the ct independent agent - 12-01-11
DESCRIPTION
December edition of monthly magazineTRANSCRIPT
The Connecticut Independent Agent
December 2011
The Connecticut Independent Agent
This Issue’s Features
IIAC Mid-Year Convention Overview 03 Congratulations to our Winners at the Mid-Year Convention 05 Sponsors of the IIAC Mid-Year Convention 06 Exhibitors at the IIAC Mid-Year Convention 07
Photos from Mid-Year Convention 08
Free Agency E&O Risk Management Webinar 11 Big “I” Praises NAIC Resolution on Medical Loss Ratios 12 InsurBanc - Leasing: A Seamless Customer Experience 12 Reagan Survey: Accelerating Organic Growth is Driving Agency Values Higher 13 Flood Zones / Flood Maps 13 Month In Review - Insurance Department Bulletins 14 RLI Stand Alone Personal Umbrella 17 Swiss Re 17
In Every Issue
December and January Continuing Education Courses 15
Events 18
Big “I” Advantage Programs 19
2010 - 2011 Officers 21
Committees 21
About Us 26
Associate Member Index
Associate Members - Insurance Brokers & Services 22
Associate Members - Insurance Companies 24
“The Connecticut Independent Agent
is the official publication of the Independent Insurance Agents of Connecticut
30 Jordan Lane Wethersfield, CT 06109 Phone: (860) 563-1950 Fax: (860) 257-9981
www.iiact.org
Warren C. Ruppar President
Tracy Hearn Office Manager / Event Planner
Ed Meaney, CPCU Education Director
Laura Szatkowski E&O Program Administrator
Rosemary Mullaly
Lawyers’ Liability Program RLI
This publication is intended to provide accurate and authoritative information on the subject matter covered. It is dis-tributed with the understanding that nei-ther IIAC, nor any contributing author, publisher or contributor is rendering le-gal, accounting or any other professional service and assume no liability whatso-ever in connection with its use. Further, the electronic links to our associate mem-bership found in this publication are pro-vided as a courtesy to our readers and do not necessarily indicate an endorsement by IIAC. News items will be accepted / printed at the discretion of the IIAC. No paid advertisements are accepted in this publication. Please contact Warren Ruppar for further information.
IIAC Staff
Independent Agents Services Staff
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 3
Transparency In order to ensure more transparency within the depart-ment, Deputy Commissioner Dowling referred to the de-partment’s dramatically improved website. The site now includes a questions/complaints section, paperless licens-ing, an interactive public comment section, long-term rate care filing and a social media component. The site can be viewed at www.ct.gov/cid. Weather Disasters Deputy Commissioner Dowling spent much time talking about the recent major storms to hit Connecticut – Tropical Storm Irene in September and the winter snow storm at the end of October – and pointed out that the department is working with the Federal Emergency Management Agency (FEMA) on storm recovery efforts. She added that there were more than 6,500 public adjusters ready to go after the recent snow storm. Moving forward, the Deputy Commissioner said there is need for more clarity in guidelines concerning hurricane deductibles, and added that the department is getting ready to launch a Public Service Announcement regarding the storms and weather-related emergencies. Deputy Commissioner Dowling’s remarks were greatly ap-preciated by IIAC members, and we thank her for taking part in the convention.
MICHAEL DONAHOE – IIABA CHAIRMAN
Michael Donahoe, IIABA Chairman and a native/resident of Minnesota, covered plenty of ground in his address to at-tendees, touching on the current state of the industry, the Trusted Choice brand, the impact social media is having on insurance and the national ongoing effort by agents to compete with online insurance companies. Chairman Donahue said the IIABA universe is currently 23,000 agencies that employ 300,000 people. The Big I re-mains a vital force on the landscape, he said, able to assist in legislative advocacy, identity and branding, helping to identify opportunities as well as threats, and educating its members.
