Diana Banaszynski | Events Coordinator and HR Business Partner 608.256.4429 • diana@iiaw.com
Ali Smeester | Accounting Specialist 608.256.4429 • ali@iiaw.com
For
Which Works Better
Seller or Traditional Financing for My Agency?
by John Lisowski, SFB
From a Wisconsin bank that understands the insurance industry. Your agency is humming along, even during a hard market, and it feels like it’s time to expand. You have done the homework and you have found an agency that is for sale. The market is good, the seller is agreeable. Everything is falling into place.
There are many factors to understand when considering the right kind of financing for your agency. Things to consider include affordability, length of the transaction, future profitability, and the source of your equity.
But there is another important decision, among all other decisions involved with agency acquisition: Should I ask the seller to finance the deal, or should I work with a bank? There is only one true answer. It depends.
The first consideration is whether the seller will want to offer financing. Here are potential benefits to a seller-financed transaction:
1. If the seller is willing to finance the transaction, that might be an indication of how he or she feels about the relative risk of the agency’s long-term success.
2. Seller financing may provide creative deal structure for the buyer.
3. The seller will earn interest on top of the proceeds from the sale of the agency.
4. There may be some tax benefit for the seller.
5. A seller will be more interested in the continued success and perpetuation of the agency if he or she is doing the financing.
Most of the reasons in favor of seller financing are conditioned upon the outlook of the seller based upon the well being of the seller, financial acumen of the seller, and perceived benefits inherent in this type of transaction.
The benefits for the buyer are all predicated on the mindset of the seller as the deal is put together. It’s important to note that some of the considerations for seller financing may not be beneficial for the buyer. Here are some examples:
1. Seller-financed deals may bring a higher sales price. This is an agreement that buyer and seller need to work out.
2. The seller may want or need the full proceeds of the sale, which removes seller financing as an option.
3. There may be underlining debt for the seller, which removes seller financing as an option.
4. It’s possible that the buyer wants to have a clear-cut distinction between the previous owner and the new agency owner. Keeping the seller involved in the financing may keep the seller involved in the agency.
5. Bank financing may provide better terms for the buyer and with more flexibility.
As noted earlier, there are many things that need to be considered regarding financing of an agency. The best course of action is to talk with a trusted advisor, quite possibly a banker that has your interests in mind. Gather the information available and make as informed a decision as possible – one that is best for you.
Bankers Who Believe in Your Agency
Financing for Independent Insurance Agencies
At SFB, we have knowledgeable lenders who understand the nuances of the insurance industry and have experience in financing all of your business and personal needsincluding acquisition financing, partner buyouts, refinancing, producer loans, technology loans, real estate, and lines of credit.
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Kimberly Bunce, Krista Paulus, Curt Van Auken, and John Lisowski. Your Insurance Lending Team.
Locations in: Alma Center, Black River Falls, Bloomer, Durand, Eau Claire, Ladysmith, and River Falls.
Step
May 7-8, 2025
AmericAn FAmily Field milwAukee, wi
The Independent Insurance Agents of Wisconsin are thrilled to invite you to our 2025 convention May 7 & 8 at American Family Field, home of the Milwaukee Brewers!
Get ready for a grand-slam experience alongside Wisconsin’s top independent insurance agents in a truly unique setting. The IIAW has lined up a one-of-a-kind experience that knocks it out of the park!
Registration opens soon! Don’t miss your chance to be part of this winning lineup!
EVENT SCHEDULE
InsurCon2025 • May 7-8, 2025
WEDNESDay, May 7TH
8:30AM-10:30AM
Sheraton Milwaukee Brookfield Hotel 375 S Moorland Rd, Brookfield
9:30AM-10:30AM
10:45AM
12:10PM
American Family Field X-Golf Suite (PNC Club Level)
3:10PM
4:00PM-8:00PM
Broken Bat Brewery
135 E Pittsburgh Ave, Milwaukee
8:00 PM
THUrSDay, May 8TH
8:00AM-9:00AM American Family Field - Third Base Ward
8:00AM-11:00AM PNC Club Level & SKYY Lounge
9:30AM-10:30AM
Northwestern Mutual Legends Club (PNC Club Level)
9:00AM-10:00AM Yount & Aaron Rooms (PNC Club Level)
10:00AM-11:00AM Yount & Aaron Rooms (PNC Club Level)
11:30AM-2:00PM PNC Club Level & SKYY Lounge
2:45PM-3:45PM
Third Baseline Visitor’s Dugout
4:00PM-4:45PM
Third Baseline Visitor’s Dugout
5:00PM-6:30PM Third Base Ward
Registration & Brewers Game Ticket Pickup
Tickets must be picked up at the Sheraton Milwaukee Brookfield Hotel by 10:30AM
Industry Update - Presented by IIAW CEO Matt Banaszynski. Filed for 1 WI CE credit
Bus Departs Sheraton Milwaukee Brookfield Hotel for American Family Field
Brewers Game vs. Astros & X-Golf *Optional Add-On During Registration*Experience the excitement with seven state-of-the-art indoor golf simulator bays spread across two floors, including three bays offering spectacular views of the ball park. Tickets are limited and offered on a first-come, first-serve-basis. Purchase your game day ticket for $50 within your attendee registration.
