Wisconsin Independent Agent | June 2021 Magazine

wisconsin INDEPENDENT AGENT JUNE 2021

REGISTER TODAY: IIAW.COM/INSURCON

“I love spending hours trying to quote online.”

SAID NO AGENT EVER. No agent ever said they enjoy wasting time.

But they have said fast online quoting with a clear understanding of appetite is key to a successful partnership.

UFG Insurance listened.

Welcome to a better way to work online — because you deserve it.

BOP-Pro Get down to (small) business with this robust businessowners policy, including select endorsements to take coverage to the next level.

Pro-Quote Get from start to bind with fast efficiency thanks to smart tools and straight-forward appetite within this enhanced quoting experience.

Simple solutions for complex times

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

ufginsurance.com/online © 2021 United Fire & Casualty Company. All rights reserved.

CONTENTS wisconsin INDEPENDENT AGENT JUNE 2021

wisconsin INDEPENDENT AGENT

COVER STORY: Register Today for InsurCon2021 on August 10-11, 2021

Mark your calendars for our annual convention on August 10-11. Join us in-person at the Kalahari Resorts & Convention Center along with our keynote speaker: Joe Theismann. Save your spot for InsurCon2021, visit iiaw.com/insurcon to register now.

PAGES

4-8

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

2020-2021 EXECUTIVE COMMITTEE President:

Darrel Zaleski | Spectrum Insurance Group, Eau Claire

President-Elect:

Marc Petersen | American Advantage - Petersen Group, New Berlin

Secretary-Treasurer:

INSURANCE BARTENDER.........................................................9 Coming Soon... IIAW’s Industry Insights Report

RISKY BUSINESS.............................................................................12-13

Nick Arnoldy | Marshfield Insurance Agency, Inc., Marshfield

Chairman of the Board:

Chris Costakis | Midwest Insurance Group, Delafield

State National Director:

Small Steps, Big Impact

Steve Leitch | Leitch Insurance, River Falls

WORKERS’ COMP..........................................................................14-15

2020-2021 BOARD OF DIRECTORS

17 “Tests” to Decide: Employee or Independent Contractor

Mike Ansay | Ansay & Associates, Port Washington

AGENCY OPERATIONS................................................................16

Mike Harrison | R&R Insurance Services, Inc., Waukesha

What Will the Future of Work Look Like?

Aaron Marsh | Marsh Insurance Services, Inc., Rice Lake

ERRORS & OMISSIONS................................................................20-21

Joanne Lukas Szymaszek | Johnson Insurance Services, LLC, Racine

Claims Made and Polling Letters

GOVERNMENT AFFAIRS.............................................................23 Self-Service Storage Insurance Bill Resurfaces

VIRTUAL UNIVERSITY.................................................................26-27 COVID and the Cost of Building Materials

MEMBERS IN THE NEWS..............................................................28-29 FOOD FOR THOUGHT....................................................................35

ADVERTISERS INDEX AAA......................................................................31 Ansay & Associates........................................15 Badger Mutual Insurance............................31 Berkshire Hathaway GUARD....................22 Erickson Larsen...............................................29 IMT........................................................................32 Penn National...................................................11 Robertson Ryan & Associates..................13 UFG.......................................................................2 West Bend..........................................................19 Western National............................................24

Dan Lau | Robertson Ryan & Associates, Milwaukee Chad Tisonik | HNI Risk Services, LLC, New Berlin Andrea Nelson | Unisource Insurance Associates, LLC, Wauwatosa Jonathon Zwettler | Baer Insurance Services, Middleton

IIAW Staff Matt Banaszynski | Chief Executive Officer 608.256.4429 • matt@iiaw.com Mallory Cornell | Vice President and Director of Risk Management 608.210.2975 • mallory@iiaw.com Kim Kramp | Association and Agency Accounting Manager 608.210.2976 • kim@iiaw.com Trisha Ours | Director of Insurance Services 608.210.2973 • trisha@iiaw.com Kaylyn Zielinski | Marketing and Communications Coordinator 608.210.2977 • kaylyn@iiaw.com Evan Leitch | Technology and Risk Advisor 608.210.2971 • evan@iiaw.com Andrea Michelz | Membership Engagement Coordinator 608.210.2972 • andrea@iiaw.com Diana Banaszynski | Education Coordinator 608.256.4429 • diana@iiaw.com Laura Pitsch | Agency Accounting Specialist 608.256.4429 • laura@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. © 2021 For information on advertising, contact Kaylyn Zielinski, 608.210.2977 or kaylyn@iiaw.com. wisconsin INDEPENDENT AGENT

| JUNE 2021 | 3

AUGUST 10-11 KALAHARI RESORTS WISCONSIN DELLS, WI

TUESDAY, AUGUST 10TH 1PM -3PM

IIAW BOARD MEETING

This meeting is invite-only.

5PM-9PM

SUNSET DINNER BOAT CRUISE

Join us for a Sunset Dinner Boat Cruise. Transportation for the dinner cruise will depart at 5PM from the Kalahari Convention Center. Kick off InsurCon2021 with dinner and cocktails on the Wisconsin River.

Africa East

Kalahari Convention Center Entrance

(Limited space available on a first come, first serve basis. Additional charge)

WEDNESDAY, AUGUST 11TH 9AM-9:45AM Africa East

10AM-10:45AM

Africa East

11AM-12PM Africa East

12PM-1:15PM Africa East

1:15PM-2PM Africa East

2PM-5PM

Africa West

9PM-MIDNIGHT Africa East

4 | JUNE 2021 |

INDUSTRY INSIGHTS

As the industry continues to experience many technology, legislative and regulatory changes, it is important to take the time to discuss what is most important for agents to know.

Join Matt as he leads a discussion with thought leaders about industry knowledge and insight on emerging trends, threats and opportunities. This discussion will also include Q&A if time permits.

POWERED PRODUCTIVITY

Beth, aka your Nerdy Best Friend, will provide a light-hearted, entertaining look at tools and apps that will help you increase efficiency.

DIGITIZATION & DISTRIBUTION

Bill Pieroni, President & CEO of ACORD

Bill will offer an enthusiastic, yet statistical discussion of the independent agency carrier arena.

AWARDS LUNCHEON

Join us as we honor our 2021 Award Winners.

KEYNOTE SPEAKER

Listen to former Washington Redskins star quarterback and NFL Network Analyst Joe Theismann discuss managing unforeseen change with adversity. Joe has evolved from an athlete to a businessman and his high-energy presentation is one you will not want to miss! We will also be giving away autographed items.

