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August 2011

The Connecticut Independent Agent


“The Connecticut Independent Agent is the official publication of the Independent Insurance Agents of Connecticut 30 Jordan Lane Wethersfield, CT 06109 Phone: (860) 563-1950 Fax: (860) 257-9981 www.iiact.org

The Connecticut Independent Agent This Issue’s Features IIAC Mid-Year Convention

03

Maintaining Policies Locally in Today’s Agency And Emailing Policies to Clients

04

ACT to Host Free Webinar “Facebook for Insurance Professionals”

06

Checklist of Profitable Opportunities to Improve Agency Workflows

07

Month in Review

09

Personal Guarantee Insurance A New Option for Your Commercial Clients

11

Big “I” Government Affairs Update Flood Insurance Extension Bill Passes House

12

Benefits of Living the Trusted Choice® Brand

13

RLI Personal Umbrella Protection for Your Clients

14

IIAC Staff Warren C. Ruppar President Tracy Hearn Office Manager / Event Planner Ed Meaney, CPCU Education Director

Independent Agents Services Staff Laura Szatkowski E&O Program Administrator Rosemary Mullaly Lawyers’ Liability Program RLI This publication is intended to provide accurate and authoritative information on the subject matter covered. It is distributed with the understanding that neither IIAC, nor any contributing author, publisher or contributor is rendering legal, accounting or any other professional service and assume no liability whatsoever in connection with its use. Further, the electronic links to our associate membership found in this publication are provided as a courtesy to our readers and do not necessarily indicate an endorsement by IIAC. News items will be accepted / printed at the discretion of the IIAC. No paid advertisements are accepted in this publication. Please contact Warren Ruppar for further information.

In Every Issue August and September Continuing Education Courses

15

Events

17

Big “I” Advantage Programs

18

2010 - 2011 Officers

20

Committees

20

About Us

25

Associate Member Index Associate Members - Insurance Brokers & Services

21

Associate Members - Insurance Companies

23


IIAC Mid-Year Convention November 10, 2011 The IIAC Mid-Year Convention is scheduled to be held on November 10, 2011 at the Aqua Turf Club in Plantsville. This convention draws 450+ attendees from all avenues of the insurance industry. Every year the business session at the convention provides attendees with 3 continuing education credits for Laws, Regulations and Ethics. The convention exhibit hall is filled with a variety of vendors who offer valuable insurance services and products to better agencies’ success in today’s market. Each year’s program is different from the previous year and has a new course code. Agents who attended last year’s convention will receive CE credit for attending again. Exhibit Hall Open: 8:00 AM - 9:15 AM and 12:00 PM—1:00 PM Morning Business Session: 9:15 AM - 12:00 PM - 3 CE Credits (LRE) Course #TBD Lunch: 1:00 PM—2:00 PM For complete convention details and individual registration forms, please visit the “Events” page of our website. All registrations should be sent to: IIAC, Tracy Hearn, 30 Jordan Lane, Wethersfield, CT 06109 ATTENDEE REGISTRATION FEE MEMBERS/ASSOCIATE MEMBERS EACH ADDITIONAL PERSON FROM MEMBER AGENCY OR ASSOCIATE MEMBER COMPANY NON-MEMBERS NAME OF INDIVIDUAL FOR BADGE: __________________________________________ AGENCY / COMPANY:

$ 95.00 $ 80.00 $155.00 CT Producer Lic. # _________________

_________________________________________________________________________________________

ADDRESS:

____________________________________________________________________________________________________ (include City, State & Zip Code) TELEPHONE: _____________________________________ E-MAIL: __________________________________________________

EXHIBIT BOOTH REGISTRATION FEES (Fee Included one person per booth)

AMOUNT ENCLOSED

MEMBER & ASSOCIATE MEMBER

$325

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NON-MEMBER

$450

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EACH ADD’L PERSON PER EXHIBIT (limit 2 add’l / fee includes lunch) $ 50

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ELECTRICAL OUTLET

$ 70

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WIRELESS INTERNET ACCESS

$ 35

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LIST INDIVIDUAL NAMES AS THEY ARE TO APPEAR ON BADGES: ______________________________________________________________________________________________________________________________________________________________________________

Sponsorship Opportunities Platinum Sponsorship $1000 – includes 2 complimentary full day registrations to the convention, website link, and a full page advertisement (3 ½”w x 7 ½h”) in the convention Program Book. Full page advertisement can include one image file. * Gold Sponsorship $500 – includes 1 complimentary full day registrations to the convention, website link, and a half page advertisement (3 ½”w x 3 ¾ ”h) in the convention Program Book. Half page advertisement can include one image file. * Silver Sponsorship $250 – includes website link and a quarter page advertisement (3 ½”w x 1 ½”h) in the convention Program Book. Quarter page advertisement to consist of text only. * Sponsorship Enclosed: Complimentary attendee: Complimentary attendee:

$__________ Complimentary Registrations - Gold or Platinum Sponsors only _____________________________________________________________________________ (Name and complete address. If CE credits are needed, include Connecticut Producer License Number) _____________________________________________________________________________ (Name and complete address. If CE credits are needed, include Connecticut Producer License Number)

Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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Maintaining Policies Locally in Today’s Agency and Emailing Policies to Clients By Jeff Yates, ACT Executive Director About this article: Many agencies are assessing whether they should continue to maintain policies locally, given their availability on the carrier website. They are also looking at emailing policies to clients. This article provides guidance to agencies considering these questions. The article also outlines opportunities carriers and technology providers have to deliver electronic policies to their agents more effectively. Vendors are also encouraged to make secure client service portals available more cost effectively for the broader agency population to allow clients to access their policies as well as specific carrier sites for servicing through agency websites. As agencies go paperless and carriers stop providing paper policies, agencies have to decide whether to continue to retain policies locally or rely on electronic policy view to access the policies on the carrier’s website. Agencies are also considering whether to begin to email policies to clients, rather than sending them paper copies. Since I get these questions frequently, I decided to reach out to a number of agency consultants and E&O risk management experts to get their insights on these questions. (Please see acknowledgements at the end of this article for the names of these individuals.) Agency Retention of Policies Many agencies have decided to retain commercial lines policies locally, even if they have a good download of policy data and electronic policy view in place, because they find they need to refer to these policies and endorsements frequently when coverage and claims issues arise. In contrast, many agencies with a good download in place have decided not to retain personal lines policies locally, because they are able to handle the typical client inquiries without referring to the policies. Often these questions relate to billing and making a payment and the agents are able to handle these inquiries efficiently by using real-time Billing Inquiry and Make a Payment functionality.

