Mar/AprMoAgent

Piecing together successful partnerships since 1899!

Phone:

Email:

Greer, Creve Ceour

PIA National Director Randy Smart, Marionville

Imm. Past President Cansada Stark, CISR, CLCS, Rolla

Board of Directors

Region 1 Ross Ingersoll, CIC, Savannah

Region 2 Clare Zanger, PPACA, CCHC, Hannibal

Region 3 Holly Stark, Harrisonville

Region 4 Mark Baker, Platte City

Region 5 Rick Prather, Jefferson City

Region 6 Tony Becker, CIC, CRM , Crystal City

Region 7 Paul Carcagno, Arnold

Region 8 Heath Greer, Creve Coeur

Region 9 Vacant

Region 10 Richard Ollis, Springfield

Region 11 David Hall, West Plains

Region 12 Jeremy Anderson, Sikeston

At-Large #1 Andy Reavis, Billings

At-Large #2 Nick Brenizer, AIP, RWCS , Osage Beach

At-Large #3 Jim Neuner, LUTCF, HIA, CBWA, Jefferson City Co. Rep. Dave Barrett, CPCU, CIC, Liberal

MAIA Staff

Chief Executive Officer Matt Barton

Chief Operating Officer Sheryl Van Leer

Director of Insurance Services Theresa Flippin, AIP, CISR

Director of Education

fromthepresident

Political action committees – what’s the big deal and why should I care?

in general, political action committees (PACs) contribute to the political process by supporting candidates who understand and advocate for policies favorable to a particular industry. Specifically, your involvement in MAIA’s state and federal PACs helps shape legislation and regulations that impact the insurance industry.

As Missouri agents, we have the opportunity to support and contribute to two different PACs – Missouri Agents Political Action Committee (MAPAC) and InsurPac. According to MAIA’s website (https://www.moagent.org), MAPAC is “a voluntary, nonprofit, unincorporated committee established by the Missouri Association of Insurance Agents to complement its state legislative program. MAPAC serves an important function for MAIA's government affairs program by providing a cohesive voice in our state Capitol…MAPAC pools contributions from Missouri's independent agencies to support selected candidates for the Missouri House and Senate who share our business philosophies and support the independent agent community.” Additionally, InsurPac is “the political action committee (PAC) of the Independent Insurance Agents & Brokers of America (IIABA). It was established in 1975 to complement IIABA's legislative program, and has since become the largest property-casualty insurance industry PAC in the country. InsurPac is one of the reasons the Big 'I' is routinely rated in Fortune magazine's top-25 list of most successful lobbying groups in Washington, D.C.”

In our society today, PACs almost seem to have a negative connotation. However, if you look at the insurance industry, conglomerates and consortiums are becoming more common as they provide a way for many smaller groups of people to become part of a larger organization in order to have more contract options and/ or buying power for the welfare of the group. In the same way, PACs do the same for the insurance industry, as they have the ability to pool contributions and, collectively, provide a voice for us in the political landscape. As individuals, it is difficult for our voice to be heard, but PACs help

to communicate the concerns, challenges and needs of the industry to lawmakers for all of us, as well as create a stable and favorable business environment for the insurance industry. This stability is essential for the growth and success of insurance agencies, as well as for the protection of insurance policyholders. Financial contributions to PACs support advocacy efforts, including lobbying, public relations and participation in public policy debates. This engagement is crucial for shaping public perception and countering any negative narratives that may arise. These efforts are essential for raising awareness about industry-specific issues and gaining support among policymakers. PACs provide access to key decision-makers that allow industry representatives to engage with lawmakers, share expertise and provide insights into potential impacts of proposed policies. While MAPAC does this on the state level, InsurPac does this on the federal level, receiving contributions from agents nationwide.

Darin Banner, CIC president, MAIA

simultaneously walk the corridors of Congress

With many legislative issues at hand, I hope this gives you a better understanding of why it’s important to get involved financially with our PACs. In a Big “I” Independent Agent magazine article in 2021, Nathan Riedel quoted Dan Evans, a former North Carolina agent leader, as saying, “It seems that there are those, for whatever reason, who do not want to participate in PACs. For those people there is a test: if you can simultaneously walk the corridors of Congress and the halls of your state legislature; if you can have the ear of every representative and senator on every issue near and dear to your heart, and at the same time stay home and do your job, then you do not need PACs.” Obviously, none of us have the time, desire nor the capacity to fulfill these obligations, so please consider a contribution to a PAC and allow them to do the work for you.

celebrating125years

The many names of MAIA

t should come as no surprise that an organization celebrating its 125th anniversary has undergone plenty of changes over the years. MAIA is no exception, and those changes include not only changes in location, size and focus, but also several name changes.

iThe organization was founded in 1899 in St. Louis as the St. Louis Chapter of the National Association of Local Fire Insurance Agents. When the association began to expand outside of the St. Louis area, the name was changed to the Missouri Association of Insurance Agents in 1911. MAIA also became a non-profit organization at that time.

Membership in the organization fluctuated widely during those early years. The organization barely survived World War I, flourished during the Roaring ‘20s, and again saw a sharp decline in membership during the Great Depression and World War II.

In 1943, a second agents’ association was formed in Missouri – the Missouri Association of Mutual Insurance Agents. At that time, agents could represent stock companies or mutual companies, but not both. Thus, what MAIA did for agents representing stock companies, MAMIA did for agents representing mutual companies. Both organizations operated out of St. Louis.

MAIA moved its headquarters to Jefferson City in the mid-1950s to be closer to the Capitol in an effort to maximize its lobbying efforts. It also changed its name to the Missouri Association of Independent Insurance Agents in 1958.

In the 1970s, MAMIA moved from St. Louis to Jefferson City, then to Independence, then back to Jefferson City to stay in 1977.

Following the lead of their national associations, both organizations changed their names in 1975, becoming the Independent Insurance Agents of Missouri and the Missouri Association of Professional Insurance Agents.

The stock vs. mutual agent distinction was

becoming a non-issue by the 1960s, and agents were appointed to represent both types of companies. This meant that the two associations were duplicating efforts and fighting for the same issues. In 1991, the two organizations held a joint convention, and on July 1, 1992, the two organizations consolidated to become the Professional Independent Insurance Agents of Missouri, becoming the fifth state to merge the two associations. Other states have followed suit, but few stayed affiliated with both IIABA and PIA, and Missouri is currently one of only four states to represent both national associations.

In 1995, the association decided to shorten its name to the Missouri Association of Insurance Agents. At the time, association leaders were unaware that they had chosen a name that the association had used from 1911-1958.

No matter what name the association operated under, or which national association(s) it represented, the focus of each organization has always been on advocating for independent agents, and that dedication remains steadfast today.

See page 18 for a history of the logos used by the association.

Sheryl Van Leer chief operating officer, MAIA

my turn n Survivor: hard market edition

obody has to tell you that we are in the midst of a hard market in the insurance industry. After literally decades of taking advantage of a soft market, via a combination of numerous factors, Missouri as well as almost the entire nation has fallen into the throes of a hard market. Many of you have lamented to me that you “haven’t seen a market like this since the early ‘80s.” Our younger agents have known nothing other than a soft market during their entire careers in the insurance industry.

So, in all fairness, this begs the question of what MAIA is doing for member agents to assist them through this market.

First and foremost, our national association, IIABA, through its subsidiary, Trusted Choice, and MAIA heard from many, many agents and what they were experiencing, not only relating to clients, but also carriers. The result of this was the publishing of the Trusted Choice Hard Market Toolkit. The Hard Market Toolkit provides resources that agents can use to navigate the current market conditions successfully. Among other resources, the toolkit includes a remarketing form, a hard market email script, talking points to utilize when visiting with clients, expert advice on navigating this market, a timeline for properly renewing accounts, and questions frequently asked by clients and how to answer those questions.

"The Hard Market Toolkit provides resources that agents can use to navigate the current market conditions successfully."

