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February_10 Communications

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AGENCY MANAGEMENT
Agency Valuation and Divorce

Insurance agencies sometimes become a part of marital assets considered within a divorce. The separation of “professional goodwill” from “enterprise goodwill” has significantly altered the permitted agency value in divorce situations in some areas. Agency valuation in divorce situations differs from those for estate planning, partner acquisition and loan substantiation.

SALES
Pitch Properly

What salesperson has not been disappointed to hear he has lost a deal as the result of selling to the wrong person? Despite asking, many salespeople, without knowing it, find themselves pitching to someone other than the decision maker.

CUSTOMER SERVICE
Judy and the Jerk

Judy has noticed that her mood is profoundly contagious. If she allows herself the luxury of slipping into the office in a bad mood, the day goes downhill from there. After years of running a successful firm, she’s learned a few things about making sure the office runs well so the clients have a smooth ride. Her attitude, she’s discovered, is pivotal.

TECHNOLOGY
Electronic Delivery of Policies

It is inarguable that independent agencies own the customer account. But, do they own the declarations pages and other policy documents stored on the insurance company Web-based systems? What kind of access should agents have to account information (documents and data) on a carrier’s automation system? How about terminated agencies?

COVERAGES
Purely Accidental?

An insured was injured in a collision between her vehicle and one driven by another party who intentionally collided with her vehicle. The other party’s insurer denied the claim because it was not accidental. When the insured turned to her carrier for payment for her injuries under UM coverage, the insurer denied the claim on the same basis.

Video

Cover Story
A Full Plate

In recent health insurance renewal cycles, agents have had a full plate of challenges. Independent insurance agents may have felt like they are battling Goliath during the past two renewals, between reduced commissions and lower revenues.

Chairman's Voice
Filtering the Truth

Spring is a perfect time to reflect. Cleaning out your house helps to get rid of the old while also looking to the future. We do the same thing in our professional lives. As independent insurance agents, we wonder what our Big “I” membership will look like and what we will need from the association in order to be successful going forward.

Forms & Substance
Pools and Contents Coverage
Swimming Pools and the Homeowners Policy; Swimming Pools and the CGL Policy; When Residents Have No Contents Coverage (and Worse)

On Branding
Time to Reinvent Your Branding

Call it what you want, but few pop stars and fewer businesses have understood the intricacies of Madonna’s genius of reinvention and the inevitable end of the business cycle. Learn from the branding expert. While Madonna soars, everyone else seems to stumble, bumble and disappear down a deep, dark hole.

On the Hill
Supreme Court Deliberates on Health Care Law

As early as next month, the U.S. Supreme Court may announce its decision regarding several challenges to the Patient Protection and Affordable Care Act (PPACA). Timed just as the presidential election campaign season heats up, it may cause a bigger splash than when President Barack Obama first signed the controversial reform package into law.

Ace Insura
The Case of the Motorcycle Madness

Ace meets an insurance agent at a help group for people with trust issues. Ace is there to cope with his own matter (he still believes in a certain holiday gift-giver), but he helps the agent come to terms with a bad assumption that led him to insure a motorcycle school with mobile equipment coverage.

Insurance Views
The Power to Fail

Why is it that in a lot of agencies across America, the younger generation of producers, brokers, and CSRs are frustrated? Nationwide, agencies do a good job of attracting talent. It’s the challenge of retaining that talent that keeps most principals scratching their heads.

Online Extras
Divorce, Sales Pitches and Electronic Policies
Agency Valuation and Divorce; Pitch Properly; Judy and the Jerk; Electronic Delivery of Policies; Purely Accidental?

State News

Industry News

Association News

InVEST
InVEST is Now in More Than 200 Classrooms

InVEST, the insurance industry’s premier classroom-to-career education program, recently hit a huge milestone as it surpassed the 200 mark in the number of high schools and community colleges across the country that have embraced its financial literacy and career training program.

Communications
Big “I” CEO Outlines Issues Important to Agents Today
Are you concerned about how the new health care law will impact your agency? Are you wondering about how and where your business will be regulated with a new Congress in place?

Young Agents
Young Professionals Wanted

The 112th Congress is poised to make decisions on legislation that will affect insurance professionals. With one of the largest freshmen classes in Congressional history, Big “I” members need to educate legislators, and young agents are an integral part of relaying the message that protects the future of the industry.