Matt Banaszynski, IIAW CEO

Beth Ziesenis, Your Nerdy Best Friend

Joe Theismann, Hall of Fame Quarterback & NFL Analyst

EXHIBITOR SHOWCASE

This year’s Exhibitor’s Showcase is a must-see event!

With more exhibitors and more prizes, don’t miss the opportunity to win cash or to meet your next great partner for success. InsurCon2021 will feature the first ever Blackout Bingo, where agency owners and employees will have the opportunity to win prizes, including cash!

EVENING ENTERTAINMENT

It’s time to cut loose and enjoy some great entertainment and music from Granny Shot. This is a great time to network, enjoy company hospitality lounges and just have fun!

wisconsin INDEPENDENT AGENT

$144 VALUE INCLUDED WITH YOUR INSURCON2021 REGISTRATION

VOUCHER DETAILS

In an effort to reduce the amount of time attendees will spend in smaller breakout rooms, we will be providing a voucher good for 6 FREE CE Credits (a $144 value). Attendees can redeem their free CE courses online in the comfort of their own home.

Joe Theismann is an entrepreneur and the former star quarterback for the Washington Redskins. Most recently, he spent the last 2 decades working for ESPN and the NFL Network as an NFL analyst. A 12-year NFL veteran, Joe played in 163 consecutive games from 1974-1985 for the Washington Redskins and holds Redskin records for passing yardage, completions and attempts. He was a two-time Pro Bowl selection and Pro Bowl MVP. Joe Theismann’s career ended abruptly in 1985 after sustaining a badly broken leg during a Monday Night Football game against the New York Giants on national television. In 2003, he was inducted into the College Football Hall of Fame.

JOE THEISMAN N

With every chapter of his life, Mr. Theismann evolved from athlete to the ultimate businessman. An Emmy award winning analyst, business man and athlete, he utilizes his gifts, talent and high energy to share his strategies for handling unforeseen change.

Hall of Fame Quarterback & NFL Network Analyst

BETH ZIESENIS Your Nerdy Best Friend

Since her first Motorola RAZR flip phone, Beth has made a verb out of the word “nerd”. She’s here to help you filter through thousands of apps, gadgets, widgets and doodads to find the perfect free and bargain technology tools for work and home. Beth Z has been featured on Best Speaker lists by several organizations.

BILL PIER ON I President & CEO of ACORD

Bill’s career has spanned technology, operations, and top executive roles at several top insurers, brokers and consulting firms. Bill’s areas of particular expertise include digitization, change management and the strategic and capability imperatives for high performance in the insurance industry.

6 | JUNE 2021 |

wisconsin INDEPENDENT AGENT

MEMBER

$

149

NON-MEMBER

$

E X H I B I T O R S H O W C A S E O N LY

199

$

79

Keynote Speakers

Keynote Speakers

Exhibitor Showcase

6 Online CE Credit Vouchers

6 Online CE Credit Vouchers

August 11th, 2021

Exhibitor Showcase

Exhibitor Showcase

2:00pm-5:00pm

Convention Evening

Convention Evening

Entertainment & More!

Entertainment & More!

*attendees will be identified with a different colored badge

Group reservations of 8 or more will receive a 10% discount. This applies to full registrations only.

Please contact info@iiaw.com for group reservations.

REGISTER NOW AT IIAW.COM/INSURCON

COVID-19 We will be following all safety guidelines outlined by the Kalahari, the Wisconsin Department of Health Services and the CDC to make InsurCon2021 safe and enjoyable for all attendees. As guidelines evolve, we will be clearly communicating any requirements or changes that attendees and exhibitors will need to know as we approach the event date.

Questions?

Please call the IIAW at 608.256.4429 or email info@iiaw.com. Refer to www.iiaw. com/insurcon for complete event details, sponsorship opportunities and exhibitor information.

Hotel Information All convention events will take place at the Kalahari Resort & Convention Center. Rooms are available for Wednesday, August 11th.

Please indicate that you are attending the Independent Insurance Agents of WI InsurCon event to receive the group rate. A link for online reservations is located on the convention registration page found on our website, www. iiaw.com/insurcon.

Exhibitor Information The annual Exhibitor Showcase will be held on Wednesday, August 11th. Exhibitors are invited to review the new registration options and Blackout Bingo participation opportunity.

Details and online registration can be found on our website, www.iiaw.com/insurcon. wisconsin INDEPENDENT AGENT

| JUNE 2021 | 7

EXCLUSIVE COMPANY SPONSORS

8 | JUNE 2021 |

wisconsin INDEPENDENT AGENT

INSURANCE BARTENDER

COMING SOON... IIAW’S INDUSTRY INSIGHTS REPORT I once heard someone say, “Change will lead to insight far more often than insight will lead to change”. Immediately upon hearing this, I paused and pondered the meaning of this phrase. To gain additional insight into this intriguing quote, I did a little research. I soon discovered that the gentlemen, Milton Erickson, who is credited with coming up with it was an American psychiatrist and psychologist who was recognized for his approach to the unconscious mind as creative and solution-generating. Fun fact: Milton Erickson attended the University of Wisconsin and achieved graduate degrees in both psychology and medicine. While Milton and his unique studies and perspective certainly are interesting, it’s not overly relevant to subject at hand, but the quote certainly is.

Covid brought about a lot of change for the industry not to mention the customers it serves. Never had we seen a pandemic of this proportion and such the profound impact it had in our lifetime. There is so much we can learn coming out of the pandemic and what better time to survey our company partners on their business practices and give agents insights into how they may have modified their business practices, insurance appetite or strategic areas of focus. The goal is to provide a high impactful snapshot of each company that supports the IIAW and its members with loads of information all in one useful place.

Additionally, we plan to add other pertinent information to the industry insights report such as Wisconsin and national market share data, best practices information, agency universe study, E&O claims data and more.

This report will be distributed, free of charge, to independent agencies all over Wisconsin.

All too often we go to great lengths to gather insight and information and what we learn typically results in some type of action that leads to change. But, what about when a large-scale event occurs that brings about 5 years’ worth of change in as little as a year? We mobilize to bring you a comprehensive report to serve as your guide as you pivot and evaluate the evolving marketplace to better serve your clients. The report will be distributed later this summer.

Change leads to new insights. New insights can lead to new opportunities. How will you use the Industry Insights Report to create your next opportunity?

