a
o Z V
L
January 2010
The MUTUAL BENEFITS PROGRAM "The Voice" of Independent Agents since 1934
SM
Five Reasons to Choose New Mexico Mutual
1 2 3 4 5
New Mexicos Experts in Workers’ Compensation Insurance CREATED FOR NEW MEXICO BUSINESSES
Created by New Mexicans for New Mexicans, we are a New Mexico business ourselves and understand the diverse operations of our state’s workforce. By placing your business with our company, your premium dollars stay in New Mexico.
PROTECTION FOR YOUR EMPLOYEES, SECURITY FOR YOUR BUSINESS,
We ensure that your business investment is protected from the costs of an accidental injury as well a provide services and programs to keep your employees safe at work and rehabilitate those who may suffer a workplace injury.
EXCELLENT CUSTOMER SERVICE
We are a local company that understands the state and your specific needs, not a faceless 800 number. Our local team of loss prevention and claims professionals know how to take care of injured workers and provide useful and practical information to keep your workplace safe.
LEADERSHIP AND ADVOCACY FOR NEW MEXICO BUSINESSES
We are an industry leader in providing workers’ compensation data to the state of New Mexico. We represent our clients in Santa Fe by advocating legislation that protects businesses and workers, while keeping the cost of workers’ compensation insurance to a minimum.
INTEGRITY
New Mexico Mutual is recognized as one of the most ethical companies in New Mexico and we’ve earned that designation by being forthright and respecting the relationships we’ve built with our agents, clients and injured workers, We are financially strong and will be here to back your business when you need us most.
SM
3900 Singer Blvd. NE • Albuquerque, NM 87109 505.345.7260 or 800.788.8851
www.NewMexicoMutual.com
IIANM Announces the
Mutual Benefits Program!
S
tarting January 1, you can benefit by submitting applications for new business with New Mexico Mutual and receive even more by putting that business with them. IIANM is pleased to offer this Visa gift card program that can benefit you and New Mexico Mutual, the largest financial supporter of IIANM. New Mexico Mutual had rates approved for their three new companies October 1 and wants you to take a look at what they can do for your customers. The Mutual Benefits program is designed to benefit you when you submit an application for new business. Even better, you’ll receive an even larger benefit when you bind that new business with New Mexico Mutual in any of their companies. The benefits will be distributed as Visa gift cards that you can use yourself, give to your family or anyone else you choose!
Qualifications: • CSR receives $10.00 gift card for any new application submitted to and quoted by underwriting • For a bound policy with premium up to $4,999.00, CSR receives a $10.00 gift card • For a bound policy with premium from $5000. to $24,999., CSR receives a $25.00 gift card • For a bound policy with premium from $25,000 to $49,999, the CSR and agent each receive a $50.00 gift card • For a bound policy with premium over $50,000 the CSR and the agent each receive a $100.00 gift card. • Program will run from January 1, 2009 thru February 1, 2010. • Must be a member of IIANM to participate.
Colonial General Insurance Agency
Commercial Lines/Brokerage Department Founded in 1985, Colonial General Insurance Agency, Inc. is a wholesale General Agency providing quality insurance products to the Independent Insurance Agent. Colonial General specializes in both standard and non-standard business. Our Property and Casualty business includes:
♦
Preferred BOP
♦
Property
♦
Inland Marine
♦
Professional Liability
♦
Commercial Liability
♦
Workers Compensation
Avoid monthly or annual membership fees, use Colonial General for your Preferred Business Owners Policies. We have several markets available to give you the best quote possible. For additional information contact your underwriter.
Transportation Department
♦
Commercial Auto
♦
Truckers
♦
Physical Damage
♦
Commercial Contract
♦
NB Mexican Truckers
♦
Local Radius
♦
Personal Lines
♦
Garage
♦
Intermediate Radius
♦
Professional Liability
With 2,500 active producers under contract, Colonial General operates in eight states throughout the South-West. Our offices are located in Murray, Utah and Scottsdale, Arizona. Most of all, we pride ourselves in our friendly customer service and our ability to help our producing agents with their many insurance needs.
Please contact our Utah office for all your Transportation needs! P.O. Box 571770, Murray, Utah 84157 Phone: (801) 562-1188 Wats: (800) 594-8900 Fax: (801) 562-2218 Toll Free Fax: (800) 332-9285
Personal Lines Department ♦
Masterpiece Company
♦
Standard Company
♦
Umbrellas
♦
Stand-alone Liability
♦
Vacant
♦
Seasonal
♦
Dwelling Fire
♦
Homeowners
Preferred Commercial Lines Division P.O. Box 14770 Scottsdale, AZ 85267 8475 E. Hartford Drive, Suite #100 Scottsdale, AZ 85255 Phone: (480) 991-7889 Wats: (800) 848-8860 Fax: (480) 948-1394 www.colonialgeneral.com
You will never pay a fee to access our companies. No volume or binding contracts.
“La Voz� is the official monthly publication of the
La Voz
Independent Insurance Agents of NM 1511 University Blvd. NE Albuquerque, NM 87102. (505) 843-7231. Fax (505) 243-3367. Web site www.iianm.org. This publication is intended to provide accurate and authoritative information on the subject matter covered, but is distributed with the understanding that neither IIANM, nor any contributing author, publisher, contributor or advertiser is rendering legal, accounting or any other professional service and assume no liability whatsoever in connection with its use. Further, the electronic links to our advertisers and/or contributors found in this publication are provided as a courtesy to our readers and do not necessarily indicate an endorsement by IIANM. News items from members of Independent Insurance Agents of New Mexico and the general insurance industry are encouraged. The advertising deadline is the fifteenth day of the month, preceding publication. Advertising rates are available upon request. Please contact Rachel Sheffield at rachel@iianm.org for details
IIANM Staff President/CEO Thom Turbett, CIC VP Of Membership Services Lorri Gaffney
"The Voice" of Independent Agents since 1934
Features Decoding Discontinued Operations
09
Tax Observations on Surplus Lines Taxes
11
Survey on New Years Resolutions: Finances
13
50th Annual Education Seminar!
15
Demand for Special Event Coverage on the Rise
17
P&C Insurers Urge Legislatures to Focus Health Care Reforms
18
Big "I" Supports Bipartisan Estate Tax Relief Legislation
19
Why is Insurance Considered a Commodity?
