The Tennessee Insuror Nov/Dec 2014 by Insurors of Tennessee

THE TENNESSEE

INSUROR November/December 2014

Vol. 25 No. 6

www.insurors.org

8 12 48

Insurors Convention Recap

42 Conferees Honored at Ceremony

Agency E&O Coverage From Your Carrier Good Idea?

Leading by Example 25 New Board President Cindi Gresham Wants Insurors to Set the Standard

- 2014 1989 years THE TENNESSEE

INSUROR

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The Tennessee Insuror

contents

THE TENNESSEE

INSUROR Vol. XXV, Number 6 November/December 2014

features

Phone (615) 385-1898 Toll Free: 1-800-264-1898 Email: info@insurors.org Editor: Charles T. Bidek, CPCU Publisher: Daniel D. Smith, Jr.

4 Leading by Example INSURORS OFFICERS

President ................................................................. Lou Moran III Immediate Past President .................................. Eddie Miller III State National Director .................................................. Brad Smith Vice President, Region II ...... Christie Reeves, CIC, CPCU, CPIW Vice President, Region I and Pres. Elect ....... Cindi Gresham, CIC Vice President, Region III ................................. John McInturff III Treasurer .............................................. Battle Bagley III, CIC, CPA Secretary ...................................................................... Rush Powers Director, Region I .............................. Sharon Simmons, CIC, CISR Director, Region I ...................................................... Edward Kaiser Director, Region I ........................................................... Tim Roberts Director, Region II ............................................. George Anderson Director, Region II ................................................... Joe Lester, CIC Director, Region II ................................................. Steve Copeland Director, Region III ..................................................... Kevin Ownby Director, Region III ............................................ Josh Gibbons, AAI Director, Region III ............................................. Mike Langley, CIC Young Agents Chairperson ....................... Paul Steele, CIC, CRM

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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.

New Board President Cindi Gresham Wants Insurors to Set the Standard

Insurors Convention Recap

Looking Back at the Crystal Ball

42 Conferees Honored at Ceremony

Daniel Learns About Insurance: Holiday Parties...

Agency E&O Coverage From Your Carrier - Good Idea?

departments 21

From Your President

From Your State National Director

From Your CEO

Education Calendar

Government and Legal Affairs

Broker Spotlight

Company Spotlight

Company Briefs

Meetings

Member Tips

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

Another Successful Event to Celebrate Our 122nd Year

The Season Finale

Are You Poised for the Future? What’s the Plan?

Big “I” Employee Benefits Encompass Insurance

Stopping “Typosquatters” 3

Leading by Example

New Board President Cindi Gresham Wants Insurors to Set the Standard

Cynthia Gresham was born in Columbus, Ohio. In elementary school, one of her teachers decided there were too many girls named “Cindy” in her class, and Cynthia has been Cindi ever since. Her father had been in school at The Ohio State University, where he played multiple sports including football. After graduation, he took a job with Wonderbread/Hostess Cake which led to the family moving to several cities across Ohio. He was later transferred to Detroit, and began working on labor contracts for the company. In 1968, his job led him to move the family to Memphis, which quickly became Cindi’s home. Being on the move a lot as a child, she quickly learned how to make new friends and meet new people.

A New Home Only 15 at the time of the move, Cindi was enrolled at Overton High School in East Memphis. It was there she met Brad Smith, a friend and later mentor in the insurance industry. AFter graduation, Cindi started college at what was then known as Memphis State University. She had dreams of becoming an oceanographer and decided to major in Biology. One summer, she took a job as a typist at George Holley Insurance Agency. Cindi says that the interview was not one she soon forget. “I remember being asked how many words I could type per minute.” she recalls, “I told them I didn’t know how to type, but that I knew how to take my time and be accurate.” That accuracy was key, as the job required exact dates and 4

amounts be listed on the agency’s homeowners policies. It turned out that being right was better than being fast, and the job continued past the Summer. In 1973, Cindi got engaged and married and decided not to return to school. She then took a full time position with the agency, working as a Personal Lines CSR. As she worked more and more with the agency, her role increased, and she added Commercial Lines to her responsibilities. In 1979, Cindi was offered a job at a Collierville agency, Carruthers Harris Insurance. The job ended up being a major building block for her, as she worked closely with Mark Harris and was a part of many facets of the agency’s business. As the technology age began to gain steam, Cindi helped the agency grow with the use of computers for certificates and policies. She also began her CISR designation during this time, and would continue with the agency until 1987.

Big Changes and Big Opportunities That was an important year for Cindi, as she decided to be more independent and in control of her future. She was offered a new position, one with more opportunity for growth, at Boyle Insurance, and she made the move. That was also the year she began dating her husband Rocky. Cindi recalls the couple’s very memorable first date. “Rocky had been asking me out for some time, and when I finally agreed we decided The Tennessee Insuror

to meet up at the Memphis in May barbecue festival,” she remembers, “I brought a friend along to make it less formal, and she was very pretty and wore a nice white pantsuit. Unfortunately, she had a little too much to drink and ended up sitting in a pan of baked beans! Rocky was very gentlemanly and helped her out to the car. I thought that might be the end of our dating be he called the next day and we’re still together twenty seven years later.” Cindi has two sons, Brad and Kyle, and they took to Rocky almost immediately. “He called and asked me if I wanted to bring the boys out for pizza to meet him,” she recalls. “I wasn’t sure I was ready for that, but one of the boys was listening on the phone and said they wanted to go! I guess it was meant to be.”

women involved.” It means a lot to her to be the second female Insurors President, and she doesn’t take that responsibility lightly.

Plans for Insurors in 2015 In 2015, Cindi wants to make sure the Association stays on track. She wants to expand on some of our current efforts and programs, including education and Young Agents. In fact, under her leadership we will renew the Young Agents

Cindi presents Lou with his President’s plaque at the convention

Cindi and Rocky enjoy some time outside their home

After spending some time gaining experience with Boyle, Cindi’s boss Jack Craddock promoted her to Commercial Lines Manager. After his retirement, Pat Steele took over the agency and made a great team with Cindi. She was elevated to Assistant Vice President in 2004, and in 2009 she was named President of the agency by the Boyle family.

Setting an Example During the early 2000s Cindi has also gotten more involved in Insurors and the Memphis local board at the urging of her former classmate Brad Smith. After getting to know the organizations, she mentioned to Brad about her dismay over the lack of female leadership in the organizations. “Brad suggested that I ‘put up or shut up,’” says Cindi. So she did “put up,” joining the Memphis local board and serving as its president in 2008. She then joined the State Board of Directors, serving as a Director of Region I from 2010-2012 and then as Vice President for the last two years. “I never got into it with the goal of being President,” says Cindi, “I wanted to set an example for other women in Insurance and make sure that our interests were also being represented.” She also says that meeting other Board members and agents has really given her a greater appreciation for the industry. “We have had great female leaders like Joyce Owen, Christie Reeves and Dolly Tate, but I want to see even more The Tennessee Insuror

Committee, a group of 5 members from across the state who can help Insurors develop and grow the program. As far as education, Cindi thinks Insurors offerings are as important as ever. “I actually see a decrease in the CE being offered by our carriers,” she explains. “And although you can find your hours through other programs online, I think Insurors and The National Alliance deliver a better product and are also making it more convenient.” She feels our Government Affairs dealings are in good hands under the leadership of Insurors CEO Chuck Bidek and General Counsel Ashley Arnold. Cindi also wants to maintain an emphasis on Insurors as an information resource, letting agents know about changes and updates in the industry.

More to Life Than Insurance Outside of work, Cindi puts a lot of her focus on the family.

Cindi and Rocky enjoying time with their grandchildren

Her oldest son, Brad McCaleb is an Account Executive for Raymond Warehouse Solutions in Cincinnati. Her second son, Kyle McCaleb, is in the process of moving his family to St. Louis for a job with Citibank as Vice President of Field Sales & Services. She and Rocky have six grandchildren, including five boys and one girl. Cindi is also active in the community as a supporter of the University of Memphis and various senior and youth organizations. She also spends a lot of time visiting and taking care of her elderly parents.

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Even with her many commitments, Cindi is already setting her focus on the next year for the Association. Whatever 2015 holds for Insurors of Tennessee, we can rest assured knowing that Cindi will be leading the way. u

Cindi received congratulatory cookies from her daughter-in-law

PERSONAL SERVICE. EXCEPTIONAL PARTNERSHIP. “At FCCI, we are here for our agents and our insureds for the long term, and we live by our values: loyalty, integrity, vision, excellence and service. I’m proud to work for a company that believes in ‘doing what we say we’ll do’ and I strive to do that for my agents and their clients.”

Cindi’s son Brad and his family, Alice, Jack, Brayden & Tyler

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Cindi’s son Kyle and his family, Melanie, Connor, Carson & Rianne

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The Tennessee Insuror

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Insurors Convention Recap Another Successful Event to Celebrate Our 122nd Year

This October we completed our 121st Annual Convention, one of our largest events in the last twenty years. We began on Saturday, October 11th with over 50 attendees at our sold out Predators game function. The Preds won going away with a 4-1 victory. Sunday kicked off with the Titans game and another 100 attendees on hand to see the home team hold on for a 16-14 win over division rival Jacksonville. Afterwards, the group returned to the Omni hotel for the opening of the largest trade show in Insurors history, featuring over 80 exhibitors.

breakfast. Our breakout sessions also brought in the crowds, with EPLI and Surplus Lines being the topics of the day. Monday afternoon the weather held up just long enough for our golfers and clay shooters to finish their rounds. The golf team of Ed Gibbons, Joe Lester, Scott Coon and Larry Caine won our tournament, while the clay shooters were led by the team of Tommy Allmon, John Hatler and Keith Perry. Our Sips N Strokes outing was also a success, as 25 masterpieces were created by our guests.

That evening, guests were treated to a dinner and special concert performance by up-and-coming singer/songwriter Jaida Dreyer. The setting included a breathtaking nighttime view of downtown Nashville from the Country Music Hall of Fame Event Hall.

Kevin Ownby and Brandon Clarke catching up at the Young Agent event

Our Monday night Young Agents event at Pinewood Social was one of the best events we’ve had in years. A full house packed out the vintage bowling alley and saw some impressive (and not so impressive) scores. Jaida Dreyer performs for the Insurors crowd

Monday morning started things back up with the second session of our exhibit hall, and we had over 400 on hand for 8

Tuesday morning brought everything to a close with our Association Day Meeting. Big “I” Immediate Past Chairman Tom Minkler addressed the crowd to discuss the ever-changing insurance marketplace. He then helped swear-in our 2015 The Tennessee Insuror

Board of Directors, including President-elect Cindi Gresham of Boyle Insurance in Memphis.

