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T H U R S D A Y , N O V E M B E R 5 , 2 0 0 9
National News
IIABA News
Expiration of Flood Insurance Program Averted Last week, Congress passed legislation to temporarily extend The National Flood Insurance Program (NFIP) for a few more weeks, until Dec. 18, and President Barack Obama quickly signed it into law. The program was set to expire at midnight on Oct. 31.
Expiration of the NFIP would have resulted in no more new or renewed flood insurance policies and millions of consumers would have been left without flood insurance coverage. The NFIP extension was passed as a Continuing Resolution (CR) by the House and then by the Senate as part of the House-Senate Conference Report on H.R. 2996, the Interior, Energy, and Related Agencies Appropriations Act of 2010. This very short extension gives Congress another few weeks to work on a more substantial extension.
Although the Big “I” appreciates the recent action by Congress and President Obama for another short-term extension, the association strongly feels that a longer term extension coupled with reforms of the NFIP are urgently necessary. In particular, the Big “I” strongly supports an increase in maximum coverage limits and the addition of optional business interruption insurance. Homeowners and businesses need both higher coverage limits and business interruption insurance in order to properly insure their homes and businesses.
Last week’s extension was part of a series of puddle-hopping extensions that have prevented the program from expiring but have not made any changes. Another short-term extension was signed by President Obama just hours before the program was set to expire at the end of September. This spring, a similar extension was passed, making today’s short-term extension the third such action this year.
In the 110th Congress, the Flood Insurance Reform and Modernization (FIRM) Act of 2007 made progress in the House and Senate. The legislation would have extended the program for five years and made significant and needed reforms to help put the program on sound financial footing. This summer, similar legislation was introduced in the House of Representatives.
The Big “I” is very concerned that these continued short term extensions cause uncertainty in the marketplace and has been actively lobbying for a longer term extension.
Best Practices
Learn the Secrets of Top-Performing Agencies
Are you seeking a source of accurate and credible information on what the top agencies are doing to be successful?
Good news! That source already exists through the Best Practices Program, which includes a multitude of tools to address agency needs. The Big “I” and Reagan Consulting work together to find the most successful agencies, study their procedures and create tools for other agencies to learn and implement those procedures in their own operations.
A total of 180 top agencies nationwide, from a variety of incremental revenue categories, agree to share their operations and financials with the study. Through extensive questionnaires, interviews, financial analyses and on-site visits, patterns emerge. Although every agency has unique ways of operating and approaching its chosen marketplace, the research identifies definite “best practices” that are common among all successful agencies.
These “best practices” findings are not hearsay, the latest management theory espoused by business writers or consultants or the wish list of a carrier. They are exactly what real agencies, which are recognized leaders, are doing to succeed where others are struggling. The fact that the agencies are all chosen specifically for the study, and represent the entire spectrum of revenue size, adds further legitimacy to the findings. Other attempts at similar studies are inherently subject to distortion due to either the limitations or randomness of their agency study group. Some studies, for example, are simple compilations of survey responses or include only information obtained from a given consulting firm or carrier’s clients.
To guarantee the information and statistics are as fresh and accurate as possible, ongoing updates to the original study are compiled annually, and a full new study is completed every three years. The study findings form the foundation for all of the Big “I”’s Best Practices tools, which range from seminars to publications and online resources. The 2009 Best Practices Study Update is now available, along with other resources dedicated to important agency management topics such as recruiting top producers, evaluating customer service, preparing an agency crisis management plan and more. To learn how to be nominated to participate in the study and become a Best Practices Agency, click here. For more information, e-mail BestPractices@iiaba.net.
