The Insurors of Tennessee Bulletin 1322 by Insurors of Tennessee

bulletin YOUR ASSOCIATION NEWSLETTER

volume 13-22

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friday

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november 15, 2013

ACA Continues to Force Changes in Tennessee

New Insurors Website Will Launch in December Hundreds of insurance professionals use the Insurors of Tennessee website as a resource for technical data, industry information, job postings, event registration, education and more. And with a greater demand to access these resources from different devices and with increasing speed, it was time for us to bring a new platform to your online Association home. On December 6th, the new www. insurors.org will go live, and a new user experience will be at your fingertips. Now with new navigation, you can simply search for keywords and receive links to a wealth of resources on any given industry topic. Logged in members will be able to view licensing and CE information, RLI subagent numbers, class history and more directly on their profile page. And with a “responsive” web format, you can search for loss cost multipliers from your smartphone, read the Bulletin on your tablet or register for CE courses on your laptop. Need an App for that? Not at all, each

Insurors of Tennessee Web: www.insurors.org Ph: 615.385.1898 or 800.264.1898 Fx: 615.385.9303 E-mail: info@insurors.org

page and piece of data will conform to your screen, whatever device you choose. Just pull up insurors.org in your browser and find what you need. Manage your job postings with ease, register yourself and others for classes and events, read the current industry news, find past articles and technical data all with a few clicks of your mouse or a touch of the screen. We have listened to your concerns about our current site, and many of those concerns have been addressed with the new site’s functionality. A host of new features and functions will add to your user experience, all while making it simpler to find the information you need when and how you want it delivered. As you begin to utilize the new website features, please let us know your feedback. E-mail Daniel Smith at dsmith@insurors.org with comments and questions and we will try to implement as much of your input as possible on the new site.

Changes continue to, and as a result of, the ACA implementation. BlueCross BlueShield of Tennessee recently announced plans to send around 66,000 letters to Tennessee insureds informing them that they will need to choose a new plan in 2014. That is over half of the individual policies sold in the State.Even former President Bill Clinton has spoken out calling for President Obama’s administration to make good on its promise of “like your plan, keep your plan.” Senator Bob Corker (R-TN) is co-sponsoring a bill with Senator Ron Johnson (R-WI) which will allow Americans to keep their current plans in place. Corker stated that, “A couple in Tennessee contacted me last week to tell me the policy they’ve enjoyed for five years - as selfemployed missionaries - is being cancelled because it doesn’t meet the standards of Obamacare. And now they face the stress of losing their health coverage in January despite failed efforts to enroll in a new plan on the federal exchange. And their story is not unique. Families all across Tennessee are seeing their policies cancelled after being told, ‘If you like your health care plan, you can keep your health care plan, period.’” Despite all the issues with coverage, HHS reported on Wednesday that over 1 million Americans had completed the continued on page 4

ONLINE WEBCASTS

AGENTS & BROKERS EDUCATION NETWORK FULL SCHEDULE ONLINE Register online today! insurors.aben.tv

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Bulletin Vol. 13-22

New Webinars Added on ACA Registration Due to continued high demand from agents and brokers, the U.S. Department of Health and Human Services (HHS) has scheduled additional webinars for Big “I” members on the training and registration process in the FederallyFacilitated Marketplaces (FFMs). The webinars, which will resemble previous sessions, will be conducted by HHS staff. Interested individuals should visit http:// www.regtap.info to sign up for any of the following scheduled webinars on “Agent and Broker Participation in the Federally-Facilitated Marketplaces”: • •

Friday, Nov. 15, 1-2:30 pm EST. Registration code: ABNV3 Friday, Nov. 22, 1-2:30 pm EST. Registration code: ABNV4

For individuals who have attended earlier presentations through RegTap, the log-in process through http://www.regtap.info will be the same. For those who have not previously participated in a webinar through RegTap, HHS has compiled instructions to guide you: Click the “Register as a New User” link and click the “Submit” button to create a user account in REGTAP, the Register as a New User screen displays. Complete all of the required fields that contain a red asterisk next to the drop down, or text box. Access your e-mail used during the registration process and click the link to REGTAP provided in the e-mail. This will advance you to the REGTAP Login page where you may log in with your new credentials.