Lou Moran addresses the crowd in his presidential farewell speech

The 2015 Board of Directors gets sworn-in for service

In the awards portion of the breakfast, honorees included Presidential Citation winners David Sciortino of Consumers Insurance USA and Dr. Kenneth Hollman of the MTSU Insurance Department for their contributions to support Insurors over the years. Also honored were Jim Alexander Service Award winner Paul Steele of Martin & Zerfoss in Nashville for his work leading the Young Agents Committee, and Arch Northington Young Agent of the Year winner Tim Treadwell V of Boyle Insurance in Memphis for his contributions in 2014.

ciative of our many sponsors and supporters. If you couldnâ&#x20AC;&#x2122;t attend this year, we hope youâ&#x20AC;&#x2122;ll join us October 10-13, 2015 in Knoxville for the Insurors of Tennessee 122nd Annual Convention! u

Our most prestigious award was presented to Past President Ed Gibbons of Watauga Insurance in Johnson City, our 2014 Insuror of the Year. Ed has had a career-long body of work helping support the industry through education and business initiatives. Overall, we were very pleased with the turnout and appreThe Tennessee Insuror

Ed Gibbons accepts his award for Insuror of the Year

Looking Back at the Crystal Ball What’s Happening in the Banking World

Now that we’ve lost that extra hour of daylight and the calendar year is waning, now is a good time to review current topics in finance and economics. What one finds is that market predictions aren’t always accurate, and sometimes results aren’t that which they seem.

The Fed & The Banking System The watch continues on interest rates. A while ago many pundits expected rates to increase as the Fed tapered its purchase of U.S. Treasury securities. Implicit in that assumption was that demand for those securities would ease relative to supply, and that prices would decline and yields would rise. But while rates have bounced around they really haven’t risen in a manner that many expected. Why is this? A number of factors appear to be contributing. Concerns of low economic growth in Europe have strengthened the dollar, which could ultimately affect U.S. trade. The IMF lowered its global growth forecast, as well, noting regional geopolitical tensions which could become more widespread. One factor which has not received as much attention is the extent to which the money center banks in the U.S. have been steadily purchasing U.S. Treasury securities as the Fed has tapered its purchases. As reported and compiled by Bill Moreland of Bankregdata.com, starting in the 4th quarter of last year the larger banks started a steady stream of purchases that started at roughly $11 billion per month and which grew to $24 billion per month during the 3rd quarter of this year. Amongst others, this group included Bank of America, JP Morgan Chase and Citigroup. So while the Fed has reduced its demand for treasuries, the combined demand by the Fed and money center banks has been consistent with the Fed’s “pre-tapering” purchases. What remains to be seen is whether these banks will continue to have an appetite at this level, but conventional wisdom suggests that they will have a much more limited capacity and/or desire to pump up their balance sheets with long-duration securities than the Fed did. Should the banks cease their purchases, some upward pressure on yields would be expected. 10

by Jim Rieniets, President & CEO of INSBANK Mortgage Lending As mentioned above, U.S. Treasury rates have been muted, which has extended the run of low mortgage rates. While not at absolute lows, rates remain in the low “4s” and should stay in that zone until the 10-Year Treasury yield breaks through above the 2.50% threshold. An item of note that has positively affected the upper end of the market is that rates on jumbo mortgages (those greater than $417,000) are better values than they have been in recent years. In the years immediately after the Great Recession, credit spreads on jumbos were significant and made these products less attractive for homeowners. With an improving economy, credit spreads (or “premiums”) have narrowed making housing affordability greater at the higher ends of the market than in the recent past.

Impact of Elections The mid-term elections saw political winds shift. Or at least that’s the way Republicans interpret the outcome as they took control of the Senate and maintained the majority in the House of Representatives. Whether or not the GOP victory was the mandate they think it was is a matter of debate by virtue of the fact that voter participation was at its lowest level since WWII. One could speculate that many Democrats simply didn’t show up to vote, but will be back to support their traditional party affiliation in the next presidential election. Financial markets had probably already contemplated the Republican victory, as there was little market volatility on Wednesday, the 5th of November. Perhaps the markets have come to realize what many Americans have: that the federal government is a bureaucratic behemoth that neither party can materially impact in the short-run. That may be a sobering reality for those that got excited about the recent election results. About the Author Jim Rieniets serves as President and CEO of INSBANK, which requires him to manage the day to day activities of the bank. He also serves as a director of INSBANK and on the Loan and Investment Committees, as well as being the Chief Manager of the bank’s subsidiary, Finworth Mortgage, LLC. Jim has an extensive banking career and leadership background and formerly served on the Credit Committee of the Tennessee Bankers Association. u The Tennessee Insuror

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42 Conferees Honored at Ceremony

CIC Board of Governors member and Insurors Past President Scott Ferguson addresses the conferees

Over 40 Tennessee Insurance Professionals achieved designations in 2014 from The National Alliance for Insurance Education and Research. These conferees were honored at a ceremony on November 11th in Nashville.

Certified Insurance Counselors Ms. Patricia Blair Bramlett, CIC The Crichton Group - Nashville Ms. Heidi R. Carroll, CIC Travelers Insurance - Chattanooga Ms. Barbara Ann Dilliard, CIC, CISR Willis of Tennessee - Nashville Ms. Sky M. Hamilton, CIC, CISR, AU, AIS Boyle Insurance - Memphis Ms. Jennifer Hammons, CIC First Volunteer Insurance Agency - Jasper

Mr. Sam Lynch, CIC, AINS, MLIS, AAI J. Smith Lanier - Chattanooga

Mr. Bobby J. Williams, CIC Travelers Insurance - Franklin

Ms. Holly McGlocklin, CIC, CISR BB&T Insurance Services - Chattanooga

Certified Risk Managers

Ms. Karen S. McKay, CIC, CISR Nash & Powers - Bristol

Mr. Brent Allred, CIC, CRM, AAI, CLCS Lipscomb & Pitts Insurance - Memphis

Mr. Brian A. Moore, CIC, API Cincinnati Insurance - Murfreesboro

Mr. Jason Hilkin, CIC, CRM, ARM, CRIS Liberty Mutual Insurance - Nashville

Mr. Steve Peay, CIC Boyle Insurance - Memphis Mr. Jeff Roberts, CIC, CISR Regions Insurance of TN - Memphis

Ms. Tammy McDaniel, CIC, CRM, CISR, CWCA Strate Insurance Group - Morristown

Ms. Stephanie L. Sambola, CIC, CISR BB&T Insurance Services - Nashville

Certified School Risk Managers

Mr. James F. Schacht III, CIC MSC Insurance - Clarksville

Mr. Matt Neil, CRM Wright Medical Technology - Arlington

Mr. William Peter Allen, CSRM ISM Insurance, Inc. - Nashville Ms. Donna Egyed, CSRM, CPCU Liberty Mutual Insurance - Nashville

Ms. Elizabeth N. Huff, CIC, AAI Lipscomb & Pitts Insurance - Memphis

Mr. Christopher D. Shepherd, CIC Bancorp South Insurance - Memphis

Mr. Arastu T. Jahanbin, CIC Farmers Insurance - Brentwood

Ms. Rachel Sieverding, CIC, AAI, AIC Frost Specialty, Inc. - Nashville

Ms. Lindy Johnson, CIC Willis of Tennessee - Nashville

Mr. James Smith, CIC, CPCU, AAI, AU Grange Insurance - Nashville

Ms. Jane Ann Kinard, CIC, CPCU Penn National Insurance - Nashville

Mr. Robert A. Smith, CIC Corizon Health - Brentwood

Certified Insurance Service Representative Elite

Ms. Janice A. Letson, CIC, CISR AON Risk Services - Franklin

Ms. Regina Turnage, CIC, AIS Penn National Insurance - Nashville

Mrs. Yodi Fagio, CISR Elite Insurance, Inc. - Cleveland

Ms. Linda Vongboupha, CSRM, CISR Willis of Tennessee - Nashville Ms. Janet Williams, CSRM, CISR BB&T Insurance Services - Cookeville

The Tennessee Insuror

Certified Insurance Service Representatives

Mr. John Taylor Goodwin, CISR Widener Insurance Agency - Johnson City

Ms. Kelly Bartolai, CISR Insurance, Inc. - Cleveland

Mr. Joshua W. Gutknecht, CISR Lipscomb & Pitts Insurance - Memphis

Mrs. Laura Lea Bergdorf, CISR First Insurance Group - Lebanon

Ms. Shawna Gayle Kirby, CISR Swallows Insurance Agency - Cookeville Ms. Lisa M. Kolodziej, CISR BB&T Insurance Services - Nashville Ms. Michelle Majors, CISR Vertafore, Inc. - Pulaski

Vertafore, Inc. - Pulaski Ms. Anita S. Russell, CISR Consolidated Insurance Serv. - Knoxville Ms. Vanessa Lyn Sparks, CISR Crum & Blazer Insurance - Maryville Mrs. Ginny Marie Wagner, CISR TIS Insurance Services - Knoxville Ms. Cherie E. Webb, CISR Brown & Brown of Tennessee - Nashville

Ms. Linda M. McKeehan, CISR Athens Insurance Agency - Athens The conferees received their pins signifying the new designations

Ms. Margaret I. Brown, CISR EPG Insurance - Memphis

Ms. Becky L. Moore, CISR BB&T Insurance Services - Chattanooga Ms. Jennifer Norman, CISR TIS Insurance Services - Knoxville

Ms. Carmen April Cox, CISR, CPIA Miller | Loughry | Beach Ins. - Murfreesboro Ms. Holly E. Crisp, CISR Athens Insurance Agency - Athens

Ms. Kerri E. Norris, CISR Willis of Tennessee - Knoxville Ms. Debi Riepe, CISR

Cheryl Edwards was honored as Outstanding CSR of the year for 2014

Get more info on designation programs offered by The National Alliance by visiting www.scic.com or view the 2015 class schedule now at www.insurors.org. u

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Daniel Learns About Insurance: Holiday Parties Hosting Liability Are Your Clients Serving Up Potential Lawsuits?