Each agency is different, however, so I have provided a list of considerations to assist agencies in deciding this question: 1. How frequently does the staff need to refer to the actual policies for the line of business and for what purposes? Does the amount of usage justify the amount of time it will take to attach them to the client file? 2. Is there a good download in place for the line of business and is my database accurate? If there is not a good download for the business then the agency will probably want to retain at least the dec page locally. 3. Does the agency use the dec page for policy checking and like to retain it as part of the documentation of the policy checking process? 4. Does the carrier provide links on the dec page to all of the actual policy forms and endorsements applicable to that risk – not just the latest editions of these forms – so that they are easy to access? 5. Has the carrier provided a contractual guarantee that the agency will continue to have access to its policy information in the event the carrier or the agency terminates the relationship? This commitment should be for the statutory period in which the agency must retain this information (usually seven years). 6. Do the applicable state laws require the agency to retain the policy documents locally or is access to them at the carrier website sufficient? Agencies should go through the same analysis with regard to their E&S policies. Industry Opportunity Since many agencies have made the decision to retain commercial lines policies locally, it is incumbent on carriers and agency management system providers to make it as simple as download for agencies to attach these policies to their client files. One approach would be to give the agency the option to have the carrier download PDFs of policies (new, renewal and endorsements) each evening using real-time Activity Notifications and Alerts. An option could even be given to receive the dec pages with links to the actual policy forms or the complete policies.

Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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Agency management systems should have the capability to route these notifications to the appropriate person in the agency for checking and attachment to the client file. Using this real-time workflow would be an improvement over the emailing of these policies because of the added security and transmission directly into the agency management system.

There are several issues for agencies to assess and then incorporate into their procedures when considering such a change in delivery:

Since some agencies use the personal lines dec pages to check policies for accuracy and then retains them, the same workflow should be made available to agencies for personal lines.

2. Secure the advance agreement of the client to receive policies electronically by email.

Delivering Client Policies Electronically Agents are generally supportive of personal lines carriers that give clients discounts in order to go paperless and access their policies electronically. In the commercial lines and E&S markets, however, many agents are concerned about the inefficiency and cost shifting that takes place when carriers stop sending the paper policies to the agent for delivery to the client, because many insureds still want the paper. Electronic policies represent the future and are more efficient in many ways (no mail time, do not to be scanned into agency system, potentially save printing costs). Agents should encourage their clients to make the transition to electronic policies, in the same way that other financial services companies are inviting their clients to move to electronic delivery. Carriers, in turn, should help their agents with this transition by providing them with electronic policies and the option to receive paper copies for clients who are not ready to accept the electronic model. Many agencies like to deliver commercial lines policies to their insureds personally and are now delivering these policies on a CD as a “value add,” where clients agree to this method. Several larger agencies provide a secured area on their website where clients can access their policies. Hopefully, technology providers will increasingly provide turnkey solutions for the broader agency population so that they can provide their clients a secured portal for accessing their policies, as well as linking to their carriers to make payments and perform other self-service functions. This is an area in which ACT’s Consumer Functionality Work Group is trying to spur more industry action. Emailing Policies to Clients In this emerging “paperless” environment, many agencies are considering emailing policies to their insureds.

1. Confirm that the particular state’s laws and regulations permit the emailing of policies and do not require that the insured be provided a physical copy.

3. Provide in the email attaching the policy a request that the client acknowledge receipt of the email and policy by return email and have a procedure – that is consistently followed – of following up with the insured if he/ she does not acknowledge receipt. 4. Include in the email a disclaimer that the insured should read the policy to ascertain that its limits and coverages are appropriate for its needs and that it should contact the agency if it would like to add any coverages or make any changes. The notice should also give the insured the option to elect to receive paper policies. (This disclaimer should be provided in the cover letter that accompanies the personal delivery of a paper policy or CD as well.) 5. Check the policy for accuracy before sending as provided in the agency’s procedures. 6. Send the email by secure email if the policy contains any private personal information under the applicable state and federal privacy and data breach notification laws. Such private information might include the federal employer identification number, driver license numbers, etc. ACT encourages the use of TLS email encryption for secure email, and TLS works very well in agent-carrier communications when both parties have it. A proprietary secure email solution, however, will be necessary for many client communications when the client does not have TLS. 7. Deliver the policy to the client promptly after being received – whether emailed or delivered personally – and avoid any agency backlog in policy deliveries. 8. Document in the agency management system that the policy has been sent, the steps taken to follow up if necessary and attach the transmittal email in unalterable form.

Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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The emergence of a paperless environment is precipitating changes in agency workflows and is creating opportunities for carriers and technology providers to provide new tools to help agencies function more efficiently in this new environment. These new tools include the use of Activity Notifications and Alerts to send electronic policies to agencies and the availability of easy to use and cost effective “plug ins” to enable agencies to provide secure portals for their clients to access documents and to perform other services online. I’d appreciate receiving your thoughts on how your agency and the industry can best adapt to these trends (jeff.yates@iiaba.net). Acknowledgements: I would like to thank the following agency consultants for their insights on these issues: Pat Alexander, Steve Anderson and Laura Nettles. I’d also like to thank the following agency E&O risk management experts: Dave Hulcher, IIABA; Jim Keidel, Keidel, Weldon & Cunningham; and Sabrena Sally, Westport Insurance Corporation. Thanks also to the ACT Agent Feedback Group for its input. Jeff Yates is Executive Director of the Agents Council for Technology (ACT) which is part of the Independent Insurance Agents & Brokers of America. Jeff can be reached at jeff.yates@iiaba.net. This article reflects the views of the author and should not be construed as an official statement by ACT.

