Kentucky Independent Agent

1046 Louisville, KY

13265 O’Bannon Station Way Louisville, KY 40223

MAY

JUNE 2012

Meet 2012 IIAK Chair Tim Conder

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Inside: Highlights of the Sales and YAC Leadership Convention

Mining.

Atomic Energy.

Dating a Co-worker.

There are some workplace risks we just don’t cover.

At KESA, we’re all about promoting safety and health in the workplace. And while we offer a wide range of coverage, there are a few things we just won’t touch.

To find out why so many independent agents depend on us, call 800-367-5372 or visit KESA.org.

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THE KENTUCKY INDEPENDENT AGENT is the official magazine of Independent Insurance Agents of Kentucky, and is published bi-monthly. Editorial offices are located at 13265 O’Bannon Station Way, Louisville, Kentucky 40223, telephone (502) 245-5432; Toll Free # (866) 426-4425; E-mail IIAK@iiak.org; FAX (502) 245-5750.

Officers Tim Conder Chair, Louisville (502) 459-7500 William S. Latta Chair-Elect, Henderson (270) 827-3543 John Funkhouser, CIC, CWCA Vice Chair, Danville (859) 236-5922 James D. England, AAI Treasurer, Pikeville (606) 437-7361

ON THE COVER

Stephen R. Kinkade, CPCU, AAI National Director, Leitchfield (270) 259-5465

Meet your IIAK Chair for 2011-2012, Tim Conder.

Read more on page 12.

Phillip D. Hunt, CIC Immediate Past Chair, Prestonsburg (606) 886-2318

Directors Diana G. Hunt, CIC Barbourville, (606) 546-4132

FEATURES

John L. Ison West Liberty, (606) 743-4472

Mandatory Motor Vehicle Insurance Notices Begin Statewide in June ..5

David M. Houk Horse Cave, (270) 286-2724

Motorcycle Policies Not Just an Easy Rider..................................8

Michelle L. Love Owensboro, (270) 926-2806

Cover Story: Hard Work Pays - Meet IIAK Chair Tim Conder.........12

Lloyd M. Stafford Lexington, (859) 253-1371 Chip Atkins Louisville, (502) 585-3600 Jason D. Billington, CIC Murray, (270) 753-4751 Michael G. Johnson, CIC Lexington, (859) 233-1461 Virginia D. Goff, CISR, CLCS, CWCA Louisville, (502) 895-5665

Staff Peggy P. Porter President/CEO

Economy and Election Take Front and Center at National Legislative Conference................................................18 Project CAP Urges Independent Agents to Join the Cause to Recapture Market Share.....................................................23 YAC Sales & Leadership Conference Highlights ..........................26 Supreme Court Reviews Affordable Care Act .............................29

Kristie Weyer Insurance Services Manager Joy E. Holder Membership Manager Arlene Adonis-Hawkins Director of Communications Donna Boatright Executive Assistant

DEPARTMENTS From the Chair ........................................................................4

Megan Granger Member Services Director

Classified Ads ..........................................................................6

The Kentucky Independent Agent welcomes all advertising and editorial submissions. Inquiries for advertising, news releases and editorial contributions can be directed to:

Trusted Choice: Does Brand Matter? .......................................15

Arlene Adonis-Hawkins P.O. Box 436689 Louisville, Kentucky 40253-6689 Ph: (502) 245-5432 Fax: (502) 245-5750 Email: aadonishawkins@iiak.org

Education & Events Calendar ...................................................16

Mission Statement

Welcome New Members.........................................................29

The mission of the Independent Insurance Agents of Kentucky, working in the public’s best interest, is to be the preeminent advocate for Kentucky Independent Insurance Agents and support their business and professional development needs.

Industry Partners ...................................................................26

People In The News ................................................................30 This publication is intended to provide accurate and authoritative information on the subject matter covered and is distributed with the understanding that neither IIAK, nor any contributing author or publisher is rendering legal, accounting or other professional services and assume no liability whatsoever in connection with its use. The opinions expressed in the articles are those of the authors and does not necessarily reflect those of IIAK.

3

FROM THE Chair

Well, by the time you read this, it will

Tim Conder

paid.

be summer. What will this season bring? I

Are clients 100% satisfied, all the time?

certainly hope no more reminders of why

Do they thank us for being there? Are they

we really are in business. If someone else

appreciative of the HO5 over the HO3? Of

says the word HAIL to me, I think I’ll run

course not. But, I think the appreciation is

away screaming like a newborn. That’s the

shown in the best ways of all. They renew

reality. The truth is, bring it on. This is at

with us, they tell their friends, coworkers

the core of why we exist. Neither the lizard,

and family, they call us, and we increase

the air head nor any of the other 800

our client base. Deep down inside, we feel

providers, are going to take the time to

the pride, we give ourselves the atta-boy,

council, explain and hold hands with the

we know that we “did good.”

2011 - 2012 IIAK Chair thousands of clients we touch during a catastrophe like this. Explaining ACV versus

months, when property prices have to rise

RCE, deductible differences, why the guy

to pay for claims, to restore reserves. The

down the street got a new roof and yours

phone will ring again, and the client who

was untouched.

loved us 6 months ago will be chewing us

It’s times like these, like the recent

out because his Homeowners premium

tornados that affected several areas of

went up 12%. The storm from without

Kentucky, especially West Liberty, that give

becomes the storm from within. The circle

independent agents the opportunity to shine.

of life is complete, we are back to defending

The chance to prove that, it’s not a

our noble profession.

commodity, it’s a promise; and we are

Thank the Lord that the stifling humidity

delivering on that promise. To show that

of August in Kentucky can cause no property

when we advise a purchase of one policy

damage, or can it??

or endorsement, over another, we really do know what we’re talking about. A chance to truly earn the commission dollars we get

4

Our next test will come in the following

As I write this, my term is half over, where has the time gone?