Bus Departs American Family Field for Broken Bat Brewery
Wiffle Ball Tournament, Trivia, Dinner & Awards - After the Brewers game, we’ll head over to Broken Bat Brewery for trivia, dinner, an awards presentation and networking. Wiffle Ball Tournament spots are available on a first-come, first-served basis.
Bus Departs Broken Bat Brewery for Sheraton Milwaukee Brookfield Hotel
Registration
Exhibitor Setup
Generational Selling Workshop Presented by Chubb - This seminar will explore generational selling techniques that will allow you to tailor your approach to different age groups.
Turning Science into Solutions to Mitigate Property Risk with the Insurance Institute for Business and Home Safety (IBHS) - Jennifer Gardner, IBHS Senior Director for Member and Industry Engagement, will provide a background on IBHS research, perils studied, and solutions developed to bend down the loss curve and mitigate avoidable damage from severe weather events.
Industry Weather Presentation Presented by Willis Towers Watson - Industry weather experts will provide crucial insights into how changing weather patterns are reshaping the insurance landscape.
Exhibitor Showcase & Lunch - Network & connect while you visit the exhibitor booths. Agency attendees can win big prizes from Super Door Prizes and by playing Blackout Bingo. Meet & greet with Bernie the Brewer and the Famous Racing Sausages!
CEO Panel - Gain valuable insights from top CEOs as they share their perspectives on where the industry is headed, what challenges lie ahead, and how agents can position themselves for success in a rapidly evolving market.
Keynote Speaker - TBA - Stay tuned for the announcement!
Food & Cocktail Reception - Meet & greet with our keynote speaker and a former Milwaukee Brewers Player - TBA
Schedule is subject to change.
THE BIGGEST INSURANCE EVENT OF 2025!
We do events differently at the IIAW! Ask anyone who attended our 125th celebration at Lambeau Field. The venue and experience make it one of the best insurance events in the Midwest. If you have never attended InsurCon, what are you waiting for? It’s the insurance industry experience everyone is talking about.
As the insurance industry faces rapid change, staying informed and adapting to new trends is critical for professionals aiming to remain competitive. The Independent Insurance Agents of Wisconsin (IIAW) is hosting its annual convention at the iconic American Family Field, and this year, it’s not just an event—it’s an experience. From cutting-edge seminars to unique social opportunities like attending a Milwaukee Brewers game in the X-Golf suites and participating in a Wiffle ball tournament at Broken Bat Brewery, the convention offers a perfect blend of education, networking, and fun. Here’s why this year's convention should be at the top of every insurance agent's list for 2025.
This year, the agenda includes seminars on critical topics that impact insurance agents and their clients alike. Attending these sessions will equip you with practical knowledge to address today’s challenges and stay competitive in a rapidly changing industry.
As climate change continues to influence weather patterns globally, the insurance industry faces increasingly complex risks and claims. Industry weather experts from Willis Towers Watson will be on hand to provide crucial insights into how changing weather patterns—like more frequent floods, wildfires, severe and convective storms, and hurricanes—are reshaping the insurance landscape. As an agent, understanding how these shifts affect risk assessment and coverage options will allow you to guide your clients with confidence, ensuring they’re properly protected in an era of unprecedented environmental change.
The IBHS is renowned for its cutting-edge research on how to protect homes and businesses from natural disasters. At this convention, the IBHS will share their latest findings and strategies for mitigating property
damage due to severe weather. You’ll leave with actionable tips that you can share with clients to help them safeguard their assets, offering an added layer of value to your services.
Each generation of clients—from Baby Boomers to Gen Z—has unique insurance needs and purchasing behaviors. This seminar, presented by Chubb, will explore generational selling techniques that will allow you to tailor your approach to different age groups. Whether it’s understanding the financial priorities of Millennials or addressing the legacy concerns of Gen X, this session will provide you with strategies to connect with clients across the generational spectrum, helping you close more sales and build stronger relationships.
In addition to the educational sessions, attendees will have the unique opportunity to again hear directly from some of the most influential CEOs in the insurance industry. These leaders will share their perspectives on where the industry is headed, what challenges lie ahead, and how agents can position themselves for success in a rapidly evolving market. Hearing firsthand from top executives offers invaluable insight that can shape your own business strategy and help you stay ahead of the competition.
One of the key benefits of attending any professional convention is the opportunity to network with industry peers, and the IIAW convention is no exception. At American Family Field, you’ll have the chance to meet with fellow agents, carrier representatives, vendors, and leaders from across the insurance industry. These connections are invaluable for exchanging ideas, exploring potential partnerships, and gaining new perspectives on best practices.
This year’s event adds a unique twist to traditional networking by offering a range of informal, fun activities where relationships can be built in a relaxed setting. The IIAW convention isn’t just about education—it’s also about creating memorable experiences that strengthen professional relationships.
As part of the convention experience, attendees will be treated to a Milwaukee Brewers game against the Houston Astros in the X-Golf suites. These premier suites offer stunning views of the game, comfortable seating, and an immersive golfing experience. It’s a perfect setting to enjoy some downtime, chat with fellow professionals in a casual environment, and unwind after a morning of learning. Watching a Brewers game in X- Golf suites at American Family Field is a bucket-list item for many, and this exclusive opportunity adds an unforgettable highlight to the convention.