Insurors Director of Communications Daniel Smith is far from an insurance expert, but he is trying to learn! In this new series he will look into insurance and coverage questions he has about popular trends and day-to-day life. It seems like every weekend in December, someone we know is having a party. Ugly Christmas sweater parties, dreidel spinning parties, gift exchanges, the parties are endless. Chances are you have gone or will go to a holiday party during this time of year. Maybe you are even hosting one of your own. But many Americans are unaware of the risks involved with hosting such parties. In our litigious society, serving food, alcohol and even just having people in your home can open you up for liability and lawsuits.

written by Daniel Smith

property. Make sure that you check food and donâ&#x20AC;&#x2122;t put anything out that you suspect may be undercooked, spoiled or contaminated. Use only reputable food purveyors. Follow proper food-handling, heating/cooling and storage recommendations. When in doubt, throw it out.

Know Your State Laws and Statutes

In 2012, the Big â&#x20AC;&#x153;Iâ&#x20AC;? sponsored a survey of over 750 homeowners asking about hosting parties and what was served to guests. Results showed that almost three-fourths1 of homeowners had served food in their home that was prepared by someone other than themselves. This alone can expose your clients to liability that knew nothing about. In turn, Trusted Choice released tips for holiday hosts and guests to keep in mind:

In many states, party hosts can be held liable if a guest is involved in an alcohol-related accident (Tennessee excludes private party hosts that furnish alcohol from resulting incidents liability2, however, commercial/business hosts may be held liable in some cases). Many courts have found hosts liable for damages their party guests cause as a result of consuming alcohol and then driving motor vehicles. Many states have also enacted statutes that can be interpreted as mandating non-commercial social host liability. So, if a guest or third party is injured in an accident that is related to alcohol consumption and the drinking can be linked to you, you could be held responsible for the payment of medical bills, vehicle repair costs, lost time from work and - in the worst case - claims for wrongful death which may result in very large monetary settlements.

Do Your Homework

Mix Up the Activities, Not Just the Cocktails

When hosting a holiday party, individuals should look to the liability portion of their homeowners or renters insurance policy to protect them if they are sued and found liable for an accident involving a guest who drank or got sick after consuming food at their home. Consumers should regularly review their liability coverage limits to ensure they are adequately covered should an accident or illness occur.

If the party centers around drinking, guests will likely drink more. Schedule entertainment or activities that do not involve alcohol. Provide safe filling food for guests and alternative non-alcoholic beverages.

Watch What You Eat and Feed Others Even if food was prepared outside your home by a caterer, another guest, a local deli or the neighborhood pizza joint, YOU could be held liable if someone becomes ill from consuming it on your 14

Party Elsewhere, Call a Cab or Have a Slumber Party Host your party at a restaurant or bar that has a liquor license, rather than in a home or office to decrease your liability. Arrange transportation or overnight accommodations for those who cannot or should not drive home.

Just Say No Do not serve guests who are visibly intoxicated. Stop serving alcohol at least one hour before the party is scheduled to end. Stay The Tennessee Insuror

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alert and always remember your responsibilities as a host. You might also consider hiring an off-duty police officer or professional bouncer to discreetly monitor guestsâ&#x20AC;&#x2122; sobriety or handle any alcohol-related problems as guests leave.

Consider an Umbrella Policy While holiday partygoers and hosts alike should act responsibly and know their limits, consumers need to acknowledge that most risks cannot be entirely eliminated. But planning ahead and learning about whatâ&#x20AC;&#x2122;s involved in hosting a reception is the best defense. Purchasing a personal â&#x20AC;&#x153;umbrellaâ&#x20AC;? liability policy - providing $1 million or more in additional coverage over the limit of a standard homeowners or renters policy - may be a prudent move for the frequent party host.

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1-Based on a study completed by International Communications Research (ICR), an independent research company in Media, Pa. Interviews of a nationally representative sample of 760 homeowners were conducted in November and December 2012. More information about ICR can be obtained at http://www.icrsurvey.com. 2-Per TCA Â§ 57-10-101. Legislative findings; proximate cause

About the Author Daniel Smith serves as the Director of Communications for Insurors of Tennessee. He has a Bachelors degree in Marketing with a minor in Graphic Design from the University of Tennessee at Chattanooga. He may be contacted at dsmith@insurors.org. u

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introducing exceptional Berkley Southeast Insurance Group is committed to working with young independent agents of Tennessee. They are the future of our business. BSIG recognizes the need to mentor the growth of new talent and to perpetuate the Independent Agency System as well as provide young agents a competitive advantage. That’s why we are working together for success with Tennessee’s Young Agents.

congratulations exceptional agents Aaron Jensen Leslie Frazier Justin Baxter Adam Reeves Brandon Patterson Chad Snider David Evans Emory Martin Garrett Flannery Hank Coppedge Jamie Williams Jared Smith John Fritts Josh Witt Kevin Ownby Matt Spellings Melissa Wilder Mike Thomas Robert Harris Tyler King Will Dodson Michael Novarese Jeremy Stiltner Jason Stiltner Stacy Woodard Jared Garrett Will Webb

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berkleysig.com local people finding practical solutions The Tennessee Insuror

Future Leaders Spotlight

presented by

Stuart Oakes • TIS Insurance Services - Knoxville In addition to being the incoming Young Agent Chair on the Board of Insurors, Stuart Oakes is a new father! He and his wife of three years, Mary Bailey, just welcomed their first child, James Carmichael Oakes, on October 3rd of this year. A Knoxville native, Stuart is very involved in his community, serving on the Advisory Board of the Boys and Girls Club of the Tennessee Valley for the last four years. He also started an event for the group, called “Boys Night Out,” and currently serves as chair. He is currently serving a three year term as a Chancellor’s Associate for the University of Tennessee, and recently began serving on the Executive Committee of the Friends of Tennessee Babies with Special Needs. He is an alumni, former coach and supporter of Knox Youth Sports. He and his family are active members of St. John’s Episcopal Church in Knoxville. Stuart Oakes of TIS Insurance Services

The Insuror: Can you tell us a little about your current job title and responsibilities? Stuart: I joined TIS in 2007 and joined our Construction team in 2008. My primary responsibility as an agent/producer is to obtain and retain commercial construction clients for our agency. Our Construction Division is made up of 14 team members, and I am responsible for the operations of our team.

The Insuror: What can you tell us about your educational background? Stuart: I graduated from Knoxville West in 2002 and then attended the University of Georgia for one year. I spent the next three years at the University of Tennessee. I spent most of my college career preparing to enter Med School, but after graduating I decided to go into the insurance industry and started at TIS shortly thereafter.

The Insuror: How and why did you get started in insurance? Stuart: I guess you could say it’s “in my blood,” as I am the 4th The Tennessee Insuror

generation of our family to make a career in insurance. Upon graduating, and reviewing my options, I decided I wanted to join the agency. It is a great way to serve and build lifelong relationships.

The Insuror: Do you have any influences/role models in the industry? Stuart: I have been fortunate to work with and around a lot of great people in my time at TIS. My father, Bunny Oakes, founded our Construction Division in 1991 and he has certainly taught me a lot. He has a tremendous work ethic and personifies the meaning of “serving his clients.” Several others at TIS have been great role models including Bill Thomas, Ed Sims and Don Wake. I have also learned a great deal from many of the great underwriters and company folks that we have the pleasure of working with.

The Insuror: Is there any advice you could offer Young Agents or others in the industry to achieve success? Stuart: The biggest advice I could offer is to work hard and don’t get discouraged. There is no doubt that there are a lot of challenges that face new/young agents. Often times it takes 2, 3, 4 years or more to establish yourself as a successful producer. Stay the course and continue to focus on serving your clients and you will be successful.

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? Stuart: The key word in this question is “relationships.” Being at a large agency, we obviously have a lot of great partners. I have found that my biggest successes have come with the people that I have developed strong trusting relationships. I recommend taking the time to determine who your key partners are and focus your energy on cultivating those relationships.

The Insuror: Thank you for giving us your time Stuart, we appreciate it and wish you continued success in your career. Stuart: Thank you to Insurors of Tennessee. I am very excited to serve on the Board and help continue the success of the Young Agents, as many others before me have done. u 19

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The Tennessee Insuror

From Your President The Season Finale

The “Season Finale” is finally here… Well, after a great twelve month run, my season finale is here. It is hard to believe that a year goes by so fast! What a great year it has been. It is my extreme pleasure to have served as President of the Board of Directors for the Insurors of Tennessee. I have enjoyed every single minute of it. It is such an honor to have been allowed the opportunity to lead the Association that has meant so much to me for almost 30 years! The best part of serving as your president has been the chance to travel the state and meet fellow members. The Memphis Christmas luncheon to start my term off, the Nashville golf outing, the Dyersburg pork chop, even my own hometown of Knoxville’s golf outing. What an absolutely great group of members we have across this state. I know one thing, I was able to bring a little rain into everyone’s life as we attended all the golf outings this year - sorry about that! I hope you think that we have ended the year with the Association in a slightly better position than when we began the year. I know we have had a lot of fun this year, but we have accomplished a lot too. It was an extremely busy legislative season this year and Chuck and Ashely stayed on top of the good, the bad and the ugly on The Hill. The Association offered a variety of education opportunities for everyone’s taste from online CE to in person National Alliance classes. We offered the, yes we can now say it, 1st ANNUAL Agency Growth Conference in Murfreesboro this year, which was a huge success that I would encourage you to check out the next edition on March 10-11, 2015. The Tennessee Insuror

We also continued our Trusted Choice advertising partnership with the Tennessee Titans, and we were able to add print along with the radio ads this year. The back page of the Titans Yearbook shared the Trusted Choice message with thousands of Tennessee consumers. The Tennessee Insuror magazine has continued to grow and improve in both content and ads. And lastly, but by no means least, our Annual Convention was a huge success this year. In fact, it was actually the largest convention this century for our Association in terms of number of attendees, and we also had the most exhibitors in our 122 year history. Whew, that barely scratches the surface of all that the Insurors of Tennessee does in 12 months. I could go for days. I hope you realize what an amazing Association we have. I have known for a while what a fabulous job Chuck and the staff does, but until you interact in a weekly or daily basis, you really don’t realize how lucky we are to have Chuck, Ashley, Daniel, David, Colleen, Laura, Stephen and Don watching over and protecting our Association. If you get a chance, the next time you call the Association to ask a question or make a reservation for one of the outstanding seminars or education opportunities, please take a minute and join me in saying THANK YOU!

