner County, my mom was a schoolteacher, and my dad worked road construction.

We had a small farm there. As a young boy, I learned the value of hard work and strong family values.

Although my father did not graduate college, he worked to make sure I did. With a strong academic foundation, I began my career in business.

From 2011 to 2014, I served as Commissioner of the Tennessee Department of Economic and Community Development, before serving President Trump as his Tennessee Victory Chair, senior transition leader and then as his Ambassador to Japan.

Late this Spring, I was called back to serve again as a member of the White House Economic Recovery task force.

My wife Chrissy and I are blessed to have four children, and we are raising them with solid Tennessee conservative values.

Jim: What made you want to run for U.S. Senate?

Sen.-elect Hagerty: As I saw the mounting challenges our nation increasingly confronts within our own political system and the threats that continue to confront our nation from our foreign adversaries, my wife Chrissy and I decided it was time to undertake a new challenge to serve. With President Trump’s blessing and endorsement – I am seeking to fight for Tennesseans in the United States Senate. Most important, I want to ensure my children – and all children in Tennessee – enjoy the freedom and opportunity that have made America the most exceptional country in the world.

need to bring our supply chains back to the United States to create more jobs for Americans and grow our economy.

Jim: What role can the insurance industry play in helping the nation recover from the impact of COVID-19?

Sen.-elect Hagerty: The independent insurance industry is a great resource to Tennesseans as they recover both from the health and economic toll of COVID-19. They can provide the most cost-effective and beneficial choices for their clients.

And here in Tennessee, we’ve suffered two bouts of damaging tornadoes. Our insurance industry has and will continue to step up to help those affected.

Jim: What role do you believe trade associations play in the development of policy in Washington and at the state level?

Sen.-elect Hagerty: Trade associations gather information from their members and provide valuable insight for members of Congress and state representatives - ensuring their voices are heard. As Tennessee’s chief economic leader, trade associations advanced our understanding of the potential impact of a given policy issue. In the Senate, I will continue to listen to trade associations like Insurors of Tennessee so I can better serve Tennesseans.

Newly elected Senator Bill Hagerty is ready to work hard for Tennesseans

Jim: What further efforts are needed to defeat COVID-19 and fuel our economic recovery? What efforts are you most excited about?

Sen.-elect Hagerty: As Tennessee’s chief economic leader as we came out of the last recession, I understand what it takes to stimulate our economy and support small businesses. We 8

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EBITDA… What You Need to Know written by Chris Burand, Burand & Associates, LLC sponsored by our partners at I was recently reviewing an article from 2005 by Hales & Company regarding how many sellers leave a lot of money on the table because the seller does not understand EBITDA. That point was true back then and it is even more true now. Some points sellers need to know: 1. EBITDA stands for Earnings Before Interest, Taxes, Depreciation and Amortization.

2. The EBITDA valuation methodology is simple, overly so as applied by many. It works like this: Agency’s EBITDA x EBITDA Multiple = Value. For example, if the EBITDA is $100,000 and the EBITDA multiple is 6, the value equals $600,000.

3. The EBITDA multiple ONLY applies to the book of business not the stock or other assets.

4. Hales’ first point was perfect. Too many sellers do not understand that EBITDA is a pro forma number. It is not the agency’s actual EBITDA. Pro forma EBITDA is not always materially higher than actual EBITDA but it usually is. If the seller does not know this, they likely will sell their agency for too little. For example, the actual EBITDA might be $80,000 but the pro forma EBITDA may be $100,000. This $20,000 difference is a $120,000 difference in price.

If you do not think buyers will not take advantage of your lack of knowledge, you should really think again.

5. EBITDA is based on the BUYER’s version of the seller’s pro forma, not the seller’s version of their pro forma! This is more of a problem with small agencies. The owner thinks that because they take their compensation below the bottom line, and their compensation may be as much as 50% of revenue, that their EBITDA is 50%. Of course this thought process is totally wrong.

First, a pro forma adjusts for compensation taken below the bottom line. Second, just because it appears on the seller’s income statement as though the principal works for free, the buyer has to pay someone to work at least some of the accounts. This is one of those situations in which the buyer’s pro forma EBITDA will be less than the incorrectly calculated seller’s EBITDA. A lot of seller’s create considerable frustration, damage their reputations, and even damage the value of their agencies because they do not understand this key point.

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On the other hand, because the buyer’s pro forma EBITDA is the one that counts, a seller will benefit themselves by calculating the economies of scale the buyer will achieve on their income statement. For example, they may not have to pay for a receptionist or a bookkeeper and they may be willing to fire the nonperforming relative.

6. EBITDA is directly related to the multiple of sales. For example, an agency with a pro-forma EBITDA of 15% and a value of 6 times EBITDA would have a book of business value of approximately of .9 times revenue. Alternatively, an agency with a multiple of revenue value of 1.25 times and an EBITDA of 25% would have a book of business value of 5 times EBITDA. EBITDA just sounds more sophisticated.

I hear many unsophisticated agency owners talking about EBITDA multiples and because a buyer has approached them using this methodology, they are feeling good about this more “sophisticated” way to value agencies. At its heart, it is just as simplistic as the multiple of revenue methodology is.

7. EBITDA lends itself to the gambling game of Monte. What often occurs is the buyer says they will pay, for example, 6 times EBITDA but the earnout brings the final price to 10 times EBITDA. However, the final price is highly unlikely to ever be near 10 times EBITDA. Even the biggest buyers of agencies suggest they do not plan on making the full payment based on my analysis of the publicly traded brokers’ annual reports. Under new accounting rules, they have to estimate how much of the earnout they expect to pay and many are telling the S.E.C. they are not expecting to pay anywhere close to the full earnout.

Additionally, the multiple likely stays the same throughout.

It doesn’t go from 6 to 10. This is important. The most common goal for each year is the original multiple times that year’s EBITDA. At the end of say three years of achieving all the goals and earning all the bonuses at 6 times each respective year’s EBITDA, the buyer will often add all the bonuses together and then divide by the original EBITDA. Of course that EBITDA is a much smaller denominator which thereby greatly increases the EBITDA multiple. But this is apples and oranges. The denominator should be the same as that year’s bonus.

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For example, and as displayed using this chart, using a multiple of 6 over three years:

EBITDA

Times Annual Earnout Multiple (6/3 years)

Earnout Amount

Actual EBITDA Multiple

Year 1

$100,000

2

$200,000

6

Year 2

$110,000

2

$220,000

6

Year 3

$120,000

2

$240,000

6

TOTAL

$660,000

The buyer will tell the seller they are getting a higher multiple of 6.6 ($660,000/$100,000) by using the first year’s EBITDA as the denominator. The real denominator should be each year’s EBITDA which still results in a multiple of 6. More than one seller has fallen hard for this "shell game" of moving denominators.

Moving Parts The EBITDA methodology is not that sophisticated but it has many more moving parts. In the hands of a skilled buyer, these

moving parts can be used to convince an inadequately advised seller they are getting a good deal when in reality, they are getting a lousy deal.

On the other hand, I see too many sellers demanding far too much for their agencies because they think they understand EBITDA methodology when they do not understand it at all.

Going back to #1, they don’t know what EBITDA really means.

Some confuse earnings and revenue. Knowledge is power and money. If you’re selling, understand EBITDA really well or hire an adviser that does.

About the Author Chris Burand is president of Burand & Associates, LLC, an insurance agency consulting firm. He is a widelypublished insurance industry author. His valuable articles are published regularly in numerous trade publications, including the Insurance Journal. Chris was also the "For the Manager" monthly columnist for American Agent & Broker for 12 years. Readers may contact Chris at 719.485.3868 or by e-mail at chris@burand-associates.com.

NOTE: None of the materials in this article should be construed as offering legal advice, and the specific advice of legal counsel is recommended before acting on any matter discussed in this article. Regulated individuals/entities should also ensure that they comply with all applicable laws, rules, and regulations. u

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2020 National Alliance Conferees 22 Insurors Members Earn Their CIC and CISR Designations

Each year, we recognize the work our members have done to further their education in our industry. Many members choose to do so by completing courses established by our partners at The National Alliance for Insurance Education and Research. Completing these course requirements can earn them their designations, including the Certified Insurance Counselor (CIC) and Certified Insurance Service Representative (CISR) designations, which these 22 insurance professionals earned this year:

Certified Insurance Counselors Connor Aldridge, CIC McGriff Insurance • Knoxville Connor has been in insurance for three years and graduated with a risk management degree in 2018 after two summer internships with Travelers. After graduation, Ihe briefly worked with RT Specialty and then moved to McGriff at the beginning of 2019. He now works as a commercial lines marketer for the agency.

Owen Bagley, CIC Bagley & Bagley Insurance • Fayetteville Owen has 11 years of experience in the industry and is currently a partner with the agency. He graduated from the University of Tennessee at Knoxville in 2006 with a Bachelor's degree and previously worked in IT management. He joined the agency in 2009 as commercial agent and purchased part of the operation in 2018.

Anderson McLaughlin, CIC HUB International • Nashville Anderson has been in the industry for three years and is currently a commercial insurance advisor for HUB Mid-South. He earned his Bachelor's degree in Risk Management & Insurance from the University of Georgia in 2012. He previously worked in the entertainment and retail industries while living in New York City, but joined the insurance world in 2017. He now works to help businesses in Media, Entertainment/Hospitality, Real Estate, Private Equity and Healthcare. He also serves clients by leveraging HUB's Group Benefits Department and Private Client Unit.