20
Eliminate Backlog From Your Agency
23
IIANM's 2010 Calendar of Events
24
In Every Issue Tech Talk
06
Education Edge
26
Director Of Insurance Programs Carmen Reese Porter, ACSR, CISR
January's Clickable Calendar
27
Odds n Ends
29
Director Of Education Jeff Straight, CIC, LUTCF, AAI
IIANM's Partners Program
30
Director Of Communications Rachel Sheffield
Receptionist / Member Services Associate Renee Trujillo
Advertiser Index Acuity
14
American Mining Insurance Company
19
Big "I" Professional Liability
28
Chair Alma Franzoy-Capron
Burns & Wilcox
22
CBIC
10
Vice-Chair Kathy Yeager
Colonial General Insurance Agency, Inc.
04
Cresta
07
Secretary/Treasurer Scott Jones
Litchfield Special Risks, Inc.
08
National Director Sam Conlee
Market Finders, Inc.
12
MetLife Home & Auto
16
New Mexico Mutual
02
Trustco
18
2009-2010 Officers
Immediate Past Chair Angela Vasquez
Source: The Anderson Agency Report
Prospecting ads The alternative to a sales ad is a prospecting ad. The purpose of a prospecting ad is to generate a lead, partly for immediate sales but primarily for building growing relationships for future and ongoing sales. Conventional wisdom is that you have to "touch" someone seven times before they start to notice you. It's my belief that a prospecting ad will generate roughly as many sales as a sales ad will, but leave you with a batch of leads. You can then put these prospects into a drip marketing system (see below) to start building a long-term relationship for future sales.
Sales Ads vs. Prospecting Ads Learn the value of prospecting ads and how to process leads when you receive them. One of the divisions of our company is an advertising agency. Specifically, we help our customers (not insurance agents, sorry) sell goods and services to their customers using Web and/or e-mail ads. Sometimes our customers already have a print media theme that they want to follow and augment, but often we (or they) create new ads. Given free rein, people invariably create sales ads. We, however, refer to them as "sink" ads, because the tendency is to put everything—including the (rhetorical) kitchen sink—into the ad. These ads include multiple sales points, all features and benefits—the works.
Sales ads The only result you can get from a sales ad is sales—which can be good and bad. Picture a Web page that advertises a product. The only call-to-action on the page is a "Buy Now" button. Some percentage of viewers will look at the ad, be motivated by the features and benefits, and will buy immediately. What about all of the other people who visited the page and didn't buy? They are gone forever and the company didn't get them as prospects because they had a sales-only Web page. Page 6
Let's put this information into an example for an insurance agency. Let's say your Web site attracts visitors who are not currently customers, as well as current clients. Next, let's say that you want to advertise personal umbrella policies on your site. The sales approach would be to have a hard-hitting page all about personal umbrellas, and why visitors to your site should have one. Content could include features, benefits, samples of claims covered by umbrellas, and samples of what happens to people without them. The Buy Now button could be an actual button that takes the visitor to an agency-branded page from a personal umbrella carrier. The occasional personal umbrella will magically appear, along with your commission check. The prospecting approach would be a shorter, lighter approach, almost a teaser page. Content would include a little bit about personal umbrellas—enough for the reader to grasp the idea—and an offer to e-mail a complimentary white paper or Top 10 list (or anything of value that can be e-mailed). In addition to the call-to-action of offering a complimentary document, you can also include another callto-action: a contact name and phone number. Be prepared in advance to fulfill the request by having the white paper (or whatever you've offered) ready to go. Here are a couple of ways to do that.
Forms If you have a sales and prospecting system, such as SalesForce.com, the form can be generated from that system, with an autoresponder that thanks the person for requesting the information and sends it to them. Alternately, you could use a service like ConstantContact.com—the same service you can use for sending newsletters and ads. A third alternative is to use a system such as FormMail.com, which provides the actual HTML code to put into your Web page, and processes the leads through their system (usually in seconds) and sends them to you, where you can either fulfill the requests manually or have a specific e-mail account with an autoresponder that fulfills the request.
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
An important question is how much information you want to (or should) collect. The natural inclination is to get as much information as you can, and to make most of the fields mandatory. Wrong, wrong, wrong! This isn't about you or your agency; it's about the prospect. Make it as easy as possible for people to complete the form. If they want to give you their name and phone number but not their e-mail address, fine. Just remember that every time you add a field, fewer people will complete the form. Does it really matter that you have their first and last names as separate fields? Unless you're expecting thousands of responses feeding automatically into Salesforce, there's nothing wrong with a producer or CSR manually reading what the prospect is willing to give you. When we create forms, we usually have four fields, none of which are mandatory: Name, Phone, E-mail, and Comments box. And yes, we often get form submissions with incomplete data. Since these prospects are worth a lot to us, we take a few minutes to gather the missing information from the Web. Here's how: •If the e-mail address has an actual Web site, such as @ agencyname.com, you can usually get the full information there. •Try doing a Google and/or a Bing search for the e-mail address. •If the e-mail address is from a site like Hotmail, you can use a service such as emailfinder.com (premium membership with unlimited searches is $23.40 per year). •If you only have the phone number, enter it into Google or Bing, with hyphens, and you'll often come up with either a full telephone listing or a Web site. Once you have gathered this information, you should put it into either a CRM system, such as Salesforce.com (full-featured, but not cheap) Zoho.com (starts free and grows to inexpensive), or directly into a system such as ConstantContact.com, which enables you to send ongoing newsletters and promotional material and includes significant CRM components. If your agency is willing to take a longer-term view, try using prospecting pages and ads either in place of sales ads, or at least interspersed with them. You'll be glad you did. by G. Barry Klein G. Barry Klein is a former insurance agent who maintains UltimateInsuranceLinks.com as an industry service.
