PRODUCT & SERVICE GUIDE 2018
THE TRUSTED CHOICE FOR TENNESSEE AGENTS
PRODUCT & SERVICE GUIDE 2018
2500 21st AVENUE SOUTH, SUITE 200 NASHVILLE, TN 37212 615.385.1898 1.800.264.1898 WWW.INSURORS.ORG twitter @INSURORS Facebook /INSURORS LinkedIn INSURORS OF TENNESSEE Instagram insurorstn INFO@INSURORS.ORG
THE INFORMATION HEREIN IS COPYRIGHT OF INSURORS OF TENNESSEE 2018
MISSION THE MISSION OF INSURORS OF TENNESSEE is to be unrelenting advocates of independent agents and brokers and to fulfill their political, educational and business needs while working in the public’s best interest. The Independent Insurance Agents of Tennessee, Inc., dba Insurors of Tennessee is a trade association of independent insurance agents. It is the oldest and largest insurance association in the state of Tennessee. A LOT OF PEOPLE ASK, “WHAT IS THE INSURORS OF TENNESSEE?” Insurors of Tennessee is a professional association of independent insurance agents. Our purpose is to offer support to these agencies so that they may better serve the public. We accomplish this in several ways, through lobbying efforts, offering insurance and non-insurance products that fill agency needs, providing a continuing education source for agents and making sure agents have the information and resources they need – when they need it – through our publications and research.
CONTENTS STAFF CONTACTS GET INFORMATION ON WHO TO CALL AND HOW WE CAN HELP.
PROFESSIONAL LIABILITY ERRORS & OMISSIONS PROGRAMS AND OTHER PROFESSIONAL LIABILITY PRODUCTS
MARKETS MARKETS AND SPECIALTY PROGRAMS TO HELP YOU PLACE COVERAGES
ENDORSED PROGRAMS PROGRAMS SELECTED BY INSURORS TO BE OF BENEFIT TO YOUR AGENCY
GOVERNMENT AFFAIRS INFORMATION ON OUR EFFORTS TO SERVE YOU THROUGH LOBBYING AND POLITICAL ACTION
EDUCATION DESIGNATION PROGRAMS AND CE SET TO MEET THE EDUCATION NEEDS OF YOUR AGENCY INFORMATION PUBLICATIONS, RESOURCES AND RESEARCH TO KEEP YOU UP-TO-DATE
TRUSTED CHOICE OUR NATIONAL BRANDING PROGRAM TO STRENGTHEN THE INDEPENDENT AGENT BRAND WITH CONSUMERS RESOURCES & MARKETING ADVERTISING, INFORMATION SUPPORT AND SERVICES TO HELP LEVEL THE PLAYING FIELD
EVENTS NETWORKING OPPORTUNITIES TO HELP YOUR AGENCY GROW
STAFF THE STAFF OF INSURORS OF TENNESSEE is made up of a team of professionals that have years of valuable experience in supporting independent insurance agents. CHUCK BIDEK, CPCU, MBA
Chief Executive Officer
615.515.2600 firstname.lastname@example.org Legislative Issues, Agency Management, Forprofit Programs, Industry Issues, E&O, Titans Radio Marketing
ASHLEY GOLD, J.D.
