e-Insight - July 2022 - Non-Member by Big I Illinois

JULY 2022

INSIGHT 2021 MARKETPLACE REPORT Summary of the Illinois Property & Casualty Insurance Marketplace

Plus

Influencers in the Wild - Part 2

Commercial | Personal | Farm-Ag | Specialty

Matthew B. Illinois Sales Manager

Tricia B. Personal Lines Underwriter

Tyler H. Agribusiness Lines

Underwriter

Honest relationships SECURA’s team of insurance experts is making insurance genuine. They are here to support you and your clients. Our underwriting teams are quick to reply, open-minded, and know their stuff. Plus they are backed by our caring claims group who will get your clients back on their feet.

Interested in building a relationship? Contact us at secura.net/IL-agents.

Tyler S. Specialty Lines Underwriter

Kelly L. Commercial Lines Underwriter

Hear from our experts. Want to learn more about what SECURA has to offer? Scan the QR code or visit secura.net/IL-agents for more information about the SECURA team.

Editor & Graphic Design - Rachel Romines

July 2022

Advertising - Tami Hubbell

CONTENTS 10 12 18 22 25

Are You Prepared for Rising Interest Rates? By Matthew Sprang

Influencers in the Wild - Part 2 Marketplace Report - 2021 IL Property & Casualty Insurance Save the Date for CONVO 2022 IIA of IL Awards

In This Issue

The Independent Insurance Agents of Illinois (IIA of IL) has been providing members with a sustainable competitive advantage since 1899.

7 11 17

Brett’s 2 Sense Trusted Choice

e-Insight

28 32 33 34

Associate News Agency/Agent Spotlight IIA of IL News Classifieds

info@iiaofil.org | www.iiaofil.org | (800) 628-6436 or (217) 793-6660 | Fax: (217) 793-6744 WINNER

2009 • 2010 • 2011 • 2012 • 2013 • 2014 2015 • 2016 • 2017 • 2019 • 2020 • 2021

Insight is the official publication of the Independent Insurance Agents of Illinois (IIA of IL). The magazine is published monthly for the members of the IIA of IL, with the office located at 4360 Wabash Avenue, Springfield, Illinois 62711-7009; Consumer Website: www.ChooseIndependent.com. The IIA of IL welcomes letters discussing concerns of the insurance industry, articles, editorials, other matters of interest to the membership. The editor reserves the right to edit and select submissions for publication. Address submissions for review to Rachel Romines at rromines@iiaofil.org. For advertising information, contact Tami Hubbell at thubbell@iiaofil.org.

ADVERTISERS

Board of Directors Executive Committee

APPLIED UNDERWRITERS

BERKSHIRE HATHAWAY GUARD INS. COMPANIES

EBRM

GRINNELL MUTUAL

IPMG

JM WILSON

Cover Tip 2 35 5

OMAHA NATIONAL SECURA INSURANCE UFG INSURANCE WEST BEND MUTUAL INSURANCE CO.

IIA of Illinois Staff Director of Information and Technology Shannon Churchill - (217) 321-3004 - schurchill@iiaofil.org

Director of Government Relations Evan Manning - (217) 321-3002 - emanning@iiaofil.org

Director of Education and Agency Resources Brett Gerger, CIC - (217) 321-3006 - bgerger@iiaofil.org

Office Administrator Kristi Osmond, CISR - (217) 321-3007 - kosmond@iiaofil.org

Accounting & Admin Services Tami Hubbell, CIC - (217) 321-3016 - thubbell@iiaofil.org

Director of Communications Rachel Romines - (217) 321-3024 - rromines@iiaofil.org

Director of Human Resources, Board Admin Jennifer Jacobs, SHRM-CP Director of Membership Services Tom Ross, CRIS, CPIA - (217) 321-3013 - jjacobs@iiaofil.org - (217) 321-3003 - tross@iiaofil.org Sr. Vice President/Chief Financial Officer Mark Kuchar Products & Services Administrator Janet White, CISR - (217) 321-3015 - mkuchar@iiaofil.org - (217) 321-3010 - jwhite.indep12@insuremail.net Chief Executive Officer Phil Lackman, IOM Director of Prof. Liability & Ins. Products Carol Wilson, CPIA - (217) 321-3005 - plackman@iiaofil.org - (217) 321-3011 - cwilson.indep12@insuremail.net Central/Southern Marketing Representative Lori Mahorney, CISR Elite - (217) 415-7550 - lmahorney@iiaofil.org

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insight

july 2022

INSURANCE PROGRAM MANAGERS GROUP CLAIMS MANAGEMENT SERVICES

IN THE WORLD OF INSURANCE, CLAIMS DO HAPPEN. IPMG’s Claims Management Services division (CMS) is that partner. As a full-service claims management company, IPMG CMS accepts the responsibility and expects to be held accountable for the results we achieve on behalf of our clients.

