The Tennessee Insuror May/June 21

THE TENNESSEE

INSUROR May/June 2021 Volume 32 | Number 3

In-Person is Back!

Insurors In-Person Meetings Return, Including Our 128th Annual Convention featuring Special Guests Paul Overstreet and Manley Feinberg

6 10 12

5 Ways Automation will Advance Agencies Options Abound in the M&A Buyer Universe Agents Are Here to Stay

CONGRATULATIONS Tara Belknap

Marsh & McLennan Southeast

TN Customer Service Representative Of The Year Southern Trust is proud to announce that Tara Belknap from Marsh & McLennan Southeast has been named Tennessee Customer Service Representative of the Year ! Thanks Tara for your dedication and hard work! Pictured: Kelsie Harmon, Charlie Ramsay, Tara Belknap, Chris Elliott and Chip Hoover

Josh Hearl

TIS Insurance Knoxville

TN Young Agent Of The Year Congratulations to Josh Hearl for being named Tennessee Young Agent of the Year! Thanks to Josh and everyone at TIS for your dedication in placing quality business with us!

Pictured: Chris Elliott, Josh Hearl and Kelsie Harmon

Your Trusted Insurance Company Since 1968 2

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Marketing Contact: Chris Elliott, CIC celliott@stins.com 800-476-5566 stins.com

contents

THE TENNESSEE

INSUROR Vol. XXXII, Number 3 May/June 2021

features

Phone (615) 385-1898 Toll Free: 1-800-264-1898 Email: info@insurors.org Editor: Ron Travis Publisher: Daniel D. Smith Jr., CAE

4 In-Person is Back!

INSURORS OFFICERS

President .................................................................... Bob McIntire IIABA National Director .............................. Cindi Gresham, CIC VP, Region I and President Elect ................... Norfleet Anthony Vice President, Region II .................... Matt Swallows, CIC, CRM Vice President, Region III ........... Kym Clevenger, CPCU, CACW Treasurer/Secretary ............................. John McInturff III, ARM Director, Region I ......................................... Richard Whitley, CIC Director, Region I ........................................... Jamie Williams, CIC Director, Region I ...................................................... Eric Collison Director, Region II ..................................................... Taylor Porch Director, Region II .................................................... Reno Benson Director, Region II ...................................... Paul Steele, CIC, CRM Director, Region III ...................................... Brandon Clarke, CIC Director, Region III ........ Cindy Widener Winn, CPA, CIC, CBIA Director, Region III .......................................... Bill Oldham III, CIC Director, At-Large .............................. S. Keith Phelps, CIC, CRM Director,. Young Agents ...................................... Derek Wright

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Display advertising rates, deadlines and specifications may be obtained by writing to Insurors of Tennessee, 2500 21st Avenue South, Suite 200, Nashville, TN 37212, calling 615.515.2601, e-mailing dsmith@insurors.org or online at www.insurors.org The Tennessee Insuror is provided to all Insurors of Tennessee members and associate members as a member service.

INSURORS OF TENNESSEE 2500 21st Avenue South, Suite 200 Nashville, TN 37212-0539 www.insurors.org

Insurors 128th Annual Convention...

6

5 Ways Automation will Advance Insurance Agencies

10

Options Abound in the M&A Buyer Universe

12

Agents Are Here to Stay

14

Daniel Talks Insurance: PEOs part 2

Making Sure Any PEO You Partner With is Bringing Value to Your Clients

departments 21

From Your President

Finally Getting Back to Normal

23

From Your IIABA National Director

25

From Your CEO

29

Education Calendar

31

Government & Legal Update

37

Company Spotlight

39

Vendor Spotlight

46

Agents for the Community

Standing Together to Stand Out

A Changed Perspective for A Changed World

Advocacy Update: A Busy Session Concludes as We Emerge from Pandemic Grange Insurance ePayPolicy

White & Associates Insurance

51 Meetings 53

Member Tips

Growing Your Agency With Sales & Service 3

In-Person is Back!

Insurors In-Person Meetings Return, Including Our 128th Annual Convention featuring Special Guests Paul Overstreet and Manley Feinberg

We're excited to share that the Insurors of Tennessee 128th Annual Convention will take place in-person on October 1619 at the Marriott Shoals Resort in Florence, Alabama.

A Grammy Winning Singer/Songwriter Our Sunday night Opening Celebration for the event aill feature special guest entertainer Paul Overstreet. After graduating from high-school at the age of eighteen, Overstreet moved from the bayous of Mississippi to the music capital of the world, Nashville. Not owning a suitcase, he brought with him a laundry basket of Levis and football jerseys, ten original songs and a guitar. He packed them in a '68 Ford Fairlane with lots of dreams of how great it was all going to be when he finally got to the "Big City.”

It was a long, hard road, but the dream of writing songs and

making records was so big that the toughest roads weren't going to stop him. After sleeping in his car he got a job at a water heater factory. The future was not looking too bright, but somehow the dream stayed alive. Looking back now on the earlier years, Overstreet said, "It's amazing to realize that the reality is greater than the dreams that started the whole adventure." Overstreet believes that it was his talent and vision, given to him by God, that enabled him to reach his goals as a songwriter, artist, and producer.

As a songwriter, Overstreet has written and co-written 27 top ten songs, his first being George Jones's Same Ole Me. He has also won two Grammy awards for his work. Numerous other artists have recorded his songs including Randy Travis, Tanya Tucker, Keith Whitley, Alison Kraus, The Judds, Kenny Chesney, Blake Shelton, Brad Paisley, Carrie Underwood and many more. Some of his most influential hits include: • • • • • • •

Paul Overstreet will entertain attendees at our Opening Celebration

4

She Thinks My Tractor's Sexy When You Say Nothing at All Some Beach On the Other Hand Forever and Ever, Amen Love Can Build a Bridge Look at Me

As an artist, Overstreet has written and recorded many songs himself. You Can't Stop Love was the debut single for the trio S.K.O. (Schuyler, Knobloch and Overstreet) on M.T.M. Records and enjoyed a place at the top of the charts. That album produced two other top ten hits as well. Overstreet's first solo project began when RCA released "Sowin' Love". The five sinThe Tennessee Insuror

gles released from this album were all top ten hits, including the title cut, Sowin' Love, Paul's "signature" song All The Fun, and his first number one, Seein' My Father in Me. The second album, "Heroes", included the hits #1 Daddy's Come Around, If I Could Bottle This Up, Heroes and Billy Can't Read, which became the theme song for the CMA/CMT Project Literacy. The next album "Love is Strong", gave Paul his first #1 song on Christian radio with the title cut and gave him another chart topper with There But For The Grace of God Go I.

From Build-A-Bear to Building Others Former Build-A-Bear Workshop director and current strategy and business expert Manley Feinberg, CSP will keynote our Agents General Session on Monday, October 18 speaking on "Vertical Lessons".

Feinberg is recognized as an award winning international keynote speaker and business leader, author, published outdoor adventure photographer and professional musician. He served two terms as the President of the National Speakers Association, St. Louis chapter.

thentic, sincere and deep interpersonal connection Manley makes with your audience enables him to deliver practical and proven content to help organizations maximize their opportunities and develop their most valuable asset, their employees. Through custom developed programs and support ranging from 60 minutes to 12 months, he will leave you with many actionable techniques, frameworks, and insights. Most importantly, he can engage your organization in a way that drives real ROI that you can sustain well beyond the presentation, and ultimately affect long term change.

Manley’s inspirational keynotes are brought to life through his national geographic photography and riveting stories culminating from a lifetime of adventure through 25 countries, to over 400 outdoor destinations. Manley vividly shares compelling lessons from his adventure and leadership experiences in a way that allows you to relate to your mountains. He will have you hanging beside him surviving in the Himalayas, struggling to communicate in Uzbekistan, and immediately transfer the experience to moving you forward in your courageous efforts. Manley will challenge your mindset, arm you with ideas you can use, and inspire you to action.

On a personal note, he likes to sleep on the side of mountains.

More shocking is that his wife has been putting up with that for more than two decades, and his two teenage children still kiss him on the cheek in front of their friends.

Special Functions and Events Here is an overview of some of the additional functions and activities we have planned: • Manley Feinberg will speak to attendees on his "Vertical Lessons"

Leveraging more than twenty years of business, professional speaking and adventure experience, he helps professionals breakthrough mindsets to step up and reach their next summit. As a result of his work, people have more focus, courage, commitment and momentum. In fact, he wrote a book titled, Reaching Your Next Summit! 9 Vertical Lessons for Leading with Impact.

During Feinberg’s eleven years with Build-A-Bear Workshop, his leadership direction helped take the revolutionary retail concept from 40 stores to over 400 worldwide, realizing revenue growth from 55 million to over 474 million, and a successful IPO on the NYSE. He built an award winning reputation for implementing business solutions and support that produced measurable results every day. Manley’s leadership influence contributed to a workplace culture that landed Build-A-Bear on the FORTUNE 100 Best Companies to Work For® List four years in a row.

It is this expertise that he shares by applying lessons learned in business and adventures to life’s daily challenges. The auThe Tennessee Insuror

• • • •

•

Trade show returns: The largest trade show for Tennessee agents will be back with over 70 exhibitors.

Outdoor events: We will host an outdoor concert, all-attendee reception and more to give attendees a safer area to gather in large groups.

Networking: While we will of course comply with any regulations that might still be in place, we plan to add even more networking time to our event.

Sessions: We're bringing in an impressive lineup of speakers on sales, motivation and agency success.

Optional events: From golf at the highly rated Schoolmaster course to an event at the Frank Lloyd Wright-designed Rosenbaum House, we'll have some great options for you to check out the area.

Florence: Downtown Florence and the scenic area surrounding it will make for a great setting for our event on the river.

Register Online Now! Registration for the event is now open online! Please visit our Convention page at https://www.insurors.org/IOT/ Convention/2021ConventionHome.aspx for more information, the full schedule of events, or to complete your registration now. u 5

5 Ways Automation will Advance Insurance Agencies written by Shannon Flynn, ReHack

The insurance industry is going through a technological transformation. Pandemic-driven remote connections and platforms spurred this digital makeover, and agencies are turning to automation as a solution. This year will bring new adoptions of automation, such as more data-driven decision-making, and improvements of existing applications, like chatbots.

2. Data Entry

How you apply automation to the job is critical, especially as people turn to digital resources for help throughout the pandemic. The following areas show just how applicable automation can be for advancing the industry.

Automated systems will take information from a customer or business partner and automatically enter it into spreadsheets or proposals. This provides direct quotes, comparisons and faster turnaround times for filling out documents and agreements. It inputs all the information right away.

1. Onboarding Automation in onboarding for new employees and customers alike can create a more efficient process. The recruitment process can be tedious and drawn out if you receive a large number of resumes to sort through. However, an automated system can immediately check applicants for experience and skills, then sort them into potential candidates or rejections.

On the customer-facing front, you need to work through a similar process. Categorizing potential clients requires sorting through their history and status. An automated system can consider personal data and automatically sort them into plans or categories.

You can get a head start on automating your onboarding process with newer systems like Kofax and CVViZ for clients and employees, respectively.

6

Human error can lead to skewed data results. For instance, if an employee enters demographic information incorrectly, insurance companies can end up marketing plans to the wrong set of people. Automated data entry is the solution.

In turn, this dynamic improves organization. As everything updates in real-time, each file or document will have the same correct information. A client list for a specific insurance plan can be updated based on automation adding or removing customers. You can then send out updates to clients without having to input the data yourself.

3. Decision-Making Decision-making comes from data. You need the correct information to understand how to handle a specific case or, on a bigger scale, your insurance agency’s direction. For instance, data shows a bumpy road ahead for insurance companies due to pandemic-driven stress and lower earnings.

However, you can make changes ahead of time to prepare.

Data automation requires demographic information, income

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levels, consideration of outside factors and insurance trends.

As the system automatically combines these factors, it can then predict what areas will grow or what earnings will be for specific quarters of the year.

Based on this information, you can then make decisions in the company’s best interest in terms of partnerships, investments and services you provide. The decision could be something as straightforward as marketing more flood insurance plans during hurricane season.

4. Chatbots Chatbots use artificial intelligence (AI) and machine learning algorithms to continuously learn based on human feedback. When assisting customers, these chatbots automatically evolve with each success and failure. They then become better able to properly help people with tasks like switching insurance plans, answering questions and processing payments.