Matt’s Mixology

Thai Basil Sangria Ingredients

• 1/4 cup sugar • 1/4 cup water • 8 basil sprigs • zest of one lemon, peeled in 3-inch strips • zest of one orange, peeled in 3-inch strips • 2 bottles chilled Pinot Grigio • 3/4 cup brandy • 1/2 cup fresh orange juice, strained • ice • chilled club soda • 12 thin orange slices, for garnish

Directions 1. In a small saucepan, combine the sugar and water and bring to a boil, stirring to dissolve the sugar. Remove the saucepan from the heat. Add the basil sprigs and lemon and orange zests. Let the syrup stand, stirring often, until cooled to room temperature, about 20 minutes. Discard the basil sprigs and zest strips.

2. In a large pitcher, combine the basil syrup with the wine, brandy and orange juice. Pour the sangria into ice-filled glasses, top with club soda and garnish each drink with an orange slice.

Recipe & Photo Courtesy of Explore Food & Wine

> Matt Banaszynski CEO of IIAW

Introducing Catalyit The IIAW is a proud co-founder and investor of Catalyit.

We simplify technology for insurance agencies. All the agency tech guidance you need...in one place.

The number of ways you can leverage tech to increase profits and serve customers is nearly unlimited. But time, know-how, and fear of risk are getting in the way.

Catalyit solves it for you.

See how Catalyit can help you thrive by visiting:

Catalyit.com Sign up today and receive a FREE download of our Top 10 Tech Tips!

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 11 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 select commercial lines-oriented agencies in Wisconsin.

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

Clayton Zogata 262.432-3422 czogata@pnat.com

• Strong financial performance and A.M. Best Financial Strength Rating of A• Expanded Commercial Lines product 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 is easier and faster to meet your customers’ needs.

• Local experienced underwriting, claims and management staff

An Equal Employment Opportunity/Affirmative Action Employer ©2020 Penn National Insurance

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

IIAW_Ad_Brand.pdf 1

9/16/2019 12:02:52 PM

RISKY BUSINESS

SMALL STEPS, BIG IMPACT We spent the last year at home cleaning and remodeling. It is time to clean up and remodel the agency now.

I have not met anyone in the last twelve months who has argued that our lives have not changed during the pandemic. Many experienced financial hardships, sadness over not being able to see family and a general exhaustion from adapting to new circumstances. Others embraced their newfound family time, welcomed saying goodbye to commutes and started a healthier lifestyle. Whatever your experience, you may not have planned for this lifechanging event and had to navigate your way through it. As we start to see the light at the end of the tunnel, it is time to reflect, learn and adjust.

Where do we start?

Professionally speaking, start with some small steps at the agency level. We have all been through a lot. Now may not be the time to take on big projects.

Communicate Over the last year what has been caused the most professional stress for yourself and your employees? I speak to agents around the nation and most of them report to be “figuring it out”. Well, that is a good start! When working arrangements were altered, many agencies quickly recognized operational workflows that were not flexible for employees.

Now is a great time to step back and make a new plan. As our world changed, the exposure for E&O claims did too. Here are some questions to ask of your agency and some solutions if the answers are not as favorable as you would have expected.

12 | JUNE 2021 |

wisconsin INDEPENDENT AGENT

1. What is the process for reviewing the exposures of new business customers?

If the answer is just looking at their previous policy, you may be inheriting the last agent’s mistakes and missing an opportunity to build the relationship with a new customer. With so many tools available, you have the power to decide how to deliver an exceptional customer experience and provide the correct coverage.

2. Does your agency use waivers to show a client acknowledgment when they opt out of a recommended coverage?

Not clearly documented a customer’s declination of coverage is the easiest way to find yourself struggling to defend an E&O claim. They would have purchased the coverage if you would have offered!

Signed waivers or written follow ups are key for a solid defense. Do not relay on “notes” in the system.

Get it in writing from the customer.

3. How do staff communicate changes to a customer’s policy?

Your customer asked you to find better pricing, so you had to shop the policy and move it to a new carrier. Does the customer understand the changes in coverage terms and conditions? Do not assume that individuals who are not insurance professionals understand the terminology of the industry! We love insurance, but not everyone is like us.

4. How do staff document material conversations with a customer?

Material conversations include discussions on exposures for new and existing customers, changes in coverage needs and any other discussions that may affect their insurance profile. When these conversations take place, is there a consistent way of documenting what was discussed, with whom and what the outcome is? With all of the changing forms of communication, ensuring these conversations are well-documented is essential to seamless customer service and E&O protection.

5. What practices are in place within the agency to help employees avoid making errors?

Creating a culture of E&O awareness and open communication is key to continuous improvement and effective workflows. Would an employee feel comfortable standing up and saying, “I made a mistake. Can you please help?” Or would they risk trying to ‘fix’ it themselves?

The concept of an error or mistake stems from human failings – something we are all guilty of. Examining agency workflows to see if there are proper tools and reviews in place to help mitigate human failings will make a big difference in employees feeling empowered to discuss potential errors and in effectively avoiding errors that may lead to E&O claims.

Taking just a few small steps to revive agency practices is important now and on annual basis. Many of us know how precious time is when we are trying to juggle so many aspects of the day but set aside an annual review with the internal team or an external partner. You may find a need for easy updates or you may sleep a little more soundly by knowing you are on the right path.

> Mallory Cornell,

IIAW Vice President and Director of Risk Management

wisconsin INDEPENDENT AGENT

| JUNE 2021 | 13

WORKERS’ COMP

17 “TESTS” TO DECIDE: EMPLOYEE OR INDEPENDENT CONTRACTOR “I don’t have any employees; they are all independent contractors.”

“What makes them independent contractors,” the agent asks.

“I pay them using a 1099.”

OK, so most readers know that the reality of an “independent contractor” is not dependent on how the person is being paid – even if they are paid in mustard. The reality of an independent contractor relationship is based on the facts of the relationship.

What follows are 17 “tests” to aide in deciding if the relationship is truly that of an independent contractor or an employee. If more than one or two “tests” are failed, the person is likely an employee based on the facts. And when employee status exists, workers’ compensation must be provided, and a premium must be paid.

1. Degree of control. When the worker is a true independent contractor, the contracting party does not have the right to control the method or manner of job performance – only the outcome. If the methods and manner are controlled, that’s an indication of employee status.

2. Right to discharge. The contracting party does not have the right to discharge an independent contractor as long as contractual obligations are being met. The right to discharge for or without cause is sign of an employee.