The Shortest Distance Between You And Quality Property/Casualty Insurance Products And Services
Cresta gives you access to: • Customized Packages for financial institutions, technology firms, health & life science companies and more • Commercial auto, including trucking, heavy equipment transportation and nonemergency medical transport • Contractors • Energy • Environmental Liability • Health Care • Professional Liability/ Specialty Lines • High Net Worth Individual Personal Lines • Umbrella & Excess Liability • Workers Compensation • And more... Competitive commissions. Responsive service. No monthly access fees. For more information on what we can do for you, call Bob Rich at 303.691.8540.
www.CrestaIns.com
Stand Alone Truckers GL “ONLINE INSTANT QUOTING”
Established 1980
www.lsrinc.org
24/7 Anytime Quotes ►Earn 15% commissions ►Get a quote online within minutes ►Liability Limits up to $1,000,000 Occurance/$2,000,000 Aggregate ►Live online help and training available ►E Check-Fast, Free Payment Option
Keep checking our website for more Online Quoting. Additional Lines & Companies Coming Soon. El Paso, TX 1-800-592-1027
Albuquerque, NM 1-888-767-9005
San Antonio, TX 1-888-818-6601
Phoenix, AZ 1-800-592-1027
Decoding Discontinued Operations
A
Misunderstandings can lead to E&O claims.
homebuilder decides to hang up his hammer and retire to Florida. He contacts his agent to see what he needs to do about his insurance, which is coming up for renewal. The CSR advises him that he needs to do nothing because he has a CGL occurrence form, and the CSR tells him that, unlike under a claims-made form, he is protected "forever into the future" for claims. So, the contractor retires to Florida and enjoys the good life --- for two years. After two years, the deck on a home he built on a hillside collapses during a party, sending 35 people snowboarding down the hill without snowboards...or snow. Luckily, no one is killed, but several people are injured enough to require medical attention. A claim is filed against the contractor who contacts his agent. Eventually, the carrier advises that he has no coverage. At this point, the CSR, producer and agency owner finally take the time to read the contractor's CGL policy. They learn that, while the CGL does indeed cover claims "forever into the future," the claim must arise out of an occurrence that takes place during the policy period. A common misconception is that the occurrence happens at the time of the negligence --- in this case, when the deck was inadequately secured.
by Bill Wilson
Market Update: Based on the responses to Virtual University, we are told that the following have markets for discontinued operations/products coverage: • • • • • • • • • •
AIG (www.aig.com) General Star (www.generalstar.com) RLI/Mt. Hawley (www.rlicorp.com) Triangle Brokerage (Bermuda) Fenchurch Insurance Brokers, Ltd. (London) Admiral (www.admiralins.com) All Risks, Ltd (www.allrisks.com) Shand-Morahan - Evanston Ins. Co. (www.shand.com) USX/S (www.usxs.net) Cooney, Ricard & Curtin (www.crcins.com)
If you know of others, please email Bill.Wilson@iiaba.net.
However, a careful reading of the CGL policy's insuring agreement reveals that, "This insurance applies to ’bodily injury’ and ‘property damage’ only if...the ‘bodily injury’ or ‘property damage’ occurs during the policy period." So, no CGL coverage is extended. Fortunately for the contractor, the claim is covered... by the agency's E&O policy. Discontinued operations coverage and discontinued products coverage is a necessity for most contractors, manufacturers and others with similar exposures. Unfortunately, not every company writes this coverage, so it may be necessary to provide it on a surplus lines basis. Agents should be wary of this often misunderstood exposure, or they may find that their agency's operations suspended.
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
Page 9
Your partner for 30 years Your partner for 30 years
Your partner for 30 years Your partner for 30 years
We can help you climb higher. We can help climbinhigher. Do you need a program foryou contractors New Mexico?
We can help you climb higher. Do you need acan program for contractors in New Mexico? Inland Marine and Automobile. help you climb higher. CBICWe provides coverage including: General Liability, Property, Do you needcoverage a program for contractors in New Mexico? CBIC provides including: General Liability, Property, Inland Marine and Automobile.
CBIC provides General Liability, Contact: Craig Hedrick,including: (800) 866-2242, craigh@cbic.com Do you need acoverage program for contractors in NewProperty, Mexico? Inland Marine and Automobile. Contact: Craig Hedrick, (800) 866-2242, craigh@cbic.com
ContractorsCBIC Bonding and Insurance Company - Bestincluding: Rated “A” (Excellent), Licensed in 50 states, Property, U.S. Treasury Listed provides coverage General Liability,
Contact: Craig Hedrick, (800) 866-2242, craigh@cbic.com
Contractors Bonding and Insurance CompanyMarine - Best Ratedand “A” (Excellent), Licensed in 50 states, U.S. Treasury Listed Inland Automobile.
Taxing Observations on Surplus Lines Taxes
T
Certain states may have a heightened interest in surplus lines bill.
by Paul Buse
he House unanimously passed the Nonadmitted and Reinsurance Reform Act of 2009. After a similar bill failed in the Senate last year, many in the insurance industry, including the Big “I," are hoping the House bill brings some clarity to the surplus lines marketplace. Promoters of the bill cite the need to clarify rules for filing and paying state surplus lines taxes. The graph below provides some perspective on the importance of the surplus lines sector to P&C business in each of the 50 states and Washington, D.C. The graph shows an estimate of the surplus lines taxes collected, the premium tax percentage rate and the per capita surplus lines premiums in the state. The states are listed from left to right in descending order based on the estimate of total surplus lines taxes collected.
Source: A.M. Best data on each state’s surplus lines direct written premium for 2008, state surplus lines tax rates as reported in the Sept. 14 A.M. Best Surplus Lines Market Review, and the U.S. Census Bureau. Note: surplus lines taxes are an estimate based on tax rates and premiums reported by A.M. Best. Actual taxes and fees collected in states may vary from totals shown above as there are fees in addition to surplus lines taxes in some states and a state may tax premiums outside of what A.M. Best tracks as written in a state based on required filings.
The states most interested in any federal bill on surplus lines will presumably be those with the most tax receipts. Not surprisingly, the top five states in estimated surplus lines tax receipts are also generally the largest states. That is, of the top five states in premium tax receipts, four have the highest total population because the more people and the more activities requiring surplus lines coverage, the more tax revenues are generated. An interesting deviation from this trend is Louisiana. Louisiana, unlike its brethren in the top five, does not have a very large population – in fact, it ranks 25th in population, according to U.S. Census Bureau estimates for 2008. Reasons for Louisiana breaking into the top five no doubt include the heightened need for the specialized coverages and flexibility offered by surplus lines insurers in the state. This is reflected in the graph; Louisiana ranks first in the nation at $212 per capita in surplus lines premiums. Second, Louisiana’s surplus lines tax rate, while not the highest, is tied for second highest at 5%. Interestingly, the surplus lines tax states receive appears to be considerably higher than the tax on admitted P&C business. Most independent agents know the general premium tax in effect in their state and the rates shown in the chart generally exceed it. In fact, the surplus lines tax rate across all states is almost 4%. The average tax rate on standard P&C lines is less than 2%. As the Senate considers the bill further, the rationale for surplus lines taxes may see some discussion, particularly in light of the fact that some states charge as much as 6%.
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
Page 11
www.marketfindersnm.com
Phone: (505) 822-8711 Fax: (505) 822-1165 Toll Free: (800) 530-8711
New Mexico’s Locally Owned Managing General Agency Since 1977 Representing some of the most financially strong and innovative insurance companies in the specialty marketplace!