“W h a t a n absolutely great group of members we have across this s t ate.”

And I also want say thank you to my fellow Insurors members for the opportunity to serve. I know 2015 will even be better with the very capable leadership of Cindi Gresham as your next Insurors of Tennessee President. So continue to tune in… you never know what next year’s season will bring! Thanks again and I hope to keep seeing you for years to come! u

Lou Moran III 21

INSIDE A PERSONAL UNDERWRITER’S HEAD

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From Your State National Director Are You Poised for the Future? Many of you who attended this year’s Insurors convention in Nashville (our largest attended event since 2000) commented to me on the impact of the speech given by Tom Minkler, the immediate Past Chairman of Big “I”. Tom spoke about a couple of things that I would like to recap for your consideration. He spoke at great length on the need and the impact of Trusted Choice, and the successes we are seeing. While I have written about this often in this column, it is always good to hear it from the man whom we consider to be the “Father” of the modern day Trusted Choice co-branding efforts. Tom gave birth and breath along the way to Project CAP. Project CAP is the effort to bring comparative rating on the web to the consumer for the benefit of all Big “I” members/Trusted Choice agents. Not only did it do that but it helped bring many agencies into the digital media sales era. That site has now been live for several months and indeed has grown with the addition of Commercial Lines leads and well as Personal Lines leads. That total effort now comes under the brand name of TrustedChoice.com to tie it together and assist with the co-branding efforts. If you have not been to TrustedChoice.com to check it out you should do so soon.

Free to Do What’s Right For You Along that line, the “Freedom Campaign” is an advertising campaign undertaken by Trusted Choice to help the consumer grasp who “independent agents and brokers” really are. It is built to help distinguish between captive agents and independent agents. Research shows that consumers have confusion in this area and many people do not understand that we as independent agents are FREE TO DO WHAT’S RIGHT FOR YOU. That’s what the advertising campaign message is – that we are not tied to one company and have the freedom to be the trusted advisor and provide choices that agents working for captives cannot offer. Go to www.TrustedChoice. com/agents and sign in using your Big “I” login and you will have the opportunity to watch the available commercials, videos, and see the print ads that are available to you. I think it is really good stuff and I believe you will as well. The Tennessee Insuror

Preparing for the Future There was another area that Tom spoke on that I think really hit the mark with many of us in the audience. Close to two-thirds of us currently in the agency business will be retired in 10 to 15 years. Think about us Boomers and look at who is coming in behind us! It is alarming when you realize how poor a job we are doing in our efforts to attract young people into our industry. This has been a failure of ours as agency owners and leaders and also by our insurance company partners – who by the way struggle in this area just as we do. So what is the answer? Gaining the full grasp of the issues has to be step one. The Big “I” has included in our new Strategic Plan a working group to study Talent Recruitment and Development and help lead us in ways to remedy this vitally important issue. How do we attract and retain today’s young working force? What is it about what we do that should attract folks into our industry? Certainly part of the problem is in whom we hire and how we pay them. Today’s young working force are different than we were 35 years ago and those before us. Recognizing those differences is certainly key in building a plan of attack. Recent studies I have seen challenge what we have been doing and clearly show that we have not as an industry been successful in this area. Many large agencies have the resources to offer guaranteed compensation and can better afford the time needed to cultivate and train young workers. Medium and smaller agencies often need to see more immediate returns on the investment and often are challenged to provide the funding for the guaranteed compensation that today’s work force is demanding. While we must hire young sales people that will be comfortable with a commission based income, we can’t expect them to move in with their parents while they build a book! So whether you desire to hire from the college grad class, find a salesman from outside the insurance business, or try to convert a captive agent to the “bright” side – all of it takes a plan and resources. For some the plan is where we fail, for others it

“Close to twothirds of us in the agenc y business will be retired in 10 to 15 years.”

Brad V. Smith 23

WLVH

may be the resources that get in the way. But as Tom told us in October – we must do something and we must begin to do it very soon. Your state and national associations are both working extremely hard to grasp this issue and then to be part of the solution. Our company partners are as well and I fully expect they will need to be part of the solution. There are so few business models where a young person can have unlimited income based on performance. There are even fewer business models that allow a young person to become part of the community they serve and provide the help needed when catastrophe strikes. And there are certainly many areas of our business that should be attracting young people besides the sales side of the business. Most all insurance agencies that I am aware of offer better pay, better hours, and much better benefits than most doctor, lawyer, stock broker or real estate offices. Poll your friends in those type offices and compare the benefits packages and I think you will find that to be accurate. We are in such a unique business and it is a shame we have not been able to tell our story effectively. Join with me in being aware of this vital issue. Join with me in using TrustedChoice.com and the Freedom Campaign ads. Join with me to make our industry the best place for young adults to engage in building a quality living while serving others. I know our industry and our role as independent agents is an important one, let’s help others realize it too. u

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The Tennessee Insuror

From Your CEO What’s The Plan??

Summer has turned into Fall and the 4th Quarter of the year is upon us. What are you doing in terms of planning for 2015 and beyond? Recently, I attended the IIABA Leadership Conference where the national association unveiled their Long Term Strategic Plan. In this article, I’ll take a look at some of those plans. See if any of these strategies fit your plans for the coming year(s).

Aggregators, Alliances, Franchises & Clusters Nearly 39% of agencies now belong to some sort of affiliate group. That percentage has doubled in the last nine years. The reasons for joining these groups center on either market access or market consolidation to leverage for additional compensation. This trend has been partially spawned by carriers in response to a low interest rate economy. The carriers have been forced to employ their capital in the risk bearing. To get more products to market, (insurance to consumers) they have developed a strategy to get to more agents faster through affiliate groups. IIABA began tracking the phenomena as early as 2008. A White Paper (Evolving Options for Insurance Agent & Broker Distribution) discussing the variations of these entities is available free of charge online at www.iiaba.net. In addition, an article by Howard Candage titled “What is An Aggregator?” is also online. These articles will provide education and assistance to members about their options. Currently, IIABA has two such market access programs - Big “I” Markets and Eagle Agency. Over 50% of Insurors members are signed up for Big “I” Markets. What is Insurors doing? We share common members with the major affiliate groups. To that end we have reached out to them to coordinate meetings or social events during our convention. This year both SecureRisk and Keystone have committed to particiThe Tennessee Insuror

pate. Just as we ask companies and brokers to participate, we are seeking these groups to be an integral part of our organization. We support them by meeting their members E&O requirements using the largest and most stable carrier in the state. We have had a market access program with Preferred Comp (now via Meadowbrook) for 16 years. The program remains open to all Insurors members with no volume requirements. For agencies who have sufficient volume company contracts can be acquired. Likewise with our affiliation with RLI and their Personal Umbrella Program. We have also begun discussions with our sister Big “I” states in how we can jointly assist members on market specific needs.

Talent Recruitment & Development To continue growth of any agency, investments must be made in human capital. Toward that end, IIABA is developing a National Recruitment Resource Center, in collaboration with the states, with the goal of recruiting people for careers in our business. Currently IIABA has Project InVEST, and the new initiative will be a vast expansion of that recruitment tool. In regards to screening candidates, Caliper’s employment aptitude tests are the industry standard and have long been an endorsed product of IIABA.

“To continue the growth of any agency, investments must be made in human capital.”

What is Insurors doing? We were very impressed by the turnout at our inaugural Agency Growth Conference this Spring. At that event, attendees

Chuck Bidek, CPCU 25

learned that not enough credit is given to the sales volume younger agents put on the books, increasing ultimate agency value. This is what the direct writing life insurance companies have known for years. We will continue and hopefully expand our ABEN network for online education to the agencies. We will continue to work with National Alliance (CIC, CISR, Ruble and CRM) to provide the courses to train agents. We are investigating a program that provides home based staff consisting of retired company and agency employees to work via internet on an as needed basis. It is also our goal to strengthen our relationship with the insurance program at MTSU and expand the program to provide agency focus.

Attracting New Customers Assuming you can get the product (markets) and have the staff to deliver (sell) it then logically you must find someone to sell it to. Referrals are always good and to a lesser extent data lists and prospect lists help. But neither avenue reaches wide audiences and neither tells the consumer about your agency. We hear that advertising is too expensive. Some companies have helped but few companies have developed national brands to support your efforts. Hence the development of the national brand Trusted Choice over 11 years ago. Beginning with aggregating money for consumer advertising to have a presence in the consumer advertising market, the program has morphed into an online search presence. If someone asked you the question, “What’s the weather for tomorrow?” how many of you would start by looking in the newspaper? It is a fact that consumers young and old (me) are going to their hand held smart phones and devices to seek information. Online search engines have opened answers to questions that would have required a public library visit a few years ago. An individual agent cannot maintain a sufficient web presence alone. Hence the need to doing things together via your Association. You likely have a website of your own, but reaching you that way is tough for many consumers. The Google user enters something to the effect of “boat insurance Savannah Tennessee” and most independent agencies are at the bottom of the returned search. What is Insurors doing? Participating in Trusted Choice is no longer a separate cost. It is part of the dues you submit to us each year that we pass on to IIABA on your behalf. In short you don’t “join Trusted Choice,” you are part of it as an Insurors member. Taking advantage of it is a different story. Go to TrustedChoice. com and find your agency. For $49 per month (payable to Trusted Choice) you can provide prospects with more information about your agency and receive preferred placement on the list that consumers see in their search results. Trusted Choice will continue to expand online inquires to Commercial Lines in addition to the Personal Lines platform that is already available. In the tech world, doubling two to three times a year 26

is normal on a product launch. TrustedChoice.com has done that since inception. However it must sustain that growth to attract consumer users and support from company partners. IIABA will seek to at least double the “hits” on Trusted Choice next year.

Young Agents With all the talk about the baby boomers and retirement, we sometimes forget that there are many professionals in this industry who are in the early stages of their careers. Our Young Agents program is still a vital issue for growth in our industry. Whether you are a new producer just out of college, or a principal in your agency who has been in the industry for over a decade, if you’re under 40 you’re still a Young Agent. And we want you to be involved in this program not only for the good of this industry, but for the good of this Association. What is Insurors doing? For 2015, we have put in place a committee of 5 Young Agents (1 from each region, the chair and the immediate past chair) who are committed to seeing this program grow. If you have Young Agents in your agency, or if you are one, I hope we’ll hear from you. I hope you’ll give these items some thought and let me know your feedback. We are an ever-changing industry and Insurors wants its members to be ahead of the curve. u

"32 25

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5/4-6

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6/17

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8/25-28 CRM

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ONLINE COURSES WEBCASTS (register and view dates at insurors.aben.tv)

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The Insurors of Tennessee offers education opportunities to member agents across a wide range of insurance specialities 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.