Legislative Conference & Convention
Registration Open for Signature Big “I” Event
The Big “I” Legislative Conference & Convention will be held March 3-5, 2010 at the Marriott Wardman Park Hotel in Washington, D.C. Register by Nov. 26 for a chance to win a complimentary night at the Marriott Wardman Park during the event. Agents can also enter the code EARLY2010 at the registration checkout by Jan. 29, 2010 for a 10% early bird discount. Click here to register. To book a hotel room at the Big “I” special rate, click here. Room reservations will be handled on a space-available basis until rooms at the special rate of $259 are sold-out, or until the reservation cut-off date of Feb. 10, 2010. There are a few key changes to the schedule of events. While there will not be a trade show in 2010, the event will remain a networking hot spot for the industry’s best and brightest. The general session is now a Friday breakfast event, which will include the acclaimed CEO panel moderated by Big “I” President & CEO Bob Rusbuldt. In addition, Big “I” Chairman David Daniel will give the State of the Association address to all attendees. New to this year’s schedule is YAC Gives Back: A Benefit for InVEST Scholarships. During this event, the National Young Agents Committee will host a fundraiser and the annual InVEST silent and live auctions on Thursday evening. For more information, visit www.independentagent.com/events. Registration questions can be directed to Lauren Batch at lauren.batch@iiaba.net and hotel questions to Janis Mann at janis.mann@iiaba.net.
Big “I” Winter Meeting
Golf Tournament Registration Open
The 14th Annual Big "I" Chairman's Cup Golf Tournament will be held on Jan. 8 during the 2010 Big "I" Winter Meeting at the Doral Golf Resort & Spa. The tournament will take place on the newly-renovated gold course, one of five courses at the Doral. PGA Tour legend Raymond Floyd recently redesigned this course to follow a traditional Florida layout, incorporating gently contoured greens, strategic bunkering and water surrounding 16 holes. The course features narrow, tree‐lined fairways and finishes with a dramatic par four island green on the 18th hole. This course hosted the 1999 PGA Qualifying School finals. Course information was provided courtesy of the Doral Resort & Spa; click here for a full description of each course at the Doral.
To register for the tournament or for more information, click here. Those checking out the tournament can also book a hotel room or register for the Big “I” Winter Meeting. Room reservations will be handled on a space-available basis until rooms at the special rate of $259 are sold out or until the reservation cut-off date of Nov. 27. Hotel questions can be directed to Janis Mann at janis.mann@iiaba.net and registration questions to Lauren Batch at lauren.batch@iiaba.net.
Young Agents
The Fantasy Team of the Year—InVEST and Young Agents
Each year, fantasy football fans research the best young recruits, hoping to draft the winning team and earn some extra cash to pay off holiday debt or maybe even get that new big screen TV. The Big "I" Young Agents also have an opportunity to make a connection with young insurance industry recruits by hosting the first ever YAC Gives Back: A Benefit for InVEST Scholarships. Each year, InVEST, which educates students on insurance and financial literacy and the careers in the industry, hosts a silent and live action at the Big "I" Legislative Conference & Convention. Because there will be no trade show at the 2010 event, the Big "I" National Young Agents Committee saw an opportunity to contribute.
“We’ve always seen a natural fit between the Young Agents and InVEST and we are happy we can support the program that teaches young people about a truly rewarding career opportunity,” says Andy Beauchamp, Big “I” Young Agents chairman. “By raising funds for InVEST scholarships we are creating a pipeline for young professionals to pursue a career in insurance.”
“When a young person decides insurance is the career for them, it’s important that they understand that the Big "I" has a support structure in place for young insurance professionals to gain leadership skills and make valuable, life-long connections,” adds Bill Pierson, InVEST executive director.
YAC Gives Back: A Benefit for InVEST Scholarships will be held March 4, 2010 in Washington, D.C. in conjunction with the Big "I" Legislative Conference & Convention. Sponsorship opportunities for Young Agents Committees and companies are available. The Big “I” is also looking for items to auction—iPods, jewelry and sporting events are always popular. Click here to learn more.
Virtual University
Webinars Available On Demand Do you feel pressured to issue inaccurate certificates? Do you really understand what constitutes a certificate misrepresentation? Are you familiar with laws that could hold you responsible for incorrect certificates? Does your agency have procedures in place to deal with unusual certificate requests? Did you know that you can’t say additional insured status is provided on a “primary and noncontributory” basis with absolute certainty? A webinar held on Nov. 2 answered these questions and more, and the complete webinar with the audio and Web presentations is now available any time you need it. Registration costs only $79 for members to listen as often as they want. Click here for more information.
ACT
Big “I” to Host Free Webinar on Protecting Client Information and E-Mail Security
The Big “I” Agents Council for Technology (ACT) will host a free webinar titled “Protecting Independent Agent Clients with Secure E-mail Using TLS (Transport Layer Security),” on Nov. 11 from 1:30 to 2:30 p.m. EST.