For those looking to mix business with a bit of friendly competition, the convention will feature a Wiffle ball tournament at Milwaukee’s Broken Bat Brewery. Broken Bat is known for its sports-themed atmosphere, craft beer, and casual vibe, making it an ideal venue for a fun, engaging networking event. Whether you’re stepping up to the plate or cheering from the sidelines, the tournament offers a playful way to connect with colleagues and fellow agents while enjoying some of Milwaukee’s best brews. Participation is limited so sign up early. Ballplayers will receive a custom jersey to commemorate the event while the champions will head home with a unique and memorable trophy.
While the keynote speaker for this year’s convention is yet to be announced, anticipation is high. Previous keynote speakers include Charles Woodson, David Spade, Bill Walton, Jim Abbott, Donald Driver and many others. This special keynote is sure to be a highlight of the event. Stay tuned for the big announcement!
At the IIAW’s annual convention, you’re not just attending seminars and collecting business cards. You’re a part of a dynamic experience that blends
Matt’s Mixology
Incider Cocktail
professional development with entertainment and unique opportunities to bond with industry peers. By participating in both the educational and social aspects of the event, you’ll leave with not only a deeper understanding of industry trends but also meaningful connections and memories.
From learning about the latest challenges facing the insurance industry to strengthening your selling techniques and enjoying unique social events, this convention offers a well-rounded opportunity for growth. The combination of top-tier seminars and exciting leisure activities means you’ll return to your agency with a fresh perspective, new strategies, and strengthened relationships.
With insightful seminars on changing weather patterns, IBHS insights, and generational selling strategies by Chubb, this convention delivers cutting-edge industry knowledge. Add in the chance to listen to industry CEO’s and attend a Milwaukee Brewers game from the luxurious X-Golf suites and join a Wiffle ball tournament at Broken Bat Brewery, it is more than just a professional gathering—it’s an experience. Don’t miss this opportunity to elevate your career while enjoying everything this event has to offer.
Mark your calendar for May 7 & 8, 2025 and prepare for an unforgettable experience that will benefit your agency for years to come!
There’s nothing more American than baseball and apple pie. However, another play on words involves the phrase “inside baseball” which refers to specific knowledge of the detailed minutiae of the sport (often used generically for whatever the current topic being referred to is). This “incider knowledge” describes the baseball movie Money Ball and its focus on player statistics in building a team and is the inspiration for this drink, according to Barina Craft.
Ingredients
• 1 ½ oz. Whiskey
• 4-5 oz. Apple Cider
• 1 slice Apple
Directions
Pour blended whiskey over ice cubes in an old-fashioned glass. Add apple cider and stir. Garnish with the apple slice.
> Matt Banaszynski, CEO, IIAW
A RISKY BUSINESS ‘THANK YOU’ TO OUR MEMBERS
"Gratitude can transform common days into thanksgivings, turn routine jobs into joy, and change ordinary opportunities into blessings." –William Arthur Ward
As I reflect on the roles, or rather “jobs”, that I’ve held in my career, I feel beyond grateful to find myself at the Independent Insurance Agents of Wisconsin today. It is a unique balance of an ongoing to-do list coupled with laughter, friendships and experiences. Every month, there is no shortage of “Risky Business” topics to write on thanks to an ever-changing industry, but for the month of November I would like to pause and say thank you to our agency members, our supporting companies, and our dedicated IIAW team.
Many of you have likely heard me say that I never consider the work that I do to be “a job”. While there are some difficult days (today, the day I am writing this article being one of them!), there are many more when I can smile, celebrate and collaborate.
As we enter the busy holiday season, finish up January 1st renewals, and plan for a prosperous 2025, I want to thank each of you for sending in questions, utilizing our team for assistance and
for your overall support of the Association. We would not be able to do what we do – and enjoy every minute of it – if it were not for all of you.
Ok, enough of the mushy stuff. Get back to work. We have many exciting events, offerings, and resources being finalized behind the scenes. Upcoming article topics include mortgage lenders requesting replacement cost estimators, utilizing bots in your agency, implementing file audits in your agency, and much more! Stay tuned in to our monthly magazine and weekly e-newsletters for more helpful information on your agency.
And remember, we’re always just a phone call (or email) away so always reach out with your questions!
> Mallory Cornell, Vice President, IIAW
Rather than attempt to be all things to every kind of business, we focus on the ones we know best— restaurants and bars, grocery and convenience stores, medical clinics, artisan contractors and auto service shops—to deliver outstanding property, casualty and workers compensation insurance. Deep niche expertise, with insight into unique business risks, is how we cover the details that make the biggest difference to our policyholders.
To discuss an agency appointment, give us a call at 888.5.SOCIETY or visit societyinsurance.com .
We are for our members
This season and all year long, the IIAW is grateful for the support of our members. Your commitment strengthens the independent insurance channel, and we are proud to have you as part of the IIAW family.
Thank you for your continued support!
IIAW SUPPORTING COMPANY MEMBERS
Genuine relationships
SECURA’s team of insurance experts is making insurance genuine. They are here to support you and your clients. Our sales and 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/WI-agents
Hear from our experts
Want to learn more about what SECURA has to offer?