Matt Barton

drastically increasing the underwriting hoops the agent must jump through while simultaneously decreasing agent compensation. Not surprisingly, this creates a monumental amount of angst and frustration for agents. After much deliberation and seemingly endless editing, the IIABA released a policy statement regarding compensation and appointment practices by some carriers. The final version was approved by the national board of directors on January 13 this year. The policy statement stresses the incredibly important part independent agents play in the delivery of insurance coverage, as well as the vast number of other services agents provide to their clients. Further, the policy statement acknowledges the concern that we have with respect to some carriers cutting compensation to agents and terminating relationships. The decision by some carriers to do this is rash and misguided, even taking into consideration the unique challenges this market poses for clients, as well as carriers. This policy statement has been shared with carriers in order to facilitate a more productive and effective relationship between agents and carriers, so that all parties can best survive the current market. You can read the policy statement on the IIABA website in the "Legal Advocacy & Governance” section under the “Services” tab after logging in.

The IIABA has heard from thousands of agents regarding how valuable this information has been. If you are not already using the toolkit, you can download your copy from the IIABA website, using your member login credentials.

Another “fun” byproduct of this hard market is the practice of some carriers of

I also want to inform you of an initiative the Big “I” has been working on for the past couple of years and which I hope will alleviate a great amount of stress for many agency owners when navigating this hard market. Even before we entered this market, one of the most common questions I fielded was, “I need more markets. Can you help me

continued on page 27

Matt Barton chief executive officer, MAIA

thelegalside Regulatory potpourri

pring will come soon (I hope) and it’s always a good time for cleaning out things – so good that’s what it’s known as: spring cleaning. I’ll have plenty to do this spring myself, but I thought I could start with revisiting some of the issues that have come across my desk over the years, and continue to arise from time to time.

sCertificates of insurance: There are days when I’m firmly convinced that producers and agencies would have been blessed if these things had never been invented. While they seem like a simple way to confirm coverage for parties that have a legitimate interest in knowing another party is insured, in practice they have evolved into a continuous headache. First, they have been used by parties requesting confirmation of coverage to become an interpretation of the coverages, not just a confirmation. That’s not the responsibility of an agency to parties not insured with them. Secondly, many parties want to tell the agent/ producer what language to use in the certificate to describe the coverages. That’s especially prevalent in construction operations. Usually the language suggested doesn’t match any language in the policy, rather it is language created in the insured industry, and it’s not an agency’s duty to interpret policy language vs. other language; only the insurer can do that. Agencies should remain cautious about what they put in a certificate and should check with their insurers for approval to issue any unusual language in a certificate.

even operate as a separate LLC. But whatever the relationship, that relationship needs to be memorialized in some written form. And the writing should make clear what entity owns the business and what may occur if the relationship ends, because most will at some point. Without clear understanding, many problems can occur with competition, use of confidential information and debates on how customers of the producer can be serviced. If those relationships aren’t clear, this is a good time to address them.

"Without clear understanding, many problems can occur with competition, use of confidential information and debates on how customers of the producer can be serviced. If those relationships aren’t clear, this is a good time to address them."

Lewis E. Melahn, J.D.

Lewis E. Melahn is a practicing attorney who provides free legal consultation to MAIA members on a limited basis. He served as the director for the Missouri Department of Insurance from 1989-1993. You can contact Lew Melahn at 573-230-7200.

Producer contracts: Producer relationships can take many forms, as a producer can be an employee, or an independent contractor, or

Lew Melahn

Record keeping:

Agencies often wonder how long they should keep records of old policies, especially for customers no longer with the agency. There are some definite rules, as the Department of Commerce and Insurance regulations require keeping records of personal policies for at least three years after the expiration of the policy and claims records for a similar time from the end of the claim. However, as long as Missouri has a five-year statute of limitations, those records could become essential for a lawsuit filed five years later and which might take years to work through the court system. So, any records of liability policies should probably be kept for at least five years. In addition, certain long-tail events like products liability and completed operations can result in lawsuits filed much later based upon a waiver of the statute of limitations because of an inability of the victim to discover the error within the five year period. So, policies with those coverages might need to be kept nearly forever.

Those are some topics I’m still asked about often and perhaps reviewing those issues with your spring cleaning will save you problems later.

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The worst brings out our best.®

technicalities

Don’t let E&S equal E&O (excitement & opportunity)

n the rush that often comes to place coverage in the E&S market just ahead of a looming renewal date – and sometimes with a desire to soften the bad news – agents often fail to convey just how much coverage might be lost in the transition.

iWhen losing property coverage through an admitted carrier, policyholders also lose the array of coverage extensions and endorsements that might be had for a reasonable premium. Some of the properties being pushed into the non-standard market are those most in need of those extensions offered by standard carries.

Failing to identify specific coverages lost can lead to plenty of excitement and opportunity…for your client’s attorney when a claim is denied. (Credit to Sam Bennett who often reminds us that we want to avoid all forms of E&O by using best practices and knowledge of our product.)

an additional expense is unavoidable. Make sure your underwriter knows if this is a concern of the insured on the initial application to speed up the process.

Ordinance or law coverage: Older buildings without systems updates are being directed to the E&S market at a much higher rate than other properties, especially those with habitational exposure. These buildings may need substantial updates or retrofits to meet local building codes after a major loss. The costs to bring the building “up to code” can be significant, and must be endorsed separately in non-standard markets.

"This is a challenging conversation to have with an insured. More premium for less coverage used to mean a significant threat to that client/broker relationship."

John Higdon

Here are coverages or other notes to address with your policyholders being forced into the E&S markets:

Water/sewer

backup

and service line coverages: The increase in water-related losses, both frequency and severity, are a large reason property carries are drawing hard lines on accounts with a claims history of water losses. Request the carrier quote a sublimit of water and sewer backup adequate to the insured’s needs. They can always reject coverage after a chance to review the itemized premium.

Business interruption coverage: We as agents cringe a little when we hear the insured say, “I just want to meet the bank’s requirements.” We know banks don’t always require business interruption insurance, and that if the building/dwelling is no longer inhabitable,

Debris removal and increased cost of construction: We’ve been spoiled over the years as most carriers throw in stated amount or percentage sublimits to address minimal shortfalls in the cost of construction, or the cost of debris removal. Both coverages are often tapped in the event of a total loss.

Coverage forms – replacement cost, actual cash value and perils: E&S underwriters will amend terms wherever they can in order to secure more favorable terms for themselves. That means limiting coverage, often on a take it or leave it basis. Negotiating coverage grants for an additional premium is more difficult every day. The same $1.5 million limit can have very different applications of coverage at the time of a loss. This is especially true if perils have been reduced from the previous policy term, to “broad” or “basic” perils in lieu of “special.” We also see more issuance of actual cash value policies in the market, which muddies the water when trying to depreciate the damaged portion of the building. How old is the roof? Does framing/superstructure depreciate at all? How

continued on page 28

If you encounter any issues with policy forms, coverage gaps or problematic language, please report them to MAIA’s Coverage Advisory Committee so they can work on getting them corrected through their discussions with ISO, NCCI and ACORD.

John Higdon, CIC chair, MAIA coverage advisory committee

errors omissions&

Minimize E&O certificate of insurance situations

it's a simple concept: somebody wants proof of another person's insurance.

A certificate of insurance is used to provide proof to a third party that an insured has a specific type of insurance. Despite the simple concept, certificates of insurance have long created questions and headaches for agents, and lately, clients and certificate holders are requesting additional information be included on certificates, and this can expose the agency to potential E&O claims.

An agency received a request from a client for a certificate to be sent to the third party. However, the staff person noticed there is a pending notice of cancellation for non-payment. While the policy is still in effect per the carrier website, it could expire a few days after the certificate is issued. Should the agency still honor the request? I understand the moral or ethical thoughts by the insured since the client may be cancelled for non-payment shortly after the certificate is issued, and given our E&O recommendations about not contacting clients who are pending non-payment cancellations, the insured can't really say, "Hey, we would be happy to issue the certificate for you, but we see your policy may be cancelled in a few days for not paying your premium." However, the certificate is just a snapshot of coverage in place at the time it is issued. If the certificate displays the date issued and the agency confirmed the coverage represented on the certificate was in effect at that time, there should be no concerns about complying with the client request.

daily. There is too great a chance of error doing this every time. Like other non-policy related items, we have always advocated for the agency to not attach anything additional to the certificate.