SERVICES AND RESOURCES: » » » »

» » » » » » » » » »

Workers’ compensation claims management Property and liability claims management Auto liability and physical damage claims management Professional liability claims management » Strong emphasis on public entity and long-term care sectors Nurse case management Risk management/loss control Medical bill review Pharmacy benefit management Aggressive litigation management Utilization review Electronic claim reporting with immediate acknowledgment and adjuster assignment 4-hour assigned adjuster contact on every claim Online claim review including adjuster notes and financials Industry leading analytics with national database for benchmarking purposes

INTERNAL QUALITY CONTROL AND COST CONTAINMENT PRACTICES: » Adjuster book of business analysis – to ensure workload does not affect service levels » Closing ration analysis – a monthly review to ensure adjusters are achieving maximum production » Claims diary tracking » Formal litigation handling guidelines and practices » Comprehensive medical bill review – average 59% cost reduction » Pharmacy benefit program – average 35% cost reduction » ISO claims search » Medicare section 111 data reporting and compliance

For more information please contact:

MIKE CASTRO

BOB SPRING

Sr. VP, Claims Management Services Mike.Castro@ipmg.com 630.485.5895

VP, New Business Development Bob.Spring@ipmg.com 630.485.5885

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judge a company’s credibility based on their website. Make sure your website is making a great first impression. Utilize a Trusted Choice® preferred vendor and get $500 back when upgrading your site.

Visit trustedchoice.independentagent.com/partners to learn more! Partners:

Influencers in the

Wild Part 2

e INSIGHT -

online journal at www.iiaofil.org/Resources/Insight

JU LY 20 22

INSIGH T

2021 MAR REPOKETPLAC E RT

Summ Insura ar y of th nce M e Illino is arketp lace Property & Ca su

alty

Plus

Influen W ild - cers in the Par t 2

What’s the Cost of Doing

Nothing? By AgentSync & Insurance Journal

In this month’s e-Insight. july 2022

insight

INSIGHT | associate news Thank you to our Associate Members.

Diamond Level

Platinum Level

Progressive Surplus Line Association of Illinois

Gold Level AAA Insurance Arlington/Roe BlueCross/Blue Shield of IL Grinnell Mutual Reinsurance Company Keystone Insurance Group, Inc. Pekin Insurance

Silver Level Imperial PFS IMT Insurance West Bend Mutual Insurance Co.

Bronze Level A. J. Wayne & Associates AMERISAFE AmTrust North America Auto-Owners Insurance Co. Badger Mutual Insurance Company Berkshire Hathaway Guard Insurance Companies BluSky Restoration Contractors Chubb ClickVSC Columbia Insurance Group Continental Western Group Cornerstone National Insurance Company Cowbell Cyber CRC Group CRDN of Chicago (formerly Restoronics) Donald Gaddis Company, Inc. Donegal Insurance Group EMC Insurance Encova Insurance Forreston Mutual Insurance Company Frankenmuth Insurance Grange Insurance Homeowners of America Insurance Company Illinois Mine Subsidence Ins. Fund Illinois Public Risk Fund Indiana Farmers Insurance 28