Scan the QR code or visit secura.net/WI-agents for more information about the SECURA team.
MANAGING RISING HOMEOWNERS PREMIUMS BY OFFERING STANDALONE JEWELRY COVERAGE
Over the past year, nearly 3 in 4 independent property & casualty agents providing homeowners coverage have seen more than 75% of their clients experience a premium increase, according to a survey by BriteCo of 228 agents in September. Another third of respondents say that 25%-50% of their clients received a nonrenewal notice.
The current hard market has presented independent agents with unique challenges, including managing the growing number of homeowners claims and explaining to clients why their policy costs are increasing or even why their policy is being nonrenewed.
To manage homeowners premium increases, agents suggested increasing deductibles, leveraging discounts through bundling, and using smart home technology to cope with premium increases and nonrenewals.
Notably, 50% of the agent respondents suggested that clients remove jewelry riders and floaters from their policy and move coverage to a standalone jewelry policy. Standalone jewelry policies typically do not report a claim to thirdparty data services such as CLUE and A-Plus. Therefore, a jewelry claim on a standalone policy would not impact a client's homeowners coverage.
Even though 98% of agent respondents said it was important to inform clients of the potential impact of a jewelry claim through a homeowners rider or floater, about one-third of agents were still unaware that a standalone jewelry policy claim would not be reported to a third party or impact the policyholder.
With agents indicating that more than half of their clients are unaware of the potential impact a jewelry claim could have on their homeowners policies, there is a strong case for agents to educate themselves and their clients on the advantages of a standalone jewelry policy.
One surveyed agent said that they "definitely see the upsell potential with selling standalone [jewelry insurance]. We have been so busy just trying to maintain finding solid [homeowners] insurance that we have not been asking this but will be moving forward."
While independent agents may want to offer clients standalone jewelry insurance, survey respondents indicated they faced obstacles to getting clients onboard.
One-third of agents mentioned a limited number of standalone jewelry insurance providers, making it harder to offer competitive or suitable policies for their clients. The complexity of the process also contributes to the difficulties in
selling these policies, highlighting the need for more streamlined options or better provider support.
Additionally, 1 in 4 agents felt that clients often did not understand the value of standalone jewelry insurance or considered it unnecessary or too expensive. Another 20% of agents found the quoting and underwriting process too timeconsuming and cumbersome.
The good news is that there are new options among jewelry insurance providers that offer more streamlined processes for quoting and underwriting. Agents no longer have to deal with paper-based systems of the past and standalone jewelry insurance rates are competitive with homeowners riders or floaters, which can save clients' money.
According to survey respondents, agents are nearly unanimous in their belief that educating
clients about the impact of jewelry claims on their homeowners insurance premiums or renewal status is essential. However, the advantages of a standalone jewelry insurance policy go beyond simply avoiding the impact of a claim. Technological advancements have made the process faster, easier and more affordable for agents and clients.
“I might make more money in commission leaving jewelry on a homeowners policy, but a standalone policy saves my client's money, and just as important, a claim won't affect their homeowners insurance," said one surveyed agent.
> Big “I” Virtual University Faculty
This article was originally featured on iamagazine.com in October 2024.
Local Presence. Regional Strength.
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.
Financial Strength
Penn National Insurance has an A.M. Best Rating of A (Excellent). This rating is assigned by A.M. Best to companies that have an excellent ability to meet their ongoing insurance obligations.
Claims Service
Penn National Insurance has achieved a “Superior Rating” for Personal Lines Claims Customer Experience for five consecutive years.
Products
We offer an array of comprehensive commercial insurance solutions to fit the needs of your business, including Businessowners, Commercial Auto, Property, General Liability and Workers’ Compensation.
In addition, we offer personal auto and homeowners insurance.
Interested in partnering with us?
We are looking for select commercial lines agencies in Wisconsin.
Vicki Lentz
262-432-3420
vlentz@pnat.com
Clay Zogata
715-383-5454
czogata@pnat.com
4 REASONS TO CROSS-SELL SURETY BONDS
The more insurance products an agent can offer a client, the better opportunities there are for all parties involved—agent, client and carrier. An insurance agent that meets a client's needs as they arise—including offering, for example, a business owners policy, auto, workers compensation and surety bonds—is poised to play a key role in a client's business and retain them as a business partner.
With demand for surety bonds remaining strong thanks to federal government legislation funding construction, as well as other surety growth areas such as fraud mitigation, agents who offer surety bonds will quickly become a valuable source for their clients.
Surety bonds present a prime opportunity for cross-selling, allowing agents to broaden their offerings and deepen client relationships. Here are four reasons agents should consider adding surety bonds to their mix of coverage offerings:
1) Always a need. For many businesses, there is a state or local requirement to purchase a surety bond to become licensed and continue operations. As a result, there will always be a market need for bonds from business clients.
“We advise agents that surety is a great way to create sticky clients," says David Gonsalves, CEO at BondExchange. “For contractors, mortgage brokers and other financial services companies, maintaining a surety program is required to continue operating."
“Additionally, many insureds in need of a bond
will also need more traditional lines as well. Surety bonds are usually one of many insurance requirements insureds must obtain to receive a license or work on a construction project," Gonsalves explains.
