Wisconsin Independent Agent | February 2024 Magazine

wisconsin INDEPENDENT AGENT FEBRUARY 2024

THANK YOU, 2023 INSURPAC DONORS!

IIAW Members Raised

OVER $19,000 For InsurPAC in 2023

This issue was brought to you by our Exclusive Supporting Company Member:

When customers turn to you for insurance needs

THINK UFG

UFG Insurance is a regional carrier with a 77-year legacy of outstanding service.

■

Commercial P&C.

■

Excess and surplus.

— Middle market.

■

Reinsurance.

— Small business.

■

Surety.

N

E C

Visit ufginsurance.com to learn about our products, the industries we serve and how to partner with us.

INSURANCE

© 2023 United Fire & Casualty Company. All rights reserved.

ufginsurance.com

CONTENTS wisconsin INDEPENDENT AGENT

COVER STORY: Thank you, 2023 InsurPAC Donors!

IIAW members raised over $19,000 for InsurPAC in 2023, making it a record-setting year with national totals reaching nearly $1.25 million!

PAGES:

6-8

INSURANCE BARTENDER......................................................7 2023: A Record-Breaking Year for InsurPAC

FROM THE ARCHIVES............................................................15-17 When IIAW Stands With You (Originally Published in 1965)

PERSONAL LINES.....................................................................18-19 Costly Coverage Mistakes

RISKY BUSINESS......................................................................20-21

INDEPENDENT INSURANCE AGENTS OF WISCONSIN 725 John Nolen Drive Madison, Wisconsin 53713 Phone: (608) 256-4429 Fax: (608) 256-0170 www.iiaw.com

2023-2024 EXECUTIVE COMMITTEE President:

Mike Ansay | Ansay & Associates

President-Elect:

Joanne Lukas Szymaszek | Risk Strategies Company

Secretary-Treasurer:

Dan Lau | Robertson Ryan Insurance

Chairman of the Board:

Nick Arnoldy | Marshfield Insurance Agency, Inc.

State National Director:

Steve Leitch | Leitch Insurance

2023-2024 BOARD OF DIRECTORS Janel Bazan | Avid Risk Solutions/Assured Partners Beth DeLaForest | Aspire Insurance Group, Inc. Mike Harrison | R&R Insurance Services, Inc. Jason Knockel | Kunkel & Associates, Inc.

The Life of an Insurance Agency Auditor

Aaron Marsh | Marsh Insurance Services, Inc.

ERRORS & OMISSIONS.........................................................22-23

Brad Reitzner | M3 Insurance Solutions

Keeping in Touch With Clients - The Value of a Pre-Renewal Email

COMMERCIAL LINES.............................................................24-25 Why Do Insurance Policies Have Exclusions?

FINANCE........................................................................................27 Maximizing Opportunities in a Hard Market

TECHNOLOGY.............................................................................28

Andrea Nelson | Unisource Insurance Associates, LLC Justin Staebler | Risk Strategies Company

IIAW Staff Matt Banaszynski | Chief Executive Officer 608.256.4429 • matt@iiaw.com Mallory Cornell | Vice President 608.210.2975 • mallory@iiaw.com

Gmail, Yahoo Implementing New Requirements for Bulk Email Senders

Kim Kramp | Accounting Supervisor 608.210.2976 • kim@iiaw.com

MARKETING...............................................................................30-31

Trisha Ours | Director of Insurance Services 608.210.2973 • trisha@iiaw.com

GOVERNMENT AFFAIRS.......................................................32

Evan Leitch | Agency Solutions Advisor 608.210.2971 • evan@iiaw.com

How Independent Agents Can Create an Effective Homepage Wisconsin Insurance Commissioner Appoints New Deputy Commissioner

MEMBERS IN THE NEWS.......................................................36-37 FOOD FOR THOUGHT..............................................................39

ADVERTISERS INDEX Berkshire Hathaway GUARD...................21 IMT.......................................................................40 Penn National..................................................26 Robertson Ryan & Associates.................23 SFM......................................................................14 UFG......................................................................2 West Bend.........................................................29 Western National...........................................33

Kaylyn Staudt | Marketing and Communications Director 608.210.2977 • kaylyn@iiaw.com Jeff Thiel | Director of Agency Success 608.256.4429 • jeff@iiaw.com Andrea Michelz | Education & Membership Engagement Coordinator 608.210.2972 • andrea@iiaw.com Diana Banaszynski | Events Coordinator and HR Business Partner 608.256.4429 • diana@iiaw.com Ali Smeester | Accounting Specialist 608.256.4429 • ali@iiaw.com

Wisconsin Independent Agent is the official magazine of the Independent Insurance Agents of Wisconsin (IIAW) and is published monthly by IIAW 725 John Nolen Drive, Madison WI 53713. Phone: 608.256.4429. IIAW does not necessarily endorse any of the companies advertising in publication or the views of the writers. IIAW reserves the right, in its sole discretion, to reject advertising that does not meet IIAW qualifications or which may detract from its business, professional or ethical standards. © 2024 For information on advertising, contact Kaylyn Staudt, 608.210.2977 or kaylyn@iiaw.com. wisconsin INDEPENDENT AGENT

| FEBRUARY 2024 | 3

SECURA isn’t like other carriers, and we’re proud of that.

We put the independent agent and your customers - first.

Commercial | Farm | Agribusiness | Specialty

“We value the close relationships we have with our agents. We work hard each day to continue to win our agents’ best business by providing a high level of service at every interaction.”

Tim Heyroth, Senior Vice President and Chief Sales Officer

Our independent agents value the long-term partnerships they find with SECURA and our commitment to quality coverage and service. Here are just a few of the reasons they love to work with us.

Competitive coverage options

•

Genuine people – Passionate, experienced associates committed to excellence and service, both for our agents and policyholders

•

Expansive product portfolio – Broad coverage for Commercial, Farm, Agribusiness, and Specialty Lines

Specialty Lines provides agents and prospects with an admitted carrier option for difficult-toplace business. Clients range from fitness centers to food trucks and special events to nonprofits.

•

Easy to do business – Committed to agent-focused solutions to help you grow your business

•

Highly rated – Recognized by AM Best as A (Excellent) and Ward’s 50, not to mention high marks from agents and policyholders

•

Motivated by mutual success – We meet our policyholders’ needs best by partnering with experienced, independent agents

Commercial Lines is SECURA’s largest business unit. Our expanding appetite for contractors, manufacturing, retail, restaurants, and numerous other markets offer coverage to fit your clients’ needs.

Farm Lines taps on the hands-on experience of former farm kids to underwrite farm risks, including dairy farms, grain farms, and fruit and vegetable farms.

Agribusiness Lines expands beyond traditional farms to offer coverage for unique ag businesses, such as farm retail, food products manufacturing, and contractors.

“We offer a broad appetite for a variety of businesses in Commercial, Specialty, Agribusiness, and Farm Lines.

Our knowledgeable and experienced underwriting teams work closely with our agents to find mutual success.”

Kevin Klestinski, SECURA Vice President and Chief Underwriting Officer

Thank You,

IIAW members collectively donated $19,590 throughout 2023.

Thank you to all of the 2023 InsurPac donors!

2023 Donors:

$250-499

$1-99 • • • •

•

Matt Frank, Robertson Ryan & Associates, Inc. Andrea Michelz, IIAW Elizabeth Viveros, Trusted Choice.com Ryan Waite, McClone

$100-249 • • • • • • • • •

Beth DeLaForest, Aspire Insurance Group LLC Jesse Furrer, Spectrum Insurance Group LLC Mike Harrison, R & R Insurance Services, Inc. Craig Lemke, Republic Associates of Wisconsin, LLC John Loppnow, Robertson Ryan & Associates, Inc. Aaron Marsh, Marsh Insurance Services, Inc. Rose Roberts, Rose Roberts Insurance Agency Lisa Triscari, American Advantage Insurance Group - IFS, Inc. Derek Wickhem, John Wickhem Agency

• • • • • • •

Nick Arnoldy, Marshfield Insurance Agency, Inc. Andrea Brunner-Nelson, Unisource Insurance Associates LLC Raymond Hansen, IIAW Lise Kobussen, Meyer Insurance Agency, Inc. Dan Lau, Robertson Ryan & Associates, Inc. Steve Leitch, Leitch Insurance Agency, Inc. Jon Oaks, American Advantage Insurance Group - Lindow Insurance Jeff Thiel, IIAW

$500-999 • • • •

Marc Petersen, American Advantage Insurance Group - Petersen Group Justin Staebler, Risk Strategies Joanne Szymaszek, Risk Strategies Michael Zahn, Truyman Haase Zahn Insurance Group, Inc.