615.515.2606 email@example.com Legal Questions, Legislative Issues, Convention, Workersâ€™ Compensation Questions, Association Management, Operations
DANIEL SMITH, CAE
Director of Communications
615.515.2601 firstname.lastname@example.org Publications, Advertising, Convention/Trade Show, Marketing, PR, Website, Membership, Company Liaison, Young Agents Liaison
Membership Specialist 615.515.2607 email@example.com Continuing Education, Course Registration, RLI Umbrellas, Member Services, Member Database Updates, Membership, Administration
615.515.2603 firstname.lastname@example.org Finance Agreements, Invoicing, Billing and Accounts Payable
STEPHEN HOLMES, CIC, CISR
615.515.2609 email@example.com Errors & Omissions Programs, RLI In-Home Business & Umbrellas
Marketing & Research Coordinator
615.515.2608 firstname.lastname@example.org Membership Updates, Social Media, Research
DON CUNNINGHAM, CIC, CPCU
615.515.2602 615.499.0845 cell email@example.com Agent Liaison, Field Representative, E&O Audits
PROFESSIONAL AT INSURORS WE REALIZE THAT PROTECTING THE FUTURE OF YOUR AGENCY IS A MAJOR PRIORITY. You trust us to represent your interests at the highest political levels and as your association we also want to provide you with the security of knowing you are getting the best overall Errors & Omissions (E&O) value in the marketplace—not just a policy, but a comprehensive program. Westport E&O Coverage For over 40 years, the Big “I” Professional Liability Program underwritten by Westport Insurance Corporation, a member of the Swiss Re Group, has been the premiere choice of IIABA member agents for insurance agents and brokers E&O insurance. The Big “I” Professional Liability Program offers not just a policy, but a comprehensive program for insurance agents. Over the past two decades the Big “I” Professional Liability Program, underwritten by Westport Insurance Corporation, a member of the Swiss Re Group, has grown into the largest and most stable insurance agents E&O program in the nation. While other carriers have come and gone from the E&O marketplace, Westport has remained a strong, reliable partner for Tennessee’s agents. Stability: Swiss Re has remained in the agents E&O market for decades through soft and hard markets. Strength: Rated A+ (Superior) by A.M. Best and offering the strongest coverage form in the market Teamwork: Administered by your association staff offering your agency what you offer your clients, choice and advocacy. Allianz E&O Coverage With more than 25 years of experience, Allianz is an industry leader in providing liability coverage for agents and brokers against E&O. Through their partnership with the Big “I”, Allianz can offer competitive, customized solutions for your agency. Allianz Global Risks is one of the world’s largest property and casualty insurance providers, and Allianz has a solid financial foundation, as they are rated A+ “Superior” by A.M. Best. Policy highlights include coverage for the sale of both P&C and L&H agents, a broad definition of covered professional services and activities, expert witness testimony covered, aggregate deductibles and much more. Additional E&O Markets In instances when an account does not fall within the underwriting guidelines of our standard markets – Swiss Re/Westport or Allianz – we have access to numerous E&S markets through national brokers. Contact Stephen Holmes at firstname.lastname@example.org for more information on any of these Professional Liability products and programs
LIABILITY E&O Happens
RIsk Management Online
Big “I” members whose agency E&O insurance is written by Swiss Re through the Big “I” Professional Liability Program have access to an exclusive risk management website. Log on today to search 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 at www.iiaba.net/EOHappens Commercial Umbrella A commercial umbrella underwritten by Swiss Re (rated A+ by A.M. Best) is now available exclusively to Big “I” members. • • • •
Designed in collaboration with the IIABA to meet the needs of independent insurance agents Broad coverage over primary casualty lines, including E&O Available in Tennessee and nationwide May be written over a variety of E&O carriers
E&O Risk Assessment Program
Insurors Field Representative Don Cunningham, CIC, CPCU is approved by Swiss Re to perform agency E&O audits and provide on-site assessment of E&O liability potential. Previously there were approximately 22 Swiss Re approved auditing firms outside the state of Tennessee. Insurors believes that by offering this service “in house,” exclusively to member agencies, we can be more responsive to their needs and schedules, and provide the service more efficiently than other auditing firms. Swiss Re has also approved E&O liability premium reductions of 10% for five years upon compliance with audit recommendations. Contact Don Cunningham at email@example.com Seminars
Insurors E&O Loss Control
Insurors also offers Loss Control seminars and webinars throughout the year that can qualify your agency for E&O premium credit. Virtual Risk Consultant The Big “I” Advantage® Virtual Risk Consultant powered by Rough Notes (VRC) is an online sales and service resource designed to help your agency better serve your customers. Using this tool will lead to increased sales by improving your staff’s knowledge of a prospect’s operation enabling them to better identify and cover customer exposures. It will also assist agency staff with preparing proposals, explaining complicated insurance terms and most importantly documenting client files. It is truly a tool that will increase the professionalism of staff and help your agency grow while limiting your exposure to E&O claims. Contact Stephen Holmes at firstname.lastname@example.org for info
MARKETS YOU NEED MARKETS. Insurors has the partners to provide them:
B ig “ I ”
Big “I” Markets