2) Building relationships. Underwriting surety often involves an intimate dive into the business and personal financials of the business and its owners. While some clients may not be aware of all the coverages their business may need, an agent who understands their overall business is in a better position to educate clients on what additional coverages they need.
“When they control the surety book, agents build trust and secure long-lasting relationships," Gonsalves says. “Agents often lose sight of the importance of surety due to the relatively low commission revenue versus other lines of business."
3) Surety specialists. As with many classes of business, surety is a coverage that requires knowledge and expertise when offering the product. For many agents, offering bonds may seem like a significant time investment. Shopping for quotes and administration work seems like it leads to little premium. However, utilizing or partnering with a professional bond agent is key to addressing underwriting questions and providing the information needed to acquire a bond.
“Most independent agents offer surety to clients as a way to keep the client 'under the tent' so an outside surety agent doesn't poach the other
larger revenue lines," Gonsalves says. “We suggest that the typical agent with anything less than $25,000 in surety commission revenue should leverage a high-quality surety managing general agent to handle the service aspect of their surety book."
Agents who refer clients to surety specialists can earn referral commissions and transform potential losses into revenue-generating opportunities. Additionally, partnering with surety experts will also enable insurance agents to gain access to a vast array of bond products, enhancing their ability to cater to diverse client requirements with an expanded portfolio.
4) Widening opportunities. The Broadband Equity, Access & Deployment (BEAD) Program, which provides upwards of $40 billion for placing affordable high-speed internet throughout the rural U.S, has found a conditional programmatic waiver of their letter of credit obligations in
the latter half of 2023, according to a report by Brown & Brown, an insurance brokerage firm. The changes will allow Letter of Credit (LC) requirements to be waived if the applicant commits to having a surety bond issued in its stead.
Further, in February, the U.S. Small Business Administration increased the statutory contract limits for the Surety Bond Guarantee Program to $9 million for general projects and $14 million for federal contracts. These changes are expected to create more substantial contracting opportunities for small businesses, enabling them to compete for larger projects and federal contracts. Consequently, this can lead to increased demand for surety bonds and additional opportunities for agents.
This article was originally featured on iamagazine.com in September 2024.
> Olivia Overman
IA Content Editor
Hard Market
Equip
Selling
Driving
Stopping
HOW THE BEST PRACTICES PROCESS OPENS THE DOOR TO GROWTH
The Best Practices Study is released annually by the Big “I" and Reagan Consulting. It is based on the data received from agencies that have demonstrated real, measurable success. Best Practices data is gathered through a data collection process and scored objectively. The highest performers are deemed “Best Practices agencies."
Agencies of all sizes can utilize the report's 3,000 data points to compare their agency's performance with Best Practices agencies and create a performance dashboard to measure future success and create benchmarks toward growth.
Measuring your agency against Best Practices agencies can yield valuable insights. The Best Practices framework helps agencies understand if the right information is being tracked, where they are successful and whether the agency is spending time and resources in the areas that provide the most benefit and increase agency value.
Best Practices agencies are split into six revenue categories, which means agencies can compare themselves to the right category to measure and manage business— and look ahead for scale and growth.
To get an idea of how the Best Practices process can benefit your agency, start by picking one metric, review the results, and then use the proper tools or seek education to address the performance gaps. Then, move from one priority to the next. By following this process, you will turn potential into significant improvements.
What should be your first priority? Reagan Consulting has determined that growth is twice as important as profitability in the valuation equation. Without consistent and sustainable growth, an agency will never reach its valuation potential and will likely fail to deliver appropriate investment returns to its owners. So, starting with the sales velocity metric can ease an agency into the Best Practices process.
Expressed as a percentage, sales velocity is calculated by dividing the new business written in the current year by the prior year's commissions and fees. By using the Best Practices Study and benchmarks, you can determine where your agency stands against firms in the same revenue category.
Sales velocity is one of the most important indications of an agency's ability to succeed and perpetuate over the long term. Through the Best Practices process, principals and managers can focus on what an agency can do to impact the specific metric and drive results based on new business activity.
Additional metrics are available to measure agency performance, including an organic growth rate formula. Also, weighted average shareholder age (WASA) and weighted average shareholder producer age (WAPA) indicate if an agency is prepared for perpetuation. Meanwhile, to evaluate your new talent investment needs, use the net investment in unvalidated producer pay (NUPP) metric.
Looking for a place to begin? Download a free Excel Comparison Workbook from the Big "I" Best Practices webpage. Use the spreadsheet to compare your most recently completed year-end results with the results obtained by the Best Practices Agencies and then calculate any performance gaps between the two. Areas to explore include revenue, growth, expenses, profit, finance, staffing and producer metrics.
If your performance is aligned with the Best Practices results, consider participating in the Best Practices Agency process. Share your interest with your local Big “I" state association or complete the self-nomination form. The opportunity to become a Best Practices agency only occurs every three years and is taking place now.
The process is an excellent agency management exercise that can reveal success, validate decisions and reveal areas of opportunity. For those who are nominated, participate and achieve Best Practices status, inclusion provides the prestigious status of “Best Practices agency" and opens the doors to many benefits.
This article was originally featured on iamagazine.com in September 2024.
> Jennifer Becker
Big “I" senior director, agent development, research and education.
