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IA Magazine

February_02 Big-I-Employee-Benefits

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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

On the Hill
Rep. Aaron Schock to Address Big “I” Young Agents, InsurPac Leadership

Rep. Aaron Schock (R-Ill.) will address the Annual Young Agents & InsurPac State Chairpersons Legislative Luncheon at the Big “I” Legislative Conference & Convention on Wednesday, April 25 at 12 p.m. in Washington, D.C.

Best Practices
Webinar Explains Strategies for Hiring, Developing Top Producers

There are few topics more critical to the longevity and profitability of a sales organization than a continuous source of fresh talent and energy, which can increase an agency’s bottom line and build its future success. Successful sales organizations hire talented salespeople and recruit proactively.

Trusted Choice®
BCIC Joins Trusted Choice®

Broome Co-operative Insurance Company (BCIC) is the newest member of the Trusted Choice® consumer branding program for independent insurance agents and brokers. BCIC, headquartered in Vestal, N.Y., has joined 64 other leading insurance companies nationwide as a Trusted Choice company partner.

Big “I” Professional Liability
Big “I,” Swiss Re Corporate Solutions Launch New Web Resource

The Big “I” Professional Liability Program and Swiss Re Corporate Solutions recently launched a new and improved risk management website, E&O Happens, available exclusively to agency E&O Swiss Re Corporate Solutions policyholders.

Big “I” Flood
Communities Scheduled for Possible Suspension from NFIP

In the past few weeks, the Federal Emergency Management Agency has published final rules in the Federal Register identifying participating National Flood Insurance Program (NFIP) communities in various states subject to suspension from eligibility in the program.

InVEST
InVEST Participates in National Job Shadow Day

InVEST, an insurance classroom-to-career education program, is actively supporting efforts across the country for members of the independent agency system to participate in National Job Shadow Day. Numerous InVEST students, agents, brokers, company leaders and other industry leaders are participating today.

Big “I” Markets
Agent Achieves Success with Event Cancellation Policy

Big “I” Markets agent Lisa Harris from the High Desert Risk Managers agency in Scottsdale, Ariz., recently used Big "I" Markets to bind an EXPO-Plus event cancellation policy that insured an equine organization for more than $5,000 in premium.

Trusted Choice®
Your “Likes” Granted Wishes: Shawnee’s Wish

Seventeen-year-old Shawnee is one of 11 children whose wishes came true with a $171,590-donation from last summer's Trusted Choice® campaign with the Make-A-Wish Foundation®. The foundation grants the wishes of children with life-threatening medical conditions to help provide hope, strength and joy.

Trusted Choice®
Volunteering in the Community?

Trusted Choice® has established an annual award to recognize an agency’s volunteerism and donate $2,500 to a charity of the winning agency’s choice. The award is in honor of Dan Fulwider, a member, Trusted Choice supporter and community volunteer who passed away in 2009 after a valiant fight with cancer.

Big “I” Employee Benefits
Crump Life Website Tour Set for Feb. 16

Crumplifeinsurance.com is one of the most comprehensive websites in the industry, putting valuable tools and resources at your fingertips. What good is having a user ID and password if you don’t know how to use the site effectively?

Big “I” Markets
Mobile Food Truck Market Available

New insurance opportunities can be found in the growing food truck market. Members now have access to one of the only mobile food markets in the country through Big "I "Markets, regardless of the type of mobile food vending operation—whether it's one unit or a fleet of vehicles.

Big “I” Markets
Restaurant Markets Available
While mobile food vendors are a relatively new insurance market, don't forget about all the other restaurant niches members can serve great coverage to with either Travelers or Fireman's Fund.

P-C Trends
P-C Insurer Impairments Increase

The number of insurers in financial trouble rose in 2011, according to a recent A.M. Best Company summary of p-c impairments from that year. The data shows a concentration of impairments in the southern U.S., but impairments were spread from the Southeast to California to Vermont, with states such as Missouri scattered in between.

On the Hill
Senators Landrieu, Isakson to File MLR Legislation

Efforts by the Big “I” to combat the harmful effects of the Medical Loss Ratio (MLR) regulations on agents and consumers are expected to receive a boost this week when Sens. Mary Landrieu (D-La.) and Johnny Isakson (R-Ga.) officially introduce the Access to Professional Health Insurance Advisors Act of 2012 in the U.S. Senate.

Forms & Substance
Applying the Rodent Exclusion

Can an insurance company deny a homeowners policy claim because of damage caused by a squirrel? There's no more fitting of a time than Groundhog Day to learn about how rodent damage is treated by homeowners coverages.

On the Hill
House Passes CLASS Act Repeal

A bill authored by Rep. Charles Boustany (R- La.) to remove the Community Living Assistance Services and Supports (CLASS) Act from the books passed the U.S. House of Representatives yesterday. H.R. 1173, the Fiscal Responsibility and Retirement Security Act of 2011, would enact a clean repeal of this government-run, long-term care entitlement program.

L-H Leads
When Clients Procrastinate

Any agent who offers life insurance has likely had a client who said he wouldn’t buy it because he would be betting against himself. The best response is to note that providing for one’s personal commitments in the event of premature death is not betting against him, but rather allowing satisfaction and peace of mind that is achieved by having one’s affairs in order.

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Big “I” Employee Benefits

Crump Life Website Tour Set for Feb. 16

Join Crump for an overview of this essential company partner’s site.

Join Crump for an in depth tour of the website including; how you can get real time status on your cases, effectively utilize quoting engines and download forms. Crump will also show you how to navigate the many other resources and tools that can help make your insurance business thrive. Crump thinks you’ll agree this tour is an hour well spent!

Thursday, Feb. 16

2 p.m. EST

Title: Crump Presents: A One Hour Website Tour

Host: Anne Rockwell, Supervisor, Sales Support

Click here to register.

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