Regulation

Mandatory Motor Vehicle Insurance Notices to Begin Statewide in June Uninsured motorists risk cancellation of registrations

As mandated by the Kentucky Legislature, uninsured motorists across the Commonwealth will begin receiving notices in June that registrations for their personal vehicles will be canceled if they do not obtain required insurance or show proof of existing insurance.

Registered owners of personal vehicles shown to have been without insurance for more than 60 days will receive the notices.

Not just customers.

Relationships.

Every commercial insurance company wants to build its customer base, increase retention and inspire loyalty.

We do, too.

But at FCCI, we focus on getting to know our customers.

Because the more we know, the more we can help you protect business, property and people.

And that’s what we do best.

The owners will have 30 days in which to obtain or present verification of coverage.

“It is against the law in Kentucky to operate a motor vehicle without insurance,” said Commissioner Sharon P. Clark, of the Kentucky Department of Insurance. “Vehicle owners who abide by the law are too often victimized in crashes involving uninsured drivers. The Legislature recognized that this was unfair and mandated this new enforcement initiative.”

The mandatory insurance initiative is aimed at plugging an enforcement gap that enables drivers to skirt the law by dropping coverage once their vehicles have been registered. It will be administered by the Department of Vehicle Regulation, of the Kentucky Transportation Cabinet.

Though simple in concept, the mandatory insurance initiative required extensive technology and testing. Working together, the Department of Insurance, of the Public Protection Cabinet, and the Department of Vehicle Regulation, of the Kentucky Transportation Cabinet, conducted a pilot enforcement program that grew to include eight Kentucky counties - Anderson, Ballard, Boyd, Bullitt, Christian, Laurel, Pike and Pulaski.

Each month, insurance companies licensed to do business in Kentucky submit to the Department of Vehicle Regulation the vehicle identification numbers (VIN) of the vehicles their policies insure. A database compares the VINs with those of vehicles registered to Kentucky owners.

Vehicles for which there is no corresponding personal insurance policy are identified, and owners are notified that if they do not obtain insurance or provide proof of insurance within 30 days, their Kentucky registration will be canceled without further notice.

Based on results of the eight-county pilot program, the two Departments estimate that 30,000 to 35,000 uninsured notices will be issued each month. Each notice will identify the vehicle in question by make, model, license plate number and VIN. A notice will be issued only once per individual case.

If a notice has been generated in apparent error - such as in cases of a mismatched VIN

800-226-3224 www.fcci-group.com

5

or a commercial vehicle erroneously listed as a personal vehicle - the notice instructs the owner to contact the county clerk or the Division of Motor Vehicle Licensing to get the matter resolved. However, owners who fail to take necessary action will be subject to citation for driving without valid registration.

“It is vitally important that vehicle owners who receive an uninsured notice follow the instructions on the notice and contact their county clerk or the Division of Motor Vehicle Licensing,” said Tom Zawacki, Commissioner of the Department of Vehicle Regulation.

“They may also have to contact their insurance company, but that should not be the first step. They must take action. The notice cannot be ignored.”

The Transportation Cabinet has a wealth of information about the Mandatory Insurance initiative on its website: http://transportation.ky.gov/MandatoryInsurance/Pages/default.aspx.

Agents can also find information on the Mandatory Insurance initiative at the Kentucky Department of Insurance website by visiting http://insurance.ky.gov/.

Classified Ads Acquisitions Established Louisville agency interested in acquiring insurance

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Commercial lines & personal lines wanted in Louisville, Lexington,

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Thompson, CPCU, at Sterling G. Thompson, Co. at (502) 585-3277.

growing an agency or book of business. Confidentiality provided to all interested parties. Call Scott Ferguson at The Underwriters

Looking for

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possible, in strict confidence. Please send inquiries to Turner

produced. Confidentiality provided to all interested parties. Contact

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Glenn Pike at 502-473-5454 or glenn@louisvilleins.com.

or call Kurt Turner, CPCU at (502) 633-6060.

To place a classified ad please contact Arlene Adonis-Hawkins at aadonishawkins@iiak.org or (502) 245-5432.

6

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7

ERRORS & Omissions

No matter what you attribute it to movies such as “Easy Rider” and “The Wild One,” baby boomers in midlife crisis or gas prices - motorcycles are accelerating in popularity. The Motorcycle Industry Council says motorcycle sales for the major brands increased 7.2% in the first quarter of 2011, and motorcycle usage is growing at nearly 5% per year.

For obvious reasons, motorcycles are highly vulnerable to serious injuries.

by John Nesbitt According to the National Transportation Safety Board (NTSB), motorcycles make up only 3% of all registered vehicles but account for 13% of all vehicle fatalities.

From 1997 through 2008, motorcycle fatalities increased by more than 150% while overall highway fatalities declined.

In 2008 alone, 96,000 people were injured in motorcycle accidents. In fact, in November 2010, the NTSB added motorcycle safety to its “Most Wanted List of Transportation Safety Improvements” and has for years recommended that all states enact helmet laws, along with several other legislative recommendations.

