|
|
 |
 |
T H U R S D A Y , N O V E M B E R 1 , 2 0 0 7
Industry News
IIABA NEWS
Big “I” in Media Spotlight
In the wake of the California wildfires, the media turned to Big “I” staff and members for commentary, reaction and consumer advice. Among the interviews was Big “I” President & CEO Bob Rusbuldt’s appearance on CNN last weekend. The network’s flagship personal finance show, “Your Money,” featured Rusbuldt in a segment on catastrophe recovery and the homeowner claims filing process. During the interview, Rusbuldt touted the work of Trusted Choice® independent agents and brokers and explained the benefits of working with them at the time of a claim. This piece, with anchors Ali Velshi and Christine Romans, ran on Saturday and Sunday on CNN. To see it, click here. For more information about this and other recent media hits, contact Sue Nester at 703-706-5448; susan.nester@iiaba.net.
IIABA NEWS
Rusbuldt Named to 100 Most Powerful People List
Big “I” President & CEO Bob Rusbuldt has been named to the 100 Most Powerful People in the Insurance Industry list for the sixth straight year. The list, compiled annually by InsuranceBroadcasting.com in conjunction with the Insurance Media Association, recognizes the people believed to have the most resources available to them and who have the greatest ability as a group to successfully accomplish any goal or directive of the insurance industry. This honor recognizes not only Rusbuldt but the entire association. To view the entire list of profiles, go to www.insurancedreamteam.org.
InVEST
Program Impacting Students
A growing number of students from across the country understand the effect the InVEST program has on themselves and their career aspirations. As part of an industry desperate for new blood, do you?
InVEST, a 501(c)3 education foundation, provides insurance instruction to high school and college students with help and support from agents. Students, agents and companies involved in InVEST are reaping the benefits of this one-of-a-kind program. Here’s what a few InVEST graduates and scholarship award winners had to say about it.
“‘Tell me and I forget; show me and I remember; involve me and I understand.’ This quote summarizes exactly what InVEST has done for me. Throughout the time I took InVEST in my junior year at St. Petersburg Catholic, I learned a lot about the insurance industry, but most importantly I learned valuable life skills that will be with me through all of my future endeavors. I learned all of this through the school-to-work approach that InVEST offers.” – Amy L., St. Petersburg Catholic High School, St. Petersburg, Fl.
“It was opportunities offered to me by InVEST that gave me the chance to attend the Youth Employment Skills Academy. Over 120 business executives worked with students from around the state of Connecticut to help them learn more about proper conduct within the workplace, team working strategies and how to cope with difficult co-workers. This experience helped form the basis of my business skills which I will use throughout my career.” – Andre M., East Hartford High School, Hartford, Conn.
Personal involvement with a local InVEST program in your area can be at whatever level an agent is most comfortable with. Anyone who isn’t part of a program should take a moment to learn more by visiting www.investprogram.org or by contacting one of the InVEST team members at 1-800-221-7917.
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.
BEST PRACTICES
Prepare Now for Potential Business Interruptions
Dis-as-ter (n): An occurrence causing widespread destruction and distress; a catastrophe; a grave misfortune.
Hurricane Katrina, the fires in California, flooding and the events of Sept. 11 were all disasters and every one of them affected insurance agencies. Some suffered direct hits, others massive claims, still others market and business interruptions.
Whether a catastrophic or stressful disruption, the best way to prepare for any potential disaster is crisis management. Now, while not in the midst of an emergency, is the time to apply clear-headed thinking to develop a plan. A plan is ready to automatically kick into gear at the moment it’s needed – the moment the disaster strikes. A plan allows an agency and its staff to quickly mobilize the right resources in the right order to get it up and running as smoothly as possible, with as many contingencies as possible accounted for in advance. A plan minimizes panic and frustration and gives the agency a track to run on at a time when thinking clearly may not be easy or possible.