Top-Tier Markets For:
Commercial / Public Auto General Liability Property / Vacants Garage / Dealers Liquor Liability Special Events Inland Marine Directors & Officers Liability Professional Liability / E&O Commercial Umbrella Watercraft / Motorcycles / ATVs Personal Umbrellas Homeowners Mobile Homes Dwelling Fire / Vacants At Market Finders, Inc., our mission is to professionally provide quality specialty markets and service to the Agents of New Mexico.
Market Finders, Inc.
4910 Alameda Blvd NE - P.O. Box 90280 Albuquerque, NM 87199 Page 20
www.marketfindersnm.com
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2008
Survey on New Year’s Resolutions:
Finances Surprise Finding: Fiscal Fitness More Desired than Physical
A new survey about New Year’s resolutions shows Americans continue to have mixed feelings about their own financial future, as well as the country’s. Sponsored by Allianz Life Insurance Company, Synovate Research conducted the survey of 1,000 respondents across the United States in November 2009. When asked what the country’s New Year’s resolution should be for 2010, survey respondents cited that financial issues are top of mind: 52.6 percent said create jobs/ reduce unemployment, 32.4 percent wanted the country to fix its finances, 10.6 percent cited solving healthcare issues & 4.4 percent said mending strained relations around the world.
people (40.2 percent) said diet and exercise, versus managing their money better (38.7 percent). “Feelings about the future are mixed, but people fundamentally agree that the nation and its citizens must focus on rebuilding a strong financial future. The survey also shows a lack of confidence in exactly how to manage finances well,” said Chief Marketing Officer Nancy Jones of Allianz Life. “Whether focusing on managing money better or saving for the long term, a financial professional can help to identify specific clients’ needs and concerns.”
When asked whether financial planning was part of their own personal New Year’s resolutions: 33.6 percent said “I don’t have enough money to worry about it”, 33.2 percent said are including financial planning in their 2010 resolutions, 23.3 percent said they already have a solid financial plan.
Diet and Exercise vs. Fiscal Fitness When asked what type of expert professional service they would most like to use, 40.7 percent chose a financial expert compared to only 27.3 percent who said they wanted personal trainer. Financial guidance was of particular importance to the youngest and oldest generations surveyed, with 43.4 percent of the 18-24 group choosing financial expert, and 42.4 percent of those 65 and up. Conversely however, when asked what resolution for 2010 they are most likely to keep, more
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
Page 13
trust. acuity.com
SPONSORS & EXHIBITORS CLICK HERE
a l E u n d n u cation Sem A 0 5 s ’ M inar IIAN 15 Hours of Continuing Education th
for the Insurance Professional
KNOWLEDGE IS GOLD
W
elcome to the Independent Insurance Agents of New Mexico’s 50th Annual Education Seminar! This seminar is designed to specifically meet the annual continuing education requirement for licensed NM insurance agents. We encourage you and your staff to join us on March 10th & 11th, 2010 at The Hilton Hotel in Albuquerque. This two-day program offers educational opportunities, a great Trade Show with over 30 exhibitors, and provides a venue for industry professionals, agents, CSRs and company representatives to network. For those of you who have not attended before, this is how it works: We will be featuring 20 classes, taught by various instructors. Choosing your classes is much like making selections from a menu. You may choose to take all your classes within one track (i.e. commercial lines only) or you may choose to mix and match tracks so you can take advantage of the wide variety offered. The entire program is approved for both the P&C and L&H licenses, so you may attend any class you like.
Please click here for class descriptions and registration form.
Seminar Tracks
8:00am - 12:00pm
1:00pm - 4:00pm
8:00am - 12:00pm
1:00pm - 4:00pm
4 Hours of CE
3 Hours of CE
4 Hours of CE
3 Hours of CE
Commercial Lines
Inland Marine Coverages
Implied Coverages
Big I’s Ask an Expert Commercial Lines
Employer Related Exposures
Jack Cleary
Paul Martin
Personal Lines
Agency Management
March 10
Dan Myers
Young Agents / Professional Development
Betsy Carlson
March 11
March 11
A Renewed Look at the Homeowners Policy
The Personal Auto Policy Dissected
The Insurance Game
Big I’s Ask an Expert Personal Lines
Manny Mansour
Dan Myers
Paul Martin
Jack Cleary
Avoiding E&O Exposures
Agency Management in the Age of Technology
The State of the Insurance Industry
Application Fraud Awareness
Manny Mansour
Chris Burand
Dick Densch
Ed Budanauro
DI Insurance
Employee Benefits
March 10
James Coope
LTC Insurance Tiffini Arringon Carolyn Rossi
Managing Stress for Insurance Agents Teri Cross
Health Care Legislation Update
COBRA & FMLA Update
Employee Benefit Plan Design
Sue Bisbee
Genevieve Kluckman
The Dynamics of Change
Motivate Your Team
Teri Cross
Keri Stewart
Time & Priority Management
Steve Byrd Carole Henry
Ethics DVD: Either March 10th or 11th
Keri Stewart
4:00pm- 5:00pm
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
Page 15
KAY GUADAGNOLI CIC, LUTCF New Mexico Regional Sales Manager
GUADAGNOLI LUTCF * * *KAY BEST WISHES FOR 2010 - HAPPYCIC, NEW YEAR *** CALLNew ME FORMexico DIRECT AGENCY APPOINTMENT DETAILS Regional Sales Manager (505) 867-9520 or (888) 448-8422 kguadagnoli@metlife.com
FOR AGENCY APPOINTMENTS OR MORE INFORMATION, PLEASE CALL ME. (505) 867-9520 (888) 448-8422 kguadagnoli@metlife.com
Pulse on the P&C Market
by Veronica DeVore
Demand for Special Events Coverage on the Rise
S
Agents, carriers seek ways to simplify coverage process.
pecial events insurance encompasses a wide range of insured needs and often requires a good deal of expertise and detail work on the part of agents. Demand for special events coverage is on the rise, and carriers are offering a variety of packages and online forms to make writing business easier. “The trend seems to be that more and more facilities are requiring their events to have coverage, even small events,” says Lorena Hatfield, marketing resources manager at K&K insurance group. “Often, people will show up at a facility without insurance and didn’t know they needed it.” Hatfield says some carriers, including K&K, are offering new ways to bind special events coverage on short notice. Hatfield is also seeing an all-around demand for higher limits as events get more and more complex, and she says many carriers are bundling multiple coverages for a single event in order to make the policy more straightforward and easier to write. A prime example is weddings, where bundling coverages for the rehearsal dinner, ceremony and reception can simplify the process.
negotiate with large event sponsors to address their sometimes unreasonable insurance demands. “Sponsors’ requirement for high limits can negate the need for sponsorship due to the cost of the extra limits,” says Ham. “More and more, we find ourselves in a position of negotiating directly with the sponsor about what we can provide and at what cost.” Ham adds that carefully analyzing exposures, working with insureds to address every aspect of an event and being proactive about loss control are essential to providing effective events coverage. He says there are thousands of events in each state that require full liability coverage and a savvy insurance professional. “Often, someone will call seeking coverage and producers just give a price,” says Ham. “You have to find out the exposures and what they’re doing for loss control. If you are willing to spend the time, it brings in more business.”
