T H U R S D A Y ,  D E C E M B E R  3 ,  2 0 0 9 
                                                     
                                                     National News

IIABA News
Big “I” Comes to the Defense of Small Businesses in Health Care Ad

The Big “I” unveiled a new health care ad this week just as floor debate began in the Senate.  The one-page ad ran on Wednesday in the Washington, D.C. paper Politico, which is one of the top sources of news on Capitol Hill and is read by decision-makers from all branches of government.

The advertisement highlights that if small businesses end up footing the bill for reform, as some in Washington have proposed, “Main Street will be unable to create the new jobs our country desperately needs.” The Big “I” ad features a $1 billion restaurant tab and boldly states that “if we pay for health care on the backs of small business owners, we all lose.”

The piece is part of the association’s ongoing efforts to protect small businesses, including more than 22,000 independent insurance agencies and their clients, in the health care debate.

To view the ad, click here. 

Virtual University
VU Offers Workers’ Compensation Experience Rating Webinar

There are many real-life examples of premium overcharges due to workers’ compensation experience mod errors. In each case, a bidding agent was able to take accounts away from an existing agent who was not vigilant in monitoring the insured’s mod. During the workers’ compensation experience rating webinar, participants will learn to decipher a mod worksheet and explain it to an insured or prospect. Agents will also learn what information is needed to monitor, check and project mods, how to calculate a mod from scratch and how to identify and correct worksheet errors.

The webinar will explain what experience rating is and what it is not. This is critical to understanding how an insured can have a relatively high mod with what appears to be good loss experience. Through exercises, participants will be able to determine when an account is eligible for experience rating and when it's not, which is especially good to know if the insured has a debit mod. The webinar will also explore the impact of ownership changes on the mod when someone sells a business to a newly created corporation in an attempt to revert to a 1.00 mod.

Using Kennamer Karpentry as an example, webinar presenters will identify the sources of information needed to check or calculate mods, from the worksheet to loss runs and audit reports. They will examine and explain every single entry on a mod worksheet, from expected loss rates to D-ratios and weighting to ballast values. At the end, participants should be able to explain these items in a way insureds can understand.

The presentation will also use Webber Enterprises to go through a complete exercise of calculating an experience mod from scratch, and will discuss some related issues such as when changes can be made to the mod after policy inception, the impact of loss frequency on a mod, how deductible plans work, the importance of loss control and an overview of interstate rating.

The webinar includes a full PDF workbook with dozens of real-life examples and exercises. All of the errors addressed actually happened to real insureds. Click here for more information and to register for the webinar.

Best Practices
Top Producers: Discover, Train, Reward Guide is a Must-Have for Every Agency

Top Producers: Discover, Train, Reward is the most comprehensive guide to finding, hiring, training and compensating producers that the Big “I” has ever created. This guide contains a wealth of comprehensive, clear advice that provides agency principals with a roadmap to success for hiring producers. The text is organized into three major sections: selection, development and motivation. These sections lay out a complete roadmap from the initial planning steps to keeping experienced and successful producers motivated.. Also included are numerous worksheets, formulas and charts for setting goals, establishing proper compensation, determining sales potential, and tracking producer activities. As an added bonus, the manual includes the complete text of the Big “I” Guide to Producer Contracts, which sells for $29.95 if purchased separately.

Click here to obtain a copy of Top Producers and learn about all the Best Practices resources available.

LC&C
2010 Big “I” Legislative Conference & Convention Features New Events

InVEST will host its first ever National InVEST Teacher Workshop March 4-5 during the Big "I" Legislative Conference & Convention (LC&C) at the Marriott Wardman Park Hotel in Washington, D.C. Those registering for the LC&C are invited to attend two components of the workshop for an additional registration fee: the National InVEST Teacher Reception & Dinner on March 4 from 6 – 9 p.m. and the National InVEST Teacher Workshop on March 5 from 10 a.m. - noon. For more information, contact Jennifer Robinson, InVEST program manager, at jennifer.robinson@iiaba.net. 

Also new to this year’s convention schedule is YAC Gives Back: A Benefit for InVEST Scholarships. The National Young Agents Committee will host a fundraiser and the annual InVEST silent and live auctions at the Thursday evening event. YAC Gives Back is open to all convention attendees. Click here to register for the LC&C and for the National InVEST Teacher Workshop. Enter the code EARLY2010 at registration checkout by Jan. 29 for a 10% early bird discount. To book a hotel room at the special Big “I” 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 our reservation cut-off date of Feb. 10, 2010. For more information, visit www.independentagent.com/events. Registration questions may be directed to Lauren Batch at lauren.batch@iiaba.net and hotel questions to Janis Mann at janis.mann@iiaba.net. 