KEY RACES TO WATCH IN THE WISCONSIN ASSEMBLY ELECTION
The 2024 Wisconsin State Assembly elections are shaping up to be highly competitive, driven by newly drawn legislative maps that have diminished the Republicans' long-standing partisan edge. This election is poised to be one of the most consequential and costly in recent memory, with all 99 Assembly seats at stake. Both parties view this election as a crucial opportunity to either solidify or reshape control of the state’s lower legislative chamber. Democrats, who last held the Assembly in 2010, now have a chance to either reclaim control or significantly reduce the Republicans’ current majority of 64 seats—just two short of a veto-proof supermajority. Either side needs to capture a minimum of 50 seats in order to control the Assembly. While 46 seats are considered Likely Republican and 41 Likely Democrat, the remaining "Big 12" swing districts will ultimately decide the balance of power in the next legislative session.
Democratic Strategy
Democrats are entering this election with some momentum under the newly drawn maps. They are poised to increase their current 35 seats and narrow the Republican majority, which stands at 64. However, to regain control of the Assembly, Democrats must win at least 9 of the "Big 12" seats, many of which are held by Republican incumbents—making this a difficult challenge. The most likely outcome is that Republicans will retain control with 53 to 55 seats. A narrower majority, however, could complicate Republican efforts to pass legislation next session, as they would need near-unanimous support within their caucus.
Republican Strategy
For Republicans, retaining control of the Assembly is a more straightforward task. They need to secure just four of the "Big 12" seats, seven of which are already held by incumbents, albeit in newly redrawn districts. These new boundaries have made the "Big 12" races highly competitive, giving candidates from both parties a strong chance of victory.
Key Races to Watch
Assembly District 91
Incumbent Democrat Jodi Emerson (D-Eau Claire) is defending her seat in a newly redrawn district in northwest Wisconsin, facing Republican challenger Michele Magadance Skinner (R-Altoona). While the district has become more competitive, it still leans about 53% in favor of Democrats.
Assembly District 94
Democratic State Representative Steve Doyle (D-Onalaska) is seeking re-election in this closely contested western Wisconsin district, facing Republican challenger Ryan Huebsch (R-Onalaska) in a rematch of their race from two years ago, where Doyle narrowly won by 756 votes. The district is highly competitive, with an even 50/50 split between parties, and 14% of the voters are new to Doyle. In the 2020 election, Trump lost this district by just 9 votes. Doyle, who was first elected in a 2011 special election, has consistently outperformed other candidates on the ballot in his re-election bids.
Assembly District 26
The 26th District is one of the newly created "toss-up" seats from the updated map, slightly favoring Democrats. Incumbent Republican Representative Amy Binsfield (R-Sheboygan) is up against Democratic challenger Joe Sheehan (D-Sheboygan) in a district where roughly 60% of the population is unfamiliar to her. The district leans Democratic by around 52%.
Assembly District 89
The newly redrawn 89th District is a competitive seat that was previously held by Republicans. It now encompasses Ashwaubenon, home to 17,000 residents, and a significant portion of Green Bay, adding 43,000 more people. With no incumbent running, it's an open race between Republican Patrick Buckley (R-Green Bay) and Democrat Ryan Spaude (D-Green Bay). In the 2020 election, Trump lost this district
by a narrow margin of 257 votes, and it leans slightly Democratic, with around 51 percent of the vote
Assembly District 51
Republican incumbent Todd Novak (R-Dodgeville) is running for re-election in a district that now leans Democratic. He is facing Democratic challenger Elizabeth Grabe (D-Mount Horeb). Novak, who has been winning elections since 2014, has consistently outperformed top-ticket Republicans. In 2020, he did 2% better than Trump, and in 2022, he exceeded Senator Ron Johnson’s performance by 5% in his previous district. However, the newly redrawn district has shifted 5 points more Democratic, now favoring Democrats by 54%, making a flip likely in this election cycle.
Assembly District 88
The new 88th district is now a true 50/50 swing district, reflecting a 5-point shift toward the Democrats compared to the previous district. The race for this open seat is highly competitive, with Republican Ben Franklin (R-De Pere) facing off against Democrat Christy Welch (D-De Pere). In the 2020 election, Trump narrowly won this district by just 227 votes, securing 50.4% of the vote. With such a tight margin, this race is definitely one to watch closely.
Assembly District 53
This race features former Republican State Representative Dean Kaufert (R-Neenah), a moderate who is seeking a return to public service after stepping down as both a state legislator and the mayor of Neenah several years ago. His Democratic opponent, Duane Shukoski (D-Neenah), worked at the Kimberly-Clark paper mill in Neenah for 37 years. While Kaufert remains well-known and popular in the community, the district leans slightly Democratic, with about 52% of voters favoring that party. In the 2020 election, Donald Trump lost this district, securing just 47.2% of the vote.
Assembly District 21
Incumbent Republican State Representative Jessie Rodriguez (R-Oak Creek) is seeking re-election in a newly redrawn district that now leans Democratic. The district has seen significant changes, with 39% of its population new to Rodriguez. Currently, the seat favors Democrats by a 47% margin. Rodriguez faces a challenge from Democrat David Marstellar (D-Milwaukee). In the 2020 presidential election, Joe Biden won this district with 52% of the vote.