"It is not the agency's responsibility to attest to the financial strength of their client or the carriers represented on the certificate."

Annette "Nettie" Ardler, CPIW, DAE, AIAM

Along the same lines are requests to name additional insureds or language of waiver of subrogation in the description box of the certificate. Some agencies feel they will lose clients if they are not willing to comply with these requests. What should the agency do? The description box should not be used to afford coverage outside of what is outlined in the policy and respective endorsements. Agencies should resist the urge to put any additional wording on the certificate outside what can be directly referenced in the respective policy. It would be appropriate to make a general reference such as "Please refer to the attached blanket additional insured and blanket waiver of subrogation endorsements," and then attach those endorsements to the certificate. If the client is needing specific wording outside of what can be determined in the policy language, the agency can contact the respective carriers for guidance on wording that can be added (if any). If the carrier does not provide or allow any language recommendations, this should be conveyed to the client.

Another recent question came from an agency who handles several transportation accounts, and the certificate holders are requesting a vehicle list including the VIN numbers when the certificate is issued. How should the agency respond to these requests? Unless the vehicles are scheduled by endorsement on the client's policy, you should not provide this additional information to the certificate holder. The reason being commercial accounts often change vehicles throughout the year, and the updated certificate would also have to include relevant VINs. Large trucking accounts can change

What if the certificate alone is not the only document the certificate holder requests to confirm the client's coverage? Recently, an agency contacted me about a client they have applying to become an approved vendor with a local university. In the insurance requirements section of the application, the university outlined the minimum limits of liability and made the following statement: "A certificate of insurance may accompany the required letter, but it is not acceptable in lieu of this requirement." The university also made a demand for the agency to confirm via an addendum the financial strength of their client itself and their insurance carriers along with including their specific wording to the certificate to include the university as an additional insured to all the insurance policies and includes a waiver of subrogation. It is not the agency's

continued on page 30

Annette "Nettie" Ardler, CPIW, DAE, AIAM senior underwriter & risk management expert, Swiss Re Corporate Solutions

fromtheDCI

Help us help you

Brenda Horstman regulatory services manager

he Department of Commerce and Insurance’s (DCI’s) Regulatory Services Section is partnering with SHARE MO (Missouri’s Citizen Engagement Program) to establish a mechanism to receive feedback, analyze the data, and make improvements to our processes as a response to the results. Our team is interested in gathering information through a survey regarding your experiences applying for or renewing a Missouri producer license.

tThrough the collection of this survey data, our goal is to produce the following impacts:

• Streamline producer license renewal and application processes

• Improve the electronic experience for producers

Beginning January of 2024, we are sending surveys out twice per month to any producer who has been issued a license in the previous two weeks. We appreciate your feedback, and we hope that if you receive the survey, you will take a couple of minutes to respond. The survey will come from Missouri Department of Commerce and Insurance <noreply@oa.mo.gov> .

Follow DCI on social media

Facebook: @MissouriDCI

We have an appetite for small business.

been

X: @MissouriDCI

LinkedIn: Missouri Department of Commerce & Insurance

agencymanagement

The high price of professional paralysis

any professionals fear that they will not have the opportunity to grow and develop in their careers. This fear can be caused by a number of factors, such as a lack of training and development opportunities in their current role, a perceived lack of support from their manager, or a feeling of being stuck in a rut.

with their jobs.

mThis fear can have a number of negative consequences for both employees and employers. For employees, it can lead to decreased motivation, job dissatisfaction and a higher likelihood of turnover. For employers, it can lead to a decrease in employee productivity, innovation and engagement.

• Increased likelihood of turnover: Employees who are not satisfied with their jobs and do not feel like they have opportunities for growth are more likely to leave their jobs.

For employers, the cost can include:

• Decreased productivity: Employees who are not motivated or engaged are less likely to be productive.

• Decreased innovation: Employees who are not learning and growing are less likely to come up with new ideas and solutions.

"There are a number of things that employees and employers can do to address this fear and create a more positive work environment."

You might relate to Sarah, a seasoned VP of marketing. She was top of her game, always looking for the next great speaker to inspire her team. Yet, she found herself stuck, year after year, in the same role, unable to make that leap to C-suite. And Sarah had to confront that reality. "Growth and comfort do not coexist," IBM's former CEO, Ginni Rometty, once said.

Matthew Renz

Professional paralysis costs more than just money

The cost of not taking action to address the fear of lack of access to professional growth can be significant for both employees and employers.

For employees, the cost can include:

• Decreased motivation: Employees who feel like they are not growing and developing in their careers are less likely to be motivated to do their best work.

• Job dissatisfaction: Employees who feel like they are not learning new things or progressing in their careers are more likely to be dissatisfied

• Decreased employee engagement: Employees who are not satisfied with their jobs and do not feel like they have opportunities for growth are less likely to be engaged in their work.

What should I do? There are a number of things that employees and employers can do to address the fear of lack of access to professional growth.

Employees can:

• Take initiative to learn new things and develop new skills. This can be done through formal training programs, online courses or self-directed learning.

• Seek out opportunities to take on new challenges and responsibilities. This can be done by volunteering for new projects, shadowing other employees or asking for additional work.

• Build relationships with mentors and sponsors. Mentors and sponsors can provide guidance, support and advocacy for employees who are looking to grow and develop in their careers.

• Network with other professionals. Networking can help employees learn about new opportunities and make connections with people

continued on page 29

Matthew Renz

With a three-decade background in corporate insurance sales and leadership with UnitedHealthcare, Matthew brings a passion and energy for personal and professional growth and leadership development. He is a speaker, trainer and author who packs everything he touches with thoughtprovoking ideas meant to grow and build relationships.

Reach him by email: matthew@matthew-renz. com.

Our History

MAIA's logos

Until the merger of the Independent Insurance Agents of Missouri and the Missouri Association of Professional Insurance Agents in 1992, both organizations used the logos of the national associations, or a variation thereof. After the merger, the Professional Independent Insurance Agents of Missouri developed its own logo, incorporating both national logos.

When the association changed its name in 1995, it paid a public relations firm to develop a logo unique to MAIA. That logo is comprised of triangles, signifying the parties in the independent agency system: the independent agent, the company and the consumer. Those triangles form the “M” for “Missouri,” and the bottom triangle also implies the presence of an “A” for “agents.”

1992-1995

Past PIA logos

Past Big "I" logos

February 1987 to 1992

1898 to 1900 est.

1903 to 1913

1913 to January 1945

January 1945 to September 1956

October 1956 to November 1957

December 1957 to February 1966

March 1966 to February 1987

MAIA'S ASSOCIATE MEMBERS & PARTNERS

COMPANIES

Acuity

AF Group

AMERISAFE

AmTrust Insurance

Amynta Work Comp Solutions

Auto-Owners Insurance

Barton Mutual Insurance Company

Berkley Management Protection

Berkshire Hathaway GUARD Insurance Companies

Berkshire Hathaway Homestate Companies

BITCO Insurance Companies

BMI Company, Inc.

CFM Insurance

CHUBB

Columbia Insurance Group

Cornerstone National Insurance Company

Dairyland

Delta Dental of Missouri

EMC Insurance

EMPLOYERS

FCCI Insurance Group

Grinnell Mutual Reinsurance Company

Haulers Insurance Company

Horace Mann

ICW Group Insurance Companies

Illinois Casualty Company

Liberty Mutual | Safeco |

State Auto

Diamond Platinum Gold Silver Bronze

Madison Mutual Insurance Company

Markel Specialty

McNeil & Company

Missouri Employers Mutual

Missouri Farm and Home Mutual Ins. Co.