A doctoral graduate from the University of Connecticut, Kurt started his career with Bouvier Insurance in 2014 with a focus on HOA and condominium association master policies.

Kurt expanded the agency out of New England, opening the Nashville office in the Fall of 2016. Continuing with his concentration on community associations throughout Tennessee, Kurt was awarded the Community Insurance and Risk Management Specialist (CIRMS) designation through the Community Associations Institute (CAI), and is one of only two agents in Tennessee to do so. Kurt currently sits as the Board Treasurer for the Tennessee Chapter of CAI. He is also involved with the Foundation of Community Association Research, monitoring trends and changes to the industry, and helping to protect and foster our local communities at the state and national levels.

Stuart Oakes, CIC, CRIS TIS Insurance Services, Inc. • Knoxville Stuart is a 13 year veteran of the industry and graduated from the University of Tennessee at Knoxville in 2006. He joined TIS in 2007 and now serves as the president of construction services. He previously served as Young Agents chair for Insurors and was the Young Agent of the Year in 2011. In 2015, he was awarded the Jim Alexander Service Award. This year, he was named to Knoxville Insurance Journal's "40 Under 40" class.

He has also taught construction risk management courses at UT in the construction science program.

Drew Powell, CIC Martin & Zerfoss, Inc. • Nashville Drew has been in the industry for five years and currently serves as a risk management advisor for the agency. He graduated from MTSU’s Risk Management & Insurance program in 2015 and previously worked on the carrier side of the business.

Michelle Spradlin, CIC Southern States Insurance • Talbott Michael Tighe, CIC Chubb • Nashville

Julian Mangrum, CIC Lipscomb & Pitts Insurance • Memphis

Laurie Vann, CIC Willis Processing Services • Nashville

Kurt Lillie, CIC, CIRMS, MLIS, CLCS, EBP Bouvier Insurance • Nashville

Virginia Wagner, CIC Propel Insurance • Knoxville

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The Tennessee Insuror

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

3

4

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

Dynamic Series

CRM

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.

1

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.

2

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.

2

VISIT SCIC.COM FOR MORE INFORMATION OR INSURORS.ORG TO REGISTER FOR CLASSES NOW

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Whitney Wright, CIC, CISR Lipscomb & Pitts Insurance • Memphis Whitney is a 10 year veteran of the industry and currently works as a commercial lines senior account associate. She graduated from Hernando High School and attended Mississippi State University and the University of Mississippi. She started her insurance career with Harris, Madden and Powell in 2010 and has worked with Lipscomb & Pitts since 2014. She also earned her CISR designation in 2015.

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Stefanie Cooley, CISR Insurance Group of America • Franklin

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1

Kayla Harkness, CISR Clay & Land Insurance • Memphis Ashley Iroler, CISR 7 Insurance • Powell Lisa Potter, CISR RSS Insurance • Chattanooga Lisa has 4 years of experience in the insurance industry, and currently serves as a commercial account manager. She earned her Bachelor's degree in Urban and Regional Planning from Alabama A&M University. She worked to acquire her P&C license while living in Alabama, and then moved to Tennessee to work for State Farm. She then acquired her L&H license and joined RSS in 2018.

Christy Ritzhaupt, CISR Insurance Incorporated • Cleveland Laura Short, CISR Porch-Stribling-Webb, Inc. • Waverly Conner Skufca, CISR Commercial Insurance Associates • Nashville Peggy Wood, CISR Sunstar/Claiborne & Taylor Insurance • Murfreesboro Congratulations to all these recipients on the completion of their hard work. If you have interest in learning more about these or any of our designation programs offered in partnership with The National Alliance, please visit www.scic.com.

You may also check out our 2021 Education Schedule, including currently scheduled in-person classes, available now on www.insurors.org. u 16

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17 4/3/20 9:27 AM

Future Leaders Spotlight

presented by

Mac Hill • McDaniel-Whitley, Inc. - Memphis McKenzie "Mac" Hill grew up in the Memphis area in the 90s with three sisters.

Maybe having a house full of sisters is the reason he stayed outside playing most of the time as a child. He says that helped shape him into who he is today, still very involved in fitness and sports.

He played linebacker at the University of Memphis under Mac Hill of McDanielCoach Fuente and left around Whitley the end of Norvell’s first year.

After leaving football behind, he became a personal trainer at Orange Theory Fitness for his last couple of years in college.

He is now two years out of college and recently engaged, and he has been a Christian for about 20 years now. Mac says he strives to put Christ first in everything he does.

About a week later, I got a call from my current boss and he asked me if I wanted to interview for this position. I had a couple of interviews and then I was hired within three weeks. Come to find out, the company I declined the job from referred me to my current boss. I absolutely love my job now, so it really was a God thing how it all happened. I have been here about a year and a half now, and I really could not picture being in another career.

The Insuror: Can you tell us a little about your current job title and responsibilities?

The Insuror: Is there any advice you could offer Young Agents or others in the industry to achieve success in their careers?

Mac: Right now, I am technically a Commercial Lines Account Executive. However, that is just a fancy word for a commercial insurance agent. My job responsibilities consist of calling on commercial accounts, servicing existing accounts, and maintaining relationships with everyone. I hope to one day work my way up into agency leadership.

The Insuror: What can you tell us about your educational background?

Mac: I started off Kindergarten at Cordova Elementary School in the Memphis area. I then moved to a small christian school in the Cordova area called Evangelical Christian School (ECS).

This school molded me into the person I am today. I graduated top 10% of my class and then went on to the University of Memphis, where I got my Bachelor's degree in Accounting. I am currently in the process of obtaining my CIC designation.

The Insuror: How and why did you get your career in the insurance industry started?

Mac: It is a funny story actually. I started off as a staff accountant at a big corporation, but did not enjoy that at all. Within six months, I started going on job interviews whenever I could. I eventually had a couple of interviews to be a Financial Advisor at a company here in Memphis. For some reason, I just had a strong feeling not to take the job, so I declined very respectfully.

18

The Insuror: Do you have any influences/role models in the industry?

Mac: As cliché as it is to say, both of the owners of my company I work for are my role models. They are some of the best insurance agents I know. They have put so much time into developing me, I cannot thank them enough. They will never realize how grateful I am for them. I am also very thankful for the account managers my agency has, they have been an integral part of my development as an agent.

Mac: I am not one to be giving advice – I am still very young in my career and have a lot to learn. However, there are a couple things that I have noticed that have helped me start to grow and develop faster. The main one is to build relationships. You never know when you will get an opportunity. The next thing is – and I still struggle with this sometimes – don't be afraid to walk into anybody’s office and talk to them.

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?

Mac: I think relationships with carriers come pretty natural.

You can tell which underwriters are willing to help you out here and there and which ones are not willing to help out ever. It also depends on which underwriters are willing to build a relationship with you outside of insurance talk.

The Insuror: Thank you for giving us your time, Jordan, we appreciate it and wish you continued success.

Mac: I want to thank Berkley Southeast and Insurors because I really appreciate the opportunity. u1 The Tennessee Insuror

Young Agents '21

Are you making the Right Choice for their Business?

Upcoming Events and Information

Our Young Agents Committee strives to offer young insurance professionals with opportunities to network and develop in the industry. We accomplish this by hosting receptions, classes and volunteer opportunities designed to meet the needs of insurance professionals under 40 years of age across Tennessee. Over 500 Insurors members participate in the Young Agents program in some fashion. We are excited to work on our 2021 events and activities and hope we can return to in-person functions. If you'd like to see specific events or have suggestions on topics please let us know.

2021 Young Agents Committee

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

Derek Wright - Chair Agent/Principal Graham & Cook Insurance Knoxville derek@grahamandcook.com Cy Young - Immediate Past Chair President Young-Hughes Insurance Alamo cy@younghughesinsurance.com

* All classes may not be available in all states.

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

Want to know more?

Forbes Harris - Region I Producer Harris, Madden & Powell Insurance Memphis fharris@hmpins.com Matt Felgendreher - Region II Executive Vice President W.C. Dillon Company & Insight Risk Management Nashville mfelgendreher@irmllc.com John Brock - Region III Agent/Partner Brock Insurance Agency Chattanooga john@brockins.com For more info, or for any questions on the Young Agents Committee and its programs, please contact Nick Weber at nweber@insurors.org or Abby Wheeler at awheeler@insurors. org or call us at 1.800.264.1898. u The Tennessee Insuror

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

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

Your Back-in-Business Insurance Company®

berkleysig.com

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Berkley Southeast Insurance Group is a member company of W. R. Berkley Corporation, whose insurance company subsidiaries are rated A+ (Superior) by A.M.Best.

Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued.

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The Tennessee Insuror

From Your President What A Year!

It’s hard to believe we are closing the books on 2020 already. I, for one, will be glad to see 2020 come to an end and look forward to what 2021 has in store for all of us. This year has been one of ups and downs for your Association as well and I’m happy to report that we are ending 2020 on a very positive note.

We are very fortunate to have Ron Travis join us as our new CEO effective November 16, 2020.

Hopefully you enjoyed reading about him and his background in this issue. If you have not heard from Ron yet – sit tight – you will. Ron has set a goal for himself of making a personal contact with every member of our Association by the end of the second quarter. I have little doubt that Ron will achieve his goal – this guy is like the Energizer bunny.