ACT TO HOST FREE WEBINAR: “FACEBOOK FOR INSURANCE PROFESSIONALS” Webinar to address how independent agents can use Facebook to communicate with customers and grow their business. The Independent Insurance Agents & Brokers of America’s Agents Council for Technology (ACT) will host a free one hour webinar titled “Facebook for Insurance Professionals” on Aug. 9, 2011 at 2:00 p.m. EDT. “ACT continues to offer practical ‘how to’ webinars customized to the needs of independent agents to help them get the most benefit from using social media,” says Jeff Yates, ACT executive director. “This webinar is designed to help independent agents and brokers maximize the use of Facebook to increase customer communication, strengthen client relationships and attract new business.” The webinar will cover how to set up a Facebook “fan page,” utilize Facebook to increase brand awareness and market share, explain how Facebook ads work and connect with clients and prospects. TITLE:

“Facebook for Insurance Professionals”

PARTICIPANTS: Cindy Donaldson, Founders Insurance Group Rick Morgan, Chair of ACT's Social Web Work Group Jeff Yates, ACT executive director (moderator) DATE:

Tuesday, Aug. 9, 2011

TIME:

2:00 – 3:00 p.m. Eastern

REGISTRATION: Click HERE or go to https://www1.gotomeeting.com/register/604226336 COST:

Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

Free

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Checklist of Profitable Opportunities to Improve Agency Workflows By Laura Nettles, Nettles Consulting Network, Inc. 1.

Establish Workflow Guidelines Eliminating Unnecessary Steps Evaluate effective use of diary follow up feature allowing enough time to receive and process each transaction Eliminate redundant use of cover letters Replace printing and mailing all correspondence and ACORD forms (certificates, binders, applications) with e-mail and electronic faxing Implement download with all carriers if available - monitoring to ensure data integrity

2.

Streamline Routine Processes Stop paper with downloaded carriers Eliminate traditional paper second requests – instead always call for follow up Check and invoice policies and endorsements as received – do not hold Process endorsement request on-line – eliminate hand-written notes

3.

Evaluate Service Structure Consider combining small commercial and personal lines into a Family Business Unit Increase capacity in mid/large commercial unit by: Moving smallest accounts from small commercial unit to a service center Move smaller accounts currently in mid/large commercial unit to the small accounts unit (you actually increase the commission threshold for the small accounts unit) Define the service and processing role by: upgrading the role of the assistant to assume more of the routine processes like issuing on-demand certificates, policy checking, processing endorsements, audits, cancellations, etc. freeing up the CSR (from routine processes) to be more service oriented providing quality support to clients and producers in the marketing process and dealing with complicated insurance issues Consider centralizing processing by having all incoming routine requests (certificate request, endorsement requests, etc.) go to a central processing unit and distribute according to volume Offer 24x7 service to clients

4.

Implement Transactional Filing in All Departments Personal Lines Small Commercial Lines Commercial Lines Benefits Claims

5.

Define Workflow Guidelines Integrate agency management system and practical insurance process Create task forces to define guidelines Define service standards Establish workflow steps streamlining wherever possible Establish monitoring guidelines to ensure compliance

This checklist is provided courtesy of Laura Nettles, President of Nettles Consulting Network, Inc., which specializes in helping agencies improve performance and production through workflow consulting, automation implementation, and change management. Laura’s e-mail is: lnettles@nettlesconsulting.com. Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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6.

Streamline Certificate Process Implement client issued certificates on-line E-mail or electronically fax all certificates to holders, client and carriers Document source of certificate request on-line Discard supporting documentation

7.

Streamline Endorsement Process Train clients to request routine endorsements via e-mail or fax Eliminate second request – call carrier for follow up Process and invoice endorsements as received – do not hold Eliminate cover letters

8.

Streamline Renewal Process Establish a renewal time-line creating target dates for tasks including: Meeting with production, marketing, claims and service to determine renewal strategy Guidelines for gathering updated renewal information Submission guidelines for getting complete and accurate submission to markets Submission guidelines for renewing with incumbent carrier Tracking methods for conversations and follow up Proposal guidelines Binding coverage guidelines Define ownership of renewal time-line by Defining responsibility for each task in the time-line (producer or CSR) Having the CSR make sure all tasks get done according to the time-line regardless of who actually does the task Use system generated schedules and summaries to gather updated renewal information Order loss runs on-line Prepare and track submissions electronically Implement integrated proposal system Obtain policy numbers and payment plans from the carrier when binding coverage

9.

Streamline Claims Process Move clients to direct report Establish guidelines for monitoring claims Eliminate unnecessary carrier follow up – only follow up based on a request from the client or producer Implement a client service schedule defining claims monitoring for each client – consider including a follow up with the client when the claim is settled

10.

Define Document Management Guidelines Use agency management system as primary electronic file Define guidelines for storing third party documents outside the agency management system Implement scanning

11.

Be Prepared to take Agency Workflows to the Next Level Attend User Group Meetings Attend Industry Conferences (ACORD, High Tecc, Big I, etc.)

Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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MONTH IN REVIEW IIAC Agent Notice Originally Released on July 21, 2011 Connecticut Insurance Commissioner Issues Surplus Lines Bulletin Insurance Commissioner Leonardi has issued a new Bulletin SL-2 which implements the requirements of the Federal Nonadmitted and Reinsurance Reform Act in Connecticut. There are several changes in placing Surplus Lines Insurance due to the change in federal law and we urge you to read this bulletin. IIAC also urges the membership to review again the changes made in Bulletin SL-1 as well. This bulletin addresses the issue of affidavits.

