T H U R S D A Y ,   M A R C H  2 6 ,   2 0 0 9

 Industry News

IIABA News
Top Insurance Leaders to Address Big “I” Legislative Conference & Convention

The Big “I” has announced the Young Agents Breakfast & Presidents' Panel with Big "I" leadership at the Big “I” Legislative Conference & Convention.

Panelists:
               
• Brett Nilsson, Big “I” chairman
• Jim Clay, president, Westfield Insurance
• Scott Goodby, president of Regional Companies Group Liberty Mutual Agency Markets
• John Hennessy, senior vice president of distribution management, CNA
• Harold Morrison, executive vice president and chief global field officer, Chubb Group of Insurance Companies

“The Big ‘I’ National Young Agents Committee (YAC) encourages young agents – those younger than 40 years old or with less than five years experience in the industry – to network, learn and get involved at all levels of the independent agency system,” says Robert Rusbuldt, Big “I” president & CEO. “We are honored to have such a distinguished panel address our Young Agents and look forward to a healthy discussion on a multitude of issues.”

The panel is expected to hear and participate in a discussion of some of the most important issues pressing independent insurance agents and the industry including: the state of the national economy, the economic challenges facing insurance carriers and the industry, the property-casualty insurance cycle, technology, the need for new talent in the industry, insurance regulatory reform and other challenges and opportunities facing the independent agency system. This event is open to all Young Agent attendees.

The annual Big “I” Legislative Conference & Convention is the industry’s best-attended, most effective legislative event of its kind. The events will take place April 29 through May 1 at the Marriott Wardman Park Hotel in Washington, D.C.

Additional highlights of the event include in-depth issues briefing sessions, a panel discussion with top insurance carrier CEOs, a state of the association address by Big “I” Chairman Brett Nilsson, a speech by Freakonomics author Stephen Dubner, appearances by numerous high-profile industry speakers and meetings on Capitol Hill between Big “I” agents and brokers and representatives in the Congress.
For registration and hotel information, go to www.independentagent.com and select the “Events and Conferences” link.


IIABA News
Chief Deputy Minority Whip McCarthy to Address Big “I” Young Agents and InsurPac Leadership Luncheon

The Big “I” recently announced that Rep. Kevin McCarthy (R-Calif.) will address the Annual Young Agents & InsurPac State Chairpersons Legislative Luncheon at the Big “I” Legislative Conference & Convention.

The event will be held on April 29 at 12 p.m. and will also feature the presentation of the annual InsurPac National Championship, Young Agent of the Year and Eagle awards.

“Rep. McCarthy is a respected leader in Congress with a proven record on issues important to independent insurance agents and brokers,” says Charles Symington, Jr., Big “I” senior vice president for government affairs. “The Big ‘I’ is honored that Rep. McCarthy, a rising star in Congress, will be addressing our Young Agents and InsurPac leadership teams.”

Rep. McCarthy also serves on the powerful House Financial Services Committee, which oversees the insurance industry. Prior to his election to Congress, Rep. McCarthy was a small business owner and served as the top Republican in the California Assembly. He is in his second term and represents the 22nd district which includes most of Kern and San Luis Obispo Counties, and northeastern Los Angeles County.
 
“Big ‘I’ Young Agents are the next generation of independent agency system leaders and InsurPac is the largest property-casualty political action committee,” says Robert Rusbuldt, Big “I” president & CEO. “These two forces are among the most influential in the industry and will greatly benefit from Rep. McCarthy’s presentation. We look forward to continuing our efforts to build involvement in and activism for legislative issues vital to the future of our industry.”


Big "I" Professional Liability
Swiss Re Among Fortune's Most Admired Companies

For more than two decades the Big "I" has partnered with Swiss Re to bring E&O insurance to Big “I” members. Now the provider of the largest and most stable insurance agents E&O program in the nation has been named one of Fortune's Most Admired Companies. Click here to view the article. 

The Big “I” Professional Liability Program offers not just a policy, but a comprehensive program for insurance agents. Learn more about the Big "I" and Swiss Re's partnership at www.independentagent.com/EOContact.


InsurBanc
CD Ladders Offered

InsurBanc is acutely aware of the impact of today’s economy on the independent insurance agency’s finances. InsurBanc also has a clear understanding of agencies’ unique cash flow needs. That’s why the bank has combined competitively priced, FDIC-insured savings products with maturity options to help keep your agency running profitably.

Matching Maturity CDs
An InsurBanc Matching Maturity CD means you can match the maturity date based on your financial priorities. Whether your agency needs the money next month or 12 months from now, you choose the term that fits your liquidity needs while earning a competitive interest rate.

