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T H U R S D A Y , F E B R U A R Y 7 , 2 0 0 8
Industry News
TRUSTED CHOICE®
Frontline Insurance Joins Trusted Choice®
Frontline Insurance Managers, based in Lake Mary, Fla., is the newest independent agency system insurance company to join the Trusted Choice® brand movement.
Trusted Choice® was launched in 2001 by IIABA and several independent agency companies to highlight the benefits independent agencies and brokerage firms offer consumers --- choice of companies, customization of policies and advocacy support.
“Our partnership with Trusted Choice® is the culmination of 10 years of hard work,” says Leman Porter, president of Frontline Insurance Managers. “Our commitment to providing higher standards of service and value makes Trusted Choice® a natural match.”
Frontline Insurance Managers encompasses First Protective Insurance Company and Fidelity Fire & Casualty Company. First Protective Insurance, founded in 1998, and Fidelity Fire & Casualty, founded in 2005, were started to meet the growing insurance demands of Florida homeowners. Their shared mission is to provide Floridians with affordable homeowners coverage and superior customer service.
First Protective Insurance offers insurance for all types of homes, focusing on coastal properties, which are often subject to volatile market conditions. More information can be found on the companies’ Web sites at www.fpic.net and www.fidelityfc.net.
“We have built a solid reputation by providing Florida homeowners with a stable and affordable insurance market,” says Tom Poppell, vice president of sales for Frontline Insurance. “We look forward to building on that reputation with our membership in Trusted Choice®. We will be proud for all three of our entities to display the logo of Trusted Choice® membership.”
“Everyone is well aware of the unique challenges in Florida’s insurance markets and we are pleased to have Frontline Insurance Managers through Fidelity Fire & Casualty Company and First Protective Insurance Company join Trusted Choice® to serve independent insurance agents and their customers in Florida,” says Dave Evans, executive director of Trusted Choice®. “We look forward to aiding their expansion into other states.”
“We are proud of Frontline Insurance Managers for being the first Florida domestic insurance carrier to earn membership in Trusted Choice®,” says Jeff Grady, president and CEO of the Florida Association of Insurance Agents.
InVEST
InVEST Scholarship Opportunities Expanded
Each year, InVEST awards scholarships to students participating in a high school or community college InVEST class who are pursuing higher education with an emphasis on insurance, risk management, actuarial science or business.
To expand this opportunity and the reach of InVEST, scholarships will also be awarded to students who have chosen to go directly from the classroom to a career. InVEST teachers feel that when college does not seem like the apporpriate option, some students who hope to enter the insurance industry would benefit greatly from financial assistance for insurance courses. At the request of these teachers, InVEST has moved toward a scholarship distribution model similar to the Florida Association of Insurance Agents (FAIA). This means students not transitioning to a two or four-year college are eligible for scholarships that would assist with licensing, IIA courses, CIC or ACSR. The InVEST Board of Directors unanimously approved this change to the scholarship program. InVEST will distribute dollars directly to the educational institution or administrator.
We encourage agents involved in the program to rally students to compete for a national InVEST scholarship. Click here to learn more about eligibility and requirements. Applications and essay entries must be received by April 18.
For more information on InVEST, visit www.independentagent.com and click “InVEST” or contact Amber Williamson at 703-706-5425; amber.williamson@iiaba.net.
A 501(c)3 educational trust, InVEST introduces high school and community college students to insurance and the more than 350 diverse careers available within the industry giving students a new outlook on the future. The program offers insurance agencies, brokers and carriers a diverse and talented group of entry-level recruits.
LEGISLATIVE CONFERENCE & CONVENTION
iPhones Winners Announced
Congratulations to James Anton (Anton Insurance Agency, LLC), Carol Bean (TWIW Insurance Services, LLC) and Johnny Thompson (Commercial Insurance Associates, Inc.). These early bird registrants were drawn from the Legislative Conference & Convention registration system on Feb. 1 and each won an iphone. Have you registered yet? Don’t miss out on the industry’s premier event--register today!
LEGISLATIVE CONFERENCE & CONVENTION
Register Now and Save!
The Big “I” Legislative Conference & Convention will be April 2-4 in Washington, D.C. The annual event offers agents an opportunity to experience advocacy, innovation and exhibits not available anywhere else. CNN political analyst Paul Begala and the host of MSNBC’s Tucker, Tucker Carlson, will address attendees at the general session on April 4 at 4:30 p.m. All attendees who register through Feb. 14 will receive over a 20% discount (exclusive of company representatives). Click here to find details about the event or to register online.
YOUNG AGENTS
Young Agents Committee Announces Presidents’ Panel
The National Young Agents Committee is offering events geared specifically for up-and-coming leaders at the Big “I” Legislative Conference & Convention. Special sessions include a first-timers reception, the Young Agent attendee and InsurPac chairs luncheon, a hospitality event, exclusive “pre-opening” tour of the Newseum and the always-popular Presidents’ Panel breakfast with Big “I” leadership. Joining Big “I” Chairman Robert Fulwider on the Presidents’ Panel will be: John Barbagallo, president, commercial lines group, Progressive; Michael Brown, president and CEO, Harleysville Insurance; Neal Wolin, president and COO, Property and Casualty Operations, The Hartford and Cynthia Young, president, Encompass Insurance.
Young Agents will gain valuable legislative and leadership skills at this premier insurance industry event. The Big “I” Legislative Conference & Convention will be held at the Marriott Wardman Park Hotel in Washington D.C. April 2-4, 2008.
For more information, contact Katie Cosgrove, Young Agents program manager, at 800-221-7917; Katie.Cosgrove@iiaba.net.
