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Industry News
IIABA News
Habitat Project Registration Deadline Aug. 23
New Orleans? Take part in the Big "I" 2006 Leadership Convention Community Project. The Big "I" is coordinating two building shifts in partnership with Habitat for Humanity. The first shift, at 8:30 a.m. is full. Just a few spots are available for the second shift, scheduled for 12:30 to 4 p.m. on Sept. 8. Anyone can volunteer!
Participants must complete a separate registration form. Opportunities are limited to the first 300 registrants, so sign up today. Registration closes Aug. 23.
While progress has been made in New Orleans, work remains to ensure that everyone has a place to call home. Habitat for Humanity, with the help of more than 30,000 volunteers, hopes to build 1,000 homes by mid-2007 and you can help.
Not sure about your construction skills? No problem! Volunteers at all levels of construction experience, from first-time builders to experienced professionals, are welcome. For more information please contact Madelyn Flannagan at 800-221-7917;
madelyn.flannagan@iiaba.net.
Special thanks to the following sponsors of the Big “I” Community event*:
Applied Systems
Encompass Insurance
Fidelity National Insurance Services
RLI
Safeco Insurance
Swiss Re
The Hartford
Travelers
Zurich North America
Independent Insurance Agents of Louisiana
Independent Insurance Agents of North Carolina
Massachusetts Association of Insurance Agents
*Contributors as of Aug. 9, 2006.
If your company or organization is interested in contributing through sponsorships, contact Beth Montgomery at 800-221-7917; beth.montgomery@iiaba.net.
Young Agents
Attend the Leadership Institute in New Orleans
The 2006 Young Agents Leadership Institute will take place Sept. 8 through 10 at the Hilton New Orleans Riverside. This exciting event features numerous opportunities for Young Agents to learn new leadership and business development skills.
Keynote speakers Keith Harrell and Brian Bagley will share their insights into the independent insurance industry. Harrell will offer ways to tune up your attitude and improve your professional and personal life. Bagley, who contributed to the New York Times bestseller “Good to Great: Why Some Companies Make the Leap…And Others Don’t,” will discuss how companies grow and attain superior performance---and how good companies can become great companies.
The Leadership Institute features breakout sessions focusing on membership development, political involvement and communications. In addition, the Young Agent Committee Awards will be presented and attendees are invited to join the Young Agent event on Bourbon Street. Click herefor updates and to register online.
Young Agents also will have the chance to participate in the afternoon session of the Big "I" Leadership Conference Community Project, volunteering their time and skills to assist with a Habitat for Humanity homebuilding project that gives back to Hurricane Katrina victims. Spaces are limited. Click hereto register.
For more information, contact Katie Cosgrove at 800-221-7917; katie.cosgrove@iiaba.net.
Trusted Choice®
Brand Program Expands Advertising Plans
Beginning next month, Trusted Choice® will embark on a new advertising strategy to benefit its 6,200 participating agencies.
This new strategy calls for national cable television advertising for 12 consecutive months beginning next month and running through August 2007. Each month will feature numerous Trusted Choice® TV ads over a two-week period on a single national cable network. The first six months of the schedule are:
- September 2006 - The Weather Channel
- October - Fox News
- November - Fox News
- December - The Food Network
- January 2007 - The Travel Channel
- February - Fox News
The stations for the six-month period from March to August 2007 will be announced at the first of the year.
This approach minimizes the amount of so-called dark periods—times when Trusted Choice® ads are not on TV—between ad flights. This activity will keep Trusted Choice® in the forefront of consumers’ minds for longer periods and ensure that it reaches its core target audience of college-educated adults, age 35 to 64, with a household income of $75K and above.
The other benefit to this strategy is that it provides Trusted Choice® agencies with more predictable and plentiful local ad tie-in opportunities. Now agencies will have 12 opportunities to run ads locally to complement the national ads. By running a local campaign, your agency will get double exposure with area consumers who think all the ads are about your Trusted Choice® agency.
Start planning today! Pick a minimum of one ad flight per quarter, and plan your local ad campaign by using the customizable ads provided in the “Agents/Brokers” section of www.TrustedChoice.com. You don’t have to use just the TV ads to earn double exposure. Print, radio and billboard ads are just as effective. Participating agencies can obtain the customizable ads and helpful media-buying guides by clicking here.
Remember: Agents who invest a little time and a small amount of their resources in advertising can significantly raise the profile of their Trusted Choice® agency with local consumers—including existing and prospective customers. And that investment can pay big dividends for your business.
For more information, contact Jenner Gohrat 800-221-7197; jenner.gohr@iiaba.net.
Virtual University
New ACORD Forms Debut
The updates ACORD 27, Evidence of Property Insurance, and ACORD 28, Evidence of Commercial Property Insurance, released on July 28, incorporate suggestions from the Big “I” Technical Affairs committee. A vote of the ACORD Forms Standards Subcommittee required that both these forms be revised. In addition, the terms used in the Coverages Information section have been modified to reflect current insurance terminology.