14 | JUNE 2021 |

wisconsin INDEPENDENT AGENT

3. Right to delegate work. An independent contractor has the right to bring in whomever it wants to accomplish the purpose of the contract. The lack of such ability indicates employee status.

4. Right to hire and fire. An independent contractor has the right to hire and fire help in the performance of the contract. Lack of this right is a sign of employment.

5. Payment practices. Independent contractors are paid by the job not by the hour, week, month, etc.

6. Training. The contracting organization should not provide or require training for the contractor or any inexperienced employees of the independent contractor.

7. Skills. Independent contractors are generally seen as skilled workers.

8. Duration of the relationship. Independent contractors are hired for a specified time period. Continuous, ongoing work indicates employee status.

9. Hours worked. An independent contractor is allowed to set work hours. Employees are told when to show up, take breaks, and leave.

10. Independence. An independent contractor is allowed to and does work for a number of persons simultaneously. If not allowed, that indicates employee status.

11. Tools. Independent contractors provide their own tools.

12. Bids. Independent contractors generally bid for work. Lack of a bidding process often indicates employment status.

13. Profit or loss. Independent contractors may enjoy a profit or suffer a loss from the work bid.

14. Contractual intent. The intent of the parties to create a independent contractor relationship must be in writing.

15. In business. The independent contractor is a principal of his/her own business.

16. Sequence of work. An independent contractor is allowed to determine the sequence of its work (not the sequence in which the trade is to be performed).

17. Reports. Independent contractors are not required to submit oral or written reports or attend meetings (other than safety meetings) held by the contracting party.

To be a true independent contractor requires true independence from the contracting party.

Neither the IRS nor the jurisdictional workers’ compensation authority look kindly upon such deception. The IRS will get its money and so will the regulatory authority. As an agent, don’t take the insured’s “word” that a person or group of persons is/are independent contractors – ask the questions. Make sure the insured “passes the test.”

More information on the various methodologies available for deciding between an independent contractor and an employee is available from Big I’s legal department and can be found at http://bit.ly/JuneWorkersComp

Compare the reality or facts of the relationship to these “tests,” if any “test” points to an employer/ employee relationship, investigate more closely.

Calling someone an independent contractor doesn’t make it so; paying them with a 1099 doesn’t make it so.

Take Your Business to New Heights.

Going into business was a big decision. Succession planning—your next business decision—can be even bigger. A partnership with Ansay & Associates can transition that decision by joining a group of like-minded leaders committed to measuring performance for accountability and growth.

Family-owned and committed to your success for over 75 years, we cultivate insurance carrier options and design insurance solutions that last well beyond the initial merger.

PARTNERSHIP.ANSAY.COM | 888.262.6729

> Chris Boggs, IIABA Executive Director of Risk Management and Education

AGENCY OPERATIONS

WHAT WILL THE FUTURE OF WORK LOOK LIKE? The future of work is already here.

Last year, when the pandemic forced workers back home, we all asked ourselves how long this way of working would last. Employers questioned whether or not productivity would take a nosedive, and workers wondered how long they could survive working at home with kids, spouses, and unending distractions. As it turns out, productivity has gone up for many organizations, and workers have settled into their home office routines.

There is no going back, and many workers are actually quite happy about that.

In Deloitte’s recent Global Human Capital Trends report, the majority of people surveyed reported no desire to return to full-time work at the office. In further questioning, respondents suggested that twice monthly in-person meetings was enough to remain engaged with peers, maintain business continuity with managers, and feel energized about their work. Most telling is that the surveys didn’t reveal a bias across different job types, pay levels, or markets served. In a LiveCareer survey, 30% said that if going back to the office is inevitable, they’d like to work there just three days a week. Twenty-five percent said two days a week, and 19% said one day.

So, what happened? Why did the people who dreaded working remotely now change their minds?

The common thread seems to be that people feel more connected with their immediate families and significant others, more balanced in life, and more productive at work. This past year, people who used to work daily in the office held Zoom calls while their newborn slept in the next room, took walks with their dogs while the sun was still out, sat on the porch with their spouse while drinking coffee, introduced colleagues to their families, spent time with their high school seniors before they left for college, and didn’t waste any time commuting. People took a closer look at what’s important, and they don’t want to go back to the way it was before.

16 | JUNE 2021 |

wisconsin INDEPENDENT AGENT

While it’s true that many workers showed greater levels of stress during the pandemic, this isn’t solely attributable to working from home. Researchers indicate that ambiguity and concerns around job stability, health, the health of loved ones, and the lack of ability to see others outside of their households were the most significant drivers of emotional stress and anxiety. Psychologists, who have reported greater demand for patient services, indicate that the closeness of immediate loved ones has actually played a role in diffusing what would otherwise be a higher level of anxiety and stress.

In another interesting turn, the number one reason people now list for leaving a job is – you guessed it – not having the ability to work from home. A recent article in USA Today reported that 30% of working professionals will quit their jobs if they are forced to return to work after the pandemic. Smart businesses will take workers at their word and will find ways to offer flexible work options so that they can attract and retain the best talent. As reported in The Atlantic, the meteoric rise of remote work is already leading to a redistribution of talent across the country. Businesses now can (and should) look for talent anywhere.

Beyond remote work arrangements, office spaces have changed forever too. Many businesses are already reimagining office space to include smaller satellite locations versus large headquarters, reservable workspaces, fewer conference rooms and more spaces for occasional collaboration sessions.

At WAHVE, we’re excited to see the remote work trend finally gain a foothold that’s going to last. We’ve always understood the power of remote work and the value of diverse talent. When talent doesn’t have to be bound by geographical locale or physical office location, you can truly build the best teams with the most diverse ideas. It’s what allows creativity and problem-solving to thrive.

