March/April 2013 Suffolk Big Eye

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SUFFOLK Big Eye INDEPENDENT INSURANCE AGENTS & BROKERS OF SUFFOLK COUNTY

DON’T MISS OUR INSTALLATION DINNER MAY 22, 2013 INSIDE: Presidents Message.

Hurricane Sandy recap of Meeting with Robert Hartwig CE Classes on Long Island.

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President’s Message President

David M. Borg nnn

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Premium Increases.. An Opportunity or a Burden..?

How many times have we had to explain to business clients and individual policyholders alike that their premium is going up? When I started in this industry many years ago, the “great debate� over premium pricing was underwriting loss versus investment income. Many company executives were disciplined enough to not let underwriting losses get ahead of the investment portfolios held by their companies. I am sure that no company executive intentionally went after market share by reducing premiums beyond the walk away price. Regardless of the situation, circumstance or bad luck there are many companies that litter the industry graveyard.

Today we have a very different picture. Investment portfolios are yielding very small returns and maturing bond portfolios that generated high yields are being replaced by those providing even lower yields. So Underwriting profitability is as paramount today as it has ever been.

PRO N e t w o r k S e c u r i t y & P r i va c y In a privacy conscious society, any company may be harmed with a breach of confidential information. Network Security & Privacy Insurance (Cyber-Liability) is available through NIF Pro and will protect your client from this growing exposure.

Coverage Components Coverage for third party claims arising out of a breach of the insured’s network security or other private information.

Coverage for defense cost and fines/penalties for violations of privacy regulations (HIPAA, Red Flag Rules, Hi-Tech Act).

Multi-media coverage for both on-line and off-line media including claims alleging copyright/trademark infringement and personal injury.

Privacy breach response costs, customer notification expenses, customer support and credit monitoring expenses. Included are all reasonable legal, public relations, advertising, IT forensic, call center, credit monitoring and postage expenses incurred by the Insured for privacy breach response.

Coverage for all reasonable and necessary sums required to recover and/or replace data that is compromised, damaged, lost, erased or corrupted. Coverage also includes business interruption and extra expense coverage for income loss as a result of total or partial interruption of an insured’s computer system.

Extortion expenses and extortion monies as a direct result of a cyber extortion threat.

On certain classes of business, coverage can be combined with the professional liability insurance.

Classes All Industries Including: Manufacturers, Retailers, Schools, Accountants, Law Firms, Financial Services, Insurance Agents & Brokers, Restaurants, Unions, Municipalities, Technology Companies, Supermarkets and Auto Dealers.

Contact NIF Pro today to learn more about our services Deborah Dioguardi ddioguardi@nifgroup.com 1(800) 892-8892

Daniel Verdirame dverdirame@nifgroup.com 1(800) 892-8892

NIF Pro - 30 Park Avenue, Manhasset, NY 11030 | 1(800) 892-8892 3

The Independent Insurance Agents & Brokers of Suffolk County, Inc. Reserve Now for our Annual Installation Dinner on Wednesday - May 22, 2013 at

East Wind Conference Center 5720 Route 25A Wading River NY 11792 Join your friends and associates for a very special evening!

Welcome in the new IIABSC Board of Directors!

Time: Cocktail Reception - 6:00 pm Dinner & Brief Program - 7:00 pm Choice of Entree - Open Bar Cost: $70.00 Per Person Tables of 8 = $520, Tables of 9 = $585, Tables of 10 = $650 If Registering On Our Website, Please Email Names At Tables To Jeanne Abatelli at injeanious1@mac.com Reservations Are Required And Must Be In By May 15th Register on-line or fill out this form then mail it!

To register on-line. Go to our web site: www.suffolkagents.com Find ‘“Meetings & Events” on the home page and ‘“Installation Registration” To register by mail: Complete this form Reservation for May 22, 2013 (use separate sheet for added names) Name(s)_______________________________ _____________________________________________ Business Name: _________________________________Phone: __________________________________ Email: _________________________________________ Fax: __________________________________ Please make check payable to: IIABSC and mail with this form to: Jeanne Abatelli * 150 Dartmouth Dr. * Hicksville, NY 11801 For Sponsor Information Contact: Jeanne Abatelli 516-681-6265 E-mail: injeanious1@optimum.net 4

the President’s Message cont’d

All off this brings me back to my opening statement. In order to have a vibrant and robust industry that can and will be around to pay claims the likes of Super Storm Sandy, and other such catastrophes around the world, premiums have to be adequate enough to do just that.