You can use chatbot builders and resources like HubSpot or IBM’s Watson for your insurance site. You’ll work with the program and enable it to handle various inquiries. Once people enter the site, they’ll have the option to speak with the chatbot, which can speed up the process of providing them with a solution. Since chatbots work round-the-clock, they’ll offer stellar customer satisfaction at any time for retailers.

5. Autofill Autofill is a subtle use of automation but a powerful one. If a customer is filling out personal information on your insurance website or app, they’ll want a smooth process. This means they should only enter data once, and the platform autofills it in the corresponding places.

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Computers and smartphones can store this personal information right away, specific to the site. Your platforms must work with this use of automation. That way, any application process is easy to navigate, and potential customers can more easily become clients.

Automating the Industry These five uses of automation show the way forward for the industry. Some are already in use, and others are just now getting their footing. Either way, 2021 will be a big year for adopting these methods and systems to create a stronger, more resilient insurance agency. The movement starts now.

About the Author Shannon Flynn is a technology writer with 4+ years of experience in IT and business technology. She is managing editor at ReHack.com and has written for marketing websites about topics relating to SEO, automation, software, and data. u 8

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CONTACT Stephen Holmes sholmes@insurors.org 615.922.6204 The Tennessee Insuror

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9

Options Abound in the M&A Buyer Universe

sponsored by our partners at written by Tom Doran, Reagan Consulting In the mid-1990s, there were only five acquirers of insurance agents and brokers with the capital and appetite to do mergers & acquisitions on a national scale. Now, only 25 years later, at least 40 buyers are competing for deals nationally.

Competition among these buyers is one of the primary drivers behind the current record-high valuations. While high valuations are great news for sellers, the increased buyer competition also creates another powerful seller benefit: agency owners have an unprecedented number of options for perpetuation partners.

In the not-too-distant past, a selling agency had few choices when selecting a perpetuation partner. And for the most part, they all looked pretty much the same. All were very large, had similarly rigid processes, and essentially offered indistinguishable benefits – capital, expanded market and program access, and a set operating structure.

Selling an insurance agency in 1995 felt a little like buying a car in the 1960s – choices were limited and customization almost non-existent. Back then the “options" conversation rarely extended beyond the manufacturer – GM, Ford, Chrysler or Volkswagen – the color, and the desired sound system – AM, AM/FM or, if you were a thrill-seeker, an 8-track tape system.

There simply weren't a lot of customizations available, and you largely just purchased whatever the dealer had on the lot.

Not surprisingly, today's agency owners have many objectives when considering potential perpetuation partners beyond just the highest possible valuation. And when considering perpetuation partners, it's helpful to think about seller objectives across the autonomy versus resources spectrum.

AUTONOMY

HIGH

EARLY STAGE PE

Autonomy is important to many sellers who value their independence and fear a buyer will demand changes that undermine their culture and the overall success of their business.

Resources, or the tools and capabilities a buyer provides to sellers to help them to remain relevant in the middle-market, are highly attractive. These resources often take the form of programs, technology, training, leadership, recruiting and practice group expertise.

Buyers who offer maximum autonomy post-close, such as early-stage private equity firms, tend to offer far less in terms of available resources. Buyers who offer limited autonomy post-close, such as more mature private equity and public brokers, tend to offer far more in terms of resources. Larger regional independent agents and brokers tend to occupy the middle ground.

Every buyer in the marketplace lives at a unique slot in this autonomy versus resources spectrum. This is great news, as it has never been easier for selling agents and brokers to find the right buyer to meet their objectives.

The downside is that the number of choices to navigate when considering a sale to a third-party buyer are overwhelming. No one has the time to research and vet every buyer in the marketplace. Agents and brokers considering a sale are wise to select an experienced M&A adviser who can help them better understand the current universe of buyers and how those buyers can best meet their needs and objectives, whether that's more resources, greater autonomy or somewhere in the middle.

About the Author

REGIONAL INDEPENDENTS

MATURE PE

PUBLIC BROKERS

LOW LOW

RESOURCES

HIGH

source: reagan consulting

10

Resources Autonomy Spectrum

Tom Doran has been with Reagan Consulting since its founding and is a partner of the firm. Tom’s areas of expertise include merger and acquisition representation, agency valuation, ownership perpetuation planning, agency valuation enhancement and strategic planning facilitation. Before joining Reagan Consulting, Tom was a consultant with Hales and Associates. Tom is a regular contributor to Reagan Consulting’s industry studies and is frequently published in various insurance industry publications. He also speaks on a regular basis to industry trade groups and associations on a wide variety of topics concerning the insurance distribution system. u The Tennessee Insuror

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Agents Are Here to Stay

This is a more personal piece than usual, and it’s inspired by some recent conversations that I’ve had with some investors.

This is always an interesting exercise for me because I get to see insurance from the outside, gaining valuable perspectives about how others view our industry. Sometimes I get feedback like “agents are not here for long” or “the direct channel will replace the industry of agents and brokers.” I always take the time to explain that that is not the case; in fact, not only are agents and brokers here to stay, but they can also be more successful than ever using the right technology.

The number of businesses in the insurance brokers and agencies industry in the U.S. has grown 0.5% per year on average over the five years between 2016 – 2021. This growth is a clear indicator that agents continue to hold value in our industry.

With the number of professionals in the field expanding rather than shrinking, it seems the rumors of their demise have been greatly over-exaggerated!

Agents have a unique advantage in that they sit at the center of the most important data sources: the carriers’ data, the

written by Liri Halperin Segal, Founder of LeO

clients’ data and policy data. However, many of them don’t have the AI capabilities to turn that data into insight and action. Once I show investors how to unlock data points and turn them into sales, they start to see that agents’ potential is greater than ever.

Agents are one of the industry’s most valuable assets and they can become better than ever with the right technology and tools. At the same time, here are some thoughts about where agencies and their agents can place attention to help ensure this success.

1. Build Strong Relationships with Your Clients Agents always want to present themselves as trustworthy, fact-based risk advisors. They can show their worth by providing meaningful client and industry insights and easy-to-use reports that add value to the clients and reinforce the importance of the relationship. Similarly, they should demonstrate a desire to engage by interacting with clients through whatever continued on page 48...

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13

Daniel Talks Insurance: PEOs part 2 Making Sure Any PEO You Partner With is Bringing Value to Your Clients

In this series, Insurors CMO/COO Daniel Smith will talk with industry experts about some of the behind-the-scenes information that agents may not always be aware is relevant. The following is a continuation of our article in the last issue about professional employer organizations (PEOs).

ployees; hiring, firing and managing. The employer of record, PEO, is just the administrative employer for the purposes of providing the products of the PEO; benefits, WC, payroll, technology, 401K, Compliance – types of products will vary from PEO to PEO.

As we discussed in our last issue, there are advantages to working with PEOs, and there are also concerns if you are not partnered with the right organization. So which PEOs can benefit your agency and your clients, which should you be concerned about and how do you know the difference? To get some answers, we talked with PEO experts at two of our Partners Program companies – Engage PEO and Human Capital Concepts (HCC).

What concerns should agents have about cyber and data security when working with PEOs, and how do you address those?

There are often concerns and confusion and PEOs and "employee leasing" agreements. Can you help clarify the differences for us?

Jeff Hallam, Vice President of Business Development for Human Capital Concepts (HCC): There can be confusion on this, as the terms have been used (mistakenly) interchangeably over the years. But there are very clear differences between the two.

PEOs don’t supply employees to worksites. Instead, PEOs provide services to a business client and their existing worksite employees through a co-employment arrangement. These services typically include all of the employee administration duties like payroll, benefit plan administration, retirement plans, and human resource compliance. If a client terminates their relationship with a PEO, the worksite employees continue as employees of the client.

In contrast, a leasing service supplies workers to a business client. Often these workers are supplied for a temporary or specific period of time. When their time at a business client’s workplace is finished, leased employees return to the leasing service for assignment to another business client. If a client terminates their relationship with a leasing service, the leased workers have no ongoing employment relationship with that client.

Cindy Edwards, Vice President of Sales for Engage PEO: PEOs do not lease out employees or provide staff to their clients. When a client partners with a PEO, their workers enter into a co-employment arrangement in which they have two employers – the client company and the PEO (the employer of record). The client company maintains control over the em14

Edwards: The agent should question the amount of encryption the PEO provides in addition to the encryption provided by the IT vendor (systems used for payroll, HRIS, benefits administration, etc.). Engage hosts its technology platform in its own high-availability cloud environment. And internal processes and system capabilities are routinely tested internally by external security audit firms. Also several certifications that demonstrate the high standards the company demands – these would include certifications like SSAE-18, CPEO and ESAC. Hallam: This is a reasonable concern for any provider dealing with sensitive data, including employee information. Different PEOs use different software platforms to help administer employee HR information. Speaking for HCC, we use the largest industry-specific platform in our space. One of the reasons we selected them and continue to work with them relates specifically to this very issue.

They utilize globally-recognized data security measures like data encryption, hosting facilities with on-site physical security and advanced firewalls, and two-factor authentication for system users.

Is there a "sweet spot" for businesses that should be discussing PEO opportunities?

Hallam: While there are different sweet spots for different PEOs, we typically find our sweet spots to be: start-up companies; established businesses with 5-75 employees; and nonprofit organizations looking to compete for talent with forprofit companies.

Edwards: It will depend on the PEO, if the PEO mandates the work comp be moved to the PEO then the sweet spot will depend on the PEOs work comp appetite for risk. If the PEO does not mandate the work comp be moved that opens the doors for any company with employees ranging from 20-1,000 employees. Any group smaller than 20 generally doesn’t have a need for a PEO unless it’s a start-up company looking to expand.

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And finally, what do you think is the competitive advantage for your company in regards to partnering with agents?

Edwards: Engage was created to help brokers compete with PEOs that sell direct. We do not have a direct salesforce, we are 100% dedicated to brokers. We're a highly credentialed national PEO offering a flexible product configuration that allows brokers to keep current lines of insurance in place plus earn residual compensation on Engage services: Technology integrating Payroll, HRIS, HR & Tax Compliance, affordable Fortune 500 Benefits & Administration, Risk Management, 401k and employee self-service. All services are delivered via a certified dedicated team of professionals, HR services and trainings are delivered via our employment attorneys, exclusive to Engage and the most important member of the team is the Broker. Engage offers professional sales support & customized collateral.

Engage will not accept BOR and offers Client Referral Protection. Engage is on top of impactful HR issues currently helping clients with PPP loans, implementing the CARES ACT and customizing return from COVID-19 programs.

Hallam: We have three primary competitive advantages for agents who partner with us.

•

The first is that we allow partner agents to keep existing health and/or work comp policies (and the associated commissions) in force for their clients they refer to us. There are no AOR changes or reliance on us for commissions.

•

•

The second is our delivery model. Unlike larger national PEOs, we provide each of our clients with named specialists for payroll, HR and benefits. There are no customer numbers, and they have the direct contact info for the people they deal with for these items. This helps develop relationships between our clients and team, while also providing better accountability with our team members to do what’s necessary to keep clients happy.

The third is how we incorporate agents into the process.

Most PEOs do not allow agents to be part of the sales or client delivery process. Instead, they tend to exclude them.

We realize how hard agents work to build their client base and believe these relationships should never be disrupted.

HCC works with agents to include them in as much of the process as they choose. This maintains those client relationships and improves the experience for everyone.

Summarizing the PEO Potential for Your Agency Whether you are utilizing PEOs for your clients or not, others out there are. The National Association of Professional Employer Organizations has stated that PEOs operating in the U.S. represent a $150+ billion industry. The most basic principal in a PEO partnership is to understand all the agreements involved. Be aware of charges, fees, structure and setup – and be able to convey this info to you clients. From the agency side of the issue, be sure that the PEO is not or will not be competing with you for business. Do those things, and a PEO may be the right partner for you and your clients. u

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Future Leaders Spotlight

presented by

Chad Wolford • Rise Insurance - Chattanooga Chad Wolford was born and raised in Chattanooga, only leaving the city for five years to attend Montana State University. While he was in college at Bozeman, he was on the rodeo team. After college, he convinced his now wife to move back with him to Tennessee. They have two beautiful daughters together, aged seven and nine. He coaches both of their soccer teams and also enjoys golfing and watersports with the family. He is also excited about getting his girls out to hunt and fish now that they are older.