As most agents already know, motorcycles are excluded under standard auto policies.

A customer wishing to insure a motorcycle has two options: add the motorcycle to an existing auto policy by endorsement or purchase a separate motorcycle policy. Each option has advantages and disadvantages. Typically, if the motorcycle is added to the auto Avoid Motorcycle E&O Claims policy by endorsement, the coverages and limits for the Offering increased limits to your motorcycle motorcycle will be the same as policyholders with a personal umbrella that of the auto. So if the may prove useful in avoiding future E&O customer wants somewhat claims alleging failure to offer adequate different coverage, a separate limits. With limits up to $5 million, the policy may be the best choice.

RLI PUP is a standalone umbrella that can Of course, by purchasing a be written over other underlying carriers separate policy, possibly with a so your customer can keep their current different carrier, the customer homeowner/auto insurer. It also includes may be giving up certain multioptional coverage for $1 million excess vehicle discounts. Some UM/UIM so you can insure your motorcycle customers may also prefer the customers who are so vulnerable to serious simplicity of one premium injury involving a person carrying with payment to cover all vehicles. minimum required limits. Visit One advantage of a www.independentagent.com/rli to learn separate motorcycle policy is more. that it ensures that customized accessories are insured to full value. Your customer may want

Motorcycle Policies: Not Just an Easy Rider

8

to consider purchasing custom parts and equipment (CPE) coverage or coverage for accessories to the motorcycle. While most standard motorcycle policies provide some CPE coverage, they often carry a $1,000 sublimit, and many motorcyclists add accessories and equipment to those originally installed by the manufacturer valued much higher. Customers who add sidecars, electronic equipment, custom paint jobs or custom exhaust equipment worth more than the minimum CPE coverage may be interested in purchasing additional coverage.

Another way to customize a motorcycle policy is to include “lay up,” or seasonal, coverage. Because motorcycles are usually only used during warm months, these credits discount premium for the months the bike is not used.

Driving history, credit store, location and age can affect insurability, as well as the cost of the policy. Motorcyclists can often obtain discounts on their coverage by completing a motorcycle safety course, wearing a helmet and joining a motorcycle organization. Let your customers know when these options are available.

Many of the coverages on a motorcycle policy are the same as those on an auto policy. These include bodily injury liability, property damage liability, comprehensive and collision coverage, uninsured motorist covergage (UM), underinsured motorist coverage (UIM), medical payments and roadside assistance. However, because motorcyclists are more vulnerable to serious injury in the event of a motor vehicle accident than an automobile driver, adequate UM/UIM limits can be even more important. Some motorcyclists may think they have less of a need for high liability limits because they’re not likely to be responsible for injuries or damages to someone driving a car. However, because UM/UIM limits are often capped by the liability limits, part of the decision for how much to obtain in liability limits needs to include how much UM/UIM is advisable.

Additionally, agents should be aware of potential gaps when writing umbrella policies that are intended to cover motorcycles, especially for UM/UIM coverage.

In some states the requirement that

ERRORS & Omissions

coverage for their motorcycle. As always, a well-documented file is an insurance agent’s best defense to an error and omissions claim.

John Nesbitt is an assistant vice president, claims and liabilities with SwissRe Corporate Solutions and handles claims against insurance professionals.

drivers carry auto insurance may differ from the requirement for motorcycle insurance.

Some states may not require a signed waiver of UM/UIM coverage for motorcycle insurance like they do for auto insurance.

Know your state requirements and be sure to comply with state law. Regardless, ensure that your file is well-documented if a customer chooses to not purchase UM/UIM

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11

Feature Also during the 115th IIAK Annual Convention with his partners at Insuramax, Inc. (l to r): Joe Dever, Marvin Smith, Conder, Alan Hennessey.

Hard Work Pays– Meet IIAK Chair, Tim Conder

Conder taking the oath of office during his installation as IIAK Chair, with his wife Debbie.

As a 21 one year old working at a Winn-Dixie grocery store in the south end of Louisville, Tim Conder knew very little about the business of insurance.

However, as fate would have it, a regular customer at the store named Marty Zinser, who Conder had struck a friendship with, would come to introduce him to what would be his future career.

Conder, who was at the time newly married to his wife Debbie, was looking for a career path that would sustain him and his new life. He was a student at the University of Louisville. Zinser was a sales manager for Prudential Life Insurance approached Conder and asked him to consider a career in the insurance industry. “We talked and talked,” said Conder. “Finally I thought, I didn’t want to work in the grocery store my entire life and I was young, so I gave it a shot.” Therefore on December 21, 1979, Conder began his career in the insurance industry.

During those early years, Conder spent most of his work going door-to-door collecting premiums.

“I learned a lot about the business,” said Conder. “Especially about people and selling insurance.” Altogether Conder spent 16 years at Prudential, where he held a number of managerial roles, as well as managed its new property and casualty department. Realizing that he wanted to build a book of business for himself rather

Joined by his family during the 115th IIAK Annual Convention (l to r): son Evan, wife Debbie, Conder, daughter Kelsey.

than for someone else, Conder eventually made his way to the independent agent

12

side of the business when he joined the Edward Frank Company in 1995. “It was an expensive jump,” said Conder. “I had to build a book of business from scratch which in itself has been one of my greatest challenges and achievements.” In the end he earned himself a nice income and great clientele, along with taking on more responsibilities in managing the agency’s personal lines department.