Big “I” Markets provides free online access to specialty/niche coverages, program business and hard-to-find markets exclusively for Association members. The program uses proprietary technology to give agents access to coverages, forms and applications. Over 50 product categories are available, including Surety Bonds, Commercial Lessor’s Risk, Vacant Dwelling, Marine Insurance, Affluent Homeowners, Event Liability, Life Insurance, Cyber Liability, EPL, D&O, Habitational Programs and more! Visit www.bigimarkets.com for more information RLI PUPs & Home Business Insurance Personal Umbrella Policies (PUPs) and Home Business Insurance are coverages sometimes overlooked by your clients that could provide extremely valuable protection. Written through RLI and administered by Insurors, the RLI PUP is a stand alone product that does not require the insured to place underlying coverages with RLI. Coverages are available with $1M, $2M, $3M and $5M limits. The RLI Home Business Insurance policy responds to the needs of over 100 eligible business classes on an ISO BOP form. Premiums start at $150, with competitive commissions, easy underwriting and a self-rating application that make this product an easy sell. Contact Stephen Holmes at email@example.com for more info
B ig “ I ”
Big “I” Flood Program
The Big “I” Flood Program is available to all Insurors members and provides access to flood markets for most flood risks. The program offers access to the National Flood Insurance Program (NFIP) for primary flood coverage and excess/surplus flood products for risks that have higher values or are ineligible for the NFIP. Selective Insurance, a NFIP Write-Your-Own company since 1984, has been the Big “I” Flood program partner for the primary NFIP for over 15 years. Contact Tammy Goodman at firstname.lastname@example.org
B ig “I”
Big “I” Eagle Agency
Eagle Agency is an independent agency operated by the Big “I” that allows members access to standard personal lines products. Created exclusively for Big “I” members, it provides access to toprated carriers like Travelers, Progressive and MetLife Auto & Home with low volume commitments and no fees. Contact email@example.com for more information
PROGRAMS INSURORS AND THE BIG “I” HAVE PARTNERED WITH LEADING COMPANIES. Check out what programs your agency can utilize: INSBANK Banking and Finworth Mortgage INSBANK offers banking and loan services to agents and other small businesses throughout the state. INSBANK entity Finworth Mortgage adds residential mortgages to its available products. INSBANK’s leadership and staff are comprised of experienced professionals who are committed to serving their customers. INSBANK is a place where the client’s best interests – not the bank’s – come first. INSBANK - Where Genuine Matters. Visit www.insbanktn.com for more information Titan Web Marketing Solutions Insurors offers an endorsed digital marketing partnership with Titan Web Marketing Solutions. The Murfreesboro-based company provides digital marketing solutions that work for your agency, including website design, social media marketing, search engine optimization (SEO), video production and more. Insurors members are eligible for a 5% discount on Titan services, and current agency websites that are reviewed for the Trusted Choice digital marketing reimbursement program may be eligible for up to $500 in reimbursed spending on website upgrades and improvements. Visit titaninswebsites.com for more information KnK Compliance Services Insurors has partnered with KnK Compliance Services, LLC to help your agency navigate the issues of multi-state licensing and surplus lines tax reporting. Utilizing KnK’s insurance licensing expertise will guarantee your insurance licenses are up-to-date and that your company is in compliance with all the latest state regulations. KnK President and CEO Kimberly Snavely has over 16 years of experience performing surplus lines tax reporting and insurance licensing compliance. Contact firstname.lastname@example.org for more information
With detailed agency profiles, expanded consumer resources and over 400,000 consumer views per month, TrustedChoice.com is unlike any other insurance website – and more new prospects are discovering that difference every month. Prepare or improve your agency’s profile and get consumer leads today. Personal and Commercial Lines leads with over 50 carrier partners are now available. Visit www.trustedchoice.com/for-agents for more information
PROGRAMS Imperial PFS Premium Funding Imperial PFS (IPFS) is endorsed by the Insurors of Tennessee to provide members with a first class premium financing experience. IPFS is the nation’s leading premium finance company, offering the following benefits to agency partners and borrowers: • • • •
Flexible terms & down payments with no volume commitments Financing for most policies as low as $250 Opportunities to earn revenue, where permitted by law Efficient and knowledgeable service from a dedicated Sales Executive and local branch office Web quoting and online account management for you and your clients Flexibility of billing & payment options, including mail, online, payment in agency or at a local Western Union Take control over your premium finance business with one centralized source for all your needs
• • •
Contact Dave Baker at email@example.com for more information DocuSign DocuSign is used to accelerate transaction times to increase speed to results, reduce costs, improve customer service and reduce E&O exposure. DocuSign will help members: • • • •
Increase speed to revenue Reduce costs Improve customer service Reduce E&O exposure
DocuSign also offers exclusive discounted pricing to members. Visit www.docusign.com/iiaba for more information Big “I”
Employee Benefit Programs
