DII August 2018 Issue by Independent Insurance Agents of Dallas

DII

DALLAS E INSURANC INSIDER

10 Introduction to 2018-19 President Stephen Pine 12 Thank You to Past President Vince Bell 20 Insurance Employment Service Advertisement 22

2018 IIAD Summer InternÂ

24 Young Agents Update 28 Upcoming IIAD Events 5 7

Presidential Address Executive Address Adviser List Staff Page

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Presidential Address Stephen Pine In Summary: The Officer Installation luncheon was a great day! I saw many old friends and I was very excited to have my family there to celebrate with. In a brief summary of my address, I want to make sure that two main themes are extracted from the address. First, Thank you! My overwhelming theme for this year will circle around the concept of gratitude. Organizations that live and die off the backs of volunteers and donors must always remember the reason for their success. Without you, the IIAD is not what it is today. I cannot thank you enough for all your efforts and monetary support for this great association. In my opinion, the IIAD is the best Insurance Association in the entire country. We have the best leaders, the best staff, the best members, the best volunteers and the best community around us. Thank you for making the IIAD, the BEST! Secondly, don’t be a bystander. Even though we are overwhelmed with the volunteer efforts and support we are given, there are obviously more things to accomplish. I want to encourage you all to step in and realize what this organization is all about. I encourage you to not be someone who watches, someone who says, “I can do that!” “I’d do that better!” “If only they would ask me!” and the list goes on and on. I encourage you to the be the person that says, “I’ll help” “I will do that” “I am willing to step up”. We all have busy lives, this is well known. However, we all have time to give back to something that has blessed us far beyond what we deserve. I am excited about the next 12 months and beyond. I look forward to seeing you at our events and celebrating with all of you as we carry out our mission at IIAD. Thank you for all your support!

Executive Address Tammy Land The Sporting Clays event on September 11th will be busting at the seams…. a 40% increase in the number of shooters over last year’s inaugural event takes us to over 150 participants, plus sponsors and volunteers. The revenue generated from the event is in the spirit of a true fundraiser: raising money for a great cause. Under Vince Bell’s leadership, the board and Scholarship Committee has created a scholarship fund for the benefit of our members with the proceeds of the event. The fund will pay for an up to $5,000/semester for a student (agent dependent or employee) to earn their four-year degree. There is something profound about being able to change a life or lives. We see it in the eyes of the high school students that we interact with through our Invest involvement in their schools when we give them hope of a better future. The excitement a Make-aWish grant and send-off party generate for the child and his family when they are able to put aside an illness for a little bit and enjoy life is so impactful. When we help a member grow their business by making a connection through association events, it is pure joy. IIAD is here to enrich lives and offer our members a community to connect with others, share successes, and help each other achieve goals beyond riches.

Why am I so philosophical today? I’ve recently been asked to be interviewed by a magazine that promotes inspirational stories. My initial thought was, “Why me?” There must be hundreds of others who have better stories of grit and inspiration than mine. The Execs reassured me that I had a great message that needed to be shared. And, it got me thinking about the work that we do at IIAD. I’m so very proud to be associated with the fine people that I greet at our luncheons, or that pour their time and energy into the countless activities that we promote. We do so much to support our industry and our community, and it is something we all need to take stock in and be proud of. But don’t stop there! In Stephen Pine’s inspirational installation speech (excerpt of which is found in this magazine) he encouraged everyone to consider what they could do to get involved with the association. We need new ideas to keep events fresh and engaging, and to offer you the programs that you need. Please consider how you can volunteer, even if you just have an hour here or there. The rewards will well outweigh the sacrifice – I guarantee it!!