COMMISSIONER LEONARDI: APPLICATIONS FOR LICENSES GOING ALL PAPERLESS ON AUGUST 1 Online Applications Part of Statewide Push For More Efficiencies, Cost-Savings Connecticut Insurance Commissioner Thomas B. Leonardi has announced that beginning August 1, 2011 applications for licensing will be accepted and processed only online, another move the Department is making toward greater efficiency and most cost-savings for the state. The Commissioner noted that the Department already allows licensees to print their licenses online, resulting in postage, printing and other savings to the state. “We will be able to process applications with greater speed and we want to make sure that licensees are notified well in advance of the August 1 switch,” Commissioner Leonardi said. “The Department continues to update and improve our online services so that we can better serve consumers, licensees and the industry. So much of what we do in our everyday lives is handled with the click of a mouse or key stroke – whether it’s paying bills, buying goods or making appointments – that we anticipate a seamless transition.” The online system will apply to new, reinstatement and amendment applications only for: Producer (Residents Only) Surplus Lines Broker Casualty Claim Adjuster Certified Insurance Consultant Life Settlement Broker Motor Vehicle Physical Damage Appraiser Public Adjuster Reinsurance Intermediary Beginning August 1, applications must be completed online at CID Licenses Online. For more information on the August 1 licensing change, contact the CID Licensing Division at 860-297-3845 or by e-mail at cid.licensing@ct.gov ATTENTION PRODUCERS: Non-resident producer applications must be completed at National Insurance Producer Registry (NIPR) Resident producer may also complete their applications at National Insurance Producer Registry (NIPR) Resident and non-resident producer renewals must be completed at National Insurance Producer Registry (NIPR) To read the original copy of this bulletin posted on the Connecticut Insurance Department website, click here. Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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MONTH IN REVIEW IIAC Agent Notice Originally Released on July 12, 2011 MetLife Auto & Home Announces New Program with GM Industry News MetLife Auto & Home Announces New Program with GM MetLife Home & Auto recently announced a new program they are launching with General Motors (GM) where GM will offer/provide a one year paid auto policy for new GM car purchases and leases. This program is being tested in two pilot states — Washington and Oregon — beginning on July 6th. Here are the details of the program: Summary of New Program with GM Qualifying customers on a lease OR new purchase of 2010, 2011 or 2012 GM GM will offer/provide a 1 year PAID auto policy (dealers being trained this week in Detroit) Policy: Standard package 100,000 liability limits Rental, tow, replacement cost for total loss, etc Customer can “buy up” if they want more coverage on the policy Existing MetLife Auto & Home IA policy holders Intent will be to pay full commission for the year After 1 year, the policy will be transferred back to the agent Non MetLife Auto & Home Customer (with an IA) Met will not pay commissions and the policy will not be transferred automatically back to the agent – Met will call policy holder to offer Met policy after one year. This is a PILOT Program July 6 – Sept. 6 (60 day pilot by GM) 2 States: Washington & Oregon (MetLife will be in touch with IIABA pilot state execs by July 6 to relay news) After pilot, GM will determine whether to end program or expand/extend Currently filed and approved in 17 states 3 states rejected: California, Montana & South Dakota Customer “Qualifying” Criteria: Valid Driver’s License (no MVR will be ordered for pilot program) Car must be registered in pilot state Car cannot be used for commercial use IIABA staff member Beth Montgomery was briefed on this pilot program during a recent conference call with MetLife Auto & Home. IIABA has submitted MANY questions to MetLife about the program, not the least of which are producer licensing and potential anti-rebating law violations. You can be sure that we will provide you with additional information and answers to the questions by IIABA as soon as available.

Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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Personal Guarantee Insurance: A New Option for Your Commercial Clients For years, banks have required business owners to personally guarantee their commercial loans. This means if the business defaults on the loan, the bank can go after the owner’s personal assets to satisfy the guarantee. Even if the business is incorporated or is an LLC, signing a personal guarantee gives the bank permission to pursue personal assets to repay the loan. The IIAC has partnered with Asterisk Financial, Inc. to make available to you Personal Guarantee Insurance TM (PGI). PGI insures the personal risk from commercial loans and will cover up to 70% of the net liability, depending upon the coverage purchased and the terms of the policy. Which of your clients would be interested in PGI? Business owners with significant personal assets, one or more business partners, or a limited time horizon to rebuild should their business fail. Real estate investors who signed a personal guarantee. Someone who signed a personal guarantee for a family member (e.g. – spouse) or friend to help them secure a loan. And because PGI is a new and unique product, PGI provides you with a “door opener” to cross-sell other insurance products. Commercial clients who have had to sign a PG should quickly understand the benefits of PGI. Additionally, it’s an easy product to sell. All you need to do is introduce the concept of PGI to your client and the team at Asterisk can take it from there. To learn more about PGI and to see a list of states where PGI is available, you can visit www.personalguaratee.com, email info@asteriskfinancial.com, or call the IIAC Program Manager, Angelo Tebano at 860-704-4728. For More About PGI: For a quick overview of PGI, see the following animated demonstration: Personal Guarantee Insurance Animated Demo (2 minutes). If you would like further information on PGI, there are regularly scheduled training webinars held on the third Wednesday of every month from 2:00-3:00pm ET. Register today for our next producer training course. To access valuable selling tips and information you can share with your commercial clients, simply register on our producer site: www.personalguarantee.com/producers

Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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Big “I” Government Affairs Update Flood Insurance Extension Bill Passes House The House of Representatives has overwhelmingly passed H.R. 1309, the Flood Insurance Reform Act of 2011. This legislation extends the National Flood Insurance Program (NFIP) for 5 years and makes needed reforms to the program. The Big “I” STRONGLY supported H.R. 1309 and lobbied aggressively for its passage. The final vote on passage was a landslide at 406 yeas – 22 nays. In addition to the 5 year extension of the NFIP, the Flood Insurance Reform Act also phases out subsidies from many properties, indexes the maximum coverage limits to inflation (retroactive to 1994), increases the annual limit on premium increases from 10% to 20%, allows FEMA to offer optional business interruption and additional living expenses coverage if certain conditions are met, provides that consumers can make premium payments in quarterly installments instead of a lump sum, and provides a phasein of actuarial rates for properties that are mapped into a mandatory purchase requirement due to the ongoing map modernization project. In addition to securing an overwhelming vote for final passage, the Big “I” also scored tremendous wins during the amendment process. In fact, the Big “I” took a formal position on 6 important amendments, and we won on ALL six amendment votes. Below are the key amendments that the Big I took a position on and their results. Flake DEFEATED 118 – 305 - Would have eliminated business interruption and additional living expenses coverages. It should be noted that the conservative think-tank the Heritage Foundation key-voted a YES vote on this amendment. Miller DEFEATED 38 - 384 - Would have terminated the National Flood Insurance Program by 2013. Sherman/Bachus/Meeks ACCEPTED BY VOICE VOTE - Directs FEMA to limit the NFIP Direct program to 10% of total NFIP policies, to transfer excess policies back onto the WYO carriers, and authorize FEMA to refuse future transfer of policies to NFIP Direct. Ros-Lehtinen DEFEATED BY VOICE VOTE - Would have eliminated the increase in annual limit on premium increases from 10% to 20%.