The Insuror: Do you have any influences/role models in the industry?

The Insuror: Can you tell us a little about your current job title and responsibilities?

Chad: Be creative in leveraging your resources and your network. Try to be of value to everyone you interact with and not just when it comes to insurance. It may seem like someone has absolutely no value to you or the exact opposite; you may think there is no way possible that you could ever provide value to that person. At the end of the day, if you never make the effort to provide them value up front, you’ll walk right by great opportunities every day and never even know it.

Another thing that will change your life is becoming a great planner. I know it doesn’t sound fun or exciting but if you start every day or week off doing just a little bit of planning, productivity skyrockets. Set big picture goals like one, three & five year goals then back those all the way down into the daily goals it will take for you to get there. Then stick with the plan.

Chad Wolford of Rise Ins.

Chad: I am the Founder and Principal of my agency, RISE Insurance so obviously the buck stops with me. I oversee all aspects of the agency and make sure everyone in the agency has the resources they need to be successful. One of my favorite things about this job is that while we are helping protect our clients in their time of need, I am also personally getting to help my staff grow in their own professional career. Its tremendously rewarding to watch someone take the craft you have helped them learn and successfully use it to help others.

The Insuror: What can you tell us about your educational background?

Chad: I attended Baylor School here in Chattanooga growing up and then went on to earn a degree in both Business Marketing as well as Small Business and Entrepreneurship.

The Insuror: How and why did you get your career in the insurance industry started?

Chad: I have a very diverse background in business having been a part of a starting and operating a number of different businesses. A few years ago, I decided I wanted to get into a business that involved recurring revenue and helping others in some way while also complementing my background and experience. I decided insurance was a great option but I knew I didn't want to be captive. I partnered briefly with another existing independent agent hoping to jumpstart the learning curve. That wasn't an ideal situation so my wife and I left to create RISE Insurance and haven’t looked back since.

18

Chad: Yes, I do. I have a couple of large agency owners in Florida, one in Texas, and one in Arizona that I have met over the last few years who have really taken me under their wing and given me a ton of value. I do have local friends I talk to occasionally but I find that I get much more cooperation and insider info when I leverage technology and my network to connect with people not competing directly in my market.

For example, one of the agency owners in Florida is someone I was introduced to through an Insurors mentorship program.

The Insuror: Is there any advice you could offer Young Agents or others in the industry to achieve success in their careers?

The Insuror: As an independent agent, you have many partners in this industry, including carriers, MGAs and many more. How do you determine which ones are the right relationships?

Chad: There is not a great answer for this when you are just getting started. Early on, this was the single greatest struggle I faced in opening my own agency. I personally picked a few niches that I wanted to start with and then started trying to find ways to write business in those industries. Once I determined who was consistently winning business over me, I started contacting those carriers and tried to develop a relationship. Sometimes it works, sometimes it doesn’t but back to what I mentioned earlier, you will never know if you don’t try. Once I had a little more traction, I was able to then start focusing on more of the details about exactly who the best partners for various scenarios were. Now I’m able to get a lot more thoughtful about who we are writing for and we The Tennessee Insuror

Are you making the Right Choice for their Business?

place tremendous value on relationship items like claims handling and customer service. We also place a high value on the quality of a partner's digital platform. We are a technology savvy agency and try to encourage our clients to use the tech resources we have put in place for their convenience so we want to make sure that our partners have a similar mentality.

The Insuror: Thank you for giving us your time, Chad, we appreciate it and wish you continued success.

Chad: My pleasure. Thanks for all you do for agents! u

BSIG Makes It Easy With Choice Classes For Middle Market Risks

Young Agents '21

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Upcoming Events and Information 2021 Insurors Young Agents Leadership Conference July 29-30 • Dollywood DreamMore Resort Pigeon Forge Visit insurors.org for more details

2021 Young Agents Committee

Below is just a broad listing. If you don’t see what you’re looking for, please contact us.

• General Contractors • Building Trade Contractors • Utility Contractors • Land Improvement Contractors • Pavement Maintenance-Non DOT

* All classes may not be available in all states.

Derek Wright - Chair Agent/Principal Graham & Cook Insurance Knoxville derek@grahamandcook.com Cy Young - Immediate Past Chair President Young-Hughes Insurance/Haven Ins. Partners Alamo/Jackson cy@younghughesinsurance.com

Our Claim Commitment • 24/7/365 loss reporting-including online • • Accelerated auto and property estimating and repair options • • “Fast Track” medical only claims handling program • • Tele-emergent medicine program-connects injured workers to medical care, not “triage” •

Want to know more?

Forbes Harris - Region I Producer Harris, Madden & Powell Insurance Memphis fharris@hmpins.com Matt Felgendreher - Region II Executive Vice President W.C. Dillon Company & Insight Risk Management Nashville mfelgendreher@irmllc.com John Brock - Region III Agent/Partner Brock Insurance Agency Chattanooga john@brockins.com For more info on the Young Agents program please contact Abby Wheeler at awheeler@insurors.org. u The Tennessee Insuror

• Services Contractors • Building Cleaning & Maintenance Contractors • Construction Material Suppliers • Manufacturing • Wholesale and Distributing

Bill Vanderslice, Regional Vice-President 615-932-5508 | bvanderslice@berkleysig.com or your Middle Market Underwriter

Your Back-in-Business Insurance Company®

berkleysig.com

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Berkley Southeast Insurance Group is a member company of W. R. Berkley Corporation, whose insurance company subsidiaries are rated A+ (Superior) by A.M.Best.

Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued.

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20

The Tennessee Insuror

From Your President Finally Getting Back to Normal I cannot believe there are only six months left in 2021. Time is moving at meteoric speeds.

Words will not adequately express what an honor it has been to serve as your president the last two years. Thank you from the bottom of my heart.

and have two room nights included for only $299! Those registrations are limited however, so don't delay in making your plans to register and attend.

Back to Some Normalcy

We have officially opened registration for this year’s convention, and it promises to be better than ever. The schedule is packed with things you will not want to miss, and Laura Travis and my wife Melinda are planning a special event for spouses and significant others including tours of the renowned Fame Studio and the Wilson Dam. The schedule and more detail about the functions are included below:

Exciting things are happening at your Association. We actually had our first in-person Board meeting in over 15 months and I must say it was one of the most interactive meetings I have been a part of. A lot of great ideas came out of the meeting and you will be hearing more about these in the days ahead. Look for new opportunities in education, technology and opportunities for us to gather as agents in various cities across the state as we take the Association to you – our members.

We also held our first in-person education courses in over a year and even offered a hybrid option. Our in-person Young Agents receptions were also a success, and we will continue to offer ways to get back out in our local markets and engage with the Association.

Young Agents Leadership Conference I am particularly excited about the Board's decision to host a joint meeting between the Board and the young agents. Our young agents are the foundation upon which this Association has been built and bringing this back will give the Board the opportunity to fellowship with and get to know our young agents better. If you have young agents in your office, please encourage them to attend this event. Our new Young Agents Leadership Conference will be held in Pigeon Forge at the Dollywood DreamMore resort July 28-29.

This event will feature networking opportunities with industry leaders; workshops on sales, data, marketing and agency culture; leisure activity time and our first ever "Podcast Row" featuring some of the industry's leading voices.

Better yet, thanks to our Partners and sponsors, Young Agents can attend with their families The Tennessee Insuror

Insurors 128th Annual Convention

Saturday, October 16 (all times CT) 6:00 - 7:00 pm Nationwide Agents Reception 7:00 - 9:00 pm Football Viewing Party Sunday, October 17 9:30 - 10:30 am Past Pres. & Board Breakfast 11:00 am - 12:30 Partners Program Luncheon 11:30 am - 12:30 Board Spouse Luncheon 1:00 - 6:00 pm Registration Open 2:00 - 3:00 pm Breakout Sessions 3:00 - 6:00 pm Exhibit Hall and Trade Show 4:00 - 6:00 pm “Meet the Vendors” Reception 6:30 - 9:00 pm Opening Night Celebration 9:00 - 11:00 pm Young Agents After Party

“Our young agents are the foundation u p o n which this A ssociation has been b u i l t ...”

Monday, October 18 8:00 - 10:00 am Registration Open 8:00 - 10:00 am Exhibit Hall and Trade Show 8:00 - 10:00 am Exhibit Hall Breakfast 10:00 - 11:30 am Agent General Session Noon - 5:30 pm Annual Conv. Golf Tourney 12:00 - 3:00 pm Specialty Insurance Seminar 12:30 - 4:00 pm Clay Shooting Outing 1:00 - 2:30 pm Spouses Special Event 6:00 - 8:00 pm Company Night 6:00 - 7:00 pm InsurPACTN Donors/Past Presidents Reception 8:00 - 10:00 pm All-attendee Reception Tuesday, October 19 8:00 - 11:00 am Association Day Meeting Register now or get more details at insurors.org – I hope to see you there! u

Bob McIntire 21

Homeowners Insurance

Recognizing that the typical insurance needs of homeowners have changed over the years, our Homeowners products have been designed for all kinds of circumstances. We cover: Single-family homes & multi-family dwellings Condominium units Renters and lessors/landlords Home-sharing services Browse all of our products at www.guard.com Our Homeowners Insurance is not available in all states.

Please refer to www.guard.com/states for state availability.

APPLY TO BE AN AGENT: WWW.GUARD.COM/APPLY AmGUARD • EastGUARD • NorGUARD • WestGUARD

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Markel Specialty | markelinsurance.com markelcorp.com Markel Specialty is a business division of Markel Service Incorporated and has over 70 years of experience in niche markets, with a product focus on commercial and personal lines insurance. Policies are written by one or more Markel insurance companies. Terms and conditions for rate and coverage may vary.

22

The Tennessee Insuror

From Your IIABA National Director Standing Together to Stand Out One of my favorite quotes is from Theodor Geisel – better known as Dr. Seuss – and says, “Why fit in when you were born to stand out?” With all the changes going on in the world today, what better time than now to stand out?

hesitate to talk about your accomplishments, brag about you and allow failure. Inclusive leadership contains commitment, courage, awareness, courage, embracing of cultural intelligence and collaboration.

Our industry is also changing rapidly. Women are no longer just the "typist" or secretary. We are now COOs, CFOs, presidents and highly trained insurance professionals. Women of all backgrounds are leading our independent companies, our agencies, our brokers, our Association and all aspects of our business.

Whitnee’s talking points are goals for all of us to follow, not just women. We need to seize the opportunities in our industry and don’t just fit in when you were born to stand out.

Our industry now offers more opportunities than ever for anyone wanting to make insurance their career. The possibilities are endless.

More than ever women are the primary financial provider in many homes and are financially contributing to the household to provide for their families. Besides working 40 hours a week, taking care of children and possibly parents, making sure that everyone is where they need to be, keeping the home running smoothly and trying to be superwomen, let’s add COVID-19 to the mix! Stress has never been higher.

Women in Insurance In 2018, Insurors of Tennessee created the Women In Insurance program (WINS) to help women share ideas, creativity and develop opportunities. We can network, socialize and create resources along with our peers. WINS wants to help you stand out and be the best that you can be. This past year in-person events have not been possible, but we have been lucky enough to hold several virtual events to help women handle all the challenges that go along with working in Insurance.

Our April 27 WINS event featured Whitnee Dillard, Director of Diversity and Inclusion with the Big “I” as she broke down the topic of "Navigating Imposter Syndrome and Increasing your Network and Inclusive Leadership." Whitnee stressed that we need to make a conscience effort to engage and develop diversity. We need to mentor our rising young professionals. Don’t The Tennessee Insuror

We are now beginning to plan in-person events across the state, and I am excited to see those opportunities back on the schedule. Look for more information to be sent out on dates, times and locations very soon. I also want to thank our sponsors of these events, Bailey Special Risks and R-T Specialty for their support in these efforts.

Other Ways to Get Involved In addition to our WINS program, we want to be intentional about other ways women can be involved in our Association. If you're under 40 or have less than 5 years of experience in the industry, our Young Agents program is a great way to meet your peers and learn more about the insurance landscape. If you'd like to be involved in leadership in our industry, please feel free to reach out to me about opportunities to serve on our Committees and/or our Board of Directors.