MOPERM

Mountain Life Insurance Company

National General, an Allstate company Nationwide

Old Missouri Mutual Patrons & Farmers Mutual of Missouri

Pennsylvania Lumbermens Mutual Insurance Company

Philadelphia Insurance Companies

Progressive RAS RCIS

REInsurePro

RLI Surety

SECURA Insurance

Selective Insurance

Southern Pioneer Insurance

Steadily Insurance

Stonetrust Workers’ Compensation

Swiss Re Corporate Solutions

The Cincinnati Insurance Companies

The Hartford Traders Insurance

Travelers Insurance

UBIC

UFG Insurance

UnitedHealthcare

West Bend Insurance Company

VENDORS

Agent Support Network of America - ASNOA

Anthem Software

Capital Premium Financing

ClientCircle

ePayPolicy

HawkSoft

HoundDog

Imperial PFS

Iroquois

Keystone

Lewis E Melahn - Attorney-AtLaw

Malarkey Roofing Products

NCMIC Finance Corporation

Recruiting for Growth

Remote Insurance Team

Smart Choice Agents Program

STONEMARK, INC. "Premium Finance Group"

SynchronyHR

Valley Insurance Agency Alliance

WHOLESALERS

Aegis General Insurance

Alternative Risk Company

Amwins Access

Arlington/Roe

Burns & Wilcox

Cannabis Insurance

Wholesalers/One General Agency

Chris-Leef General Agency, Inc.

Cochrane & Company

CRC Group

Equipment Insurance

International

Gateway Underwriters Agency

Graham-Rogers Insurance

Group Benefits Limited

Insurance Program Managers

Group

Insurance Specialties

Irwin Siegel Agency

JENCAP

JM Wilson

Med James

Missouri Rural Services

Novatae Risk Group

Owner-Operator Services

Risk Placement Services, Inc.

River Valley Underwriters, Inc.

RT Specialty

SafetyCulture Care

Stuckey & Company

W. A. Schickedanz Agency, Inc.

Walter General Agency

MAIA Partner History Fun Facts

The first year of the Partner program was 1999 (for MAIA's 100th anniversary).

We had 41 Partners in 1999.

There were only 4 levels of Partners until 2003, when the Diamond level was added. Missouri Employers Mutual was the only Diamond Partner that year.

We had never had more than 3 Diamond Partners until 2023 when we had 5. This year we have 6.

The most Partners in the program was 78 in 2019.

Much of what we do would not be possible without the support our Partners. MAIA would like to thank all of our Partners for their support of MAIA and the independent agency system!

InsurPac

InsurPac celebrates 50 years of standing up for agents

ew agents would argue that federal advocacy has not been one of the most successful, if not the most successful, parts of IIABA’s work over the past few years.

fOur federal government relations team has been able to secure many valuable “wins” over the past 50 years that directly benefit either the agency bottom-line or agent or client pocketbooks. One of the more recent issues for which we can thank our federal government relations team is the inclusion of insurance agents in the “pass-through” tax deduction that was part of the federal tax reform package. Many of our member insurance agencies are set up as pass-through entities, that being that the income derived by the agency passes through and is taxed on the owner’s personal income tax return. While there are numerous reasons why an agent would set up his/her agency in this manner, one additional advantage now is that 20% of the income from the agency claimed on the owner’s tax return is now excluded from the tax base calculation. This results in thousands of dollars in savings for some of our larger agency owners. By the way, if your agency is set up as a pass-through entity and you are not already utilizing this deduction, you should check with your CPA to see if you’re eligible.

Who do you have to thank in large part for being able to claim this deduction? Our federal government relations team. Why? Because when the legislation was originally crafted, it was unclear if agents would be able to take advantage of this deduction. However, through the work of our federal team, guidance was issued that made it clear that owners of insurance agencies set up as pass-through entities may include this deduction on their income tax returns.

Your contributions to InsurPac make a difference in our federal team’s ability

to successfully work with members of Congress. InsurPac donations allow our federal team to establish relationships with elected officials who are in positions to assist our members. Don’t you feel like you work better with people who clearly support you? That’s what InsurPac does. Speaking of which, InsurPac is celebrating its 50th year of existence in 2024. Since its founding in 1974, InsurPac has led the charge for Big “I” government affairs, effectively advocating before the U.S. Congress on behalf of the independent agency system. It is the largest federal political action committee funded by independent agents, collecting $1.3 million in 2023 alone.

Launching and funding a campaign is expensive, and the higher the office one strives for, the more expensive the campaign is. Campaigns for service in the United States House of Representatives and Senate are exponentially more expensive than the expenses related to seeking a state-level office. InsurPac contributions are pooled and then used to support candidates and incumbents for congressional offices who support ideals important to independent agents. There are very strict federal rules regarding what political action committees may spend funds upon, so 100% of your InsurPac contributions are used to help fund campaigns for congressional offices. They are not used to fund our national association staff, including our government relations team, nor are they used to fund salaries of current members of Congress.

MAIA encourages all agents to contribute to InsurPac. When we all contribute, even a small contribution from each person helps make a significant difference to our efforts and subsequent results in benefitting independent agents. Do your part, and don’t leave it up to others to carry the load for you.

2023 InsurPac Contributors

Centennial Club ($1,000 - $2,499)

Darin Banner, Capstone Insurors

Tony Becker, Custom Insurance Services

Tom Berra, Charles L Crane Agency Company

Belinda Brenizer, Hawkins Insurance Group

Scott Brothers, The Insurancenter

Brad Greer, Arnold Insurance

Butch James, Charles L Crane Agency Company

Dennis Luebbering, Luebbering Insurance Agency

Mitchell Mills, Mills & Sons

Tami Mills, Mills & Sons

Paul Schroeder, Schroeder Insurance Agency

Gold Club ($500 - $999)

Randy Baker, TR Baker Insurance Agency

Steve Butz, Crawford-Butz & Associates

Doug Clift, Arnold Insurance

Bryan Cothern, Rich & Cartmill

Mark Gibbins, Ellington Insurance Agency

David Hall, Ozark Hills Insurance

Brian Harrison, Harrison Agency

Deena James, St. Louis Insurance Services, LLC

Ryan Sanders, Rich & Cartmill

Randy Smart, Smart Insurance Agency

Brent Speight, Scott Agency

Pioneer Club ($250 - $499)

Chase Brenizer, Hawkins Insurance Group

Nick Brenizer, Golden Rule Insurance Agency

Charlie Brown, Baker Welman Brown Insurance & Financial Services

Alan Clark, Missouri Rural Services

Summer Cole, Missouri Employers Mutual

Christian DeLozier, Mike Keith Insurance

Kevin DeVoy, DeVoy-Baker Group

Stacey Eickhorst, Luebbering Insurance Agency

Kay Johnson, The Daniel & Henry Company

Jim Lay, The Cincinnati Insurance Companies

Chris Liese, Burton-Liese Government Relations

Paul Long, Ollis/Akers/Arney

Lee Lottes, Lakenan

Kyane Marble, Hawkins Insurance Group

Charles Moffitt, Morse-Harwell-Jiles Insurance Agency

Norman Montgomery, Charles L Crane Agency Company

Tom Montileone, Barker-Phillips-Jackson

Jim Neuner, Winter-Dent & Company

Richard Ollis, Ollis/Akers/Arney

Charles Rush, Cook Insurance Agency

Darren Smiley, Gallaher Insurance Group

Jon Stahly, WE Walker - Lakenan

Cansada Stark, Jenks/Long Insurance

Clare Zanger, First State Insurance AgencyHannibal

Founders Club ($150 - $249)

Robert Alldredge, Fairfax Agency

Sandy Andrew, Andrew & Associates LLC

Matt Barton, Missouri Association of Insurance Agents

Larry Case, Missouri Association of Insurance Agents

Laura Green, Anderson & Green Insurance Agency

Heath Greer, Arnold Insurance

Mike Keith, Mike Keith Insurance

Louis Landwehr, Winter-Dent & Company

Mitch O'Brien, MGI Risk Advisors

Robin Paschall, USI Insurance Services

Andy Reavis, BMI Company, Inc.