Ron has hit the ground running and has some great thoughts on how we can make our Association even stronger and engage the membership even more. With him at the helm, I think we will be positioned well for success in 2021 and beyond.

Government Relations Success I’d like to give a big congratulations to our Director of Government Relations, Jim Layman.

InsurPACTN had the highest win rate – at 99% – among big donors in the last election cycle.

Way to go Jim, our Government Relations Committee and all those who contributed to InsurPACTN. Without your support we would not have the impact we are making today. Obviously, Jim knows how to pick a winner, and I understand he is available for weekend trips to the horse races if interested.

Looking Ahead As for next year we really don’t know what to expect. It would appear that we will start the year the same way we are ending 2020. We are currently evaluating the first quarter CE offerings and meetings in an effort to determine the best way to proceed. As always, your safety is our number one concern, we will not do anything to jeopardize that.

The Tennessee Insuror

We will do our best to return to in-person events as soon as it is responsible to do so.

Please feel free to give us your thoughts on when and if you would be comfortable returning to in-person events, and we'll continue to monitor everything closely.

Thankful for Our Leaders I’d also like to thank the 2020 Board of Directors for their contributions this year. They have gone well above and beyond what is typically asked of a Director and I appreciate their contributions to this Association more than they will ever know. We are very blessed to have these volunteers give their time to support this organization.

In particular, I would like to recognize Cy Young, Laura Ann Howell, Mark Slater, John McCord and Keith Phelps, whose terms are expiring at the end of this year. Thanks again for all you've done to bring continued success to Insurors of Tennessee.

Finally, on behalf of the Executive Committee I would like to thank the Nominating Committee for their vote of confidence in extending the terms of those serving on the Executive Committee for another year. Although I never imagined serving two years in this role, I think the consistency in our volunteer leadership that this will bring will help us weather the storm of the pandemic.

“...I think the consistency in our volunteer leadership that this will bring will help us weather the storm of the pandemic. ”

We look forward to working with Ron and the entire Insurors staff to take our Association to the next level and make it the best it can be.

This organization is very important to me, and I can assure you that we will strive to continue putting the needs and interests of our members first.

I hope everyone has a very Merry Christmas and Happy New Year. Please stay healthy and safe, and as always, if you have any questions, comments or suggestions please don’t hesitate to reach out to me at bmcintire@mcintireins. com. I look forward to working with you all in 2021. u

Bob McIntire 21

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The Tennessee Insuror

From Your IIABA National Director How the Big "I" is Responding to the Election As you can imagine, our Federal Government Relations team at Big "I" have had a busy couple of months. With party control apparently transitioning in the White House, we must make sure our strategy is in line with the changes that a Biden administration may make as priorities. Let's take a look at this update from Wyatt Stewart, Big “I" assistant vice president of federal government affairs.

Election Results Will Shape Agenda What impact will the election result have on the big issues facing independent agents? In the short term, negotiations on a COVID-19 relief package will continue. And with control of the Senate still undecided but leaning towards Republicans, this relief will be smaller than Democrats had hoped for under the “blue wave" scenario.

The two parties will have to begin a serious negotiation to find some sort of compromise and it is too early to tell whether a deal could be struck in the lame duck session of Congress – where some lawmakers return for this session who will not be in the next Congress – or if it will have to wait until 2021, if at all.

In the U.S. House of Representatives, Democrats will maintain control, but saw their majority cut in half and will now have to govern with approximately ten seats separating the two parties.

Control of the U.S. Senate will be decided by two runoffs in Georgia on January 5, 2021. Currently Republicans lead 50-48. If Republicans win one or both of these runoffs, they will maintain control of the Senate, whereas if Democrats win both runoffs, Democrats will hold both chambers of Congress and the White House.

Looking at this from a non-partisan point of view, maintaining divided control of Congress is in the best interest of independent agents and small business.

Although a COVID-19 relief deal remains possible, gridlock is a distinct possibility when it comes to some of the candidates' biggest campaign issues. A Republican-controlled SenThe Tennessee Insuror

ate would keep a President Biden and Senate Democrats from getting rid of the legislative filibuster, which means that Biden and Democrats would find it nearly impossible to enact some of the policies that would be most harmful to small businesses, such as independent insurance agencies.

The employer-sponsored health care system looks to be safe for now with Senate Republicans able to block any type of Medicare-for-All or public option type plan. With a divided government, more modest changes to health care policy, such as ending surprise billing, remains a distinct possibility.

Additionally, a Republican-led Senate would be able to largely protect the Trump tax cuts from any Democratic repeal efforts, even if Biden were to take the Presidency. With repeal potentially off the table and the 20% small business tax deduction scheduled to expire in 2025, future elections will play a crucial role in eventually deciding its fate. Again, all of this may depend on those two crucial Senate seats in Georgia to be decided on January 5, 2021.

Given these factors, the Big “I” and its government affairs team have decided to raise money for Republican Senators David Perdue and Kelly Loeffler in Georgia, as they fight to retain their seats and maintain divided control of Congress.

A joint fundraising committee (money split equally between the campaigns) exists to support their candidacies, and we are encouraging our agent leaders to support it. All contributions are valuable and appreciated. To contribute, visit https://bit.ly/2Ki85Rz OR Mail a check (personal, LLC or Partnership) payable to:

“. . . w e m u s t make sure our strategy is in line with the changes that a Biden Administration may make as priorities.”

Senate Georgia Battleground Fund c/o Nathan Riedel 20 F Street, NW #610 Washington, DC 20001 In other Federal contests, InsurPac National disbursed $1.95 million in 254 races this election cycle and had a 93% victory rate in the races that have been called. Thank you again to all those that contributed, volunteered and voted. u

Cindi Gresham 23

Endorsed Partner of

24

The Tennessee Insuror

From Your CEO Answering the "Why?" and the "How?" I've been blessed to have had a great career in the insurance industry, and when I sold my agencies in 2018, I'm sure many thought that chapter of my life was closed. So why would I come back to this industry when I have achieved success in it already? Why would I take on a new role as Insurors CEO when I hold an elected office in the State Legislature? Why would I want another "challenge" in this stage of my life? The answer is simple – this was an opportunity I couldn't pass up, because the insurance industry is a part of me.

How Will We Improve?

Insurors of Tennessee is an "institution" in the world of insurance. The legacy spans over 127 years and has built such a relevance in our state that people who don't even know what we do still recognize our name. Even though I was a "captive" or "direct writing" agent for my career – I knew the significance of Insurors of Tennessee and what it meant to be a member. Now I have a chance to be a part of all of this.

One of the fundamentals is interaction with our members on a more personal level. I am also committing to you that Daniel, Jim, Nick and myself will be more active in visiting our members and their regional communities. We are going to provide more face-to-face value for our members and make sure they are seeing tangible return on their membership investment.

When I look back on it, the 35 years I've spent in the insurance industry doesn't seem like it has been that long. But 35 years doing anything is a long time, especially in a world where people often change careers multiple times. But I love the insurance industry, and what we do to help the people of our communities.

Although some may consider it cliché, I think we would all agree that there is something very special about helping your insureds in their time of need. Whether it's a burned down office building, a tornado-blown house, a costly accident or a widowed spouse – the satisfaction of helping people get a part of their life back is immeasurable.

I loved helping my insureds when I was an agent, and I can't wait to help you better support yours as Insurors CEO. We are in a changing world, so I know there are things that are going to need to be different for our Association. But I also know that we didn't get to be 127 years old by not keeping the things that make this organization great.

I will commit to you that we will find a balance between our solid foundation and making sure we improve – all while keeping our identity intact.

The Tennessee Insuror

So, where do we start? I have committed to your Board of Directors that I will personally reach out to every member agency in this organization by the end of the 2nd Quarter in 2021.

I want to get to know you, get to know your business, and hear your feedback on how we can improve. Once I have completed those conversations, we're going to begin to implement needed changes and also reinforce some of our fundamentals.

We're also going to work with the Big "I" to make sure the value they bring is more evident to our members. There are many products and programs that they offer, and I don't want those to get "lost in the shuffle" of other opportunities. I really think they can bring significant additional value to many of our agencies.

And finally, I am going to bring an agent's perspective to the conversations we have and decisions we make as a staff. Our Board directs us on our strategy, but I also have an obligation to implement that strategy in the best way possible for our members. I think I can bring some of that agent mindset to our day-to-day implementation as we look to Educate, Protect and Support you all.

“Now I have a chance to be a part of a l l o f t h i s .”

Let Me Know How Else to Help Please feel free to reach out to me at rtravis@insurors.org or call my cell phone at 423.618.0649 with any thoughts, questions or concerns you may have.

I am here to serve you, the members of Insurors of Tennessee. And remember – I love this industry! u

Ron Travis 25

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The Tennessee Insuror

EDUCATION SCHEDULE

20 21

SEP

9/15-17 CIC Commercial Casualty • NASHVILLE 9/28 CISR Commercial Property • JOHNSON CITY

FEB

2/2 CISR Agency Operations • NASHVILLE

9/29 CISR Commercial Property • KNOXVILLE

2/3 CISR Agency Operations • MEMPHIS 2/17-19 CIC Commercial Property • NASHVILLE

9/30 CISR Commercial Property • CHATTANOOGA

MARCH

11/3-5 CIC Personal Lines • NASHVILLE

3/10-12 CIC Commercial Multiline • MEMPHIS

APRIL

NOV DEC

12/7 CISR Commercial Casualty II • NASHVILLE

4/6 CISR Personal Residential • JOHNSON CITY

12/8 CISR Commercial Casualty II • MEMPHIS

4/7 CISR Personal Residential • KNOXVILLE 4/8 CISR Personal Residential • CHATTANOOGA

ONLINE EDUCATION

4/21-22 Ruble Graduate Seminar • NASHVILLE

MAY 5/11 CISR Elements of Risk Management • NASHVILLE 5/12 CISR Elements of Risk Management • MEMPHIS

AUGUST

Use code FALL2020 to get 20% off all ABEN online CE courses.