“Our industry n ow of f e r s m o r e opportunities than ever f o r anyo n e w a n t i n g to make insurance their career."

In addition, we are continuing to work on new ways to incorporate additional CE offerings, event speakers, topics and/or other resources to help promote your growth. We want to add value here to our Convention, Conferences and all the meetings we put together for our members. If you have ideas, I'd love to talk through them with you. Please feel free to reach out to me at cindig@boyle.com or call 901.766.4298 so we can discuss it.

I will close by saying that – I get it – I've been where you are no matter what career stage you're in. I, and the Association, want to be part of your continued success in the insurance industry. Let us know how we can be. u

Cindi Gresham 23

Endorsed Partner of

24

The Tennessee Insuror

From Your CEO A Changed Perspective for A Changed World Over the last seven months I have been proud to be a part of the independent insurance agency system in Tennessee. I have talked with many members of Insurors, a 128-year Association, and see a new perspective on how insurance is sold and serviced. I am so impressed by these independent agencies and their commitment to their clients, communities and their industry.

They represent the strongest and best companies in the country. I found when talking with agents that they strive for improved ways to serve their clients with great service and the best rates. These men and women are very well trained in all aspects of our ever-changing industry. It is on the forefront of my thinking, “What can our team do – and do better – to continue our service to the Association?”

Get The Message Out Again First, I think we need to get the message out of how important the work is our agents do to protect their clients' insurance and financial needs. I remember very well John Ward’s commercials tagged with, “The Insurooorrrrs of Tennessee.” Now is the time to get the word out to the public again and promote the importance of our agents and their education and understanding of this complex industry.

During my first six months I gained a much broader perspective of the independent side of the business versus being in a captive agency.

Independent agents build their relationships with the many companies they represent and offer to better serve their clients. I have mostly known the captive side of insurance where “one size fits all” and now truly see its limitations.

One size does not fit all. In Insurors, our members have selective reach with their many companies and can offer the best product, coverage and protection to insure their clients. My goal is to get our message out again and show the importance of Insurors of Tennessee. This is your Association and your industry, and we are here to serve you and help you in your agencies and your commitment to your insureds.

Last month I attended the Big I Board of Directors meeting and their mission statement The Tennessee Insuror

touched me, “Provide members with a sustainable competitive advantage.” Let’s again create more overall awareness and value of independent agencies, especially ones that wear our logo. You have my commitment that we will dedicate money and resources in 2022 to market you – our members – proudly sharing the importance of doing business with our agents.

Preparing for the New World Ahead In closing, please let me go back to 1983 when I started my agency. I rated my products out of a rate manual. I typed my policies on a 1959 Army Surplus typewriter and I mailed applications to the home office. I was comfortable doing business this way, but then came change. I received a computer a couple of years later and I so wanted to send it back but was told, “it was the future.” I learned quickly that they were correct.

Fast forward to today, and 2020 brought us a new way of doing business, the way of the future, and maybe the largest change yet. But like you and your agencies we are ready, we are committed, and we have the passion to succeed. Insurors recently had its first in-person Board of Directors meeting and I was very inspired by your team of volunteer leaders. They are stellar professionals and their commitment to your Association is focused on its direction.

They are very driven regarding new education opportunities, marketing strategies, and new ways to adapt in our ever-changing world.

“First, I think we need to get the message out of how important the work our agents do to protect their clients' insurance and financial n e e d s . ”

When I left the meeting, my life was changed for the better and I felt energized and ready to work toward our goals. Perhaps more than ever, we have the ability to shape the future. With the volatility that 2020 brought, now is the time to imagine a stronger business, economy and society.

October 16-19, are the dates for our 128th Annual Convention in Florence, Alabama. It could be the most important one ever, allowing us to meet our members and hear their ideas to shape our direction. I hope to see everyone there and talk and listen about our future endeavors. Because as Gandhi famously said, “The future depends on what you do today." u

Ron Travis 25

Insuring the life you live and the home you live in for over 60 years.

National Security has provided competitive, affordable insurance to policyholders for over 60 years. We also provide our agents with competitive commissions, excellent customer service and experienced company adjusters.

As a Southeastern based regional company, National Security prides itself on fast, efficient service from a friendly small town company. Our agent website provides fast quotes, online policy issuance, and real-time policy information. Find out more about our products by calling 1-800-239-2358 or visiting nationalsecuritygroup.com.

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The Tennessee Insuror

EDUCATION SCHEDULE

20 21

SEP

9/15-17 CIC Commercial Casualty • NASHVILLE 9/28 CISR Commercial Property • JOHNSON CITY

FEB

2/2 CISR Agency Operations • NASHVILLE

9/29 CISR Commercial Property • KNOXVILLE

2/3 CISR Agency Operations • MEMPHIS 2/17-19 CIC Commercial Property • NASHVILLE

9/30 CISR Commercial Property • CHATTANOOGA

MARCH

11/3-5 CIC Personal Lines • NASHVILLE

3/10-12 CIC Commercial Multiline • MEMPHIS

APRIL

NOV DEC

12/7 CISR Commercial Casualty II • NASHVILLE

4/6 CISR Personal Residential • JOHNSON CITY

12/8 CISR Commercial Casualty II • MEMPHIS

4/7 CISR Personal Residential • KNOXVILLE 4/8 CISR Personal Residential • CHATTANOOGA

ONLINE EDUCATION

4/21-22 Ruble Graduate Seminar • NASHVILLE

MAY 5/11 CISR Elements of Risk Management • NASHVILLE 5/12 CISR Elements of Risk Management • MEMPHIS

AUGUST

Use code FALL2020 to get 20% off all ABEN online CE courses.

Education Calendar The Insurors of Tennessee offers education opportunities to member agents across a wide range of insurance specialties that satisfy individuals at many different experience levels.

If you are looking to further your career, seeking a professional designation, or need to satisfy continuing education requirements, check out the variety of courses available.

Registration is fast and easy at www.insurors.org. More information about each class can also be found online.

Use code INSTN to get 20% off on Pre-Licensing and CE courses through Kaplan Financial.

8/4-6 CIC Agency Management • KNOXVILLE

Online training for new hires. Use code Upskill20 to get 20% any bundle.

CISR 9/28 9/29 9/30 12/7 12/7

Fee: $186

Commercial Property Commercial Property Commercial Property Commercial Casualty II Commercial Casualty II

CIC

Fee: $430

6/23-24 Ruble Graduate Seminar 8/4-6 Agency Management Institute 9/15-17 Commercial Casualty Insitute 11/3-5 Personal Lines Institute

CE: 7

Johnson City Knoxville Chattanooga Nashville Memphis

CE: 16

Nashville Knoxville Nashville Nashville

The National Alliance for Insurance Education & Research is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Website: www.nasba.org. Advanced Curriculum Rating = 20 CPE Credits. For more information regarding administrative policies such as complaint and refund, please contact our offices at 800-633-2165.

ABEN Webcasts (insurors.aben.tv) 6/8 6/8 6/8 6/9 6/9 6/9 6/9 6/10 6/10 6/10 6/10 6/10 6/10

Cyber Security and Insurance Risk CE: 2 $48 Double Trouble - COI and Biz Auto CE: 2 $48 Are You More Ethical Than Politician? CE: 1 $24 E&O: Roadmap to PAP and PUP CE: 3 $72 E&O: Roadmap to HO Endorse. Pt. 1 CE: 3 $72 E&O: Roadmap to HO Endorse. Pt. 2 CE: 3 $72 Flood Program Overview: NFIP CE: 3 $72 Premium Auditing: Agents Must Know CE: 2 $52 The Basics of COPE CE: 3 $79 The Law of Insurance Contracts CE: 3 $79 Torts, Negligence & Liability CE: 3 $79 NFIP Then and Now CE: 3 $72 E&O: Comm. Prop. Coverage Gaps CE: 3 $72

6/11 6/11 6/18 6/18 6/18 6/18 6/18 6/21 6/21

E&O: Roadmap to Policy Analysis I CE: 3 $72 Commercial Prop. Endorsements CE: 2 $48 E&O: Meet the Challenge of Change CE: 2 $48 Business Auto Claims Problems CE: 2 $48 Ethical Issues: Personal & Org. CE: 3 $72 Business Income and Extra Expense CE: 2 $48 Are You More Ethical Than Politician? CE: 1 $24 Insuring Condominiums CE: 2 $48 Personal Lines Myths: Part 1 CE: 1 $24

Addl' Courses (www.iiaba.net/vu) Available from IIABA Virtual University. Member pricing shown.

Ethics for Insurance Professionals How to Calc. Business Income in 5 Min. National Flood Insurance Program New Employee Training Course

CE: 3 CE: 3 CE: 6 CE: 9

$75 $50 $80 $100

*check VU site for current information on CE and pricing

Available from The National Alliance

(www.scic.com)

Legal & Ethical Requirements of Insurance CE: 4 Insuring Flood Exposures - NFIP Review CE: 4 Available from The Institutes

$75 $75

(insurors.ceu.com)

Insurance Principles and Policies CE: 7 Long Term Care CE: 24 Workers’ Compensation CE: 10 Employee Benefits for Small Companies CE: 4 Healthcare Reform and Affordable Care CE: 5 eCoverage CE: 15 Fundamentals of Personal Auto Insurance CE: 3 Management Process for Ins. Professionals CE: 21 Intro to Flexible Spending Accounts CE: 4 Terrorism and Its Impact on Insurance CE: 4 Toxic Mold and Homeowners Insurance CE: 15 Understanding the Industry of Insurance CE: 5

$49 $99 $59 $39 $49 $79 $29 $89 $39 $39 $79 $39

Register Online at www.insurors.org

Indicates course is presented by The National Alliance. Register for these courses at www.thenationalalliance.com The Tennessee Insuror

27

Partners

000

FOR TENNESSEE

Endorsed

PARTNERS

000

Leading

PARTNERS

Thank You!

Supporting PARTNERS

FOR YOUR SUPPORT OF INDEPENDENT AGENTS IN TENNESSEE

Sustaining PARTNERS

Contributing PARTNERS

28

ACCIDENT FUND INS. CO.OF AMERICA • AGENTS FOR HOPE • AMSHIELD INSURANCE • AMTRUST • CINCINNATI INS. • COLUMBIA INS. • COTERIE INS. • COWBELL CYBER • EMC INS. • EVOLVE MGA • A BERKLEY COMPANY • METHOD INSURANCE • OPENLY • PREVISOR INS. •The SAFEWAY

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continued on page 44 The Tennessee Insuror

Government & Legal Update

Advocacy Update: A Busy Session Concludes as We Emerge from the Pandemic The 2021 session of the 112th General Assembly adjourned Wednesday, May 5, with the Legislature passing the 2021-22 appropriations bill the week prior. The $42.6 billion state budget reflects an improvement in economic outlook for Tennessee as it emerges from the COVID-19 pandemic. Some budget items of note include: • • • • • • •

$931 million for capital maintenance and improvements $145 million for air/rail transportation infrastructure $100 million in broadband funding $100 million for local infrastructure $37.9 million to fully fund TennCare growth $5 million for health care safety net $250 million for a Mental Health Trust Fund

The budget adds no new debt and extends the "Rainy-Day Fund" to $1.55 billion. The budget also includes significant investment in public-private partnerships through the use of one-time grant money. Click here to see the official press release from Governor Lee. The legislature will reconvene on at 12:00 noon (CST) on January 11, 2022. Below is an overview of insurance-related legislation of interest.

Insurance Policies – Assignment of Benefits (SB1376) The bill clarifies that the rights, duties, or benefits provided by a policy of insurance issued under the present law insurance provisions may be assigned only as expressly provided by the terms of the policy of insurance or as otherwise expressly allowed by the insurer, except for assignment of benefits to health care providers pursuant to present law. The bill was promoted by the Farm Bureau in an effort to curtail “assignment of benefit” litigation experienced in other states Liability of GC, Intermediate Contractor, or Sub (SB0629): The legislation adds that a general contractor, intermediate contractor, or subcontractor is not liable for workers' compensation to a construction services provider for injuries occurring during the time period of December 9, 2019, through September 9, 2021, if certain conditions are met. The became effective upon being signed by the Governor on April 7, 2021.