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Insurance Program Managers Group J M Wilson Liberty Mutual/Safeco Insurance Madison Mutual Insurance Company Marble Box Marsh, Berry & Company Maximum Independent Brokerage, LLC Mercury Insurance Group Midwest Insurance Company Nationwide Pouch Insurance Previsor Insurance & Missouri Employers Mutual PuroClean Emergency Restoration Services Rockford Mutual Insurance Company RT Specialty - Naperville Sensa, Inc. ServiceMaster DSI Society Insurance Specialty Risk of America Synergy Select The McGowan Companies Travelers UFG Insurance Utica National Insurance Group W. A. Schickedanz Agency, Inc./Interstate Risk Placement Western National Insurance Westfield july 2022

associate news | INSIGHT

In Memoriam Sue Sutphen of Arlington/Roe passed away on May 22, 2022. Sue had been with Arlington/Roe for the past 12 years and was a tremendous worker and associate. She originally joined Arlington/Roe in 2004 working in policy services. After leaving to spend time with her young children, she returned in 2014 as a commercial lines assistant underwriter and was promoted to commercial lines underwriter in 2018. Sue took great pride in finding the right coverages for our agency partners and their clients. Sue was passionate about service to her agents. She loved to learn and was someone you could always count on for help. Her 12 years in the commercial lines department made her a wealth of knowledge for not only her agents but also her colleagues. She truly cared for Arlington/Roe and her Arlington/Roe family. Sue’s family and friends remember her perfect smile and witty humor. Sue’s biggest accomplishments in life are her three children, her longstanding marriage and her successful career as a commercial lines underwriter. She enjoyed spending time with family and friends; swimming, boating and just relaxing by a fire. The IIA of IL Board of Directors and staff send our condolences to Sue’s family, coworkers, and friends.

SECURA Insurance Promotes Larry Wright to Senior Vice President

SECURA Insurance promoted Larry Wright to Senior Vice President and Chief Claims Officer effective May 23, 2022. Larry began his career at SECURA in 1997 as an IT programmer/analyst. He held progressive positions, including IT supervisor, IT director, workers’ compensation claims representative, workers’ compensation claims supervisor, claims project manager, casualty representative, litigation coordinator, and vice president – claims. Most recently he was promoted to Vice President and Chief Claims Officer in 2018. Larry earned a bachelor’s degree in business administration from the University of Wisconsin–Eau Claire and an MBA from the University of Wisconsin Oshkosh. He earned his Chartered Property Casualty Underwriter (CPCU), Certified Insurance Data Manager (CIDM), Associate in Insurance Services (AIS), and Associate in Claims (AIC) designations. He also earned a Master’s Certificate in project management from the University of Wisconsin–Madison School of Business. july 2022

2022 JM Wilson INS INSIGHT OUTLINES.indd 1

insight3:10 PM 29 12/6/21

iia of il

October 4-6

Crowne Plaza, Springfield

2022

Plu

or e!

Industry Related Hot Topics

ch m

Cyber, Phishing & More

Legislative & Regulatory Update

Agency Operations/ Procedures

Technology Solutions to Increase Efficiency

E&O/ Ethics

Sales

Premium Fund Trust Accounts & Rebating Regulations

Pl us

Inc lud ing ...

Education for Everyone in the Agency!

Wednesday General Session features Steve Anderson with Catalyit who will be reviewing the Evolution of Insurance with several key panelists from the industry. Learn from other “thought leaders” and “problem solvers” like yourself on how they have faced challenges in the areas of Hiring, Creating a Culture, DEI, Efficiencies, Implementing Technology and more. Thursday morning features an Industry & Election Forecast….Association Resources, Industry Insights & Election Analysis – with Amy Walter, Popular On-Air Political Analyst; Hannah Meisel, NPR State Government and Political Editor; and Dana Popish Severinghaus, Department of Insurance Director.

ILConvention.com

Workers’ Compensation We distinguish our Workers’ Compensation coverage by providing value-added services before, during, and after a claim. Upfront loss control measures Responsive claims handling Facilitation of quality medical care (when an accident does occur) We’ve been successfully protecting our policyholders and their employees since 1983. Browse all of our products at www.guard.com.

APPLY TO BE AN AGENT: WWW.GUARD.COM/APPLY/ Our Workers’ Compensation policy is available nationwide except in monopolistic states: ND, OH, WA, and WY.

AWARD WINNER YOUR NAME HERE

IIA of IL AWARDS Nominations Now Being Accepted!

Agency of the Year agent of the year young agent of the year Deadline is August 1. Go to www.iiaofil.org/IIA-of-IL-Awards or scan this code to make your nomination. (Self submissions encouraged)

In March, the IIA of IL highlighted the achievements of women in insurance. The following is one of the submissions we received. Check back next month for more. If you would like to see your agency highlighted in a future issue of Insight, fill out the short submission form at www.iiaofil.org/Agency-Spotlight-Submission.

