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T H U R S D A Y , M A R C H 6 , 2 0 0 8
Industry News
LEGISLATIVE CONFERENCE & CONVENTION
Rep. Roskam to Address the Big “I”
Rep. Peter Roskam (R-Ill.) will speak to members of the Big “I” during the Legislative Conference & Convention in April. Roskam will address the Young Agents/InsurPac luncheon on April 2.
The Big “I” Legislative Conference & Convention is the insurance industry’s premier legislative meeting. This year’s event will take place April 2 to 4 at the Marriott Wardman Park Hotel in Washington, D.C.
“As a member of the House Financial Services Committee, Rep. Roskam can address issues important to independent agents,” says Charles Symington, Jr., Big “I” senior vice president for government affairs. “We look forward to hearing his thoughts on insurance regulation, agent licensing and other issues the Big “I” is bringing to the Hill this year.”
Because his district is heavily impacted by the financial services sector, Roskam sought and received an appointment to the House Financial Services Committee and sits on the subcommittees for capital markets, insurance and government-sponsored enterprises; domestic and international monetary policy, trade and technology and oversight and investigations. Prior to coming to Congress, Roskam served in the Illinois House of Representatives from 1993 to 1996. In 2000, he was appointed to the Illinois Senate and served in the leadership as the Republican whip and floor leader.
“As a new member of Congress, Rep. Roskam brings a fresh perspective to the issues,” says Nathan Riedel, Big “I” vice president of political affairs. “We know he will be able to provide great insight on insurance issues as well as how to become active in the political process.”
Each year during the legislative conference, Big “I” agents and brokers hold hundreds of meetings with their elected officials on Capitol Hill to share their perspective on how legislation affects their business. Top issues this year include agent licensing reform, insurance regulatory reform, flood insurance and natural disasters.
Highlights of the Big “I” Legislative Conference & Convention include an in-depth issues briefing session, appearances by numerous high-profile speakers and the industry’s largest and best-attended trade show. This year’s event will also include an election year debate moderated by Big “I” President & CEO Bob Rusbuldt featuring Democratic strategist Paul Begala and Tucker Carlson of MSNBC’s Tucker.
Click here for more information or to register for the Big “I” Legislative Conference & Convention, April 2-4 in Washington, D.C.
LEGISLATIVE CONFERENCE & CONVENTION
Join the Trusted Choice® “Experience”
Are you coming to Washington, D.C. in April for the Big “I” National Legislative Conference & Convention? If you are, make it a point to visit the Trusted Choice® Experience in the convention exhibit hall April 3 and 4. This special area will showcase Trusted Choice® and its company partners. The Trusted Choice® booth is going to be set up as a mock Trusted Choice® agency --- so agents can see in person what it’s like to “live the brand.” Also, there will be 12 booths representing 20 brand program company partners. Company partners exhibiting in the Trusted Choice® Experience include: Allied Insurance, EMC Insurance, Encompass Insurance, Harleysville Insurance, Hartford Steam Boiler, InsurBanc, Liberty Mutual Agency Markets (representing America First Insurance, Colorado Insurance, Golden Eagle Insurance, Indiana Insurance Company, Kemper, Liberty Northwest, Montgomery Insurance, Ohio Casualty and Peerless Insurance), Markel Insurance, MetLife Auto & Home, Safeco Insurance and Selective Insurance. The Experience will be an exciting opportunity for agents and company partners to discuss their shared support for the Trusted Choice® brand movement, explore possible business relationships with these company partners and for agents to learn about the new products offered by these companies. The exhibit will be located in the front of the exhibit hall near the entrance. Convention exhibit hall hours are 6 to 8 p.m., April 3 and 9 a.m. to 4 p.m., April 4. Click here to view the schedule of events for the Big “I” Legislative Conference & Convention. If you haven’t done so already, please complete and submit your registration form for the Big “I” Legislative Conference & Convention as soon as possible. Register online by clicking here. For more information, contact Trusted Choice® Brand Manager Jenner Gohr at 800- 221-7917; jenner.gohr@iiaba.net.
InVEST
InVEST Giving Out Scholarships, Awards this Spring
Based on the anticipated success of the InVEST silent & live auctions during the Big “I” Legislative Conference & Convention, InVEST hopes to award $50,000 in scholarships this spring to high school and college students who are currently taking an InVEST class and plan to pursue a major in insurance, risk management, actuarial science or business.