Conder’s experience in managing an entire property and casualty department is what eventually led him to where he is now. As a partner with Insuramax, Inc. in Louisville. The agency was started by Marvin Smith in 1970, who himself had begun in the direct side of the business.

After taking on various partners, of which Conder is currently one of, the agency formed to become Insuramax, Inc. The agency has a staff of 35 people and provides a full range of insurance products and services including benefits and financial services. Its largest business is an apartment program that was begun 15 years ago and has branched out to 20 different states. A significant part of Insuramax, Inc. is its incorporation of community service as part of its business culture. The agency has adopted Down Syndrome of Louisville as its lead agency cause and greatly encourages its staff to take part in a cause that is important to them.

“What I like about my work is dealing with people, whether that’s people here at the agency or with our clients,” said Conder. This goes hand in hand with his interest in being able to solve problems for clients. “What I enjoy about what I do is not necessarily just making the sale, but also in helping a fellow producer put a solution together that can take care of a problem for a client that we can write the business for,” said Conder. Having been in the business for over 30 years, Conder says that treating people right is what’s important. In addition to having a balance

Feature Another family shot this time taken with their “empty nest dog,” Riley.

Looking over some policies with partner, Marvin Smith.

in doing what’s right by the agency, company and client. “Sometimes that’s hard to do,” said Conder. “When you’re dealing with the public, everything is great until the rubber hits the road and that’s usually at claims time. You just have to make sure that the right thing gets done. Sometimes we don’t have a lot of influence over the situation, but you have to be sure to be on their side.”

Conder’s involvement with the Louisville Amidst his busy work-life, Conder Board eventually progressed and he became recognizes that it is his family that grounds its president in 2006. The following year him. “You can be as important as you want he was asked to serve on the board of to a client or the community,” said Conder. directors for IIAK and four years later, was “But when you get home, you’re just dad. installed as the association’s Chair in You’re the guy that fixes their problems, November 2011. goes to the ball games and mows the grass.”

“I don’t think people are really aware He and his wife of 33 years, Debbie, have of what it really takes and what goes into two adult children; a son Evan who is 24 running an association,” said Conder. “We and a daughter Kelsey who is 21. Evan just literally have to constantly reinvent ourselves graduated from the University of Louisville because things change that fast in our with a Masters degree in urban planning industry. As the representative in our state, and public administration. He recently we have to keep changing too and that’s became employed with a real estate tough.” Conder further cites that the one developer based in Chattanooga, TN. big challenge for the state association has Conder’s daughter Kelsey is currently a been that of staying relevant with members. junior at the University of Kentucky and is “We have to make sure that we are studying nursing. His wife Debbie works enhancing the independent agent for the Jefferson County Public School System as a bookkeeper officially but wears many hats.

“I never encouraged or discouraged them to have a career in insurance,” said Conder about his children. “They both have other goals that they want to pursue and I encourage that.

I would never want to make them do something that they didn’t want to do.”

Conder was first Members of the Insuramax team outside its main sign, (top l to r): Joe McKune, introduced to the Big Paulette Cantor, Chad Hennessey, Kristin Smith, Ron Sheeran, Terri Brown; (bottom l to r): Missi Cowan, Marvin Smith, Lisa Bridwell, Conder, Brooke “I” when he joined Shingleton.

Insuramax, Inc. and experience,” said Conder. “That we’re started attending meetings held by the providing agencies, the agent, and Louisville Board. “I enjoyed meeting people employees with something important, that do the same thing as I do, and it was something different. We have to make sure a great way to network, talk to others and we’re delivering bang for their buck.” learn from other people,” said Conder.

13

Feature

The Conder family during Evan’s graduation from the University of Louisville.

The issue of maintaining relevancy is also one that Conder sees as affecting the independent agent system, especially in its declining property and casualty market share. He believes that the current Big “I” lead initiative, Project CAP, created to combat this issue, will not only help turn the tide between the independent agent and captive systems, but that it will also unite Big “I” members towards a common goal. “Project CAP is bringing us all together for a purpose and focusing us on what we can provide to our members that is impactful on their business,” said Conder. “At the same time, the changing landscape of insurance product offerings and coverages helps us maintain a relevancy with customers.”

“They can’t just call a 1-800 number and put policies together, they can’t just get on a website and figure this out totally,” said Conder. “They’re going to need opinions, oral examples and someone to guide them through the buying process.” Conder goes

Marvin Smith and Conder visiting with Secura representative, Darlene Rufra.

14

Conder and Smith pictured with Insuramax staffer Betsy Smith.

on further to say that he is confident that Project CAP is taking independent agents on the right track. “We have six major investor companies that have provided major funds for this initiative,” said Conder. “I don’t think they’ve done that because of their own generosity or for freebies. They’ve done it because they believe in what we’re doing.

What this project is going to do is unite us as an industry and that can only make us all better.”

Another key message that Conder has propelled since becoming IIAK Chair, has been that of involvement. Whether that’s seeking individuals to be part of the industry or for members to become involved with the association. Much like what Marty Zinser did for him; Conder encourages seasoned professionals to seek individuals, whether they are young people looking for a career path, or for those wanting to change a career, to be part of the insurance industry.

And he says that determination, education and confidence are much needed qualities for those wanting to make it in the industry.

“You’ve got to be prepared for the fact that you might start at a lower income than you expected,” said Conder. “But if you persevere, have determination and learn to do the things you need to do, you’ll reap the benefits of your work for the rest of your life, for the rest of your career.”

