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T H U R S D A Y , S E P T E M B E R 6 , 2 0 0 7
Industry News
BEST PRACTICES
Implementing Best Practices Good Business
Best Practices means doing the right things right the first time.
Explore new ways of doing business that eliminate duplication, reduce frustration and adds value for customers. Learn what agents and companies can do together to improve their critical relationships while increasing the value of the independent agency system through the Best Practices program.
The Best Practices program offers resources that tackle important agency management issues such as: recruiting, hiring and retaining top producers; evaluating customer service; joint agency/company planning; leadership skills; producer contracts; crisis management; sales and the core of the program --- the Best Practices study. This study evaluates the many financial and operational factors of the approximately 200 of the most profitable and growth-oriented agencies in the U.S. Each year, the information is updated and published allowing others to use the statistics to evaluate their own agency operations.
Every agent can benefit from learning about and using Best Practices. For more information and to download an order form, visit www.independentagent.com and select “Best Practices.”
InVEST
2008 Scholarship Program Launches
InVEST awarded $43,000 in scholarships this past spring to students participating in a high school or community college InVEST class, and pursuing higher education with an emphasis on insurance or a related business field such as finance or marketing.
With the new school year, the process starts all over again. Click here to download the InVEST scholarship application and to learn more about eligibility and requirements. Applications and essay entries must be received by April 18, 2008. InVEST encourages agents involved in the program to begin promoting the scholarships now to help raise the level of awareness for students.
Two other awards also will be presented next spring: The InVEST Teacher of the Year award recognizes an InVEST teacher who has made substantial contributions to his or her InVEST students and the Dach Award, bestowed upon an InVEST industry liaison(s) dedicated to their InVEST students. Both awards submissions are due on March 14, 2008. Click here for more information.
For more information, visit www.independentagent.com and click on InVEST or contact Amber Williamson at 703-706-5425; amber.williamson@iiaba.net.
YOUNG AGENTS
Attend a Break-Out Session at the Leadership Institute
Communicate! Become more politically involved! Gain new membership and retain current members! The 2007 Young Agents Leadership Institute will be held Sept. 28-30 at the Manchester Grand Hyatt in San Diego. The Young Agents Leadership Institute includes a full program of speakers, breakout sessions, panel discussions and networking events. Distinct breakout sessions focusing on membership development, communications and political involvement are focused on enhancing Young Agents programs from across the country. Attendees will learn how to boost their current efforts and learn new ways to develop and improve their programs. Attendees will leave the program with a plan of action to utilize for the year ahead of them. Speakers for these breakout sessions include:
Membership Development - Lisa Harrington; vice president of education at the Florida Association of Insurance Agents.
Communications - Susie Bonner; non-profit marketing manager, IIABA.
Political Involvement - Randy Lanoix, state national director of Louisiana and government affairs committee member.
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.
EDUCATION
AIAO Course Begins Sept. 18
Time is running out, but it’s not too late! Join agency owners, principals and general managers Sept. 18 for the beginning session of the AIAO designation course. The strategic planning course is the first in a three-part series that will have attendees on their way to earning this designation by the Big “I.”
Can’t make the first session? Ask how you can start with any of the three segments: strategic planning, Sept. 18-20; sales training, Dec. 4-6; and superior customer service, Feb. 12 -13. Future classes will be rescheduled in 2008. Completion of all three segments earns the AIAO designation.
The sessions will be held in Alexandria, Va. The tuition is $1,600 for the entire, eight-day AIAO series and payments can be made in installments. The class size is limited to 15 students and is open to all agents and staff of the Big “I.” Don’t delay, click here to download registration information or contact Gwen Garvin for more information at 703-706-5411; gwen.garvin@iiaba.net.
VIRTUAL UNVIERSITY
‘Ask an Expert’ Answers to Insurance Questions
Independent agents and brokers looking for answers to their most pressing insurance and financial services questions can turn to the Big “I” Virtual University’s “Ask an Expert” service for advice from the industry’s leading insurance experts.
The VU is a state-of-the art online insurance educational and informational resource program. The VU’s “Ask an Expert” service lets users submit questions (via an online form) to one or more of the over 50 top insurance and agency management experts, or “faculty,” who field questions for VU.