The Big “I” Employee Benefits program provides full service group benefits for our member agents. The program is underwritten by The Guardian Life Insurance Company of America, a multi-line insurance group with many years of experience in the business and administered by a dedicated service team just for Big “I” Members. Offering Group Life, Group Short & Long Term Disability, Group Dental and Group Vision, the program offers varying lines of coverage options to meet the diverse needs of our members and also provides guaranteed issue with certain requirements being met. Whether you are a new member or an longtime one, the Big “I” quotes and adds coverage on a continuous basis. Contact Christine Munoz at firstname.lastname@example.org for info Programs for agency enhancement are also available, including Caliper personality testing for recruitment, the Job Boards on insurors.org, the Agility Recovery Disaster program Ready Suite,
PROGRAMS and the Member Marketing Activity Center (MMAC). Visit Member Resources section on www.iiaba.net for more info Work at Home Vintage Experts (WAHVE) WAHVE utilizes an innovative work-at-home model, contracting skilled vintage insurance professionals to help insurance firms have continued access to experienced insurance talent regardless of location and at a cost-savings. Visit www.wahve.com for more information
GOVT. AFFAIRS INSURORS AND THE BIG “I” ARE CONTINUING THE WORK TO ENSURE A POSITIVE POLITICAL CLIMATE IS IN PLACE FOR THE INSURANCE INDUSTRY. Insurors on the state level, and IIABA on the national level, work each legislative session to educate legislators about the independent agency system and how proposed legislation will impact the business environment. Lobbying Insurors has two lobbyists on staff and another under contract that continue our vigilance over laws and regulations that affect the insurance industry. Over the past several years, Insurors’ lobbyists have been able to help progress AND block several key pieces of legislation that could have had a tremendous impact on our industry. In addition to working with our legislators, Insurors closely monitors developments within the Department of Commerce and Insurance as well as the Department of Labor to keep abreast of proposed changes and their potential impact on our industry. Contact Chuck Bidek at email@example.com for more info InsurPACTN InsurPACTN is a registered political action committee focused on providing financial and informational support to candidates and members of the Tennessee General Assembly who believe in a competitive free enterprise system and are dedicated to the promotion and preservation of a competitive insurance climate. Contact Chuck Bidek at firstname.lastname@example.org for more info
InsurPac National, the political action committee of the Big “I” (IIABA), complements our federal legislative program. It is the largest P&C PAC in the country with over $1M in funds raised in 2017. Visit www.iiaba.net for more information
EDUCATION AGENTS IN TENNESSEE NEED CONTINUING EDUCATION (CE) OPPORTUNITIES, AND INSURORS HAS THEM. Your Association is working hard to provide as many current and topical courses as possible. We offer more than 60 traditional classroom CE hours each year, in addition to offering access to online and special requirement courses. Our partnerships with the National Alliance for Insurance Education and Research, the Agents and Brokers Education Network (ABEN) and CEU.com will provide you with the options you need. Certified Insurance Counselor The Certified Insurance Counselors (CIC) Program has been the insurance industry’s premier, proven source for practical, real-world education since 1969. More than 300 CIC institutes are conducted each year in major cities throughout the U.S. and Puerto Rico. Designed to cover important aspects of the insurance field, each institute is 20 instruction hours, followed by an optional exam. Visit www.insurors.org or www.scic.com for more info Certified Insurance Service Representative An inspiring professional faculty, nine ONE-DAY courses, a curriculum that’s tailored to your region - all these features make the CISR Program a truly superior education opportunity. An optional exam is given at the end of each classroom course. Visit www.insurors.org or www.scic.com for more info Certified Risk Manager The Certified Risk Managers (CRM) designation demonstrates that you are knowledgeable in all areas of managing risks, hazards and exposures. Visit www.insurors.org or www.scic.com for more info ABEN ABEN was founded by Big “I” state associations of independent insurance agents, and is dedicated to bringing highly relevant, interactive and professionally produced continuing education programs to independent agents in the most convenient and economical ways possible via online webcasting. Visit insurors.aben.tv for more information CEU.com Quality and convenient online education available anytime and at a 35% discount to Insurors members. Visit insurors.ceu.com for more information
EDUCATION Young Agents Members under 40 and/or with less than 5 years experience are encouraged to get involved in our Young Agents program through meetings, education courses and volunteer programs. Young Agents are the future of our industry and your membership in Insurors gives you an opportunity to prepare them. Contact Daniel Smith at email@example.com for more info Kaplan Prelicensing Insurors member can now receive 30% off on Pre-Licensing and CE courses available through Kaplan Financial. Kaplan offers live and online classes, as well as self-study options and a variety of integrated study tools. Members can visit the Kaplan website and use the discount code INSTN to get a 30% discount on PreLicensing and CE courses. Visit www.kaplanfinancial.com for more information
INFORMATION INSURORS STRIVES TO KEEP ITS MEMBERS AS UP-TO-DATE AS POSSIBLE ON INDUSTRY NEWS AND GOVERNMENT AFFAIRS. That is why we take pride in producing our publications and continuing to bring in new ways to disseminate information.
