..:: Insurance News & Views ::..

The Big "I" Office of the General Counsel completed its review of the Balboa Insurance Group Agency Agreement, the Balboa Insurance Group Consent to Release Personal and Business Information, the Balboa Insurance Group Network Compensation Program Addendum and the Balboa Insurance Group Annual Marketing Plan. With regard to the agency agreement, some provisions of concern for agents include: 1) the agent’s authority can be suspended at any time on written notice, and 2) the ownership of expirations clause is only triggered at termination and does not restrict the company’s use of the information. To access the complete review, Big "I" members can click here. For more information, contact Kathleen Graber at 703-706-5432; kathleen.graber@iiaba.net

The Big "I" Office of the General Counsel has posted an FAQ on agent and broker compliance with respect to the United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (PATRIOT Act) Anti-Money Laundering requirements and the requirements imposed by the Office of Foreign Asset Control (OFAC). A final rule on PATRIOT Act compliance in the insurance industry, promulgated by the U.S. Department of the Treasury, went into effect May 2, 2006. The rule exempts agents and brokers (except licensed securities broker-dealers) from instituting their own anti-money laundering compliance programs under the PATRIOT Act, but insurance carriers may enlist agents and brokers into the carriers’ programs. Agents and brokers may also be required to comply with state laws and regulations concerning anti-money laundering.

OFAC requires everyone in the United States to refrain from transacting business with certain specially designated nationals and blocked persons (SDN) or with countries with U.S.-imposed sanctions. Agents and brokers are required to comply with OFAC regulations. Violations of OFAC can result in serious penalties, so agents and brokers want to ensure that they are in compliance. To access the complete review, Big "I" members can click here. For more information, contact Kathleen Graber at 703-706-5432; kathleen.graber@iiaba.net.

A flurry of nationwide Trusted Choice® advertising kicks off June 19. Trusted Choice® is advertising on nationwide TV networks and on popular consumer Web sites. Trusted Choice® will advertise on FoxNews, CNN, CNN Headline News and The Weather Channel. More than 200 spots will air coast to coast from June 19 through Aug. 27. Click here to view the network ad schedules. A complementary Internet ad campaign will appear on www.AOL.com, www.MSN.com and www.Yahoo.com July 17 through Aug. 31. The sites will feature Trusted Choice® banner ads in high-traffic areas, including the e-mail, home, real estate, career and finance pages. This extensive national advertising campaign is a great opportunity for your Trusted Choice® agency to increase local consumer awareness of your business. Run tie-in ads in your community to help establish yourself as the consumer’s smart choice for insurance and financial services. Whether you run print, radio, TV or billboard ads, your agency will get significantly more exposure because many consumers will think all the national ads are about their local Trusted Choice® agency. It is easy for your agency to advertise---there are several customizable ads that you can add your agency name and contact info and run in your local market. Click here to review guides on buying print and broadcast media and view customizable ads. Not yet part of Trusted Choice®? Click hereto join the consumer brand movement that is sweeping the agency ranks. For more information, contact Jeff Myers at jeff.myers@iiaba.netor Jenner Gohr or 800-221-7917; jenner.gohr@iiaba.net.

V I R T U A L U N I V E R S I T Y
Free Access to What Matters Most in Your Agency

Each day, we face challenges that will affect the long-term success of the independent agency system. The Big "I’ Virtual University regularly provides articles and white papers on many of the critical issues affecting today’s insurance marketplace. The VU’s opinion papers and commentary help independent agency professionals become better informed and more knowledgeable on the trends and topics affecting their future. Your membership entitles you to access these resources, the "Ask An Expert" service, an award-winning newsletter and discount pricing on online classes. Click here to obtain your login ID and password. Take advantage of this invaluable resource today to keep your competitive edge!

B I G " I " M A R K E T S^sm
Commercial Package Now Available

Big "I" Markets recently added a new commercial package market. Big "I" Markets agents now have access to 150 classes of commercial package business on A rated paper on both an admitted and non-admitted basis. Listed below are 16 broad categories of business included in the commercial package program. Click on any of the categories to see what kinds of classes of business are eligible to quote within each category.

Business & Personal Services

Construction Classes

Cultural Organizations

Educational Services

Finance & Insurance

Food Processors

Institutional Insurance Programs

Media & Advertising

Metal Manufacturers

Office Insurance Programs

Plastics Manufacturers

Printing & Publishing

Professional Services

Retailers

Technology Firms

Wholesalers

Click here to access this product. Not yet registered for Big "I" Markets, the online market access program with no fees and no volume commitments available exclusively to Big "I" members? Click here to complete a simple online registration process today.

Access Commercial Flood Insurance

Through the Big "I" Flood program, you can write commercial accounts with up to $500,000 limits for property and contents. Coverage is on an actual-cash-value basis and is written with Selective Insurance Company, the same Write Your Own flood insurance carrier we use for personal flood insurance. With hurricane season now upon us and record rainfall continuing to plague many parts of the country, take advantage of the commercial flood program to make sure all your commercial clients have adequate coverage. Now, when you are quoting all the new commercial classes available on Big "I" Markets, you can wrap a flood quote around the commercial package quote as a way to differentiate yourself from the competition. Click here to register for the flood program.

Need a Commercial Umbrella?

In Big "I" Markets’ last market access needs survey, commercial umbrella was the 12th most requested market out of 134 markets surveyed. We are in conversations with a major carrier to make this market available, but we would like to better understand the precise nature of the need you have for this market. Please take a moment to complete a quick survey that deals exclusively with commercial umbrella. Click here to take the survey and help us bring you the commercial umbrella you need.

B E S T P R A C T I C E S
Best Practices and Leadership: A Combination for Success

Best Practices agencies, and agencies striving to be the best, attribute their success to a number of things, but it ultimately comes down to leadership. Leaders of Best Practices agencies believe their most important job is to provide a clear picture and vision of where the agency needs to be in the future and to keep everyone focused on that vision. This is not an easy task, but focusing on the "strategic" rather than the "here and now" helps successful leaders. These leaders are disciplined—they spend time to determine what their agency does well, how to build on those strengths and what they need to do to improve. In reality, these owner/principals must lead as well as manage, and finding time to focus on the strategic is hard. In smaller agencies where the leader wears many hats, that time might be found at night, during the weekends or simply as a few minutes added to the day’s priority list. The point is they make the time. Good leaders of both large and small agencies know that giving up some control through effective delegation, off-loading a portion of their book of business to other producers or even sharing ownership can keep them from being overwhelmed with the administrative aspects of achieving the agency’s goals. This allows them the time to focus on the strategic. As one leader said, "Management is reactive. Leadership is proactive." Being strategic requires leadership. Click here to learn more about the leadership tools available to your agency.

B I G “ I ” C A R E E R C E N T E R
Job Postings Climbing in Time to Nab College Grads

The job postings on the Big "I" Career Center are climbing each month, with close to 600 resumes nationwide for employers to search right now. With recent high school and college grads entering the job market, now is the time to take advantage of this great resource! Take advantage of this great resource if you are looking for agency staff—or a new position. Visit www.insurancecareerfinder.com. For more information, contact Brett Sutch at 800-221-7917; brett.sutch@iiaba.net.