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

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

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Insurance Principles and Policies Long Term Care Workersâ&#x20AC;&#x2122; Compensation Employee Benefits for Small Companies Healthcare Reform and Affordable Care e-Coverage Fundamentals of Personal Auto Insurance

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

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Government and Legal Affairs Cyber Liability is A Reality For Small Business, Including Your Agency Written by Morgan Smith, IA Magazine Assistant Editor

It’s jumped from a specialty niche to a mainstream coverage in a matter of years. And cyber liability has no signs of slowing down. “If an agent isn’t suggesting cyber insurance to their customers, talking to them about their cyber exposures or somewhat knowledgeable about the various product offerings that exist in the market, they’re doing their customer a disservice—and ultimately themselves a disservice,” says Tim Francis, enterprise cyber leader at Travelers. Recent headline-worthy mega breaches and the month of October’s status as “Cyber Security Awareness Month” have helped raise awareness about cyber security, but independent agents and their business clients still have some catching up to do. Because cyber liability coverage is still relatively new in the insurance marketplace, a layer of naïveté and denial remains about its necessity—and experts say that needs to change.

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Small Means Susceptible Independent insurance agencies and their small business clients have an obligation to protect collected personally identifiable data. But for many, having the infrastructure in place to deal with a breach is unlikely. Francis explains that small companies are every bit as vulnerable as the big dogs—and perhaps even more so due to the lack of resources and staff that are necessary to protect against a breach in the first place. “Cyber events can have a significant impact on the bottom line and a significant impact on the reputation,” Francis says. “That’s as true of a small company as it is of a big company and everyone in between.” “It’s important to have an appropriate cyber product, not just to protect financially, but also to help respond to such an event,” adds Jeff Norton, private enterprise product head at Beazley. “Mismanaging a breach can be far worse for insurers than the event itself.” Data from New Agency Partners proves it: While 31% of all cyber attacks occur at companies with fewer than 250 employ-

ees, 60% of small businesses will shut down after an attack—a sobering statistic considering 40% of small businesses do not have a contingency plan in place.

Understanding Cyber Whether you’re a seasoned expert or a cyber newbie, the first step for agents is to identify what exposures are present and to form a working knowledge about why exposures exist. “Whether they are a data owner, in that the consumer believes that that business has their information, or whether they’re a data processor, and they’re just processing someone’s information on behalf of someone else, each one has different exposure,” Norton explains. Understanding common data compromise threats and staying aware of available coverage products are crucial steps for agents just warming up to the conversation about cyber. Begin by taking these basic preventative steps: 1. Look at the data you take in. Ask yourself if it’s necessary and where it’s located. 2. Review potential security issues that can be implemented to protect that data, such as updating company policies and procedures around cyber. 3. Think about data in the context of what would happen if a breach were to occur. Develop a plan to respond in a timely, effective manner. Complete a test run.

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Your agency should consider purchasing cyber coverage for E&O purposes. Reviewing proposals and understanding which coverage responds in what way is applicable to selling the coverage to their own clients. “It’s very difficult to sell a product if you don’t buy it yourself,” says Norton, who notes that cyber liability “should be considered a core line of someone’s insurance portfolio.” Sabrena Sally, senior vice president at Swiss Re Corporate Solutions, asks the ultimate question for independent agents who juggle multiple markets, “How does someone become a specialist when they almost have to be a generalist in everything?” Sally’s advice is to start by focusing on the resources you currently have—educating yourself about the cyber coverage available through the carriers you already work with. The bottom line? Cyber liability coverage for your agency and your small business customers is worth it. “While for your own agency’s E&O, you may buy an E&O policy that includes some cyber liability coverage, it’s likely not to the extent that you would need it,” Sally says. “There’s still a need for the standalone policy.” About the Author Morgan Smith is an Assistant Editor for IIABA, working on the IA magazine. She has a Bachelor of Arts degree in Journalism from Indiana University Bloomington. u

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Association Update

Sorrow to Head BB&T in Chattanooga

association lobbyists on the Federal level in Washington, D.C.

John W. Sorrow, formerly the head of Cigna health insurance in Chattanooga, has been named as the new chief agency executive for BB&T Huffaker Insurance. The agency, which is Chattanooga’s oldest and largest, announced Sorrow as the successor to Roger Smith and Bill Wilder. Smith is retiring at the end of 2014 after 33 years of service. Wilder is remaining with the agency as an an agent.

Bob and the Big “I” government affairs team have been recognized for several years as one of the top lobbying operations in the country. Bob also continues to earn accolades and to be recognized as one of the top association CEOs. The Big “I” was one of only three property-casualty insurance associations named this year and was the only insurance agent/broker group on the list.

Sorrow will oversee about 85 employees in offices across the state. He has more than 24 years of leadership experience in the insurance industry, including his most recent position as corporate vice president for Magellan Health Services. Sorrow earned a bachelor of business administration degree in risk management insurance from the University of Georgia and 7.5X4.625 an MBA from the University of Tennessee at Chattanooga.

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Broker Spotlight

Big â&#x20AC;&#x153; Iâ&#x20AC;?

Big â&#x20AC;&#x153;Iâ&#x20AC;? Employee Benefits Did you know that as an Insurors member, you have access to benefits programs for you, your clients and your employees through Big â&#x20AC;&#x153;Iâ&#x20AC;? Employee Benefits?

Group Long Term Disability Choices

EMPLOYEE BENEFITS Group Term Life Insurance Three plan options offer you and your employees affordable term life insurance. You may select the employees you wish to cover. Choose from three different benefit selections:

Protect your ability to earn a living. Choose from three plan alternatives to fit your individual needs. This protection offers you up to $10,000 per month income benefit, optional cost of living benefit and family protection, special benefits for residual disability, your choice of waiting periods and waiver of premium.

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Group Short Term Disability Choices

Basic and enhanced dental plans are also available, as well as other programs. For more information about these important employee benefits programs, e-mail Christine Munoz, IIABA director of employee benefits, at christine.munoz@iiaba.net or call her at 1.800.848.4401. You may also view more information and/or download forms by visiting http://www.independentagent.com/Products/Insurance/EmployeeBenefits/ Pages/home.aspx. u

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Company Spotlight

Encompass Insurance At Encompass, the focus is on personal insurance protection. The company provides a simpler insurance experience by offering protection for their policyholders’ homes, autos, power sports, jewelry, valuable collections and more. Encompass is for policyholders who value and need unique protection. They achieve this through the Encompass OneSM package policy, which comes with unparalleled customer service and superior hassle-free claim service. Encompass Insurance Company is a national company with a local focus, serving the protection needs of policyholders countrywide. Their policies are available through an exclusive group of independent agencies. They know there’s no shortage of insurance companies competing for your business, so they’re serious about doing right by agencies and their customers.

Protection and Security In 1897, the company that would become Encompass began selling personal insurance backed by a clear, simple promise: “Protection and Security.” Today, well over a century later, it’s still a foundation of their business. The simple truth is that customers depend on Encompass to protect the things that mean the most to them. Their commitment to exceptional service comes through loud and clear in Encompass Insurance policyholder reviews. Plus, it is rated A+® Superior by A.M. Best. Encompass invests heavily in quoting and servicing technology to make insurance easier for agencies as well as customers. In addition, it offers 24-hour customer service that extends your agency’s office hours. And with one of the best claims service divisions in the entire insurance industry, you can be sure that Encompass will be there for you and your cliThe Tennessee Insuror

ents when you need them the most.

The Encompass OneSM Policy The Encompass OneSM Policy offers three levels of coverage: Special, Deluxe and Elite. They provide homeowners and auto insurance and can even protect policyholders’ home-based businesses, living expenses, collectibles and more. Elite - features the highest coverage levels, most features and most robust coverage. Deluxe - includes replacement cost on personal property and other enhanced coverages and features. Special - includes coverage limits and features that you may not find in other policies. And with the one premium, one annual renewal date, one deductible and one agent — known as the Encompass Power of One — policyholders enjoy a simpler, more convenient insurance experience with valuable discounts.

Additional Coverages Encompass also protects thousands of customers with motorcycle insurance coverage, boat insurance coverage, RV insurance coverage, renters insurance coverage, home business insurance coverage, identity theft insurance coverage, personal liability insurance coverage— as well as personal umbrella coverage that can help protect you up to $5 million for each occurrence.

Contact Encompass Today Get more information about Encompass Insurance today. Contact Territory Sales Consultant Monica Scott at 615.585.6306 or e-mail her at monica.scott@encompassins.com. u

Tennessee Contacts Monica Scott Territory Sales Consultant Monica.scott@encompassins.com 615.585.6306 Linda Ferrante Regional Sales Manager Linda.ferrante@encompassins.com 803.606.9428 Leadership Team Thomas Ealy President Dan Maloney Vice President, Sales and Marketing Sharon Dean Vice President, Product Operations Karen Schecht Vice President, Claims Company Headquarters Encompass Insurance 2775 Sanders Road, Suite C1 Northbrook, IL 60062-6127 About Encompass More than 1,600 independent agencies sell Encompass’s signature package policy and other personal insurance products to consumers with broad protection needs. Part of the Allstate group of companies, Encompass is one of the only national insurers distributing exclusively through independent agents to provide personal insurance protection. Encompass is rated A+ ® Superior by A.M. Best. More information can be found at www.encompassinsurance.com. 39

Bringing the Best Together IN TENNESSEE Partner with the best and distance yourself from the competition.

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Walt Bradshaw Bradshaw & Company Insurors

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40 Thefranchise Tennessee Insuror ©2014 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 is not registered.

Looking Back

a past president spotlight presented by

Walt Bradshaw • Bradshaw & Co. Insurors • Insurors President in 2009 Walt Bradshaw of Bradshaw & Co. Insurors

Walt is the owner and principal agent at Bradshaw & Company Insurors in Dyersburg. His family started the agency in 1965 and has run it ever since.