IIAW CONTINUING EDUCATION

2021 ONLINE EDUCATION & CE CLASSES

J UNE & JU LY 2 0 2 1 SC H EDU L E DATE

TIME

COURSE

6/07

11AM-1PM

Insight on Modern Day Cyber Exposures & Risk Management

6/08

11AM-1PM

5 Contractor Coverage Concepts Every Agent Must Understand

6/11

9AM-12PM

Commercial Lines Claims That Cause Problems

6/15

9:30AM-11:30AM

6/16

10AM-12PM

6/17

9AM-11AM

Contracts Agents Should Read

6/18

9AM-12PM

E&O - Commercial Property Coverage Gaps & How to Fill Them

6/21

9AM-12PM

E&O - Roadmap to Homeowners Insurance

JUNE

3 Keys to Getting the Named Insured Correct Business Auto Claims That Cause Problems

6/22 1PM-4PM Understanding the Largest Government Benefits: Social Security 6/28

12PM-3PM

Agency Management Based E&O and Ethics

7/01

12PM-2PM

Those Kids and Their Cars

7/02

9AM-12PM

E&O - Roadmap to Homeowners Insurance

7/05

9AM-11AM

Coverage Disputes Between Thompson & Boggs, You Be the Judge

7/06

8AM-10AM

Builders Risk and Contractors Equipment

7/08

10AM-12PM

5 Contract Coverage Concepts Every Agent Must Understand

7/09

9AM-12PM

Commercial Lines Claims That Cause Problems

7/15

9AM-11AM

Contracts Agents Should Read

7/16

9AM-12PM

E&O - Commercial Property Coverage Gaps & How to Fill Them

7/19

9AM-12PM

E&O - Roadmap to Homeowners Insurance

7/21

10AM-12PM

Business Auto Claims That Cause Problems

JULY

FOR MORE INFORMATION AND TO REGISTER FOR THESE CLASSES, VISIT IIAW.COM/EDUCATION

IIAW PRELICENSING CLASSES Since 1993, more than 20,000 students have graduated from our in-classroom prelicensing school.

The IIAW in-classroom prelicensing school has some of the highest passing ratios in the state for the last 25+ years!

“Overall the class went very well and I felt included as if I was in the room.”

-Former Online Student

IIAW PRELICENSING CLASSES:

• Now offering classes in-classroom and broadcasting online* in real-time • Located at IIAW Headquarters • Fulfills the study requirements for life, health, property and casualty • Designated to help you pass your state licensing examination • Taught by an experienced insurance professional * Just select the online (virtual class) option when registering.

CLASS SCHEDULE: LIFE & ACCIDENT/ HEALTH

August 23-26 October 4-7

PROPERTY & CASUALTY

July 12-15 September 13-16 November 1-4

REGISTER AT IIAW.COM

To register, click the Education tab on IIAW.com.

IIAW Member Pricing: $374* Non-Member Pricing $399* The course fee includes all class materials. Materials are distributed on the first day of class. You receive: • Life & Accident/Health or Property & Casualty Insurance Study Manual • The Intermediary’s Guide to Wisconsin Insurance Law • The State of Wisconsin Ins. Licensing Candidate Handbook (This provides all the information to obtain a license) • Exam Simulator - A computer program designed to help you pass your prelicensing exam on the first try For any questions please contact diana@iiaw.com. *Pricing given for full class registration. You may also take individual classes. * If taking the course online, the IIAW will mail the study manual to your preferred address.

MEET OUR INSTRUCTOR Gabrielle O’Brien, MBA, has been active in the insurance industry for more than 25 years, developing continuing education classes in related fields such as Ethics and Errors and Omissions. As the lead instructor of the Independent Insurance Agents of Wisconsin’s Property & Casualty and Life & Health Prelicensing Schools, she has guided thousands of students to successfully passing the insurance intermediary’s exam. O’Brien has participated in many other aspects of the industry as an underwriter, manager, and field representative.

O’Brien’s received her Master of Business Administration from Loyola University and her Bachelor of Arts from Saint Mary's College.

It shouldn’t take a storm of immense proportions to find out who your customers can count on.

BUT SOMETIMES IT DOES. And that’s the Silver Lining®.

ERRORS & OMISSIONS

CLAIMS MADE AND POLLING LETTERS “Polling Letters” are indispensable errors and omissions (E&O) tools of utmost importance.

As the name suggests, these letters “poll” the insured’s key employees to inquire whether or not those polled are aware of any incidences that qualify as or may lead to a “claim.” When coverage is written on a claims made basis, situations arise that require their used.

In a “Pure” Claims Made form the “basic” or “automatic” ERP is triggered if or when the policy is cancelled, whether by the insured or the insurance carrier. But when coverage is written on a Claims Made and Reported basis, the ERP is triggered at the end of every policy period – because the “claim” must be reported in the same policy year it is received by the insured.

Coverage written on a “claims made” basis responds to defend and/or pay/indemnify only those “claims” made or filed during the policy period. Any “claim” or “potential claim” known to have been made or received during the policy period but not reported during the policy period or applicable extended reporting may result in severe coverage or limits restrictions or the total denial of coverage.

When liability coverage is provided by one of these claims made forms, polling letters are necessary (not just recommended) when any one of three events occur: 1. When the “basic” or “automatic” extended reporting period is triggered; 2. When there is a reduction in coverage; or 3. When the retroactive date is advanced.

There are two primary “types” of claims made policies: • “Pure” Claims Made; and • Claims Made and Reported A “Pure” Claims made policy responds to claims made during the policy period provided the covered act (wrongful act, error or whatever triggers coverage) occurred after the retroactive date. A Claims Made and Reported form responds only if the “claim” is reported to the carrier in the same policy year the “claim” is received.

Both types have extended reporting period (ERP) provisions (“tail” coverage), but the ERPs are triggered at different points in time.

20 | JUNE 2021 |

wisconsin INDEPENDENT AGENT

Triggering the Extended Reporting Period Whether the event triggering the ERP is the cancellation or non-renewal of a “Pure” Claims Made policy or the end of the policy period in a “Claims Made and Reported” policy, the insured must be polled to inquire whether or not there are “claims” that require reporting to the insurance carrier. If a claim that should be filed is not, the insured could be penalized by severe coverage restrictions or the outright denial of coverage.

Extended reporting periods allow the insured additional time beyond the end of the policy period to submit a “claim.” Policy language may allow the insured up to an additional 30 or 60 days beyond the expiration of the policy period to submit the “claim.” A “claim” submitted

during the ERP is treated as if it was submitted on the last day of the policy period.

Anytime an ERP-triggering event occurs, polling letters must be completed to assure all “claims” and potential “claims” are revealed. These letters should be completed no later than 10 days following the end of the relevant policy period. However, some additional time may be acceptable if the ERP is 60 days.

Reductions in Coverage and an Advanced Retroactive Date These changes are closely related because the insured is losing protection that existed previously. When the retroactive date is advanced, acts that occurred after the previous retroactive date and before the new retroactive date are no longer extended protection. If the insurance carrier attaches exclusionary endorsements at renewal, the insured does not have the breadth of coverage previously available.

Because the insured is negatively affected by a reduction in protection, the insured needs the opportunity to file any potential “claims” covered under the current policy that may not be granted coverage by the renewal policy. Polling letters provide an effective method to gather this information.