Assembly District 61
This race presents a rematch in a newly redrawn Assembly District between incumbent Republican Assemblyman Bob Donovan (R-Greenfield) and Democrat LuAnn Bird (D-Hales Corners). In 2022, Donovan narrowly secured victory with 51% of the vote in the previous district. However, the dynamics have shifted, as the new district leans slightly Democratic, with a 51% Democratic tilt.
Assembly District 30
Republican State Representative Shannon Zimmerman (R-River Falls) is seeking re-election in a northwestern district that has shifted approximately 5% toward Democrats since the implementation of new maps. He faces Democratic challenger Alison Page (D-River Falls) in a race for a seat that former President Trump narrowly won in 2020 by less than one percentage point. The district leans slightly Republican with a 51% GOP advantage and Zimmerman's incumbent status provides him an edge in retaining the seat.
Assembly District 85
This newly redrawn district presents a contest between Republican incumbent Pat Snyder (R-Schofield) and Democratic challenger Yee Leng Xiong (D-Weston). Snyder, first elected in 2016, has consistently outperformed his party’s top ticket in previous re-election bids. Xiong, a political newcomer, is banking on momentum from higher-profile races at the top of the ticket to boost his chances. While the district leans slightly Republican - by about 1 percent - Governor Evers narrowly won here in 2022 with 50.5% of the vote. The advantage remains with the incumbent, Snyder, but the race could be closer than expected.
Assembly District 92
Former Democratic State Representative Joe Plouff (D-Menomonie) is stepping out of retirement to challenge incumbent State Representative Clint Moses (R-Menomonie) in a newly redrawn district which now leans Republican by just 52%. Plouff narrowly secured victory in his primary election this past August. Moses, facing a new district number and a significant influx of new constituents, must now appeal to a population that is 59% unfamiliar with him. However, this area has been trending Republican in recent years with GOP candidates like Johnson, Leiber, Loudenbeck, and Toney all winning here in 2022. The seat is expected to remain in Republican hands this election cycle.
The outcome of these closely contested races will largely hinge on voter turnout and the strength of each party’s grassroots efforts. Both Democrats and Republicans are investing significant resources in these pivotal elections to either maintain or shift the balance of power in the State Legislature.
The election is on Tuesday, November 5th. Be sure to cast your vote!
> Misha Lee IIAW Lobbyist
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Members in the News
RURAL MUTUAL AND BADGER MUTUAL ANNOUNCE AFFILIATION
Madison, Wis. — Oct. 3, 2024 — Rural Mutual Insurance Company and Badger Mutual Insurance Company, with a combined 227 years of providing farm, commercial and personal policies, announce an affiliation subject to regulatory approval with an anticipated effective date in January 2025.
Rural Mutual and Badger Mutual are well-respected Wisconsin-based brands that each bring value to the affiliation, including an extensive breadth of industry knowledge, exceptional customer service, and deep community involvement. Both companies share a similar vision and culture that will support collaboration, and they will each retain their distinct brand identities. They believe this affiliation will generate long-term growth and stability for employees, agents, and policyholders.
“The opportunity to affiliate these two reputable brands for mutual growth is exciting, and we look forward to working together to increase the value of both organizations even more,” said Dan Merk, Rural Mutual Executive Vice President and CEO.
“Even beyond our shared Wisconsin roots, Badger Mutual’s consistent commitment to their employees and communities make them a perfect cultural fit for us.”
Rural Mutual adds its financial strength and AM Best A+ rating, seasoned staff, local agents, and operational excellence to the relationship. Badger Mutual contributes an experienced management team and independent agents with an expanded
sales footprint in six states outside of Wisconsin. “We are excited about the opportunities this partnership brings for our policyholders, agents, and employees. Rural Mutual is a top-tier insurance brand with a strong reputation, whose values and principles are closely aligned with ours. This strategic alliance will be a significant milestone, marking a new chapter in Badger Mutual’s history,” said Dan Nigro, President & CEO of Badger Mutual. “From the outset, we felt a great synergy with the Rural Mutual team, and our entire organization is eager to embrace the growth and scale this affiliation will foster.”
Both companies will continue to maintain their existing Wisconsin headquarters with Rural Mutual in Madison and Badger Mutual in Milwaukee.
About Rural Mutual Insurance Company
Rural Mutual Insurance Company has been protecting Wisconsin for 90 years and is the state’s No. 1 writer of farm insurance and No. 4 writer of commercial insurance. As an AM Best A+ Superior company, Rural Mutual provides a full line of insurance products exclusively to farms, families, and businesses in Wisconsin. The company is headquartered in Madison, Wisconsin with over 150 local agents across the state.
About Badger Mutual Insurance Company
Badger Mutual Insurance Company has been providing a range of property and casualty insurance products since 1887. The company is headquartered in Milwaukee, Wisconsin, and is represented by over 320 local agencies across seven states: Wisconsin, Illinois, Minnesota, Iowa, Michigan, Arizona, and Nevada.
ROBERTSON RYAN CHARITABLE FUND AWARDS $10,000
In 2022, we proudly established the Robertson Ryan Charitable Foundation, Inc., a 501(c)(3) non-profit organization. Our dedicated team at Robertson
Ryan is committed to making a difference through donations, volunteer work, and impactful community support.
