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T H U R S D A Y , M A Y 7 , 2 0 0 9 Industry News
Legislative Conference & Convention
Thank You Company Sponsors
The Big “I” would like to thank the company sponsors who made the 2009 Big “I” Legislative Conference & Convention a success. Their support is an integral part of the events and work the Big “I” does on behalf of independent agents across the country.
2009 Big “I” Legislative Conference & Convention Sponsors: Gold
Allstate Insurance
American Express
Chubb Group of Insurance Companies
Encompass Insurance
The Hanover Insurance Group
Harleysville Insurance
The Hartford
Jackson National Life Insurance
Liberty Mutual Agency Markets
Property Casualty Insurers Association of America (PCI)
Selective Insurance Group
Travelers
Trusted Choice® Silver
AAMGA
American Insurance Association
Applied Underwriters
Coventry
Foremost Insurance Group
NAMIC
NAPSLO
Progressive
Swiss Re
Zurich North America Bronze
Central Insurance Companies
Fireman’s Fund
InsuranceLeads.com
ISO, Inc.
Kaplan Financial Education
The Main Street America Group
The Mines Press
Rain & Hail
RCIS
RLI
Virtual University
New Webinar Series Designed to Help Producers Succeed
Your customers are struggling in these interesting economic times and there is a lot of competition for their time, attention and money. You are no longer competing only with other insurance agents; you must also compete with many other needs that your clients have to fill in their lives. As times have changed, so must your sales strategies. Finding customers isn’t what it used to be. However, agents shouldn't be tempted to give up the classic methods that will always work; human nature never really changes, and selling is still a face-to-face business. For virtually any business, the ability to sell is paramount to success. The insurance sales industry is no different; the ability to prospect, overcome objections and close the business are of the upmost importance. How do you know which sales tools to use and when? The Big “I” is offering an insurance sales model webinar series to provide information on the latest technologies and techniques. The class, entitled “Prospecting in the New Century,” covers the latest ideas to try and the “old school” ideas to keep. In another session, “How Objections Help You Close the Deal,” you'll learn why you should love objections. Find out what type of comments are red flags and which ones are just questions disguised as objections. Finally, the “Closing Toolkit” provides a takeaway tool you can use for the rest of your career.
To register today for this exciting series that begins on May 13, click here. The series features highlights from the highly successful Elite Force Sales Training classes.
IIABA News
Big “I” Honors Two Companies with Best Practices Awards
Insurance carriers Central Insurance Companies and Travelers recently received the prestigious “Best Practices Award of Excellence” at the 2009 Big “I” Legislative Conference & Convention. The awards were presented during the Young Agents Breakfast and Leadership Panel on May 1. The awards recognize companies that have made imaginative, outstanding and unique contributions in advocating Best Practices philosophies that enhance the independent agency system. The Big “I” Best Practices program provides performance benchmarks and business strategies that serve as a guide to improving agency performance. Central Insurance Companies’ support of the Best Practices program came as agents requested help from their company partner to grow their personal lines books of business. The company developed and implemented a plan by utilizing the Best Practices studies and consultations with Reagan Consulting. The feedback was positive and the results have been a success. Central Insurance communicates the value of the resources through agent education and business consulting, their Web site and monthly agency newsletters. “Central Insurance Companies promotes the philosophies of the Best Practices through materials in agent education and business consulting,” says Madelyn Flannagan, Big “I” vice president of education and research. “It is evident that Central’s leadership strongly believes the program builds better and stronger independent agents.” Since Best Practices was launched in 2001, Travelers has been recognized each year and has demonstrated that their company support of the program does not wane. Travelers is committed to making a difference by communicating the value of the resources and working with agents to help them grow their agencies. Working with thousands of agencies, presenting keynote sessions that incorporate Best Practices topics and resources and dedicating a monthly article in their newsletter are just some of the many ways Travelers is working to help educate agents on the value of the Best Practices program. Travelers also provides materials for select agencies and dedicates staff time and resources through participation on the Big “I” Council for Best Practices. “As an eight-time winner of the Best Practices Award, Travelers is to be commended for its continued support,” says Flannagan. “Through numerous efforts, Travelers continues to demonstrate their commitment to Best Practices and to making a difference by communicating the value of the resources and working directly with agents to help them reach their goals.”