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.

Use code INSTN to get 20% off on Pre-Licensing and CE courses through Kaplan Financial.

8/4-6 CIC Agency Management • KNOXVILLE

Online training for new hires. Use code Upskill20 to get 20% any bundle.

CISR 2/2 2/3 4/6 4/7 4/8 5/11 5/12 9/28 9/29 9/30 12/7 12/7

Fee: $186

Agency Operations Agency Operations Personal Residential Personal Residential Personal Residential Elements of Risk Elements of Risk Commercial Property Commercial Property Commercial Property Commercial Casualty II Commercial Casualty II

CIC

Fee: $430

2/17-19 Commercial Property Institute 3/10-12 Commercial Multiline Institute 4/21-22 Ruble Graduate Seminar 8/4-6 Agency Management Institute 9/15-17 Commercial Casualty Insitute 11/3-5 Personal Lines Institute

CE: 7

Nashville Memphis Johnson City Knoxville Chattanooga Nashville Memphis Johnson City Knoxville Chattanooga Nashville Memphis

CE: 16

Nashville Memphis Nashville Knoxville Nashville Nashville

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

ABEN Webcasts (insurors.aben.tv) 12/8 12/8 12/8 12/9

Cyber Security and Insurance Risk CE: 2 $48 Double Trouble - COI and Biz Auto CE: 2 $48 Are You More Ethical Than Politician? CE: 1 $24 E&O: Roadmap to PAP and PUP CE: 3 $72

12/9 12/9 12/9 12/10 12/10 12/10 12/10 12/10 12/10 12/11 12/11 12/18 12/18 12/18 12/18 12/18

E&O: Roadmap to HO Endorse. Pt. 1 CE: 3 $72 E&O: Roadmap to HO Endorse. Pt. 2 CE: 3 $72 Flood Program Overview: NFIP CE: 3 $72 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 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 Are You More Ethical Than Politician? CE: 1 $24

Addl' 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

(www.scic.com)

Legal & Ethical Requirments of Insurance CE: 4 Insuring Flood Exposures - NFIP Review CE: 4 Available from The Institutes

$75 $75

(insurors.ceu.com)

Insurance Principles and Policies Long Term Care Workers’ Compensation Employee Benefits for Small Companies Healthcare Reform and Affordable Care

CE: 7 CE: 24 CE: 10 CE: 4 CE: 5

$49 $99 $59 $39 $49

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

27

Partners

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FOR TENNESSEE

Endorsed

PARTNERS

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Leading

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Thank You!

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FOR YOUR SUPPORT OF INDEPENDENT AGENTS IN TENNESSEE

Sustaining PARTNERS

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continued on page 44 30

The Tennessee Insuror

Layman's Terms

Advocacy Update: Initial Election Results and Impacts Insurors Director of Government Relations, Jim Layman, J.D., breaks down the legal and legislative issues facing our industry.

Election Day was Tuesday, November 3, and despite a tight race and ongoing recounts and legal challenges, the major news networks have projected that former Vice President Joe Biden is now President-Elect. Although that was the national result, in Tennessee President Trump won handily and by nearly the same margin as he did in 2016, despite increased voter turnout and polling suggesting the margin would be trimmed.

In the race to replace long-time U.S. Senator Lamar Alexander, Republican Bill Hagerty easily defeated Democrat Marquita Bradshaw with 62% of the vote. In the U.S. House, all 8 incumbents kept their seats, and Republican Diana Harshbarger won election to the District 1 seat in Northeast Tennessee to replace retiring Rep. Phil Roe. InsurPac National disbursed $1.95 million in 254 races this election cycle and have had a 93% victory rate in the races that have been called.

Election Day was also a good one for candidates supported

by InsurPACTN, as we saw 100% of candidates that we supported get elected. Thank you again to all those that contributed and all those that volunteered and voted.

In the State Legislature, party makeup has changed very little as the Democrats picked up one seat in the State Senate and there was no change in the House.

Democrat Heidi Campbell narrowly defeated incumbent Dr. Steve Dickerson to win his Nashville Senate seat. The Senate also welcomes Republican Page Walley (R-Bolivar) who is replacing former Sen. Dolores Gresham.

In the State House, the chamber will welcome three new Republicans from northeast Tennessee; they are Rep. Scotty Campbell (R-Mountain City), Rep. Tim Hicks (R-Gray), and Rep. Rebecca Alexander (R-Jonesborough). In Knoxville, the House will see the following: Democrat Sam McKenzie, Republican Michele Carringer, and Republican Eddie Mannis. In Memphis, Democrat Torrey Harris beat out former Rep. John DeBerry who was forced to run as an independent, and Republican John Gillespie narrowly hung on to former Rep. Jim Coley’s

The Tennessee Insuror

seat with a victory over Democrat challenger Gabby Salinas.

Elsewhere in the state, the House will also welcome Rep. Tandy Darby (R-Greenfield) and Rep. Todd Warner (R-Chapel Hill).

In races involving Insuror members, our own held strong.

New Insurors CEO Rep. Ron Travis (R-Dayton) won reelection easily, as did members Rep. Michael Curcio, Rep. Ron Gant, Rep. Kelly Keisling and Rep. Dennis Powers. State Farm agent Rep. Clark Boyd also won reelection.

New Session Just Weeks Away The 112th Tennessee General Assembly convenes on January 12, 2021. It will undoubtedly be a unique session as access to the chambers continues to be impacted by COVID-19. Many anticipate a shortened session and one that is more focused on COVID-related and time-sensitive bills. We will be ready no matter the circumstances, and I am also very much looking forward to our first session with Ron Travis as our CEO. Despite the hard work of our Government Affairs Committee and myself to protect and advance the interests of independent agents in the state legislature, that work is not successful without a well-funded PAC. Please remember to contribute generously to InsurPACTN and InsurPac when you receive your dues renewals so that we can continue to be successful on the legislative front.

With that in mind, many of our members have already been great supporters of InsurPACTN in 2021. Please take a look on the next page and share in our gratitude for their participation.

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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InsurPACTN Contributors Recognizing our Top 2020 Supporters Champion's Club ($1,000 or higher) Anderson Benson Insurance • Bob McIntire • Brad V. Smith • Cate-Russell Insurance • Chris Allison • Commercial Insurance Associates • Cindi Gresham • Eric Collison • Frank E. Neal & Company • Chip Fridrich • Hardin County Bank Insurance • Jimmy Ward • John Bailey Company • John McInturff III • • Kevin Ownby • Kym Clevenger • Lou Moran III • Mark Slater • Martin & Zerfoss, Inc. • Miller Loughry Beach Insurance Services • Norfleet Anthony III • Oseman Insurance • Powell & Meadows Insurance • Price & Ramey Insurance • Scott Ferguson • SecureRisk • SouthPoint Risk Advisors • Strate Insurance • Sunbelt Insurance Group • Swallows Insurance • Tee Zerfoss • Thompson & Smith • V.R. Williams & Company • Westan Insurance Group • White and Associates Insurance • Young-Hughes Insurance

Capitol Club ($500-$999) Arlington/Roe • Bailey Special Risks • Barnes Insurance • BFS Insurance • Bolivar Insurance & Real Estate Agency • Boyle Insurance • Bradshaw & Co. Insurors • Boyle Insurance Agency • Bradshaw & Company Insurors • Cy Young • Donald Ray Pennington • Ed Gibbons • Edwards, Tipton and Witt Agency • Griffin Insurance Agency • Inter-Agency Insurance Services • Jamie Williams • Joe Lester • John McCord • Keith Phelps • Laura Ann Howell • Lipscomb & Pitts Insurance • Lofton Wells Insurance • Maddox Insurance Agency • McDonald Insurance and Financial Services • Porch-Stribling-Webb Insurance • Reno Benson • Richard Whitley • Shafer Insurance • Steve Oseman • Taylor Porch • Tommy Allmon • Widener Insurance Agency • Wyatt Insurance