Cindy Jackman Arlington/Roe

We would like to hear more about your time in the industry. Why did you choose insurance and when did you begin?

Although I never thought I’d end up in the insurance industry, here I am 38 years later, and still loving it! I started as a receptionist in an independent agency to help pay my tuition in college. I was promoted to Personal Lines CSR, then Commercial Lines, Marketing Director, Agency Manager and ultimately owner. I had a personal goal to be an agency owner by age 30 and I achieved that goal. I have also worked as an Independent Contractor/ Producer so I guess you could say I’ve covered a lot of responsibilities on the agency side. I got involved with the IIA of IL in the late 1980s on the Young Agents Committee and have thoroughly enjoyed my service through the years serving on many task force/committees, Regional Director, Executive Committee and President in 2015/16. I currently serve on the Executive Committee as Secretary/Treasurer. After serving as Association President, I realized I enjoyed helping the independent agents across the state grow and enhance their agency which led me to challenging myself/expanding my knowledge and transitioning to the managing general agency side. Today I love working with the agents, the association, the many dear friends I’ve gained over the years and business associates working in what I consider to be the best industry!

Are there any unique professional struggles you’ve had as a woman in insurance, both in the past, and currently?

I don’t know if I’d say struggles, but it was definitely a unique situation when I started in the business as very few women were in the industry at that time. Attending a company meeting, networking event or educational class I can remember being one of the 2-3 women out of maybe 100 in attendance. Women in the industry has evolved over the years, as has the number of women in leadership positions. I never looked at those situations as challenges or barriers as my Dad instilled leadership qualities in me and my parents taught me the golden rule which I try to live by. Are there times I’ve felt overlooked, insecure or looked 32

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down on in the business because I am female? - yes but I didn’t let those times stop my ambition or keep me from reaching my goals.

What advice would you give to the next generation of female insurance professionals?

Set your goals and don’t give up until you reach them. There are so many opportunities in the industry for female professionals - follow your dreams of where you want to be and make those a reality. Reach out to experienced female professionals for support and guidance. There is nothing I like to see more than a young professional exceed in this business. I want them to fall in love with the industry as I did. Get involved with the association & networking groups - gain & share knowledge with other associates. This industry can provide a great career and a lot of fun at the same time. Fill your space, meaning whatever business setting you are in, don’t just show up to be there, show up to be better - learn, contribute, leave knowing more than when you arrived.

What do you think the future of the industry will look like?

The last two years have really changed a lot for the insurance industry. So much of our communication was forced to a computer screen. Although advancing technology is a good thing, insurance is still a people/ relationship business which is one of the things I like about it. I focus on relationships and plan to renew & expand those personal & business relationships, away from a computer screen. And, one day, down the road I plan to retire from a life-long career in insurance.

Anything else you’d like to add?

Being a female is not a deterrent for a successful career in the insurance industry today. Working hard, being committed, being honest are not gender traits - success can be found with those traits regardless of what gender. july 2022

iia of il news | INSIGHT

Education Classes july

6 6 7 11 12 13 13 19 21 21 25 27 28

Pre-Licensing-Property & Casualty Virtual Ethics: Essentials for the Insurance Producer Webinar Agent’s E&O: Defenses and Preventions Webinar E&O Roadmap to Personal Auto & Umbrella Ins Webinar CISR-Agency Operations Virtual Class CIC - JK Ruble Seminar Elk Grove Village

son! In Per

E&O Roadmap To Cyber & Privacy Insurance Webinar Pre-Licensing-Life & Health Virtual CISR-Personal Lines Miscellaneous Virtual Class E&O-Roadmap to Homeowners Endorsements & PIM Webinar E&O:Identity Theft, Red Flags, and Money Laundering Webinar E&O - Roadmap to Policy Analysis Webinar CISR-Commercial Casualty 1 Virtual AND In-Person (Springfield)