This is where we as independent agents should shine. By being able to explain and educate, we are providing a service that goes beyond just being an order taker. It is more imperative now than ever before to provide the added value that independent agents are known for. It is what separates us from the other forms of distribution. Are you doing enough to give your client that warm and fuzzy feeling? Have you explained that new exposures like cyber liability and employment practices liability are just as much and in some cases even more so a threat to your clients’ business future.

These are exciting times. The challenges we all face will give us the fortitude to keep moving forward. Those of us that can and will take advantage of opportunities will thrive and grow. Those of us that can’t or won’t… well… let’s hope that none of you reading this article will ever be in that situation.

David M Borg CPCU, ARM, CIC, CRM President

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Q.

Can You Have Fun and Earn CE Credit While You Do It?

Limited Seating - Register Early!

Please send form with payment to Monica Rayder st c/o IIABNY, 5784 Widewaters Pkwy, 1 Floor, Dewitt, NY 13214 or fax to 888-432-0510 Name: _____________________________________________________________________________

The Original Social Network

NYS License Number(s) _______________________________________________________________ Company: __________________________________________________________________________ Address: ___________________________________________________________________________

Next Gens are your chance to grow your network in the insurance industry the “old fashioned” way.

E-mail: _________________________ Phone: ______________________ Fax: __________________

Come out, connect with your peers, and build relationships while having a great time!

Authorized Signature ______ ___________________________________________________________

Payment Method Check (made payable to IIABNY, Inc.) American Express MasterCard Visa

Amount of check: $________________________ Amount of charge: $ _______________________

Card #____________________________________________ Expiration Date: ___________________ Name on Card (please print) ___________________________________________________________

CANCELLATION POLICY: Full credit will be allowed for cancellation requests received at least 3 business days before the event. Any cancellation request received less than 3 business days prior to the event will receive a 50% credit. Cancellation requests received on or after the date of the event will NOT be eligible for credit. ALL CANCELLATION REQUESTS MUST BE IN WRITING~ NO EXCEPTIONS!

6 Months Later: Agents Tell Tales of Sandy

by Mark E. Ruquet, PropertyCasualty360 Kevin R. Crossley (pictured left), vice president, AAA New York Insurance Services, Inc., in Garden City, Long Island, N.Y., says he lives in Long Beach, N.Y., and, like many people living on the barrier island, made the necessary preparations for wind and water, such as placing his furniture up as high as possible out of harm’s way.

Kevin Crossley nnn

Unlike some of his neighbors, he decided not to ride-out the storm. He opted to stay in a hotel close to his Garden City office, which has a more central location in Long Island’s Nassau County.

“It was a good thing we did that because once the airport was closed all the pilots and flight attendants filled the hotels; there was not a room to be found,” says Crossley.

Eighteen miles south of Garden City, his neighbors dealt with Sandy’s tidal surge coursing through their homes; many lost their vehicles. Fortunately, as quickly as the water came in, it receded.

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Right: A damaged car after Superstorm Sandy swept through Long Beach, N.Y. (Credit:FEMA photograph/Andrea Booher).

The AAA office building had a back-up generator, but the building never lost power. For some, the office became a safe haven while they waited for heat and electricity to return to their homes.

Crossley spent four days in the hotel before finding other accommodations. It would be a week before he and other residents could get back to their homes to assess the damage.

“My home, I was fortunate. I was elevated just enough,” says Crossley. He was out of his home for seven weeks. The storm knocked out his boiler, hot water heater, washer and dryer; the water stopped just before reaching the first floor.

For him, the experience was an inconvenience, primarily because there was little to do until the electricity came back. Hampering progress was the fear of an electrical fire after one home burned down from wet electrical wires under the house.

Five months later, most people are back in their homes, he says, and with spring here “you kind of put this behind you.”

He says the insurers AAA deals with stepped in where needed and offered a lot of support.

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“We saw some very generous payments on claims,” he says. “It helps strengthen our policyholder’s relationship. They remember the service you provide them and in the future, when an increase comes along, they will be willing to accept it.”

Left: Damage around Long Beach, N.Y. after Superstorm Sandy (Credit:FEMA photograph/Andrea Booher).