WC Loss Cost Filings Approved by Commish Tennessee Insurance Commissioner Julie Mix McPeak on November 13, 2013 released three orders approving workers’ compensation loss cost for the vol-

November 15, 2013 untary and assigned risk market, the loss cost multiplier (LCM) for the assigned risk plan, and the law only filing to reflect changes anticipated by PC289 by moving claims handling from a judicial system to an administrative system. The National Council on Compensation Insurance (NCCI) filed for an overall 8.4% reduction in loss cost to be effective March 1, 2014. As required by statue the Workers’ Compensation Advisory Council (WCAC) reviewed the filing and recommended to the Commissioner that an overall 6.95% decrease be approved. The Commissioner determined that the 8.4% decrease filed by the NCCI should be modified to produce an overall 6.95% decrease to be effective for new and renewal business on March 1, 2014. The Commissioner also issued an order that approved changing the loss cost multiplier for the workers’ compensation assigned risk plan from 1.52 to 1.56 effective March 1, 2014 for new and renewal business. The combined effect of the decrease in loss cost and the increase in the LCM produces an overall decrease for assigned risk business of 4.5%. The Commissioner also approved the NCCI filed 5.9% decrease in loss cost to reflect the change made by PC289 passed by the 108th General Assembly and becomes effective July 1, 2014. The most important change is the implementation of moving claims for a judicial to an administrative system. This law only change will be effective July 1, 2014 for new, renewal and ALL OUTSTANDING policies. Based on 2012 Tennessee workers’ compensation written premiums of over $831 million the reduction in the requested loss cost decrease from 8.4% to 6.95% means Tennessee employers will pay over $12 million more in premiums than the carriers requested. Carriers could adjust their individual LCMs to produce lower final rates based on the fact that indicated decrease was greater than the actual approved decrease or to write more marginal risks.

Webinar on Nov. 19 for New Partner DocuSign Are you interested in learning how eSignature technology makes it quick and easy for you and your clients to complete paperwork anywhere, any time? Join DocuSign, the Big “I”-endorsed partner for eSignatures, for a live webinar on Tuesday, November 19th at 1 pm EST. The 30-minute webinar will demonstrate the benefits of DocuSign for independent agents, including: • • •

An easier, faster and more convenient way for clients to interact with their agent or broker The ability for members to send and sign anything, anywhere, on any device No more need to fax or send packages overnight

Sign up for the webinar at https://www. docusign.com/webinars/docusign-training-for-big-i-members to learn how your agency can deliver great service, eliminate errors and save time and money with DocuSign. To purchase DocuSign at an exclusive discounted price, visit http://www.docusign.com/IIABA

Project CAP “How-to” Video is Now Available This week, nearly 75% of personal insurance consumers will begin their search for new coverage online. Will they find you? As the new TrustedChoice.com grows through Project CAP, now is your chance to make sure your agency has its online presence secured. CAP has created a short “how-to” video to show you just how easy it is to build your agency profile and be a part of “The Power of Independents!” Visit http://www.youtube.com/ watch?v=-jXtCjn4nkc&feature=youtu. be to watch the video now. Page 2 of 4

Bulletin Vol. 13-22

November 15, 2013

CISR -Dynamics of Service November 20th Nashville

In a competitive marketplace, an agency’s or company’s most important asset is...its people. Give your personnel the tools they need to succeed!

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Bulletin Vol. 13-22

ACA Continues to Force Changes in Tennessee continued from page 1

enrollment process, with about 10% actually selecting and finalizing a plan. That includes just under 1,000 citizens in Tennessee that have selected a plan, with over 17,000 completing the application process. CMS is hopeful that as more individuals complete the process, more agents will also complete the exchange’s training programs. Over 70,000 agents have completed the federal training, but they are hopeful that the number will rise as policies go in force on January 1st.