On November 10, 2011, more than 400 IIAC members, as-sociate members, and industry representatives gathered at the Aqua Turf in Southington for the annual IIAC Mid Year Convention. The event was informative and topical, focus-ing on numerous issues currently on the minds of Connecti-cut’s insurance agents, including storm coverage, health care reform, technology and the burgeoning social media market. IIAC Chairman Tom Wilson and President Warren Ruppar were very pleased with how the day turned out, and members walked away with plenty of much-needed information concerning what the future holds for the state’s independent insurance agents. IIABA National Chairman Michael Donahoe, Connecticut Insurance Department Deputy Commissioner Anne Melissa Dowling, and IIABA Consumer Agent Portal (CAP) Commit-tee Chairman Thomas Minkler were the featured speakers at this year’s event. What’s more, a panel of industry lead-ers from around the country – moderated by Tom Wilson – addressed numerous key areas of concern for agents, which also was greatly appreciated by those in attendance. The Mid Year Convention was as energetic and informative as it was well-attended, and it once again proved to be a great success that left IIAC optimistic about the year to come.
ANNE MELISSA DOWLING – DEPUTY COMMISSIONER, CONNECTICUT INSURANCE DEPARTMENT
The Deputy Commissioner ad-dressed numerous important issues during her speech to IIAC members, starting with the re-cent storms that have devastated parts of Connecticut before touching on topics such as trans-parency and health care reform. Overall, Deputy Commissioner Dowling spoke of how the state’s growing insurance market is a strong focus of the Malloy Administration. While the Insurance Department is one of the state’s smaller departments, Connecticut is ranked number one nationally in per capita insurance jobs, and is number two nationally in all written premiums. “This busi-ness sector is vital to the overall economy,” Deputy Com-missioner Dowling assured the attendees.
Legislative Update Mid Year Convention Edition
“Our number one mis-sion is to protect the consumer. One of the best things we can do for the consumer is to make sure we have a broad, competitive in-dustry for Connecticut.” – Deputy Commissioner Dowling
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 4
Create an alliance of agents and carriers to align their strengths and work together to advance the agent/agency brand
Mr. Minkler outlined the many benefits of CAP and the en-hanced web presence, including online education, solid web content and internet tools, professional services and preparation for member agents. Using the portal consum-ers will be able to find:
Agent Locator
Agency Profiles
Comparative Ratings
Consumer Education
Mobile Application “If we change, we win,” Mr. Minkler said. DISCUSSION PANEL This year’s panel discussion was chaired by IIAC Chairman Tom Wilson and included three prominent industry profes-sionals - Robert Courtemanche, President, ACE Private Risk Services; Marita Zuraitis, President, P&C Companies, Hano-ver Insurance Group; and Douglas Elliot, President, Com-mercial Markets, The Hartford. The panel engaged in a spirited, broad-based discussion on where the industry currently is and some major issues fac-ing it. Topics including weather-related coverage, the in-creased use of technology, current market conditions and what the next 12 months may look like for IIABA/IIAC mem-bers. Overall, Tom Wilson and Warren Ruppar agreed it was an excellent Mid Year Convention that was filled with valuable information, and thanked the more than 400 people in at-tendance for helping make it as successful as it was. We would like to thank our sponsors and exhibitors for their participation in the convention.
One of the largest challenges today is being able to com-pete with the online companies, and Chairman Donahoe said the Trusted Choice brand can help to drive agents to success. He said Trusted Choice should be viewed “not as a noun, but as an adjective,” as an easy way for potential cus-tomers to identify member agents as the best and most reliable in the business. Social Media – Facebook, Twitter and LinkedIn – has taken hold of the agents’ market, though Chairman Donahue said that while new agents and agencies are more apt to use social media, the entire industry is still lagging behind. The key way that IIABA is attempting to get agents “back into the game” is through the Consumer Agent Portal (CAP – more is mentioned on this below under Thomas Minkler’s remarks), which is a new online consumer service that al-lows customers to find a Trusted Choice agent, review a list of agents and agencies, and get a quote. It is a direct ac-cess route to the agent that IIABA is confident will help our members compete against the strictly online market.
THOMAS MINKLER – CAP COMMITTEE CHAIRMAN
Expanding on the value provided by the new Consumer Agent Portal (CAP), Thomas Minkler talked of its many benefits to both the customer and the agent, referring to it as a “bold, game-changing initiative.” The mission of CAP is to give agents the opportunity to talk to people, tell them their story and turn them into clients, Mr. Minkler said. This is a way for IIABA members to adapt to an online world where customers are being lost. In Con-necticut, he said, the IIAC’s share of personal line market has decreased from 51.3% in 2005 to 47.8% today. “Why are we losing ground? Even though we still have more choices, better service and real advocacy?” Mr. Min-kler asked. “We haven’t changed, but the consumer has.” What’s more, 75% of consumers today start their search for auto insurance online, as opposed to looking locally for an agent. And Trusted Choice agents simply do not show up in those online searches as prominently as strictly online com-panies do. This is where CAP comes in, Mr. Minkler said – it is an online strategy to compete in the digital terrain. The vision of CAP is to:
Compete and expand the market share using digital marketing
Use national digital strategies to compete locally
As always, we are available to respond to your sug-gestions, questions and concerns. The 2012 Legislative Session begins February 8, 2012 and runs through May 9. We will continue to issue Legislative Update will continue to keep you informed on insurance-related legislation in progress at the Capitol during the session.