At our recent Summer Agent Meeting, we had the pleasure of awarding seven generous donations to outstanding non-profits. Our agents presented heartfelt “Shark Tank” style pitches about the organizations they are passionate about, and their enthusiasm was truly inspiring.
We are thrilled to support the following non-profits with these contributions:
• Pawsitism, Inc. will receive a $3,000 donation in honor of Alyssa Hink
• Just One More Ministry Inc. will receive a $2,500 donation in honor of D.J. Rodrian
• Milwaukee Christian Center will receive a $2,000 donation in honor of Eric Schulte
• Advocates of Ozaukee will receive a $1,500 donation in honor of Matt Frank
• Community Projects for Seniors will receive a $500 donation in honor of Tony Von Rueden
• PanCan, The Pancreatic Action Network will receive a $250 donation in honor of Ben Schwade
• Wisconsin Area Music Industry Awards Corporation will receive a $250 donation in honor of Garrett Maloney (pictured Terry Maloney)
Allan Degner, VP of Marketing, shared, “Supporting nonprofit causes is more than just allocating resources; it’s about building a legacy of positive change and showing that true success comes from making a real impact on individuals and communities. These efforts reveal our deep commitment to lasting benefits and showcase how corporate success is closely tied to social responsibility and community well-being.” Degner continued, “At Robertson Ryan, we’re proud of our longstanding tradition of giving generously, thanks to the passionate efforts of our dedicated team members.”
For more information about our community support, please visit our Charitable Foundation website.
Together, we are making a lasting impact in our communities.
ACUITY NAMED TO DELOITTE 75
Acuity is named to the Deloitte Wisconsin 75, the annual program honoring the state's largest closely held firms for their impact on the Wisconsin economy. In Acuity’s 18th year on the list, the insurer ranks 19th.
Private sector companies help power Wisconsin’s economy and communities. Each year, Deloitte recognizes the state’s largest and most successful companies.
"The private companies that make up the Wisconsin 75 set the standard for what’s possible when a business is committed to making an impact both within their organization and the community. We’re proud to recognize their contribution to our economy and state,” said P.J. DiStefano, Wisconsin managing partner of Deloitte LLP.
ACUITY NAMED COMMERCIAL LINES CARRIER OF THE YEAR
Acuity Insurance is named Commercial Lines Carrier of the Year by The Insurance Alliance Network in Pennsylvania.
The Insurance Alliance Network selected Acuity as Commercial Lines Carrier of the Year based on a member survey in which the insurer ranked the highest in categories such as underwriting expertise, responsiveness, ease of doing business, and claims service.
“When there is a strong partnership between independent insurance agencies and insurance companies, everyone wins – especially the consumers. The service they receive is improved through enhanced communication, deeper
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understanding of company policies and procedures, and a higher degree of responsiveness and cohesiveness,” said Amy Gohsler, President of The Insurance Alliance.
“Acuity loves agents,” said Melissa Winter, Acuity President. “We have the heart of a regional carrier with the strength of a national, and we are committed to being a true partner for agents throughout Pennsylvania and across our entire 32-state operating territory.”
Some of the comments from The Insurance Alliance Network survey included:
“Acuity turns things around quickly and always answers the phone.”
“Acuity’s responsiveness and approach to underwriting show they are looking for ways to write business.”
“Acuity writes what we write and is aggressive in doing so.”
“Our underwriter is a great asset to our producers as she looks deeply into an account and underwrites on their merits.”
The Insurance Alliance Network is a collective of seven premier independent agencies in the Central, greater Lehigh Valley, and Southeast regions of Pennsylvania. Through size, diversity, and broad expertise, The Alliance offers on a regional level what is often found only with national brokers. Founded in 1997, The Alliance continues to provide its members with the support of its business partners while each agency still maintains independence to serve their diverse communities. The Alliance ended 2023 with a premium volume of over $135 million.
Acuity Insurance is a leading provider of insurance solutions, delivering exceptional coverage and customer service to individuals and businesses in 32 states. With over $3 billion in annual written
premium, the insurer manages assets exceeding $7 billion and is rated A+ by AM Best and S&P. Headquartered in Sheboygan, Wisconsin, Acuity employs over 1,700 people.
H.W. KAUFMAN NAMES CO-PRESIDENTS
Oct 23, 2024 – H.W. Kaufman Group on Wednesday named Danny Kaufman and Jodie Kaufman Davis co-presidents of the company.
They will continue to report to Alan Jay Kaufman, who will remain chairman and CEO.
Danny Kaufman will have responsibility for Burns & Wilcox Brokerage and Burns & Wilcox Canada, in addition to his current role as president of Burns & Wilcox in the U.S.
Ms. Kaufman Davis will be vice chair of insurer Atain Insurance Cos., while retaining oversight of RB Jones, H.W. Kaufman’s managing general underwriting unit. She will continue to be responsible for Kaufman’s businesses outside North America. Ms. Kaufman Davis was a 2019 Business Insurance Women To Watch winner.
Mr. Kaufman and Ms. Kaufman Davis, who are based in Farmington Hills, Michigan, previously were executive vice presidents.
H.W. Kaufman intends to remain a privately held, family-owned business, according to a company statement.
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