Campaign Club ($50-$499) Abbott Insurance • Amber Crosslin • Amie Newsom • Bagley & Bagley • Bailey Insurance Service • Battle Page Insurance • BurchfielOverbay & Associates • Burke, Powers & Harty • Capital Risk Management Group • Carnal-Roberts Agency • Cassie Creson • Central Insurance • Chambers Insurance Agency • Chelsy Cuendet • Chelsy Dochety • Clagett Huddleston Insurance • Coker, Wolfe & Associates • Coley Insurance Agency • Crye-Leike Insurance • Daniel Smith • David Allen • Davis McCord • DeKalb County Insurance • Dixie Smith • Elite Insurance Solutions • Elliott Johnson Insurance • Emily Owens • Encompass Insurance • Farris Evans Insurance • Flegal Insurance • Foster Insurance • Fred L. Davis Insurance • Fridrich & Associates Insurance Agency • Gary Cooper Insurance • Graham & Cook • Guess Insurance • Hale Insurance • Handley Insurance Resources • Haven Insurance Partners • H.B. Cowan & Co. • Heritage Insurance Group • Herron-Connell Insurance • Holli Lawson • Holman & Holman Insurance • Hunter Trimble • Hyde & Associates • Insurefit RM • International Insurance Brokerage • Ivy Insurance • Jack Thoma • James A. Rothberg & Associates • Janis Nestor • Jan Ward • J. Mark Bowery Insurance • J.M. Insurance • John McInturff Jr. • Jolene Vaughter • J. Paul Richardson & Son • June Wilkinson-Taylor • Keisling Insurance • Kellon Insurance • Kenneth Pack • Lindsey Martin • Markus Insurance • McNail Insurance • Nicole Poole • Noland Gomez • Northshore Insurance • OccuSure Workers’ Comp Specialists • Oldham and Cox Insurance • Ownby Insurance Service • Page, Chaffin & Riggins Insurance • Parker and Watts Insurance • Perry Trowbridge • Public Risk Insurors • Raborn Insurance Agency • Regina Hendrickson • Ron Berry Insurance • Sam Bradshaw • Shannon Insurance Agency • Sills Insurance • S.N. Anthony Inc. • Steve Bryant • Susan Clem • Susan Hawkins • Swafford Insurance • Taylor Insurance • T.C. Simmons Insurance • Thetford Insurance • Tooley & Carver • Townsend-Evans Insurance • Tri-State Claims • Trust Point Insurance • Tucker Agency • Veritas Risk Management & Insurance Services • Waggoner’s Insurance Agency • Wall-Modrall Insurance Service • Watauga Insurance • Whitehead Insurance Group

Advocate The Agent

32

The Tennessee Insuror

MY CUSTOMER WANTED TO GROW HIS BUSINESS AND WAS COMPETING

FOR A LARGE CONTRACT T.

I ISSUED A COI FOR HIS

BUILDERS MUTUAL POLICY

THAT VERY DAY.

THANKS TO BUILDERS MUTUAL I CAN GIVE MY CUSTOMERS WHAT THEY NEED WHEN THEY NEED IT. Whether it’s the voice in your head or the one right beside you, Builders Mutual is always there, at work with you.

BuildersMutual.com

The Tennessee Insuror

33

Why Choose West Bend?

People

Insurance is a people business, and at West Bend, we pride ourselves on approachability and accessibility at every level of our company.

Relationships

We consider the relationships with our agents to be partnerships. Agents are our primary customers, and we support, and wholeheartedly endorse, a strong independent agency system.

Stability

Since 1894, West Bend has come to stand for excellence through the use of innovative products, steady growth, and financial stability. Since 1971, we’ve maintained an A (Excellent) or better rating from AM Best.

Regional Mutual Insurer

As a regional mutual insurer, West Bend decides what to do, and our decisions are always based on what’s best for our agents, insureds, and associates for the long term. As a regional insurer, we understand the local and regional markets.

Products

Our product offerings are well rounded, innovative, and diverse. West Bend is an industry leader in writing a wide range of businesses, including most found on your town’s Main Street. Through our specialty division, we specialize in writing risks many other companies turn away. Our bond department makes contract and commercial bonding easy to quote and issue. And our monoline workers’ compensation division provides a high-touch, results-oriented approach to help customers control the cost of insurance.

Service

Our dedication to service is what sets us apart from our competitors. Our knowledgeable and skilled teams of professionals provide unmatched service and dedication to our agents and their customers.

It doesn’t end there

Put all of these together – and more – and you’ll find West Bend offers distinct value through superior agency relationships, strong financial performance, stability, commitment to outstanding products and services, and knowledge and experience.

That’s why agents choose West Bend.

34

The Tennessee Insuror

Association Update Three Insurors Named to Musto Hall of Fame

Nordhaus Named to 2020 "Hall of Fame" Class

The Robert E. Musto Tennessee Insurance Hall of Fame at Middle Tennessee State University has selected three longtime insurance professionals for its 2020 class, all of which have ties to Insurors of Tennessee. Jack Spann, Bill Wilson and Bud Zander will all be inducted into the hall in 2020, and we plan to recognize them at a ceremony during our 2021 Agency Growth Conference on March 24 in Franklin.

Former Insurors Executive Director George Nordhaus was recently named by Insurance Business America magazine to its 2020 Hall of Fame class. Nordhaus has over 6 decades of experience in the industry and still works in insurance as the founder of USA Insurance Network. He has written several books on insurance sales and marketing and consulted with agencies across the country.

John A. "Jack" Spann III's posthumous honor recognizes a long and accomplished career in the insurance industry. A Past President of Insurors, Spann was also the leader of Spann Insurance which was later acquired by Brown and Brown of Tennessee. He was a former president of Insurors of Nashville, was named Insuror of the Year in 1988, helped begin our Titans Radio program, and also helped found our banking partner INSBANK. Bill Wilson, CPCU, ARM, AIM, AAM formerly served as the director of education and technical affairs for Insurors and later retired as associate vice president of education and research for the Big "I", where he founded the Big “I” Virtual University. Since his retirement, Wilson has founded InsuranceCommentary.com, an industry blog about property and casualty insurance, is working on a fifth book and delivers keynote presentations as part of his consulting work. He has won several national education awards, including the George M. Gottheimer Memorial Award, which is presented periodically to a CPCU Society member who has made an outstanding contribution to the field of insurance education, risk management or insurance consulting.

Julian "Bud" Zander's posthumous honor recognizes a 60-year career as a principal of the well-known family business Zander Insurance, one of the largest independent insurance agencies in the country. Zander served on the Insurors Board in the early 1990s.

He also taught for five years as an adjunct faculty member at Nashville State Community College. From the time he joined Zander Insurance, the company grew every year and earned awards in every area of insurance service, including P&C and L&H, according to his nomination letter. Zander was known for providing “the same care and attention to every client, whether they had one car insured with Zander or a multimillion-dollar business.”

The Tennessee Insuror

Reliance Partners Continues its Expansion Chattanooga-based Reliance Partners, LLC has announced the agency will add 100 additional jobs and invest another $1.3 million in its headquarters in the city. The agency serves primarily the trucking and logistics industry and currently has nearly 175 employees at locations in Chattanooga, Chicago, Milwaukee, Tampa, Birmingham, Alabama, Sacramento, California and Austin.

"We've nearly doubled our premium income every year and long-term our goal is to become a billion-dollar company," said Andrew Ladebauche, who founded the company in 2009 and remains its CEO. "We're growing our business nationwide, but Chattanooga remains our headquarters where we see the most employment growth and where we see real opportunity to serve the logistics industry."

The agency also just acquired the assets of Nashvillebased transportation-focused insurance agency Capacity Southeast. Capacity Southeast Agency’s President, Debra Brake, and Senior Vice President, Jessie Merritt, will also join Reliance Partners’ team.

Oster a Finalist Among "Best Agents" Stanton Oster, a peronsal lines client executive with Shafer Insurance in Knoxville, was recently voted as a finalist in Cityview Magazine's "2020 Best of the Best" in the Insurance Agent category. Oster has been with the agency for almost 3 years and specializes in home, auto, life, and other personal lines of coverage.

Oakes Named to "40 Under 40" by Knox.biz Stuart Oakes, the president of the construction division for TIS Insurance Services, Inc. in Knoxville and former Insurors Young Agent Chair, was recently named to the "Knox.biz 40 continued on page 41 35

Your insights

+

Our

strengths and expertise

=

Top-class

protection around the world

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 contact administrator Jeff Severino of Lockton Affinity at JSeverino@locktonaffinity.com or 913.652.7520.

36

Insurors of Tennessee Ph 1 800 264 1898 E info@insurors.org

The Tennessee Insuror

Insurance products underwritten by Westport Insurance Corporation, Overland Park, Kansas, United States, a member of Swiss Re Corporate Solutions.

Company Spotlight Encova Insurance

Custom Insurance Solutions Offered through Innovative Technology

Motorists Insurance Group and BrickStreet Insurance affiliated in 2017 and united under the Encova Insurance name in 2019. Encova remains committed to the independent agency model that Motorists and BrickStreet employed in the past. Encova’s superior financial strength, cutting-edge technology, local expertise, one-stop-shop model and 360° workers’ compensation coverage set them apart from their competitors.

commercial lines reinvention, Encova has now launched new personal lines products in three states, with plans to roll out to eight more in 2021. All lines of business utilize Encova’s state-of-the-art agent portal, Encova Edge, where agents can easily quote and issue business online and gain access to marketing materials for innovative new products.

With all the resources of a large national carrier delivered through a local team of experts agents know and trust, Encova offers the best of both worlds: Local carriers cannot compete with their network, and national carriers cannot match their ability to provide personalized, custom solutions.

Encova has a national reach, but they make decisions locally. Their business model is grounded in trusted relationships and responsive service, with associates who take the time to get to know agents and their policyholders, as well as learn their businesses.

Financial Strength

360° Workers' Comp Service

Encova’s superior financial strength enables them to make the necessary investments in technology, products and services that make day-to-day operations better than the rest. Encova provides agents with a stable, trusted market for all their clients to help them write and retain business.

Encova’s unique workers’ compensation solution is unparalleled industrywide.

Their team of experts is the agency’s team of experts, providing resources for underwriting, claims management, safety and loss prevention, return to work, medical and legal support, premium auditing and one of the best anti-fraud units in the nation.