Regardless which of these two events trigger the need for a polling letter, the insured should complete all polling letters no more than 10 days prior to the expiration of the current policy. This allows time for any newly discovered “claims” that may be excluded under the renewal policy to be filed with the carrier.

Key Definition “Claim” is a key term that appeared within quotation marks throughout this whitepaper.

When constructing polling letters, the definition of a “claim” as provided in the policy must be included within the polling letter.

Why? Because there is no singular definition of a “claim.” A “claim” may be defined in the policy as the receipt of a legal document (suit

papers); but the definition may be as broad as a threat to sue or a demand for money. Regardless, provide the definition within the polling letter. If the policy includes “potential claims” or a similar term within its definitions, this definition should be included as part of the polling letter as well.

Who Must Complete the Polling Letter?

The larger the company, the more responses required. Neither the CEO, CFO nor COO know every possible situation that may give rise to a claim. Each person has a different area of responsibility, expertise and knowledge of events.

When the organization is a...

The polling letter should be completed by:

Corporation

All officers and directors at minimum

LLC

All members and managers at minimum

Partnership (LLP, GP or Other)

All partners at minimum

Sole Proprietorship

The sole proprietor and any key managers at minimum

Learn to Love ‘Em ​ dd polling letters to your new business or A renewal routine anytime a claims made policy is involved. Polling letters are especially important when coverage is written on a Claims Made and Reported form because they need to be completed at every renewal.

Claims made forms are most often used to provide Directors and Officers (D&O) coverage, Employment Practices Liability Insurance (EPLI) coverage, errors and omissions (E&O) coverage, professional liability coverages and sometimes even general liability coverage for unique or difficult insureds. When any of these situations arise, do the client and the agency a favor and use polling letters to assure claims are filed on time and with the correct insurance carrier. > Chris Boggs, IIABA Executive Director of Risk Management and Education wisconsin INDEPENDENT AGENT

| JUNE 2021 | 21

AmGUARD • EastGUARD • NorGUARD • WestGUARD

Commercial & Personal Lines Insurance solutions for homeowners and small, medium and large businesses.

Competitive pricing, multi-product discounts, and easy submission process!

APPLY TO BE AN AGENT: WWW.GUARD.COM/APPLY Not all Berkshire Hathaway GUARD Insurance Companies provide the products described herein nor are they available in all states. Visit www.guard.com/states/ to see our current product suite and operating area.

GOVERNMENT AFFAIRS

SELF-SERVICE STORAGE INSURANCE BILL RESURFACES Representative Samantha Kerkman (R-Burlington) and Senator Van Wanggaard (R- Racine) are re-introducing legislation this session to allow self-service storage unit owners and employees to sell insurance without being licensed. A national group called the Self Storage Association (SSA) is advocating for the measure around the nation and claims over 40 states have passed similar legislation. Interestingly, Wisconsin self-storage unit owners are already allowed to offer insurance through a licensed intermediary.

Like similar efforts in prior legislative sessions (three consecutive sessions to be exact), this year’s version continues to chip away at long-standing consumer protections embedded in agent and company licensing regulations designed to ensure consumers understand what they are purchasing should an unexpected loss occur. Wisconsin has a reputation for strong, balanced regulatory climate designed to benefit both consumers and industry. Self-storage insurance is notoriously known for limited coverage for certain items like art or antiques and often does not cover climate, theft or pest related claims. Moreover, policyholders may already have sufficient coverage under their homeowners or rental policy, making the argument that purchasing storage insurance could be duplicative and should be made through a licensed agent. Sometimes coverage of property may also be covered under a separate policy or even under the consumer’s credit card agreement.

The current version of the bill would allow self-storage owners and employees to sell property coverage to their customers if the following conditions are met: 1. An insurer or third party supervising entity directly supervises and trains the self-storage owners and employees (insurers are responsible for supervising the administration of the sale).

2. The insurer or entity maintains a registry of their selfstorage locations and makes the list available to the Commissioner of Insurance upon request.

3. And although an improvement from previous bills, the current legislation would require self-storage coverage to be primary over any other coverage for the same loss.

The proposal also sets up a series of minor consumer disclosures. For example, it includes a requirement that consumers have the right to file a complaint with the Office of the Commissioner of Insurance (OCI). The OCI would be able to issue a fine to selfstorage owners up to $500 per offense and prohibit future sales. However, because self-storage insurance employees and owners do not have to be licensed by the OCI, the department would likely have minimal regulatory oversight to remedy consumer complaints should an employee mislead or misinform a consumer concerning coverage details or pocket premium dollars meant to secure coverage. In both scenarios under existing law, the OCI can issue an administrative action against an insurer or revoke an agent’s license, when necessary. Other disclosures include a notice that the policy may duplicate coverage offered under a renters or homeowners policy and they must also disclose enrollment if their insurance coverage is not required to obtain rental space.

Allowing self-storage operators and their employees to sell insurance without a license can be a slippery slope because other industries are sure to follow seeking a similar exemption. Selling insurance products without a license and with no regulatory controls is ripe for disaster and is plain just bad public policy. IIAW’s Board of Directors discussed this issue in depth at its recent spring meeting in Kohler, Wis. and the Association is fully prepared to oppose the bill when it is introduced and a public hearing is held later this year.

>M isha Lee IIAW Lobbyist

wisconsin INDEPENDENT AGENT

| JUNE 2021 | 23

Agency Solutions TRUSTED CONSULTING FOR THE INDEPENDENT AGENT

We know how important it is for you to succeed in business.

The IIAW has created a portfolio of solutions built just for you.

OPERATIONAL EVALUATION Evaluate agency workflows and operational procedures with a customized plan for your agency

VISIT IIAW.COM/AGENCYSOLUTIONS TO START YOUR FREE PERSONALIZED EVALUATIONS.

Explore other Agency Solutions evaluations:

TECHNOLOGY

STRATEGIC

FINANCIAL

MARKETING

Questions?

Contact Mallory Cornell IIAW Vice President mallory@iiaw.com

VIRTUAL UNIVERSITY

COVID AND THE COST OF BUILDING MATERIALS Several months ago, I had a new roof put on my house (by the way, I paid for the new roof and did not make an insurance claim) and was shocked by the cost estimates.

The roofer explained that the cost of shingles had increased substantially over the last year due to production interruptions caused by the Covid response.

Just this week I was informed that the price of lumber has also tripled over the past year. Hopefully, this is a short-term situation, but it does raise a concern regarding the cost of construction compared to the property limits provided by a given f insurance policy. Granted, not all property losses are total losses, however significant increases in construction material could affect a large property loss, possibly exhausting the available amounts of coverage.

