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IA Magazine

March_10 IA-Magazine

Online Extras
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From the Magazine

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

On the Hill
Rep. Heath Shuler to Address Big “I” Young Agents and InsurPac Leaders

Rep. Heath Shuler (D-N.C.) will address the Annual Young Agents & InsurPac State Chairpersons Legislative Luncheon at the Big “I” Legislative Conference & Convention on Wednesday, April 13 at 12:00 p.m.

IA Magazine
Renew Your Subscription to Independent Agent Now

Time is running out! Independent Agent magazine has the information you need to make your agency more efficient and profitable. In less than two minutes, you can keep IA coming. The best part? It’s on us! Just go to IAmagazine.com now to update your subscription.

Meetings & Events
A True Win-Win Situation

You can’t lose when you’re playing for a good cause! Sign up for the 4/14 poker tournament at the Grand Hyatt Washington during the YAC Gives Back & InVEST Silent Auction event at Big “I” Legislative Conference & Convention. Proceeds benefit InVEST scholarships. A $100 donation is required to participate.

Trusted Choice®
AmFed Joins Trusted Choice®

AmFed National Insurance Company is the newest member of the Trusted Choice® consumer branding program for independent insurance agents and brokers. AmFed, headquartered in Ridgeland, Miss. has joined 59 other leading insurance companies nationwide as a Trusted Choice® company partner.

Young Agents
Don’t Miss Your Chance to Make a Difference

The Big “I” looks forward to seeing lots of young agents at the Big “I” Legislative Conference & Convention. The 112th Congress is poised to make decisions on legislation that will affect insurance professionals.

Education
Make Your Agency More Competitive Through Diversity

Managing diversity today is not what you may think it is. On March 31 at 1:30 p.m. ET join Dr. Elizabeth Holmes for “Not Your Grandfather’s Diversity”, a webinar will give you a new understanding of diversity management, and provide tools to help you create a more diverse and inclusive workplace.

Big “I” News
Insurance Career Center Now on Facebook
InVEST has created a Facebook application to automatically highlight the most recent 25 postings on the Insurance Career Center through social media, increasing your exposure at no additional charge.
Big “I” Markets
Offer Umbrella Protection
A 2010 study conducted by USAA shows that 85%of recent umbrella claims are the result of routine auto-related accidents, including failure to yield (52%), lost control (14%) and rear-enders (11%).

Communications
Big "I" Legislative Priorities in the News

As the Big "I" prepares for its upcoming Legislative Conference &Convention, many of its legislative priorities are in the TV spotlight as top news. Over the last couple of weeks, both the Independent Insurance Agents & Brokers of New York and the Independent Insurance Agents of West Virginia were featured in local newscasts for their involvement in the debate over the formation their states' health insurance exchanges.

Big I Employee Benefits
Looking to Add “LIFE” to Your Agency?

Did we get your attention? We hope so! Big I Employee Benefits has teamed up with LifeSource/Crump Insurance Services to offer members a great solution to add to the bottom line without adding expenses.

Big “I” Markets
Access Travelers Garage Pac

Did you know that you can access the Travelers Garage Pac product? But just what types of exposures does a garagekeepers policy product cover? Here is what the Virtual Risk Consultant (iiaba.net/VRC) summary of garage owner's exposures has to say.

P-C Trends
Flat Screen, Flat Screen on the Wall… Who’s the Biggest Advertiser of All?

With all of the geckos, cavemen, and annoying door-to-door salesmen with old-school telephones floating around, the abundance of insurance advertising is obvious. Then last week, the fantastic level of spending by one insurer made national news.

P-C Trends
Progressive Launches Usage-Based Insurance Program Nationally

The ability for independent agents to offer pay-as-you-drive rates for auto insurance is about to become a reality. Next month, agents in 24 states will be able to sell Progressive’s Snapshot product—and offer drivers a chance to be eligible for a 30% rate discount.

L-H Leads
Customization Scores Another Victory

Have you read this week’s business headlines? Subway restaurant chain officially has more locations worldwide than McDonald’s. Surprisingly and without a lot of fanfare, the sandwich shop surpassed the world’s largest hamburger chain by number of U.S. stores in 2002, and now has outpaced McDonald’s in the number of global locations as well.

On the Hill
Majority Leader Reid Schedules House-Passed 1099 Repeal Bill for Senate Floor Action

Efforts by the Big “I” and other small business groups to repeal the burdensome new 1099 reporting mandate received another big boost this week when Senate Majority Leader Harry Reid (D-Nev.) put the House-passed 1099 repeal bill on the Senate calendar.

On the Hill
Big “I” to Testify Before Congress on National Flood Insurance Program

The Big “I” will testify before the U.S. House of Representatives Committee on Financial Services Subcommittee on Insurance and Housing hearing titled, “Legislative Proposals to Reform the National Flood Insurance Program” on Fri., March 11.

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