Smart Technology More does not always mean better, and when it comes to technology, Encova focuses on creating practical digital solutions that are easy to understand, access and implement. In 2017, Encova employed a greenfield approach to launch a brand-new commercial lines solution. Since then, more than 42,000 policies have been converted. Not only has the policy conversion been a success, Encova’s policy retention rate during the conversion process was over 86% – significantly higher than industry standards.

Following

the

success

The Tennessee Insuror

of

their

Local Expertise

One-Stop Shop Encova’s wide range of product offerings means they can design a customized solution for nearly any risk management challenge their agents face. Encova’s product portfolio of life, personal lines, commercial lines, workers’ compensation and brokerage operations – delivered through one integrated service team – cannot be duplicated in many markets.

Tennessee Contacts Will Johnson Vice President and Business Director 513.846.0304 will.johnson@encova.com Len Hampton Vice President and Business Director 704.409.1099 len.hampton@encova.com

About Encova Insurance A super-regional carrier ranked in the top 20 mutual insurance companies in the United States, Encova includes more than 1,200 associates writing in 28 states and the District of Columbia, premiums in excess of $1 billion, a surplus in excess of $1.65 billion and assets in excess of $4.3 billion. The group markets insurance solutions through more than 2,000 independent agencies in the Midwest, Northeast and South.

To learn more about how Encova can partner with you on custom insurance solutions, visit encova.com. u 37

TOGETHER WORKING

“Exclusive member agencies, collaborating to bring the best insurance solutions to their clients.�

The Allison Insurance Group - Jackson Assured Insurance Consultants, LLC - Morristown Bagley & Bagley Insurance - Fayetteville Boyle Insurance Agency, Inc. - Memphis Burke, Powers & Harty - Bristol Carnal-Roberts Agency, Inc. - Lexington Cate-Russell Insurance, Inc. - Maryville Frank E. Neal & Company, Inc. - Nashville Goss Insurance - Hixson Higgins Insurance - Clarksville/Hopkinsville, KY 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 Sunbelt Insurance Group - Chattanooga Tigrett & Pennington Inc. - Dyersburg V.R. Williams & Company - Winchester Watauga Insurance, Inc. - Johnson City

Get more information now at www.securerisk.com

The Tennessee Insuror

Broker Spotlight Cowbell Cyber

Now Admitted in Tennessee for Standalone Cyber

In today’s economy, every business – regardless of size – can be victim of a cyber incident. It’s a matter of “when,” not “if.”

Your clients need your help to get access to cyber coverages that provide them with effective financial protection from cyber incidents.

and risk assessment services for policyholders powered by data and artificial intelligence, Cowbell provides more value to your clients. Their risk services include recommendations and even more insights through the use of connectors that reveal potential security weaknesses from cloud applications.

Cowbell Cyber is excited to be partnering with Insurors to bring you exclusive cyber insurance options that are admitted in Tennessee and 30 other states. Cowbell’s standalone cyber insurance programs include Cowbell Prime 100 for companies with up to $100 million in annual revenue, as well as Cowbell Prime 250 for businesses with up to $250 million in annual revenue.

Currently admitted in 31 states (more coming soon), Cowbell is quickly growing to become the premier choice for cyber insurance coverage for small and mid-size businesses in the U.S.

Cowbell Prime is written on AM Best “A” rated paper and offers some of the most robust standalone cyber forms in the market. Their policies are fully customizable, come with preset industry-specific packages, and even offer unique endorsements for construction and manufacturing.

With higher limits (up to $15 million) than most other programs

Cowbell’s mission is to make cyber insurance easy for both policyholders and agents with a simplified application process, unparalleled clarity of coverage, expedited quoting and binding, and customized policies. In addition, ongoing risk assessments allow your client to adjust their insurance coverage as their business risks evolve.

Brokers and insurance agencies who are interested in an appointment with Cowbell can get in touch with the company at https://cowbell.insure/for-agencies/ and learn more in this 90second video https://youtu.be/xjFZYmYCfxs u

TM

The Best Cyber Protection for SMBs on the most robust, admitted cyber insurance forms

Customized policies Quote and bind in minutes Continuous risk assessment TM

Get appointed at: https://cowbell.insure/for-agencies/ TM

Cowbell Factors quantify risks in real-time and continuously.

Cowbell Insights deliver recommendations to mitigate risks. © 2020 Cowbell Cyber, Inc. | All Rights Reserved | www.cowbell.insure | 1-833 MEET MOO Cowbell Insurance Agency LCC, State Licenses: https://cowbell.insure/state-licenses/

The Tennessee Insuror

39

Independence can’t happen alone Independence means freedom, but it also means responsibility. It is about staying true to the commitments you’ve made - to your clients, your colleagues, and your community.

Keystone connects you to a community of like-minded independent agencies. Our mission remains unchanged: to provide access to the expertise, resources, and relationships that sustain independent insurance agencies over the long haul.

Keystone. Independence works better together.

Contact Michele Bicknell for more information: 570.473.2148 mbicknell@keystoneinsgrp.com keystoneinsgrp.com

©2016 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.

40

The Tennessee Insuror

Association Update (cont. from pg. 35) Under 40 class of 2020." Each year the list features the best of the best from East Tennessee's business community.

The honorees are made up of individuals under the age of 40 from a variety of industries, communities and backgrounds who are making an impact in Knoxvillearea business leadership. This is the 14th class that Knox.biz has honored.

Union City Insurance Wins Erie Award

their local community.

Union City Insurance Partners, LLC was recently awarded with a Founders' award for 2019 by Erie Insurance.

The award reiterates the agency's commitment to serving

Gurien and Hudson Honored by CMS White & Associates Insurance recently announced that two

agents, Shelia Gurien and Tommie Hudson, have been recognized for their hard work and expertise in helping consumers enroll in and manage qualified health coverage through the Health Insurance Marketplace.

This achievement from the Centers for Medicare & Medicaid Services (CMS) as a member of the 2020 Marketplace Circle of Champions highlights their success in actively enrolling over 100 local consumers during the 2020 Medicare Open Enrollment Season. The Marketplace Circle of Champions program recognizes the hard work, expertise, and service of Marketplaceregistered agents and brokers.

Veritas Named Among "Best of the Best" Johnson City-based Veritas Risk Management and Insurance Services was recently voted as the best in all the insurance categories in the Johnson City Press "Best of the Best" for 2020.

The agency was the readers' choice winner in home, auto, life and business insurance. u

Across the country people wake up every morning and head to work. They work in retail, construction, warehouses, and factories making sure they can support their families and make it home safely at the end of each day.

At Stonetrust, we know a little something about showing up when it matters most, and we strive to always be there for the independent insurance agents and policyholders that trust us with their business.

800.311.0997

STONETRUSTINSURANCE.COM The Tennessee Insuror

41

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Preferred Property Program can help you procure Umbrella coverage for your insureds with an AXV A.M. Best rated carrier for the following types of risks: Developer Sponsored Boards Master Associations High-rise Associations & Apartments to 35 stories are eligible and more Limit options ranging from $5 million to $50 million Coverage can include excess D&O ● General Liability ● Auto ● Employee Benefits Employers Liability, Including Employment Practices Liability* (*if covered under the D&O) Follow Form EPLI is available only up to $25 Million limit

In 2016 we partnered with American Union Risk Underwriters (AURA) located in Florida.

With our new partner we can now also offer our comprehensive Umbrella, with unsurpassed service and for the following types of risks: Hotels ● Motels ● Timeshares ● Lessor’s Risk Enclosed Malls Shopping Centers Retail ● Office Buildings ● Warehouses ● Light Industrial Apartments Limit options ranging from $5 million to $100 million For information on our AURA program, contact our experienced underwriter Tom Clementi at 877-506-1430 or visit our website, www.aurains.com A subsidiary of

101 Crawfords Corner Road, Suite 1300 Holmdel, NJ 07733

42

For more information contact our team of Underwriters

888-548-2465

www.ppp-quotes.com

The Tennessee Insuror

Company Briefs Lawence Named as New TDCI Commissioner Tennessee Governor Bill Lee announced recently that Carter Lawrence will serve in his cabinet as Commissioner of the Tennessee Department of Commerce & Insurance, effective immediately. Lawrence was serving as Chief Deputy Commissioner and Chief Operating Officer at the Department of Commerce & Insurance. He previously served as Interim Commissioner from June to October of 2019.

He has also served on Tennessee’s Economic Recovery Group throughout the COVID-19 pandemic, assisting Gov. Lee’s efforts to reboot the state’s economy.

Brown joined Central in 2014 as Marketing Manager for Western Ohio. Prior to joining Central, he gained experience in the industry as both an independent agent and a marketing representative for Federated Mutual Insurance.

Delta Dental CFO Ballard Recognized by NBJ Jeff Ballard, the Chief Financial Officer for Delta Dental of Tennessee, was recently voted as the Large Private Company CFO of the Year by Nashville Business Journal.

Ballard has been with the company for five years and has over 25 years of financial management experience. He previously served as CEO of Magazines.com.

TrustedChoice.com Named Best Insurance Site

State Farm to Acquire GAINSCO

TrustedChoice.com was recently named Best Insurance Website of 2020 by WebAwards. Dozens of insurance industry websites are considered for this award every year. Notable past winners of this award include American Family in 2011, Progressive in 2012, GEICO in 2015, and Insurify in 2016. Congratulations to the TrustedChoice.com team for this recognition.