What coverage options are available to mitigate a situation of rapidly increasing construction costs?

Homeowners’ Within the homeowners’ program, two options are available: • Attach the Inflation Guard Endorsement; and/or • Attach one of the two “Additional Limits” endorsements.

Inflation Guard (HO 04 46) The inflation guard endorsement increases the initial policy limit on a pro rata basis throughout the policy period.

Unfortunately, choosing an inflation percentage is a lagging indicator and is a guesstimate that may not predict the increases from an event like a pandemic interrupting the material supply chain.

Depending on the inflation guard percentage chosen, the

additional premium for inflation guard protection can range from a 2 percent increase to about 6 percent.

“Additional Limits” Endorsements Two “additional limits” endorsements are available; both allow the insured to purchase an additional amount of coverage AFTER a loss occurs. The two available endorsement are: • Additional Limits of Liability for Coverages A, B, C and D (HO 04 11). This endorsement allows the policyholder to purchase the necessary amount of additional limit for Coverage A to equal the property’s replacement costs after the loss. Increasing Coverage A automatically increases Coverages B, C and D when this endorsement is attached; or • Specified Additional Amount of Insurance for Coverage A (HO 04 20). This endorsement allows the policyholder to buy up to a specified percentage of the Coverage A limit only. If the specified limit is 25% and the policy Limit of Insurance for Coverage A is $300,000 then in the event of inadequate insurance after a loss the policyholder would have the option to buy the necessary additional coverage limit for replacement cost up to $75,000. Two percentage options are available, 25% and 50%, but some carriers may not allow the use of the 50% option.

Of the two, the Additional Limits of Liability for Coverages A, B, C and D is the preferred option because it allows the insured to purchase whatever additional amount is necessary and all other coverage limits increase in relation to the new Coverage A limit. However, some homeowners’ insurance carriers will not use the HO 04 11, limiting the insured to only the HO 04 20.

One major advantage of both additional limits endorsements is the removal of the insurance-to-value (often referred to as the coinsurance) provision in the homeowners’ policy.

When either of these endorsements is attached, the insured is not subject to the provision.

As expected, attaching either of these endorsements increases the premium. Use of the HO 04 11 increases the premium approximately 15%; attachment of the HO 04 20 increases the premium between three and six percent depending on which percentage option is chosen (25% or 50%).

Commercial Property For commercial property exposures, there is no option to purchase an “additional limits” type of endorsement.

However, blanket coverage for multiple buildings and business personal property does allow coverage to expand beyond the building limit scheduled on the Statement of Values. In theory, the entire blanket limit could be expended on one component of covered property.

But use of the blanket option does not automatically avoid a coinsurance problem. However, coinsurance can be suspended by using Agreed Value. Blanket Agreed Value is a favored approach to the limits problem and the coinsurance problem.

“You get your old building back constructed with new materials.” But most policyholders do not want their old building back rather they want a new building constructed with new materials. This sounds semantic, but the difference in the old building and the new building are the changes in building codes.

The property insurance policy is designed to pay for things that are damaged by a covered cause of loss. If replacing the damaged building requires building features mandated by building codes but not part of the “old” building, then the property insurance policy does not respond to these new building code mandated features. Additionally, if the undamaged part of the building must be demolished, the demolition of the undamaged part is cause by the mandate of the building inspector, not by the covered cause of loss.

What most policyholders want after a loss is, in fact, reconstruction costs not just replacement cost. If the insurance policy does not pay the full reconstruction cost of the damaged building, the policyholder may be unhappy with the settlement and think that replacement costs as defined by the insurance policy is not what they thought they were getting. The policy did not meet their reasonable expectation.

Beginning in approximately 2007, insurers began attaching an endorsement that diminishes the value of blanket coverage, the Limitation on Loss Settlement-Blanket Insurance (Margin Clause). This endorsement limits the amount available for any one building to a percentage of the amount scheduled in the Statement of Values. For example, a building scheduled in the Statement of Values at $500,000 is damage by a covered cause of loss and the actual replacement cost at the time of the loss is $650,000.

If the damaged building is included on a policy providing a blanket limit of $1,000,000 then, in theory, the full $650,000 replacement cost would be recoverable. However, if the blanket policy is subject to the Margin Clause applying a 120% maximum limit, the recovery would be limited to $500,000 plus 20% - or $600,000. There are some proprietary versions of this type of endorsement that apply a limit per location. Be vigilant when reviewing commercial property policies written on a blanket basis, look for endorsements that can cap the recovery for a given item in the Statement of Values.

Where do you think the jury’s sympathy will lie?

One other issue that is not strictly related to the rising cost of building material but was central to a lawsuit against an agent in New Hampshire recently is Ordinance or Law coverage. What the insurance industry understands about the term replacement cost is not what the typical policyholder understands by the term. Technically, replacement cost, as used in most property insurance policies, replaces the damage structure with new materials.

Agents must be prepared to address these issues with the available insurance options beyond updated replacement cost estimators. Offer and use the endorsements available.

This dichotomy between “replacement costs” and “reconstruction costs” is becoming an issue of growing concern. To protect themselves, agents should make sure that policyholders are advised as to what “replacement cost” means and what its limitation are. Additionally, there should be a discussion and offer of Ordinance or Law coverage. Some property policies are beginning to include limited amount and coverage for Ordinance or Law as Additional Coverages. But these Additional Coverage may not be adequate. “Fore warned is fore armed.”

Watch Out for the Rising Cost of Building Materials COVID has created issues across the country. One that agents must be aware of is how this pandemic has affected the cost of building material. Supply chain interruptions and increased demand have caused the price of “common” building materials to increase dramatically.

> Stuart Powell, Independent Insurance and Risk Management Consultant and Executive VP, Northport Affiliates, LLC

competitive pricing to businesses in Wisconsin, Illinois, Indiana, Iowa, Minnesota, Tennessee and Colorado.

News Members in the

SOCIETY INSURANCE CHARITABLE DONATIONS EXCEEDED $175,000 IN 2020

Fond du Lac, WI (March 10, 2021) - In a year unlike any other, Society Insurance and its employees got creative, focusing their giving on immediate local needs created by the pandemic and its economic effects.