Melodie Smith, Lindenwood Agency

Matt Speight, Scott Agency

Doug Twigger, Rich & Cartmill

Sheryl Van Leer, Missouri Association of Insurance Agents

Mollie Wells, O'Connor Insurance Agency

General Contributors (up to $149)

Cliff Addison, Addison Insurance Services, LLC

Tyler Anderson, Nationwide Agribusiness

Jim Baxendale, MGI Risk Advisors

Steve Beimdiek, Beimdiek Insurance Agency

Dave Bolton, Charles L Crane Agency Company

Grant Bowen, Custom Insurance Services

Nathan Brown, WE Walker - Lakenan

Paul Carcagno, Southern Insurance Services Arnold

Jason Chinn, James Insurance Group

Duke Churchill, Mel Gregg Insurance

Susan Clift, Arnold Insurance

Dorian Culver, Stafford-Leavitt Insurance

Theresa Flippin, Missouri Association of Insurance Agents

Kelsey Flynn, K Flynn Insurance Agency

Barrett Glascock, Glascock Agency

Brian Gleize, Scott Agency

Stephen Griffin, Partners Choice Insurors

Mark Hill, Windmill Insurance Agency

April Hodges, Hodges Insurance Agency

Janice Hodges, Hodges Insurance Agency

Gary Holeman, Benchmark Insurance Agency

Keith Inman, Inman Insurance

Jon Jackman, MGI Risk Advisors

Julie Jackman, MGI Risk Advisors

Ryan James, James Insurance Group

Matt Kujath, Winter-Dent & Company

Robyn Leimkuehler, Leimkuehler Insurance Services

Mark Lohrman, MGI Risk Advisors

Steven Mallow, Capstone Insurors

Gary Mesler, Crawford-Butz & Associates

Brian Mouse, All American Agency Group

Todd Obergoenner, WE Walker - Lakenan

Dawn Oney, The Insurancenter

Fable Painter, Capstone Insurors

Andrea Powell, Keystone

John Riddle, DeVoy-Baker Group

Ted Schroeder, Schroeder InsuranceWashington

Colleen Signorelli, The Daniel & Henry Company

Kim Smith, Mid USA Insurance Agency

Josh Stafford, Stafford-Leavitt Insurance

Larry Stark, Consolidated Insurance Agency

Aaron Stewart, BMI Company, Inc.

Caleb Sumner, Sumner Insurance Services

Jamie Varner, Varner Insurance Agency, LLC

David Walker, Mills & Sons

Hannah Wall, Missouri Association of Insurance Agents

John Walsh, MGI Risk Advisors

m IA Valuations

AIA has partnered with the Ohio Insurance Agents to offer our members access to IA Valuations, an organization that prepares valuations exclusively for independent agency owners. Below is an introduction to who they are, what they do and why they do it.

Getting a valuation of your insurance agency is not only an important business decision but also a tool for understanding the fair market value of what is likely your greatest financial asset. You can get a valuation from many sources, each with a motive, experience and credentials for providing the service. That’s why we want to introduce you to IA Valuations and provide you with a few reasons to consider our services when making this important decision to value your agency.

IA Valuations’ mission is to help agency owners realize and maximize their value while also protecting the independent agency system. Our mission drives what we do and why we do it. We are mission-driven and committed to the relationships we build. The valuation process allows us to get an intimate look into each agency, which builds deep connections and, often, long-term business relationships. In addition to valuation services, IA Valuations provides perpetuation planning, buysell advising, and other related insurance agency business consulting.

400 insurance agency valuations in their collective careers and is made up of passionate and highly skilled professionals. The team is comprised of financial analysts who have the most practical experience and prestigious education in their field. They each have a deep understanding of the insurance industry and are knowledgeable of relevant benchmarks to accurately measure your agency’s performance.

On top of providing a valuable service to individual agency owners, the IA Valuations team has been working to build a robust data platform to use to analyze the collective data. The more valuations and consulting engagements performed by IA Valuations, the richer and more detailed data and reports will follow, which can then be used to further help agency owners.

IA Valuations also places a strong emphasis on the fact that these services are accessible and affordable for all agency owners. Many of the valuations are provided to an underserved and overlooked constituency in the IA System: small to mid-size agencies. According to the Agency Universe study, 80% of agencies in the U.S. are $1.25 million and below in annual revenue. These agencies are often not the focus of consultative services and private equity acquisitions, and therefore are devoid of insights to help them grow and improve agency value, despite the ever-present need.

IA Valuations also prides itself on providing more than just a number to agencies. We strive to also provide a pathway for growth. The valuation report will give insights to the owners on opportunities to grow, how to maximize value, and how to best position your agency for long-term wealth building. Every single agency is different, so each engagement is tailored to the individual agency’s specific needs. After reviewing and analyzing all your data, you will get a customized and individual 26-page report.

The IA Valuations team has completed over

Our long-term goal for IA Valuations is to get every insurance agency owner an annual valuation of their agency. The belief is this is the equivalent of receiving your annual statement on the performance of a financial investment. Your agency is a significant financial asset in your portfolio, and you should have a solid, accurate and up-to-date understanding of the value of that asset.

Are you leaving money on the table? Reach out to contact@iavaluations.com to get started and learn more about our services.

MARCH

5 An Hour With Dave: All-Things Ordinance or Law (Personal and Commercial)

5 All-Things Ethics: Agent Obligations, Standards, Authority and More

7 The Fine Print: Understanding The Contractual Obligations of Your Insured

19 An Hour With Nicole: Everything You Need to Know About Insuring Work-From-Home Exposures

19 Claims That Will Convince Your Insured to Enhance Their Homeowners Coverage

21 Forward and Backward: Insuring Emerging Risks, Surviving Deteriorating Markets

21 Cyber Coverage: Protecting Your Insureds From Hackers, Liars & Really Bad Bots

26 Commercial Property: Recent Changes and Crucial Concepts

26 Mastering Business Income: Tools & Tips to Keep Insureds Flush

27 An Hour With Dave: Coverage That Keeps A Business Income Loss From Bankrupting You

28 Covering Online Fraud and Employees Who Turn Out to Be Crooks

APRIL

9 An Hour With Cathy: Commercial Property Valuation Options (AKA "How Big is the Check?!")

9 Ethical Dilemmas in Insurance and the Responsibilities of Agents

11 An Hour With Kevin: Using Small Motor Vehicles to Break Things &

11 The Fine Print: Understanding the Contractual Obligations of Your

16 Insuring Vehicles, Equipment and Other Stuff That Moves - Personal

my turn

continued from page 9

get more markets?” I’m not alone as far as the individuals who are in my position being asked those types of questions. I’m quite certain the vast majority of agent association executives around the nation hear their agents lament about this. Up until this initiative, there were not a lot of great answers to those questions, as it is completely the right of all carriers to appoint or decline any agencies they would like to, provided they do not do so in a manner that would constitute unfair discrimination. Further, carrier appointments in a market such as this tend to be all over the place, so to speak, in that they may be open to appointing a certain size agency in this geographic area today, but not next week.

So, the Big “I” has already “soft launched” their market access program to a select number of agencies across the country. This program will include access to tons of carriers,

pay great commissions, be affordable, and you can take your business with you when you want to, provided that carrier will extend a direct appointment to you. This will be a member-only benefit. Agencies that are not MAIA members cannot access this program. While we will be releasing more information regarding this program shortly, we are looking for a select few agencies to participate in the program. Now, I want to tell you – this is not a program to run just one or two pieces of business through. While you certainly do not (and probably should not) run all your business through this program, you should plan to direct multiple pieces of business through it.

In the end, we all will survive this market and better times are in front of us. But, in the meantime, we have resources for you to utilize in your agency.

technicalities

continued from page 13

is labor calculated? All these questions depend on the state where the property is located. If you have significant property scheduled in other states, research into their local statutes can set you apart from the competition. After being coached and trained to only offer replacement cost policies on special coverage forms our entire careers, these are often the best available terms for our tough property risks.

Utility interruption: Does the insured have a generator on-site? This may be a requirement for significant coverage limits requested from carriers. It’s difficult to operate without data, energy, heating/cooling and water access. Discuss with the policyholder, and endorse as necessary.

Regulatory oversight and the state guaranty funds: For the first time in years we’re seeing carriers succumb financially to the poor underwriting performance of their property books. Carriers are going bankrupt, or pulling out of states or segments of business, like personal lines. There’s no backup to an E&S

property policy should a carrier go insolvent; the guaranty fund will not step in and pay claims. That means when advising clients on the purchase of property insurance, choosing a carrier with a strong financial rating, significant asset size, and proven track record may be worth the additional premium that carrier charges, versus lower premiums from other, less stable options.