Trusted Choice^® 
Big “I” Accepting Applications for Dan Fulwider Award

Dan Fulwider, former Government Affairs Coordinator and Membership Liaison for the Independent Insurance Agents of Iowa and a huge supporter of Trusted Choice^®, was dedicated to his community and the causes he believed in. Fulwider passed away last year after a valiant fight with cancer, and in recognition of his community involvement, the Big “I” has established an annual award of $2,500 for the selected agency to give to the charity of its choice. The award recognizes agencies that have gone above and beyond in serving their communities. Click here for more information, including an application and award guidelines. The award will be presented at the 2010 Big “I” Legislative Conference & Convention, March 3-5, 2010, at the Marriott Wardman Park in Washington, D.C. For more information, contact Kevin Brandt at 800-221-7917; kevin.brandt@iiaba.net or Jenner Gohr at jenner.gohr@iiaba.net. 

Virtual University
New ACORD 24 and 25 Forms Available

ACORD swiftly completed the working group process following the 13th edition of the ACORD 25 certificate of insurance in January 2009. The group has produced a new September 2009 14th edition that incorporates what may be the most significant changes since the ACORD 25 was introduced in November 1977.

In all, 39 changes were made to the two certificate forms. A few of the changes include: the form being reduced to one page; all disclaimer language consolidated into one section at the top of the page; columns are now provided to indicate additional insured status and waivers of subrogation; the "special provisions" section has been revised and perhaps most importantly, the forms no longer provide a notice of cancellation.

The Big “I” Virtual University has published an article detailing the above changes and outlining all 39 changes to the forms.The Big “I” strongly encourages all agency personnel to read about the changes as soon as possible. Those without login information can e-mail logon@iiaba.net. Big "I" members can submit questions about the changes using the "Ask an Expert" service on the VU Web site.
The certificates of insurance resource section of the VU Web site also provides general information on certificate of insurance issues, including an archived webinar.


InVEST
Shop to Support Scholarship Funds

Although Black Friday and Cyber Monday have passed, there is still time to do some shopping in support of InVEST scholarships. Each year, InVEST hosts a silent auction which raises scholarship money for students looking to pursue a career in insurance.
This year, the National Young Agents Committee (YAC) is hosting the event YAC Gives Back: A Benefit for InVEST Scholarships in conjunction with the Big "I" Legislative Conference & Convention, March 4, 2010 in Washington, D.C. Donate an item to the auction line-up and your company will be recognized at the event, in the silent auction catalog and on www.independentagent.com/events. Your silent auction donation supports InVEST students as they pursue higher education and a career in insurance.

Not sure what to donate? Just consider what you and the family are wishing for this holiday season. Gadgets, jewelry and sporting event tickets are always popular, or let InVEST do the shopping for you by providing a monetary donation. The YAC Gives Back event will feature casino-style games and a poker tournament to raise additional funds. Click here for complete event details.

Big I Advantage^®
Virtual Risk Consultant Available to Assist Agencies

The Big I Advantage^® Virtual Risk Consultant (VRC) powered by Rough Notes is an online sales and service resource designed to help agencies better serve customers. Using this tool will lead to increased sales by better understanding a prospect’s operation and enabling producers to better identify and cover customer exposures. The VRC will help agents better understand the products they sell and will also assist agency staff in preparing proposals, explaining complicated insurance terms and, most importantly, documenting client files. It is a tool that will increase staff professionalism and help agency growth while limiting exposure to errors & omissions claims.

Claims data for the Big "I" Professional Liability program reveals that about 40% of claims involve the agent failing to procure coverage and failing to adequately identify exposures. The commercial and personal lines risk analysis system on the VRC assists producers and CSRs by: educating agents on the exposures of businesses in more than 650 different industries, including recommended minimum coverages; creating and printing comprehensive questionnaires to collect the information necessary to complete ACORD applications; providing a comprehensive list of coverages with succinct definitions to enhance understanding at the point of sale; and offering important customer file documentation in the form of a comprehensive checklist of coverages offered, accepted, rejected or not applicable, which is signed by the customer and stored in the file.

Big "I" members have exclusive access to the Big I Advantage^® Virtual Risk Consultant. Similar products sell for thousands of dollars. Big "I" members enjoy a deeply discounted rate, as detailed below.

To see the VRC in action, click here to experience a limited demo.

For a telephone demo of the Big "I" Advantage Virtual Risk Consultant, and details about what is included, call Margaret Rhodes or Nancy Lynch at 877-582-9199.