Ansay, Ansay & Associates LLC $1000+ •• Debra Mike Ansay, Ansay & Associates LLC • • • •

Why Donate?

Matt Banaszynski, IIAW David Fritz, TRICOR, Inc. Brad Reitzner, M3 Insurance Solutions, Inc. Darrel Zaleski, Spectrum Insurance Group LLC

InsurPac, the political action committee of the Big “I”, has helped to make your national association’s lobbying team one of the best in the country. By supporting and lobbying on important and critical issues, the Big “I” government affairs team has helped the industry with many pressing issues while always keeping the independent agents’ interests at the forefront.

Donate today at independentagent.com/governmentaffairs

INSURANCE BARTENDER

2023: A RECORD-BREAKING YEAR FOR INSURPAC Donating to a political action committee (PAC) is a personal decision and individuals choose to support PACs for various reasons. When it comes to PACs in the IIAW and our national association, the Big I, our state and national PACs focus on supporting those running for political office who support the insurance industry.

Please consider donating to InsurPAC so we can continue to support those that support your agency and our industry. Visit www.insurpac.com to learn more and donate today.

InsurPac, the Big “I" political action committee (PAC), raised $1,318,024 during the 2023 calendar year. A total of 3,501 donors invested an average of $376 per person. Last year, 443 “major donors" gave $1,000 or more, 48 of those stepped up with investments of more than $2,500, and a record 40 invested the maximum amount of $5,000.

Want to know who InsurPac supports in Wisconsin and in turn supports the insurance industry? InsurPac is proud to support these individuals in Congress (directly and through the 2023 LPAC): • Congressman Bryan Steil: $12,500 • Congressman Scott Fitzgerald: $10,000 • Congressman Mike Gallagher: $4,000 • Congressman Glenn Grothman: $3,000 • Congressman Derrick Van Orden: $2,000 • Congresswomen Gwen Moore: $1,500

A big thank you to the individuals who contributed to InsurPAC and helped us raise almost $20,000 in 2023.

The record fundraising total surpassed last year by approximately $49,000, which is fitting since it was InsurPac's 49th year in existence. Investments to InsurPac spanning the last five decades have made it one of the largest small business PACs in the country and the PAC is credited with making the Big “I" one of the most well-respected advocacy associations on Capitol Hill.

Total in 2023 distributed to Wisconsin Congressmen/ women: $33,000.

> Matt Banaszynski, CEO, IIAW

Matt’s Mixology Bourbon Hot Chocolate Before winter comes to an end, it's a great time to make those last-minute seasonal drinks.

Ingredients

• • • • • •

1 oz. bourbon 1 1/2 oz. bourbon cream 1 oz. water 1/2 oz. cherry juice 1-2 dashes of cherry bitters 1-2 dashes of aztec chocolate bitters

Directions 1.

2.

3.

4.

Add all ingredients except the bourbon cream to a mug.

Microwave for about one minute. Stir and microwave for another 30 seconds to one minute.

Add bourbon cream.

Garnish with chocolate covered cherries and marshmallows.

Photo and recipe courtesy of Chilled Magazine.

wisconsin INDEPENDENT AGENT

| FEBRUARY 2024 | 7

POLITICAL AFFAIRS

THE POWER OF THE PAC The U.S. Congress is constantly considering legislation that can potentially affect independent agents and brokers on issues including taxes, regulation, licensing, federal programs and much more. The success of the independent agency system today and down the road is largely dependent on staying active in the political process and encouraging others in the industry to do the same. Political action committees (PACs) are one of the quickest and most effective ways to become engaged in this process.

InsurPac is the federal political action committee of the Independent Insurance Agents & Brokers Association (the Big “I”). It is the largest propertycasualty insurance industry PAC in the nation, and is one of the reasons the Big “I” is routinely rated as a top lobbying group in Washington, D.C. InsurPac distributes 100% of its voluntary agent donations to U.S. senators, representatives and candidates for federal office. In making those disbursements it does not look at party affiliation; rather, it supports those officials who have been advocates and supporters of the independent agency system. As a result, the Big “I” and InsurPac have an impressive bipartisan track record in Congress and on the campaign trail.

Consider the following: • During the 2021 - 2022 election cycle, InsurPac distributed $1,911,500 to a total of 228 federal campaigns, winning 210 of them to chart a 92% victory rate.

• In 2023 alone, InsurPac disbursed $1,213,000 to federal campaign entities and the Big “I” federal lobbying team attended 720 fundraising events where they had thousands of conversations with members of Congress and their staff.

• Last year, agents and brokers from Wisconsin contributed a total $19,509.00 to InsurPac. InsurPac disbursed over $33,000 to Wisconsin members of congress and U.S. Senators. Those disbursements will continue to increase as we move into the new year and the election approaches.

8 | FEBRUARY 2024 |

wisconsin INDEPENDENT AGENT

While victories such as these are impressive, they are not nearly as important as the relationships that are developed via InsurPac. Hundreds of fundraising events happen each week in Washington, D.C., benefitting members of the U.S. Senate and House.

Big “I” federal lobbyists attend fundraisers every day, carrying the independent agent banner and establishing relationships with key legislators and their staff. Just as an agent values his or her clients and works with them to develop relationships, the Big “I” Capitol Hill team works to maintain relationships with elected officials. While these relationships obviously don’t guarantee votes, they do provide opportunities to meet with key decision makers at the appropriate time and educate them on the agent perspective.

The importance of PACs in the political and legislative process cannot be underestimated. The trial lawyers have used their $5 million PAC to stop meaningful tort reform. Realtors have used their $8 million PAC to raise their presence and become one of the most influential interest groups. The National Association of Insurance and Financial Advisors have used their $2 million PAC to push for federal regulation of life insurance.

The Big “I” membership has always prided itself on political engagement, and the continued growth of InsurPac indicates the trend is not slowing down anytime soon. This political clout is apparent in the relationships the association and it’s lobbyists have on Capitol Hill, the reputation of the association as a whole, and the many times they are consulted by the administration and invited to testify before Congress on a variety of industry issues.

The Big “I” continues to be one of the most wellrespected associations in Washington and it’s in large part due to the power of InsurPac.

> Molly Abboud, Director of Political Affairs, Big 'I"

Join Us In Celebrating

This Year’s Special Guests:

Charles Woodson

Matt LaFleur

REGISTER NOW: IIAW.COM/INSURCON

wisconsin INDEPENDENT AGENT

| FEBRUARY 2024 | 9

EVENT SCHEDULE INSURCON2024 • MAY 15-16, 2024 • LAMBEAU FIELD, GREEN BAY

WEDNESDAY, MAY 15TH

10:30AM-12:30PM

Champions Club Room

1PM-4PM

Legends Club Room

4:30PM-9PM

Johnsonville Tailgate Village

AGENCY APPRECIATION LUNCHEON Our exclusive Agency Appreciation Luncheon is a Aaron Popkey, Green Bay Packers Margeaux Giles, Irys *This event is open to agency personnel and those receiving a special invite.* Limited space available on a first-come, first-serve basis.

gathering dedicated to recognizing our valued agency personnel and esteemed invitees. Hear how the Packers prepare for the 2025 Draft, their marketing strategy and how they respond to challenging events from Green Bay Packers Director of Public Affairs, Aaron Popkey. We’ll also feature a fast-paced CEO Q&A with Irys Founder and CEO, Margeau Giles, moderated by President Mike Ansay.

E&O RISK MANAGEMENT (ETHICS)

Earn 3 Ethics CE credits during Mallory’s Less Risk. More Reward. E&O Risk Management course. This course will be full of storytelling, statistics and E&O risk mitigation tips and it is premium credit approved by Swiss Re.

Mallory Cornell, IIAW Vice President

MEET GREEN BAY PACKERS HEAD COACH

Matt LaFleur, Packers Head Coach

THURSDAY, MAY 16TH 8:15AM-9:00AM

Legends Club Room

9:10AM-10:10AM

IIAW PAST PRESIDENTS’ PANEL Mary Hosmer, Paul Leitch, Darrel Zaleski and Marc Petersen

WISCONSIN CEO PERSPECTIVES

Legends Club Room

Melissa Winter, Acuity Rob Jacques, West Bend Heather Boyer, Society Alan Ogilvie, Church Mutual

10:20AM-11:20AM

RISK MANAGEMENT PANEL

Legends Club Room

11:30AM-12:30PM

Legends Club Room

12PM-1:30PM

Pre-Function Area

12:30PM-3:30PM

North Balcony and Pre-Function Area

5PM-6PM

Atrium Floor

6PM-9PM

Atrium Floor

Local Green Bay Leaders of Risk and Crisis Management

We’ll engage in insightful discussions with our four esteemed former presidents of the IIAW, delving into their experiences and perspectives on the industry’s evolution.