Work Comp - CSP Administration (SB1268) Transfers administration of construction service provider registration from the secretary of state to the bureau of workers compensation. The bill was signed by the Governor on April 7, 2021 and is effective January 1, 2022.

Work Comp - Attorney Fees (SB1576) This was a Tennessee Chamber of Commerce-backed bill The Tennessee Insuror

that authorizes the court of workers compensation claims to award additional attorneys' fees and costs incurred when an employer wrongfully denies a claim or wrongfully fails to timely initiate benefits to which the employee or dependent is entitled for injuries that occur between July 1, 2021, and June 30, 2023. The bill was signed by the Governor on April 13, 2021 and is effective July 1, 2021.

Work Comp - Misclassification of Employees (SB1577) The bill makes non-substantive changes to how the bureau of workers compensation seeks to ensure applicable employers comply with workers compensation law, including, but not limited to, enforcement and penalties for non-compliance.

Clarifies which funds penalty fee revenue is to be allocated.

This legislation will be repealed on July 1, 2024 and current statute, which this legislation replaces, will be revived at such time. The bill was promoted by the Tennessee Chamber of Commerce and NFIB, with input from IOT. It was signed by the Governor on April 20, 2021 is effective July 1, 2021.

Work Comp - Disputes Concerning Employer's Failure to Provide Medical Care and Treatment (SB0764) An administration bill on behalf of the Bureau of Workers Compensation, the bill requires disputes concerning an employer's failure to provide medical care and treatment, medical services or medical benefits, or both, to meet certain requirements. Deletes requirement that all compensation be paid prior to an employee qualifying for vocational recovery assistance. Extends current provisions, as amended, for four years. Authorizes workers compensation judges to conduct judicial settlement conferences. The bill became law upon being signed by the Governor on April 30, 2021.

Counties to Self-insure their Risk of Loss in Lieu of Obtaining Bonds or Insurance to Cover Liability (SB1261) Present law requires county governments to either (1) obtain and maintain blanket surety bond coverage for all county employees not covered by individual bonds or (2) obtain and pay the premiums or other costs with respect to a policy of insurance that provides government crime coverage, employee dishonesty insurance coverage, or equivalent coverage that insures the lawful performance by officials and their employees of their fiduciary duties and responsibilities. This bill adds that a county that has elected to self-insure its liability under the Tennessee Governmental Tort Liability Act may elect, by resolution of its governing body, to self-insure its risk of loss instead of obtaining the above-described bonds or insurance, under the same terms as bonds or insurance under present law. A county making an election under this bill must do so by two-thirds vote on the resolution and shall file a copy in the office of the register of deeds. The bill became effective 31

upon being signed by the Governor on April 22, 2021.

Pharmacy Benefits Managers (SB1617) A bill brought by a coalition of healthcare providers, including the Tennessee Pharmacist Association and the Tennessee Oncology Practice Society, which would make various provisions of state law applicable to the pharmacy benefits offered by self-funded ERISA plans. The bill passed on May 4, 2021.

Sections 1-4 of the bill are effective July 1, 2021. Section 5 is effective January 1, 2022.

Auto Club Applications (SB0724) An administration bill by TDCI and previously introduced in 2020, the legislation revises the annual application for a certificate of authority by an automobile club or association to a one-time application prior to commencement of operations.

Provides licenses issued must be renewed annually and include updated documents and information. The bill became effective upon being signed by the Governor on March 29, 2021.

Advisory Council on Work Comp (SB0030) The “sunset” bill extends the advisory council on workers compensation to June 30, 2025. Signed by the Governor on March 29, 2021.

Asbestos Over-naming (SB0873) Brought by the American Tort Reform Association (ATRA), the bill specifies information that must be provided (within 30 days of filing a complaint) by a plaintiff in a sworn information form and included with any complaint filed in an asbestos action; requires dismissal without prejudice of plaintiff's asbestos claim as to any defendant whose product or premises is not identified in the required information form; requires that plaintiff's asbestos claim be dismissed without prejudice if plaintiff fails to provide the required information.

It was signed by the Governor on April 30, 2021 and is effective July 1, 2021.

Discharging of Lien on Motor Vehicle - Notification Required (SB0112) As enacted, the bill clarifies that a lienor is required to send notice of a discharged lien to the department of revenue on the date the lien is discharged and that the department must be notified of the discharge within 72 hours of the date of discharge. The bill was signed by the Governor on April 28, 2021 and is effective July 1, 2021.

Cybersecurity – NAIC Model Act (SB0725) An administration bill by TDCI, the bill is the National Association of Insurance Commissioners (NAIC) “Insurance Data Security Law.” The stated purpose of this amendment is to establish the exclusive standards for data security, licensees' investigations of cybersecurity events, and licensees' notification of cybersecurity events to the commissioner and affected consumers. A "licensee" for purposes of this amendment and summary is a person: licensed, authorized to operate, or registered pursuant to laws governing insurance in this state; or 32

required to be licensed, authorized to operate, or registered pursuant to such; and does not include a purchasing group or risk retention group chartered and licensed in another state or a person acting as an assuming insurer and domiciled in another state or jurisdiction. Signed by the Governor on May 6, 2021 and is effective July 1, 2021.

Captive/Reinsurance – Insurance Modernization Act (SB0726) Removes requirement that an assuming insurer appoint the commissioner of commerce and insurance as its agent for service of process in this state. Allows credit in instances where the reinsurance is ceded to an assuming insurer who satisfies certain conditions. Requires the commissioner create and publish a list of reciprocal jurisdictions. The bill requires the commissioner to include other jurisdictions as published through the National Association of Insurance Commissioners committee process on the list of reciprocal jurisdictions.

The bill passed on May 5, 2021 and is effective July 1, 2021.

UAPA - Payment of Expenses Incurred During Proceedings Related to Contested Cases (SB0747) The bill establishes that a hearing officer or administrative law judge is authorized to order the agency to pay the party issued a notice the reasonable expenses incurred because of the notice, if the claims are not warranted by existing law or argument for modification of existing law and the claims in the notice do not have evidentiary support, or the agency issued the notice to harass or cause needless delay or expense to the party. Clarifies that the conditions in which an agency would be required to pay the party issued a notice are not satisfied simply by a state agency failing to prevail against the receiver. Prohibits a court from requiring a license or certificate holder to pay costs incurred by the DOH for judicial review or a chancery court decision unless the claims in the petition for judicial review are not warranted by law and not have evidentiary support or the judicial review was petitioned to harass or cause unnecessary delay to the agency. The bill became effective upon being signed by the Governor on May 12, 2021.

In the next few weeks, we will be completing our full Legislative Issues Guide which will go into greater detail on the above, and also address Bills that did not pass that would have been impactful. Many of those Bills could resurface in 2022 or the future, so we will continue to monitor them and provide you with any updates on their progress.

If you have any questions on the above legislation, please reach out to me at tmoore@insurors.org.

About the Author Trey Moore is the Government & Legal Consultant for Insurors. Moore operates Trey Moore Consulting in Nashville and was formerly senior public policy counsel for Bass, Berry & Sims. Prior to that role, he had nine years of experience in government relations with Acadia Healthcare, BlueCross BlueShield of Tennessee and others He is a native of Gallatin and a graduate of Sewanee and Nashville School of Law. u The Tennessee Insuror

MY CUSTOMER WANTED TO GROW HIS BUSINESS AND WAS COMPETING

FOR A LARGE CONTRACT T.

I ISSUED A COI FOR HIS

BUILDERS MUTUAL POLICY

THAT VERY DAY.

THANKS TO BUILDERS MUTUAL I CAN GIVE MY CUSTOMERS WHAT THEY NEED WHEN THEY NEED IT. Whether it’s the voice in your head or the one right beside you, Builders Mutual is always there, at work with you.

BuildersMutual.com

The Tennessee Insuror

33

It shouldn’t take debris from half a mile away slamming into your customer’s building to find out who you can trust.

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

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The Tennessee Insuror

Association Update Trimble Named Hamilton Co. Republican Chair Earlier this year, the Hamilton County Republican Party selected Arch Trimble IV of RSS Insurance in Chattanooga as the party's next chairman. Trimble said, “There are no words to express how thankful I am for the overwhelming amount of support received."

Insurors Adds Smith for Member Support Insurors of Tennessee has announced the addition of Jake Smith to its staff as Member Support Specialist. Smith is a Hendersonville native and earned his Bachelor's degree from UT-Knoxville in Journalism and Electronic Media. He most recently worked as a marketing representative for the USLI program at the Chris Leef General Agency, Inc. in Kansas City. His grandfather, Craig Smith, was a former Insurors Board member and operated Martin & Hayes Insurance, and his mother, Janet Smith, is the president of Bailey Special Risks.

Haven Ins. Partners Acquires AIM; Adds Carr Haven Insurance Partners, located in Jackson, is excited to announce that they have acquired American Insurance Management, Inc (AIM) and added Beau Carr to their team.

Started by Bill Graves in 1981, AIM prides itself on being a local independent agency with a combined 100 years of insurance industry experience. AIM will continue to operate at its existing location with Bill and Rhonda Lovell staying with the company.

Carr will be joining their team selling both personal and commercial lines of insurance. He comes to Haven with 13 years of experience in the industry. Carr is passionate about helping others in times of need and protecting his customer’s assets. “I’m excited to join this new agency that is energetic about growing their business and building relationships in the community.” says Carr.

Denbo and Hoover Named "Top Producers" Will Denbo of Commercial Insurance Associates (CIA) in Brentwood and Chip Hoover of J. Smith Lanier, a Marsh & McClennon Agency, in Murfreesboro, have both made the Insurance Business America "Top Producers" list for 2021.

The list recognizes 128 standout producers who rose above the challenges of 2020 to ascend to the top tier of the U.S. insurance industry.

The Tennessee Insuror

SouthPoint Risk Named to Grange's "Circle" Grange Insurance has announced that SouthPoint Risk has earned the company’s prestigious Leadership Circle designation for outstanding achievements in 2021. Grange’s Leadership Circle designation is the highest honor awarded to a select group of high-performing independent agency partners who excelled in both business development and customer service during the previous year.

A leader in the insurance industry, SouthPoint Risk is one of just 36 agencies to receive this year’s award. This is out of nearly 4,000 independent agencies that sell Grange’s personal auto, home, life and business insurance products.

Noe Receives Community Partner Award MTSU's professional selling program has named Jamie Noe of Insurance Group of America in Franklin as an EXL Community Partner Award winner. In 2019, Noe's agency pledged a $100,000 commitment to the Jones College of Business to further develop the Professional Sales Concentration within the Marketing Department.

Price & Ramey Contributes to SafeSpaces Kingsport-based Price & Ramey recently donated a 1st Quarter total of $839 of their Jeans for Charity campaign to SafeSpaces.

Employees who participate in the charitable giving program can wear jeans to work each Friday.

Each quarter those funds are matched and donated to a local organization. With facilities in Sevierville, Dandridge, and Newport, SafeSpaces works to end domestic violence by supporting and empowering victims and educating the community.

Reliance Partners Named a "Best Workplace" Great Place to Work® and Fortune magazine have honored Chattanooga-based Reliance Partners as one of the "Best Workplaces in Financial Services & Insurance™." This is Reliance Partners’ 4th time being named to this prestigious list.

Earning a spot means that Reliance Partners is one of the best companies to work for in the country. The Best Workplaces in Financial Services & Insurance award is based on analysis of survey responses from more than 840,000 current employees across the U.S. u 35

Your insights

+

Our

strengths and expertise

=

Top-class

protection around the world

Your attorney clients know their firm inside and out. You know your markets and your competitors. At Swiss Re Corporate Solutions, we have the capabilities and the financial strength to meet the risk needs of insureds for Lawyer’s Professional Liability. Whether the risk is basic or complex, we believe there’s only one way to arrive at the right solution. And that’s to work together and combine your experience with our expertise and your strengths with our skills. Long-term relationships bring long-term benefits. We’re smarter together.

Swiss Re Corporate Solutions is proud to be the exclusively endorsed Lawyer’s Professional Liability provider for the Insurors of Tennessee. For more information or to access the program, please contact administrator Jeff Severino of Lockton Affinity at JSeverino@locktonaffinity.com or 913.652.7520.