One of the takeaway lessons from Sandy, Crossley says, is that individuals who thought they were prepared found out they were not. The major lesson: when there is a mandatory evacuation, get out.

For carriers, he believes the volume of claims took them by surprise and they will improve.

“We better be more prepared for events like this,” says Crossley. “We are seeing too many odd events now. We are not going to be [shut] down again without the right preparations.”

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Board of Directors VICE PRESIDENT

TREASURER

SECRETARY

JOANNE BENTIVEGNA,

PAULETTE KATZ, CIC

JOHN V. STYPE, CIC

IMMEDIATE PAST PRESIDENT EARL EATON

CIC, CRM

Directors DAVID H. BORG, CISR dhborg@borgborg.com

ERIC KEIFFERT, CPCU ekeiffert@hometowninsurance.com

RICHARD DE LA SOTA, CPCU rdelasota@mrwgroup.com

MICHAEL J. ROMEO LL, CIC mjromeo@industrialcoverage.com

JOHN J. GLENNON john@glennoninsurance.com

LAURA SENN, CIC laura.senn@peoples.com

JOSEPH A. GUNDERMANN, AAI jgundermann@gundermann.com

AARON STEIN, CPCU, CFP aaron@nortonsiegel.com

Publication Staff EDITOR: Don Hester PRODUCER: Aaron Stein NEWSLETTER COMMITTEE: Aaron Stein, Joanne Bentivegna, David H. Borg, Pat Calvert Eric Keiffert and Jeanne Abatelli.

AD SALES/SPONSORSHIPS: Jeanne Abatelli - info@suffolkagents.com

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Hurricane Sandy: A Progress Report and Look Into the Future of the P/C Insurance Industry

by Eric Keiffert

On March 14, 2013, IIABNY-Suffolk County and Tri-County hosted a discussion with Dr. Robert Hartwig, CPCU. Dr. Hartwig is the President of the Insurance Information Institute.

Hurricane Sandy was the 3rd costliest hurricane in US insurance history with approximately $20 Billion in claims. Approximately $10 Billion were for New York State making it the second costliest event in the state after the 9/11 terrorist attack.

Of the 1.52 million insurance claims, 60-65% were commercial and 35-40% were personal lines with the following average claims payments:

Home:

$ 6,558

Auto:

$10,894

NFP-Flood

$43,056

Commercial:

$44,563

It was noted that most of the uninsured claims were due to flood damage. Approximately 2/3 of homeowners that were affected by flooding did not have flood coverage.

Although the media and State government were critical of the insurance industry’s response to the storm, of the 500,000 claims in New York State, less than 1% of consumer complaints were reported.

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Hurricane Sandy: A Progress Report and Look Into the Future of the P/C Insurance Industry con’t

Data is still being collected that will determine what is going to be the final outcome to this catastrophic event and how it will affect the market place in the future.

For more detail on this seminar, Dr. Hartwig’s presentation can be viewed at www.iii.org/presentations

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March 14th Meeting

Bob Hartwig addressing a rapt

Robert Mackoul & Steve Sternberg 14

Rich de la Sota, Joanne Bentivegna, Bob Hartwig, Dick Poppa, Tom Crowley and Steve Visco

Steve Folan & Randi Roaen of Folan Agency with Lori Felice & Risa Kluger of SERVPRO of Port Jefferson

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Rob Rivera & Anthony Manna of NIF Group with Peter Dragone of Ocean Harbor/Complex Coverage

Steve Visco, TriCounty president and Brandon Conway, IIABNY’s Marketing representative flank Dennis Lombardi of Total Restoration, winner

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the Editor’s Feedback

by Don J. Hester

Editor

Don Hester nnn

Why are we agents always depicted as the bad guys? FEMA claims are denied for decks, outbuildings, contents in the basement, etc.. What control do we have? It is the insurance policy contract? Claims adjusters from Texas and Kansas are paying $110 a square foot to replace and repair a home when the Long Island contractor wants $200 a square foot. Who establishes the cost of repair in our region? The federal government establishes the cost of living in our region so federal employees working here get their wages adjusted. What about establishing area construction costs for repair or replacement of items typically damaged in a Cat storm?