TRUSTED Choice®

Does Brand Matter?

In the daily bustle of operations, it’s easy to forget about the most important asset you as an owner have to manage: your agency’s brand.

Why is this? Perhaps because when considering your brand, there doesn’t appear to be an instant gratification. Many of you grew up selling. As sales people, you’ve been trained to think, “If I do this activity, I can make this many sales, which translates into this much revenue and this much profit.”

To be sure, your firm’s brand is a bigpicture concept. Your task is to break it down into pieces so you can take steps to manage it. For example, at your next staff meeting discuss the importance of your brand. Note that each employee’s daily behavior is largely responsible for helping, or hurting, your brand.

You might see eyes glazing over. They might be wondering how this topic possibly can relate to what they do. But there are many good reasons for all to care about your brand.

Here are nine ways in which brands can get stronger. At your staff meeting, put them up on a white board, a flip chart or a PowerPoint and encourage discussion: 1. Consumers have choices about where to buy insurance and financial services, and strong brands help consumers edit those choices. In figuring out where to shop and buy among often bewildering choices, consumers want to go to a source, or a few sources, they trust. Remember that people buy brand, not a product or service.

2. Your brand literally is what people say about you. Hence, referrals are critical to new business. Strong agency brands create and maintain top-ofmind awareness in their communities, helping current customers and opinion leaders direct business their way.

3. Strong brands get to choose their clients. They have more loyal customers. In turn, they have lower customer churn or dissatisfaction.

That, in turn, means fewer E&O issues.

4. Strong brands have increased revenue per customer, especially those with a consistent plan to reach out to customers. Great brands never forget the importance of taking care of people already on the books.

5. You can more easily roll out new products if you have a strong brand.

Research leading to the development of Trusted Choice® demonstrated the value of offering customers the

opportunity to purchase other insurance and financial services products. This is what consumers say they want from an insurance provider, so offer them the opportunities to buy!

6. Strong brands guide employee behavior. Everyone is on the same page, and everyone is after the same vision. There are no freelancers doing their own workflows, and there are no arrogant producers pushing the staff around. The best brands attractand keep-great staffers.

7. Similarly, strong brands attract and retain the best carriers and other business partners. Great brands offer best-of-breed products and services.

(Perhaps it’s time to leave one of your carriers if it’s no longer truly supporting your brand?)

8. Who wants to battle it out in a price war? Who wants to be a commodity in the agent or broker business? A strong brand will keep you on a value, not price, platform. That means your customers care most about the overall value they’re getting.

9. Strong independent agent and broker brands consistently increase in value.

After all, every agency someday will be acquired, merged, taken public or given to the kids, so you want it to be as valuable a business as it deserves to be.

With these staff discussions around brand, you actually can define your business strategy and tactics. Ask, “If this is (or is going to be) our brand, what should we be doing?” It should help stop arguments in your agency. If your brand is about friendly service, and your receptionist has difficulty dealing with the public in a positive manner, it’s time to make a switch. If your brand is about choice, make sure you demonstrate clearly on your website that you offer multiple products from multiple companies. If your brand will be more about financial services and less about propertycasualty products, are operations aligned to support that?

A great guide to staying consistent with your brand message with your staff is the Trusted Choice® Pledge of Performance. This Pledge articulates exactly what consumers say they want from their insurance provider.

There are 10 subject areas addressed in the Pledge. For example, Trusted Choice® agents pledge to “Use our experience and multiple-company relationships to customize your coverage as needed.” Ask: What does

15

TRUSTED ChoiceÂŽ

that literally mean day-to-day in your firm?

Are you customizing all coverages?

Trusted ChoiceÂŽ adds value as an additional ingredient to strong independent agent and broker brands. To reiterate: Trusted

ChoiceÂŽ provides consumers exactly what they say they want from their insurance provider.

Go to www.TrustedChoice.com/agents for more branding tips.

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Advocacy

Economy and Election Take Front and Center at National Legislative Conference

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The economy and the election. Those were the two topics that pervaded delegates and lawmakers during the Big “I” National Legislative Conference & Convention which was held April 25 to 27 in Washington D.C. Members from Kentucky meet with Senator Mitch McConnell (l to r): Matt O’Brien, Ross Richey, IIAK Vice Chair John Funnkhouser, Matt Meyer, IIAK

Sen. John Thune (R - S.D.) Chair Tim Conder, YAC Chair Virginia Goff, Past YAC Chair Charles Adams, and Rep. John Barrow (D Senator McConnell, Past President Tommy Adams, Past President Bill Greenwood and Past President Keith Riley.

- GA.) address Big “I” agents Sen. John Thune (R-S.D.) and Rep. John in this year’s presidential election.