State Farm Mutual Automobile Insurance Company and GAINSCO, Inc. recently announced that they have entered into an agreement pursuant to which State Farm will acquire GAINSCO for approximately $400 million in cash.

R-T Specialty Opens Birmingham Office

The transaction is expected to close in early 2021, subject to approval by GAINSCO’s shareholders, the expiration or termination of the applicable waiting period under the HartScott-Rodino Antitrust Improvements Act of 1976, obtaining regulatory approvals, and satisfaction of other customary closing conditions.

R-T Specialty has announced that it has established a Birmingham, Alabama office, and that J. Mason Johnston, CPCU, ARe has joined the firm and will lead the office as president. Mason is a property and builder’s risk specialist and joins RT Specialty from CRC Insurance Services where he has been since 2001. Prior to CRC, Mason was a treaty reinsurance underwriter with Hartford Reinsurance on multiline per risk and catastrophe treaties.

GAINSCO concentrates on the non-standard personal automobile insurance market, specializing in minimum-limits personal auto insurance.

Central Promotes Brown to Director

Berkshire Hathaway GUARD Insurance Companies recently announced a partnership with Guardian™ by Elexa to provide smart leak prevention systems to the insurer's Homeowners policyholders.

The Central Insurance Companies have announced the promotion of Kurtis Brown, CPCU to Director of National Partner Relationships. In this role, Brown will focus on business development and strategic partnership with the company’s agency partners who operate on a countrywide scale. He will provide direction, resources, and opportunities for a more focused approach toward growth and profitability to enhance Central’s growing national presence.

The Tennessee Insuror

The transaction is the first acquisition of an insurance company by State Farm in its 98-year history.

GUARD Offering Policyholders Leak Prevention

According to Sy Foguel, CEO of Berkshire Hathaway GUARD, "We know protecting your assets is critical. That's why we have partnered with Guardian to offer these leak detection and prevention systems to our Homeowners policyholders.

With Guardian, you can monitor potential sources of leaks in your home 24/7. The system includes a smart phone app that will send notifications and even allows you to control it remotely."

43

Berkshire Hathaway GUARD is offering insureds the Guardian Leak Prevention System Plus. Homeowners can place the detectors near toilets, washing machines, and other appliances or fixtures to monitor for leaks. The Valve Controller then communicates directly with the Leak Detector and can close the water main automatically in the event of a leak, freezing temperatures, earthquake, or power failure.

Hippo Secures $350 Million in Capital Hippo Enterprises, the high-growth insurtech group that’s transforming home insurance, announced a capital investment of $350 million from Mitsui Sumitomo Insurance Company, Limited, a subsidiary of MS&AD Insurance Group Holdings, Inc. Through this partnership, Takashi Sato, a managing partner of MS&AD Ventures, the corporate venture capital fund of MS&AD Insurance Group Holdings, will join Hippo’s board of directors as an observer.

The investment will support Hippo’s product roll out in additional states, to reach 95 percent of the U.S. homeowners population in the next year, as well as providing additional capital for its insurance and reinsurance companies. The investment solidifies the strategic partnership between the two companies, which began with MS&AD Ventures’ initial investment in Hippo’s Series E funding round in July 2020.

National Guardrail Safety Week Launched by Builders Mutual The inaugural observance of national Guardrail Safety Week was launched October 19-23, 2020. Builders Mutual Insurance Company, a leading writer of commercial insurance for the construction industry in the Mid-Atlantic and Southeast, joined forces with the National Association of Home Builders (NAHB), Job-Site Safety Institute (JSI) and Safety Maker to launch the initiative. Our collective intent is to raise awareness of the importance of guardrails and to promote consistent use on job-sites to save lives and send more people – both workers and job-site visitors – home at the end of the day.

This year’s virtual campaign focused on partnerships and awareness with Builders Mutual providing content through an email campaign, multiple daily social media posts and the broadcast of a video podcast via Facebook live. The company shared original blog articles, training resources and videos on their social channels that could be shared by followers and used on job-sites to educate employees and visitors about the importance of guardrail safety.

The live production of their Building Progress podcast featured two industry experts, Brad Hammock, an attorney with Littler Mendelson in Washington, D.C., and Josh Hollingsworth, safety manager with Buchanan Construction in Asheville, North Carolina, who discussed the importance of guardrail safety as it relates to risk, liability and job-site accountability.

44

Harford Mutual Announces Changes; Logo Maryland-based Harford Mutual Insurance announces the conversion of its corporate structure to a mutual holding company forming a new parent company, Harford Mutual Insurance Group, effective October 1, 2020. The finalization of the conversion extends the important benefits of mutuality rights to all policyholders in their subsidiary underwriting companies, Harford Mutual Insurance, Firstline Insurance, and their newest underwriting company, 1842 Insurance.

The conversion allows all policyholders to benefit from the member-owned, one member-one vote mutual philosophy that has helped guide Harford Mutual for 178 years, while also giving the company a renewed ability to focus on longterm benefits to its members and their communities through investment in innovative products, new technologies, as well as new opportunities for sustainable and responsible growth.

To complement the restructure and new strategic direction, the company also embarked on a rebranding initiative, reimagining its logo and revealing a new icon that more fully tells their mutual story – illustrating their continued commitment to their founding principles as they look to the future.

Zywave Acquiring ITC Insurance technology provider, Zywave, recently announced the acquisition of Insurance Technologies Corporation (ITC), a leading provider of marketing, rating, and management software and services to the insurance industry. Together with Zywave’s existing portfolio of solutions, the acquisition solidifies Zywave’s position as the leading provider of solutions for carriers and independent insurance agencies to help them drive business efficiency and accelerate growth.

Zywave plans to align and integrate ITC’s products with its Sales Cloud offering, which includes multiple front-ofoffice solutions that streamline mission-critical workflows to strengthen organic growth. Within the Sales Cloud, ITC’s personal lines rating solution will be a natural complement to Zywave’s exclusive suite of existing market-leading CPQ offerings that enable more efficient and accurate quoting and proposals for employee benefits and commercial lines quoting.

A.M. Best Upgrades Utica National Utica Mutual Insurance Company (Utica Mutual) (New Hartford, NY) and its intercompany pool participants and reinsured affiliates, collectively referred to as Utica National Insurance Group, have earned an AM Best Financial Strength Rating (FSR) upgrade to A (Excellent) from A- (Excellent) and The Tennessee Insuror

INSURING OPPORTUNITY THROUGH ® 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 The Tennessee Insuror

45

the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” from “a-”. The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

Said Rich Creedon, Chairman and CEO, “This important acknowledgement of our financial strength has been many years in the making and reflects our stable outlook and reliability as a leading regional insurance carrier. This acknowledgment from AM Best is a welcome validation of our employees’ hard work, their commitment to our customers and agents, and being at our best when our customers need us most.”

Summit Names Marks as VP of Sales Summit, a leading provider of workers’ compensation insurance services in the southeastern United States, is pleased to announce that Mr. Paul Marks has been named vice president of Sales.

In 2002, Mr. Marks joined Summit as an agency executive in the Sales department, and throughout his time with the company, has held roles of increased responsibility.

He served as a Loss Prevention manager from 2007 to 2010 and assistant vice president of Loss Prevention from 2010 to 2015. Mr. Marks most recently served as an assistant vice president of Sales for Summit’s Southeast Region.

“I am excited to announce that Paul is assuming broader responsibility for this important part of the organization,” says Carol Sipe, Summit’s president and CEO. “He has demonstrated tremendous leadership throughout his career with Summit, and I am confident in his ability to carry out this role.”

Your customers deserve the best PROTECTION. RLI Personal Umbrella Policies are DIFFERENT.

Mr. Marks earned a Bachelor of Arts in Risk Management and Insurance from Eastern Kentucky University. His professional designations include Associate in Underwriting (AU) and Certified Insurance Counselor (CIC).

Amerisure Promotes Al-Zoubi to CIO Amerisure has promoted Amjed Al-Zoubi to Chief Information Officer. He had previously been CTO for the company, which he joined in 2018. Reporting to Greg Crabb, Amerisure's president and CEO, Al-Zoubi is responsible for IT, as well as the business process and portfolio management office and innovation team. He also will continue to lead the organization's Agility Practice Group.

Al-Zoubi joined Amerisure as VP of application systems.

Before that, he was an IT Director at USAA Life Company and also worked at CUNA Mutual Group. u 46

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 The Tennessee Insuror

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Moving on From Internet Explorer It's Time for the Industry to Update written by Kailey Andrews, Titan Web Marketing Solutions Internet Explorer was first released by Microsoft in 1995. From its initial release, Internet Explorer came installed by default on every Microsoft computer. Twenty-five years later, Internet Explorer has run its course as a safe internet browser. Many internet users still use Internet Explorer as their main browser and have not moved over to a newer internet browsing source. If you have not switched over to a newer browser, it may have caused you some issues while trying to access anything online.

Lack of Support Internet Explorer has become infamous for displaying websites differently than other browsers do. Your company’s website may look fantastic on your screen, but if another user was browsing on an older version of Internet Explorer, it could look terrible. In January of 2016, Microsoft stopped supporting versions 7, 8, 9 and 10 of Internet Explorer. Since then, there have been no patches or security updates - rendering your computer more vulnerable to viruses and malware.