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 5
In addition to the numerous door prizes given out by our generous exhibitors, IIAC awards prizes to the atten-dees in our exhibit hall. The winners of the $100 cash prizes were:
Rocco Camera, Shoff Darby Agencies Deborah Jones, Burns, Brooks & McNeil Bill Malloy, William F. Malloy Insurance
Janice Mauriello, Tracy-Driscoll Insurance Rachel Potter, Serra, Delvecchio & Elliott
Congratulations to the winner of our $500 Grand Prize, sponsored by InsurBanc
Maria Wilson, Housing Authority Insurance Services
An on-line convention program book is available for viewing on the “Mid-Year Convention” page of our website which is located under the “Events” section.
CONGRATULATIONS TO OUR WINNERS AT THE MID-YEAR CONVENTION!!!
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 6
PLATINUM SPONSORS
ACE Private Risk Services www.aceprivateriskservices.com
Connecticut Underwriters www.ctunderwriters.com
Crystal Restoration Services of Connecticut
www.crystal1.com
Hanover Insurance www.hanover.com
The Hartford - SNERO www.thehartford.com
Independent Agents Services, Inc. www.iiact.org
InsurBanc www.insurbanc.com
MEMIC www.memic.com
MiddleOak www.middleoak.com
S.H. Smith & Co., Inc. www.shsmith.com
Swiss Re www.swissre.com
Travelers www.travelers.com
GOLD SPONSORS
Acadia Insurance www.acadiainsurance.com
AmTrust North America Inc. www.amtrustgroup.com
The Andover Companies www.andovercos.com
Central Insurance Companies www.central-insurance.com
Chubb Group of Insurance Companies www.chubb.com
Computer Rescue, Inc. www.rescueworld.com
Harleysville Insurance www.harleysvillegroup.com
Iroquois New England, Inc. www.iroquoisgroup.com
Kemper Preferred www.ekemper.com
LexisNexis www.lexisnexis.com/insuranceexchange
Main Street America Group / NGM Insurance
www.msagroup.com
Peerless Insurance www.peerless-ins.com
Plymouth Rock Assurance Corp. www.plymouthrock.com
Progressive Insurance Company www.progressiveagent.com
QBE www.qberegional.com
Quincy Mutual www.quincymutual.com
Safeco Insurance Company www.safeco.com
Steamatic of Connecticut www.steamaticct.com
Union Mutual of Vermont www.unionmutual.com
Utica National Insurance Group www.uticanational.com
2011 Mid-Year Convention SPONSORS
SILVER SPONSORS
American Commerce Insurance Company
www.acilink.com
AmTrust North America Inc. www.amtrustgroup.com
Auto Glass of New England, LLC www.autoglassofnewengland.com
C.N.A. www.cna.com
Crystal Restoration Services of Southington
www.crystalrestorationct.com
JN Phillips Auto Glass www.jnphillips.com
NLC Insurance Companies www.nlcinsurance.com
The Providence Mutual Fire Insurance Co.