Gain unique perspectives from top CEOs who lead companies within the state. Discover how these local leaders navigate emerging trends, address challenges and implement innovative strategies to shape the future of Wisconsin’s insurance industry.

Join us as we listen to local leaders in risk management and crisis management and how they mitigate their exposures. Hear how professionals plan for Packer game day events and other potential hazards that face the city and events in Green Bay.

Bob Brandon, Penn National Lisa Earnest, Progressive Kevin Leidwinger, UFG

CEO PANEL

Gain valuable insights into the insurance industry’s future trajectory from top CEOs in our CEO Panel, as they discuss emerging trends, challenges and innovative strategies shaping the landscape.

GOURMET LUNCH

Join us for a gourmet lunch prior to our Exhibitor Showcase.

EXHIBITOR SHOWCASE

Network and connect during our Exhibitor Showcase on the North Balcony, overlooking the Lambeau Field Atrium. Agency attendees can win big prizes from Super Door Prizes and by playing Blackout Bingo.

COCKTAIL RECEPTION HONORING IIAW PAST PRESIDENTS

Join us for a cocktail hour preceding the evening’s celebration as we set the stage for a spectacular night with a photo opportunity overlooking Lambeau Field.

EVENING CELEBRATION

Our Evening Celebration will feature aceremony honoring this years award winners, and we’ll pay tribute to outgoing West Bend CEO, Kevin Steiner, and Church Mutual CEO, Rich Poirier, as they receive the IIAW E.J. Tapping Award. Charles Symington, IIABA CEO will lead a presentation, and we’ll enjoy a delicious dinner as we journey through the rich history of the IIAW over the last 125 years. Charles Woodson will lead a keynote presentation that promises to leave a lasting impact.

Cap off the night with an exclusive Meet & Greet session, offering the chance to connect with Woodson.

Open to Everyone

Charles Woodson, Former NFL Defensive MVP, Heisman Trophy Winner and ESPN Analyst

FRIDAY, MAY 17TH 9AM-NOON

Gear up for an exciting tailgate party, featuring an exclusive Meet and Greet with Packers Head Coach, Matt LaFleur, an exhilarating cornhole tournament, tailgate games and dinner!

HALL OF FAME/STADIUM TOURS

Enjoy your Guided Lambeau Field Stadium Tours and Hall of Fame Tours (included w/ registration) during this time!

INCLUDED WITH REGISTRATION INSURCON2024 • MAY 15-16, 2024 • LAMBEAU FIELD, GREEN BAY Join us in celebrating our 125-year anniversary at our annual convention, InsurCon, a once-in-a-lifetime event set against the breathtaking backdrop of Lambeau Field. As Lambeau Field opens its doors exclusively for our 125th anniversary, you’ll experience its legendary aura like never before. With cheers of the past, the energy of the present and the promise of the future - all converge in this unforgettable celebration. An extraordinary year like this means you’ll receive more than ever with your event registration! You’ll receive:

An Evening With Charles Woodson

Agency Appreciation Luncheon (Invite Only) Featuring CEO Q&A and Presentation from Packers Director of Public Affairs, Aaron Popkey

Lambeau Field Atrium

Includes access to Past Presidents’ Cocktail Hour, Charles Woodson Keynote Presentation, complimentary bottle of Charles Woodson whiskey or wine and photo opportunity led by a professional photographer.

Meet Green Bay Packers Head Coach Matt LaFleur

Champions Club

Open to agency personnel, Exclusive Supporting Company Members and those who receive a special invitation. Includes access to the Champions Club (the unofficial stadium penthouse), lunch, a presentation featuring Aaron Popkey and a fast-paced CEO Q&A.

Exceptional Dining Experience

Johnsonville Tailgate Village

Includes Meet and Greet with Green Bay Packers Head Coach Matt LaFleur, cornhole tournament and an ultimate tailgate dinner.

E&O Risk Management Course (3 Ethics CE Credits)

Agency Appreciation Luncheon Ultimate Tailgate Cuisine During Tailgate Party Continental Breakfast Gourmet Lunch Overlooking Lambeau Field Evening Celebration Dinner in Lambeau Field Atrium

Guided Lambeau Field Stadium Tour and Hall of Fame Tour

Wisconsin’s Largest Insurance Exhibitor Showcase Ability to network and win BIG prizes (cash, door prizes and Blackout Bingo prizes).

Insightful Panel Discussions Lambeau Field Stadium & Hall of Fame

Legends Club Room

IIAW Past Presidents’ Panel Green Bay Packers Risk Management Panel CEO Panel

Wrapping up our annual convention with a memorable finale, join us on Friday, May 17th to redeem your guided Lambeau Field Stadium Tour and self-led Hall of Fame Tour (included with registration)! Closer to the event you’ll receive a separate registration to select your tour time slot.

MEET HEAD COACH LAFLEUR

MATT

Experience a Packers Tailgate Like Never Before When You Join Us For Our Johnsonville Tailgate Party Celebrate our monumental 125th anniversary at the heart of the action - Lambeau Field’s Johnsonville Tailgate Village on Wednesday, May 15th. Get ready to meet Green Bay Packers Head Coach Matt LaFleur, compete in a cornhole tournament, enjoy our DJ for the evening and an excellent dinner.

• •

Schedule for the evening: 4:30PM to 6:30PM Meet and Greet 7PM-9PM Dinner, Cornhole Tournament, Tailgate Games and DJ

REGISTER NOW: IIAW.COM/INSURCON

KEYNOTE SPEAKER INSURCON2024 • MAY 15-16, 2024 • LAMBEAU FIELD, GREEN BAY

An Evening With Charles Woodson Charles Woodson is an 18year NFL veteran, former NFL Defensive MVP and Heisman Trophy winner. He is a Super Bowl champion, nine-time Pro Bowl defensive back and was inducted into the Pro Football Hall of Fame in 2021.

CH A R LE S WOOD S ON Former NFL Defensive MVP, Heisman Trophy Winner and ESPN Analyst

A champion both on and off the field, Charles has also formed the Charles Woodson foundation, providing scholarships to incoming students at the University of Michigan in need of financial aid. Additionally, Charles has pledged over $2 million to the University of Michigan C.S. Mott Children’s Hospital and established the Charles Woodson Clinical Research Initiative to support critical research projects that show promise of significant improvements in kids’ quality of life and longevity.

Woodson is also an oenophile who developed an interest in wine while playing football for the first time in Oakland, near the Napa Valley. He partnered with O’Neill Vintners to develop a signature wine label, “Charles Woodson’s Intercept.”

Don’t miss out on hearing Charles’ Keynote Presentation, concluding our Evening Entertainment on Thursday, May 16th. Following his presentation, you’ll be able to take home a bottle of his wine or whiskey (included with your registration) and there will also be a photo opportunity with Charles led by a professional photographer.

Scan the QR Code to see Charles’ message to InsurCon2024 attendees!

Serving Wisconsin employers of all types and sizes In 2023, SFM wrote over 1,100 new policies totaling over $8.5 million in Wisconsin, including: Healthcare/Social Services Assisted Living Nursing Home Group Homes Assisted Living Non-profit Social Service Home Health Group Home Assisted Living

$300,000 $143,000 $97,000 $62,000 $61,000 $51,000 $15,000 $11,000

Trucking/Transportation Mail Service Milk/Dairy Hauling Local Trucking Equipment/Bin Hauling Local Delivery Long Haul Trucking Courier Services Non-Emergency Trans

Prefab Truss & Wall Mfg. Plastics Mfg. Metal Fabrication Equipment Distributor Machine Shop Tool & Die Wood Products Mfg. Welding

$97,000 $97,000 $90,000 $86,000 $68,000 $45,000 $28,000 $16,000

Small Business < $10K premium $441,000 $178,000 $86,000 $85,000 $68,000 $61,000 $36,000 $22,000

Food/Agriculture Poultry Products Dog Food Mfg. Dairy Farm Feed Mfg Grain & Bean Dealer Crop Farm Dairy Farm Farm Supplies

Manufacturing/Distribution

Group Home Trucking Hotel Restaurant Home Health Marina Farm Lawn & Garden

$9,700 $8,800 $8,500 $7,500 $6,800 $6,700 $5,800 $1,700

Accounts taken from the Pool $431,000 $300,000 $123,000 $108,000 $63,000 $61,000 $11,000 $5,100

Refuse Dealer Daycare Group Home Local Trucking Bank Laminated Beam Mfg Grocery Store Sheet Metal Mfg.