No Security Measures Microsoft admitted to a critical vulnerability within the Internet Explorer browser that allows for malicious hackers to hijack computers that are still running this outdated program.

All a potential victim has to do is to visit a specifically crafted website for their personal information to be compromised.

Microsoft informs, “An attacker could then install programs; view, change, or delete data; or create new accounts with full user rights.” To protect yourself and others in the office, it’s time to look into a new browser.

Introducting Microsoft Edge Internet Explorer has become so outdated that even Microsoft wants you to switch to another browser. In February of 2019, a security researcher from Microsoft issued a statement urging those using Internet Explorer to do away with the discontinued browser immediately. If you want to stick with Microsoft programs, there is no need to worry. They have crafted a safer, faster, and updated browser to replace Internet Explorer called Microsoft Edge. This is the browser that

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now comes installed on every Microsoft computer – similar to its previous counterpart.

Insurance Carrier Response For years, agencies were afraid to switch their internet browser for fear of compatibility issues with carrier portals. In recent years, however, carriers have realized the need to support additional browsers such as Chrome and Firefox. Even with that in mind, some carriers have clung to Microsoft compatibility.

With the introduction of Edge and the “phasing out” of Explorer, even those carriers still clinging to the past will have to upgrade their interface. Worried they may not offer it for access your agency needs? Fear not, Edge also offers a “Compatibility View” that will allow you to open specific sites with Explorer settings. Just click the Settings and more icon in the top-right corner and then search “Explorer” in the settings tab. It will bring up an option to “Allow sites to be reloaded in Internet Explorer mode.” Turning this option “on” will allow sites that require Explorer to be loaded while you’re using Edge.

Saying Goodbye It’s always difficult to say goodbye to something you’ve used for years, but it’s time to move on. The reality is that Internet Explorer has been slowly dying for years and it’s reached the end of its road. No matter where you choose to go with your next browser, it’ll be a massive improvement from what you currently know. If you have an older version of Internet Explorer, it’ll be a breath of fresh air to visit a webpage without any issue and long load time. Say goodbye to Internet Explorer and hello to a whole new browser!

About the Author Kailey Andrews serves as the marketing coordinator for Titan Web Marketing Solutions. With a marketing and social media background, Kailey lends her expertise to clients to assist in their digital marketing efforts. u

The Tennessee Insuror

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The Tennessee Insuror

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The Tennessee Insuror

Meetings Looking Ahead to 2021 with Anticipation Big "I" Winter Meeting January 20-23 The Big "I" plans to hold its 2021 Winter Meeting as an inperson event on January 20-23 in Savannah, Georgia. The conference will take place at The Westin Savannah Harbor Golf Resort & Spa and Savannah Convention Center. The event features committee meetings as well as group meetings for lobbying, leadership and Trusted Choice. Register now or get more info at iiaba.net.

Agency Growth Conference Set for 3/23-24 Our 2021 Agency Growth Conference is tentatively set for March 23-24 at the Marriott Cool Springs in Franklin. We are putting together a lineup of great speakers and sessions and hope to be able to offer this to our members as an in-person event. Keep an eye out at insurors.org for more information as it becomes available. u

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BY AN E&O CLAIM YOU COULD HAVE AVOIDED. Swiss Re policyholders written through the Big “I” Professional Liability Program have access to an exclusive risk management web site.

Log on today to fish for E&O claims frequency data, real-life case studies and analysis, sample client letters, sample agency procedures, agency E&O self assessments, podcasts on important E&O topics, and much more.

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Visit the E&O Risk Management website at www.independentagent.com/eohappens The Tennessee Insuror

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

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

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The Tennessee Insuror

Member Tips Technology Technicalities

by Donna Asta, Vice President, Swiss Re Technology helps insurance agents and brokers service accounts more efficiently. It helps us issue policies and market our products. However, it is only as good as its user. One error can have a lasting effect on the whole process. I remember a Georgia claim involving EPL coverage added by endorsement to a policy. The agency's internal system reflected that EPL coverage was in place. When the agency moved the account to another carrier, their policy no longer contained EPL coverage. However, the broker relied on the agency's system and assumed that a standalone EPL policy had been issued. When the customer was sued by several former employees and had no insurance coverage, the error came to light. As a result, the agency faced a high exposure claim. In this case, technology provided the info, but the user failed to confirm its accuracy.

Similarly, renewal time can come with its opportunities and challenges. It is a great time to market new coverages, recommend that customers reassess their insurance needs and to protect yourself from a future claim. A renewal letter is an excellent example of using technology to meet your clients' needs. Rather often, a client rejects umbrella coverage, but later insists that such coverage was never recommended. Issuing letters recommending umbrella coverage at renewal will help dispute such a claim. For example, a New York claim argued that in 2008 the coverage was offered and rejected. However, we do not have any communication to prove that the coverage was offered.

Sending a renewal letter would have addressed the discrepancy.

Today, websites, social media and e-newsletters are common marketing tools that promote your products and offerings.

They can also help your clients understand the insurance that you offer better. In a California claim, an agency placed workers compensation insurance for a rehab facility. The agency placed the coverage and helped the client develop its work comp program. However, the client did not understand the process resulting in misclassification of certain employees.

That led to claims against the client and a corresponding claim against the agency. Educating your clients and providing resources on your website and e-newsletters to help them better understand what they are purchasing can help minimize such misunderstandings. The clients also appreciate access to such info as it empowers them to make informed decisions.

With many of us working from home right now, we rely on technology more than ever before. In this time of less face-to-face contact, the way that agents and brokers use their resources can make (or break) them. To make the best use of what you have available, know the limits of your technology and continue to communicate with your teams and your clients. u

Directory of Advertisers Advertiser

Phone

Website

Page

ACUITY (920) 458 - 9131 www.acuity.com 9 Arlington/Roe (800) 878 - 9891 www.arlingtonroe.com 7 Bailey Special Risks, Inc. (800) 768 - 7475 www.bsrins.com 6 Berkley Southeast Insurance Group (615) 932 - 5508 www.berkleysig.com 19 Berkshire Hathaway Guard Insurance Cos. (800) 673 - 2465 x4567 www.guard.com/apply 22 Big "I" Hires (800) 221 - 7917 www.bigihires.com 50 Builders Mutual (800) 809 - 4859 www.buildersmutual.com 33 Cowbell Cyber () cowbell.insure/for-agencies 39 Delta Dental of Tennessee () www.deltadentalTN.com 2 ePayPolicy () www.epaypolicy.com 47 Genesee General (800) 282 - 8755 www.geneseeins.com 49 Harford Mutual (800) 638 - 3669 www.harfordmutual.com 45 Imperial PFS (443) 613 - 4820 www.ipfs.com 16 IntellAgents (614) 552 - 3063 intellagents.io 48 INSBANK (866) 866 - 4268 www.insbanktn.com 11 J.M. Wilson (800) 595 - 0063 www.jmwilson.com 17 Keystone Insurers Group (800) 416 - 5498 www.keystoneinsgrp.com 40 KNK Compliance Services (615) 375 - 7419 www.knkcompliance.com 17 Markel Specialty (800) 431 - 1270 www.markelcorp.com 22 Martin & Zerfoss (615) 297 - 8500 www.martinzerfoss.com 12,55 MidSouth Mutual Insurance Company (844) 438 - 6642 www.midsouthmutual.com 26 National Alliance () www.scic.com 15 National Security Group (800) 239 - 2358 x213 www.nationalsecuritygroup.com 26 Nationwide Insurance (423) 927 -2060 www.nationwide.com 20 2/2 CISR Agency Operations • NASHVILLE Penn National Insurance (800) 395 - 0518 www.pennnationalinsurance.com 56 2/3 CISR Agency Operations • MEMPHIS Preferred Property Programs (888) 549 - 2465 www.umbrellaprogram.com 42 2/17-19 CIC Commercial Property • NASHVILLE RLI PUP (615) 515 - 2609 www.insurors.org 46 SecureRisk (770) 723 - 8096 www.securerisk.com 38 Stonetrust Insurance (800) 311 - 0997 www.stonetrustinsurance.com 41 3/10-12 CIC Commercial Multiline • MEMPHIS Strickland General Agency (800) 825 - 5742 www.sgainga.com 33 Summit Holdings (800) 971 - 2667 www.summitholdings.com 13 Swiss Re Lawyer's Professional Liability (630) 213 - 9952 www.swissre.com 36 9/15-17 CIC Commercial Casualty • NASHVILLE Titan Web Marketing Solutions (615) 890 - 3600 www.titanwms.com 24,42 4/6 CISR Personal Residential • JOHNSON CITY 9/28 CISR Commercial Property • JOHNSON CITY West Bend Mutual Insurance Co. (800) 236 - 5010 www.thesilverlining.com 34 PersonalProperty Residential • KNOXVILLE 9/294/7 CISRCISR Commercial • KNOXVILLE 2/2 CISR Agency Operations • NASHVILLE Work at Home Vintage Experts (646) 807 - 4372 www.wahve.com 52 4/8 CISR Personal Residential • CHATTANOOGA

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WATERCRAFT WHO DIDN’T BUY A BOAT THIS YEAR?

With boat sales up 154% over last year, it is important that you offer your clients the best coverage.

We can help.

Martin & Zerfoss gives you access to the coverages and experts your agency needs to protect your affluent clients and the things they love. From pleasure boats to mega yachts and exotic vehicles to high-end collections like wine and art – let M&Z help you protect your clients and grow your agency.

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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