36

Insurors of Tennessee Ph 1 800 264 1898 E info@insurors.org

The Tennessee Insuror

Insurance products underwritten by Westport Insurance Corporation, Overland Park, Kansas, United States, a member of Swiss Re Corporate Solutions.

Company Spotlight Grange Insurance With a long history of supporting independent agents, an “A” rating from A.M. Best and a customizable lineup of home, auto, life and business insurance, Grange Insurance offers the stability of a large insurance carrier and the personalized service of a small business.

Grange builds productive, unique relationships with their agents and combines that with a focus on Ease of Doing Business® that gives those agents the best chance to succeed. They serve nearly 700,000 policyholders in 13 states throughout the Midwest and Southeast with almost $3 billion in assets.

Grange Commercial Lines Grange offers agents a crystal-clear appetite that covers more than 1,700 classes and a wide variety of commercial products including Businessowner’s Policy (BOP), Commercial Package, Worker’s Comp, Farm, Commercial Umbrella and Commercial Auto.

Grange also provides coverages such as, Cyber and Employment Practices and Liability Insurance and Equipment Breakdown Coverage that are crucial for your clients in the modern workplace. Their AutoAccel® coverage offers a solution for any non-standard commercial auto client.

The Grange commitment to providing the best to agency partners includes services and policies that are true differentiators. Their 36-Month Package Policy offers rate stability for your clients.

Their Commercial Service Center takes care of the little things so you can grow your business. Their Risk Management Consulting team gives businesses of any size a partner to help identify issues and develop solutions.

Personal Lines Grange Personal Lines offers a full suite of The Tennessee Insuror

Committed. Connected. Partners. customizable Home and Auto products that can help agents meet the needs of any client.

Additional coverages such as ID Theft, Cyber, Umbrella and Underground Service Line give your clients the peace of mind and protection they expect from their insurance. OnTrack, their usagebased auto insurance app, can help your clients earn a discount with safe driving practices.

Life Backed by Kansas City Life, Grange agents can offer their policyholders a variety of life insurance and financial products including Term Life, Whole Life and Annuities. Visit kclife.com for more information.

A Digital World Grange policyholders and agents have access to the latest developments in technology. Policyholders can access their billing and policy documents from any desktop or mobile device with the Grange Insurance app or a MyGrange online account.

Policyholders can also pay their bills via EFT (Electronic Funds Transfer) and receive claims payments via electronic claims payment. Grange also has selfservice options for policyholders including their DIY Home Inspection tool and their Easy Snap for minor auto claims.

For more than 85 years Grange Insurance has been Committed, Connected, Partners for their independent agents as a stable, supportive presence for their business. For more information about Grange, visit them online at www. grangeinsurance.com or contact the local Tennessee team listed in the right hand column. u

Tennessee Contacts Joe Craven District Sales Manager 615.440.0744 cravenj@grangeinsurance.com Katherine Ethridge Market Sales Manager Middle and West Tennessee 615.308.6572 ethridgek@grangeinsurance.com Eli Baer Territory Sales Manager East Tennessee 865.454.9786 baere@grangeinsurance.com About Grange Insurance Through its network of independent agents, Grange Insurance offers auto, home and business insurance protection as well as life insurance offered by Grange Life Insurance and Kansas City Life Insurance. Established in 1935, the Grange Insurance Company serves policyholders in Georgia, Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia.

Grange is rated “A” (Excellent) by A.M. Best. For a complete listing of Grange’s insurance products and availability, visit grangeinsurance.com.

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TOGETHER WORKING

“Exclusive member agencies, collaborating to bring the best insurance solutions to their clients.”

The Allison Insurance Group - Jackson Assured Insurance Consultants, LLC - Morristown Bagley & Bagley Insurance - Fayetteville Boyle Insurance Agency, Inc. - Memphis Burke, Powers & Harty - Bristol Carnal-Roberts Agency, Inc. - Lexington Cate-Russell Insurance, Inc. - Maryville Goss Insurance - Hixson Higgins Insurance - Clarksville/Hopkinsville, KY Inter-Agency Insurance Services - Knoxville Martin & Zerfoss, Inc. - Nashville 38

McInturff, Milligan & Brooks - Greeneville Miller | Loughry | Beach Insurance Services - Murfreesboro Ownby Insurance Service, Inc. - Sevierville Powell & Meadows Insurance Agency - Carthage Smith-Berclair Insurance, Inc. - Memphis S.N. Anthony, Inc. - Ripley Sunbelt Insurance Group - Chattanooga Tigrett & Pennington Inc. - Dyersburg V.R. Williams & Company - Winchester Watauga Insurance, Inc. - Johnson City

Get more information now at www.securerisk.com

The Tennessee Insuror

Vendor Spotlight ePayPolicy

The Simplest Way to Collect Insurance Payments

Have you thought about which technology investments you want to make at your agency this year? Here is a simple start: digital payment processing. A basic but essential feature for your clients. Our endorsed digital payment processor, ePayPolicy, provides your agency: • • •

Ability to collect credit card and ACH payments (for only $20 per month) Digital, branded payment portal that your clients will love No contract or setup fees! Get signed up in 5 minutes

Built by insurance professionals for the insurance industry, ePayPolicy is on a mission to replace paper checks for all agency billing. By offering a convenient, secure solution for independent agencies, brokers, MGAs and premium finance companies, ePayPolicy is transforming the way the independent insurance industry collects payments and sends funds. ePayPolicy is also fully-integrated with Vertafore’s AMS360,

QQCatalyst, FinancePro, AIM and Sagitta, as well as Applied CSR24 and a handful of other popular management systems across the industry.

In addition, another great feautre of ePayPolicy is that they allow you to pass on all processing fees to the payer, keeping your bottom line intact. Plus, because you never see those fees touch your account you can do all of this while staying in compliance. In turn, you'll avoid the hassle of collecting credit card fees yourself on platforms like PayPal.

Get Started with ePayPolicy If you’re ready to speed up you receivables, bind business faster, and offer a seamless payment experience to your clients it’s time to reach out to ePayPolicy.

Visit https://epaypolicy.com/endorsements/insurorstn/ for more information on the features and how to get started.

And if you sign up now, use promo code insurorsTN to get two months free! u

Partnering with people in business.

At FCCI, we’ve been working with businesses for more than 60 years, now in 20 states and D.C. Our financial strength, expertise and claim handling help businesses thrive and face the future with confidence.

More than an account.

A relationship.

PROPERTY

The Tennessee Insuror

I

C A S U A LT Y

I

SURETY

I

RISK MANAGEMENT

I

SECTOR EXPERTISE

39

More than a network, we’re a community.

There are many reasons why independent agencies turn to Keystone, but you might ask what makes them stay?

Keystone is more than just a network - we’re a community. Our goal is to strengthen independent agencies by bringing them together for peer-to-peer collaboration, industry expertise and access to national resources.

Together, we’re making each other stronger and keeping clients better protected.

That’s how independence works better together!

FOR MORE INFORMATION, CONTACT: Michele Bicknell 570.473.2148 | mbicknell@keystoneinsgrp.com keystoneinsgrp.com 40

keystoneinsgrp.com ©2020 Keystone Insurers Group ®. All rights reserved. This does not constitute an offer to sell a franchise in any state in which the Keystone Insurers Group franchise is not registered.

The Tennessee Insuror

Company Briefs Denney Retiring; Weber Joins Arlington/Roe Arlington/Roe has announced that Scott Denney is retiring from his role as Tennessee Marketing Manager and that Nick Weber has joined the company to assume the role.

Denney began his insurance career in 1977, working in commercial insurance as an underwriter and claims representative.

He later moved into insurance company management and marketing. He joined Arlington/Roe in January of 2017. In 2020, he was awarded the Presidential Citation at the Insurors of Tennessee's 127th annual convention for outstanding service.

Weber began his insurance career in 2016 with Farmers as a claims adjuster, and after nearly two years, he took a job within the company as an agency recruiter in Nashville. During his employment with Farmers, he won their Excellence in Customer Service award twice.

In 2019, Nicholas moved over to the independent insurance industry side and began working for the Insurors of Tennessee as their member engagement specialist. Originally from the Kansas City area, he attended Kansas State University and graduated with a degree in Business Management.

The Hanover Names Lee as EVP and CIO The Hanover Insurance Group, Inc. has announced Willard T. Lee has been appointed executive vice president, chief information and innovation officer, effective immediately. In this role, Lee is responsible for advancing the company's information technology roadmap and delivering technology solutions that support the company's business operations, its agent partners and its customers.

Lee joined The Hanover in 2003, supporting the company's commercial lines business within information technology.

During his tenure, he has managed the company's innovation efforts, led the integration of acquisitions within corporate development, and managed the core commercial product group. He has served in various roles, including chief operating officer of specialty lines at The Hanover and most recently was appointed senior vice president, deputy chief information officer and a member of our senior executive team in 2020. Prior to The Hanover, Lee spent more than 10 years The Tennessee Insuror

as a consultant in both startups and Fortune 500 companies, covering a broad set of industries including manufacturing, telecom, financial services and pharmaceuticals. He holds a Bachelor of Science degree in information systems from Rensselaer Polytechnic Institute.

West Bend Named a Top Industry Workplace West Bend Mutual Insurance recently took the numberone spot in the Best Place to Work in Insurance for the large employer category. This is the eleventh consecutive year West Bend has been recognized on this prestigious list of companies by Business Insurance magazine and the Best Companies Group.

The Best Place to Work in Insurance national awards program is designed to identify, recognize, and honor the best places of employment in the commercial insurance industry, benefiting the industry's economy, its workforce, and businesses. It recognizes West Bend’s commitment to attracting, developing, and retaining great talent through a combination of culture, benefits, and other programs associates value. Companies participating in the program include property/casualty insurers, group life/health insurers, reinsurers, third-party administrators, and agents/brokers.

Partner Platform Integrates with Lightspeed Partner Platform agency management system has announced that they now offer seamless integration with Lightspeed Voice which offers a complete VoIP phone solution, including: live switchboard, ability to listen in on calls, record calls, realtime performance metrics, and a screen pop-up on inbound calls, so Partner Platform will automatically pull up the prospect or contact's information.

Coterie Adds Dogan as VP of Product Coterie has announced that the company has added Will Dogan as Vice President of Product. Dogan has an extensive background building and leading product and design teams in the InsureTech world, at both startups and mature companies. As a proud insurance geek, Will loves the critical and creative role that product and design can play in helping the industry to advance and evolve.

INSBANK Parent Reports Profit Increase InsCorp, parent company to Insurors banking partner INSBANK, recently reported first quarter earnings of $1,290,000, or $0.44 per common share. This represents an increase of $482,000, or 60%, over the previous quarter, and a 41

2021 JM Wilson CF TN Insuror.indd 3

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3/31/21 10:58 AM

The Tennessee Insuror

$557,000 increase over the same quarter the prior year.

Factors contributing to the results included core loan growth; PPP loan fee income; decreased funding costs; and income recognized from interest rate hedges. "Our team members have been purposeful throughout the pandemic, allocating resources to pandemic-driven matters such as industryspecific credit challenges, PPP loans, and the Fed's zero interest rate policy, while concurrently executing innovation strategies in a rapidly-changing, technology-driven economy," said Jim Rieniets, President & CEO of INSBANK.

Acuity Promotes Nitsch and Molkenthine Acuity Insurance has announced the promotions of Randy Nitsch and Michelle Molkenthine to more senior positions within the company.

Randy Nitsch is promoted to Manager – Commercial Underwriting at Acuity to oversee a newly created New Mexico/ Colorado underwriting team. Randy started his career with Acuity in 2012 as Commercial Underwriter and was promoted to Senior Commercial Underwriter in 2017. Randy graduated from Silver Lake College with a management degree and obtained his MBA from Concordia University.

administration.

Michelle Molkenthine is promoted to Senior Staff Accountant – Payroll & Budget at Acuity. Michelle joined Acuity in 1990 as an Accounting Clerk. She was promoted to Staff Accountant in 1995 and Senior Staff Accountant in 2002. Michelle is a 2005 graduate of Lakeland University with a double major in accounting and business

Gainey Named President of Farmers Mutual Farmers Mutual of Tennessee has announced that Wes Gainey has been named as President of the Knoxville-based company. Gainey formerly served as Vice President of Business Development for the the company, which writes home, farm and church insurance across the state.