The Best Practices of Crisis Management has been updated to reflect technology risks, planning trends, and resources and is now available. An investment of $99.95 can save both an agency and its clients frustration, business loss, customer angst and provide peace of mind. Click here to download an order form.
BIG “I” MARKETSSM
Real Estate Agents E&O Available
Your agency probably has a few real estate agents on its client roster. You may insure their home and their car, but have you thought to offer professional liability insurance? Share this story with any agent who doubts a need for the insurance. This claim involves an insured agent who was the listing agent for a home not far from a lake and adjacent to a park/wilderness area. The sellers were children of friends of the agent. When the sellers were filling out the seller’s disclosure form, they asked the agent how they should respond to a question involving rodents, insects, etc. When they moved into the house they had dealt with garter snakes in the lower level of their home and in the front yard. The seller said they hadn’t had any problems in the house for several years. The agent responded: “If you write anything down about snakes that could be the kiss of death for trying to sell this home.” With that response, the sellers didn’t disclose any past problems. The buyers discovered snakes on the property and brought a lawsuit and the sellers, during deposition, repeated almost word for word the same statement our agent had said.
In order to resolve the case, another agent in the insured’s office listed the home for no commission and with a full disclosure about the snake issue. The damages paid are the difference between the purchase price paid by the buyers and the sale price plus some additional amounts.
To access real estate agents E&O, log on to www.bigimarkets.com.
VIRTUAL UNIVERSITY
Question, Questions, Questions and Now Some Answers
Below is a seemingly random list of questions. See if you can figure out what two things they all have in common.
• My daughter stills lives with us but has her own car and insurance. If our 16-year-old son drives it is he covered by either policy?
• Should I buy the rental car collision damage waiver? Does my insurance protect me when I rent a U-Haul truck?
• Does my auto insurance cover the company car I drive? What should I do?
• There’s nothing of value in my apartment…why do I need renter's insurance?
• Someone told me to put my teenager on his own auto policy…is that a good idea?
• Does my homeowners policy extend to my daughter in college?
• The divorce is final…take my wife's car and jewelry off the policy, OK?
• I’m moonlighting as a pizza delivery guy, any problems with my auto insurance?
• Hail damaged some shingles on my roof and I want a new one, OK?
• I'm told I've got “toxic mold” in my basement, will my insurance cover this?
What two things do these questions have in common? First, they're typical of questions that arise in your agency every single day. Second, the answers to these and many other questions are just a click away, right from your computer’s desktop.
These are just a few examples of the questions (and answers) available to members in the Big “I” Virtual University's free, bi-weekly e-mail newsletter, The VUpoint. Every other Friday, members receive an e-mail with six articles on: 1) personal lines; 2) commercial lines; 3) agency management; 4) sales and marketing; (5) customer service; and 6) technology and the Internet. Everyone at your agency or company can subscribe for free.
The VUpoint newsletter currently has a subscriber base of over 30,000 and a readership estimated between 35,000 to 40,000. It is received in almost 40 countries. In a recent independent online survey, The VUpoint was voted the favorite online insurance newsletter, exceeding the next closest e-mail newsletter by a factor of more than 2:1.
A complete index of these and other past articles can be found on the Big “I” Virtual University Web site. Members can also subscribe to the newsletter on this Web page, all that’s needed is an e-mail address.
Big “I” members now can access a rapidly growing research library and IIABA’s “Ask an Expert” service at no cost. In addition, fee-based online courses are now available on subjects ranging from workers compensation experience rating to insuring the rental car exposure to consultative selling skills. The library articles and/or “Ask an Expert” faculty members have been quoted in newspapers and magazines all over the country, from Kiplinger to Smart Money and even Readers Digest. This site, which is free to members, is quickly gaining a reputation as the site on the Internet for practical, valuable, current and accurate insurance industry information.
Need answers? The VU has them and now you can, too. Simply click on the free newsletter link at www.independentagent.com/vu.
|
|