bulletin YOUR ASSOCIATION NEWSLETTER
Marketplace Update Marketplace Update
2011 Vol. 10, October 28, 2011
Company Filings Made With the TN Department of Commerce & Insurance
november 4, 2011
2011have Vol. 10,approved Octoberor 28, 2011 The following filings been filed by the Tennessee Department of Commerce & Insurance Company Filings Made With the TN Department Companyof Commerce & Insurance Filing
Supreme Court Issues The following filings have been approved or filed by the Tennessee Department of Commerce & Insurance “Bruce’s Torch” Opinion Acadia Reducing WC LCM from 1.169to 1.12 effective 11-1-11. In the lastCompany issue of The Tennessee Insuror, we published a story regarding contractor’s liability. The case was on appeal to Acadia the Tennessee Supreme Court. Last week, the Supreme Court issued its opinion regarding Acuity whether vicarious liability will be imposed on an employer for the negligence of an independent contractor.
Overall 4.0% increase. Acuity Implementing a new rating factor for the Bis-Pak BOP program. The Financial Scorecard Factor is based on the financial criteria and payment Reducing WC LCM from 1.169to 1.12 effective 11-1-11. Overall history4.0% of an account. New rating factor will produced an overall 1.7% increase. increase effective 2-22-12 for NB and 4-15-12 for RB. Implementing a new rating factor for the Bis-Pak BOP program. The Acuity Implementing a new rating factor for GL. The Financial Scorecard Factor is Financial Scorecard Factor is based on the financial criteria and payment based on the financial criteria and payment history of an account. New rating history of an account. New rating factor will produced an overall factor 1.7% will produced an overall 0.3% increase effective 2-22-12 for NB and increase effective 2-22-12 for NB and 4-15-12 for RB. 4-15-12 for RB. Implementing a new rating factor for GL. The Financial Scorecard Factor aisnew rating factor for the commercial property program. The Acuity Implementing based on the financial criteria and payment history of an account. NewScorecard rating Factor is based on the financial criteria and payment Financial factor will produced an overall 0.3% increase effective 2-22-12 for NB history of anand account. New rating factor will produced an overall 0.8% 4-15-12 for RB. decrease effective 2-22-12 for NB and 4-15-12 for RB. Implementing a new rating factor for the commercial property program. AIPSO Filing revisedThe rates for commercial vehicles insured in the Tennessee Financial Scorecard Factor is based on the financial criteria and paymentInsurance Plan (Assigned Risk Plan). Overall 16.0% decrease Automobile history of an account. New rating factor will produced an overall 0.8% effective 4-1-12 for NB and 5-1-12 for RB. decrease effective 2-22-12 forFamily NB and 4-15-12 for RB. American Home Initial filing of rates, rules, and forms for the AquaPac boatowners/personal Filing revised rates for commercial vehicles insured in the Tennessee watercraft program. Effective 11-1-11. Automobile Insurance Plan Specialty (Assigned Risk Plan). Overall 16.0% Atlantic Filing decrease rates, rules and forms for a Design Professionals E&O program. effective 4-1-12 for NB and 5-1-12 for RB. Effective 10-4-11. Initial filing of rates, rules, and forms for the AquaPac boatowners/personal Auto Owners Filing revised rates and rules for dwelling fire that produces an overall 15.0% watercraft program. Effective 11-1-11. increase effective 11-18-11 for NB and 12-24-11 for RB. Filing rates, rules and forms for a Design Professionals E&ORevising program.rates and rules for the Garage Liability/Dealer’s Blanket program so Auto Owners Effective 10-4-11. that a 3.0% increase is produced effective 10-14-11 for NB and 12-13-11 Filing revised rates and rules for dwelling fire that produces for an overall RB. 15.0% increase effective 11-18-11 for NB and 12-24-11 for RB. Filing revised rates and rules for personal farmowners so that an