IIABA NEWS
Big “I” Spouses Roll-Up Their Sleeves
During the Big “I” Board of Directors meeting last month in Freeport, Grand Bahamas, board members’ spouses participated in three different volunteer activities to support the local community. The activities included:
• Providing assistance and spending valuable time with learning disabled children at the Beacon School;
• Walking, feeding and caring for pets at the Grand Bahamas Humane Society facility;
• Providing more than 400 books for a brand new elementary school library, Bartlett Hill Elementary, collected and donated from other spouses around the U.S.
The volunteer efforts of the board spouses were very much appreciated by the local community in the Freeport area and particularly by the children, teachers and parents of the Bartlett Hill Primary School. The day of the book presentation, the school was also celebrating a first-place win at a local contest, the Division B Junior Junkanoo. For the kids at the Bartlett Primary School, winning the contest was like winning a state championship game and the Big “I” spouses found themselves marching in a parade with the students in honor of their accomplishment.
BIG “I” MARKETSSM
Contractor Liability Market Now Available
Contractor liability has been near the top of the list of the Big “I” Markets product development surveys for the last two years. For 18 months, Big “I” Markets has been piloting a program with a provider who has the capacity to handle both admitted and non-admitted contractor liability risks. Due to the complexities of contractor’s liability, it was critical to make sure the provider could effectively manage all aspects of the non-admitted/E&S segments of the market. The provider was successful in doing so and Big “I” Markets is happy to announce the contractor liability product is now available almost nationwide. To learn more about this market, log into www.bigimarkets.com and click on “Contractor Liability.” Not registered for Big "I" Markets? The online market access program, available exclusively to Big “I” members, features no fees, no volume commitments and competitive commissions. Register online at www.bigimarkets.com. For more information about Big “I” Markets, send an email to bigimarkets@iiaba.net.
BIG “I” MARKETSSM
Community Banks Market Available
According to the FDIC, the total number of community banks is estimated at 9,000, and 44% have assets of less than $100 million. Community banks’ board of directors are made up of local citizens who want to advance the interests of the towns and cities where they live. All of this spells opportunity for agents. Big “I” Markets provides access to the Travelers SelectOne product designed specifically for community banks. Not only is the product the best in the business, a Travelers underwriter is ready to assist in every aspect of the sale --- including the sales presentation to the bank board if necessary. Learn more about the community banks product at www.bigimarkets.com.
BEST PRACTICES
Before Hiring a Producer, Read This
Do your producer contracts reflect the difference between independent contractor and employee producers? Are you certain that your non-compete and non-piracy agreements will stand up in court? Can you be sure that you are developing compensation packages that are fair to you and to your producers? If these issues concern you, then the Best Practices Guide to Producer Contracts is a must for your agency. This concise guide leads you through the steps of compensating and contracting new producers. The Guide to Producer Contracts will save principals thousands of dollars in lost time, effort, cash and potential legal fees, and is priced at only $29.95. The guide contains sample contracts, making it a perfect reference for principals, agents, their attorneys and advisors. Don’t hire another producer without one. For the full story on hiring, training and compensating producers, check out the Best Practices guide, Top Producers: Discover, Train, Reward, which includes the Guide to Producer Contracts free. To obtain an order form and view other recent releases, such as Best Practices of Crisis Management or the 2007 Best Practices Study, click here or email BestPractices@iiaba.net.
VIRTUAL UNIVERSITY
Big “I” Virtual University Helps Adult Learners
As an adult learner, what provides the motivation to learn more and enjoy the process? Recent research from a variety of education groups suggest adult learners can’t be threatened, coerced or tricked into learning something new. The traditional flogging or gold stars have little power to persuade. While just about any adult can be ordered to attend a class and take a seat, they cannot be forced to learn. However, it does seem most adults can be motivated to learn something new and many do seek out that opportunity at least twice a year.
So, what are some of the things that act as learning motivators for a majority of adults?
1. Often, many adults look for learning experiences in order to better deal with life-change events. Marriage, divorce, a new job and moving to a new city are examples. The more life-change events an adult encounters, the more likely he or she seeks ways to learn. Just as stress increases as life-changing events accumulate, so does the motivation to cope with change through engagement in a learning experience. Since people who most frequently seek out learning opportunities are those who have the most years of education, it is reasonable to guess that for many learning is a coping response to significant change.
2. As many adults encounter work-related changes that impact their lives, research finds the learning adults seek out is directly related --- at least in their own perceptions --- to what created the change. Therefore, if 80% of the event encountered is work-related, then 80% of the learning experience will be work-related.
3. Adults typically engage in these new learning experiences before, after and even during the actual life-change event. Once convinced that the change is certain, adults are more likely to engage in any learning that promises to provide them with the ability to better cope with the impending change.
4. While many adults are likely to engage in learning for wide array of reasons such as job advancement, simple pleasure, love of learning and so on --- it is equally true that the actual learning is not the real reward. Adults who are motivated to seek out a learning experience do so primarily (80% to 90% of the time) because they have a use for the knowledge or skill being sought. Learning is a means to an end, not an end in itself.
Whether the motivation to learn comes from pleasure, need or a life-changing event, the Big “I” Virtual University can help you achieve your learning goals. If you are motivated to seek a more creative and fun way to get the insurance education you need, the Big “I” Virtual University offers a wide variety of unique, quality online classes to enhance and expand insurance technical and business skills. The classes, which can be purchased by members and non-members, include certification and designation programs, as well as beginner, intermediate and advanced classes --- all online and available anytime. To access the Big “I” Virtual University visit www.indpendentagent.com or to go directly to the online course catalog by clicking here.
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