“Our volunteer faculty of industry experts represents the brains and the brawn of the VU,” says Bill Wilson, VU director. “Sometimes agents and brokers need answers to questions that they can't find in the VU’s research library, classrooms or student lounge. In such instances, we have a faculty of experts who can usually answer, or find an answer, to questions posed by agent and brokers.”
“Ask an Expert” offers a variety of answers to all types of questions and requests including:
“I need information about an endorsement under CGL called a Cross Liability Endorsement. Where can I find information about this endorsement?”
“We are besieged by demands from large firms to include ‘primary and non-contributory’ wording on certificates --- any help you can give in educating risk managers and attorneys would be appreciated.”
“A friend of mine had a house built by a general contractor who subcontracted flooring to a sub. The job turned out extremely bad. My friend does not want to sue the general contractor. Can he go directly to the sub, and if so, do we have a products/or completed operations claim?”
The individuals that answer these and other questions for “Ask an Expert” are highly credentialed, knowledgeable leaders in the industry and can offer expertise in the areas of agency management; sales, customer service and public relations; technology and the Internet; and commercial and personal insurance. Some of these experts include:
Al Diamond - Diamond is a veteran of the insurance industry who has spent more than 30 years working for both stock and direct writing insurance companies and agencies.
Howard Candage, CPCU, CIC, AMIM, AAI, AIS - Candage is president of H.E. Candage, Inc., and is currently providing insurance management and technical education throughout the United States and Canada.
Chris Burand - Burand is president and owner of Burand & Associates, LLC. Since establishing Burand & Associates in 1992, he has become a nationally recognized speaker and author whose articles have appeared in many insurance publications.
John Eubank, CPCU, ARM - Eubank is CEO and president of Professional Insurance Education, Inc., and is recognized as one of the nation's premier insurance education instructors, having served as a national faculty member of the Society of Certified Insurance Counselors since 1976. Additionally, Eubank is a recipient of the Professional Leadership Scroll from the American Institute for Property & Liability Underwriters and the Insurance Institute of America.
Mike Edwards, CPCU, AAI - Edwards is a professional insurance trainer and heads an insurance training firm in Atlanta, Ga. Previously Edwards served as the director of education for the Independent Insurance Agents of Louisiana and as an instructor for the Florida Association of Insurance Agents.
Additionally, the VU is proud to have The Hartford Steam Boiler Inspection and Insurance Company and InsurBanc as members of its growing list of experts. Hartford Steam Boiler is one of the world’s leading global specialty insurer and reinsurer and InsurBanc is wholly-owned subsidiary of Peyton Street Financial Services Corporation, a thrift holding company and a joint venture of the Big “I” and W.R. Berkley Corporation. Both companies bring considerable industry expertise to the “Ask an Expert” service.
The “Ask an Expert” service launched in 1999, and now answers more than 4,000 questions yearly from agents and brokers across the country. After the tragic events of 9-11, “Ask an Expert” answered more than 1,000 terrorism insurance-related questions, some from outside the United States.
The VU and its “Ask an Expert” service are available exclusively to Big “I” members. Big “I” members get free, unlimited access to the VU as a member benefit.
Make sure that you have your agency ID and Password to access the VU and find out more about is exclusive service.
BIG “I” MARKETSSM
Access Workers’ Comp and More from Standard Lines
Big “I” Markets partner Standard Lines Brokerage specializes in stand-alone workers’ compensation insurance and has been working hard to bring agents better products and commissions. The Big “I” Markets is proud to announce that it has been able to increase commission on qualifying new business to 8% to 10%, dependent on the carrier. Another important improvement is a new association with the top writer of tough-to-place workers’ comp in the business. Standard Lines can now consider almost all types of workers’ compensation. And dividends are available on certain classes up to 20% based on premium and loss experience.
Another specialty of Standard Lines is commercial packages. The most widely written risks to date are retail and wholesale operations, distributors, offices and technology enterprises. However, the list of eligible classes is much more expansive than that. Click here to access the desirability guide which will help you identify what commercial risks to target. Drive around in your local community and chances are a good number of the establishments you find yourself among will be risks you can submit. Learn more and start doing business online today at www.bigimarkets.com.
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