The Insuror: It’s been five years since you were President of Insurors, any reflections on your time in office you could share with us? Walt: What always sticks with me is all the people I made contact with and got to know during my presidency. The connections I made on the Board and with my fellow agents throughout the State have been very valuable to me. We traveled to many meetings and events and got to talk with a lot of agents, and I was pleasantly surprised at how many good folks there are in our industry.

The Insuror: How has the Association, and to a greater extent the industry, changed over your career? Walt: Although there have been changes, the basics are still the same. For the Association, it’s still all about serving the members, especially through education and government affairs. So in that sense it hasn’t changed, but the method of delivery is definitely different. I use the website now almost every week, and we have digital versions of almost all our publications and education. There is just so much data and resources available to our members. As far as the industry, I would say the same thing. It’s still about relationship building and service, but the technology and automation have certainly changed the process. That has led to an increase in the speed with which we have to do business, but the principles are still the same ones we’ve always had.

The Insuror: You are truly part of a “family business.” How important is it to you to maintain that legacy? Walt: It’s very important to me. My parents started the agency and secured the future for our family. Now it is my turn to continue it for my family, including my children - if they so desire - and my nephew who will be graduating college soon The Tennessee Insuror

and may want to enter the insurance business as well.

The Insuror: What role do you feel is most important for Insurors to play in supporting independent agents? Walt: To me it is education and government relations without a doubt. I have taken the education for granted in the past, but I took an early class from Chuck and ever since I have known that Insurors would be there when I needed CE or new information. I still know the Association provides it and it is critical to the success of independent agents. The government affairs is somewhat behind the scenes, but it is very important as well. I have often thought that the less we hear about concerns relating to legislation, the better the job that Chuck, Ashley and our staff are doing. We also have the benefit of being part of a national organization that has an excellent staff to watch insurance matters on the Federal level.

The Insuror: Is there a goal that independent agents as a community should be focused on for the future? Walt: We have to continue to show consumers that there is a different level of service and expertise provided by independent agents and their carriers. We are in this together in a lot of ways. If we don’t provide competitive advantages as a whole, then we will lose even more personal lines market share, and our hold on commercial lines may begin to slip as well. That hampers our companies’ ability to be successful, and in turn would hurt all independent agents. I think Insurors does a good job of giving us a sense of community as independent agents. Getting to know my peers and even competitors has helped me see the bigger picture.

The Insuror: And finally, what advice would you give other agents about building a successful insurance career such as your own? Walt: I would tell them that this business is all about relationships. Work on a daily basis with your carriers and customers to build relationships. Be involved in the community and be seen as having an interest in the community’s success. When customers and potential clients can get to know you and your values it plays a major role in your success as an agent. u 41

We get you. We understand what agents want and we’re committed to giving you the tools you need to grow your agency. Look into a partnership with us by calling today. Amy Mayes 352-384-4186 mayesa8@nationwide.com

AUTO • HOME • BUSINESS • POWERSPORTS

Allied products underwritten by Nationwide Mutual Insurance Company, AMCO Insurance Company, Allied Property & Casualty Insurance Company, Depositors Insurance Company, Nationwide Insurance Company of America, Nationwide Affinity Insurance Company of America, Nationwide Property and Casualty Insurance Company, Nationwide Mutual Fire Insurance Company, Nationwide Agribusiness Insurance Company, Home Office: Des Moines, IA. Harleysville products underwritten by Harleysville Lake States Insurance Company, Harleysville Preferred Insurance Company, Harleysville Worcester Insurance Company and Harleysville Insurance Company. Home Office: Harleysville, PA. Customers will be placed with one of the above companies based on your location and the product requested. Subject to underwriting guidelines, review and approval. Products and discounts not available to all persons in all states. Nationwide Insurance, the framemark and Harleysville are service marks of Nationwide Mutual Insurance Company. © 2014 Nationwide Mutual Insurance Company. ALO-0239AO (01/14) 42 The Tennessee Insuror

Company Briefs

Big “I” Announces Company Best Practices Awards The Big “I” recently presented insurance carriers Central Insurance Companies, EMC and Travelers with the prestigious Best Practices Award of Excellence. The awards recognize those companies that have made imaginative, outstanding and unique contributions in advocating Best Practices philosophies that enhance the independent agency system. The Big “I” Best Practices program, which was launched in 1993, provides performance benchmarks and business strategies that serve as a guide to improving agency performance.

Star Casualty Launches Galaxy Preferred Star Casualty Insurance has announced the launch of their new preferred, Private Passenger Automobile product called “Galaxy Preferred” and a Personal Umbrella product, in Tennessee. Star Casualty’s new preferred products are designed to offer a competitive solution for your preferred oriented customers that require increased limits such as $100/$300K or $250/$500K, and the additional protection of a Personal Umbrella policy (PUP). They have added many enhancements to the new product, offering more robust coverage’s than the current program today. Superior policy life expectancy plays a huge role in the pricing strategy. Star Casualty’s products are designed to offer long term retention, NOT an under-priced “blinking light” policy that will need to be rewritten after 6 months. Galaxy Preferred, with its robust coverage offering along with a new sophisticated insurance score model allows offers you a competitive, viable, long-term solution for a broad spectrum of your clients, from state minimum limits to the high BI limits.

Liberty Names Sellers as Southeast Manager Liberty Mutual Insurance’s National Accounts Property operation has appointed C. Wesley Sellers as Southeast division manager. Sellers, who is based in Atlanta, has 25 years of experience in the property insurance industry, most recently as vice president, Southeast property underwriting, XL Group. He also spent eight years at FM Global as a senior account manager in the Southeast. National Accounts Property provides single carrier, groundup, shared and layered, inland marine and equipment breakdown coverages. It offers large capacity – including the ability to issue local policies in more than 150 countries – and advanced property risk engineering. The Tennessee Insuror

RT Specialty Acquires Tennessee Underwriters Franklin-based Tennessee Underwriters, an excess and surplus broker in business since 1980, has been acquired by R-T Specialty. Terms of the deal to purchase the broker’s assets were not disclosed. R-T Specialty is a wholesale brokerage division of Ryan Specialty Group.

ACUITY Introduces Lead Generation Program

LOOKING FOR MARKETS? We Are Your Solution.

ACUITY recently announced the introduction of its Lead Generation program, designed to help independent agents grow their business in a competitive marketplace and strengthen their position against direct-writing companies. With ACUITY’s program, agents receive leads on prospects who have obtained an online quote for personal auto insurance through ACUITY. The Lead Generation program is unique compared to other companies’ online quote programs because ACUITY doesn’t compete with independent agents. Agents are paid full commission on any leads they write and retain full renewal rights on those accounts, no different than if the quote had originated in their office. Consumers can follow a link at acuity.com to obtain a personal auto quote, and independent agencies may also display a link to the quote service within their own websites. If consumers obtain a quote at acuity.com, they are provided a choice of local independent agencies to complete the application process. Once a selection is made, an email is sent to the chosen agency advising them of the lead. Quotes that begin at an agency’s website are automatically assigned to that agency.

Atlas General Announces New Work Comp Program with Torus Atlas General Insurance Services, LLC, a national multi-line program manager, today announced it has entered into a partnership with the global specialty insurer, Torus, to offer a new workers’ compensation program. The Atlas program will complement Torus’ current directly appointed producers and will be distinguished by premium and industry segment parameters. The program will be offered under Torus’ U.S. admitted company, Torus National Insurance Company (“TNIC”), which is rated “A-” (Excellent), by A.M. Best. Established to meet the needs of small to medium-sized accounts, the program will target a variety of classes including agriculture, short haul trucking, construction (under $100,000), healthcare and manufacturing, among others. Competitive features include attractive broker commissions and incentives, flexible payment plans including down payments and loss control services. Other benefits include ex44

The Atlas General Difference Atlas is a National Full Service Program Manager offering a wide range of insurance solutions. We are committed to providing exceptional service and have the expertise in developing and underwriting specialty programs with a variety of carrier partners to offer unique options for our clients. Products include: • Workers Compensation • Contractors' General Liability • Builder's Risk • Inland Marine • Professional Liability

• BOP • Monline Property Including Wind and Hail • EPLI • CPP

Now writing excess casualty, miscellaneous professional liability, new venture artisan contractors, hospitality, healthcare and auto service. For marketing information, please contact: Lowrey Young, Marketing Rep, 901-308-3387 lowrey@atlas.us.com To learn more about our products, call 844-827-3777 or visit atlas.us.com

The Tennessee Insuror

CNA IS PROUD TO SUPPORT THE INDEPENDENT INSURANCE AGENTS AND BROKERS OF TENNESSEE.

Construction • Education • Financial Institutions • Healthcare • Manufacturing Professional Services • Real Estate • Retail • Technology • Wholesale Distribution

With customized coverages, local industry knowledge and the strength and stability of an “A” rating by A.M. Best, when you’re looking for a carrier that can help you play an instrumental role in your customers’ business success … we can show you more.® For more information about our coverages, products and services, contact our local Nashville Branch at 615-886-3300, or visit www.cna.com. CNA is a registered trademark of CNA Financial Corporation. Copyright © 2014 CNA. All rights reserved.

The Tennessee Insuror

ceptional claims service provided by Sedgwick Claims Management Services, Inc.

J.M. Wilson’s Dey Named 2014 “Young Gun” J.M. Wilson is proud to announce that Erin Dey, Director of Sales and Agency Relations, was named an Insurance Business America (IBA) ‘Young Gun of 2014’. Erin was featured in the October issue of Insurance Business America as “one of the 40 best and brightest young stars making waves in the insurance industry.” IBA reached out to brokerages, agencies, insurers and others to compile the list of talented professionals. Erin joined J.M. Wilson in 2009 as a Property & Casualty underwriter. Two years later, she created her current position as Director of Sales and Agency Relations. She also writes and instructs continuing education courses, leads a sales development team and works to improve the company’s internal processes. Erin has served on the Michigan Professional Insurance Agents’ Young Insurance Professional committee since 2012.

Johnson & Johnson Promotes Addison to VP Johnson & Johnson, Inc. is pleased to announce the promo-

tion of Lewis Addison to Vice President of Software Development. He will be responsible for the software development team and its products. Lewis will be an integral part in our strategic plan and how we build our systems so we can flawlessly attain our goals. He has served J&J as the Manager of Software Development for the past 8 years.