Speier DEFEATED- Would have forced lenders to accept flood insurance on the outstanding principal balance of the loan as opposed to full replacement cost. Westmoreland ACCEPTED BY VOICE VOTE - Adds a reserve fund requirement to the NFIP.

In, above and outside of the NFIP Flooding occurs anywhere – at any time! So every property customer of an IIABA member agent has a need for flood insurance. They may not be required to have flood insurance as a condition of their loan, but because it can rain anywhere, there is a need for flood insurance everywhere. The Big “I” Flood Program with company partners, offers flood coverage within, above and outside of the National Flood Insurance Program (NFIP). Selective Insurance, our endorsed WYO offers the primary NFIP policies with an ease of doing business, competitive commission and the latest technology for quoting, placing and servicing of flood insurance. With expert and dedicated staff at the Big “I” and Selective Flood Operations, we are able to help the agent through the entire sales process as well as provide the underwriting and claims handling necessary to retain the business. If higher limits are needed above what NFIP has to offer, Wells Fargo Special Risks and their in-house underwriters are available through a Big “I” Markets submission providing excess flood limits over any NFIP policy to an aggregate $20,000,000 limit using various Lloyds of London syndicates. And if you happen to have a property that is ineligible for the NFIP such as one located in a Non-Participating Community or has been designated as a Coastal Barrier Resources Act or Other Protected Property, Wells Fargo Special Risk can help with those properties as well. Our program has been changing to keep up with the marketplace, so check out our program information at www.iiaba.net/flood or www.bigimarkets.com . Contact: Linda Mackey, CIC, CISR, AIMA, Big “I” Flood Program Manager at 800-221-7917, Ext. 5380 or e-mail: linda.mackey@iiaba.net .

Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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Benefits of Living the Trusted Choice® Brand Trusted Choice® is the national marketing brand created exclusively for Big “I” members to help consumers understand the value that an independent insurance agent offers. This is not a market access program, but a consumer brand that is designed to highlight the strength of independent insurance agents: Choice, Customization, and Advocacy. Trusted Choice®agencies benefit from the following: Licensed use of the consumer tested Logo & Pledge of Performance Resonates with consumers and reinforces the value of doing business with independent agents Exposure through a national advertising and public relations campaign National cable TV ads run 2 weeks out of every month Extensive online/Facebook presence; www.facebook.com/TrustedChoice Customizable advertising materials Little to no production costs for your agency Agency contract information can be included on all ad materials Four TV ads, 14 radio ads, 10 print ads and five billboard ads are available Inclusion in the online Agency Locator, so that consumers can find your agency when visiting www.TrustedChoice.com Informative consumer articles Use in newsletters, on websites, social media or as part of a mailing Share how-to articles (Prepare Your Home for Winter), consumer interest articles (Pool Safety, Flood Insurance) and consumer guides (Graduate’s Guide to Insurance) Customizable press release templates Helps garner local press coverages for your agency Positions your agency as local authority on insurance Syndicated Content Feed (RSS) for website Automatically refreshes consumer content monthly Articles contain topical and accurate insurance content Support from our many Trusted Choice®Company Partners Participation in the Marketing Reimbursement Program (MRP) Get up to $500 back for co-branding your website and promotional items with Trusted Choice®

We’ve Got the Tools . . . To Maximize Your Marketing Power To learn more about the benefits of being a Trusted Choice agency, visit www.TrustedChoice.com/agents Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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For more information on this program, please contact Rose Mullaly at 860-563-6510 or rmullaly@iiac.org Or visit the “Member Resources� page of our website www.iiact.org

Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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ACSR #4 E&O Loss Control 8:30 - 4:30

Professional Development & Acc’t Mgmt. 8:30 - 4:30

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Laws, Regulations & Ethics Seminar 8:30 - 12:10

L&H Pre-

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FLOOD Insurance 8:30 - 11:30

A COMPLETE ANNUAL CALENDAR CAN BE OBTAINED ON THE “EDUCATION” PAGE OF OUR WEBSITE CONNECTICUT CONTINUING EDUCATION REQUIREMENTS All resident agents are subject to continuing education for every line of authority. The Connecticut Insurance Department has an extensive website (www.ct.gov/cid) offering information on licensing, forms, statutes, regulations (proposed and finalized) Please take advantage of this web site for valuable information. Individual transcript information can be obtained by accessing www.sircon.com. Once on the website, select “For Individual Agents” from the “Products and Services” menu. Under “Quick Start for Agents” (at the top of the page) select “Look Up Education Courses / Credits.” This will bring you to an “Inquiries” page. Select “Continuing Education Transcript Inquiry.” Select “Connecticut” from the drop-down menu. Enter your license number and last name and click “submit.” You will now be able to view and print your transcript. Please note that transcripts are only accessible using producer license numbers. Social Security numbers are no longer usable. Flood Insurance Course Requirement Newly licensed agents are required to complete a flood program course during their first compliance period.