For example, what does a square foot of shingles cost? How much for a plastic privacy fence, a wooden stockade fence and post? . What’s the cost for sheetrock for a given square foot area and painting it? With guidelines like this, both contractors and adjusters would have a base line understanding for settling claims. This would also benefit tax payers - our policy holders. It would point out possible price gouging and also prevent

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VANE Excess and Surplus, Inc. Specializing in the following lines:    

Directors and Officers Liability Employment Practices Liability Professional Liability Cyber Liability Contact: Anthony Cacioppo (631) 366-5353 Anthony@VANEIns.com VANE Excess and Surplus, Inc. 103 Fort Salonga Road, Suite 4 Northport, NY 11768

Note your calendar now to attend this big event. ********************************** INDEPENDENT INSURANCE AGENTS AND BROKERS OF SUFFOLK COUNTY Annual Installation Dinner will take place on WEDNESDAY, May 22, 2013 At the East Winds Conference Center Wading River, NY

the Editor’s Feedback con’t some of the wild variations we are seeing with Sandy claims’ offerings. The insurance department does this for auto for the benefit of our clients, why not home owners?

Who do we appeal to for flood reforms? FEMA doesn’t know. Would it be our legislators? Are you, our members, going to the National Legislative Conference in DC next month to help lobby? It’s not too late to register. Why shouldn’t flood carriers use the same replacement cost coverage factors for flood policies that they use for homeowners ?

At our membership meeting in Suffolk County on March 1st (‘Lessons Learned From Sandy’) there were a number of other points made by our panelists, which consisted of claims managers of two major flood carriers and two FEMA representatives. There were more than 60 attendees at this meeting. In the Q&A portion, several agents mentioned problems with availability of adjusters, housing for them and displaced persons filling area hotels which made local access difficult during the post Sandy period. Gas shortages also made problems for adjusters who were commuting daily from distances to get to claimants.

The adjustment services assigning adjusters didn’t assign them to clusters of claimants in the same town or even county. but instead had them traveling to three or four claimants located wide apart . They were spending more time traveling than adjusting.

FEMA gave confirmation that a “final settlement” typed on a claims check really is not “final” if additional damages are discovered.

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the Editor’s Feedback con’t

While remapping and changes to zones may be grandfathered for FEMA policies, agents are cautioned to be aware that their privately written flood policies with separate carriers may simply void coverage. In other words, a change in zone or elevation requirement could invalidate coverage. Be sure to check with your carrier if you have written excess or non-FEMA policies as those carriers may not grandfather zone and elevation changes

The members attending this meeting realized that a technical-training breakfast for our CSR’s would be very useful. Look for one soon….. Another benefit to our member Big “I” agencies.

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March 1st Breakfast Meeting on Flood

Bob Haraksin of Selective Insurance Flood answering a questions

Rich de la Soto speaking to Crystal Tramunti of FEMA

Don Hester our meeting moderator

Christopher Nixon VP of Property Claims at Travelers with Joseph Caligiuri of Lighthouse Specialty Brokers, Inc.

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March 1st Breakfast Meeting on Flood

Jim Sutton, Jeffery St. John, David Borg, Don Hester, Lisa Lounsbury, Brandon Conway, Kathy Lawler, Julie MacConnell, Joanne Bentivegna

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INDEPENDENT INSURANCE AGENTS AND BROKERS OF SUFFOLK COUNTY

ANNUAL GOLF OUTING will take place on

MONDAY, June 24, 2013 At the Beautiful Port Jefferson Country Club at Harbor Hills! ***************************************************

Event Schedule: 11:00 am - Registration and Lunch 1:00 pm – Shotgun Tee-Off - ‘Best Ball’ 6:00 pm Cocktails, Buffet Dinner, (Including Deluxe Seafood) & Prizes.

Caterer: Lombardi’s On the Sound

Golf, Cocktails & Buffet Dinner - $295.00 per person Cocktails and Buffet Dinner only -$95.00 per person Golf Includes: greens fees (18 holes), electric cart, lunch, cocktails, open bar all evening and a buffet dinner including deluxe seafood.

Prizes include winners of longest drive, hole-in-one, and nearest the pin. Numerous prize drawings throughout the evening. Proper golf attire required. Metal golf spikes not permitted.

Reservations on a ‘first come’ basis & must include your credit card or check payable to IIABSC Golf. 48hour cancellation notice to receive refund.

Register On Line @ www.suffolkagents.com / Click on ‘Meetings & Events’ .............................................................……………………………......................................................

