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Industry News

Trusted Choice^®
Hurricane Press Release Template

In the midst of this year’s hurricane season, independent agents should be discussing preparations and preparedness with their customers. Trusted Choice^® has a new, customizable press release that includes some good tips for consumers to help them better prepare and deal with disaster related claims and issues. Members can also snag free media coverage by sending this drop-in release to local media—newspapers (daily and weekly), business journals or magazines, as well as radio and TV stations. Through positive press coverage, you can raise local consumer awareness of your Trusted Choice^® agency. You will also position your agency as the authority and source for insurance information for the local media. To get started, select a spokesperson to be quoted in the release and to handle interview requests. The spokesperson can be an agency principal or a producer who specializes in personal lines. To access the hurricane tips press release, logo on to the Agents/Brokers section of TrustedChoice.com and got to the Public Relations – Press Release Templates section. (You will need your username and password to access this information. To request yours, e-mail Trusted.Choice@iiaba.net.) Simply save it to your computer and input the name and title of your agency spokesperson where prompted and insert the requested info in the other bracketed areas. These bracketed areas have been bolded for ease of location --- be sure to unbold the areas once you have entered the requested information. For additional information, contact Jenner Gohr at 800-221-7917; jenner.gohr@iiaba.net.

Best Practices
Measure Your Agency’s Performance Against Some of the Best

In order to accurately gauge your agency’s performance in today’s highly competitive and volatile business environment, you need to know what the best agencies are doing to survive and thrive. The Best Practices Study was designed to identify new ways for agencies to grow, increase profitability and stability, perpetuate ownership and operations and enhance viability and value through an analysis of selected Best Practices agencies. The 2008 Best Practices Study Update provides up-to-date benchmarking figures for the 2007 Best Practices Study along with a current analysis of the financial and operating results of these Best Practices agencies. Organized by Best Practices agencies with revenue of less than $250,000 to more than $5,000,000, these studies are easy to use and contain meaningful information for every agency, regardless of size or mix of business.

Through Best Practices, you will learn to develop an agency strategy to sharpen your competitive edge and to assemble an overall agency management plan to maximize your potential, prosperity and profits.  For more information visit www.independentagent.com and select Member Resources, then Best Practices, or e-mail BestPractices@iiaba.net.


Big “I” Markets
You’re Invited to MiddleOak Specialty’s^® Open House

With the new eligibility guidelines, now is a great time to host another open house. Meet your underwriting and sales team next Thursday and take advantage of exclusive time with the decision makers to discuss real accounts instead of typical “hypothetical” risk scenarios. To protect the privacy of your clients, Big “I” Markets will be offering one-on-one time for each agent who signs up.

Join us at 11 a.m. EST, Oct. 2 to get quick answers for risks located in Colorado, Connecticut, Delaware, Georgia, Iowa, Indiana, Illinois, Kentucky, Massachusetts, Maryland, Maine, Michigan, Missouri, North Carolina, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, Vermont, Washington and Wisconsin.

This is your opportunity to participate in engaging conversation about MiddleOak Specialty’s^® Habitational program on Big “I” Markets. Come prepared with prospect account details to discuss. This information will give us enough to qualify the risk and give an indication on pricing. We need the following specifics: physical address, year built, construction type, occupancy, building valuation, number of units and gross square footage.

Don’t miss out on your backstage pass!
Spaces are available in 15 minute increments beginning at 11 a.m. EST and are limited so click here to register today. Be sure to include the time slot you prefer. For questions prior to the conference call, contact Aimee Fawns at 800-221-7917 x5408; aimee.fawns@iiaba.net.

Disclaimer: Accounts discussed during the webinar will require a complete submission into Big “I” Markets and final underwriting approval in order to bind.

Big I Advantage^SM
Company Partners Share Perspective

The recent headlines about the financial markets have many agents and insureds asking questions about their insurance companies. Please click on the links below to read letters from three very important Big “I” Advantage partners.

Letter from RLI president and CEO Jonathan Michael
Letter from Fireman's Fund president and CEO Mike LaRocco
Statement from the Chubb Group of Insurance Companies

If you have any questions regarding Big “I” Advantage^SM company partners, please contact Big “I” Advantage^SM President Paul Buse at paul.buse@iiaba.net.

Big “I” Markets
MiddleOak Specialty^® Expands Appetite

There’s an important update about the habitational product available on Big “I” Markets. Effective immediately, agents can now write a one-unit risk, in most states, as the company has dropped the minimum unit requirement. The minimum premium of $1,500 still applies and the states of Illinois, Massachusetts, Maine, New Hampshire, New York, Rhode Island and Vermont maintain the preexisting minimum unit count as noted on the underwriting and coverage page. MiddleOak Specialty^® is especially effective in serving the student housing niche of the apartment market. Agents in college towns should be able to compete very effectively in the student housing sector via their access to MiddleOak Specialty^®. To learn more about the Worlds Apart^® program, log on to Big "I" Markets and click on the link under the BIM Product Webinar heading that will take you to the webinar library. There you can watch the Worlds Apart^® webinar to learn more about the apartment program.


Big “I” Flood Program
NFIP Extends Deadline Again for Midwest Flood Claims

The Standard Flood Insurance Policy (SFIP) issued under the National Flood Insurance Program (NFIP) provides a period of 60 days from the date of loss within which the policyholder is to send the insurer a signed and sworn proof of loss --- the detailed statement of the claim and a final step toward settlement.

On July 22, NFIP extended 60-day time requirement an additional 60 days, making the deadline Oct. 4 for the June 6, 2008 flooding event that took place in the Midwest states of Illinois, Indiana, Iowa, Missouri and Wisconsin. At the time of the announcement, 6,700 claims had been filed with 34% of the claims already closed, but because of the inability to enter into the flooded areas, the deadline was extended. 

On Sept. 10, NFIP published a notice of additional extension for the June event by an additional 120 days making the new deadline date Feb. 1, 2009 in order to allow policyholders, agents and insurers time to process all claims.

According to Bob Butler, vice president and manager of Selective Insurance – Flood Operations, flood claims personnel and their NFIP certified adjusters were on the ground in the affected areas from the start and have made contact with all flood insureds. Most losses have been inspected and where possible, settlements have been made. To check out Selective’s quality of service during the Midwest floods,   click here. 

Selective Insurance – Flood Operations is the endorsed WYO by the Big “I” Flood Program. For information on the flood program, visit www.indepenentagent.com/flood or contact Linda Mackey, Big “I” Flood program manager, at 800-221-7917; Linda.Mackey@iiaba.net. Big “I” Markets agents may also access the flood program at www.bigimarkets.com for both primary and excess flood.