This year, for the first time, scholarships will also be awarded to students who have chosen to go directly from the classroom into a career in the insurance industry. InVEST chose to do this based on the feedback from several teachers who indicated that for some students, college may not be an option. These students are hard working individuals who plan to enter the insurance industry and would benefit greatly from financial assistance for insurance courses. InVEST will be adopting a scholarship distribution model similar to that of 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 them with licensing, IIA courses, CIC or ACSR. Students must still complete the application process and be a student in an InVEST class to be eligible. As is the case with all our scholarships, InVEST will distribute dollars directly to the educational institution or administrator.
Agents involved in the program are encouraged to rally their 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.
Two other InVEST awards also will be presented this spring: The InVEST Teacher-of-the-Year award, which recognizes an InVEST teacher who has made significant contributions to his or her InVEST students, and the Dach Award, bestowed upon an InVEST industry liaison(s) dedicated to their InVEST students. Submissions for Dach and Teacher of the Year awards are due March 14. Click here for more information.
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.
BIG “I” MARKETSSM
Media Liability Coverage from the Big “I” and Chubb
Media liability insurance protects insureds against claims arising out of the gathering and communication of information. Media liability insurance provides valuable coverage against defamation and invasion of privacy claims as well as copyright and/or trademark infringement. It can be categorized as errors and omissions in the written or spoken word resulting in claims alleging financial loss as a consequence.
Now agents can add a layer of umbrella protection to any of their media insureds. In partnership with Chubb, agents can access Big “I” Markets to write commercial media umbrellas.
Target Market & Eligibility
Chubb is currently servicing the media risks market, including advertising, broadcasting and publishing, via Big “I” Markets.
Underlying requirements include: general liability limits of at least $1 million/$2 million /$1 million/$1 million; employers liability limits of at least $500,000/$500,000/$500,000; automobile liability limits of at least $1 million CSL; and underlying carrier financial rating of at least A-6 (A.M. Best) & BBB (Standard & Poor’s).
Coverage Highlights & Availability
The Chubb Umbrella policy is one of only a few companies featuring two separate insuring agreements: Coverage A - Excess Follow Form and Coverage B - Umbrella Liability.
Coverage A - Excess Follow Form Insurance offers benefits including: reduction of potential gaps in insurance protection by adopting the provisions of a company’s scheduled primary policies; vertical continuity with primary coverages; loss payments made on behalf of the insured; and duty to defend suits on behalf of the insured after underlying limits are eroded.
Coverage B - Umbrella Liability Insurance offers benefits including: broadened protection to help close or eliminate gaps in a company’s primary insurance program; protection when no underlying insurance applies; loss payments made on behalf of the insured; no self insured retention; and definition of personal injury including discrimination, harassment and segregation (where permitted by law).
VIRTUAL UNIVERSITY
The VU Makes Technology Work
There’s no doubt about it, technology has made business move faster and more efficiently. But when there’s a problem or question related to that technology, it often seems like everything comes to a grinding halt. Call a consultant for help with the issue, and it’s like watching dollars drain from your account.
The Big “I” Virtual University (VU) is here to help. Whether you’re a dedicated IT professional or just an agency staffer in need of good information, the VU puts a wealth of technology knowledge at your fingertips. And it’s absolutely free to Big “I” members.
The Research Library offers a technology section featuring information organized around three main topics: agency management systems, general automation issues and the Internet. The technology section offers a wealth of targeted, industry-specific information on everything from recommended Web sites to advice on how to use technology to improve agency workflow. You’ll also find comparisons of available agency management systems, with tips on how to choose and get the most out of each.
Dozens of articles are already up and more are being added all the time. If your specific issue isn’t represented, don’t worry. The “Ask an Expert” service is standing by to offer members specific answers to questions that can’t be resolved elsewhere.
Technology shouldn’t get in the way of doing business and with help from the VU, it never will. Visit www.iiaba.net/VU today.
BEST PRACTICES
Get the Guide
"Top Producers: Discover, Train, Reward” is the most comprehensive guide to finding, hiring, training and compensating producers that IIABA has ever created. The 160+ page guide contains a wealth of comprehensive, clear advice that provides agency principals with a roadmap to success. The text is organized into three major sections: selection, development and motivation. Each step of the process is included in these sections from the initial planning steps to keeping an experienced and successful producer motivated. Also included are numerous worksheets, formulas and charts for setting goals, establishing proper compensation, determining sales potential, planning an agency and tracking producer activities. And as an added bonus, the manual includes the complete text of the “Guide to Producer Contracts,” which usually costs $29.95 if purchased separately. To download an order form or learn more about other Best Practices resources, click here or send an email BestPractices@iiaba.net.
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