Mail In Registration: I am enclosing a check in the amount of $ ________________ for ______players, payable to IIABSC. Name: __________________________________Company: ______________________________________________ Additional Names: ________________________________________________________________________________ Tel: ___________________________________Email _________________________________________________

PLEASE SEND TO:

Joseph Gundermann Gundermann & Gundermann Insurance 175 West Carver Street, Huntington, NY 11743 Any questions, call Joe at 631-271-0600 ext 204 or Email: jgundermann@gundermann.com or Jeanne at 516-681-6265 or Email: injeanious1@mac.com

INDEPENDENT INSURANCE AGENTS & BROKERS OF SUFFOLK COUNTY

ANNUAL GOLF OUTING will take place on

MONDAY, June 24, 2013 At the Beautiful Port Jefferson Country Club at Harbor Hills!

SPONSORSHIP OPPORTUNITIES *************************************************** FREE GOLF “TEE” SPONSORSHIP WITH THE PURCHASE OF ANY SPONSORSHIP OVER $300.00 !

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___ EVENT PACKAGE SPONSORSHIP - $2500.00

Includes: Cocktail & Dinner Sponsorship, Golf Hole Sponsorship, a full day of golf for a foursome including dinner. An Event Table during cocktails and dinner to distribute promotional materials, and speak with attendees about your program.

___ SPECIAL PACKAGE SPONSORSHIP - $750.00 Includes: Cocktail & Dinner Sponsorship, Golf Hole Sponsorship + a full day of golf for one person including dinner. Value $940.00 (a 20% discount!)

___ HOLE-IN-ONE SPONSORS - SOLD (A special sign will be prominently displayed at the hole)

___ COCKTAIL & DINNER SPONSORS - $395.00 each!!

___ BEVERAGE STATIONS - $350.00 each

Sponsors will be listed on a sign displayed during cocktails and the buffet

A sign will be displayed at the beverage station all day Add $60 for dinner for one individual at each station

___ GRAND PRIZE SPONSOR - $375.00 (1 only) !

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Your photo with the Grand Prize winner will be in ‘SUFFOLK BIG EYE’ (Includes sign)

___ NEAREST THE PIN SPONSORS - $350.00 each!

Your name will appear on a sign at the putting green.

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___ DRIVING RANGE SPONSORS - $375.00 each A special sign will be displayed at the driving range

___ GOLF “TEE” SPONSORS - $250.00 each Your name will appear on an individual sign posted at tee

____ LUNCH SPONSORS- $325.00 each Your name will appear on a sign as a lunch sponsor.

DOOR PRIZES (including golf balls for the players) Even if you choose not to sponsor, we would appreciate a gift.

Add your name or business card to the prize for acknowledgement.

Select a sponsorship & send below contract with your check payable to IIABSC Golf to: Jeanne Abatelli * 150 Dartmouth Drive * Hicksville, NY 11801 Contact Jeanne Abatelli @ 516-681-6265 or injeanious1@mac.com

.............................................................……………………………......................................................

I am enclosing a check for $ ________________ for the ______________________________________sponsorship.

Your name: _____________________________Company: ______________________________________________ Address: ______________________________________________________________________________________ Tel: ___________________________________Fax: ______________________ Email _______________________

THIS FORM DOES NOT INCLUDE YOUR GOLF OR DINNER RESERVATION!!

Make Reservations for Golf and Dinner online at www.suffolkagents.com or Joe Gundermann - Phone: 631-271-0600 or Email: jgundermann@gundermann.com

Pryor Personnel Agency Inc. The Insurance Specialist since 1970 local, National and International Recruitment www.ppryor.com ppryor1578@aol.com

Governor Cuomo Announces DFS Investigation Identifies Banks With Worst Sandy Aid Statistics On Average, the ‘Bottom Ten’ Banks Are Holding Back Nearly Half of the Sandy Insurance Funds They Have Received, Well Above Industry-wide Average of 17 Percent ‘Bottom Ten’ Banks Are Holding Back Millions in Sandy Insurance Aid for Affected Homeowners Governor Andrew M. Cuomo today announced that the Department of Financial Services (DFS) has identified the ‘bottom ten’ banks with the worst statistics relating to the payout of insurance claims to Superstorm Sandy victims and has notified them to speed up the disbursement of those funds to affected homeowners.

“The State has worked hard to cut red tape for homeowners affected by Superstorm Sandy so they can get the relief they need to rebuild and recover as quickly as possible,” said Governor Cuomo. “While we won’t be satisfied until every single victim gets every single dollar to which they’re entitled, some banks have continued to lag especially far behind the rest and it’s well past time for them to pick up the pace.”