overall Auto Owners Revising rates and rules for the Garage Liability/Dealer’s Blanket program so is produced effective 12-15-11 for NB and 1-20-12 for RB. increase of 22.0% that a 3.0% increaseCapitol is produced effective 10-14-11 for NB and 12-13-11 Indemnity Filing a firearms and weapons exclusion for use with GL. As ususal no rate for RB. credit is given. Effective 12-1-11 for NB and 2-1-12 for RB. Filing revised ratesCharter and rules for personal farmowners so thatRevising an overall Oak territorial modification factors for commercial farm and ranch increase of 22.0% is produced effective 12-15-11 for NB andprogram 1-20-12soforthat RB. an overall 9.0% increase is produced effective 1-1-12. Companion P&C Initial filing of GL LCM of 1.60 off ISO 2010 loss cost. Will be used only Filing a firearms and weapons exclusion for use with GL. As ususal no rate credit is given. Effective 12-1-11 for NB and 2-1-12 for RB.for class 99793 Truckers effective 11-1-11. P&C commercial auto LCMs off ISO 2005 loss cost. For class codes 4159, Revising territorialCompanion modification factors for commercial farmFiling and ranch 4189, 4259, 4289, 5851, 5881 the liability LCM will be 1.595 and 1.782 for program so that an overall 9.0% increase is produced effective 1-1-12. physical Initial filing of GL LCM of 1.60 off ISO 2010 loss cost. Will be useddamage. only For all other class codes the liability LCM will be 1.45 and 1.62 for physical damage. Overall 0.8% increase effective 12-1-11. for class 99793 Truckers effective 11-1-11. Adding optional Filing commercial Consumers auto LCMs off ISO 2005 loss cost. For class codes 4159, Roadside Assistance for business auto and for Auto Dealer program adding 4189, 4259, 4289, 5851, 5881 the liability LCM will be 1.595 and 1.782 for an unlimited radius of operation factor. Effective 12-15-12. Continental WCand LCM from 1.647 to 1.578 effective 11-1-11. Overall 2.9% physical damage. For all other Western class codes the liability LCMReducing will be 1.45 increase. 1.62 for physical damage. Overall 0.8% increase effective 12-1-11. Adding optional Roadside Assistance for business auto and for Auto Dealer program adding an unlimited radius of operation factor. Effective 12-15-12. 1 of 4 Reducing WC LCM from 1.647 effective 11-1-11. 2.9% Copyright 2011 byto the1.578 Independent Insurance Agents Overall of Tennessee, Inc. For Members Only. increase.
Insurors publishes three main periodicals for its members. The bi-weekly Insurors Bulletin, the monthly Tennessee Marketplace Update and the bi-monthly Tennessee Insuror are produced by Association staff for members only. Each contains relevant information on topics like Agency Management, Rate Filings, Company Ratings, Government Affairs, Legal Issues and Events. Our distribution list includes over 4,000 insurance professionals doing business in Tennessee. Each is available in both digital and print formats, and archives of the issues are stored in the members only section of our website. WC Loss Cost Approved; Plan LCM to Increase On Monday, October 31st the Tennessee Department of Commerce and Insurance announced that the NCCI filing for a loss cost increase of 1.6% was being modified by the Department, and that a loss cost filing for both the voluntary and assigned risk plan of 0.4% would be approved. Department Commissioner Julie Mix McPeak also notified the Tennessee Workers’ Compensation Advisory Council (WCAC) that she intends to raise the assigned risk plan loss cost multiplier (LCM) from 1.55 to 1.67.
Both changes will be effective March 1, 2012 for new and renewal business. Neither of these changes will effect policies currently in force.
The Commissioner stated in her notice to the WCAC that her decision to raise the LCM was partially based on the fact that plan premium volume has fallen to the lowest level it has been since the year 2000. The following chart illustrates the drastic changes in premium volume since 1998.