$37,000 $36,000 $32,000 $28,000 $26,000 $20,000 $14,000 $13,000

Visit sfmic.com or contact your SFM underwriter to learn more © 2023 SFM Mutual Insurance Company. All rights reserved.

adv-212-1223

FROM THE ARCHIVES

FROM THE ARCHIVES

This brochure was originally published in 1965.

PERSONAL LINES

COSTLY COVERAGE MISTAKES Simple Mistakes Can Be Costly to Your Clients and Your Agency Everyone occasionally makes mistakes, and many missteps arise from insureds tempted by the notion that cheaper and faster insurance quotes and coverage is better for them.

With social and economic inflation at the forefront of today's insurance claims costs, Swiss Re, our errors & omissions (E&O) insurer, calls this “The Year of the Customer." Post COVID restrictions, Swiss Re risk management experts recommend reconnecting with insureds you may not have communicated with in some time to reeducate clients about their coverage options.

Here are some of the top tips you can use to coach your clients and help you avoid an errors and omissions claim.

Making and Accepting Late or Direct Bill Payments Remind your insureds that there may not be a grace period for a late payment, and never come between your clients and their direct bill payments to the carriers. According to consultant Cheryl Koch, “It's called direct bill for a reason."

If you insert yourself in the payment process, and the insurer cancels that policy for a late payment, you expose yourself to liability, according to Koch.

Recommend your clients sign up for electronic fund transfer (EFT). Even your clients who shun technology should take this opportunity, because they have many added benefits to an online account such as some risk management tools many carriers offer.

Remind your clients that if they pay late more than a time or two, they may lose any premium reduction for timely payments, or if they've had a loss or two, the carrier may not accept the payment or may nonrenew.

Additionally, in rural and low-income areas, many clients still pay cash.

18 | FEBRUARY 2024 |

wisconsin INDEPENDENT AGENT

Often, those payments are late, according to Koch. Who gets the blame? Your agency will since the payment is in your office.

Many agencies today refuse to take client payments. Before taking this position, there is another side to consider.

According to Virginia Bates, a licensed insurance adviser in her home state of Massachusetts, "In the collection of premium, the agent (or even broker) is legally the carrier, in that the agency or broker is at that time representing the carrier (the insured is not "paying the agency"; they are paying their carrier in good faith into the hands of the agent/broker). The agency, therefore, cannot legally refuse a payment if it is on time, just as the carrier could not legally reject an on-time payment. If the agent (or broker) refuses the payment and there is a loss, the carrier would recognize the policy as cancelled (since they never got or heard about getting, the payment and would deny coverage. The insured would say, 'I tried to pay and they refused to take it' and could then most likely sue the agency - and win."

It is her opinion that agents and brokers must accept ontime payments on behalf of the carrier and then, of course, notify the carrier immediately and get the money to the carrier asap. If you do accept a timely payment from a customer, inform the carrier immediately and ensure you send the money to the carrier immediately, as well.

Also remind your clients of the dangers of a policy lapse for non-payment. These include the following.

• The insurer may charge to reinstate the policy due to the coverage lapse.

• The reinstaement may include surcharges for accidents or violations unknown at the policy's inception.

• The insurer may re-underwrite or review the account, and reject the reinstatement, leaving the insured searching for new coverage.

• Any lapse in coverage means your insured may face an uncovered loss. Especially in states where weather plays a role in insurance premiums, no one wants to

face a coming storm or flood without the appropriate coverage.

Making automated payments through EFT is a solid solution for all your clients. Also, warn your clients that you do not contact them if they receive late payment or lapse notices, not even if they're related to you. This will go over like a lead balloon with your cousin or sister, but if you call to prompt one client, you must contact them all. Since carriers do not always notify agencies about upcoming cancellations, reminding your clients of cancellation can be a dangerous precedent.

Decreasing Coverage Limits or Coverage Options to Reduce Premiums The “cheaper/faster is better" that proliferates insurance advertising today can create challenges for today's independent agents. If your insureds obtain quotes from direct writers, for example, do they offer you a chance to compare that quote and its coverage with their current coverage? While your client may save money in the short term, once a loss occurs, they may find they're badly underinsured.

Additionally, each year, homeowners may add features such as charging stations for electric vehicles, expensive jewelry or art, or other items like a trampoline or even a protection dog. These items not only create additional liability, but these changes may also increase the home's value well beyond their current insurance limits.

Approach this “faster is better/cheaper" approach with reminders to your clients that insurance is not a commodity governed by price. Social media posts, emails, newsletter articles – all these methods should remind your insureds of the value-added services you and your agency provide.

Make this your agency's “year of the client" with frequent updates and recommendations.

Changes in Occupancy Has your client had a change in occupancy? Events can occur that change the occupancy of one or more buildings or residences. For example, your insured may have rented out that summer home, or turned it into a short-term rental.

Perhaps a relative died and your insured is handling the estate creating a vacant premises. A commercial building's tenants may have vacated, creating occupancy issues under the commercial property policy.

Remind your insureds that any change in occupancy can reduce or eliminate coverage.

Are Your Client's Liability Limits Adequate?

In today's world, it's very easy to blow through limits of $100,000 or $300,000 if someone is seriously injured on your client's property or your insured is in an at-fault auto accident.

According to the Insurance Information Institute, the average cost to settle a dog bite claim in 2021 was $49,025.

Additionally, some insurers exclude certain dog breeds, or place sublimits on canine-related incidents.

Your clients with dogs may consider a standalone canine coverage if they face breed restrictions, or just want additional peace of mind for their pugnacious pooch.

Remind your insureds (and document those reminders) of how quickly a claim can devastate their liability limits, and how affordable umbrella coverage remains, both for personal umbrellas and commercial umbrellas. Where else can they buy peace of mind for a few dollars a month?

Do Your Clients Need to Reconsider Flood Insurance?

“Congress mandates that federally regulated or insured lenders require flood insurance for all buildings located in a Special Flood Hazard Area (SFHA) with a federally backed loan," according to the Federal Emergency Management Agency (FEMA) website. Unless your clients live in an SFHA, their lenders won't normally require flood insurance.

However, FEMA classifies only 8.7 million properties with “substantial risk," or located within SFHAs. First Street Foundation finds nearly 70% more properties (14.6 million) with the same level of flood risk. Their complimentary, online tool offers your clients the opportunity to calculate their flood risk. At their Risk Factor site, your clients enter their address to calculate their estimated flood risk. As a bonus, it also calculates their wildfire, wind and extreme heat risk.

Repairing flood damage is expensive. Another complimentary tool you can offer your clients is FEMA's Cost of Flooding calculator. With only two inches of water, the calculator estimates the damage to your client's home at $26,892. Can your client afford that cost alone?

Warn your clients of the waiting period for most flood insurance policies, so they shouldn't wait until the approach of a major storm before investigating coverage.

Remind Your Clients to Call You Before They Change According to Statistica, 44% of consumers aged 18-to-29 years bought insurance online in 2021. For those aged 30to-49 years, the percentage was even higher – 52%.

Frequent reminders on your blog posts and social media outreach recommending people avoid the temptation of buying insurance online can help keep your clients loyal and well informed. It can also bring in new clients who may want to talk to an agent before they buy.

Because you don't want all your communications to seem like a sales push, add some other interesting facts in your communications, as well. The more you communicate with your clients about coverage gaps, limitations and limits, mixing in a little fun like a meme or recipe, the greater your chance you'll avoid an E&O claim, and keep customers on your client list.

This article was originally posted on independentagent.com in March 2023.

> Nancy Germond, Executive Director, Risk Management and Education, Big 'I' wisconsin INDEPENDENT AGENT

| FEBRUARY 2024 | 19

RISKY BUSINESS

THE LIFE OF AN INSURANCE AGENCY AUDITOR For almost seven years, my life has centered around partnerships with independent insurance agencies. As the daughter and granddaughter of former independent agents, I love this industry and do not consider this “just a job.” As an auditor for SwissRe, it has been my pleasure to help mitigate E&O exposures by reviewing agency operations and recommending updates.