TCIP Announces New Officers and Awards The Tennessee Council of Insurance Professionals recently hosted their 27th annual conference meeting in Lebanon, TN and elected their 2015-2016 officers: Council Director Elect - Vickie Harmon, Vice President & CFO of the Bailey Special Risks of Hendersonville and Nashville Insurance Professionals Public Relations Officer – Carrie Lee, Commercial Lines Account Manager of Price & Ramey of Johnson City and Johnson City Insurance Professionals Membership Officer – Annie Lee Dearing, Administrative As-

For Comprehensive Mobile Homeowners Insurance, put your trust in a company that has been insuring homes for over 50 years. National Security Can Provide You With: • • • • • • • •

$100,000 Maximum Policy Limits AAIS Special Form 3 Policy 15% New & Renewal Commission Partnership Profit Sharing Fast Online Policy Issuance Direct Contract with National Security Replacement Cost Option Discounts for New Home and 50+ Age of Insured • Easy Payment Options National Security has provided competitive, affordable insurance to policyholders for over 50 years, but we also provide a lot for our agents, with competitive commissions, excellent customer service and experienced company adjusters. As an admitted Southeastern based regional company, National Security prides itself on fast, efficient service from a friendly small town company, and online access for all agents, providing fast quotes, online policy issuance, online dec page printing, and real-time policy information.

We are now accepting new appointments. Find out more by calling Sharon at 1-800-239-2358 x213 or visit nationalsecuritygroup.com.

Elba, Alabama

The Tennessee Insuror

sistant of Rentenbach A Christman Company of Memphis and Insurance Professionals of Memphis Treasurer – Kay Simmons, Commercial Lines Marketing Specialist of BB& T-KDC Insurance Services of Kingsport and Insurance Professionals of Kingsport The group also announced the following award winners: Tennessee Council Insurance Professional of the Year – Lisa King, AINS, AIS, PIAM, CIIP of Great West Casualty Company Tennessee Distinguished Service Award – Vickie Harmon, CMA, CIIP Tennessee Confidence While Communicating – Lisa King, AINS, AIS, PIAM, CIIP.

InVEST Adds Vertafore’s Winterburn to Board InVEST, the insurance industry’s premier classroom-to-career education program, has announced that Bruce Winterburn has joined its national board. Winterburn is Vertafore vice president of industry relations. Winterburn is responsible for industry relations for Vertafore in the United States and London. “I am thrilled about the opportunity to help support such a worthy effort,” says Winterburn. “Exciting and educating young people about the vast opportunities afforded by our industry is not only important to Vertafore, but is a cause that is important to perpetuation of the industry.”

Delta Dental CEO Wenk Receives Accolades

Smart Choice Names Caldwell New President

Dr. Phil Wenk, president and CEO of Delta Dental of Tennessee, was recently named by the Nashville Business Journal as one of Middle Tennessee’s Health Care Heroes. Dr. Wenk was also named as a recipient of President’s Council Service Award from University of Tennessee President Joe DiPietro. Wenk has led Delta Dental to be recognized by the Nashville Business Journal as one of the 25 fastest growing companies in Middle Tennessee in 2008 and 2010, and “Best In Business” in 2007.

Smart Choice has announced that Andrew Caldwell was named President of Worldwide Insurance Network, Inc. dba Smart Choice, on Friday, November 14, 2014. Since Caldwell’s start with the company in 2003, he has served in the positions of Director of Commission Accounting, Account Director, and Vice President, but most recently as the Executive Vice President of Business Development since January 2012. In this position he assisted in expanding and growing the Smart Choice® Agents Program, as well as supervised the Smart Start initiative while acting as a liaison between the accounting and sales departments. u

COMMITMENT A PROMISE WE DON’T TAKE LIGHTLY “With 37 years in the bond business, I know our response time can be the difference between our agent writing a new piece of business or not. I don’t go home at night until every phone call and email has been answered. ”

Steve Kuykendall Surety Manager

800.538.4796

jmwilson.com

Managing General Agency Since 1920 Property/Casualty • Professional Liability • Commercial Transportation • Surety • Personal Lines • Premium Finance The Tennessee Insuror

Agency E&O Coverage From Your Appointed Carrier - Good Idea?

Are the Long-Term Implications Risky Business?

Where to place your E&O coverage is one of the most important decisions an agency makes. The protection offered by an E&O policy can be the difference between the agency’s long-term prosperity or financial ruin. In today’s marketplace, agents have many options of where to purchase their E&O coverage. For some agencies, one of those options may include purchasing E&O coverage directly from one of their appointed carriers. These carriers constantly solicit their appointed agents, enticing them with exclusive perks for placing their E&O coverage such as points towards carrier incentive plans, reductions in deductibles for E&O claims involving placements with the appointed carrier and E&O premiums credited towards overall production. At face value it seems like a good deal since you’ve had a great, long-term relationship and have placed hundreds of customers with the appointed carrier. You trust them for your customers, they are highly rated and they a have a great reputation for paying claims. But serving your customers and defending your agency from E&O claims are two very separate and distinct things. The line of what is best for the agency and best for the customer becomes blurred and the two aren’t always the same. And what is best for the carrier and best for you may not be same either. It’s seldom spoken of when this happens, but it’s always lurking in the background and it’s called “conflict of interest.” Here are some things to consider when evaluating placing your E&O coverage with a carrier you are directly appointed with and place retail business:

Agent vs. Direct On a daily basis the Big “I” promotes the value insurance agents bring to their customers and helps position agents to compete against the direct writers of the world. You 48

by David Hulcher, AVP, Big “I” Advantage

know the value you add to customers, so don’t you want the benefit of an agent working on your behalf? Professional liability can be tricky and just because you know the coverage needs of your customers doesn’t necessarily translate to knowing the marketplace for agents E&O. Big “I” state associations work closely with you to service your E&O needs.

Damaging Carrier Relationships The intrinsic value of agencies is their book of business and carrier appointments. You would hate for a disagreement on the handling of an E&O claim to strain the relationship with an important carrier and hamper the long-term accessibility of the market to serve customers.

Sharing Application Data E&O applications contain a large amount of sensitive information used to underwrite agencies including: premiums written by line of business, revenue, staff count, appointed carriers, and descriptions of office procedures. Some may even ask for a business plan. Will the E&O department of your appointed carrier keep this confidential or is it shared with other retail lines of business? I would hope that the information in the E&O application is guaranteed confidential and not shared with other units of the carrier. Do you really want to chance it? Can you image the carrier’s field marketing representative hounding you for more business because of inside information? A ‘separation of church and state’ is important in this case.

Rising Carrier Against Agents

Claims

E&O claims data revealing where claims are coming from and who is causing them generally doesn’t change a whole lot from The Tennessee Insuror

year-to-year. There are micro-trends that are identified from time to time that help in developing targeted risk management materials. But the one VERY clear trend revealed in claims data over the past ten years is an increase in carriers suing agents for mistakes that result in damages to the carrier.

Conflict of Interest The claims by carrier’s against agents also reveals something else: once the carrier believes the agent is responsible for the E&O claim, all those years of a pleasant and profitable business relationship are quickly forgotten. The carrier only has one purpose in mind, making the agent pay the claim. So, if your E&O is with that same carrier, there is an immediate conflict of interest because under the E&O contract, their sole duty is to defend the agency. But if they are also trying to lay blame on you, how can they in good conscience also defend you? It’s kind of mind-bending to think about, but what kind of defense are you going to get if the carrier is defending you from itself?

Protecting Your Agency’s E&O Claims History So many potential E&O incidents involve “he said, she said” accounts of the event involving an uncovered customer claim. What happens when the potential E&O incident occurs on a customer written with the appointed carrier? You know that you didn’t make a mistake and the customer may be mis-

representing facts seeking to secure payment from your E&O policy. The appointed E&O carrier must make the decision to defend the agent or pay the retail customer’s underlying claim to appease them. Maybe they just decide to pay the loss as an E&O claim under your account because it is less expensive than defending it, taking advantage of your deductible and justifying potential future increases in your premiums. This will show up on the agent’s loss history and have a negative impact on your ability to shop your E&O coverage in the future. You have a choice on where you place your E&O coverage and these are just a few things to consider when making this very important decision. It seems safe and convenient to place coverage with an appointed carrier that you place retail business with, but at the end of the day is the potential risk really worth it? There are long-term, stable programs focusing strictly on the agents E&O class of business with an agency force specializing in serving agents, so why not minimize potential conflicts of interest before they may develop? About the Author David Hulcher is the Assistant Vice President of Agency Professional Liability Risk Management for Big “I” Advantage, Inc. He has a Bachelor of Science degree in Finance from Virginia Tech and has worked for IIABA for over seventeen years. You may contact him at David.Hulcher@iiaba.net. u

Retention Strategy

#12

LIFE INSURANCE SALES

“ A life insurance sale can make a customer for life.” Lora Buske, EMC National Life Life Sales Representative

The more coverages clients have with you, the less likely they are to switch agents. EMC National Life is committed to making life sales simple with easy-to-understand products and online services to speed the sales process. It’s just one of the many reasons policyholders Count on EMC®.

Birmingham Branch: 800.239.2005

Home Office: Des Moines, IA

The Tennessee Insuror

7798_EMC_Tenn_Insurors_Ret12_Lora_7.5x4.75.indd 1

7/11/13 4:15 PM

Building Success

Mid South Mutual provides Workersâ&#x20AC;&#x2122; Compensation to Home Building, Commercial Trade Contractors and related industries in Tennessee.

Examples of clients we serve include: HVAC Contractors

Bricklayers

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Contact Wendy Cox-Vetitoe at Wendy.Cox-Vetitoe@bwood.com or 615-263-1763 50

Administered by Brentwood Services Administrators, Inc. Proudly serving the members of the Home Builders Association of Tennessee since 1995.

The Tennessee Insuror

Meetings

Winter Meeting Schedule is Heating Up Insurors of Chattanooga Christmas Luncheon Set for 12/12 The Insurors of Chattanooga local board will host an insurance industry Christmas luncheon on Friday, December 12th at Noon EST in the Mountain View Room at the Broad Street Grille inside The Chattanoogan Hotel. Special guests will be Dex and Mo from radio station US101. They will be on hand to accept a donation for the group to the Forgotten Child Fund, The fund provides toys and gifts to underprivileged children in the Chattanooga area who may not otherwise receive anything for Christmas. RSVP for the event or get more information by contacting Brenda Garrett at Flegal Insurance by calling 706.866.9750 or e-mailing her at brendagarrett@flegalinsurance.com.

