T H U R S D A Y ,   J U N E   1 9 ,   2 0 0 8

Industry News

BEST PRACTICES
Finding, Hiring the Right Producers

Top Producers: Discover, Train, Reward is a comprehensive Best Practices guide to finding, hiring, training and compensating producers. This 160-page manual contains clear advice for agency principals on how to save thousands of dollars in lost time, effort, cash and wasted potential. The three sections of the guide – selection, development and motivation – lay out a complete roadmap to success, from finding a top producer and creating a career training path, to effectively managing and motivating the experienced producer. The guide also contains numerous worksheets for setting goals, establishing proper compensation, determining sales potential, agency planning and tracking producer activities. As an added bonus, the guide includes the Best Practices Guide to Producer Contracts. To download an order form, click here or email BestPractices@iiaba.net.


BIG “I” MARKETS
EPLI Market Available

Big “I” Markets agents can write employment practices liability for any size company operating in any industry. Big “I” Markets is very effective for companies with 1-100 employees, but can also entertain large companies with more than 1,000 employees. Agents can submit everything from run-of-the-mill manufacturers, contractors, retail stores, lawyers, insurance agents, accountants and consultants to accounts with claim activity. The USLI product is available in all states except: Delaware, Montana, Nebraska, New Mexico, North Dakota, Utah, West Virginia and Wyoming. Agents can also write stand alone EPLI coverage on BIM through Travelers by accessing the Wrap+ professional liability product for privately held companies.

Target Market & Eligibility
While there is no maximum Coverage A limit, there is a minimum limit that varies by state and exposure. Click here to open a chart for minimum guidelines and definitions. Non-CAT area risks falling no more than $50,000 under the minimum Coverage A will be considered if pictures accompany submission.

Ineligible risks include knob and tube wiring, homes in poor condition/poor maintenance and mobile homes. Three or more family dwellings and risks with an open claim may be considered on a case-by-case basis. Submit a quote request with a complete detailed explanation for consideration.

Coverage Highlights & Availability
* Industry-accepted ISO HO3 policy forms modified to tailor coverage for unique exposures.

* Many standard ISO endorsements and customized LexElite endorsements available including personal injury; all risk contents, golf cart liability and  personal article floaters.

* Wind mitigation credits for hip roof, roof straps, shutters and wind protective glass.

* Flexible all other peril and wind deductibles.

* Wind exclusion credits available.

* Minimum premium is $1,000.

* A 25% minimum earned premium applies.

Coverage availability - The coastal homeowner product is available to members in all states, with the exception of North Carolina, New Mexico, Washington and West Virginia.

Members in North Carolina, New Mexico and Washington can have access to this program if they are licensed in excess and surplus lines and provide a written statement, along with a copy of the license, agreeing to file taxes according to their DOI regulations. This information can be emailed to bigimarkets@iiaba.net or faxed to 703-995-4406, attn: Big “I” Markets. 

To learn more or register for Big “I” Markets, visit www.bigimarkets.com.


YOUNG AGENTS
YAC Awards Deadline Fast Approaching

Attention all Young Agents – the YAC awards submission deadline is July 1. Have you submitted your award yet? The Big “I” National Young Agents Committee (YAC) is seeking submissions for the 2008 YAC awards in the following categories: membership development, state committee project, communications, Young Agents meeting and political involvement. Outstanding Young Agents Committee-of-the-Year and first runner-up honors will also be awarded. Participating in the National YAC awards program demonstrates the commitment state Young Agents committees have to perpetuating the independent agency system and solidifies. The 2008 YAC awards will be presented at the Young Agents Leadership Institute, Sept. 12-13 at Caesars Palace in Las Vegas.

YAC award winners will also be featured during the Magnificent Seven during the Young Agents Leadership Institute. This unique event is an interactive panel discussion where attendees will learn from Young Agents offering insight into how they achieved award winning results.

Entries must be postmarked by July 1. Visit www.independentagent.com and click on Young Agents under the Member Resources tab and then click on Tools to download the 2008 YAC Awards Criteria. Please direct questions to Katie Cosgrove, manager of the Big “I” National Young Agents Program, at 800-221-7917; Katie.Cosgrove@iiaba.net.



InVEST
Register Today For the InVEST State Champions Workshop

There are only two weeks left before InVEST’s Workshop II at Westfield, but there is still time to register. To sign up for this three-day, comprehensive workshop click here. The workshop will take place June 30 to July 2 at the Westfield Companies. Join other insurance industry leaders in learning about InVEST and how the program promotes insurance industry workforce development by attracting and training the next generation of insurance professionals.

Rather than simply replicating last year’s program, InVEST is building on its previous success with a new program that will address the importance of exposing young people to the insurance world through internships, field trips and job shadowing. The workshop will provide updates on the critical numbers in the war for talent, and the new tools InVEST has created in the past year. The workshop will also feature a panel comprised of educators, and a segment on the new millennial generation and how to go about attracting them to our industry. The workshop will explore all the InVEST tools, resources and programs at the high school and community college levels. 

A great group of people are scheduled to attend this year’s event, including independent agents, company representatives, educators and state and national trade association representatives, as well as others involved with the insurance industry.

For more information about the InVEST State Champions Event, contact Bill Pierson, InVEST executive director, at 800-221-7917; bill.pierson@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.


TRUSTED CHOICE^®
Trusted Choice^® Agency of the Month

Is your agency truly committed to Living the Brand? If so, don’t forget to nominate your agency for the Trusted Choice^® Agency of the Month Recognition Program. One of the monthly winners will then be chosen as the Trusted Choice^® Agency of the Year! Click here for the guidelines and nomination form. For more information, contact Joanne Buckley at 800- 221-7917; joanne.buckley@iiaba.net.