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Tales from ESOP Fables
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Fertile Ground for M&As
The landscape for agency M&As isn't showing signs of slowing.
 
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Disability insurance could be the answer to your agency's pressing revenue concerns.
 
A Brand New Day
To overcome a "limiting" image, this agency focuses on zero-based branding.

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Industry News

TRUSTED CHOICE®

2007 Junior Classic in Full Swing

 

The 2007 Trusted Choice® Big “I” Junior Classic golf tournament began at the Crane Creek Country Club in Boise, Idaho, earlier this week and runs through the end of today. More than 8,000 boys and girls competed nationally to earn a spot in the finals, a 72-hole, stroke-play tournament.

More than 2,000 independent agents help organize and administer the state and local qualifying tournaments that determine the final fields of 108 boys and 54 girls. Participation in the Trusted Choice® Big “I” Junior Classic national finals is open to any junior golfer whose 19th birthday does not occur prior to the end of the national tournament and who has not started college. The boys compete for the Robert Trent Jones Trophy, and the girls vie for the Mayerstein Trophy.

At press time, Madeleine Sheils of Boise, Idaho, was leading the girls division and Tommy Gibson of Pilot, N.C., was the leader in the boys division. Click here for updates, more information and a live Web cam on the tournament. Also, be sure to check out next week’s edition of IN&V Association News for the final results.


VIRTUAL UNIVERSITY

What Motivates Adult Learners?

 

Recent research from a variety of education groups suggest that adult learners can’t be threatened, coerced or tricked into learning something new. The traditional flogging or even the more acceptable 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. But it does seem most adults can be motivated to learn something new and in fact, many do actually 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? 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, the motivation to cope with change through engagement in a learning experience increases. Since the people who most frequently seek out learning opportunities are people who have the most years of education, it is reasonable to guess that for many people learning is a coping response to significant change.

As adults encounter work-related changes that greatly impact their lives, the research finds that the learning that adults seek out on their own 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.

Adults typically engage in these new learning experiences before, after and even during the actual life-change event. Once convinced the change is a certainty, adults are more likely to engage in any learning that promises to provide them with the ability to better cope with the impending change.

While many adults are likely to engage in learning for an array of reasons such as job advancement, simple pleasure, love of learning and so on, it is equally true that, for most adults, 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 anyone achieve their learning goals. For those seeking a more creative and fun way to get the insurance education they need in a new way, the Big “I” Virtual University, offers a wide variety of unique quality online classes to enhance and expand both insurance technical and business skills. VU classes, available to both members and non-members to purchase, 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, click here.


YOUNG AGENTS
Young Agents Leadership Institute Around the Corner


The 2007 Young Agents Leadership Institute will be held Sept. 28-30 at the Manchester Grand Hyatt in San Diego. This event features distinct breakout sessions focusing on membership development, communications and political involvement. Attendees will hear from ACORD, Artizan Internet Services and Applied Systems and members of ACT during the Technology Panel, where they will gain insight into the latest technology trends. Attendees also will have the opportunity to network with peers and Big “I” leaders, learn new strategies for agency management and develop valuable professional and personal contacts. The Young Agent Committee Awards also will be announced at this event, highlighting the efforts and enthusiasm Young Agent Committees have toward their states. The Young Agent Opening Event will be held on a San Diego dinner cruise on Sept. 29. Don’t let this opportunity pass by --- visit www.independentagent.com and click “Young Agents” for updates on the event and for online registration. For more information, contact Katie Cosgrove at 800-221-7917; katie.cosgrove@iiaba.net.


BIG “I” MARKETSSM
Commercial Property Umbrella Available

Consider this scenario: A tenant was carrying her baby on a routine walk through her apartment building when she slipped on the floor. The young mother landed on her infant, causing severe, permanent damage to the child’s hip and leg. The mother alleged that the floor was wet, and a bodily injury claim was filed against the property owner for $3 million dollars.

Then there is the case of the commercial tenant who wanted to renovate the space he rented in a building. With the permission of the landlord (who required a hold-harmless contract), the tenant hired someone to come in and renovate the space. One of the contractor’s workers fell down an elevator shaft and was severely injured. Because the tenant did not have proper contracts with the contractor holding him harmless and naming them as an additional insured, he was found solely liable for the $2.5 million claim.

These case studies illustrate that in commercial real estate, the risks are all too real. How real? More than 6% of businesses experienced a loss in excess of $5 million in the last five years. Agents now can help their property owner clients close these gaps through access to Chubb’s Commercial excess and umbrella policies. Chubb's umbrella liability insurance is designed to help mitigate the significant liability risks companies face every day and can be written over a client’s existing primary program, whether it is with Chubb or not. Log onto Big “I” Markets and check out the underwriting and coverage page for the commercial property umbrella product to get all the details.


BIG “I” MARKETSSM
Cover RVs with Big “I” Markets

According to Trailer Life, “Baby boomers have pushed the number of Recreational Vehicle owners to record levels, including some who hit the road full-time while continuing to pursue their careers. More often than not, today’s RVers are not the type who prefer sipping beer in front of the campfire, roughing it in communal showers in lieu of a nine-to-five job. Now it’s all about luxury.” The article goes on to document the increasing popularity not just of resort camping, but of RVing in general. With access to coverage for RVs designed for personal or commercial uses, agents can make sure they are insuring all of their clients who are RVers. Click here to help identify the eligible vehicle types and click here for detailed descriptions on the specialty coverages National Interstate provides. Log into Big “I” Markets at www.bigimarkets.com for complete details on this product.


EDUCATION
Enroll in the AIAO Training Program and Save

Enroll now in the AIAO training program and save 20% off registration. The class size is limited to 15 students, so sign up now to earn the designation. The curriculum is designed for agency owners, producers and managers seeking tools and strategies to position their agencies as attractive business partners for top national and regional agency carriers as well as continued growth and success. For more information, see the brochure and application or visit www.independentagent.com and click “Diversity.”



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