www.providencemutual.com
Renaissance Insurance Group www.renaissanceins.com
State Auto Insurance Companies www.stateauto.com
United Cleaning & Restoration www.unitedcr.com
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 7
American Institute for CPCU www.theinstitutes.org
American Society of Appraisers www.appraisers.org
AmTrust North America, Inc. www.amtrustgroup.com
Applied Systems, Inc. www.appliedsystems.com
Asterisk Financial, Inc. www.personalguarantee.com
Astonish Results www.astonishresults.com
Auto Glass of New England www.autoglassofnewengland.com
B.H. Burke & Co., Inc. www.bhbco.com
BankDIrect Capital Finance www.bankdirectcapital.com
Broadway Premium Funding Corporation
www.broadwaypremium.com
Chroma Building Corp. www.chromabuilding.com
Coastal Agents Alliance www.coastalagentsalliance.com
State of Connecticut Insurance Department
www.ct.gov/cid
Connecticut Underwriters, Inc. www.ctunderwriters.com
Crystal Restoration Services of Connecticut
www.crystal1.com
Crystal Restoration Services of Southington
www.crystalrestorationct.com
Deep South www.deep-south.com
Empire State Brokerage Services www.empirebrokerage.com
Enviro-Clean, Inc. www.envirocleaninc.net
Fidelity National Indemnity Insurance Co. www.fidelityonline.com
FirstComp www.firstcomp.com
FSC www.fscrating.com
FutureComp www.tdbank.com
Housing Authority Insurance Group www.housingcenter.com
Independent Agents Services www.iiact.org
Independent Insurance Agents of CT www.iiact.org
Insurance Agency Accounting & Bookkeeping
www.insuranceagencyaccountants.com
Iroquois Group www.iroquoisgroup.com
Irwin Siegel Agency, Inc. www.siegelagency.com
JN Phillips Auto Glass
www.jnphillips.com
JP Maguire www.fixmydamage.com
The Managing Agency Group / AmWINS www.mag-eb.com
Markel Corporation www.markelinsurance.com
The McGowan Companies www.mcgowancompanies.com
MEMIC www.memic.com
National Association of Insurance Women dba IAIP
www.ctcouncilnaiw.org
New England Excess Exchange www.NEEE.com
2011 Mid-Year Convention EXHIBITORS
Northeast Coverages, Inc. www.northeastcoverages.com
Payless Auto Glass www.paylessautoglass.com
PersonalUmbrella.com www.personalumbrella.com
Plymouth Glass & Mirror, Inc. www.plymouthglass.com
Premium Assignment Corp. www.premiumassignment.com
Renaissance Insurance Group www.renaissanceins.com
Robert Hensley & Associates www.hensleyassociates.com
Russell Bond & Co., Inc. www.russellbond.com
Safelite Auto Glass www.safelite.com
ServiceMaster Clean www.servicemasterclean.com
S.H. Smith & Company, Inc. www.shsmith.com
Steamatic of Connecticut www.steamaticct.com
TAPCO www.gotapco.com
The Thompson Agency, Inc. www.thompsonagency.net
Totally Dry . . . Totally Fast www.wedrifast.com
United Cleaning & Restoration www.unitedcr.com
US Premium Finance www.uspremiumfinance.com
Utica National Insurance Group www.uticanational.com
Work at Home Vintage Employees www.wahve.com
Workers' Compensation Trust www.wctrust.com
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 8
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 9
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 10
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 11
Please join the Big “I” Professional Liability Program’s endorsed carrier, Swiss Re and guests, for a free webinar on Wednes-day, December 7th, 2011 at 2 p.m. Eastern Time to learn more about the exposures facing agencies today from data breaches and cyber liability. The webinar will last about an hour and all agency staff including agency owners and managers, as well as producers and CSR’s, can benefit from attending this FREE member webinar. CLICK HERE to register today! Liability from cyber-attacks is on the rise and the media is constantly reporting on companies being hacked, exposing pro-tected personal information. As an insurance agent you collect, use, and store personally identifiable information on a daily basis and in doing so have exposure to both regulatory penalties and potential first and third party liability if you don’t appro-priately secure customer information. The cost associated with data breaches can be staggering with potential fines, legal fees, costs of customer notification, and probably most damaging the loss of trust of customers. We’ve assembled an excellent group of panelist to discuss key considerations agents should be thinking about when it comes to their exposures associated with protecting customer data. Join the webinar and learn about:
How state and federal laws impact an agent’s responsibility to protect customer data, including real examples along with resources available for learning more about specific laws.
What data is considered personally identifiable information and an average agency’s areas of exposure.
Accepted methods for protecting against the agency’s internal and external exposures.
The free member resources focusing agency privacy and security provided by the Agents Council for Technology.
Coverage available to agents for liability created from a data breach.
Key considerations in agencies offering Cyber Liability coverage to their customers Panelists:
Celeste King - Partner with the Chicago-based law firm of Walker Wilcox Matousek LLP.
Steve Arsonson – President and CEO of Aronson Insurance Agency, Inc.
Tim Woodcock –President and CEO of Courtesy Computers, Inc.