Benjamin M. Lawsky, Superintendent of Financial Services, said, “The poorest performing banks are lagging well behind the leaders and are holding back millions in badly needed Sandy aid. Homeowners deserve much better treatment from their banks and we will keep fighting to make sure these funds get released to speed the recovery.”

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Governor Cuomo Announces DFS Investigation Identifies Banks With Worst Sandy Aid Statistics con’t An investigation by the New York State Department of Financial Services (DFS) – which reviewed 33 of the nation’s largest banks and mortgage servicers – found that: · On average, the ‘bottom ten’ banks are holding back nearly half (44 percent) of the Sandy insurance claims they have received – well above the industrywide average of 17 percent. · Those ‘bottom ten’ banks are currently holding back 1,109 checks for Sandy insurance claims totaling nearly $41 million. · One member of the ‘bottom ten,’ Selene Finance, is still holding back nearly three-quarters (71 percent) of the Sandy insurance funds that it has received.

No bank in the bottom ten is holding back less than 38 percent of the Sandy insurance funds it has received.

DFS’ review showed that three of the nation’s largest banks – CitiMortgage, JPMorgan Chase, and Bank of America – are now holding an average of only 11 percent of the insurance proceeds that they have received. In other words, those three banks have disbursed more than 89 cents of every dollar they’ve received. Six banks and servicers have now disbursed more than 90 cents of every dollar they received. In total, the banks that DFS reviewed have paid out more than $1.1 billion in Sandy insurance claims for homeowners.

Many Superstorm Sandy victims receiving insurance claim checks are facing a hurdle that they often hadn’t anticipated: the check is issued jointly to the homeowner and that homeowner’s bank or mortgage servicer, thus requiring 32

Governor Cuomo Announces DFS Investigation Identifies Banks With Worst Sandy Aid Statistics con’t the bank’s endorsement of the check before the homeowner may access the funds. This dual endorsement is a standard requirement of mortgage notes and insurance contracts.

In December 2012, the Department of Financial Services and major banks reached an agreement that improved the situation by speeding advance checks to homeowners. The Department also sent a letter to banks and mortgage servicersFebruary 2012 proposing a set of best practices to help get relief to homeowners more quickly.

Since the Department’s last letter to financial institutions about this issue in February, banks and servicers have said that they would immediately release an extra $112 million to storm victims, in addition to their regular disbursements. Moreover, representatives from five banks and servicers—JP Morgan Chase, Wells Fargo, CitiMortgage, Bank of America, and Ocwen— spent the first week of March at DFS Disaster Assistance Centers across the region and collectively assisted more than 600 New Yorkers with release of their insurance proceeds.

Superintendent Lawsky said, “At the urging of DFS, most major banks took unprecedented measures in these unprecedented circumstances to release money to their customers to help them recover. We appreciate those efforts and insist that their competitors follow their example.”

A list of the ‘bottom ten’ banks and the amount of insurance funds for Sandy victims they are holding is included right:

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Governor Cuomo Announces DFS Investigation Identifies Banks With Worst Sandy Aid Statistics con’t Total Amount of Insurance Proceeds Still Being Held

Selene Finance Select Portfolio Astoria Federal

Capital One Nationstar Mortgage Flagstar Specialized Loan

OneWest Bank Sun Trust Mortgage

Mid-Island Mortgage Total Dollars/Average %

$1,872,333

Percent of Insurance Proceeds Still Being Held 71%

$4,859,158 $3,668,003 $3,700,158

56% 48% 45%

$6,032,216 $2,922,580 $1,373,576 $14,332,160

44% 43% 41% 39%

$712,884

$1,251,184

39% 38%

$40,724,252

44%

Today, Superintendent Lawsky again urged banks and servicers to implement the best practices DFS put forward in its February 2012 letter. Those best practices include: 1. Publishing clear, easily accessible information on their websites describing the procedures required to release funds, providing copies of required forms, and listing direct contact information for consumer representatives.

2. Designating a single point of contact for homeowners.

3. Immediately releasing all funds designated by the insurance company as “emergency” or “advance” funds.

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Governor Cuomo Announces DFS Investigation Identifies Banks With Worst Sandy Aid Statistics con’t 4. Permitting submission of required documentation via fax and email. Storm Sandy-related faxes and emails should have a separate, designated fax number and email address to expedite processing.