Genesee General Now Jencap Ins. Services Genesee General has announced that the company will now be known as Jencap Insurance Services Inc. The change comes after the 2018 acquisition of Genesee by JenCap Holdings LLC (JCH), a specialty insurance business. Jencap Insurance Services will continue as a a managing general agency, program administrator and wholesale insurance broker based in Alpharetta, Georgia. The company was founded in 1982 and has been led by Roger Ware since 1998.

At Stonetrust, we know a little something about showing up when it matters most, and we strive to always be there for the independent insurance agents and policyholders that trust us with their business.

Along with offering workers’ compensation and employers’ liability insurance, Stonetrust works to help companies prevent accidents and remain Stonetrust Safe - an entire system of in-house processes

and services designed to achieve safety goals and keep premiums and claim costs down.

800.311.0997

STONETRUSTINSURANCE.COM The Tennessee Insuror

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Their finance company, Insurance Payment Company (IPC), will not have a name change.

– to account for variance in adoption and gauge which capabilities offer the greatest lift to revenue growth.

AmWins Purchasing Worldwide Facilities

Overall, agencies within the low adoption group scored an average of 2.76 while high adopters scored an average of 6.76 on the 10-point scale, highlighting a significant opportunity for all agencies to become more deeply digital. Year-overyear, agencies within the low digital adoption group grew an average of 7.4%, while high adopters grew an average of 12% – equating to a more than 60% greater lift in revenue growth for highly digital agencies.

Wholesale broker AmWins has announced that they plan to purchase the fifth largest U.S. wholesaler, Worldwide Facilities LLC. Terms of the deal have not been disclosed. In 2019, Charlotte-based AmWins had wholesale premium volume of $14.67 billion and gross revenue of $1.37 billion. Los Angelesbased Worldwide Facilities reported $1.81 billion in premium volume and $165 million in gross revenue in 2019.

The deal will continue AmWins acquisition streak, which has made them the largest wholesaler in the U.S. It will also expand their casualty and professional lines businesses, particularly around construction, workers' compensation, directors and officers liability, and errors and omissions insurance.

Harford's Thames Elected to FDC Counsel Harford Mutual Insurance Group announces Assistant Vice President, General Counsel, & Secretary Geneau M. Thames, Esq. has been elected to join the Federation of Defense & Corporate Counsel (FDCC).

The FDCC is an international, professional trade association composed of leaders in the legal community who have achieved professional distinction in the civil defense, corporate legal, and insurance industries.

FDCC membership is limited and selective.

A peer must nominate a new member. An independent admissions committee then reviews each nominee’s qualifications before being elected by the board of directors.

Liberty Mutual and Safeco Report on Digital Customer expectations around digital are changing rapidly.

To explore how independent insurance agencies (IAs) are evolving to meet new expectations, recently, Liberty Mutual and Safeco Insurance released the Rise of the Digital Insurance Agency report.

Based on a survey of nearly 600 US-based independent agents and brokers, the research examined the connection between revenue and digital adoption and found that digitally savvy agencies grow faster – 60% more on average – than their less digital counterparts. The report also introduces the Agent for the Future™ Index, which measures the state of digital transformation in the IA channel, and uncovered seven revenue-driving digital capabilities.

Explore the research findings at www.AgentForTheFuture. com/DigitalAgencyReport. The Index broke respondents out into three groups – low, medium and high digital adoption 44

Arlington/Roe Staff Earn Cyber Designations Arlington/Roe has announced that Allison Arnold, Melissa Hilgendorf and Sonyia Townsend have earned the new Cyber Professional Liability Practitioner (CPLP) designation. They are among the first 10 individuals to receive this designation.

The CPLP designation provides foundational knowledge of key cyber liability concepts as they relate to professional liability as well as ongoing continuing education in the latest trends and changes to cyber liability in the professional liability space.

Utica National Adds Crisis Response The member companies of the Utica National Insurance Group have partnered with Empathia, Inc. to provide crisis counseling services, and The Castle Group to provide crisis public relations services to its school policyholders. According to Brian Saville, Utica National Educational Institutions resident senior vice president, the services can be available for policyholders after the occurrence of a traumatic event.

Saville said agents and policyholders have wanted crisis management services to respond to crisis events. Utica National also offers coverage for expenses due to violent and man-made events like food poisoning that require intervention by authorities.

Berkshire Hathaway Adds Robb in Cyber Berkshire Hathaway Specialty Insurance (BHSI) has appointed Brian Robb as senior vice president, head of Cyber/MPL/Tech, in the U.S. Robb comes to BHSI after nearly 11 years at CNA Insurance, where his experience spanned both the underwriting and claims sides of the business. He was most recently Product Leader, Cyber/Media/ MPL/Tech E&O. Prior to that role, he held the positions of Cyber Industry Leader and Senior Claim Counsel, Global Cyber and Technology Claims, at CNA. He will be based in BHSI’s New York office. u The Tennessee Insuror

The Tennessee Insuror

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Agents for the Community

presented by

White & Associates Insurance • West Tennessee In this series, Penn National Insurance and Insurors are recognizing some of the work our members do for their communities. During Convention, the new "Penn National Agents for the Community" Award will be presented to one of the featured agencies.

The Insuror: Why is community service such an important part of your agency?

White & Associates: Our community is the reason we exist.

Without the support of every insured that has put their trust in White & Associates (W&A) over the last 45 years, we would not be standing. We believe it is our duty and responsibility to give back. One of the best things about being a local agent is our ability to be fully immersed in the organizations the make our towns fantastic places to live.

program since 2015 and we hope to double that many times over.

The Insuror: What do you think it means to clients to see their insurance agent involved in their community?

White & Associates: We all know that our clients are flooded with options in regards to their insurance. They can jump online and get a quote in a matter of minutes. We can provide a comprehensive quote fast too, but we also are about something much more than just insurance. The people who work at W&A serve in schools that your kids attend, we volunteer at the same church your family just joined and we show up at the 5k fundraiser you will run next week. When we cover your needs, it makes it possible for us to feed into the same community you care about. Our community is stronger when we are all in it together.

W&A's Kristal Carpenter (L) presents a check to Birth Choice

The Insuror: What are some of the main causes/ groups you support? How and why did you get started with them?

White & Associates: Six years ago, we developed an employee-driven community program called Referrals for a Cause, which allows our team to select specific local nonprofits for us to collectively support throughout the year. We donate ten dollars every time we get a referral. Our favorite part about the program is the opportunity to learn more about local organizations that our employees are involved in and want to support including: Life Choices, Habitat for Humanity, Special Ops Xcursions, Reelfoot Rural Ministries, The Scarlet Rope Project, Psalm 4:8, The Carl Perkins Center for the Prevention of Child Abuse, Diamonds in the Ruff, The Bridge of West Tennessee, Matthew 25:40, We Care Ministries, the Community Cancer Fund and the Funny Farm Rescue Ranch.

Our team has raised and donated $23,600 through this 46

The W&A team at the Autumn March 5K for ALS Awareness

The Insuror: Do you feel this service work adds to the "staff culture" of your agency?

White & Associates: Our culture starts at the top. Our leader has made it his mission to serve the employees who make up W&A and the community that houses us. If you are not ready to selflessly serve your co-workers, your clients and your community, you probably are not going to fit in with our team's culture.

Just recently you could catch our CFO and human resources manager teamed up during their lunch hour to trim the overgrown trees next to our YMCA soccer fields. One saw a need and grabbed their clippers. The other stopped to help without thinking twice about it, being just a natural response for them. That is the culture we will continue to strive for at W&A. The Tennessee Insuror

The Insuror: How could our industry as a whole do a better job of supporting the communities they insure?

PREMIUM FINANCE MEETS INDUSTRY-LEADING TECHNOLOGY

White & Associates: Thankfully, our experience is that independent agents serve as pillars of communities all across Tennessee. What has been really fantastic is seeing so many of our carriers partnering with local agents in giving back.

Last year, we were incredibly honored for Liberty Mutual and Safeco Insurance to donate $5,000 to our Carl Perkins Center for Prevention of Child Abuse as part of their Emergency Community Support Grant program.

Our local non-profits were some of the worst hit financially throughout the COVID-19 crisis, and our carriers directed money into organizations that were vital in supporting our communities. We needed help and they delivered! We are excited to see more and more carriers making a collaborative effort to funnel dollars to local needs.

IPFS TOTALPAY

TM

One Portal: Two Ways to Pay

1

INSURANCE PREMIUM FINANCING Paying in installments frees up capital to help you ensure appropriate level of insurance coverage

Provides credit at competitive industry rates

W&A's Tim Ladd and Jan Jernigan trim trees for the YMCA soccer fields

Enables paperless premium payment process

2

PAYMENT IN FULL Eliminate time spent on premium payment collections Provides opportunity for reduced accounting expenses W&A's Whitney Allmon (L), in the agency's partnership with Liberty Mutual and Safeco, presents a check to the Carl Perkins Center

The Insuror: Thank you for giving us your time, and we appreciate the work you're doing.

White & Associates: Thank you for highlighting so many incredible agency stories. We are honored to be a part and continue to be thankful for your work in advocating for independent agents. We also want to thank Penn National Insurance for their sponsorship of this series and support of the Association. u The Tennessee Insuror

Expedites the premium payment process ACH or credit card payment* *Our credit card payment processing partners, FIS and Plug & Pay Technologies, charge $12.50 for payments under $400 or 2.99% for payments of $400 or more.

To find out more about IPFS TotalPay contact: TM

HANK KNIGHT

443.613.4820 | hank.knight@ipfs.com Copyright © 2020 IPFS Corporation. All rights reserved.

47

Agents Are Here to Stay

...continued from page 12

channels the clients prefer: text, chat, email, voice or the web.

Recruit. Assess. Train. Retain.

2. Foster a Happy, Effective Employee Culture Let’s be honest: most AMS interfaces are far from intuitive or user-friendly. Compare insurance technology with the bells and whistles your new hires may see in other industries and you can see why this might be a hard sell. To attract and retain great employees, agencies should look to provide them with software that is visually appealing, easy to learn, and simple to use. Also give them access to tools that they can utilize on the go. Close the gap by giving them the tools and technology to help them to excel in their role, and you’ll have a loyal team as a result.

3. Drive Organic Sales Through Increased Producer Productivity Agents are always looking for ways to improve their bottom line. Help them succeed by giving them access to insights that will enable them to find new growth opportunities. In addition, give them insights into their performance immediately, which will help to drive efficiency for your entire organization.

Once I talk with investors about all of this, they do get it; they see the potential and get excited about the opportunity to further support agents through technology. That’s important because we need venture capital to build this ecosystem. We have a market of agents and brokers and we have more and more startups looking to provide solutions for the industry.

Investment is the piece that closes the loop, making it possible for startups to develop technology that goes even deeper to meet the needs of the market.

The fact that investors see insurance as a valid market and a good place to invest means that we can keep offering more to agents and helping them to do an even better job for their clients. Between agents’ efforts, startup innovation and venture capital support, we can keep agents as one of the industry’s most valuable assets and help them to become better than ever.

About the Author Liri Halperin is a serial entrepreneur and the founder & CEO of LeO, a leading conversational AI platform designed specifically for the insurance industry. LeO supports insurance agents and enterprises with 24/7 AI-powered chatbots that handle customer service and sales needs, helping to cut costs and increase ROI. Before LeO, Liri co-founded two other successful start-ups. She’s also the co-founder of Parliament51, a social impact venture that aims to obtain equal opportunities for women in the workplace, and was proud to be invited to speak on this topic at the United Nations last winter. u 48

CREATE YOUR DREAM TEAM! GOT BONDS?

TEAM UP WITH GOLDLEAF SURETY GOT BONDS? SERVICES! You’re not alone.

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Big “I” Markets and Goldleaf Surety Services are here to help your agency navigate the complex bond market.

With one call, Goldleaf can provide your agency According to the Agency Universe Studywith 44% of instant access to almost every type owners of bond your independent insurance agency sayclients finding Big “I” Markets and Goldleaf Services are here to will ever request, from performance bonds Surety to almost qualified new recruits is their topthe challenge. help your agency navigate complex every other type of surety and ϐidelity bond that maybond be market.