Barrow (D-Ga.) delivered keynote speeches “Both sides are going to be trying to win at the legislative conference breakfast which the argument with the American people occurs just prior to the association’s annual about how best to deal with the health care Big “I” Day on Capitol Hill. Every year, issue,” he said. approximately one thousand agents and Thune said lawmakers need to come brokers visit Capitol Hill offices to lobby together to rein in government spending members of the House, Senate and their and craft policies to promote economic staffs on issues that directly impact growth and boost domestic energy independent agents and consumers. production to change the direction of the The lawmakers weighed in on numerous country. “If you look at where we are today, top issues including health care, election we need to get the country turned around-or year politics and the economy. Agents asked we are heading for a train wreck,” Thune the lawmakers what they thought would said. happen to the Patient Protection and In addition, lawmakers also need to Affordable Care Act (PPACA), the enact comprehensive tax reform, including constitutionality of which is under simplifying the tax code and creating consideration by the U.S. Supreme Court. solutions for S corporations and limited Thune said that while he “can’t predict liability companies, corporate structures how it’s going to come out,” he thinks the often used by agencies, that end up paying court will find the individual mandate to at a higher individual tax rate because be unconstitutional by a narrow vote, based they’re considered pass-through entities, on the court’s past decisions where they he said. had “taken the side of individual liberty “That’s why this debate about the when they looked at these issues.” individual tax rate is so important,” Thune The individual mandate is the lynchpin of said. “Everybody seems to think that that the law, he said, “because if they decide to kill just affects the rich in this country, but what off the individual mandate and declare it they don’t realize is how much of small unconstitutional, then for all intents and business income is actually paid at those purposes, it’s sort of a house of cards after that.” higher rates, the individual rates.” He said Similarly, Barrow said if he “had to bet he thinks that Mitt Romney, the Republican the farm,” he would predict that the court presidential candidate front-runner, will be would strike parts of law, such as the elected president this fall over incumbent individual mandate, and leave the rest intact.

Democratic President Barack Obama.

“What worries me is if we carve out “People in this country-when they are parts of it, we could have something that concerned about their economic futures Congress never intended as being the law and when there is a lot of anxiety about of the land,” Barrow said. “It would be the pocketbook, bread and butter, kitchen table worst of all possible worlds.” issues-are going to be looking for a different Regardless of whether or not the court direction,” he added. upholds the constitutionality of the law, While many believe Thune is on the Thune said health care will be a huge issue short list of vice president contenders, when

Advocacy

asked whether he would end up being Romney’s running mate, he said “I don’t expect to be there.” Instead he anticipates he will ultimately be “in the Senate, hopefully working with a new president to take on big issues.”

“In order to solve big problems, you’ve got to have presidential leadership,” he said.

This year, Kentucky sent over a delegation of 17 association members to the event including: Tim Conder, IIAK Chair, Insuramax, Inc., Louisville Bill Latta, IIAK Chair-Elect, Latta Insurance Services, Henderson

ENTHUSIASM IT’S CON TAGIOUS

John Funkhouser, IIAK Vice Chair, JohnsonPohlmann Insurance, Danville Steve Kinkade, IIAK National Director, Kinkade-Cornell Insurance Agency, Leitchfield Jim England, IIAK Treasurer, Wells Fargo Insurance Services, Pikeville

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Project CAP Urges Independent Agents to Join the Cause to Recapture Market Share

In an age when many lament the intrepid rise of direct writers and their effect on personal lines insurance, the IIABA and its strategic partners have stepped up to refocus attention on this critical market and reclaim the independent agent’s rightful share.

Created through an alliance of the IIABA, Trusted Choice®, state associations and key insurance carriers, Project CAP is an industrywide initiative with the vision and resources to elevate the independent agent’s online presence and digital marketing expertise.

“Not long ago, independent agents owned a majority share of the personal lines insurance market,” says IIABA Vice Chairman, Tom Minkler. “Today, it’s more like 34 percent. And every point of that personal lines market adds up to about $2.8 billion in written premium - or roughly $300 million in agency commissions. That’s our market. That’s our point. We want the independent channel to get that point and more.”

Most would agree that the independent channel still offers insurance consumers more choices, better service and greater advocacy than direct writers or captive agent carriers. But the way in which consumers seek out and evaluate options has changed.

According to Project CAP CEO, Scott Deetz, the IA channel hasn’t changed quickly enough to keep up. “Roughly 75 percent of today’s personal auto insurance shoppers begin their search for new coverage online,” says Deetz, “but independent agents are virtually invisible. We’re not showing up where customers are looking, so we’re missing the chance to tell our story. That’s where Project CAP comes in.”

Guided by a senior team of specialists with both insurance industry and Internet marketing experience, Project CAP has established a two-pronged strategy to help independent agencies leverage digital marketing, and help consumers find and connect with independent agents. To help drive this strategy, the organization is rallying all 22,000 IIABA member agencies to “join the cause” and participate in two key initiatives: * A new consumer portal that allows online insurance shoppers to compare coverage options from multiple carriers and connect with a local independent agent. * A comprehensive industry website that

provides independent agencies with all of the digital marketing technology, tools, training and services they need to attract and relate to today’s online consumer.

“If there’s one thing I’ve learned during two decades in this industry, it’s that no agency can win alone,” remarked Deetz.

“We all compete better when we all compete together. So, Project CAP is empowering independent agents to leverage digital marketing in new ways that will grow their own business locally while strengthening our channel nationally.”

Recently, the organization opened enrollment for its much anticipated agency marketing programs through the new industry website at www.projectcapmarketing.com.

Developed by some of the best marketing minds in the industry, this new resource provides a broad selection digital marketing products and services for every independent agency - regardless of size, experience or expertise. Current agency offerings range from introductory and advanced self-directed packages to fully customized programs with accompanying professional services. In fact, the Platinum and Diamond marketing programs offer a level of service equivalent to hiring a full-time marketing agency, but at a fraction of the cost.

Perhaps best of all, every Project CAP agency marketing program also includes early enrollment for participation in the new consumer portal - and the basic Bronze package is available to IIABA member agencies free of charge.