Insurors of Tennessee Web: www.insurors.org Ph: 615.385.1898 or 800.264.1898 Fx: 615.385.9303 E-mail: firstname.lastname@example.org
TWCIP Plan Premiums
Year 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Written Premium $23,188,304 $20,441,815 $34,755,823 $68,615,355 $115,845,825 $131,882,587 $137,460,236 $115,340,080 $89,923,835 $62,780,728 $42,257,079 $34,525,193 $32,899,463
She also estimated the cost of providing plan services and the level of multipliers in the voluntary market.
The revised loss cost reflecting the increase of 0.4% are not yet available. We will post them on our website and notify readers as soon as they are available.
In a traditional Acuitysituation, each party to a tort case is only responsible for his, her or its conduct. The main exception to this rule is the concept of vicarious liability, which recognizes Acuity that those who employ others to carry on their business are responsible for the negligent acts and omissions of such employees. In this way, the cost of negligence is passed to those who AIPSO profit from the activity being engaged in at the time of the negligent act. Employers then have financial incentive to carefully Family Home hire, trainAmerican and supervise employees.
Atlantic Specialty Traditionally, however, independent contractors are not considered employees, and Tennessee Courts have generally Auto Owners held that one who employs an independent contractor is not liable for the negliAuto Owners gence of that contractor. In Federal Insurance Company v. WinAuto Owners ters, the insureds hired the defendant roofing contractor to replace the roof on Capitol their home, and theIndemnity defendant represented that he had liability insurance. Without Charter Oak the insureds’ knowledge, the defendant
CIC • RUBLE GRADUATE
continued on page 4
Companion P&C Companion P&C
Graduate to the next level in insurance education. November 16-18 • Nashville http://www.insurors.org
© 2011 Insurors of Tennessee. All rights reserved. For Members Only.
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Copyright 2011 by the Independent Insurance Agents of Tennessee, Inc. For Members Only.
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Contact Daniel Smith at email@example.com for more info Website The Insurors website contains a plethora of information, articles, files and other resources. From workers’ comp data, loss-cost multipliers, monthly company listings, agency management resources, product information, CE schedules, job listings registration and so much more. If you have never researched what is available on the site, take a few minutes and check it out. Visit www.insurors.org for more information
TRUSTED CHOICE THE POWER OF THE INDEPENDENT AGENCY SYSTEM, COMBINED INTO ONE FOCUS. Over 60 companies, and more than 20,000 independent insurance agencies across the country are now part of the Trusted Choice® Brand. The Trusted Choice® Brand Branding is the relationship between a consumer and a product, service or company. Research conducted by the Big “I” found that consumers had trouble identifying independent agents and understanding their role in the distribution channel. Using Trusted Choice®, you can brand your agency in the minds of your current and future customers as the smart choice for insurance services. National media advertising, customizable media for your agency and branding support is available at no additional cost as an Insurors member. In order to deliver the brand experience to your customers consistent with Trusted Choice, Trusted Choice will reimburse a portion of expenses incurred in 2018 by Trusted Choice agencies in cobranding advertising and marketing materials; and in creating or updating a digital presence to include the Trusted Choice logo, link to the Trusted Choice website and Pledge of Performance. Up to $1,250 in reimbursements are available. Visit www.trustedchoice.com/agents for more information
RESOURCES YOU NEED RESOURCES THAT GIVE YOUR AGENCY AN ADVANTAGE. The Big “I” has developed programs to meet these needs. Big I
Big I Advantage Non-Insurance Programs
Membership in the Association also provides you discounts on great products and services for your agency. For example, you can receive discounts from Mines Press for printing, special discounts with UPS, Brooks Brothers Corporate Program discounts, hotel discounts at several Nashville-area hotels, the Big “I” logo store and more! Visit independentagent.com/products for more information Agents Council for Technology & Virtual Univ. The Big “I” Agents Council for Technology (ACT) and Virtual University develop resources for agents on a variety of issues. ACT works at the forefront of industry technology issues including cybersecurity, integration, blockchain and carrier-agency data. The Virtual University brings together industry technical experts to answer questions, develop content and provide educational resources including whitepapers and webinars. Visit independentagent.com for more information