First and foremost, I always tell agencies that my process is not a “gotcha!” and never consists of “everyone else does this, so you should too.” If I could write a book on how to run an independent agency, I’d be sitting on the beach sipping pina coladas right now. But the truth is, there is not a one-size-fits-all approach. Each agency is unique, and its business decisions vary. A couple of easy updates come up often, as well as those that take a little more time, effort, and sometimes money.

1. You Gotta Have Standards!

If you’re reading this, you probably know that state minimums for insurance don’t match most claims' costs. Many agencies I have worked with tell me they generally have a minimum coverage standard they recommend. The problem is that everyone’s recommendation is different, or it doesn’t exist.

The solution: Develop written Minimum Coverage Standards by line of business. It’s a quick and easy way to identify the agency-wide standard and whether it will write limits below it. For example, your state minimum auto insurance requirement is $25,000/$50,000/$25,000. The agency has decided it will recommend $250,000/$500,000/$250,000 to all clients. If a client declines these limits, the agency will only go as low as $100,000/$300,000/$100,000, and the customer must sign an acknowledgment stating these limits are lower than those recommended by the agency. (Note: some agencies have decided that they will NOT write lower than their standard and will tell clients to find another agent if they want lower coverage limits).

2. You Do WHAT for Your Customer?

One of the key pillars to my work in mitigating E&O exposures is to enhance the customer experience.

20 | FEBRUARY 2024 |

wisconsin INDEPENDENT AGENT

A customer who understands their insurance and knows their agent/agency is a happy customer who likely also has strong coverage. So, while customer service is important, so are parameters for a customer’s relationship with the agency. Too much time with a personal lines client could mean losing money, while not enough time with a commercial client could increase the likelihood of that client finding a new agent.

The solution: Start by segmenting your clients by line of business. The most common way to do this is by identifying a premium threshold based on your current customers. Once established, determine customer touchpoints, timelines for contacts and responses, and any additional services they may be eligible for. Example: Commercial Lines customers over $100,000 in premium receive a six-month check-in, their renewal process starts 120 days in advance, and they should be offered additional loss control services annually. Personal Lines customers with a total premium under $10,000 receive an email notification 60 days before renewal and no additional service offerings.

3. Retention at Renewal During the operational review, I will focus on the renewal process. Every customer segment should have an outlined timeline and documented touchpoints for the renewal, but this doesn’t always seem to be the case. Typically, large commercial clients get the time and attention needed due to the premium. Small commercial clients and Personal Lines clients tend to be a different story. Do you find yourself high-fiving your colleagues for autorenewals with no major premium increase? I’m sure you do!

BUT…don’t forget the importance of offering a renewal discussion for clients. If their exposures have changed and you’ve never asked, this could lead to some E&O concerns. It could also lead to upselling and cross-selling opportunities.

The solution: Please do not think it is the customer’s job to know they should contact you. Your website likely says something about ensuring your customers have the insurance they need.

A mediocre attorney could likely find a way to use this against you if your customer has an uncovered loss. There are some quick and easy ways to defend yourself through attempts to reach out for reviews.

The easiest way to show you tried maintaining contact and up-to-date information is to send a letter or email inviting them to a discussion. “Your insurance renewal date is coming up, and our goal is to ensure your coverage matches your needs. If you have had any changes in your household, such as a new driver, home improvements, or household changes, don't hesitate to contact me. If I do not hear from you within 30 days, I will proceed with your renewal using our information on file.”

4. Technology and Automation: A bigger discussion I cannot exclude one of the most common discussion points that arise during an operational audit: technology and automation. The list of tools and software available in our industry is endless and can seem daunting. It can also be fun! One of the best places to go to explore your options is www. catalyit.com. My biggest piece of advice? Get your foundation right first. You cannot build a tech stack on an inconsistent and shifting base.

You need not sacrifice customer service to run more efficiently and use technology. Find an email automation solution for personal lines renewal touchpoints. Set up activities and workflows in your agency management system to streamline the process. Consider recording employee training modules from the comfort of your desktop. Start small and get comfortable. And finally, bring your team around the table to discuss any initiatives you are looking to update. Having more employees buy in from the beginning will help with implementation and adoption.

The insurance industry is in constant growth and opportunity, and your Big I membership provides access to resources to help you thrive amidst these changes. I invite you to explore and be open to learning a new way to do business. The tools are out there to use, and we look forward to working with you and your agency.

Cheers to one of the best industries filled with wonderful and hard-working people!

The solution: Identify areas of the agency that are manageable and could be automated.

> Mallory Cornell, Vice President, IIAW

Small Business Insurance The traditional coverage your clients need.

The customized options your clients desire.

The affordable price your clients deserve.

We’ve been successfully protecting small businesses since 1983.

Browse all of our products at www.guard.com.

ERRORS & OMISSIONS

KEEPING IN TOUCH WITH CLIENTS THE VALUE OF A PRE-RENEWAL EMAIL While growing and selling new business is important, an agent must stay in touch with existing policyholders throughout their policy term. Agencies may send holiday or birthday cards, newsletters, or testimonial requests, to clients to stay connected and build a stronger relationship. However, the greatest value from a client touchpoint can result from a pre-renewal email. There are various benefits to a prerenewal email – let’s dive into how a pre-renewal email can create value.

Mitigating E&O Risk Agents can help reduce their E&O exposure by asking the client in a pre-renewal email if they have any changes in their exposure that may impact their insurance. It’s important to offer examples to remind the client of the variety of changes that could impact their insurance including adding or deleting drivers, improvements or acquisition of property, new ATV/snowmobile, etc. By proactively asking about changes in exposure, an agent allows the client to update the carrier on any changes they have. The agent can also document their attempts to update the client’s exposure information. A strong defense against a future E&O claim, regardless of whether the client responds.

22 | FEBRUARY 2024 |

wisconsin INDEPENDENT AGENT

Creating a Smooth and Standardized Renewal Experience After establishing a standard renewal process, agents can have at least one touchpoint with each policyholder before their renewal date. If the insured is looking to add coverage or shop their coverage, proactively reaching out with a pre-renewal touchpoint gives an agent enough time to maintain a smooth renewal without the time crunch. In addition, this touchpoint is from the agent/agency and not the carrier. Suppose an insured decides to shop their insurance at renewal. In that case, a separate touchpoint can help the insured realize they have options with other carriers but can stay with the same independent agent.

There are a variety of other benefits including, but not limited to, cross-selling and upselling opportunities, improved retention by showing the agency is thinking about their clients, time savings by reducing the likelihood of remarketing, and more.

Looking for a sample pre-renewal letter? bit.ly/prerenewalemail

Now, you might think, “There is not enough time to reach out to every client at renewal.

How can this be done?” Technology is the answer. There are a variety of email automation platforms that can automate pre-renewal and renewal emails and even integrate with agency management systems. Some popular systems include: AgencyZoom, Levitate, ClientCircle, Agency Revolution and Applied Marketing Automation.

For a full list of options, take advantage of an IIAW member benefit and visit Catalyit. All IIAW agency members receive access to Catalyit for free as part of their membership! You can learn more about email automation platforms at catalyit.com/marketingautomation.

an issue in the event the carrier changes the coverage, terms or conditions in the renewal policy.

Instead, an agency could say, “If we do not hear from you within [xx] days, we will proceed with your renewal with the information we have on file.”

If you are looking for additional guidance on creating standardized processes for renewals, please feel free to reach out to the IIAW. One of the many member benefits is helping agencies mitigate E&O risk by creating consistent processes, enhancing the customer experience, and driving efficiency throughout the organization.

If an agency is already sending out a prerenewal email, make sure it does not say, “We will renew as is,” or, “We will renew with the same terms and conditions,” as this could cause

> Evan Leitch Agency Solutions Advisor, IIAW

Voted on by our Employees, Robertson Ryan was recognized as a 2023 Top Workplace by the Journal Senঞnel.

Robertson Ryan Insurance Join our Team - More Markets. Bigger Return. Proven Success Learn More: Chris Illman | cillman@robertsonryan.com | 800-258-0277 | www.robertsonryan.com/agentowner

COMMERCIAL LINES

WHY DO INSURANCE POLICIES HAVE EXCLUSIONS? Exclusions are “provisions” in an insurance policy that outline the following not covered by the policy.

recommend other coverage. The six reasons we outline will fit almost any example of why the insurer added the exclusion.

Hazards Perils Circumstances Property A policy “provision” is simply wording or clauses within any policy that outline the reasons the insurer provides or does not provide the coverage.

For example, the CGL policy excludes employment actions, for example, protection for an allegation of a wrongful termination. These are professional liability losses and need special investigations and unique coverages.