son In Petrual! or Vir

august

2 3 4 9 10 11 16 17 18 18 23 24 24 25 31

Pre-Licensing-Property & Casualty Virtual E&O Roadmap to Personal Auto & Umbrella Ins Webinar CISR-Commercial Casualty 2 Virtual Flood Insurance, FEMA, and the NFIP Webinar E&O Roadmap To Cyber & Privacy Insurance Webinar CISR-Elements of Risk Management Virtual class Pre-Licensing-Life & Health Virtual E&O:Identity Theft, Red Flags, and Money Laundering Webinar E&O - Roadmap to Homeowners Endorsements Webinar Why Good People Do Bad Things: Ethics Deep Dive Webinar CISR-Insuring Commercial Property Virtual CIC-Personal Lines Virtual E&O - Roadmap to Policy Analysis Webinar E&O: Duties, Best Practices, Certificates and More Webinar CISR-Insuring Persoanl Auto Exposures Virtual

New Members member agency The Boss Insurance Group, LLC Chicago, IL For information regarding IIA of IL membership or company sponsorship, contact Tom Ross, Director of Membership Services, at (217) 321-3003, tross@iiaofil.org. july 2022

insight

INSIGHT | classifieds for the insurance professional by the insurance professional

OPPORTUNITIES/SPACE AVAILABLE/RETAIN OWNERSHIP

AGENCY/AGENTS/PRODUCERS WANTED

02. Forest Park/Oak Park agency for over 60 years, will meet your needs by providing space, markets, marketing & sales support, automation, merging with or purchasing your agency. Perpetuation/ Succession Plans, BuySell Agreements also available. We have experienced, educated and dedicated staff for you and your clients. Have access to our numerous companies, office services and many other resources. Retain ownership in your book with contingency. Please look closely at us- we are an agency you want to do business with! We’ve done it before, we know how- we make it easy! Visit our website at forestagency.com/agents.html, or call for a confidential discussion and a list of Agency benefits.

13. We are a 100 year old Northbrook agency looking to discuss any mutually beneficial opportunity. Our producers, mergers, clusters and agency purchases receive 50% commissions on new and renewal business without any expenses. We can provide: office space, phones, agency management system, service renewals and changes. The companies we represent are: Badger Mutual, Employers Mutual, General Casualty, Guide One, Hartford, Kemper, Progressive, Rockford Mutual, Safeco, State Auto, Travelers and Met Life. Contact:

Nancy Solomon Martini, Miller & Schloss, Inc. (847) 291-1313 Ron@martini-miller.com

Dan Browne will provide an agency evaluation/appraisal at little cost to you. Please call:

Dan Browne or Cathy Hall Forest Insurance (708) 383-9000 www.forestinsured.com/mergers-acquisitions

INDEPENDENT INSURANCE AGENCIES WANTED

17. We are an Independent family-owned agency located in the Chicago area. We are looking to expand through growth and acquisition. If you have a small to medium sized agency and are looking to sell, call or send us a message. We are looking for Personal and Commercial Lines accounts with preferred companies. We look forward to hearing from you.

AGENCY WANTED

20. Since 2004, Central Illinois Agents Group LLC has been providing independent agents with a variety of markets with contingency opportunities. Agents have availability to several markets that they may not be able to sustain or maintain on their own. We have markets for personal, commercial, agricultural and crop insurance lines. Let us help you get to the next level.

GALO Insurance Agency, Inc (847) 832-0888 steve@galoagency.com

Visit www.ciagonline.com for contact information.

We Make Hiring Easier

CareerPlug’s hiring software helps agents attract more qualified candidates, identify the right candidates with confidence, and improve hiring results. CareerPlug will provide IIA of IL members access to a free account that can be used to post jobs, manage applicants, and improve the organizations’ employment brand. Association members can also access a “Pro” version of CareerPlug for a special rate to take hiring to the next level.

Learn more about CareerPlug and check out the brand new IIA of IL job board at

www.iiaofil.org

insight

july 2022

“I love spending hours trying to quote online.”

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Simple solutions for complex times

UFG’s rejuvenated online experience isn’t about being better than others — it’s about being better for agents like you. Explore our simple solutions for complex times and experience service aimed to exceed expectations.

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...And More To Come.

It Pays To Get A Quote From Applied.® Learn more at auw.com/MoreToLove or call sales (877) 234-4450 ©2022 Applied Underwriters, Inc. Rated A (Excellent) by AM Best. Insurance plans protected U.S. Patent No. 7,908,157.