Agencies that specialize in events insurance are also finding ways to simplify the coverage process while bringing in more business. Hank Ham, an agent at the Henry Ham Agency in Denver, says very large events, such as state fairs and festivals, often require insurance for every single vendor. Instead of making them all purchase separate policies, Ham encourages the event organizers to work off of a master policy form that he provides. This method easily covers all entities under one form – and brings in more business for the agency. However, while there are many ways to simplify special events coverages, Ham is finding that some aspects of the marketplace are becoming increasingly complicated. In particular, he must often
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
Page 17
Homeowners Catastrophe Insurance Trust
Your preferred homeowners clients deserve the broadest possible coverage for their homes and personal property. As an active member of IIANM, you have the original -- the very best such program available to you right now. The HCIT Difference in Conditions (DIC) policy supplements basic homeowners coverage by providing protection for catastrophic losses, including FLOOD and EARTHQUAKE.
Just contact:
Trustco, Inc. - HCIT Program Administrator
2063 East 3900 South Ste. 100, Salt Lake City, UT 84124 1-800-644-4334 / Fax: 801-278-9051
www.hcitins.com
Bobbi Phillips / bobbip@hcitins.com Eric Kingdon / erick@trustcoinc.com
On the Hill P&C Insurers Urge Legislators to Focus Health Care Reforms on Health Care Health care bill targets P&C insurers, threatening business model and competition.
T
he Big “I” joined a united group of property-casualty trade associations representing every segment of the P&C insurance industry – primary insurers, agents, brokers and reinsurers – to express strong opposition to provisions included in H.R. 3692, the Affordable Health Care for America Act, as passed by the U.S. House of Representatives on Nov. 7. The P&C trades object to the inclusion of onerous provisions in the bill that go far beyond the issue of health care reform. The bill would repeal the long-standing ban that prevents the Federal Trade Commission (FTC) from conducting burdensome investigations into the insurance market and would permit the FTC to prepare studies and reports on the entire insurance industry. This would disrupt the industry’s business environment and create substantial legal uncertainty and unnecessary litigation.
Page 18
by Margarita Tapia
“The goal of any health care legislation should be to address issues of health care coverage and affordability,” says the letter. “This purpose is not served by allowing the FTC to encroach on the jurisdiction of the states and conduct duplicative investigations of any insurance company.” There is also language in the bill that would modify the McCarran-Ferguson Act for health and medical professional liability insurance by broadly applying federal antitrust laws to the “business of health insurance or the business of medical malpractice insurance.” This would fundamentally alter long-standing provisions of the McCarran-Ferguson Act and undo decades of settled case law, thus upsetting McCarran’s careful balance of regulatory and antitrust policy. It would also eliminate pro-competition information resources for insurers and easily compared forms for consumers, making insurance shopping more difficult and expensive. As the full Senate begins its consideration of health care reform legislation, the Big “I” will work with the P&C industry to keep these misguided provisions out of the Senate bill. Click here to read the full text of the letter.
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
On the Hill
T
Big “I” Supports Bipartisan Estate Tax Relief Legislation
Estate tax faces uncertainty as year draws to a close. he Big “I” joined forces with more than 40 business trade associations as part of the Family Business Estate Tax Coalition on a joint letter expressing support of H.R. 3905, the Estate Tax Relief Act of 2009. The bipartisan bill would increase the estate tax exemption amount to $5 million and would reduce the top rate to 35% by gradually phasing in those new levels over the next 10 years. The estate tax disproportionately impacts small and familyowned businesses that serve local communities and fuel our economy. Without permanent relief, family-owned small businesses are unable to plan ahead and make important business decisions. Many of these businesses are assetrich yet lack the liquidity to pay estate taxes when an owner passes away.
by Joe Wall
million exemption for individual filers and a $7 million exemption for dual filers. The estate tax is scheduled to be repealed in 2010 and return in full force in 2011 with a 55% top rate and a $1 million exemption. Over the past year, the Big “I” has urged Congress to significantly reform the estate tax to encourage investment and growth in small business. Such reform could come in the form of a decrease in the estate tax rate and/or an increase in the exemption amount. There is evidence that the estate tax hinders the perpetuation of family-owned businesses because survivors are often forced to sell the business to pay the taxes. To view the full text of the letter, please click here.
The estate tax currently has a top rate of 45% with a $3.5
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
Page 19
Why Is Insurance Considered a Commodity?
W
Answer: Because consumers (and some agents) focus on price.