This is a challenging conversation to have with an insured. More premium for less coverage used to mean a significant threat to that client/broker relationship. However, if your carrier marketing process is thorough and detailed, you are then able to show the insured all your work, and the depths you’ve gone to avoid this move to the E&S market. After that likely comes acceptance from your client, who will see this proposal as their best available option, and appreciate the value and knowledge you’ve imparted through a difficult, murky process and an extremely volatile property insurance market.

agencymanagement

who can help them achieve their career goals.

Employers can:

• Provide training and development opportunities for employees. This can include formal training programs, online courses, tuition reimbursement and opportunities for employees to attend conferences and workshops.

• Create a culture of learning and development. This can be done by encouraging employees to share their knowledge and expertise with others, and by providing support for employees who are pursuing professional development goals.

• Recognize and reward employees who are taking the initiative to learn and grow. This can be done through financial rewards, public recognition or opportunities for advancement.

Take action

The fear of lack of access to professional growth is a real concern for many employees. However, there are a number of things that employees and employers can do to address this fear and create

continued from page 17

a more positive work environment.

Employees can take the initiative to learn new things, seek out new challenges, and build relationships with mentors and sponsors. Employers can provide training and development opportunities, create a culture of learning and development, and recognize and reward employees who are taking the initiative to learn and grow.

By taking these steps, employees and employers can work together to create a more positive and productive work environment where everyone has the opportunity to grow and develop.

Action plan:

• Employees: Identify one thing you can do this week to take the initiative to learn and grow in your career.

• Employers: Identify one thing you can do this month to create a more positive and supportive environment for professional growth and development.

errors omissions

&

responsibility to attest to the financial strength of their client or the carriers represented on the certificate. As already mentioned, we recommended the agency not include the additional language regarding additional insured status and waiver of subrogation on the certificate. It was very clear the university wanted the agency's E&O policy to be a secondary source of coverage in the event the client has an uncovered or under-covered claim.

Your internal procedures should outline how to respond to certificate requests, including confirming coverage is in force and only representing coverage limits as stated in the policy. The Virtual University section of the IIABA website has a section dedicated to certificates of insurance and is a helpful resource. And don't hesitate to contact your association for additional assistance.

Thisarticleisintendedtobeusedforgeneral informationalpurposesonlyandisnottobe relieduponorusedforanyparticularpurpose. SwissReshallnotbeheldresponsibleinany

continued from page 15

wayfor,andspecificallydisclaimsanyliability arisingoutoforinanywayconnectedto, relianceonoruseofanyoftheinformation containedorreferencedinthisarticle.The informationcontainedorreferencedinthisarticle is not intended to constitute and should not beconsideredlegal,accountingorprofessional advice,norshallitserveasasubstitutefor therecipientobtainingsuchadvice.Theviews expressedinthisarticledonotnecessarily representtheviewsoftheSwissReGroup("Swiss Re")and/oritssubsidiariesand/ormanagement and/or shareholders.

Annette"Nettie"Ardler,CPIW,DAE,AIAM,isa seniorunderwriter&riskmanagementexpert ofSwissReCorporateSolutions,underwriting insuranceagentserrorsandomissionscoverage.

Shehasbeenalicensedagentforover30years withaspecialtyinprofessionalliabilityinsurance. Nettiehastaughtclassesinriskmanagement, ethics,andlawsandregulations.

Copyright2024SwissRe

regulatoryactions

Enforcement actions

Advantage Title, LLC, St. Joseph, Mo., voluntary forfeiture of $4,600.

Marilyn Eileen Darling, Beaverton, Ore., voluntary surrender of license.

Will Garrett, Ashland, Mo., voluntary forfeiture of $700.

Michael E. Hinkebein, Farmington, Mo., special conditions imposed on licensee.

Ryan Lewis, Lee’s Summit, Mo., voluntary forfeiture of $700.

Travis Mahler, O’Fallon, Mo., voluntary forfeiture of $600.

Quicksilva Title and Escrow, LLC, Somerville, Mass., voluntary forfeiture of $600.

Micah Anthony Robinson, Carthage, Mo., voluntary forfeiture of $700.

John Sherwood, Nixa, Mo., voluntary forfeiture of $600.

James E. Weir, Warrenton, Mo., refusal to renew license.

Financial examinations

Caterpillar Insurance Company, Nashville, Tenn., examination report adopted with curative action ordered.

Caterpillar Life Insurance Company, Nashville, Tenn., examination report adopted with curative action ordered.

Cornerstone National Insurance Company, Columbia, Mo., examination report adopted with curative action ordered.

Market conduct exams

Best Life and Health Insurance Company, Irvine, Calif., stipulation of settlement.

Geico Casualty Company, Washington, D.C., stipulation of settlement and voluntary forfeiture of $500.

Humana Health Plan Inc., Louisville, KY., stipulation of settlement and voluntary forfeiture of $6,000.

National Health Insurance Company, Dallas, Texas, stipulation of settlement.

New faces and places

LeBlanc joins Crawford-Butz

• Marsh Management Services Inc., Burlington, Utah, effective 04/13/15, was admitted as a Third Party Administrator.

James, Inc. - St. Louis

M.J. Kelly Company

In January of 2024, Luke LeBlanc joined Crawford-Butz Insurance as VP of agency development. Luke will be working closely with the leadership team to maximize efficiency and profitability within the agency, with a heavy focus on growth through agency/book acquisition. Luke is very excited about this opportunity to help usher Crawford-Butz into the next era.

• Managed Care of North America Inc., Fort Lauderdale, Fla., effective 05/07/15, was admitted as a Third Party Administrator.

“We love and appreciate the support we’ve been shown by our community, and we are excited about the opportunity to invest back into our hometown and our people,” said Kevin Charleston, owner of Specialty Risk Insurance. “We’ve always had the long-term goal of building a place our kids want to work, and this expansion allows us to continue the growth to make that possible. We can accommodate our people better now.”

• Pessada Holdings LLC, Chesterfield, Mo., effective 04/01/15, registered as a Motor Vehicle Service Contract Provider.

636-524-0080800-255-6503Fax 636-524-0088www.medjames.com

• Peleus Insurance Co., San Antonio, Texas, effective 04/02/15, changed its name from Colony National Insurance Co.

Other news

417-883-2688800-725-7211Fax 800-678-7211www.mjkelly.com

Swett & Crawford 314-473-3080 Fax 314-473-3081www.swett.com

Specialty Risk Insurance relocates and plans expansion

• Lamorak Insurance Co., Philadelphia, Pa., effective 04/24/15, changed its name from OneBeacon America Insurance Co.

• Hallmark National Insurance Co., Fort Worth, Texas, effective 04/21/15, redomesticated to Arizona.

The new location will be off I-44 at Exit 22, across the highway from Joplin Regional Stockyards. “It fits us well,” Charleston said of the new location. “A lot of customers that we have are in and out of the stockyards a couple times a week. It makes sense to be where we’re at out there.”

• Old Republic National Title Insurance Co., Tampa, Fla., effective 04/24/15, redomesticated to Florida.

• North American Data Security RPG, Troy, Mich., effective 04/07/15, registered as a Purchasing Group.

• GGP Tenants Purchasing Group, Chicago, Ill., effective 04/07/15, registered as a Purchasing Group.

Specialty Risk Insurance, a family-owned agribusiness and commercial insurance agency, has announced it will relocate its headquarters to a larger facility just off Interstate 44 in Carthage, Missouri, to allow for its continued growth. The project entails a $5.3 million investment and will create 201 jobs over the next six years.

Association of Missouri

Specialty Risk Insurance offers a wide range of coverage that includes production agriculture, food processing and packaging, livestock, machinery and equipment, aviation and more.

• Missouri Medicare Select LLC, Allen, Va., effective 04/30/15, was admitted as an HMO.

For this expansion, Specialty Risk Insurance

• Financial Risk Solutions Service Contract/ Warranty RPG Inc., Indianapolis, Ind., effective 04/07/15, registered as a Purchasing Group.

• ExlService Technology Solutions LLC, New York, N.Y., effective 04/09/15, changed its name from Professional Data Management Again, Inc.

• CWI Benefits Inc., Greenville, S.C., effective 05/21/15, was admitted as a Third Party Administrator.