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Long Term Care Basics 8:30 - 11:30 Annuity Basics 12:30 - 3:30

A COMPLETE ANNUAL CALENDAR CAN BE OBTAINED ON THE “EDUCATION” PAGE OF OUR WEBSITE CONNECTICUT CONTINUING EDUCATION REQUIREMENTS All resident agents are subject to continuing education for every line of authority. The Connecticut Insurance Department has an extensive website (www.ct.gov/cid) offering information on licensing, forms, statutes, regulations (proposed and finalized) Please take advantage of this web site for valuable information. Individual transcript information can be obtained by accessing www.sircon.com. Once on the website, select “For Individual Agents” from the “Products and Services” menu. Under “Quick Start for Agents” (at the top of the page) select “Look Up Education Courses / Credits.” This will bring you to an “Inquiries” page. Select “Continuing Education Transcript Inquiry.” Select “Connecticut” from the drop-down menu. Enter your license number and last name and click “submit.” You will now be able to view and print your transcript. Please note that transcripts are only accessible using producer license numbers. Social Security numbers are no longer usable. Flood Insurance Course Requirement


2011 IIAC EVENTS 22nd Annual Golf Tournament Sponsored by the IIAC Young Agents Committee August 4, 2011 Blackledge Golf Course, Hebron, CT TOURNAMENT IS FULL Mid-Year Convention November 10, 2011 Aqua Turf Club, Plantsville, CT Spring Conference Sponsored by the IIAC Young Agents Committee Was held on May 12, 2011 Saybrook Point Inn, Old Saybrook, CT Annual Dinner Meeting and Installation of Officers Was held on June 16, 2011 St. Clement’s Castle, Portland, CT Additional information and registration forms for the above events can be obtained by clicking on the event name above, going to the “Events” page of our website or by contacting Tracy Hearn at 860-563-1950 or emailing to thearn@iiac.org.

Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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ARE YOU TAKING ADVANTAGE

??

??

OF ALL YOUR MEMBERSHIP HAS TO OFFER??

Big “I” Advantage Programs

Big “I” Professional Liability As a member of your state association, you have access to the Big “I” Professional Liability program, the most respected and comprehensive program in the business offering a variety of insurance agent’s E&O products that are hand-selected for their superior reputation and exceptional performance. With comprehensive rates and a long-term market, the Big “I” Professional Liability program is properly positioned to meet your professional needs, protecting the future of your agency. www.iiact.org - Member Resources page / Or call Laura Szatkowski at 860-563-6510

Big “I” Markets Exclusively available to Big “I” members, IIABA’s online market access program features specialty/niche coverages, program business and hard-to-find markets. Unlike similar programs, there are no registration fees, no volume commitments and competitive commissions. www.bigimarkets.com

Big “I” Flood Big “I” Advantage operates as a managing general agency and agents participate as sub-producers for the Big “I” Flood Program. Selective Insurance Company is our provider for this NFIP Write-Your-Own program and they make writing flood insurance easy and profitable leaving the method of quoting up to the agent. www.independentagent.com/flood.

Big “I” Retirement/Benefits Having trouble deciding which retirement plan is right for you or your agency? Big "I" Retirement Services is here to help you choose which plan best meets your circumstances. They offer quality investments, state of the art administration and the support of your association as an advocate for your agency. Look to us also for Group Long Term Disability, Group Short Term Disability and Group Term Life Insurance. www.independentagent.com/retirement .

RLI RLI's Personal Umbrella Policy stands atop your client’s existing homeowner and auto insurance to provide an extra layer of personal liability protection. With RLI's PUP program, auto or home coverage can be maintained with any insurance company provided the mandatory minimum underlying coverage limits are met. RLI’s @Home Business policy, responds to the needs of over 100 eligible business classes on an ISO BOP form. Premiums starting at $150, competitive commissions, easy underwriting and a self-rating application should makes this product an easy sell. www.iiact.org - Member Resources page / or call Rose Mullaly at 860-563-6510.

Business Resources Enjoy group discounts for a variety of services to assist in managing your agency. Caliper (employee testing) ; DHL (express delivery); Mines Press (printing); Big “I” Store (logowear); Hertz (car rental); Artizan Internet Services (Service 911, CSR 24). www.independentagent.com. Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

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ARE YOU TAKING ADVANTAGE

??

??

OF ALL YOUR MEMBERSHIP HAS TO OFFER??

Big “I” Advantage Programs

InsurBanc InsurBanc is an independent community bank founded by agents exclusively for agents. You can rely on InsurBanc for custom products designed to underwrite your success, like acquisition and perpetuation financing and cash management services perfectly suited to the way you do business. www.insurbanc.com.

Virtual University www.independentagent.com/vu

Research Library For those who seek a smarter way to research, the VU provides access to hundreds of insurance, business and technology articles written by volunteer faculty and other contributors. Technical insurance articles and white papers on issues affecting today’s marketplace, often include links to full sample ISO forms. Resources in the VU are limitless.

Ask an Expert Service Sometimes you need answers to questions that can't be found in the research library. To help with these "just in time" issues, we have assembled a faculty of leading experts from around the country. Big "I" Members can submit questions to our "Ask an Expert" service and a response is usually sent within 3-5 business days, but often sooner.

Online Courses The VU offers a wide variety of online classes to enhance and expand insurance technical and business skills. Many designation programs are also available through the Virtual University.

Best Practices The Best Practices program provides member agents with meaningful performance benchmarks and business strategies that can be adapted to improve the performance of your agency, thus enhancing agency value.

Trusted Choice® In a world full of millions of media messages each day, differentiating the services of independent agents and brokers to consumers is critical. Trusted Choice®, the national consumer branding program sponsored by the Big “I”, uniting more than 10,000 independent agency locations and 53 insurance companies. Based on extensive consumer and industry research, Trusted Choice® highlights the value of the independent agent distribution channel: choice, customization and advocacy. www.trustedchoice.com

Governmental Affairs The Big “I” is your advocate on the issues that matter to your success, whether the issues occur in state legislatures, Washington D.C., your state insurance department, the NAIC, or the judicial system. Through common-sense, pragmatic legislative initiatives, we seek to protect your business while keeping the consumer in mind. Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

Page 19


2010 - 2011 Officers Chairman Tom Wilson The Wilson Agency, Shelton Chairman-Elect Michael Gergler, CIC Wilcox & Reynolds, Storrs Treasurer Jim Suzio, CIC Suzio Insurance Center, Inc., Meriden Secretary Kim McGillicuddy, CPCU Pierson & Smith, Inc., Norwalk State Director Spencer Houldin Ericson Insurance Services, Washington Depot