hen people have to spend money on something intangible, something they do not really want to buy and do not fully understand in terms of value, they are not going to want to spend any more money than necessary. Unfortunately, insurance fits this mold all too well. When it comes to purchasing insurance, most consumers usually do not know the difference between one quote and another other than price. One quote could provide all risk coverages and another other could be a basic form, but the only difference many consumers would see is the price. Agencies have the power though to bring the value back to insurance by helping their clients break the commodity mentality. The two easiest ways to do this are to improve product knowledge and to use coverage checklists. Improve Product Knowledge A critical reason why insurance is viewed as a commodity is that many producers and CSRs do not have enough technical product knowledge. If a salesperson does not know a complex product, especially one with a public image like insurance, then he or she is not going to be able to explain to insureds the value of the product and its benefits. As a result, the focus shifts from value to price. Technical product knowledge is even more critical in a soft market because someone can always beat your price. This is especially true in our current soft market when some accounts can be rewritten midterm for 20+% less. Such dramatic price decreases even minimize the importance of great service because for 20% less, a client might be willing to accept a little less service when the savings are so great. Focus on coverages and your knowledge of those coverages. For example, if a client has an opportunity to save 20% by going elsewhere, the client might be interested in knowing he or she can get a lot more coverage from you and still save 15%. If you are skilled in understanding coverages Page 20
and are able to communicate the importance of those coverages, that client will likely take your offer. Sometimes the differences in coverage are easy for the insured to see. When one quote provides no liability and another quote does, it is not going to take much convincing to get the client to buy the better coverage. But first, the producer must read and understand the coverages involved in order to advise the client of these differences. Sometimes the coverage differences are easy for the insured to see but at first seem insignificant until a producer explains the importance. For instance, if an agent is working with a contractor, it may be very worth the agent’s while to point out differences in fence coverages. This is a black and white issue that may not seem that important, but they are to a contractor who has a lot of money invested in them. The producer who can point out these differences has the advantage. If the policy covering fences costs an extra $500 on a $30,000 premium, it may be enough to make the sale. Sometimes the differences in coverages are not easy to see or explain. For example, as many agents in New Orleans will now attest, business income and business interruption are not 100% synonymous. They are closely related, but they are not the same and this has caused many problems for people trying to recover from Katrina. Agents that did not understand the distinction were unable to explain it to their clients (and those agents are now most likely faced with E&O claims on the subject). If the agents had better educated their clients, the insureds may or may not have purchased something different—but having better educated clients would have probably prevented some E&O claims. Additionally, they would see the producer as a professional providing a valuable product, not just a commodity. This gives the producer an advantage. All it takes is knowledge about what you are selling.
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
back to them tomorrow. Use Coverage Checklists A second way to add value and distinction to insurance products is to use coverage checklists. A coverage checklist is the best tool for helping clients see their options and for providing a roadmap for offering the proper coverages. Coverage checklists are more than a tool for providing professional service. As an E&O instructor and an E&O procedures auditor for the two major E&O insurance carriers, I have seen how the proper use of coverage checklists can significantly reduce agencies’ E&O exposures. In fact, one carrier estimates that 40% to 60% of all E&O claims in New Orleans could have been prevented had agents been using coverage checklists. As an additional benefit, coverage checklists also increase sales.
If a salesperson does not know a complex product, then he or she is not going to be able to explain to insureds the value of the product and its benefits
Whatever the reason, it boils down to the fact that if producers are not discussing coverages and they are not focusing their sale on the nuances and benefits of the product, they are focusing on price. If they are focusing on price, they have changed the perception of insurance from an investment to a commodity. Stop selling a commodity. Anyone can sell a commodity. Learn your product and use a coverage checklist to provide your clients with the value they would expect from an investment.
NOTE: None of the materials in this article should be construed as offering legal advice, and the specific advice of legal counsel is recommended before acting on any matter discussed in this article. Regulated individuals/entities should also ensure that they comply with all applicable laws, rules, and regulations.
by Chris Burand
Unfortunately, after speaking with hundreds of producers and CSRs throughout my years in this industry, I have found that less than 5% of all producers and CSRs use a coverage checklist. Why is such a great tool so rarely used? The two most common reasons are: 1) “The insured will not give me the time to complete a coverage checklist.” 2) “What do I say if they want to me to explain a coverage I don’t understand?” The first response simply shows that the producer has never asked because producers who do use coverage checklists have found that their clients will almost always give them the time to complete it. The second response circles back to the importance of product knowledge, but even if a producer does not know the answer, this is a simple sales situation of advising the client you will to research the coverage specific to their situation and get
Need a terrific souce for coverage checklists at a great price? Check out the Big I’s new Virtual Risk Consultant.
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
Page 21
www.scottsdale.burnsandwilcox.com
Who has the ability to handle all your specialty insurance needs?
The
Answer is Your Specialty Insurance Professionals
Professional Liability Umbrella & Excess Employment Practices Commercial Property Products Liability General Liability Commercial Auto Personal Lines
Global Resources. Local Relationships. Albuquerque, New Mexico
(866) 643-8538 / (505) 822-0018 / fax (505) 822-0092 scottsdale.burnsandwilcox.com
www.scottsdale.burnsandwilcox.com
by Jack Fries
Eliminate Backlog From Your Agency
I
account rounding, timely renewal processing, and the
account reviews for personal lines and small commercial
The final, and maybe the most important step, is to provide
lines can’t be accomplished, because the CSR “doesn’t
the motivation for attaining zero backlog. In the past the
have time.” This situation has bothered me as an agency
reward for having zero backlog was to give the employee
owner, as well as a consultant, over the years. The
more work. Why would anyone want to be caught up, if his
question was, and is, how can I get people motivated to
or her reward was more work? There has to be a carrot.
nvariably when I conduct a Professional Agency Re-
view, I find that there is backlog in most of the profit cen-
securing of referrals, it must be written into the job description.
ters (Personal Lines, Commercial Lines, etc.). Regular
eliminate backlog and provide the service to the customer, that they deserve.
I have found that telecommuters (people who work from their home) accomplish their tasks in 60% of the time it
The first challenge is to insure that the correct systems
takes them to accomplish the same functions in the office.
and procedures are in place. In order to accomplish this,
There are several reasons for this. They are not inter-
I believe that you have to do two things. The first is to do
rupted by phone calls, the intercom or casual conversation
a full review of your current systems and procedures, to
with other employees. But there is another motivator that
determine if there are processes being done by the staff
is usually overlooked. The telecommuter knows that when
that is unnecessary. You can be accomplished by inter-
they’re done----they’re done. No one will give them extra
viewing the staff, regarding their current practices, and
work and they have free time to focus on other personal or
then creating a workflow chart. You must then reduce
business tasks.
these procedures to writing. The adherence to the written procedures is mandatory.
If you want zero backlog and complete adherence to agency job standards, you must establish a reward system for
Secondly, you must make sure that your staff is using
those that accomplish or exceed the goals that you have
the full capabilities of your agency management system
set in their job standards. A
and other available third party hardware and software.
Friday afternoon off, a free
This includes the entry of complete information in your
dinner at a fine restaurant,
system, the use of form letters, and regular training in
and cash incentives are
the correct use of the system. This also includes the
among the options available
implementation of imaging or electronic filing by he staff.
to you.
Electronic filing will ultimately lead to a 25-42% increase in productivity.
Remember, if you don’t reward excellence in your
The next objective for the agency owner or manager is to
organization, you’ll
establish job standards. A job description is insufficient.
encourage mediocrity
The work must be quantified. If you expect 0 backlog,
among the staff.
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
Page 23
(remember dates are tentative!)