MARKETING INSURORS KNOWS YOU DON’T HAVE A MILLION DOLLAR MARKETING BUDGET. That’s why we have worked to create some affordable alternatives for our member agents. Titans Radio The Titans Radio Network program allows Insurors members exclusive access to Mike Keith, Titans play-by-play announcer, to produce professional, top quality radio advertisements. Personal appearances are available subject to schedule and availability. Mike will produce four 30 to 60 second ads using either copy you supply or copy he will work with you to create. These radio spots can then be used for 2 years on any station(s) and times that you purchase separately. Cost for production of the ads is only $250. Contact Chuck Bidek at firstname.lastname@example.org for more info
EVENTS NETWORKING, EXCHANGING IDEAS AND MAKING NEW CONNECTIONS. Insurance is a relationship business, and Insurors hosts events to make and strengthen those relationships. Annual Convention The Insurors 125th Anniversary Convention will be held October 27-30, 2018 at the Omni Hotel in downtown Nashville. The event will offer one of the largest industry trade shows in the country, special guest speakers, seminars & breakout sessions, a golf tournament, awards ceremonies, receptions along with great special guest entertainment and some unique local activities. Don’t miss out on this great opportunity to network with your peers and company partners. Visit the convention section of www.insurors.org for more info AGENCY GROWTH CONFERENCE 18
Agency Growth Conference
Our 2018 Agency Growth Conference will take place March 21-22 at the Embassy Suites Conf. Center in Murfreesboro. This event is focused on learning and networking opportunities that will increase your agency’s business, streamline workflows and help you plan for the future. Breakout seminars and a trade show will focus on small agencies, rural agencies, growing agencies and young agents. Visit www.insurors.org for more information Local Boards Insurors is affiliated with local boards in Chattanooga, Knoxville, Memphis, Nashville, Tri-Cities and Northwest Tennessee that hold events, golf tournaments and meetings throughout the year. Contact Daniel Smith at email@example.com for more info
INDEX ABEN 10 Agency Growth Conference 13 Agents & Brokers Ed. Net. 10 Agents Council for Tech (ACT) 12 Advertising 12-13 Agility Recovery Services 8 Allianz 4 Annual Convention 13 Audits 5 Banking Services 7 Big “I” Eagle Agency 7 Big “I” Flood 7 Big “I” Markets 6 Branding 12 Brooks Brothers 8 Bulletin 11 Caliper 8 CE 10 CE Schedules 10 Certified Ins. Counselor 10 Certified Ins. Service Rep. 10 Certified Risk Manager 10 CEU.com 10 CIC 10 CISR 10 CISR Online 10 CRM 10 Commercial Umbrella 5 Company Listings 11 Conference 13 Convention 13 Data 11 Department of Insurance 9 Design 13 Digital Marketing 7-8 Discounts 6 DocuSign 8 Education 10 Electronic Signature 8 Employee Benefits 8 Errors & Omissions 4 E&O 4 E&O Audits 5 Excess & Surplus Lines 6 Events 13 Exhibits 13 Filings 11 Financial Planning 7 Financing 8 Finworth Mortgage 7 Flood 7 Golf 13 Government Affairs 9 Growth Conference 13 Home Business insurance 6 Homeowners 8 Hotel Discounts 8 IIABA 9 Imperial PFS 8 INSBANK 7 Insurance Agent Umbrella 5 Insurance Agent E&O 5 Insurance Agent PUP 5
Insuror magazine 11 InsurPac 9 InsurPACTN 9 Job postings 8 Kaplan 11 KnK Compliance 7 Legislature 9 Liability coverage 4-5 Local Boards 13 Lobbying 9 Loss Control Seminars 5 Loss Cost Multipliers 11 Marketplace Update 11 MMAC 9 Marketing 13 Media 12 MetLife 7 Meetings 13 Mike Keith 13 Mortgages 7 Networking 13 Niche Coverages 6 Online courses 10 PAC 9 Personal Umbrella 6 Pledge of Performance 12 PUP 6 Prelicensing 11 Premium Finance 8 Professional Liability 4-5 Progressive 7 Promotional products 13 Publications 11 Radio 13 Rate filings 11 Reimbursements 13 Rental car discounts 8 Research 11 Retirement Benefits 8 Risk Assessment 5 Risk Management Online 5 RLI 6 Selective 7 Shipping 6 Staffing 7 Swiss Re 4 The Tennessee Insuror 11 Titan Web Marketing 7 Titans Radio 13 Travelers 7 Trusted Choice 12 TrustedChoice.com 7 Umbrella 8 UPS 12 Virtual Risk Consultant 5 Virtual University 12 WAHVE 7 Webcasts 10 Webinars 10 Website 11 Westport 4 Work Comp Data 11 Young Agents 10
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A guide to the Products and Services offered by Insurors of Tennessee for independent insurance agents.