In addition, to its ongoing agency marketing programs, the organization also offers independent agents occasional short term opportunities like its QuickStart packages. Designed to help independent agencies jumpstart their year, these programs include a unique array of online webinars, tools and services delivered within a 60day period for a one-time specially reduced rate. However, the significant discount attached to such packages requires Project CAP to offer them to a limited number of agencies for a limited time. Although enrollment for the QuickStart program closed February 17, the team anticipates introduction of similar, short term opportunities later in the year.

Scheduled for launch in mid-2012, the consumer portal will address the insurance

23

consumer’s collective desire for knowledge, choice, and comprehensive service. While some other online options may also offer consumer research and rate comparisons, none present the unique combination of benefits that will be available here. Aside from the ability to evaluate dozens of insurance companies, the opportunity to select an independent agent who will advocate on their behalf is an advantage most shoppers will find irresistible.

Every agency participating in the new consumer portal will receive an online profile visible to all visitors to showcase key producers and all the benefits they provide. Whether consumers choose to request an online quote or not, they’ll always have the option of reaching out to the agency for assistance in determining or completing the right coverage.

In its effort to provide something for every IIABA agency, Project CAP has also become the industry source for the new Trusted Choice® mobile app.

Designed to work on iOS and Android platforms (with Blackberry versions planned

24

for Spring 2012) this amazing resource allows consumers to find a local Trusted Choice® agent, create their home inventory, document an accident, ask a question and read relevant headlines - all from their smartphone, tablet or other mobile device.

Single digital marketing is all about building relationships that build brands, this app can be customized with an agency’s color scheme and logo. It’s also integrated with both Project CAP and IIABA online systems to provide participating agencies with single sign-on and easy account administration.

The new Trusted Choice® mobile app is available as an added component of most Project CAP agency marketing packages or separately for a nominal monthly fee.

According to Project CAP, all of its agency programs, products and services are not only designed to employ the best practices of digital marketing, but to deliver real results in the real world specifically for independent insurance agents.

But these programs are part of a much larger initiative to reunite the independent channel as one collective voice and one Trusted Choice®. In summary, the organization believes that if every agency will raise its hand and join the cause, then the independent channel will raise its presence with online consumers and return its agents to a position of leadership in personal lines. According to Deetz, that’s more than just a prediction; it’s a matter of Internet protocol.

“Today’s search results rankings are all based on the number of connections each entity enjoys. With our 22,000 agencies all pointing to the portal and each other, IIABA can’t help but dominate its category.”

To help spread the word Project CAP has established an informational website at www.projectcap.info and also recently launched its own page on Facebook. IIABA association members who would like to receive regular updates on any of the above initiatives may sign up through either of these resources.

Independent agents who would like more information about Project CAP agency marketing programs are invited to call 855372-0070, email info@projectcapmarketing.com or visit www.projectcapmarketing.com.

25

YOUNG Agents YAC Sales and Leadership Highlights Announcing a name change at its recent Sales & Leadership Conference, was the Young Agents Committee (YAC), formerly the Kentucky Young Insurance Professionals (KYIP) Committee. The group made the announcement at its 2012 Sales & Leadership Conference in Louisville in March.

The flagship event for the YAC was a great opportunity for fellow young agents and industry professionals to come together for a time of professional development, networking, be informed on industry news and information, and learn about opportunities on how they can be involved with the group.

Among the highlights of the event were: Professional Development You Be the Judge! Mock Trial presented by Rick Pitts How to Fight & Win for Everyone Affected by a Hardening Market presented by Robert Sutter YAC Sales & Leadership Conference Awards Chairperson’s Award - Ross Richey, Lawton Insurance, Bowling Green Committee the Year - Community Service Company Person of the Year - Diana Norwood, Ohio Casualty, Lexington Rising Star Award - Matt O’Brien, Insuramax, Inc., Louisville The YAC would also like to thank the Industry Partners below for their support of the committee and association.

Thank you to the following companies that are supporting the association through its Industry Partners Program in 2012. Their support helps to make possible many of our events and meetings such as the IIAK Annual Convention, Big “I” Day, Legislative Day, KYIP Sales & Leadership Conference and KYIP Day. The Industry Partners Program is an opportunity for insurance companies, wholesalers and vendors to support the efforts of IIAK and bring to its members affor dable, quality events geared towards enhancing the professionalism of association members. (As of 6/8/2012)

Premier Level Ohio Casualty Group Safeco Insurance Diamond Level Seneca Risk Services Gold Level Arlington/Roe & Co. Bolton & Company Risk Placement Services

26

Silver Level Acuity Amerisafe, Inc. Grange Insurance KEMI Kentucky National Insurance Company Keystone Insurers Group S.H. Smith & Company Travelers Bronze Level

Auto-Owners Insurance Bituminous Insurance Companies Countryway Insurance FCCI Insurance Group IIA of Indiana Midwestern Insurance Alliance, LLC. Secura Insurance Westfield Insurance

If you are interested in becoming an IIAK Industry Partner or would like further information on this program, contact IIAK at (502) 245-5432 or email iiak@iiak.org.

YOUNG Agents Ross Richey receives the YAC Chairperson's Award from Chair Virginia Goff.

Rick Pitts presents a mock trial on errors and omissions.

Diana Norwood receives the award for YAC Company Person of the Year from YAC Chair Virginia Goff.