IIAC Committees The Independent Insurance Agents of Connecticut has several committees which are dedicated to furthering both the benefits of membership and the professionalism of individuals within the insurance industry. Committee members are volunteers who are either an owner or an employee of a member agency. IIAC is always looking for new individuals to serve on its committees. If you are interested in becoming a committee member, please complete the information below and return this form to: IIAC, 30 Jordan Lane, Wethersfield, CT 06109 or email to the committee staff liaison Name: ___________________________________________________________________________________ Agency & Full Address: ______________________________________________________________________ Phone: (______)__________-__________

E-Mail: _____________________________________________

Indicate Committee: ________________________________________________________________________ Education Committee – members help create IIAC programs and locate teachers and resources. Staff Liaison, Ed Meaney, emeaney@iiac.org Executive Committee – members must be a principal in an IIAC member agency and are part of the governing body of the association. Membership on the committee is limited and must be voted upon by the Board of Directors. Staff Liaison, Warren C. Ruppar, wruppar@iiac.org Technical Committee – members analyze current industry topics and issues, make recommendations on how to handle, and funnel information to the Education Committee to create programs. Staff Liaison, Ed Meaney, emeaney@iiac.org Young Agents Committee – members create networking programs to promote young professionals in the insurance industry. Staff Liaison, Tracy Hearn, thearn@iiac.org Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

Page 20


ASSOCIATE MEMBER INSURANCE BROKERS AND SERVICES

ASSOCIATE MEMBER INSURANCE BROKERS AND SERVICES

(Click on the website for a direct link)

(Click on the website for a direct link)

Absolute Logic 917-658-9008 www.absolutelogic.com

Paul Davis Restoration 860-539-0911 www.pdrestoration.com

ACE Private Risk Services 860-828-7931 www.aceprivateriskservices.com

Deep South 410-771-0682 www.deep-south.com

Agility Recovery 704-341-8700 www.agilityrecovery.com

Demetriou General Agency, Inc. 212-897-6912 www.demetriougroup.com

Arthur J. Gallagher Risk Management Services, Inc. 860-560-2766 www.ajg.com

Fairfield County Bank 203-431-7527 www.fairfieldcountybank.com

Auto Glass of New England, LLC 203-375-4700 www.autoglassofnewengland.com

W. Ford Agency, Inc. 203-549-0005 www.wfordagency.com

Broadway Premium Financing 800-728-7255 www.broadwaypremium.com

Gill and Roeser Holdings, Inc. 212-972-3306 www.grholdings.com

CATIC Exchange Solutions, Inc. 860-513-3131 www.caticexchange.com

Glass America 860-444-6344 www.glassusa.com

Connecticut Interlocal Risk Management Agency 203-498-3000 www.ccm-ct.org/insurance/

HSB Associates, Inc. 860-722-5539 www.hsb.com

Connecticut Underwriters, Inc. 860-347-9600 www.ctunderwriters.com

Insurance Agency Accounting & Bookkeeping 860-614-7268 www.brendadicarlollc.com

Crystal Restoration Services 203-853-4179 www.crystal1.com

Insurance Engineering Solutions 860-429-5156 www.insuranceengineeringsolutions.com

For information on how to become an Associate Member of the Independent Insurance Agents of Connecticut and a complete list of benefits, please visit the “Join” page of our website or contact Rose Mullaly at 860-563-1950 or email rmullaly@iiac.org Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

Page 21


ASSOCIATE MEMBER INSURANCE BROKERS AND SERVICES

ASSOCIATE MEMBER INSURANCE BROKERS AND SERVICES

(Click on the website for a direct link)

(Click on the website for a direct link)

InsurBanc 866-467-2262 www.insurbanc.com

Mergers & Acquisition Services 212-750-0630 www.merger-acquisition.net

Iroquois of Connecticut, Inc. 860-621-8412 www.iroquoisct.com

Oakbridge Insurance Services 860-906-0120 www.oakbridgeins.com

Kapura Cleaning & Restoration 860-747-2100 www.kapurarestoration.com

Premium Assignment Corp. 603-421-1953 www.premiumassignment.com

Joseph Krar & Associates 860-628-3967 www.jkrar.com

JN Phillips Auto Glass 781-939-3400 www.877autoglass.com

J.P. Maguire Assoc., Inc. 800-233-8220 www.jpmaguire.com

Pro-Klean Cleaning & Restoration Services, Inc. 866-463-2313 www.pro-klean.com

McGrath Insurance Group, Inc. 508-347-6850 www.mcgrathinsurance.com

PuroClean Mitigation Services 860-516-8083 www.puroclean.com

Anthony J. Martini & Co., Inc. 203-445-6640 www.thatsmybroker.com

Renaissance Group, Inc. 860-307-2957 www.renaissanceins.com

Maynard Insurance Group 203-318-0008 maynardinsgrp@yahoo.com

Servicemaster QRV Regional Group 203-386-1565 www.servicemastergb.com

For information on how to become an Associate Member of the Independent Insurance Agents of Connecticut and a complete list of benefits, please visit the “Join” page of our website or contact Rose Mullaly at 860-563-1950 or email rmullaly@iiac.org

Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

Page 22


ASSOCIATE MEMBER INSURANCE BROKERS AND SERVICES

ASSOCIATE MEMBER INSURANCE COMPANIES

(Click on the website for a direct link)

(Click on the website for a direct link)

ServiceMaster by Wills 860-447-3265 www.servicemasterbymason.com

Acadia Insurance Company 860-331-2391 www.acadiainsurance.com

SERVPRO Cleaning and Restoration of New Haven, Waterbury & Naugatuck Valley 1-800-243-8812 www.servproofnewhaven.com

American Commerce Insurance Company A MAPFRE Company 800-922-8276 www.acilink.com