The prior edition of the ACORD 27 provided broader coverage and conditions than the new edition. The form now tracks the ACORD 24, Certificate of Property Insurance, form by saying it doesn't change the terms and conditions of the policy and the "will endeavor" language with regard to notice of cancellation is now included. The prior version said the policy was in force and notice of cancellation will be sent.
Big “I” members can access samples of these new forms and find a comparison of the new vs. old form language by logging onto the Big “I” Virtual University. If you do not know your user name and password, e-mail your name, agency name and full contact information to logon@iiaba.netand the VU help desk will respond promptly.
For more information about the Big “I” Virtual University and how your agency can take advantage of this innovative member benefit, contact Madelyn Flannagan at 800-221-7197; madelyn.flannagan@iiaba.net.
VU Adds 50th Expert
The Big “I” Virtual University has appointed Michael Podoshen, CPCU, ARM, former assistant vice president of personal lines and corporate risk manager for Insurance Services Office, Inc. as its 50th expert. Podoshen brings extensive expertise surrounding insurance service offices, as well as loss control and risk management, to the VU.
Podoshen joins the VU’s Ask-An-Expert panel. Experts are available to answer Big “I” members’ questions about insurance, business or related technology, with topics ranging from agency management to sales to customer service to the Internet. Experts answer questions within 48 hours at no cost to Big “I” members.
“The Big ‘I’ Virtual University is an incomparable resource for independent agents and broker, and we are very fortunate that these well-regarded experts volunteer their expertise to our members, “ says Madelyn Flannagan, Big “I” vice president of education and research. “The Ask-an-Expert service brings together 50 of the industry’s foremost minds on topics that directly affect agents. The research library hasthousands of articles covering a wide range of issues from teen drivers to construction defects. Online classes offer expertise in a wide variety of commercial and personal lines coverages, including a designation program—and are available to members and non-members for continuing education credit in some states.
“In this competitive industry, the VU helps agents and brokers stay on top of their game. Not only are answers to complex coverage questions at their fingertips, but the latest technology advancements and hints are right in front of them—anytime, anywhere. Our cutting-edge online services make it possible for today’s agencies to get the critical information they need, wherever and whenever they need it,” Flannagan adds.
Divided into three subject areas---insurance, business and technology---the research library features sample forms, coverage analyses, Best Practices information, software guides and more. The VU also offers more than 40 desktop computer skills courses available to agents and brokers that aim to increase their competitive advantage and market share.
Best Practices
Is Your Agency Reaching its Full Sales Potential?
The annual Best Practices Study originated in 1993 as an initiative to help independent agents build the value of their most important asset, their agencies. This study looks at the strategies, and practices of these leading agencies and shares examples and applications for other insurance agencies to adopt or adapt for use in improving their own agency performance. This sales potential diagnostic, or Quick Check, will help you measure the performance of your agency relative to those considered "best practice." In order to measure sales performance, the Quick Check focuses on four areas critical to world class sales performance; a sales culture, a demonstrated commitment to sales, a clear business development strategy and a results focus.
Download and score the test to analyze the level of sales potential being leveraged or left untapped in your agency. This test typically aids in identifying opportunities to create a stronger sales organization and thus generate more business.
To learn more about the Leadership and Sales tools available to your agency, visit the Best Practices area of the Big “I” Web site at www.independentagent.comtoday.
For more information contact Madelyn Flannagan at madelyn.flannagan@iiaba.net.
Big "I" MarketsSM
Access Travelers’ Community Bank Product through BIM
As a Big “I” member, you have access to an excellent community banks product from Travelers through Big "I" Markets. According to Tom Young, Travelers’ managing director of community banks, several factors are causing an increase in bank robberies. Addressing a group of Massachusetts members at a Community Bank Seminar last week in Randolph, Mass., Young said the expansion of branches into supermarkets and convenience stores is helping fuel the increase in bank robberies. This points to the need for community bankers to have a financial institution bond that includes crime coverage. The Travelers Bond is written with no annual aggregate limit of liability when the single limit of liability is $10 million or less, and it covers customers and employees’ property during on-premises holdups and robberies regardless of the bank's liability for the property. Click here to look at the Travelers Financial Institution Bond that is available as part of the SelectOneSM product for Community Banks. Also remember that your Travelers underwriter is ready and willing to help you close a sale, and is even available to call on the bank with you to address all of your client's questions. Submit the quote request on Big “I” Markets and let Travelers assist you every step of the way. Learn more at www.bigimarkets.com
Big "I" Flood ProgramSM
More Tools for "Thinking Flood"
It is up to you to remind your clients that property policies such as the homeowner and commercial package policies do not cover flood. To protect against the peril of flood, they must purchase a separate policy, like the NFIP Flood Policy that is offered direct or through one of the Write-Your-Own companies. Are you able to talk flood as soon as the phone rings or your customer walks into your office? On the FloodSmart Web site, you and your client can immediately identify what the flood risk is for the property and get a premium indication by looking at the various Quick Quote rate tables. Does your client need some convincing about the need for flood insurance? Check out this new interactive tool from FloodSmart: Test the Waters. Click herefor more resources and to learn how to roll your book over to the Big "I" Flood Program.
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