YAC members Neel Ford, Matt O'Brien and Adam Murphy YAC members Melanie Hutchison and Whitney Latta with IIAK Chair Tim Conder.

Presenter r Robert Sutte

first-timers, ate Auto with St of tz ul er Sh Norma Anna Altmai herson and cP M tin ar M

YAC members Rachel Liford and Diana Norwood of Ohio Casualty YAC member Jessica Yon ts with Ryan Schott from Progressiv e

IIAK Vice Chair John Funkhouser and IIAK Chair Tim Conder show some support for their NCAA teams by wearing their UK and UofL shirts.

Neel Ford receives the award on behalf of the Community Service group for YAC Committee of the Year from YAC Chair Virginia Goff.

Matt O'Brien received the YAC Rising Star Award from YAC Chair Virginia Goff

27

28

GOVERNMENT Affairs

Supreme Court Reviews Affordable Care Act

by Bob Skow

Recently, the U.S. Supreme Court heard oral arguments on the constitutionality of Obama Care. Court observers are now discussing the possible outcomes. What all Americans did hear was how the individual mandate could upset the carefully designed limits of federal power by the constitution framers. Court experts indicated that most of the justices seem to be discomforted by the mandate, and indicated how the court grapples with the mandate will likely spell the fate of this huge piece of legislation.

One of the key questions to be decided is if any part of the law is found unconstitutional, is all of the law then unconstitutional? The issue is known as “severability” or what happens to the rest of the law if part of it is struck down. Usually Congress includes a clause that clearly defines its intent in that event. But, what is so ironic is in the rush to pass the law (seems fitting as we are finding all kinds of surprises in the legislation that are problematic for the insurance industry and small businesses).

Congress failed to put a “severability” clause in the bill. Opponents of the legislation seem to appreciate the fact that leaving out the “severability” clause could take the legislation completely down.

WELCOME WELCOME NEW NEW MEMBERS We welcome the following to membership in the Independent Insurance Agents of Kentucky since our last report: Associate Members Vericlaim, Inc. - Louisville Kentucky Young Agents Committee Nelson Insurance - Louisville The Association, its officers and staff look forward to serving these new members with the best membership benefits and related products and services available.

Here are the four scenarios that most analysts think could play out in the Court’s decision which we likely will know in June: 1. Ruling: Court removes mandate, but leaves rest of law intact.

Result: Starting in 2014, insurers could no longer deny pre-existing coverage and millions of dollars for incomes of less that 400% of poverty will be paid out in federal subsidies and Medicaid. Insurers warn that premiums would skyrocket as people wait and buy their insurance on the way to the hospital.

2. Ruling: Court removes mandate, parts of law closely linked to it.

Result: Likely casualties are a rule that insurance companies stop denying coverage for pre-existing conditions and one that limits how much insurers can vary rates based on factors like age and gender - some of the law’s most popular pieces. Insurers says this would help control the impact to premiums outlined in scenario one.

3. Ruling: Court strikes down entire law, including mandate.

Result: Upheaval that has been forced on the insurance industry and the healthcare industry, which has spent two years reorienting itself to the law, would be over...millions will have been spent unnecessarily. Also, a likely end to other parts of the law, such as staying on parents’ insurance until age 26 or the expansion of insurance coverage to uninsured Americans.

4. Ruling: Court upholds the law in its entirety.

Result: Obama wins a major political victory and the law moves ahead full speed.

States will have to scramble to meet deadlines or Federal Government will run exchanges in the state. Opponents will have to hope for major political defeats of those who supported the law on election day in November.

Bob Skow is the CEO of the Independent Insurance Agents of Iowa.

29

PEOPLE In The News

LAIP Installs New Officers The Louisville Association of Insurance Professionals (LAIP) installed new officers for the 2012-2013 year at its Industry Appreciation Night, held on May 23, 2012 in Louisville at the Hurstbourne Country Club.

The non-profit organization which serves professionals, both men and women, who serve in the risk and insurance industry. It is part of a larger organization called the International Association of Insurance Professionals (IAIP). At the event, the LAIP installed the following officers: • Deborah Wade, AINS, KACSR, CPIW, Wells Fargo Insurance Services, Louisville • Ruth Ann Herzog, Wells Fargo Insurance Services, Louisville • Barbi Charles, AAI, CPIW, Wells Fargo Insurance Services, Louisville • Rose Welker, AAI, AU, CPIW, Wells Fargo Insurance Services, Louisville • Linda Harp, CPIW, CISR, Wells Fargo Insurance Services, Louisville • Kate Graeter, CPCU, CAIP, CPIW, Market

Finders Insurance Corp., Louisville The IIAK board, staff and members would like to congratulate the new officers of LAIP and wish them the best in the coming year.

Wade Recognized with Industry Award Deborah A. Wade, AINS, KACSR, CPIW, was recently presented with the Insurance Woman/Professional of the Year Award, at the recent Louisville Association of Insurance Professionals (LAIP) Industry Appreciation Night, on May 23, 2012 in Louisville.

Wade is a commercial accounts manager with Wells Fargo Insurance Services and has been in that position since 2007.

She is highly active in the insurance industry and is the current president of LAIP. She is also a member of the National Association of Insurance Women International.

She is also very involved in her local community, serving as president and CEO of Healing Self: Mind, Body and Spirit, is parish leadership chair for Christ the King Church and is a director/facilitator for Bethany Spring Retreat.

Deborah Wade

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