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Find the right will recruits with Big "I" Hires, ever request, from performance bonds to almost Goldleaf hasresource excellent market capacity forand bidinsurance bondsbond andthat may be every other type of surety ϐidelity a one-stop for independent needed. performance/payment bonds on all types of contract agencies to identify, hire and assess obligations including: Goldleaf has excellent market capacity for bid bonds and top-performing Producers and CSRs. • • • • • • •

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Big “I” Markets and Goldleaf Surety Services are here to help your agency navigate the complex bond market.

With one call, Goldleaf can provide your agency with June 2020 instant access to almost every type of bond your clients The Tennessee Insuror will request, from performance bonds to almost June ever 2020 every other type of surety and ϐidelity bond that may be

YOU’RE INDEPENDENT. BUT YOU’RE NOT ALONE.

INSURORS CUTS THROUGH THE RED TAPE TO GET YOUR VOICE HEARD. HELP US WORK FOR YOU “ON THE HILL.”

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“I had high expectations and they were met.”

- Beth Gardner, COO, Cook, Maran & Associates

The problem: A backlog of work.

The soluTIon: experienced WAhVe remote employees. wAhve is An innOvAtive COntrACt stAffinG sOlutiOn thAt enGAGes vintAGe insurAnCe prOfessiOnAls whO wOrk frOM hOMe On A full-tiMe Or pArt-tiMe BAsis fOr insurAnCe firMs.

50 38

visit www.wAhve.COM fOr MOre infOrMAtiOn

TheThe Tennessee TennesseeInsuror Insuror

Meetings The Wave of Meetings Has Finally Arrived Young Agents Leadership Conference 7/29-30 Insurors is relaunching its Young Agents Leadership Conference in 2021. The event will take place July 29-30 at the Dollywood DreamMore resort in Pigeon Forge. This event will focus on networking, developing industry leaders for the future, examining sales & marketing and discussing industry culture.

Young Agents can join the Insurors Board of Directors, Young Agents program sponsors and industry "influencer" podcast hosts as we network and discuss the future of insurance and the independent agency channel.

Get more information or register now by visiting insurors.org today.

Big "I" Leadership Conference 9/29-10/3 The Big "I" Fall Leadership Conference will return as an inperson event on September 29 - October 3 at the Kansas City Marriott Downtown in Kansas City, Missouri. The event will feature the Education Convocation, National Board and Committee meetings, the Young Agents Leadership Institute and more. For further details, please visit www.iiaba.net and watch for more information soon on registration and hotel reservations.

Insurors 128th Annual Convention 10/16-19 The Insurors 128th Annual Convention returns to its inperson meeting tradition on October 16-19 at the Marriott Shoals Resort & Spa, located just outside of Florence, Alabama on the beautiful Tennessee River. We look forward to seeing everyone again as we host our opening celebration, tradeshow, sessions, golf outing, clay shoot, special events and more.

We'll also have special guest entertainer Paul Overstreet performing at our Sunday night Opening Celebration and keynote speaker Manley Feinberg speaking at our Agents' General Session.

Registration for the event is now open online! Please visit our Convention page at https://www.insurors.org/IOT/ Convention/2021ConventionHome.aspx for more info or to register now. u The Tennessee Insuror

Could your agency weather a data security breach?

A full 80 percent of businesses that experience one don’t.1 The right insurance can keep your agency from becoming part of this startling statistic.

Data breaches are common among smaller businesses, and responding to a breach is both costly and complex.

You are obligated to protect the data you collect, and package policies are often not enough.

Make sure your agency has the right coverage in place to protect you and your insureds.

Contact your Insurors E&O Specialist, Stephen Holmes, CIC, CISR, for information on Data Breach coverage.

1. Privacy Rights Clearinghouse: Chronology of Data Breaches

Stephen Holmes, CIC, CISR sholmes@insurors.org 615.515.2609

51

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Member Tips Growing Your Agency With Sales & Service

by Katlyn Eggar, Quantum Assurance As the owner of a community-minded insurance agency, I often found myself stretched thin – one foot shackled to customer service and the other trying to step toward new business. I wanted to reach more clients in the community but also needed to train my customer service agents to deliver the high level of advice in line with our agency's mission. Discovering what your agency is at its core will lead to clarity in your mission and purpose. Other agents cannot define this for you, and asking for advice is dangerous ground when there are so many business models to choose from in the world of independent insurance.

Nevertheless, it is important to seek advice from people who are experienced in the business model you are trying to build.

During my own journey, I landed on a couple of guiding principles. These realizations helped me design a business model that led our team to break the sales records we were chasing and enabled us to help more clients.

First, I acknowledged that our level of focus would directly correlate to our level of success. I separated sales and service into unique, defined roles and trained accordingly. Second, I committed to our agency mission of making the biggest impact possible in our community. For that, I needed to invest heavily in our new business growth strategies.

Transforming our new business growth into a high-volume sales operation required both a financial investment and a cultural commitment. I invested heavily in marketing campaigns, digital sales leads and sales recruiting efforts. I committed to creating a team culture where top sales professionals were proud to work and changed the office environment to create the energy and momentum salespeople enjoy.

These efforts carried over to the customer service team, and, through training and education, I shortened the gap between the sales role and the service role. Our customer service agents began to embrace cross-selling and up-selling through policy reviews, using the techniques applied in the sales department.

Transforming into a sales organization accelerated our growth, brought us out of a plateau and created an environment where our team saw our mission coming to fruition at a faster pace.

If you are juggling competing demands of sales and service in your agency, remember that heavily investing in sales and marketing doesn't mean you don't care about current clients. You can pursue a growth mindset as a team that positions you in front of even more clients and allows you to reach more people. u

Directory of Advertisers Advertiser

Phone

Website

Page

ACUITY (920) 458 - 9131 www.acuity.com 9 Arlington/Roe (800) 878 - 9891 www.arlingtonroe.com 7 Bailey Special Risks, Inc. (800) 768 - 7475 www.bsrins.com 12 Berkley Southeast Insurance Group (615) 932 - 5508 www.berkleysig.com 19 Berkshire Hathaway Guard Insurance Cos. (800) 673 - 2465 x4567 www.guard.com/apply 22 Big "I" Hires (800) 221 - 7917 www.bigihires.com 48 Builders Mutual (800) 809 - 4859 www.buildersmutual.com 33 ePayPolicy (844) 372 - 9300 www.epaypolicy.com 52 FCCI Insurance Group (800)226 - 3224 www.fcci-group.com 39 Genesee General (800) 282 - 8755 www.geneseeins.com 33 Governmental Risk Insurance Plans (GRIP) (270) 282 - 8020 www.governmentalriskinsuranceplans.com 16 Harford Mutual (800) 638 - 3669 www.harfordmutual.com 45 Human Capital Concepts (800) 419 - 4037 www.hcchr.com 39 Imperial PFS (443) 613 - 4820 www.ipfs.com 47 INSBANK (866) 866 - 4268 www.insbanktn.com 11 J.M. Wilson (800) 595 - 0063 www.jmwilson.com 42 Keystone Insurers Group (800) 416 - 5498 www.keystoneinsgrp.com 40 Liberty Mutual/Safeco (800) 837 - 5254 libertymutual.com | safeco.com 30 LUBA Workers' Comp (888) 884 - 5822 www.lubawc.com 15 Markel Specialty (800) 431 - 1270 www.markelcorp.com 22 MidSouth Mutual Insurance Company (844) 438 - 6642 www.midsouthmutual.com 26 Mountain Empire Agency Alliance (423) 560 - 6077 www.meaa4u.com/insurors 20 National Alliance (800) 633 - 2165 www.scic.com 55 National Security Group (800) 239 - 2358 x213 www.nationalsecuritygroup.com 26 Nationwide Insurance (423) 927 -2060 www.nationwide.com 17 Penn National Insurance (800) 395 - 0518 www.pennnationalinsurance.com 56 Previsor Insurance (800) 442 - 0593 www.previsorinsurance.com 42 RLI PUP (615) 515 - 2609 www.insurors.org 8 SecureRisk (770) 723 - 8096 www.securerisk.com 38 Southern Trust (800) 476 - 5566 www.stins.com 2 Stonetrust Insurance (800) 311 - 0997 www.stonetrustinsurance.com 43 Summit Holdings (800) 971 - 2667 www.summitholdings.com 13 Swiss Re Lawyer's Professional Liability (630) 213 - 9952 www.swissre.com 36 Titan Web Marketing Solutions (615) 890 - 3600 www.titanwms.com 24,49 West Bend Mutual Insurance Co. (800) 236 - 5010 www.thesilverlining.com 34 WAHVE (646) 807 - 4372 www.wahve.com 50

INSURORS 128th ANNUAL CONVENTION

SAVE THE DATE: OCTOBER 16-19, 2021 FEAT. MANLEY FEINBERG

& PAUL OVERSTREET

T H E N A T I O NA L A L L I A N C E I N F O M A P

Map your career track and customize your learning experience by selecting the designations and course offerings that fit your needs.

Rubles CIC

2

CISR Introductory Series

3

4

T H E NA T I O NA L A LLI A NC E I NF O MA P

Map your career track and customize your learning experience by selecting the designations and course offerings that fit your needs.

Rubles CIC

CISR Introductory Series

CRM

Dynamic Series

WTH Seminars

CSRM CPRM

The Introductory Series is a good choice for those interested in finding out more about the industry and industry fundamentals.

The Dynamics Series, offers career-changing sales training. Providing a variety of pertinent topics, the William T. Hold Seminars are invaluable for expanding your insurance knowledge. The Dynamics Series can be used to meet update requirements across the designations. WTH Seminars satisfy update requirements for CISRs and CSRMs.

1

The Certified Insurance Service Representative (CISR) designation provides quality insurance education geared toward customer service representatives, account executives, servicing agents, new producers, and other professionals.

The Certified School Risk Manager (CSRM) designation fills a need for quality risk management education for those associated with schools.

The Certified Insurance Counselor (CIC) provides an in-depth, practical approach to education for agents and other insurance practitioners. The Certified Risk Manager (CRM) designation is recognized as being the foremost education available in the field of risk management. The Certified Personal Risk Manager (CPRM) designation yields the best training for meeting the needs of an affluent clientele.

The James K. Ruble Seminars are advanced programs that offer a variety of specialty topics. CICs, CRMs, and CPRMs can meet their annual updates with a Ruble seminar.

2

Dynamic Series

CRM

WTH Seminars

3

1 CSRM

2 The Introductory Series is a good choice for those interested in finding out more about the industry and industry fundamentals.

The Dynamics Series, offers career-changing sales training. Providing a variety of pertinent topics, the William T. Hold Seminars are invaluable for expanding your insurance knowledge. The Dynamics Series can be used to meet update requirements across the designations. WTH Seminars satisfy update requirements for CISRs and CSRMs.

The Certified Insurance Service Representative (CISR) designation provides quality insurance education geared toward customer service representatives, account executives, servicing agents, new producers, and other professionals.

The Certified School Risk Manager (CSRM) designation fills a need for quality risk management education for those associated with schools.

CPRM

3 The Certified Insurance Counselor (CIC) provides an in-depth, practical approach to education for agents and other insurance practitioners. The Certified Risk Manager (CRM) designation is recognized as being the foremost education available in the field of risk management. The Certified Personal Risk Manager (CPRM) designation yields the best training for meeting the needs of an affluent clientele.

The James K. Ruble Seminars are advanced programs that offer a variety of specialty topics. CICs, CRMs, and CPRMs can meet their annual updates with a Ruble seminar.

2

VISIT SCIC.COM FOR MORE INFORMATION OR INSURORS.ORG TO REGISTER FOR CLASSES NOW

We answer to main street, not Wall Street.

As a mutual company, we are owned by our policyholders. We focus our

For more information about our products, please contact one of our territory managers at 615-889-2740.

Andy Wilder 7528 Brent Pottsext. ext 7514 Brent Potts ext.

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Jane Kinard ext. 7618 Bob Reeder ext 7545

time, attention, and resources on delivering superior financial strength and stability, a comprehensive product portfolio, and most of all, on doing what’s right for policyholders. To us, policyholders are much more than insurance consumers. And because of that, all of our business decisions are made with a policyholder-first focus.

www.PennNationalInsurance.com