Jeff Yates, executive director of ACT, will moderate a panel comprised of Jim Rogers, director of distribution technology at The Hartford, and Tim Woodcock, president of Courtesy Computers. Click here to register.
“Agents have a strong interest in protecting sensitive data sent via e-mail and our free webinars on TLS e-mail encryption are a great way for agents to learn about the technology and to get started,” Yates. “Commercial line applications and other confidential client information must be protected when they are transported via e-mail to carriers and clients.”
The first 30 minutes of the webinar is designed for agency business leaders and explains the risks of unsecured e-mail and how TLS works. The second 30 minutes will get into a more technical discussion regarding implementation of TLS and will newly focus on implementation on a Microsoft Exchange 2007 server (rather than the 2003 server as in the past).
“ACT encourages independent agents and carriers implement TLS e-mail encryption whenever possible to protect confidential and sensitive client information if it is transported by e-mail between agent and carrier, as well as to and from clients,” Yates adds. “These vital measures position the agency to also comply with the various federal and state privacy, security and data breach laws.”
TLS is available on most up-to-date in-house e-mail servers (such as Microsoft Exchange and Lotus Notes). It is not currently available on hosted e-mail such as Hotmail, Gmail or Yahoo. Once implemented by the agency’s technology professional, TLS is transparent to the user and the primary cost is for the security certificate. It provides a better agent workflow than proprietary e-mail solutions imposed by the carrier. Many carriers are already enabled with TLS.
ACT has produced the article “Protect Your Clients with Secure E-mail using TLS,” as well as agents’ frequently asked questions about TLS, both of which can be found at www.independentagent.com/act under the security and customer privacy link. The Web site also includes a list of carriers enabled for TLS as well as a recording of the previous webinar.
Big “I” Markets
Two for Tuesday Newsletter Archive Available
Registered members of Big “I” Markets, the Big “I” online market access program featuring top rated carriers, no fees and no volume commitments, receive a weekly e-mail newsletter called Two for Tuesday. Past issues are archived online at www.bigimarkets.com. Simply click on Two for Tuesday to view the current week’s edition and from there click on TFT Archives in the top menu bar to view past issues. Learn more about the many markets available, including flood, affluent homeowners and habitational, by reading the newsletter or by logging on to www.bigimarkets.com. Questions about Big “I” Markets may be directed to bigimarkets@iiaba.net.
ACT
ACT Launches Podcasts on Agency Productivity and Internet Marketing The Big “I” Agents Council for Technology (ACT) has released podcasts on agency productivity and Internet marketing that agents can easily download and listen to on an iPod or PC. The podcasts include audio of two highly successful panel discussions that took place at the ACT Special Event with Young Agents and IIABA state officers in New Orleans this fall. Click here to access the free downloads.
“These podcasts provide a great summary of the breakthrough strategies agencies are employing today to enhance their productivity and Internet marketing presence,” says Jeff Yates, ACT executive director. “These sessions will be of great value to any agency principal, manager, producer or customer service representative who is interested in selling more, serving clients more effectively and enhancing the value of his or her business.”
Podcast 1: Practical Strategies to Enhance Agency Productivity, presented by Brian Bartosh from Top O’ Michigan Insurance; Stu Durland from Seely & Durland Insurance; Lisa Parry Becker from Parry & Son; Cyndy Smith from Haylor, Freyer & Coon; Ashley Whitney from Harbor Brenn Agencies; and Jeff Yates, ACT executive director and moderator. This presentation explores the most effective workflows and technologies being employed successfully within agencies to enhance productivity. It also examines how agencies are transforming the roles of their staffs to encourage more proactive service and sales. Podcast 2: The Transformation in Agency Marketing, presented by Steve Anderson from Steve Anderson Consulting; Katie Herbst of Westfield Insurance; Angelyn Treutel of Treutel Insurance Agency; Rick Morgan of Rick Morgan Consulting; Rick Dinger of Crescenta Valley Insurance; and Peter van Aartrijk, president of the Aartrijk Group and moderator. This podcast looks at how agencies are rebalancing their marketing strategies to more of an online focus by using their Web sites, social media and search engine positioning.
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