January 1st 12 & 13 th
th
14th
Office Closed -
Property & Casualty License Exam Review
Kitty Leslie
IIANM
Life & Health License Exam Review
Manny Mansour
IIANM
E&O Workshop (8 CE hours)
Jack Cleary
IIANM
Property & Casaulty License Exam Review
Jack Cleary
IIANM
Life & Health License Exam Review
Bob Ouellette
IIANM
Office Closed -
18
th
20
th
New Year’s Day
Martin Luther King Day
February 9th & 10th 11
th
Office Closed -
15th
March
Presidents Day
2rd
ACSR #1- Homeowners (8 CE hours)
Manny Mansour
IIANM
3rd
ACSR #6 - Commercial Property (8 CE hours)
Jack Cleary
IIANM
AAI 81A - Principles of Insurance (8 CE hours)
Bob Zettel
IIANM
4
th
10th & 11th
50th Annual Education Seminar (15 CE hours)
16 & 17
Property & Casualty License Exam Review
Kitty Leslie
IIANM
18
Life & Health License Exam Review
Manny Mansour
IIANM
th
th
th
April
Office Closed -
2nd
Abq. Hilton
Good Friday
6th
ACSR #2- Personal Auto (8 CE hours)
Manny Mansour
IIANM
7
ACSR #7 - Commercial Liability (8 CE hours)
Jack Cleary
IIANM
th
8
AAI 81B - Personal Lines (8 CE hours)
Jeff Straight
IIANM
13th & 14th
Property & Casualty License Exam Review
Jack Cleary
IIANM
15th
Life & Health License Exam Review
Bob Ouellette
IIANM
21st
E&O Workshop (8 CE hours)
Jeff Straight
IIANM
th
May 4th
ACSR #3 - Personal Lines Related Coverages (8 CE hours)
Jeff Straight
IIANM
5th
2010 ACSR Update (8 CE hours)
Jack Cleary
IIANM
AAI 81C - Commercial Property (8 CE hours)
Bob Zettel
IIANM
11 & 12
Property & Casualty License Exam Review
Kitty Leslie
IIANM
13th
Life & Health License Exam Review
Manny Mansour
IIANM
Manny Mansour
IIANM
6th th
th
31
st
June
Office Closed -
Memorial Day
8th
ACSR #4 - E&O/Loss Control (8 CE hours)
9
ACSR #8 - Commercial Auto (8 CE hours)
Jack Cleary
IIANM
10th
AAI 82A - Commercial GL & Auto (8 CE hours)
Jeff Straight
IIANM
15th & 16th
Property & Casualty License Exam Review
Jack Cleary
IIANM
th
17th
Life & Health License Exam Review
July
Office Closed -
5th 7th
Bob Ouellette
IIANM
Independence Day (Sunday)
ACSR #9 - Commercial Lines Related Coverages (8 CE hours) Manny Mansour
IIANM
AAI 82B - Commercial Lines (8 CE hours)
Bob Zettel
IIANM
13 & 14
Property & Casualty License Exam Review
Jack Cleary
IIANM
15th
Life & Health Licsense Exam Review
Manny Mansour
IIANM
8
th th
th
21 & 22
Tentative Date for 14 Annual Southern Seminar (15 CE hours)
21st & 22nd
Tentative Date for Property & Casualty License Exam Review
Kitty Leslie
Las Cruces
28th
E&O Workshop (8 CE hours)
Jack Cleary
IIANM
3rd
ACSR #5 - Professinal Development (8 CE hours)
Genevieve Kluckman
IIANM
th
4
2010 ACSR Update (8 CE hours)
Jack Cleary
IIANM
3
rd
ACSR #4 - E&O/Loss Control (8 CE hours)
Manny Mansour
Roswell
ACSR #9 - Commercial Lines Related Coverages (8 CE hours) Manny Mansour
Roswell
st
nd
Las Cruces
th
August
4th 5th
AAI 82C - Specialized Commercial Lines (8 CE hours)
Jeff Straight
IIANM
10th & 11th
Property & Casualty License Exam Review
Kitty Leslie
IIANM
12th
Life & Health License Exam Review
Bob Ouellette
IIANM
Tentative Date for 21 Annual Last Chance Seminar (15 CE hours)
25 & 26 th
th
st
September 6th
Office Closed -
Albuquerque
Labor Day
15th & 16th
Tentative Date for Convention
21st & 22nd
Property & Casualty License Exam Review
Jack Cleary
IIANM
23
Life & Health License Exam Review
Manny Mansour
IIANM
12th & 13th
Property & Casualty License Exam Review
Kitty Leslie
IIANM
14th
Life & Health License Exam Review
Bob Ouellette
IIANM
20
E&O Workshop (8 CE hours)
Jack Cleary
IIANM
Property & Casualty License Exam Review
Jack Cleary
IIANM
Life & Health License Exam Review
Manny Mansour
IIANM
rd
October
th
November 9th & 10th 11
th
25th & 26th
December
Office Closed -
Thanksgiving
2nd
IIANM’s Holiday Party
7th & 8th
Property & Casualty License Exam Review
Jack Cleary
IIANM
9
Life & Health License Exam Review
Bob Oellette
IIANM
th
24th 31st
Office Closed Office Closed -
Christmas Eve New Years Eve
IIANM’s
EducationEDGE Insurance Education Programs in New Mexico are critical to a successful and profitable career in the insurance industry. Every year, we offer exciting opportunities to expand your professional horizons. All of these education programs are designed to help insurance agents thrive in the most competitive of marketplaces. The pre-licensing classes are designed to be a review for the state licensing examination. We recommend that students be familiar with the study material prior to attending class.
Pre-Licensing Study Materials
Pre-Licensing Classes
To see a list of what is available and to purchase your study materials online, click here.
Study materials are NOT included in class prices.
Property & Casualty Review Class (2 days)
Life & Health Review Class (1 day)
Regular Price: $150 Member Price: $120
Regular Price: $115 Member Price: $90
Instructor: Instructor:
Jack Cleary Kitty Leslie
- January 12 - 13 8am - 5pm - February 9 - 10 8am - 5pm
Instructor: Instructor:
Click here for a full listing of our education program.
Bob Ouellette - January 14 8am - 5pm Manny Mansour - February 11 8am - 5pm
The FINE PRINT: IIANM reserves the right to cancel/reschedule classes. Please call ahead to verify when classes will run. Decisions will be made three days prior to class. Cancellations received after 5 business days, will be assessed a $50.00 cancellation fee. Cancellations received on or after deadline and ‘no shows’ will forfeit the registration fee altogether. A substitute is always welcome, with no extra fee, but prior notification would be appreciated.