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Young Agents Presidental Address Philip Lawson First off, we plan to re-brand our group. The plan is to create a name/brand that will help include more people. We want agents, carrier partners, and outside vendors to be involved in our group. Just because you are not “young” does not mean that you cannot benefit from what our group can provide. With our new re-brand we hope to be more inclusive to the entire IIAD. Secondly, we plan to partner with IIAD to “Tomorrow is the most important thing in life. Comes into us at midnight very clean. It’s perfect when it arrives and it puts itself in our hands. It hopes we’ve learned something from yesterday.” – John Wayne Hello IIAD members! As we look to our 2018/2019 year we have many plans, strategies and goals for our organization! As a team we have had so many meetings going over our group and how we want to improve. This is the time that we plan to begin. With just a few changes we believe our group will be one of the premier Young Insurance Agents groups in the nation. Here are a few of our plans for this year.

cooperatively merge our philanthropic events. The goal of this will be to increase participation. In doing so, we will significantly increase the funds raise and impact made to our community. Last, are working on partnering with local colleges in order to get more college students involved and aware of what our organization does. The goal of this will be to increase the talent pool of young individuals coming out of college for our industry. We are in desperate need of new ideas and energy. We hope to do our part to help! 2018 has been a great year for us and we hope to continue this upward trend all the way through 2019. Thank you very much for your support along the way!

Your time as the IIAD President has come to an end and we just wanted to express our sincerest gratitude for your service. Your service on the Board is the toughest volunteer role, and you took on your Board Member duties with dedication, grace, and seriousness. More than your amazing ability to connect with the members through our annual clay shoot, or your willingness to support every fundraising effort we had, we are most grateful for your active leadership as a judicious steward of our organization. We know that you always carefully deliberated on matters with the board, and multiple committees, even when the decisions were difficult. You are both wise and virtuous, and we are grateful that you shared these qualities with the IIAD Board. We will certainly miss working with you as our President but look forward to working on other projects with you!

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A Solution to Monday Fraudulent WC Claims I’m not a P&C agent, but I work with a lot of you

You all know that regardless of the validity of these

helping to cover your commercial client’s employee

claims, their reporting increases the Workers

benefit needs and boost your incomes through

Compensation Rate Modifier for employers. A

revenue sharing to those that are Group I licensed.

solution to this risk comes from a very inexpensive

There are many very experienced agents, like

($4.00 PEPM) accident policy underwritten by

myself, who are members of the Dallas Association

Boston Mutual. It covers non-occupational

of Health Underwriters, who are ready, willing, and

accidental injuries at first dollar to a very liberal

able to help you with your client’s needs beyond

limit. This policy is similar to voluntary accident

your area of expertise.

plans offered through payroll deduction from

In a meeting with one of my colleagues last week I

carriers like AFLAC, Pam American, Kemper, and

discovered a very unique product in the health

others. The difference is the Boston Mutual plan is

insurance industry that provides a unique risk

employer paid, and as such, avoids the adverse

solution in the P&C industry. Not surprising that

selection that drives up utilization, and hence

25% of Workers Compensation injuries seem to

premiums, for the other carriers mentioned.

happen first thing Monday morning. Also, not

This plan serves three purposes: 1) it decreases

surprising is the majority of these happen in an

potential fraudulent claims that can and will,

area where there is no video surveillance or

increase risk WC risk modifiers, 2) it provides

witnesses. Naturally, claims examiners speculate

financial relief for employees and their families

many of these may be fraudulent and an attempt by

with these risk exposures, and 3) it reduces claims

the claimant to cover an uninsured injury that

utilization for partially self-funded employers who

happened over the weekend in a non-occupation

incorporate this type of coverage and risk transfer

setting. The prevalence of these injuries seems to

mechanism with their non-occupational coverage.

be increasing with the trend of higher deductible

Compare the PEPM cost of a bad modifier to this

medical plans and the, now increasing number of

type of coverage to determine what is best for your

uninsured, with the elimination of the Affordable

commercial client.

Care Act’s Individual Mandate Penalty (1/1/2019).

Safer Workplace. Sweet Rewards.