InVEST
Last Call for InVEST Silent Auction Donations

Keep your tab open: The last call for auction items has been extended until Feb. 28, 2011. Don’t miss your chance to donate an item to the hottest event at the LC&C and have your name in front of top movers and shakers of the insurance industry, all while donating to a good cause!

Education
Privacy Laws Webinar Explains Rules and Responsibilities

There have been a number of federal and state laws enacted to protect the non-public personal information being collected by “financial institutions” in the course of doing business. Attend the “It’s No Secret” Privacy Protection Laws webinar on Feb. 17, 2011 at 1:30 p.m. ET.

Communications
Big “I” Lobbyist Featured in the Press on Onerous Provision of New Health Care Law

Charles Symington, Big “I” senior vice president for government affairs, has been in the insurance news recently. His comments on the so-called 1099 provision of the new health care overhaul have been at the forefront in several industry news outlets.

Trusted Choice®
Trusted Choice® to Donate $2,500 to Charity in Honor of 2011 Dan Fulwider Award Winner

The true essence of Trusted Choice® and living the brand is an agency’s involvement in the community. Now is the time to be a part of the elite group of agencies that have received the Dan Fulwider Award for Community Involvement.

Education & Research
2010 Future One Agency Universe Study Available for Purchase

The 2010 Agency Universe Study is one of the most comprehensive analyses of the independent agency system to date. Past findings from the study, the most definitive and exhaustive profile of the agency system, have benefited agencies, companies and others for more than 25 years.

Big “I” News
Big “I” Names New Senior Director of Federal Government Affairs

This week, Jennifer McPhillips was promoted to Big “I” senior director of federal government affairs and will serve as one of the Big “I” Democratic lobbyists on the bipartisan Capitol Hill team.

Big “I” Advantage®
Postcard Marketing Made Easy

Register for the Member Marketing Activity Center (MMAC) to browse more than 80 insurance-specific postcards (in three different sizes) that can be customized for your upcoming mailings with PostcardsNOW.

Big "I" Markets
Your Bond Questions Answered
The Bond program on Big “I” Markets has provided a solution for your fellow agents to solve the bonding needs of their clients without expertise in the coverage.

L-H Leads
Long-Term Care Data Reveals Wide Disparity in Pricing

As public attention continues to focus on the provisions of the CLASS legislation (see related article from last week’s IN&V), according to a study released this week by the American Association for Long Term Care Insurance (AALTCI), comparable LTCi coverage can vary in price by more than 40%.

P-C Trends
Claims-Made and Reported

The last two weeks in IN&V, we have reviewed the allegations and lessons to be learned from the Washington, D.C. area subway system’s suit against mega-broker Aon risk Services, Inc. After those articles, IN&V received inquiries for more information on the fourth lesson highlighted last week: “Beware of claims-made and reported.” To that we say, “Glad you asked!”

On the Hill
Secretary Sebelius Outlines Potential CLASS Act Fixes

In a speech to the Kaiser Family Foundation earlier this week, U.S. Department of Health and Human Services (HHS) Secretary Kathleen Sebelius outlined a series of potential regulatory fixes to address financial concerns with the CLASS Act, a government run voluntary long-term-care insurance program passed as part of the health care law last March.

On the Hill
Republican Governors Send Letter to HHS

On Monday, a group of 21 Republican governors sent a letter to U.S. Health and Human Services (HHS) Secretary Kathleen Sebelius urging her to make specific improvements to the new health exchanges. In the letter, the governors stated that they may not run their own exchanges unless HHS meets their requests.

ACT
Social Media Time-Savers—Part Two

Last week’s issue of IN&V included the first article in this series about social media time savers, and the following is the rest of the discussion overview. Here are two more levels of social media involvement to consider based on the time you want to commit and the goals you set are outlined.

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Communications

Big “I” CEO Outlines Issues Important to Agents Today

New video message guides agents through important issues and laws.

Are you concerned about how the new health care law will impact your agency? Are you wondering how and where your business will be regulated with a new Congress in place? In a new video message, Big “I” president and CEO Bob Rusbuldt tells you how you can help shape the important decisions lawmakers will face that will affect your business every day. Click here to learn more.

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