SERVPRO of Manchester-Bolton 860-649-0836 www.servproofwesthartford.com

The Andover Companies 860-257-7286 www.andoverco.com

Steamatic of CT 203-985-8000 www.steamaticct.com

Chubb & Son Insurance 203-782-4115 www.chubb.com

Target Insurance Services 860-284-0088 www.target-capital.com

C N A Insurance 860-513-6460 www.cnacentral.com

Thompson Agency, Inc. 860-693-4999 www.thompsonagency.net

Connecticut Fair Plan 860-528-9546 www.ctfairplan.com

Travel Insured International, Inc. 860-528-7663 www.travelinsured.com

FirstComp 888-500-3344 www.firstcomp.com

United Cleaning & Restoration, LLC 800-835-0740 www.unitedcr.com

General Casualty Insurance 860-570-0802 www.generalcasualty.com

XS Brokers Insurance Agency, Inc. 617-471-7171 www.xsbrokers.com

Great N.Y. Mutual Insurance Company 860-652-7090 www.gny.com Harleysville Worcester Insurance Company 800-225-7387 www.harleysvillegroup.com

For information on how to become an Associate Member of the Independent Insurance Agents of Connecticut and a complete list of benefits, please visit the “Join” page of our website or contact Mullaly at 860-563-1950 email rmullaly@iiac.org Independent Insurance Agents Rose of Connecticut - www.iiact.org - August or 2011 Page 23


ASSOCIATE MEMBER INSURANCE COMPANIES

ASSOCIATE MEMBER INSURANCE COMPANIES

(Click on the website for a direct link)

(Click on the website for a direct link)

The Hartford 860-409-6150 www.thehartford.com

PMA Insurance 203-379-3825 www.pmagroup.com

HCC Global Financial Products 860-674-1900 www.hcc-global.com

Progressive Insurance Company 800-274-4055 www.progressiveagent.com

The Hingham Group 781-749-0841 www.hinghammutual.com

Safeco Insurance 603-358-4156 www.safeco.com

Kemper, A Unitrin Business 203-775-5846 www.ekemper.com

State Auto Insurance Companies 860-633-4678 www.stateauto.com

MetLife Auto & Home 860-668-2699 www.metlife.com

Utica National Insurance Group 800-695-1914 www.uticanational.com

MiddleOak 860-638-5132 www.middleoak.com NLC Insurance Company 860-887-3553 www.nlcinsurance.com Ohio Mutual Insurance 419-563-0959 www.omig.com Peerless Insurance 860-571-2201 www.peerless-ins.com Pennsylvania Millers Ins. Co. 860-677-8488 www.pennmillers.com

For information on how to become an Associate Member of the Independent Insurance Agents of Connecticut and a complete list of benefits, please visit the “Join” page of our website or contact Mullaly at 860-563-1950 email rmullaly@iiac.org Independent Insurance Agents Rose of Connecticut - www.iiact.org - August or 2011 Page 24


WHO ARE THE INDEPENDENT INSURANCE AGENTS OF CONNECTICUT? The Independent Insurance Agents of Connecticut was founded in 1899 as the Connecticut Association of Local Fire Insurance Agents. The organization’s name was changed in 1913 to the Connecticut Association of Insurance Agents. This name was considered more representative of the membership due to the expansion of the property-casualty business coverages and the increased presence of casualty and surety agents. In 1975 the organization became The Independent Insurance Agents of Connecticut to emphasize its members abilities to work with a variety of insurance companies and industry representatives. The Independent Insurance Agents of Connecticut has always been in the lead on important issues for agents. The list is long as IIAC has worked with regulators and the insurance industry on important issues such as agent licensing, anti-rebate laws, ownership of expirations, banking and insurance, and agent compensation to name a few. Today IIAC offers a wide variety of products and services to its members. The education calendar offers a full assortment of choices for licensing, continuing education and advanced degree programs. In addition, IIAC offers several insurance programs for our members that can be purchased to protect their agency business and insurance products that members can sell to their customers. IIAC also offers technical and regulatory assistant to our members. Technical advice is available at the staff level and through the Virtual University where you can “Ask The Expert.” In addition, IIAC meets regularly with the Insurance Commissioner and department staff to discuss current market conditions and consumers issues. IIAC is a strong advocate for independent agents at our state capital and in Washington D.C. Whatever the issue may be, IIAC is the voice for independent agents as we represent the interests of our membership. Our national association, IIABA is a predominant lobbying force in Washington and is constantly ranked among the top 10 of all the lobbying groups in the United States. The Big “I” mission succinctly captures our purpose: “to provide independent agents with a sustainable competitive advantage.” To accomplish that, IIAC is the unrelenting advocate on the issues that shape the environment in which our membership conducts business. IIAC is the voice in the halls of Congress, the state capital and in boardrooms across the nation.

INSURPAC InsurPac is the Political Action Committee (PAC) of the Independent Insurance Agents & Brokers of America (IIABA). It represents the unified political voice of IIABA's 23,000 member agencies and 300,000 agents and brokers nationwide. It is the largest property-casualty insurance industry PAC in the country, and is one of the primary reasons the Big "I" is routinely rated among the most successful lobbying groups in Washington, DC. "Lobbying and a well-funded PAC go hand-in-hand," says Charles Symington, IIABA's Senior Vice President of Government Affairs. "InsurPac's voice resonates through the halls of Congress on behalf of the Big "I". Every elected official knows that a contribution from InsurPac is a contribution from 23,000 small business owners." InsurPac raises funds by asking for voluntary personal contributions from independent agents and brokers throughout the country. By pooling money together, InsurPac helps elect candidates and re-elect members of the U.S. Congress who share IIABA's business philosophy. This concept of pooling personal contributions together for the greater good is essential to understanding the importance of PACs. As an individual, you can make the average contribution of $200 to a Congressman, or you can invest that $200 in a PAC, which in turn combines that with 9 other donors and gives the same Congressman $2,000. At the end of the day, PACs are able to speak with a collective voice that is much louder than that of an individual. It is impossible to overvalue the power of a collective voice -- of a collective InsurPac speaking on behalf of the Independent Agency system. Independent Insurance Agents of Connecticut - www.iiact.org - August 2011

Page 25

The Connecticut Independent Agent - August Issue  

August Issue of The Connecticut Independent Agent

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