Rob Golding CEO, Rodeo Austin, dividend recipient for 20 consecutive years

Texas Mutual is celebrating 20 consecutive years of returning dividends to our policyholder owners. And while we’re thrilled to have sent more than $2.5 billion back to companies across Texas, including a record $280 million in 2018, what matters most to us is the same thing that matters to you—protecting the people we serve. At Texas Mutual, we’re helping companies work safer and earn dividends. Because of that, a whole lot of great Texans made it home to their families and that’s the sweetest reward. At Texas Mutual, we’re proud to partner with agents like you who care about safety. Thanks for helping us change the way workers’ comp works for your clients. To learn more, go to worksafetexas.com/sweetrewards. Dividends are based on performance and are not guaranteed. © 2018 Texas Mutual Insurance Company

Â Tammy Land- IIAD Ex Officio: John Losurdo of RSHB Lynsie DeCet of Swingle Collins Vince Bell of Bell Group- Immediate Past President Royce DeRouen of Dexter & Co Stephen Pine of Patterson & Assoc - President Adam Sammons of MHBT Rhonda Cox of CoVerica- President-Elect Jeff Strahan of Americap Ray Deaton of Commercial Ins Sol Kyle Dixon of Boyd, Shakelford, Barnett John Stollenwerck of Ragland, Strother, Lafitte Charles Lipscomb of Lipscomb Ins (Not pictured) Drew Brown of TexCap Ins- Secretary/Treasurer

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Rated A- Excellent by

President: Tammy Land of IIAD Secretary/Treasurer: Drew Brown of TexCap Ins Directors: Josh Gilbert of K&S Darleen Madden of Holmes and Murphy Kyle Dixon of Boyd Shakelford, Barnett Collin Brence of Swingle Collins Rustin Goodgion of Patterson & Associates

President: Phillip Lawson of Patterson Â Assoc VP: Dan Hartlieb of Holmes & Murphy Treasurer: Sam Best of Patterson & Assoc Social: Amber Hardin of CPRO Ryan Levy of Risk Transfer Partners and Christine Lehman of Berkshire Hathaway InVEST/Education: Wayne Usie of RT Specialty Jose Flores of AIG Philanthropy: Sam Best of Patterson & Assoc Alexia Riddick of Chubb Morgan Wade of Chubb Membership- Nicole Peer of TexCap

Every year, thanks to the Mayor Internship Fellow

Here I was able to hear about how different everyone’s

Program, IIAD welcomes a high school student for a

experiences were and the many things they were

summer internship. This year we were blessed to find

learning in their internship. By visiting the different

Briana Torres, a senior from Woodrow Wilson High

insurance firms, I was able to experience what makes

School!

every firm different from one another. It was an

Over the course of her internship, she learned all about

amazing experience because I was able to meet so many

the insurance industry and how IIAD helps each of our

great people. I loved hearing how they got into

members. She visited interns from different members,

insurance and their experiences. I was also given the

in different parts of the industry. For example, Briana

opportunity to sit and talk with some of the employees

learned from Patterson about the Agency contribution to from the firms. They also talked more about how they insurance, and Allrisk Interns showed her the

got into insurance and what they love about what they

wholesale side.

do. It inspired me, even more, to go into insurance, because they’re so many amazing things about the

Here's what Briana thought about her experience:

industry.

" Being part of the mayor’s internship fellow program

This internship not only inspired me to pursue

for the second year in a row gave me the amazing

insurance, but it taught me skills that I will need to help

opportunity to be able to intern for the Independent

me in the future. One of the majors being how I was able

Insurance Agents of Dallas. I was very excited to work

to improve my communication skills and time

here because I am currently taking Finance courses in

management skills, which will help me in my upcoming

high school and completed multiple Insurance courses

senior year. These skills will help me the most when I’m

last year. During these classes we had lots of different

commanding the JROTC Unarmed Drill Team. The

guest speakers come to talk to us about their job and

communication skills will help me communicate better

how it relates to insurance. They all really caught my

with the team members throughout the year about

attention because of how many different options you can

competitions and while running practice. The time

have when going into the insurance field. We also took

management skills will help me the most since I will be

field trips to many different insurance firms which

juggling two drill teams at my school and working

exposed us further in insurance and how much actually

throughout the school year. I will be able to make sure

goes into all the policy processes.