Class Name/Date: Full Name:
Method of Payment: Bill Agency (Members Only)
First Name for Badge:
Check Enclosed (Payable to IIANM)
Agency / Company:
M/C Visa Disc Amex
Address:
Amount:
(all prices include tax)
Card No:
City, State, Zip:
Exp. Date:
Telephone: ( Fax: (
)
Signature:
E-Mail:
)
Send in your registration:
Page 26
Go on-line: www.iianm.org or E-mail: jeff@iianm.org
Give us a call: (505) 843-7231 (800) 621-3978
Mail in: 1511 University Blvd. NE Albuquerque, NM 87102
Fax in: (505) 243-3367
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
January's Clickable Calendar - Click on a class to register online -
Sunday
3
Monday
4
Tuesday
5 P&C Pre-licensing Class
10
24
11
ce i f f O ed s Clo 17 18
Classifieds
31
25
12
CE = continuing education hours
Wednesday
Thursday
6 P&C Pre-licensing Class
Friday
Saturday
ce i f f O ed s Clo 1
2
8
9
15
16
7 L&H Pre-licensing Class
13
14
E&O Workshop 8CE Hours
19
26
20
21
22
23
27
28
29
30
Where Will You Find Your Next Great Hire? Looking to fill a position within your agency? Trying to find a job but don’t know where to look? Whether you are looking for somewhere new to share your special skills or an employer looking for quality, professional employees, we are there to lend a helping hand. The staff at IIANM knows that “Teamwork Makes Us Stronger” and we want to help all interested individuals find that perfect fit. Click here to take advantage of IIANM’s Job Bank. Do you have an agency you’re trying to sell, or in the market to buy one? Check out our Classifieds!
Independent Insurance Agents of New Mexico - www.iianm.org - * January 2009
Page 27
You’re an independent agent.
Who’s got your back?
The Big “I” Professional Liability Program Protect. Prevent. Prosper. Our risk management resources keep your agency from making common preventable mistakes.
Our superior coverage through Swiss Re and our expert claims teams are in your corner in the event of a claim.
When you know you have the best agency E&O protection, you can focus on growing your most important asset–your business.
The Big “I” and Swiss Re are jointly committed to providing IIABA members with leading edge agency E&O products and services. The IIABA and its federation of 51 state associations endorse Swiss Re’s comprehensive professional liability program.
www.independentagent.com/EO
Insurance products underwritten by Westport Insurance Corporation, Overland Park, Kansas. Westport is a member of the Swiss Re group of companies and is licensed in all 50 states and the District of Columbia. ©2008 Big “I” Advantage, Inc. and Swiss Re
Od
ds
A much lower standard mileage rate for business driving in 2010: Just 50¢ per mile, down 5¢ from the 2009 rate, due to lower fuel costs.
n
Emergency Kits
The New Mexico Department of Homeland Security and Emergency Management is urging New Mexico drivers to be prepared for winter conditions by putting together an emergency kit. Department Secretary John Wheeler says kits should include at least a shovel, windshield scraper, flashlight, battery powered radio, extra batteries, water, snacks, matches, gloves and a blanket. Other items to consider are a first aid kit, necessary medications, a pocket knife and emergency flares.
En
ds
Wheeler is urging drivers to also check antifreeze levels, battery and ignition systems, brakes and tire tread.
Space Junk
A Solution That Just Might Hold Water
The junk problem in outer space is getting worse. With more than 20,000 objects orbiting the earth, more than 90 percent of them categorized as debris—and those are just the objects large enough to track—the Defense Advanced Research Projects Agency (DARPA) is looking for ideas for clearing the skies. No, a giant vacuum cleaner won’t do the trick, but a proposal from GIT Satellite Communications might: water. James Hollopeter, director of technology development at GIT, suggests launching rockets into space to dump large quantities of H2O. The debris would fly into the liquid barrier, which would slow it down until the trash drops into the atmosphere and burns up. DARPA is considering that option along with proposals from 11 other firms.
A resolution for fiscal fitness in
2010
Most New Year’s resolutions revolve around getting fit. Although that frequently means losing weight, one area you want to fatten up is your money supply. Here are some simple resolutions for adding some healthy heft to your overall financial profile: • Pay down your mortgage. You can save more than $63,000 on a 30-year, $200,000 mortgage by paying just $100 more a month. • Save 10 percent. Put aside 10 percent of your income for long-term investments and retire¬ment savings before paying any bills. • Track your expenses. Record every dollar you spend, for at least one week. You’ll get a clearer idea of where the money goes and what you can cut back on. • Energize your house. Look for ways to make your house more energy efficient. You’ll save on heating and cooling costs and also help the environment. • Stay home. Resist the temptation to eat out. Cook more meals at home. Instead of going to the movies, rent a video, read a book, or a play a game with your whole family. • Don’t rely on credit cards. Credit card debt can eat up your savings and your future. Start reducing your debt, and don’t buy anything on credit if you don’t have the money to pay the bill off promptly.
a very special thank you to iianm’s partners The following companies have committed to support IIANM events throughout the year:
Diamond New Mexico Mutual is the state’s expert in workers’ compensation insurance and the preferred provider of the Independent Insurance Agents of New Mexico. New Mexico Mutual is recognized as an industry leader in customer service, advocacy, and integrity; providing protection for employees and security for New Mexico’s businesses. Adding three new companies in 2009 to the Group, New Mexico Mutual provides agents a comprehensive portfolio to meet your customers’ workers’ compensation insurance needs.
Gold ACUITY, headquartered in Sheboygan, Wisconsin, is a property and casualty insurer that operates in nineteen states, writes $750 million in premium through over 900 independent agencies, and manages $2 billion in assets. The only company in the nation to be named six consecutive years to the Great Place to Work Institute’s top five mid-sized companies, ACUITY employs 850 people. Builders Trust has been offering quality residential and light commercial workers’ compensation coverage since 1987 as a proud affiliate of New Mexico Home Builders Association. We offer many services designed specifically for New Mexico Contractors right here in your backyard. Participants in the Fund are owners and they can rest assured that their premium dollars are pooled for New Mexico injured workers. At Mountain States, we are dedicated to helping protect the assets of our policyholders by providing them with sound, affordable insurance products. We do this through an expanding network of professional independent agents. We believe in sustaining a strong chemistry with our agents and policyholders. It is our prime reason for narrowing our focus to the Mountain States/ Southwest region.
Silver Bronze
More information can be found about IIANM’s Partner Program by visiting our website at iianm.org or calling Lorri Gaffney at (505) 999-5805.