You’ll find policy exclusions usually in the cause of loss or coverage forms in the various policies, or in a separate section of each policy under the heading “Exclusions.”

Insurers use exclusions to reduce their risk and to avoid paying claims either for uninsurable losses such as certain catastrophic losses such as war, or to avoid paying losses for claims best covered under other policies.

For example, the commercial general liability (CGL) policy does not cover injuries to the insured’s employees because workers’ compensation coverage is the policy that specifically tailors and provides coverage for those types of losses.

However, you can remedy that exclusion by offering your insured employment practices liability coverage, and documenting that offering if they refuse to purchase it.

Some exclusions, however, you cannot remedy.

For example, most policies exclude intentional acts of the insured. There may not be a remedy for that exposure when an insured acts with malice. For example, your insured has a fight with a neighbor because the neighbor comes onto the property to pick fruit off the insured’s tree. The insured sets a trap for the neighbor, who is seriously injured and files suit against your insured. Insurers do not intend to cover these types of intentional acts, nor is there any policy on the market that would cover your insured.

Exclusions exist to keep insurance affordable, because if the homeowners policy covered every risk without exclusions, it would be too expensive Your insureds may ask you why a certain exclusion to insure the broad band of policyholders who exists in their policy. In some cases, you can need the coverage.

24 | FEBRUARY 2024 |

wisconsin INDEPENDENT AGENT

Six Primary Reasons for Policy Exclusions Let’s review the six primary reasons for policy exclusions.

1. Another policy better covers the peril or property.

As in the example above regarding the CGL and employment actions, there is another policy that covers the situation – the peril or property – by another policy. Earthquake is another peril excluded in property policies, best addressed by offering separate earthquake coverage.

2. The loss or damage is catastrophic in nature.

To be insurable, a risk must be “particular” in nature. Particular means particular to the insured, not affecting a large portion of the population.

For example, an insurer would exclude damage from a nuclear release because it would affect a large swath of the population and hence not be particular to just one insured.

3. The loss or damage is not accidental or unforeseen.

This is where the intended acts of the insured come in as an exclusion. While in the CGL there is no exclusion for “intentional acts,” there is an exclusion for expected or intended injury.

If you intend the outcome of an injury, the carrier may exclude that act, for example if the insured gets in a fistfight with an angry customer. Self defense may make the act insurable. It’s a fine line and requires a unique claims investigation and sometimes even an outcome of a criminal action before the courts affirm or deny coverage.

4. The insurance carrier is willing to provide coverage; they just want more information and more premium.

Insurers design standard policies for the average consumer. However, virtually every client has some unique exposures. Sometimes carriers are willing to offer that coverage, for example, higher limits on law and ordinance coverage. Then they can more closely underwrite and rate the coverage appropriately.

5. The insurance carrier wants to control the amount of coverage granted.

There are exceptions to some exclusions, but insurers want to limit the amount of coverage they do provide. For example, when a property policy excludes collapse, they will often provide a “however” amount of coverage for certain types of collapse. It’s easier for the carrier to take away coverage and then give it back for certain types of collapse. This is common in the CGL with contractual liability, as well. They give back coverage only for the types of contracts they’re willing to coverage, such as a lease agreement.

6. The loss is the result of a “speculative” or business risk.

Carriers design policies to provide coverage for pure risk. With pure risk, one of two things happens. For example, a house either catches fire or it does not catch fire. This is what insurance intends to cover. With speculative risk, something bad or nothing may happen, or the insured may actually gain. Insurers do not design standard insurance policies to cover speculative risks.

These are the six primary reasons exclusions exist. They are a necessary component of the policy.

Best Practices for Managing Exclusions It’s important that you review exclusions with your insureds and especially important when you switch insurers that you point out any new exclusions not on the previous policy. Often when you move coverage from Insurance Services Office forms to proprietary forms, exclusions or exceptions to exclusions change.

In many cases, reviewing the exclusions provides you with an opportunity to sell the appropriate coverage.

This article was originally published on independentagent.com in January 2024.

> Nancy Germond, Executive Director, Risk Management and Education, Big 'I' wisconsin INDEPENDENT AGENT

| FEBRUARY 2024 | 25

In 1919, A group of Pennsylvania farmers founded Penn National Insurance to provide affordable workers’ compensation insurance.

Today, Penn National Insurance sells property-casualty insurance in 12 states by partnering with more than 1,200 independent agency operations. In 2012, we affiliated with Wisconsin-based, Partners Mutual Insurance Company. As one company, we bring the personal attention and local focus of a regional carrier, along with the quality of products and services of national carriers.

Interested in partnering with a thriving insurance carrier with superior customer experience? We are looking for seselect commercial lines-oriented agencies in Wisconsin.

Contact: Vicki Lentz 262-432-3420 vlentz@pnat.com

Contact: Clayton Zogata 715-383-5454 czogata@pnat.com

We help people feel secure and make life better when bad things happen

An Equal Employment Opportunity/Affirmative Action Employer ©2023 Penn National Insurance

Policies issued for domiciled businesses and individuals in Wisconsin and Iowa are underwritten under our affiliate, Partners Mutual Insurance Company.

• Strong financial performance and A.M. Best Financial Strength Rating of A (Excellent) Positive Outlook • Expanded Commercial Lines products and services with competitive pricing and comprehensive coverages to help our agents grow profitably • Comprehensive Personal Lines product offerings, including Homeowners Equipment Breakdown and additional protection plans • State-of-the-art quoting, processing and self-service tools, making it easier and faster to meet your customers’ needs • Local, experienced underwriting, claims and management staff

FINANCE

MAXIMIZING OPPORTUNITIES IN A HARD MARKET Due to factors like inflation, unpredictable weather patterns, and rising litigation costs, the insurance industry has been facing a hard market for several years.

The rising increase in premiums and claims has kept insurance agents busy managing higher workloads as they strive to retain clients and negotiate with insurance carriers. However, there are opportunities for agents to advance in this market.

Be wise about maximizing this increase in profits and consider the following possibilities: Bank your money for a later expansion or acquisition.

Are you earning more profits recently and want to make the most of the present increase? If you are hoping to expand your agency in the future, bank this money now and save it for an potential future acquisition. This will potentially help make the acquisition or buyout simpler and less expensive when the time comes. Talk to your banker on how to best save or invest these extra funds to be ready for when you need it.

Employ more staff.

The hard market could be more profitable, but you are probably going to have to put in extra work. More claims, means more negotiating with your carriers and having conversations with clients. Being proactive about letting your clients know what to expect, will lead to more loyalty. Ease the workload and consider adding additional team members and in turn grow your agency.

liability of regular trips to the bank and more. Meet with the Treasury Management Team at your financial institution to learn more about these services.

Find ways to use your money more efficiently.

Do you know all of the financial services available and at your fingertips? And more importantly, are you taking advantage of these services that could add value to your agency? Put your money to work for you offering earnings credits, sweep services, and fraud detection tools. If you are interested in how these services can help your agency grow, reach out to your banker today.

Talk with your cash management support team on what is best for you during this learning experience. If you are not utilizing cash management to make your money work for you, SFB’s Treasury Management Team is happy to meet with you. Schedule an appointment here: bit.ly/3SFTjDR. Curt Van Auken is a relationship manager for Security Financial Bank (SFB), a Wisconsin financial institution that specializes in lending to insurance agencies. SFB has helped numerous insurance agents with their banking needs, including acquisitions, partner buyouts, building expansions, and refinancing projects. For more information, contact Curt at cvanauken@sfbank.com or 715.930.7021.

Invest in technology upgrades.

Technology is ever evolving and being up to date on all the new equipment will increase your efficiency and precision. Upgrade your systems to better meet the needs of your clients and carriers. With remote deposit and mobile scanning services, you can improve your agency's cash flow, eliminate the cost and personal

> Curt Van Auken Relationship Manager, Security Financial Bank wisconsin INDEPENDENT AGENT

| FEBRUARY 2024 | 27

TECHNOLOGY

GMAIL, YAHOO IMPLEMENTING NEW REQUIREMENTS FOR BULK EMAIL SENDERS Starting in February, Gmail and Yahoo are implementing new stringent requirements for bulk email senders, marking a significant shift in email validation, affecting whether your emails will be blocked. These platforms (and others will likely follow) are mandating email authentication, making it essential for senders to verify their identity to avoid having their messages marked as spam or not delivered.