• CRL Plus Inc., Lenexa, Kan., effective 04/20/15, was admitted as a Third Party Administrator.

• Merit Health Insurance Co., Skokie, Ill., effective 04/30/15, was admitted with A2 (Accident and Health) authority.

• Mercy Health Springfield Communities, Chesterfield, Mo., effective 04/21/15, withdrew as a Third Party Administrator.

• Mercy Benefit Administrators LLC, Springfield, Mo., effective 05/13/15, was admitted as a Third Party Administrator.

• Medical Security Insurance Co., Raleigh, N.C., effective 05/01/15, was added to the list of eligible surplus lines insurers in the State of Missouri.

from page 35

will participate in the Missouri Works program, a tool offered to help businesses expand, retain employees, and purchase equipment to maintain facilities in the state.

“We’re proud to support Specialty Risk Insurance alongside our partners as it continues to thrive in Carthage,” said Michelle Hataway, acting director of the Department of Economic Development. “This expansion is adding more than 200 good-paying jobs for the community and surrounding areas, helping Missourians prosper in the southwest region.”

New agency members

Amanda Ross Insurance Agency, Amanda Ross, Kahoka

Claas Insurance Agency LLC, Luke Claas, Lee’s Summit

DECO Insurance Agency, Jessie Simpson, Gravois Mills

Shockley-Schwenger Insurance, Paula Grissom, Barnhart

2023 Specialty Risk Insurance staff photo

missourinews

Tort Reform Action Center

Who among us enjoys paying higher insurance premiums? The answer to that question is resounding “no one.” A hard market such as the one we are in the middle of (hopefully on the tail end thereof) never arrives as the result of one factor; it’s the culmination of a multitude of factors, which could include catastrophic losses, increased reinsurance costs, lower investment returns, inflation, economic instability and less competition among insurance carriers. One factor that directly affects insurance premiums is the legal landscape and the payment of (or possibility of) significant legal judgements or settlements by insurance carriers. The increased frequency of paying these judgements also affects rates. When insurance carriers repeatedly pay large amounts for which they did not collect a commensurate premium, insurance premiums will rise.

Missouri’s legal landscape is in dire need of reform on several levels. Whether it’s statute of limitations, joint and several liability, time-limit demands or collateral source reform, our state’s legal landscape is not conducive to keeping insurance premiums affordable over time. Bills are filed during every state legislative session that would amend Missouri’s laws to reduce the instability associated with an “unfriendly” legal landscape. MAIA recently launched the Tort Reform Action Center on the association website. Here you can learn about the problems with our legal landscape, track legislation that has been introduced and become part of the solution to this problem. MAIA members are highly encouraged to visit this section of the website and do your part to keep insurance affordable for years to come.

Scholarships available for MAC Summit

MAIA is offering two scholarships for the Missouri Agents Connection Summit in July. You can find applications for the scholarships at moagent.org/ MACSummit. Deadline to apply is May 1, 2024.

First-Time Young Agent Attendee Scholarship

The scholarship consists of a full registration fee for the MAC Summit and three nights’ hotel stay at Chateau on the Lake, Branson. The applicant must be between the ages of 21 and 40; employed by an MAIA member retail agency; have never attended the MAC Summit (or Joint Leadership and Young Agents Conference); and the scholarship must be used for the 2024 MAC Summit.

First-Time Attendee Scholarship

This scholarship consists of a full registration fee for the MAC Summit. The applicant must be employed by an MAIA member retail agency; have never attended the MAC Summit (or Joint Leadership and Young Agents Conference); and the scholarship must be used for the 2024 MAC Summit.

MIEF scholarship opportunities

The Missouri Insurance Education Foundation (MIEF) was formed as a non-profit corporation in 1991 to promote public insurance education. MIEF offers four $1,500 scholarships to Missouri high school graduating seniors interested in or intending to pursue an insurance, risk management or actuarial science course of study at a Missouri college or university.

There are also scholarships available to deserving Missouri resident students majoring in insurance or a related area of study at a Missouri college or university. There is one $2,500 C. Lawrence Leggett Scholarship and five $2,000 scholarships available, one of which is named after former long-time MAIA employee, Judy Bish. To qualify for these, the applicant must be a junior or senior at an accredited college or university in Missouri during the fall semester of 2023. There is also one $2,500 C. Donald Ainsworth Scholarship for a deserving college student from the St. Louis metropolitan area majoring in insurance or a related area of study at a Missouri college or university.

Applications for these scholarships must be received by March 31, 2023. The selection of recipients is made by the MIEF scholarship committee. Find the applications at mief.org.

Big “I” president & CEO named among top lobbyists

The Hill, a prominent political newspaper, has once again named Charles Symington, Big “I" president & CEO, among the top trade association lobbyists in Washington, D.C.

“I'm honored to have been named to The Hill's list, but this is truly a team recognition," Symington says. “Nathan Riedel, our new senior vice president of federal government affairs, leads a fantastic team that represents independent agents from across the country on Capitol Hill. Their hard work, dedication, and meaningful relationships result in our association being named among the most influential in the country time and again."

Congressional leaders regularly tap the Big “I"

federal government affairs team for its political acumen for sitting on congressional steering committees, raising campaign dollars, hosting political events and strategizing to help members of Congress better serve their constituents and advance top issues. A vital component of the association's advocacy efforts is InsurPac, the Big “I" political action committee, which continues to be one of the leading small business PACs in the country.

Award nomination forms

MAIA’s annual awards are one way to recognize and promote the valuable role that independent agents fulfill on the local and state level as small business owners, employers, consumer advocates, industry professionals, civic leaders and community volunteers.

MAIA presents four awards each year that are nominated by our membership: Insurance Person of the Year, Young Agent of the Year, Company Representative of the Year and Top Partner. Members are encouraged to nominate deserving individuals and companies for one or more of these awards. Nomination forms can be found at www.moagent.org/awards.

The 2024 honorees will be recognized Thursday, July 18, at our Missouri Agents Connection Summit. Nominations will be accepted until May 1, 2024.

Remembering John Velino

John Anthony Velino III, 54, of Belleville, Illinois, born on Aug. 1, 1969, in South Kingston, Rhode Island, passed away on Sunday, Feb. 11, 2024. John was a marketing representative with Madison Mutual Insurance Company, and was currently serving on the MAIA board of directors.

John was, there’s no other way to say this, John. If you knew him, you get it. He was dynamic, he was energetic and he was endearing. He loved his family and friends and literally would give the shirt off his back if needed. He was born with one “brother” but passed with too many to count.

His passion served him well. He excelled at everything he put his mind to. Growing up, school was an unavoidable distraction but one he easily conquered. Sports were his focus and he willed himself to be one of the best at anything he tried. Following

college he found a new passion, softball.

But to really know John, you don’t need to look any further than his son, Jack. He was his favorite person, his greatest passion and probably his best friend. John nurtured, John taught, John coached and John watched his boy grow into the amazing young man he has become. That was John’s number one focus, and that was John’s proudest achievement.

John will be missed by not only his family and friends, but also the many agents and industry professionals who were lucky enough to cross paths with him over the course of his career.

New associate members

ClientCircle, Hannah Schau, Des Moines, Iowa

EMPLOYERS, Mark Kalicki, Henderson, Nev. Equipment Insurance International, Tom Hill, Fayetteville, N.C.

Horace Mann, Stacy Sweany, Springfield, Ill.

Mountain Life Insurance Co., Michael Noyes, Lexington, Ky.

Recruiting for Growth, Lisa Oxenhandler, St. Louis, Mo.

SynchronyHR, Brian Chase, St. Louis, Mo.

we care about your community. because it’s our community too.

Velino

New faces and places

Valley Insurance Agency Alliance names director of growth

Bill Kaatman has been promoted to director of growth at Valley Insurance Agency Alliance (VIAA). Along with leading the recruiting team, he will also assess potential new agency partnerships to ensure mutually beneficial partnerships.

Kaatman joined VIAA in 2021 with nine years of experience as a partner and principal sales leader in a local independent insurance agency that was within the VIAA family of agencies.

“Bill has an excellent track record of cultivating essential relationships that benefit both our members and our alliance,” said VIAA’s co-founder Henry Powers. “His most recent promotion is a true testament to his hard work, dedication and exceptional development skills. We are proud to have him as part of our team and look forward to all he will accomplish in this new role.”

