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IA Magazine

January_26 InVEST

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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

Communications
Big “I” President & CEO Is in Media Spotlight

The race for the White House has intensified, and the political pundits are on the TV newscasts daily. One of the experts offering his insights and wisdom is Bob Rusbuldt, Big “I” president & CEO.

Best Practices
Create a Sales Culture Among Service Staff

In any organization, a good sales force is the lifeblood and critical component on the path to profit. Service staff, typically non-commissioned employees, are responsible for providing service to the agency’s clients and supporting producers in the sale of new business and the retention of existing business.

Big “I” Markets
Alarm Contractors Market Poised for Growth

The home security business is thriving, and with it is the need for alarm contractors to be properly insured. The Hartford alarm contractors program may be a great fit for clients who are in this line of work.

InVEST
InVEST Play Clock Is Winding Down

Ever wish there was more time left on the clock? The Ravens and the 49ers sure did on Sunday. Make sure your team doesn’t run out of time to donate to the InVEST Silent Auction, which will be held during the Legislative Conference & Convention at YAC Gives Back on April 26 in Washington, D.C.

Big “I” Employee Benefits
Crump to Give Tour of Website

Crumplifeinsurance.com is one of the most comprehensive websites in the industry, providing valuable tools and resources. But what good is it to have login information for the website without knowing how to use the site effectively?

InVEST
InVEST Introduces New Board Member
Jeremy Chaseley, CNA assistant vice president, producer and product development, has joined the national board of InVEST, an insurance classroom-to-career education program.

Big “I” Markets
Mississippi Agency Binds 33-Foot Yacht

Big “I” Markets congratulates agent Nene Gorrell of the Swoop Insurance Agency in Columbus, Miss., who just had a binder for a 33-foot Sea Ray 300 Sundancer Yacht. She bound it with ACE Recreational Marine, which is part of the expanded marine markets available on BIM.

On the Hill
Bill to Exclude Agent Commissions from MLR Formula to be Introduced in U.S. Senate

This week, Senators Mary Landrieu (D-La.) and Johnny Isakson (R-Ga.) indicated plans to introduce legislation that would exclude agent commissions from the Medical Loss Ratio (MLR) regulations. Since the MLR regulations took effect last year as a part of the Patient Protection and Affordable Care Act (PPACA), producers across the country have seen dramatic cuts in their health insurance commissions.

P-C Trends
Tornadoes Whip through Central Alabama

This week’s tornadoes in central Alabama came on the heels of a record-breaking year for catastrophes in the United States. Ten tornadoes touched down Monday in several counties, including north of downtown Birmingham in Jefferson County where two people were reported dead, says Alison Ray, director of communications and member services for the Alabama Independent Insurance Agents.

L-H Leads
Determining a Fair Income Tax Code

The Republican presidential debates certainly have made for some interesting viewing and sound bites for viewers, regardless of their politics. The past three debates have centered not on national security or the European debt crisis—or the U.S. deficits for that matter—but on the fairness of the income tax code and appropriate tax rates for Americans.

On the Hill
Big “I” to Host Political Panel Featuring Fred Barnes, Mort Kondracke
Veteran journalists and political commentators Fred Barnes and Mort Kondracke will headline the political panel at the Big “I”'s annual Legislative Conference & Convention this spring.

P-C Trends
Viewpoint: Sound Advice Never Ages

I recently received a 1940s insurance advertisement from a colleague, and its message still applies to independent insurance agents today. The advertisement is from a fraternal Wisconsin insurer, Catholic Knights of Wisconsin—now Catholic Financial Life—and it makes an important and timeless point of which no agent should ever lose sight.

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InVEST

InVEST Play Clock Is Winding Down

Deadline to donate to the InVEST Silent Auction is Feb. 17.

Ever wish there was more time left on the clock? The Ravens and the 49ers sure did on Sunday.

Make sure your team doesn’t make the same mistake and run out of time to position yourself correctly by donating to the silent auction and securing a spot in InVEST’s Super Bowl, the InVEST Silent Auction, held during the Legislative Conference & Convention at YAC Gives Back on April 26 in Washington, D.C.

If one thing can be learned from both games this past Sunday, don’t wait until the last minute to make a winning contribution—now is the time to step up and donate a touchdownworthy item to the 2012 InVEST Silent Auction.

The deadline is Feb. 17. Donations can be made here.

100% of contributions is tax deductible and proceeds provide scholarships for InVEST students pursuing insurance education or careers. For more information on the silent auction or InVEST, contact Jennifer Robinson (jennifer.robinson@iiaba.net), call 800-221-7917 or visit www.investprogram.org.

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