Memphis Local Board Luncheon to be Held December 18th The Memphis local board has announced that their December luncheon will take place on Thursday, December 18th at 11:45 CST at Holiday Inn University of Memphis (on Central). The luncheon will feature Insurors of Tennessee President-elect Cindi Gresham, CIC as special guest speaker. New local board officers will also be inducted.

YOUR FIT FOR WORKERS’ COMP AND MORE! Preferred Comp of Tennessee is endorsed by the Insurors of Tennessee (IOT) to provide member agencies competitive workers’ compensation options. Meadowbrook Insurance Group, Inc. Low to Moderate Hazard Workers’ Compensation

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Artisan Contractors Auto Repair & Service Goods & Services Hospitality Light Contracting Light Manufacturing Office/Clerical Physicians Restaurants Wholesale/Retail

2015 Big “I” Winter Meeting The Big “I” Winter Meeting will take place January 21-25, 2015 at the Westin Mission Hills Golf Resort & Spa in Rancho Mirage, California. This event includes the Big “I” Winter Board Meeting, Council for Best Practices, InVEST Board, Trusted Choice Idea Exchange, Chairman’s Cup Golf Tournament and various committee meetings. The goal of the meeting is to plan strategy for 2015 in legislative, industry and Association matters. Get more information on the event, view the full schedule and details or register online now by visiting http://www. independentagent.com/Events/WinterBoardMeeting/home. aspx u The Tennessee Insuror

For more information or to get started, please contact: HeidiZdanis Langella at (800) 755-8090Ext. x4363 Laurie at (800) 755-8090 4362 or email a submission to: preferred@meadowbrook.com

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Stopping â&#x20AC;&#x153;Typosquattersâ&#x20AC;?

Coverage Highlights:

Â&#x2026; Bicycle Physical Damage: primary coverage for the cost to repair or replace the cycle (including ďŹ xedBig accessories and components) up to the By Joseph Doherty, â&#x20AC;&#x153;Iâ&#x20AC;? Counsel policy limit, due to sudden, accidental direct physical loss or damage to the AreThis rogue websites popping up bicycle that use agencyâ&#x20AC;&#x2122;sin a cycle. coverage would apply if insured wereyour to be involved trademark? Hereâ&#x20AC;&#x2122;s howor intothecombat online object. trademark collision, ďŹ re, theft, vandalism, hitting of another

infringement. As TrustedChoice.com has seen exponential

Coverage also includes protection whileof theonline bicycleopportunists is in transit (land or air) growth, it has become the target trying to & from any location in the United States or Canada, and protection when to profit from its success and goodwill. competing in triathlon or bicycle races.

Trusted ChoiceÂŽ and the Big â&#x20AC;&#x153;Iâ&#x20AC;? Office of General Counsel have

INCLUDED COVERAGES AT NO EXTRA COST: collaborated to stop several so-called â&#x20AC;&#x153;typosquattersâ&#x20AC;?â&#x20AC;&#x201D;often Â&#x2026; 3FOUBM 3FJNCVSTFNFOU shadowy figures that register domain names that are identical Â&#x2026; $PNQFUJUJWF &WFOU 'FF 3FJNCVSTFNFOU or confusingly similar to well-known domain names or Â&#x2026; 4QBSF 1BSUT trademarks. In the last few months, the Big â&#x20AC;&#x153;Iâ&#x20AC;? has shut down Â&#x2026; $ZDMF "QQBSFM trustedchoise.com, trustedchioce.com, and trustdchoice.com, Â&#x2026; Bicycle Liability: primary These coverage for the injuries damage trustedchoices.com. websites appearor toproperty have existed for

(caused by the insured of bicycle) for which theto insured is held legally the sole purpose diverting traffic competitors through, for example, display ads atfor direct single response captive responsible. Coverage is offered combined limits and of: $25,000, agent and carriers. Typosquatters displaying ad links are typically $50,000 $100,000.

compensated by advertisers on a pay-per-click basis.

Â&#x2026; Medical Payments: covers medical expenses of the insured cyclist if they are Ifinjured while on owns the insured bicycle, regardless of fault. The following your agency a trademark and you discover rogue sites per with person limits are available: $1,000, $2,500, $5,000, $7,500, $10,000. confusing addresses are popping up, what should you do? Â&#x2026; Vehicle Contact Protection: covers injuries if, while on the insured bicycle, To stop these typosquatters, the Big â&#x20AC;&#x153;Iâ&#x20AC;? has used the arbitration UIF JOTVSFE JT TUSVDL CZ BO VOJOTVSFE PS VOEFSJOTVSFE NPUPSJTU "WBJMBCMF JO procedure created by ICANN, the organization that runs the combined of $10,000 or $25,000. systemsingle for limits registering domain names. Upon identifying a

potentially infringing domain name, a trademark owner may Â&#x2026; Roadside Assistance: GPS POMZ QFS ZFBS QFS CJDZDMF IPVS &NFSHFODZ file awill complaint against themiles domain name registrant with an Service be provided (up to 35 per tow, 5 tows per year). ICANN-approved arbitration provider. The trademark owner See identify how an average Homeownerâ&#x20AC;&#x2122;s Policy measures up to can the domain name registrant through a Markel WHOIS search (available at who.godaddy.com Averageand other websites). Markel Policy Coverage

Homeownerâ&#x20AC;&#x2122;s Policy Bicycle Policy To be successful, the trademarkNot owner prove *OTVSFE BU 'VMM 7BMVF Likelymust allege and Yes that: 1) the domain name is identical or confusingly similar Crash Damage No Yes to its trademark; 2) the domain name registrant does not have Theft Coverage Limited Yes any rights or legitimate interests in the domain name; and 3) 5IFGU "XBZ GSPN )PNF Limited Yes the domain name has been registered and is being used in bad 7FIJDMF $POUBDU 1SPUFDUJPO No(such as to divert business Yes faith by the domain name registrant

1FSTPOBM -JBCJMJUZ Yes to a competitor). If successful, the trademark owner canYes obtain 3FQMBDFNFOU #JLF 3FOUBM No Yes the transfer or cancellation of the domain name. &WFOU 'FF 3FJNCVSTFNFOU No Yes

The ICANN arbitration procedure is user-friendly, Yes prompt $ZDMJOH "QQBSFM Not Likely and relatively inexpensive compared .FEJDBM 1BZNFOUT Not Likelyto other methods Yes of combating the misuse. The arbitration 3BDJOH $PWFSBHF No providers offer detailed Yes instructions and sample complaints. A trademark owner can file 4QBSF 1BSUT *OTVSFE Not Likely Yes a complaint for approximately $1,300 to $1,500, with additional Covered in Transit Not Likely Yes fees for multiple domain names, and receive a decision within 8PSMEXJEF 1IZTJDBM %BNBHF Not Likely Yes approximately 60 days. Date of the event** Date of purchase thru event date 3PBETJEF "TTJTUBODF Not Likely Yes policy limit, due to sudden, accidental direct physical loss or damage to the cycle. This coverage would apply if insured bicycle were to be involved in a * Homeownerâ&#x20AC;&#x2122;s coverage is typically limited Actual Cash Value (ACV) of the bike, not replacement value. vandalism, or in the hitting of another object. collision, ďŹ re, theft,

Coverage also includes protection while the bicycle is in transit (land or air) to & from any location in the United States or Canada, and protection when competing in triathlon or bicycle races.

Need help? Reach out to me at the national Big â&#x20AC;&#x153;Iâ&#x20AC;? Office of General Counsel at joseph.doherty@iiaba.net. u

Directory of Advertisers Advertiser

ACUITY Allied Insurance/Harleysville Amerisafe AmTrust North America Applied Underwriters Arlington/Roe & Co. Atlas General Insurance Services Auto-Owners Insurance Bailey Special Risks, Inc. Berkley Southeast Insurance Group Berkshire Hathaway Guard Insurance Cos. Brentwood Services Administrators Builders Mutual Burns & Wilcox Central insurance CNA Insurance Consumers Insurance Donegal Insurance Group EMC Insurance FCCI Insurance Group Grange Insurance Companies Heartland Ovation Payroll INSBANK J.M. Wilson Johnson & Johnson Keystone Insurers Group MetLife Auto & Home National Security Group North Alabama Insurance Penn National Insurance Preferred Comp/Meadowbrook Preferred Property Programs Risk Innovations Securerisk South & Western Southern Cross Underwriters Summit Holdings Tennessee Underwriters, Inc.

Phone

(800) 242 - 7666 (352) 384 - 4186 (866) 719 - 0267 (877) 528 - 7878 (877) 234 - 4450 (800) 878 - 9891 (877) 662 - 8527 (615) 373 - 5200 (800) 768 - 7475 (615) 932 - 5508 (800) 673 - 2465 x4567 (800) 524 - 0604 (800) 809 - 4859 (800) 341 - 4844 (770) 740 - 8000 (800) 251 - 5852 (615) 896 - 6133 (770) 232 - 2272 x1370 (800) 239 - 2005 (800) 226 - 3224 (800) 422 â&#x20AC;&#x201C; 0550 (901) 598 - 4829 (866) 866 - 4268 (800) 595 - 0063 (931) 704 - 0810 (800) 416 - 5498 (615) 812 - 4811 (800) 239 - 2358 x267 (800) 824 - 1740 (800) 395 - 0518 (800) 755 - 8090 (888) 549 - 2465 (800) 913 - 6696 (770) 723 - 8096 (800) 492 - 5351 (800) 682 - 5263 (800) 971 - 2667 (615) 791 - 1400

Website

www.acuity.com alliedinsurance.com harleysvillegroup.com www.amerisafe.com www.amtrustnorthamerica.com www.auw.com/us www.arlingtonroe.com www.atlas.us.com www.auto-owners.com www.bsrins.com www.berkleysig.com www.guard.com/apply www.bwood.com www.buildersmutual.com www.burnsandwilcox.com www.central-insurance.com www.cna.com www.ciusa.com www.donegalgroup.com www.emcins.com www.fcci-group.com www.grangeinsurance.com www.ovationpayroll.com www.insbanktn.com www.jmwilson.com www.jjins.com www.keystoneinsgrp.com www.metlife.com www.nationalsecuritygroup.com www.nai1982.com www.pennnationalinsurance.com www.meadowbrook.com www.umbrellaprogram.com www.riskinnovations.com/tni www.securerisk.com www.southandwestern.com www.scui.com www.summitholdings.com www.tnund.com

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