Society and its employees gave more than $175,000 to a variety of organizations, including corporate gifts to the Fond du Lac Family YMCA, Boys & Girls Club of Fond du Lac, Moraine Park Promise Program and Children’s Museum of Fond du Lac. Employees pledged $16,280 and Society matched that amount to provide almost 100,000 meals for food-insecure families in partnership with Feeding America Eastern Wisconsin.

The company donated $10,000 to the Fond du Lac Area Foundation Disaster Relief Fund and provided primary sponsorship of the Golden Ticket promotion, which encouraged community members to support local restaurants and bars during the pandemic.

Society also supported many of our front-line heroes in hospitals, police and fire departments and schools by donating meals purchased from Society-insured restaurants throughout the seven states served by the company.

As in previous years, teams of Society employees supported the Fond du Lac Area United Way ($28,957 raised) and Relay for Life ($5,669 raised) through fundraising events, many of them repurposed and virtual because, after all, need knows no season.

ABOUT SOCIETY INSURANCE: Headquartered in Fond du Lac, Wis., Society Insurance has been a leading niche insurance carrier since 1915. Society focuses on the small details that make a big difference to its policyholders while offering top-notch insurance coverage, service and 28 | JUNE 2021 |

wisconsin INDEPENDENT AGENT

ACUITY SURPASSES $3B POLICYHOLDERS’ SURPLUS

Sheboygan, WI (April 20, 2021) - Acuity announced that its policyholders’ surplus has reached $3 billion (GAAP), the largest amount ever in the insurer’s 95-year history.

“Acuity’s strong policyholders’ surplus position allows us to continue to fulfill our promise of protection to customers.

It enables us to write more insurance and to remain a resource for individuals, families, and businesses. And it supports our staffing expansion to meet the growth demands of our business,” said Ben Salzmann, Acuity President and CEO. “Policyholders’ surplus is important to everyone— customers, independent insurance agents, and our staff.

Policyholders’ surplus is an indicator of financial strength, which is critical to our long-term success,” said Wendy Schuler, Acuity Vice President-Finance.

Acuity’s growth in policyholders’ surplus has been more than four times the industry benchmark over the past 20 years.

Acuity Insurance, headquartered in Sheboygan, Wisconsin, insures over 125,000 businesses, including 300,000 commercial vehicles, and nearly a half million homes and private passenger autos across 29 states. Rated A+ by A.M. Best and S&P, Acuity employs over 1,400 people.

EMC TO HOST DIVERSITY AND INCLUSION CONVERSATIONS IN THE WORKPLACE FOR CEO ACTION’S “DAY OF UNDERSTANDING”

Des Moines, IA (April 21, 2021) - Today, EMC Insurance Companies (EMC) will join organizations across the U.S. to participate in CEO Action for Diversity & Inclusion’s third annual “Day of Understanding,” the business community’s largest movement to host candid conversations and help advance diversity, equity and inclusion in the workplace.

While CEO Action signatories continue to facilitate inperson (and increasingly virtual) conversations with their team members year-round, the Day of Understanding in April provides leaders across nearly 2,000 organizations an opportunity to lead open dialogue and inspire change with over 1.5 million employees.

As part of the day, EMC is inviting its more than 2,400 team members to join a virtual event with small group break-out sessions for education and dialogue.

“EMC’s participation in a Day of Understanding is a significant step in our company’s DE&I journey,” said Scott Jean, EMC President and CEO. “I’m proud of our team members for engaging in open and meaningful dialogue to ensure we reach our fullest potential and make EMC’s DE&I vision a reality.”

Through CEO Action, EMC will continue to work together with leaders across the coalition–leveraging opportunities for greater collaboration, sharing leading practices and helping one another turn conversation learnings into bold actions. Together, we have the power to change how millions of people talk to their colleagues about important topics, fostering an inclusive culture and moving the needle toward a more just and equitable future.

This commitment is driven by a realization that addressing diversity and inclusion is not a competitive issue, but a societal issue. Recognizing that change starts at the executive level, nearly 2,000 CEOs of the world’s leading companies and business organizations, are leveraging their individual and collective voices to advance diversity and inclusion in the workplace.

ABOUT EMC INSURANCE COMPANIES

EMC Insurance Companies is among the top 60 property/ casualty insurance organizations in the country based on net written premium, with more than 2,400 employees.

Employers Mutual Casualty Company (EMCC) was organized in 1911 to write workers’ compensation protection in Iowa. Today, operating under the trade name EMC Insurance Companies, the company provides property and casualty insurance products and services throughout the United States and writes reinsurance contracts worldwide. EMCC is licensed in all 50 states and the District of Columbia. For more information, visit emcins.com.

For more information on the Day of Understanding and the CEO Action pledge, please visit ceoaction.com/ dayofunderstanding.

ABOUT CEO ACTION

CEO Action for Diversity & Inclusion™ is the largest CEOdriven business commitment to advance diversity and inclusion within the workplace.

Are you an IIAW Supporting Company Member?

Send your press releases to kaylyn@iiaw.com to be featured in our Members in the News section.

wisconsin INDEPENDENT AGENT

| JUNE 2021 | 29

NEED ACCOUNTING SERVICES? The IIAW is here to help with all your agency accounting needs.

WHAT WE DO

WHO WE ARE

•Day-to-Day Bookkeeping •Payroll Processing • Direct & Agency Bill Reconciliations • Financial Statement Preparation • Annual Budget Preparation • Work With Your External Accountants For Tax and Auditing Needs

Our dedicated team of agency account specialists are ready to assist you! Our services are best fit for agencies lacking financial acumen on staff, agencies with mature staff looking forward to retiring and agencies looking for additional bookkeeping knowledge and support.

CONTACT Matt Banaszynski, IIAW CEO Phone: 608-254-4429 Email: matt@iiaw.com

iiaw.com

Historic Company.

Startup Mentality.

FOOD FOR THOUGHT

Visit our website today to learn more about our customized packages of protection for your personal and commercial clients.

0.837.7833

badgermutual.com

To become an Independent Agent with AAA George Maglares (847) 867-6099 GSMaglares@acg.aaa.com

PRSRT STD US POSTAGE PAID MADISON WI PERMIT NO. 549

LET US UN-SHATTER THAT BAY WINDOW FOR YOU. HOMEOWNERS INSURANCE THAT’S DESIGNED TO BE WORRY FREE A home is one of the most valuable assets. Whether it is a current homeowner, someone looking to own, or someone renting a home, financial protection is needed for the important things in life.

A homeowners policy from IMT Insurance can help your policyholders Be Worry Free.

Learn how you can represent IMT Insurance at imtins.com/contact.

AUTO | HOME | BUSINESS