Big “I” Releases 2013 Best Practices Study The Big “I” has released its 2013 Best Practices Study which found an increase in agencies with specializations, expansion of technology investment and an increase in profitability across most of the study’s six revenue groups. Other findings included: • • • • •

Specialization has increased across agencies of all sizes Tech spending will increase among top agencies with social media/internet marketing at the top of the list As expected, organic growth has continued to improve dramatically since last year’s study Strong revenue growth improved profitability Last year was a strong year for value creation in agencies

“The 2013 results indicate that Best Practices agencies continue to grow and increase profitability, the key components of agency value,” says Robert Rusbuldt, Big “I” president & CEO. Purchase the full study e-book for $59.95 at http://www.iiab a . n e t /c b s u p x /e d u c a t i o n / i n d e x . aspx?page=evtpreview&evt=17939

November 15, 2013

Insurors & National All. 2014 Course Schedule

Local Board Holiday Luncheons Scheduled

Below is our schedule for National Alliance CIC and CISR courses for 2014:

Two of our local boards will be holding their annual holiday luncheons as we near the end of 2013.

3/5 CIC-Comm. Property Memphis 3/19 CISR-Insuring Casualty Nashville 3/20 CISR-Insuring Casualty Memphis 4/9 CIC-Life and Health Nashville 4/22 CISR-Agency Ops Johnson City 4/23 CISR-Agency Ops Knoxville 5/7 CIC-Agency Manage. Nashville 6/18 CISR-Pers. Residential Memphis 7/24 Ruble Graduate Sem. Nashville 8/13 CISR-Insuring Casualty Nashville 8/14 CISR-Insuring Cas. Chattanooga 8/20 CIC-Comm. Casualty Nashville 9/15 CISR-Elements of Risk Nashville 9/17 CISR-Personal Auto Johnson City 9/18 CISR-Personal Auto Knoxville 11/5 CIC-Comm. Property Nashville 11/12 CISR-Personal Lines Nashville 11/13 CISR-Personal Lines Memphis Get more information or register now at http://www.insurors.org

TN Accident Reports Now Available Online

First, the Insurors of Nashville local board will host their annual Thanksgiving membership luncheon on Wednesday, November 20th at Cabana restaurant. Insurors General Counsel Ashley Arnold will be the speaker and will be discussing the “State of the Industry in Tennessee.” Contact Falon Scott at info@insurorsofnashville.com for more information or to register. The Insurors of Memphis local board will hold their annual Holiday Luncheon & Auction on Thursday, December 18th at the Hilton Memphis. Contact Sally Baker at sallybsource@aol.com for more information or to register now.

New Flood Resources FEMA has released a variety of new resources on Biggert-Waters legislation, including:

The Tennessee Department of Safety has announced that drivers in the state may now purchase accident reports online through a new partnership. The program will be run by Appriss, Inc, who also added partnerships with Florida, Georgia, Indiana and Kentucky.

A fact sheet on what to know and say, which contains a list of talking points that can help guide your client conversations about Biggert-Waters. Available at http://www.fema.gov/ media-library-data/1382115115666-0f ba8b9a68fef69d546513c6da105bbe/ BW12_AgentW hat_to_K now_Say _ Sect205_Sept2013.pdf

The new service is already online at http://www.tnbuycrash.com and is available 24 hours a day, seven days a week. Crashes investigated by the Tennessee Highway Patrol (THP), as well as local police and sheriff departments, should be available online within seven days of the crash. The cost of an online collision report is $10.

A quick reference guide that provides an outline of important dates and changes in relation to Biggert-Waters. Available at http://www.fema.gov/medialibrary-data/41ecfedd3b889396440c30 d34b9b91ea/Agent_Quick_RefGuide_ September_2013.pdf

Citizens may continue to visit any local THP district office or law enforcement agency to purchase crash reports. The fee for these options remains $4.

A Biggert-Waters brochure intended for you to share with your clients so they always have the necessary information when making decisions about their policies. Available at http://www.fema.gov Page 4 of 4