5. Minimizing the amount of documentation required during each phase of repair.

6. Holding all insurance proceeds in an interest bearing escrow account for the homeowner’s benefit.

7. Processing all mail on the day of receipt.

8. Upon receipt of complete documentation, releasing proceeds the day of receipt.

9. In the event that they receive incomplete documentation, notifying the homeowner immediately with detailed instructions on additional requirements.

10. For those with branches, accepting paperwork and endorse checks at all branch locations.

11. Where proceeds cannot be released in person at a branch location, dispersing funds via electronic transfer or overnight delivery.

12. Requiring inspection only if specifically required by investor guidelines.

13. Where inspection is required, deploying inspectors within two days of becoming aware of the homeowner’s request for such inspection.

14. Conducting all inspections at the servicer’s own expense.

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Governor Cuomo Announces DFS Investigation Identifies Banks With Worst Sandy Aid Statistics con’t 15. Upon receipt of proof that homeowner is seeking only reimbursement for money already expended on home repairs, issuing check or electronic transfer directly and exclusively to the homeowner.

16. Maintaining sufficient staff to comply with all of the above practices.

### Additional news available at www.governor.ny.gov New York State | Executive Chamber | press.office@exec.ny.gov | 518.474.8418

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RLI Home Business Insurance

Nearly 45 Million People Work From Their Home

Many homeowners policies exclude business-related practices and those that do offer coverage may provide very limited coverage options.

IIABNY Offers Members a Solution For Their Clients

RLI’s Home Business Insurance Policy offers an excellent coverage solution and recommending it limits your E&O exposure. Affordable premiums (starting at $154) combined with a stand alone policy make it ideal for many retail & service businesses operated out of the home. t t t t t t t

10% commission on new & renewal business RLI has an “A+” (Superior) rating by A.M. Best Broad coverage with off premises theft included General liability coverage up to $1 million Loss of business income protection up to 12 months available Provides coverage for temporarily off premises with certain guidelines No minimum volume requirements, no access fees

For more information on how you can offer this coverage to your clients, contact IAAC, Inc. (IIABNY’s Membership Services Division) by e-mailing Deb Reitz at dreitz@iiabny.org or call 800-962-7950, ext. 225.

RLI Stand Alone Personal Umbrella is here to help!

Have any of your personal lines carriers nonrenewed personal umbrella policies in the last year if they do not write BOTH the underlying homeowners and personal auto policies?

Don’t open yourself up to an E&O claim or worse yet, leave your clients with a coverage gap...protect yourself and your clients with an RLI Stand-Alone Personal Umbrella.

UM/UIM Coverage Available No minimum volume requirements No access fees 10% commission on new and renewal (8% commission for PUP Special) Provides up to $5 million of coverage Does not require or desire underlying policies RLI is admitted and A.M. Best “A+” rated For more information on this program, please visit www.iiabny.org or contact Lexie Dumont 800-962-7950, ext. 248 ldumont@iiabny.org Denise Brown-Carter 800-962-7950, ext 246 dcarter@iiabny.org

www.iiabny.org

The Insurance Agency First Impression Checklist

by John F. Carroll Posted in Customer Service, Sales

Insurance agents are blind.

Don’t worry, it’s not just you.

Compared to someone experiencing it for the first time, we’re all blind to our environment.

I’m sure you notice when things in your agency change, but when was the last time you looked at your agency through the eyes of someone experiencing it for the first time?

First impressions happen fast, hold incredible weight, and are hard to change.

Within the first 10 seconds, visitors to your agency will generate their answer to the following questions: Is your agency easy to do business with?

Is your agency successful or failing?

Is your agency forward-thinking or old-school?

Does your agency care about customers?

Is your staff overworked and underpaid?

Are your products cheap or overpriced?

Are you and your staff trustworthy?

Are they going to buy from you or not?

I understand how difficult it is to look at your agency with a fresh set of eyes, so I developed The Insurance Agency First Impression Checklist.

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The Insurance Agency First Impression Checklist con’t

It’s a downloadable PDF you can print and use to take notes and identify opportunities to improve the first impression people get when they visit your agency.

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Note your calendar now to attend this big event. ********************************** INDEPENDENT INSURANCE AGENTS AND BROKERS OF SUFFOLK COUNTY ANNUAL GOLF OUTING will take place on MONDAY, June 25, 2012 At the Beautiful Port Jefferson Country Club at Harbor Hills!