Spoofing, a deceptive practice where the ‘From’ address of an email is forged to make it appear as if it’s from a different organization or domain, poses a significant threat to email authenticity. To combat this, DomainKeys Identified Mail (DKIM) is used. DKIM helps detect any modifications to email messages and unauthorized alterations to the ‘From’ address, ensuring the message’s integrity.

Without DKIM validation, emails have a higher risk of being flagged as spam by receiving mail servers, compromising their deliverability and trustworthiness.

Symantec reports that 85% of all emails are spam or malicious, and email volumes have doubled since the pandemic. Google is leading the charge in closing these loopholes exploited by spammers by 28 | FEBRUARY 2024 |

wisconsin INDEPENDENT AGENT

focusing on verifying sender identities. This will reduce the clutter in users’ inboxes and improve overall email security. You need to check with your tech people and with your email service provider to verify that DKIM has been set up on your email systems.

Check with your marketing platforms, like AgencyZoom or Agency Revolution, to see how these changes will affect your agency marketing efforts.

> Steve Anderson, CEO & Co-Founder, Catalyit

Catalyit puts expert tech advice at your fingertips. IIAW agency members receive a free one-year Full Access Subscription to Catalyit.com. Visit iiaw.com/catalyit for more details and to gain full access today!

Everything.

Lots of companies make promises about how much your client can save if they switch their business insurance.

Well, here’s our promise – they can save everything.

Every memory. Every detail.

Everything they’ve worked hard to build.

Protect what’s important for your client with a policy from an insurance company you can trust.

The worst brings out our best.®

MARKETING

HOW INDEPENDENT AGENTS CAN CREATE AN EFFECTIVE HOMEPAGE The internet is enormous. How can your independent insurance agency stand out from the crowd or attract relevant visitors? If you’re not an experienced website developer or designer, which most small business owners (understandably) are not, it can be even more difficult to determine the best site strategy.

Far too few independent agencies leverage their websites to grow their sales or interact with customers—although that is changing thanks to the COVID-19 pandemic, which forced businesses to establish stronger online presences.

Nearly all—98%—of small businesses have a website today, compared to 71% in 2021 and only 50% in 2018, according to studies from Expert Market. However, 21% of business owners report having low website traffic, “which poses a significant challenge for their online presence” and can “impact their ability to attract and retain customers, as well as their revenue and overall success,” says small business coach Kathy Haan, writing for Forbes Advisor.

Agency Websites Play an Important Role Having an effective web presence is critical for every kind of small business, but particularly for independent agents who rely on sales leads and word-of-mouth referrals. Your firm’s website is your brand representative. It’s an essential marketing tool. It provides current and potential customers with valuable information about your agency and what products and services you offer. And it’s an important online “office” where you can showcase your excellent staff.

Most importantly, your site should function as an effective lead capture tool, which means that the homepage must be optimized to grab a prospect’s attention, pique their interest in your agency, and provide a low-touch mechanism for contacting you for more information. You might tell yourself that your agency is “referral only” and “we really don’t need marketing.” But remember: Your customers and centers of influence might refer a great prospect to you.

30 | FEBRUARY 2024 |

wisconsin INDEPENDENT AGENT

They will search online for your agency and they’ll see your website, probably via their smart phones.

What will they see? Will they be impressed? Will they be interested in following up? How will you know if they don’t? Are you okay with these missed opportunities for sales?

Here are some tips for creating an effective homepage to attract prospects and customers to your independent agency website: 6 Keys to a Successful Homepage 1) Headline Marketing experts across all industries agree that the most important content on your website is the headline. People have short attention spans, and they are getting shorter; in fact, you have about three seconds to capture a website visitor’s attention, according to HubSpot. Your headline should clearly and simply communicate who you are and how your agency can solve the customer’s problem.

Including insurance keywords about what your agency offers in your headline and sub-headline can improve your chances of showing up in a Google search by a potential customer.

2) Navigation Your homepage should have a clean, organized design that enables website users to easily find what they need. A cluttered website that is difficult to navigate is likely to have a higher bounce rate—the metric for the percentage of people who leave the site after viewing only one page.

In general, a higher bounce rate means people are not staying on your website to view other pages.

Your homepage should feature colors that allow for maximum readability and a highly visible menu bar, preferably on the top third of the page, that lists the other website pages with valuable information.

A utility bar at the very top of the page can highlight quick links to “Request a Quote,” “Log In to Customer Portal,” and a phone number.

Your homepage should be optimized to work on any device, such as a laptop or cell phone. Nothing will take people away from your site faster than a webpage that doesn’t load or display properly.

3) Images Not only are images essential for telling your agency’s story and supporting your messaging, but they can improve your website’s chances of being found when a potential customer does a search.

Photos or videos of your actual staff are best, as they help illustrate who you are and help visitors feel a connection to your firm. You also don’t have to worry about potential copyright infringements.

Avoid generic images if you can, but if you do plan to use them, purchase from a reputable stock image provider, such as Shutterstock.com, to ensure you are not inadvertently stealing someone else’s material.

4) About Us Section This page is critical. Most visitors are trying to quickly validate what they already may have heard about your firm, as well as trying to reach out to someone.

Include a short bio at the top of your page detailing your team’s insurance expertise, what your agency specializes in, and who you are personally. This can provide a positive first impression, help instill confidence in your business, and encourage visitors to stay on your website to learn more or take an action, such as contacting you.

Here, too, you could show photos of your staff out in the community, interacting with others at events or service projects.

5) Client testimonials and case studies Statements from actual clients and quantifiable case studies that speak to your agency’s character and describe how your firm has helped solve their problems are impactful and eye-catching for website visitors.

Testimonials and case studies also add credibility and could be the difference-maker between whether a potential client decides to contact you or not. On the homepage, these testimonials and mini case studies should be short one- or two-line quotes and quickhitting results.

Don’t write long blocks of text that overwhelm the reader. Featuring current clients on your website is also an excellent way to maintain a good relationship and earn potential referrals.

6) Strong call to action.

What do you want website visitors to do? Focus your call to action on a benefit of using your agency to prompt website visitors to contact you with questions, obtain an insurance quote or find out more information.

Your contact details, including phone number and email address, are the most obvious to include. You also may want to offer an online chat feature (only if it will be monitored and provide a prompt reply) or an online contact form.

Be sure staff is prepared to handle contact forms— don’t let them go into a black hole, as you’ll ensure losing a prospect.

Links to your social media pages offer another engagement option and may encourage visitors to learn more about you and your business.

Ask for Help The only thing worse than not having a website is having an ineffective one, so if you aren’t confident that you can create an engaging website in-house, get help. Website design resources are available on the internet. You also may be able to find an affordable web designer—even a marketing student from a local college—in your area who can help you deploy the right website strategy.

Choose an expert who also can provide good search engine optimization (SEO) techniques to drive visitors to your site once it is up and running.

Your business homepage ultimately should serve as a window into your agency’s brand. It should show a potential customer what sets your agency apart from your competition. Most importantly, it should demonstrate how working with your agency will meet their insurance coverage needs, making their lives better.

This article was originally published on trustedchoice.independentagent.com.

> Mia McGowan, Marketing Coordinator, Trusted Choice

GOVERNMENT AFFAIRS

WISCONSIN INSURANCE COMMISSIONER APPOINTS NEW DEPUTY COMMISSIONER

OCI Press Release

Rebecca Easland Deputy Commissioner

Today, the Wisconsin Office of the Commissioner of Insurance (OCI) announced the appointment of Rebecca Easland to serve as Deputy Commissioner.

Deputy Commissioner Easland most recently served as Senior Policy Advisor with the International Association of Insurance Supervisors (IAIS). During her time with IAIS, she assisted in the development of the global Insurance Capital Standard, worked with the Macroprudential Committee, and provided project management support to the Policy Development Committee. Prior to joining IAIS, Deputy Commissioner Easland worked at OCI for over 15 years as a Financial Examiner and the Director of the Financial Analysis and Examination Bureau.

“We are fortunate to have a talented and dedicated leadership team at OCI, and I am

excited to welcome Rebecca Easland back to OCI to help us fulfill our mission of protecting consumers and ensuring that our insurance market remains strong and competitive," said Commissioner Houdek.

Deputy Commissioner Easland will be responsible for managing the day-to-day operations and supervising the regulatory and administrative responsibilities of OCI. “Over the past few years, I've had the opportunity to expand my insurance regulation experience from an international perspective. I'm excited to bring my skills home to Wisconsin, reconnect with the OCI team and address the evolving challenges facing the insurance industry," said Deputy Commissioner Easland.​​ For more information contact Sarah Smith, Director of Public Affairs, (608) 209-6309 or sarah.smith2@wisconsin.gov.

nice

makes you smile.