RPS names new leaders

Risk Placement Services (RPS) has announced the appointment of Kevin Doyle as its chief executive officer. Doyle joined RPS in 2018 as vice president of the Western Region & Chicago, where he took charge of P&C operations in Denver, Salt Lake City, Scottsdale, Seattle, Texas and Chicago.

In 2021, Doyle assumed responsibility for

the Chicago team, overseeing strong organic growth and the successful execution of key priorities. As CEO, he will now lead the company’s efforts to enhance operational efficiency and develop tailored solutions for its clients.

Additionally, Adam Mazan has been named president of RPS, responsible for guiding the strategic direction of the firm’s revenue-generating operations in its binding, brokerage and program administration divisions. Mazan was previously the vice president for RPS’s Pacific-West Region.

UFG appoints chief underwriting officer

United Fire Group Inc. (UFG) is pleased to announce the appointment of Kelly Walsh as chief underwriting officer, effective Dec. 27, 2023.

As chief underwriting officer, Walsh will lead all underwriting functions at UFG, maintaining full profit and loss and strategic accountability across all lines of business, applying a high level of underwriting governance and rigor to each business unit.

“It is an honor to serve as chief underwriting officer,” stated Walsh. “In my new role, I am committed to leveraging my experience to develop profit and growth strategies that will result in strong underwriting performance for UFG.”

SECURA promotes two company leaders

Quality Insurance. Superior Customer Service. The Dairyland Difference.

• Retention tools like easy policy restarts, automatic bill pay, low down payments, annual term, and flexible payment plans

• A brand backed by Sentry Insurance, a Mutual Company with an A+ (Superior) AM Best Rating for 32 consecutive years

Expect affordable car insurance coverage options including:

• Physical damage, collision and comprehensive

• Uninsured/underinsured motorists

Competitive pricing for touring bikes, mopeds, street bikes, and off-road vehicles:

• Value-added coverages, optional equipment up to $20,000 available

• Transport trailer physical damage

For more information, contact: John Barner | Senior Agency Sales Manager | John.Barner@sentry.com

Keith Dieffenbach | Senior Agency Sales Manager | Keith.Dieffenbach@sentry.com

*Dairyland®

SECURA Insurance promoted two company leaders: Christine Cousineau, senior vice president and chief financial officer, and Dan Ferris, senior vice president, chief legal officer, and corporate secretary.

“Christine and Dan are key thought leaders and highly respected members of our executive leadership team," said Garth Wicinsky, SECURA president and CEO. "They both have the ability to say what needs to be said, and do so in a manner that helps the organization maintain culture while making key decisions."

Christine joined SECURA in October 2021 as vice president and chief financial officer. She is responsible for all financial functions of the company, enterprise risk management and human resources.

Dan joined SECURA in 1990 as the corporate attorney. In 2006, Dan was named

Kaatman

Cousineau

Ferris

vice president and general counsel, and he assumed the role of corporate secretary in 2011. In January 2021, Dan was promoted to chief legal officer. Dan oversees the corporate legal, compliance, internal audit and government relations functions at SECURA, and is also corporate secretary.

Brawner Insurance Agency joins Valley Insurance Agency Alliance

Brawner Insurance Agency recently joined Valley Insurance Agency Alliance (VIAA), a cohesive family of more than 160 independent insurance agencies in Missouri and Illinois.

Founded in 1992, Brawner Insurance Agency is led by second generation owner Jared Brawner. The full-service agency is located in Kirksville, Missouri. For more than 30 years, Brawner Insurance Agency has been providing protection for crop, Medicare and personal insurance needs.

Brawner noted that VIAA will enable “our agency to expand the number of carriers we offer, as well as better serve our community’s farmers, businesses and individuals.”

Awards and accolades

Acuity sets growth records in 2023

Acuity announced that in 2023 the company surpassed $2.6 billion in annual revenue for the first time in its 98-year history. The insurer’s 17% growth rate in 2023 generated a record $378.3 million increase in topline revenue.

Acuity’s 2023 growth was fueled by increases across its 31-state operating territory and gains in both personal and commercial lines. With Acuity’s growth comes increased job opportunity: The insurer plans to hire approximately 150 in 2024.

Citizen Travelers honored by the Connecticut Democracy Center

The Travelers Companies, Inc. announced that Citizen Travelers, its nonpartisan civic engagement employee initiative, has received the Connecticut Democracy Center’s (CTDC) inaugural Business Leader Award. The CTDC Awards recognize business and philanthropic leaders who are committed to fostering democracy through acts of citizenship and service.

“This award is a testament to all the people at Travelers who have enthusiastically embraced the cause of strengthening our

democracy through civic engagement,” said Janice Brunner, group general counsel and head of civic engagement at Travelers. “It inspires us to consider what more we can do together, and it reminds us that we all can make a difference.”

Through in-house programming and nonprofit partnerships, Citizen Travelers provides employees with the resources and support to learn more, engage in democracy as informed citizens and help shape civic life in their communities.

Travelers was honored at an awards ceremony at Connecticut’s Old State House on Feb. 1.

Acuity’s communication projects recognized for creative excellence

Acuity Insurance announced that several of its communication projects have earned awards for creativity in national and international competition in 2023:

• Acuity’s annual report received a Platinum MarCom Award, a Gold Hermes Award and a Gold Stevie Award.

• Acuity’s happy birthday videos for its independent agency force received a Platinum MarCom Award, a Platinum Hermes Award and two Platinum AVA Digital Awards.

• Eight of Acuity’s continuing education videos also earned awards.

SECURA named a Great Place to Work

SECURA Insurance is proud to be certified by Great Place to Work® for the eighth year in a row. This certification is based entirely on what employees say about their experience working at SECURA, which is collected through an anonymous survey. This year, 91% of employees said it is a great place to work – 34 points higher than the average U.S. company.

"We are proud to be named a Great Place to Work certified company for the eighth consecutive year," said Sarah Krause, SECURA vice president - human resources. "This certification highlights our employees' genuine feedback about working at SECURA, and the results show our employees are having consistently positive experiences in a variety of areas."

Acuity employees distribute $660,000 to charities

At a December 2023 Town Hall meeting, Acuity employees determined the distribution of $500,000 among six different charitable organizations. Those organizations included Conquer Cancer, the ASCO Foundation; Fresh Meals on Wheels; Mental Health America; Safe Harbor; The Salvation Army; and Sharon S. Richardson Community Hospice.

Based on employee votes, Safe Harbor received the largest allocation of nearly $150,000. The other five groups each received donations ranging from nearly $36,000 to more than $112,000.

Additionally, each Acuity employee was invited to choose any qualifying charity to receive a $100 donation from Acuity, for a total of $160,000.

Other news

Travelers completes acquisition of Corvus Insurance

The Travelers Companies, Inc. completed its previously announced acquisition of Corvus Insurance Holdings, Inc., an industryleading cyber insurance managing general

underwriter that is powered by proprietary technology.

“With a proven platform and deep cyber underwriting and risk management expertise, Corvus brings to Travelers important cyber capabilities,” said Alan Schnitzer, chairman and CEO of Travelers.

Corvus has developed an industry-leading suite of integrated cyber sales, underwriting, service and support capabilities. Through its platform, Corvus effectively identifies vulnerabilities throughout the policy period to reduce customers’ exposure to cyber events. Corvus’ platform also delivers distribution efficiencies to insurance agents and brokers.

Travelers introduces new financial institutions bond for asset managers

The Travelers Companies, Inc. announced that it is now offering a new financial institutions bond specifically for asset managers. The product will help protect asset managers against financial loss caused by employee theft or third-party criminal activity and also includes coverage for social engineering fraud, a scheme where an employee is deceived into transferring funds to an illegitimate account. The new version from Travelers builds nearly 30 endorsements into the standard form and expands the definition of who is an employee, as well as who is an insured, so that it will now include subsidiaries, private funds and special purpose investment vehicles.

The new bond is easier to read and doesn’t require verification for fraudulent instruction coverage. More days are also available to policyholders when they are required to report claim activity.