Big “I” Flood Program
Patterson Awarded NFIP’s Inaugural Floodsmart Award
Micheline Patterson accepts the FloodSmart Award from Edward Connor, acting federal insurance administrator of the NFIP. Micheline Patterson of Ken Murray Insurance in Fairbanks, Alaska, was named the first FloodSmart Award winner at the National Flood Conference April 20-22 in Boston. Patterson was acknowledged for her dedication to not only selling flood insurance, but using innovative marketing techniques to help her community to be more flood aware and flood safe. “Everything Micheline does to promote flood insurance is done not only to increase her agency’s business, but also with the clear goal of educating as many people as she can about the dangers of flooding and the benefits of flood insurance,” said Edward Connor, acting federal insurance administrator of FEMA’s National Flood Insurance Program. “It is that dedication that brought her to our attention and convinced us that she was the right person to receive the inaugural FloodSmart Award.” This is the first year that the National Flood Insurance Program (NFIP) recognized an outstanding insurance agent who creates innovative and effective marketing strategies in local communities to raise awareness of the local flood risk and the need for flood insurance. Agents have a number of tools and resources available to them through Agents.FloodSmart.gov, the NFIP secure Web site for insurance agents. Patterson took advantage of all the lead generation and advertising tools available to create a comprehensive outreach plan in her city. She also made use of opportunities unique to Fairbanks to raise awareness including participating in the Red Green River Regatta to promote flood awareness. Click here to read a recent Two for Tuesday story on Patterson. “When people think of areas at risk for flooding, Fairbanks, Alaska is typically not at the top of the list. However, I know that the residents in my town need to know about flood risk and flood insurance. I see it as my job as an insurance agent to ensure that my neighbors know what their flood risks are and how they can protect themselves,” said Patterson. “The resources available through the NFIP and Agents.FloodSmart.gov can make it easy for agents to build a winning outreach plan.” The Ken Murray Agency is a participating agency in the Big “I” Flood Program with company partners Selective Insurance and Wells Fargo Special Risks. Big “I” Markets provides access to all flood program products. For more information on the Big “I” Flood Program, contact Linda Mackey at 800-221-7917, Ext. 5380; linda.mackey@iiaba.net.
Big “I” Markets
BIM Agents Earn Grants from FFIC
People’s Underwriters, Inc. in Conway, S.C., a Big “I” Markets participating agency, recently earned a $5,000 grant for the local fire department which was used to purchase high-visibility safety vests for the firefighters.
“This grant could not have come at a better time,” says Conway Fire Chief Rick Baker. “The safety of our firefighters is paramount and these vests will make them more visible on highways, allowing them to do their jobs more effectively and efficiently when responding to vehicular accidents.”
How was the agency able to secure the grant? They earned it by being one of the top three premium-writing agencies placing affluent business with Fireman’s Fund on Big “I” Markets.
Fireman’s Fund was founded in 1863 with a corporate mission to support the fire service. In 2004 it renewed that commitment with the launch of the Heritage Program. Through this initiative, independent agencies offering Fireman’s Fund products are able to direct grants and provide volunteer support to local fire departments, national firefighter organizations and non-profit fire and burn prevention organizations. Since 2004, Fireman’s Fund has awarded more than $20 million in grants to more than 1,000 fire service organizations.
Every time you bind a Fireman’s Fund policy on Big “I” Markets, BIM is awarded points. Those points are converted to grant dollars that Fireman’s Fund will use to purchase equipment for fire service organizations. This spring was the first time BIM has been able to use those points and the $15,000 in grant money earned was distributed equally among the three agencies that have written the most Fireman’s Fund premium on Big “I” Markets. In addition to People’s Underwriters, grants were given to the Tom Shepherd Insurance Agency in Covington, La. and to T.J. Associates in Broomhall, Pa.
In Broomhall, the grant money was used to purchase remote scenic lighting to illuminate emergency scenes at night, a rescue dummy to help firefighters practice rescuing victims from burning buildings and various tools to help prevent hazardous spills from entering public water systems. The Covington grant was used to buy a new air bottle fill station that keeps fresh air flowing into firefighters’ masks.
Once grant recipients have been established, Fireman’s Fund works with each agency to coordinate a multi-faceted public relations campaign to alert the local community that the grant is being made on behalf of the agency. The combination of the purchase of much-needed firefighting equipment for local fire departments, free publicity to the agency and the commission earned by the agency for placing business with the Fireman’s Fund make the Heritage program beneficial for everyone. Access the Fireman’s Fund affluent program at www.bigimarkets.com.
Big “I” Professional Liability
Free Risk Management Webinar: Avoiding E&O Pitfalls in E&S Business
Swiss Re Academy and the Big “I” Professional Liability Program will present a free risk management webinar for Swiss Re agency errors & omissions policyholders on May 15 from 2-3 p.m. EST. The webinar is appropriate for all agency staff and covers the E&O issues of placing insurance in the excess & surplus lines market and working with E&S brokers. This is the first webinar in a series addressing knowledge of E&O risk management that will be held throughout 2009.
The highly knowledgeable panel will include: an experienced E&S broker, a respected Big “I” state executive director with years of E&S experience, an attorney who has handled numerous cases involving independent agents and their E&S placements, a Swiss Re underwriter who works with E&S placements and a Swiss Re claims attorney who works with Swiss Re E&O insured agents.
Attendees will learn more about where E&O claims occur with the placement of E&S risks; when and why to use the E&S market; laws affecting E&S markets, such as cancellation requirements, coverage changes and guaranty fund protection; how to select an E&S broker; and the duties of the producing agent or broker and more. Click here to register. Swiss Re policyholders can also find more valuable agency E&O risk management information by visiting www.independentagent.com/EOhappens.
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