At Western National Insurance, nice is what’s guided us for over 100 years. And we’re just getting started.

Western National Insurance. The power of nice. www.wnins.com

JOIN THE IIAW’S

EMERGING LEADERS Who We Are The IIAW Emerging Leaders is a statewide network of insurance professionals striving for professional growth through education, leadership development, legislative involvement and insurance career perpetuation. The group hosts a variety of in-person and virtual events throughout the year to allow members to learn, network and grow professionally.

The IIAW Emerging Leaders is committed to offering best-in-class professional development and networking opportunities for insurance professionals across the state.

Who Should Join Young insurance professionals who are looking to enhance their career and build relationships within the industry.

What We Do We create experiences to help members build their careers and integrate best practices.

We develop meaningful relationships between agents, carrier representatives and association members.

We provide unique professional development opportunities (industry simulations, personal development, speakers, webinars, etc.).

We engage future industry decision-makers in events and volunteer roles.

Join Today To join scan the QR code, visit iiaw.com/emergingleadersgroup or email evan@iiaw.com.

34 | FEBRUARY 2024 |

wisconsin INDEPENDENT AGENT

MAKE YOUR VOICE HEARD

Donate to Insuring Wisconsin PAC today!

Ensure your best interests are represented in the hall of the state Capitol.

Your state political action committee plays a role in the IIAW’s legislative success and empowers members to participate in the political process.

Visit IIAW.COM/GOVERNMENTAFFAIRS to donate to Insuring Wisconsin PAC today.

wisconsin INDEPENDENT AGENT

| FEBRUARY 2024 | 35

News

SECURA INSURANCE NAMED A GREAT PLACE TO WORK

Members in the

ACUITY'S COMMUNICATION PROJECTS RECOGNIZED FOR CREATIVE EXCELLENCE

Sheboygan, WI (1/3/24) - Acuity Insurance announced that several of its communication projects have earned awards for creativity in national and international competition in 2023: Educational Video Awards—Acuity’s continuing education videos earned several awards: • Acuity Retail Tonight – Platinum Hermes Award and Gold AVA Digital Award • Ethics: Fire and Fraud – Platinum AVA Digital Award • Up Close and Personal – Gold AVA Digital Award • Agent IQ: Battle of the Agencies – Gold MarCom Award • When Disaster Strikes – Gold Hermes Award and Gold MarCom Award • Time Element at Acuity High – Hermes Honorable Mention and AVA Digital Honorable Mention • Made in America – AVA Digital Honorable Mention • From the Ground Up: An Inside Look at Property Insurance – MarCom Honorable Mention Annual Report Awards—Acuity’s annual report received a Platinum MarCom Award, a Gold Hermes Award, and a Gold Stevie Award.

Other Creative Awards—Acuity’s happy birthday videos for its independent agency force received a Platinum MarCom Award, a Platinum Hermes Award, and two Platinum AVA Digital Awards.

Acuity Insurance, headquartered in Sheboygan, Wisconsin, insures nearly 150,000 businesses, including nearly 350,000 commercial vehicles, and more than 550,000 homes and private passenger autos across 31 states. Rated A+ by AM Best and S&P, Acuity employs more than 1,600 people.

36 | FEBRUARY 2024 |

wisconsin INDEPENDENT AGENT

Neenah, WI (1/5/24) - SECURA Insurance is proud to be certified by Great Place to Work® for the eighth year in a row. This certification is based entirely on what employees say about their experience working at SECURA, which is collected through an anonymous survey. This year, 91% of employees said it is a great place to work – 34 points higher than the average U.S. company.

"We are proud to be named a Great Place to Work certified company for the eighth consecutive year," said Sarah Krause, SECURA Vice President - Human Resources. "This certification highlights our employees' genuine feedback about working at SECURA, and the results show our employees are having consistently positive experiences in a variety of areas."

SECURA’s Great Place to Work survey results ranked the company’s strengths and evaluated employee feedback on areas of leadership, fairness, rewards, and career opportunities. The results showed 97% of employees say when joining the company employees are made to feel welcome, 96% say SECURA’s facilities contribute to a good working environment, and 95% say they are able to take time off from work when they think it’s necessary.

This certification qualifies SECURA to be named on other Great Place to Work and Fortune Best Workplaces lists.

In 2023, SECURA was ranked number 29 on the Fortune Best Workplaces in Financial Services & Insurance for large companies list, number 36 on the Best Workplaces for Women for large companies list, and number 85 on the Best Workplaces for Millennials for large companies list.

A summary of SECURA’s Great Place to Work ratings can be found at https://www.greatplacetowork.com/certifiedcompany/5003080.

ABOUT SECURA INSURANCE | SECURA Insurance, headquartered in Neenah, Wis., is a regional group of property-casualty insurance companies operating in 13 states. Approximately 550 independent insurance agencies represent the group, which provides a broad range of competitive commercial, agribusiness, farm, nonprofit, and special events products. SECURA Insurance is known for providing exceptional service to its agents and policyholders since 1900, and is rated A (Excellent)

by A.M. Best for its excellent ability to meet policyholder obligations. It is a Ward’s Top 50 company for outstanding results in financial performance and consistency over a fiveyear period, and it is a certified Great Place to Work. Visit www.secura.net to learn more.

wisconsin INDEPENDENT AGENT

| FEBRUARY 2024 | 37

IIAW CONTINUING EDUCATION

2024 ONLINE EDUCATION & CE CLASSES

FE BRU ARY C O U RSE SC H EDU L E DATE

TIME

FEBRUARY

COURSE

2/12

9AM-12PM

E&O Risk Management: Understanding Risk Mitigation and E&O Claims

2/12

2PM-5PM

Ethics - Creating a Winner Culture in the Agency

2/12

3PM-6PM

E&O Risk Management: Agency E&O Exposures and Defenses

2/13

1PM-4PM

Understanding and Avoiding E&O Claims in an Independent Agency

2/14

8AM-10AM

Personal Lines Issues That Keep You Up at Night

2/14

12PM-2PM

Embracing Directors & Officers Liability Insurance

2/14

12PM-2PM

Those Kids and Their Cars

2/14

2PM-3PM

Setting Business Income Limits: It’s Easier Than You Think!

2/15

9AM-12PM

E&O Roadmap to Homeowners Insurance

2/16

7AM-9AM

4 Key Personal & Commercial Lines Exposures Every Agent Must Understand

2/16

8AM-9AM

Claims-Made Policies - The Most Dangerous Insurance Policies

2/16

9AM-11AM

9 Rules for Reading an Insurance Policy Based on the Law of Insurance Contract

2/16

1PM-3PM

3 Keys to Getting the Named Insured Correct

2/16

2PM-4PM

Insight on Modern Day Cyber Exposures & Risk Mitigation

2/19

7AM-9AM

Properly Calculating & Insuring the Business Income Exposure

2/19

8AM-10AM

Rules for Developing the Correct Premium

2/19

9AM-11AM

E&O Exposures: Websites & Social Media

2/19

8AM-10AM

Farm and Insurance Issues - Top 10 Cases of the Last Decade (Or So)

2/19

11AM-1PM

Why Business Income is the MOST Important Property Coverage

2/21

1PM-3PM

Why Certificates of Insurance - Just Why?

2/21

1PM-4PM

Understanding the Largest Gov’t Benefits: Social Security and Medicare

2/21

1PM-4PM

Watch Your Six - A 1/2 Dozen Ethics Scenarios for Insurance Professionals

2/21

1PM-4PM

Understanding the Largest Gov’t Benefits: Social Security and Medicare

2/22

7AM-10AM

Agency Management Based E&O and Ethics

SEE OUR FULL COURSE SCHEDULE AND REGISTER FOR THESE CLASSES AT IIAW.COM/EDUCATION

FOOD FOR THOUGHT

Online CE Winter Sale Get 25% off your next CE purchase through ABEN. Use code Winter25% at checkout to save.

Deal ends Feb. 29, 2024.

iiaw.aben.tv

PRSRT STD US POSTAGE PAID MADISON WI PERMIT NO. 549

TIMES LIKE THESE CALL FOR IMT’S WORRY FREE BUSINESSOWNERS INSURANCE. Give your policyholders the protection they deserve to keep their business covered, even in the worst of times.

Learn how you can represent IMT Insurance by visiting imtins.com/contact PERSONAL | BUSINESS The information presented here is intended for informational purposes only and does not supersede any provisions in your insurance policy and related documents. See applicable terms and conditions or your policy provisions for details.