InsurBanc is acutely aware of the impact of today’s economy on the independent insurance agency’s finances. InsurBanc also has a clear understanding of agencies’ unique cash flow needs. That’s why the bank has combined competitively priced, FDIC-insured savings products with maturity options to help keep your agency running profitably.

CD Ladders
If multiple maturity dates are a better fit, we offer InsurBanc CD ladders. Rather than investing in a single term CD, a CD ladder allows you to distribute your money over different maturities and receive a blended rate of return on your investments. You will benefit from higher interest rates on longer maturities while retaining short-term liquidity and multiple re-investment opportunities.

Personalized for Your Agency
To take advantage of the freedom to manage your money and have it available to your agency when you need it, contact InsurBanc today. To receive a CD proposal customized for your agency, call 1-866-467-2262 and identify yourself as a Big “I” member.

Minimum required for CD ladder proposals: $100,000. Member FDIC.


ACT
Real Time, Explained

Independent agencies are deriving major benefits from implementing Real Time and Commercial and Personal Lines Download, and Big “I” members are encouraged to attend a special one-hour webinar by the Real Time/Download Campaign on April 1 from 1:30-2:30 p.m. EST. The webinar will also be offered on May 6 at the same time.

The webinar, entitled “Real Time: The Next Major Advance in Agency Workflow,” will be led by Lisa Parry Becker and Cyndy Smith, co-chairs of the Real Time/Download Campaign. Cal Durland of AUGIE and Jeff Yates of ACT will also participate. The webinar will explain and demonstrate Real Time and explain its benefits. 

There is no charge for Big “I” members to attend the webinars. After you log on to the Internet session, you will be able to listen to the audio through your computer headset or speakers. If you would prefer, you will also be provided with a toll-free number you can call to listen to the audio.

To register for the April 1 session of the webinar, click here. To register for the May 6 session of the webinar, click here.

After registering, you will receive a confirmation e-mail containing information about joining the webinar.


Big “I” Markets
Vacant Property Market Available

As the economy continues to sputter, the number of vacant homes continues to increase. Don't forget that Big “I” members have access to two vacant home products through Big “I” Markets:

• Vacant Property Program Admitted: Currently in the states of Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island and Vermont offered by MiddleOak Specialty.

• Vacant Dwelling Non-Standard: The excess & surplus market is available in all 50 states, via Lexington. Members in North Carolina and New Mexico have access to this program if they are licensed in E&S lines and provide a written statement, along with a copy of the license, agreeing to file taxes according to their DOI regulations.

Learn more about this and other markets by logging into www.bigimarkets.com with your Big “I” username and password. Please note that you do not need to be registered for Big “I” Markets to browse available products in your state. Please contact the Big “I” Markets team with any questions at bigimarkets@iiaba.net. 

Big “I” Markets
Member Agent Achieves Success with Habitational Market

It was a long winter in Covington, Tenn. So long, in fact, that agent Bill McGowan couldn't get outside to play any golf. So what did he do to pass the time?

"Out of boredom I figured I might as well read through all the free insurance magazines I get," says McGowan, president of the McGowan & Company agency. "After reading about the habitational condominium market in the Big “I” Advantage Newsletter, I figured I'd give the market a try. I had brokered a local condominium complex to another agent, but I figured why should he keep most of the commission? So I sent in a quote to Big 'I' Markets."

The result was a $11,900 premium sale for McGowan, and he provided the insured with a better policy, especially with regards to the loss of income provisions. It was also the first time McGowan used Big "I" Markets, but it won't be the last. He says he is already planning on moving another piece of business on a large apartment complex come September.

You can follow McGowan's lead and go after apartments and condominiums in your community. To learn more about those markets, log on to to Big "I" Markets and click on the webinar library (under "publications"). Once in, you can watch the World's Apart habitational webinar and/or the student housing habitational webinar, and learn from the underwriters how to market the MiddleOak product advantage. Access these resources at www.bigimarkets.com.


Big “I” Advantage
Eagle Agency Offers Access to Travelers Commercial Lines

Many Big “I” members have heard about Eagle Agency, the Big “I” general agency created to provide market access to members newer to the industry and in need of markets. But not everyone has heard about the expansion of Eagle to include Travelers commercial lines, which may be of keen interest to more established agency members. Click here to access a state availability chart and visit www.independentagent.com/Eagle for full information on the expansion of the member benefit program. Questions may be directed to eagleagency@iiaba.net.