my work will not affect with my practices and school

With this internship, I was exposed to real life

work. Another skill I was able to improve was my

insurance problems, the different aspects of the

computer skills, thanks to the projects I was able to

industry and how everything ties together. It really

work on here. My favorite was being able to help make

opened my eyes to the many different options of fields I

the weekly newsletters. Overall, I’m so thankful that I

could consider when thinking about going into

was given this opportunity to be the 2018 intern for

Insurance in the future. For instance, for one of my

IIAD. I’ve had a very amazing experience here, and I

projects, I went to different insurance firms to interview

have learned skills that will benefit me a lot in the

their interns.

future. It has given me a huge interest to join the Insurance field.

Click here to view one of her projects!

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2018 Legislative Luncheon

September 19, 2018

CE 8-11am:

Cyber Boot Camp- INSUREtrust Cyber Security and Cyber Liability

Luncheon 11-1pm: Legislative Update fromÂ Lee Loftis of IIAT!

Sponsored by:

Every year IIAD host a CSR appreciation luncheon. Any CSR, as well as Account Managers, can attend the luncheon for free. Our goal is for every CSR attending the luncheon to receive a small token of appreciation (gift card, small gifts, etc..).

Donate a small gift ($25 minimum) to present at our CSR Appreciation Luncheon October 17th. When donating you will have the opportunity to present your gift, as well as draw the name, to the winning CSR. Contact Noemi@iiadallas.org to let us know what you can contribute!

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Employees and Cybersecurity Risks— Why Negligence Is the Biggest Threat So much effort has been put into educating people about

External Vendors Are a Significant Factor in Data Breaches

hackers, viruses, ransomware, and other cybersecurity threats

The report also shows that 25% of executives and 20% of small

and a key component of the problem has been largely

business owners pointed to external vendors as being the cause of

overlooked—employee negligence. In fact, a recent report from

data breaches. This is largely due to the victimized company

IT security firm Shred-it has revealed the number one cause of

failing to adequately manage access given to vendors.

data breaches is human error. Usually, these data breaches are

There are several takeaways and suggestions stemming from this

accidental and are the result of an employee losing a mobile

report. These include:

device or document containing passwords or sensitive

-Create a comprehensive policy to cover everything from

information. In fact, the study revealed that 47% of surveyed

cybersecurity to physical security;

businesses, including more than 1,000 U.S. small businesses and

-Conduct multiple training sessions as it is impossible to

executives, had suffered a breach in this fashion.

assume that a one time (or annual) training session will solve all

The Cost of Data Breaches to Business

-Institute a clean desk policy so that all documents are secured,

data breach problems; A 2018 report revealed that such data breaches cost companies

and old documents are properly shredded when no longer

an average of $3.9 million. This could be cataclysmic for a small

needed;

business. Besides the potential for lost revenues from the

-Properly dispose of old hard-drives and flash drives;

breach or from potential exposure to ransomware, the hack

-Create a remote access policy to extend cybersecurity outside

could also damage a business’ credibility with consumers. The

the workplace;

latter could actually hurt a business more in the long-term.

-Designate a chain of command for whom an employee should

Employees Cyber Bad Habits

Because employee training is key to reducing cyber threats, we’ve

The study goes on to point out there are several bad habits employees perform that can lead to these data breaches. These include: -Computers left unlocked and/or unattended; -Taking down notes on paper and then leaving those papers out on your desk; and -Working from home or in public on an unsecured Wi-Fi connection. This last habit is especially troubling since many experts agree that remote work is such a growing trend that it is probably the future of the business world. Unfortunately, many companies do not have a policy in place for remote access. (If you would like to review our IT Security Policy Guide, which covers a variety of security best practices, please contact us.)

call in the event they misplace a document or device. partnered with a top-notch content provider. Contact us for information on how to affordably train your employees. The report points out that most of these examples aren’t meant to be malicious, but instead are accidental in nature. It is important to create a policy to prevent these types of accidental breaches from occurring.

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ALL YOU NEED IS LOVE THE IIAD STAFF

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