Details included in this publication!

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Earn CE From Your

Desk!

IIABNY Web CE is Here Login, listen, and learn from your own desk — all you need is a computer and Internet connection!

• • • • • •

Web CE courses are approved for continuing education credit by the NYS Insurance Department No test is required Online registration only Each participant must purchase their own seat and view from his/her own computer in order to earn CE credit Random attendance checks will be conducted Acknowledgement of attendance form must be completed

New Web CE classes are constantly being added so check the latest availability at

www.iiabny.org/edcalendar

Independent Insurance Agents & Brokers of New York, Inc. 5784 Widewaters Parkway, 1st Floor, Dewitt, NY 13214 • 800-962-7950 • www.iiabny.org

Big “I” CE Classes on L.I. IIABNY SEMINAR CALENDAR – First part of 2013 held in Suffolk, Nassau, Queens and NYC. The following seminars will be held at Belfor Restoration in Ronkonkoma, NY unless noted otherwise.

5/21/13 6/12/13

E&O LIVE ………………………Hauppauge Hyatt… (half day-am) E&O Video ……………………….…Location TBA …(half day-am)

The following seminars will be held at Four Points Sheraton in Plainview(Pl) or LaQuinta Inn & Suites in Garden City (GC).

5/16/13 6/04/13 6/12/13 6/18/13

Life Insurance………………………………………….Pl (full day) NY Health Benefit Exchange………………………….Pl (1/2 day-am) E&O Video..……………..……….NYIT, Old Westbury (half day-am) Agency Management (AAI-83 Seg A)………… ……Pl (1/2 day-am)

The following seminar will be held at Swiss Re in NYC 5/22/13 6/12/13

E&O LIVE …………………………………………....(half day-am) E&O Video………………………Location TBA……..(half day-am)

For a complete schedule and registration form, log on to www.iiaany.org. Go to the ‘Education’ link and click ‘Ed Calendar. For more information, call IIABNY’s Education Department at 1-800-962-7950.

For a complete schedule, log on to www.iiabny.org Highlight the ‘Education’ link and select ‘Education Calendar’. Registration forms are also available on line, or call IIABNY’s Education Dept. at 1-800-962-7950.

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Facebook Marketing Tip  Local Community Event Announcement - Every community has events going on throughout the year. When you use Facebook to make people aware of events like the farmers market or the halloween parade, you're not just helping your fans become more engaged in their community, you're helping community organizers get people to their events and they're often great connectors. It's also a great reminder to all your fans that they're supporting a local business by renewing their policies through you.

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the Advertisers INSURANCE COMPANIES & MARKETS Magna Carta Companies Wanda Napolitano 1 Park Avenue New York, NY 10016 Toll Free: 1-888-ONE PARK Phone: 212-591-9500 Fax: 212-591-9621 NIF Group Michael Orlando, Nancy Williams 30 Park Avenue Manhasset, NY 11030 Phone: 516-365-7440 Fax: 516-496-7356 Email: nwilliams@nifgroup.com www.nifgroup.com Quaker Special Risk Camille Windler 226 5th Avenue, 4th Flr. New York, NY 10001 Phone: 516 428 0716.

Fax: 732-223-9072 Email: salesattkr@aol.com Brian Botwinick Eatontown, NJ Toll Free: 800-447-4180 Email: bbotwinick@qsr-insurance.com

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VANE Excess & Surplus Anthony Cacioppo 103 Fort Salonga Rd, Ste 4 Northport, NY 11768 Phone: 631-366-5353 Email: Anthony@VaneIns.com

INSURANCE SERVICES Pryor Personnel Agency Patricia Pryor Bonica 147 Old Country Road Hicksville, NY 11801 Phone: 516-935-0100 Fax: 516-931-7842 Email: ppryor1578@aol.com

RESTORATION SERVICES Belfor Property Restoration Gary J. Alexander 60 Raynor Ave. Ronkonkoma, NY 11779 Phones: 631-471-3131 x121 Fax: 631-471-2905

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SUFFOLK Big Eye INDEPENDENT INSURANCE AGENTS & BROKERS OF SUFFOLK COUNTY

IIABSC 150 Dartmouth Dr. Hicksville, NY 11801

Contact Us: info@suffolkagents.com

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