Jeff Yates – Executive Director of IIABA’s Agents Council for Technology (ACT).
Alex E. Wayne – Executive Vice President of A.J. Wayne and Associates, Inc.
Susan Dowdall – Senior Vice President at Swiss Re Corporate Solutions
Note: This webinar is not filed for continuing education credits. The webinar will be recorded for future usage.
Free Agency E&O Risk Management Webinar - Managing Agency E&O Exposure to Data Breaches and Cyber Liability
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 12
The Independent Insurance Agents & Brokers of America has expressed support for a National Association of Insur-ance Commissioners (NAIC) resolution asking Congress and the U.S. Department of Health and Human Services (HHS) to take action to provide relief for agents and brokers from the medical loss ratios (MLRs) as enacted under the Patient Protection and Affordable Care Act. “The Big ‘I’ applauds the NAIC for its recognition of the det-rimental impact the MLR calculation has had on independ-ent insurance agency small business owners, consumers, and their agents and brokers,” says Robert Rusbuldt, Big “I” president and CEO. “If the MLR formula is not corrected soon, consumers will suffer the prospect of losing the pro-fessional, licensed guidance of insurance agents during this time of great change in the health insurance market.” Since the MLR rules went into effect they have created tre-mendous upheaval in the marketplace. The effect on agents and brokers in particular has been damaging as many insurance carriers have significantly cut their agent compensation in an effort to meet these new regulations. This has in turn reduced consumer access to agents and brokers, leading to a detrimental impact on essential ser-vices provided for consumers such as guidance in claims processing and tailoring health plans to fit the needs of in-dividuals and small businesses. “We urge Congress and HHS to take note of this important action by the NAIC and move forward with immediate relief from the MLR regulations for agents and brokers,” says Charles E. Symington, Big “I” senior vice president for gov-ernment affairs. “Congress can provide a permanent and proper fix by removing agent compensation from the MLR calculation, but meanwhile HHS has the power to relieve the downward pressure on agent compensation through regulatory action. The Big ‘I’ will continue to work with Congress, HHS and the NAIC as well as other stakeholders to protect consumers and the livelihoods of our small busi-ness membership.”
BIG “I” PRAISES NAIC RESOLUTION ON MEDICAL LOSS RATIOS
Commissioners ask Congress and HHS to act to protect consumer access to agents and brokers.
Leasing: A Seamless Customer Experience
But don’t take it from us. Listen to your peers. Agents Express Leasing is an effective solution to manage your clients’ needs with today’s best equipment technol-ogy. Jay Byrnes of Byrnes Agency experienced how easy our leasing solution is for his agency: “As a longtime member of the “Big I”, I always knew of In-surBanc and their commitment to the independent insur-ance agent. Recently we wanted to update the agency with a new computer network and desktops, so I turned to In-surBanc for leasing options. From start to finish I experienced firsthand how seamless it was to conduct business with them. We have a 35 person agency so to update everyone’s computers was a decent size upgrade. InsurBanc made the process very easy and offered attractive terms and competitive rates which helped to manage the agency’s cash flow”. – Jay Byrnes ~ Byrnes Agency How it works:
Lease terms are 24, 36, 48 or 60 months with a mini-mum transaction of $5,000 You can finance most out-of-pocket expenses, such as installation, freight, software and training No down payments or advance payments are required Monthly payments can be customized to meet your special business needs
We invite you to see for yourself. Contact us today for help preserving your cash flow with an equipment lease solu-tion. Please visit our website at www.insurbanc.com or contact one of our Relationship Managers at 800-957-0858 Agents’ Express Leasing is a program of De Lage Landen Financial Services, Inc, benefitting InsurBanc clients. Lease financing is subject to lessee credit, vendor, and equipment approval by De Lage Landen. This is not a commitment to lend. Other terms and conditions may apply.
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 13
and the outlook for the industry continues to improve,” says Bobby Reagan, CEO of Reagan Consulting. “We are grateful for the many firms who choose to participate in the OGP Survey each quarter.” The Organic Growth and Profitability Survey was launched in 2008 and stands as the industry’s go-to source for real-time quarterly data for mid-size and large insurance bro-kers. Over 130 agencies participated in the 3rd quarter sur-vey, including nearly half of the firms listed on the Business Insurance Top 100 list. Survey participants receive a confi-dential, customized comparison of their quarterly financial results against those of the rest of the industry. For more information about participating in the OGP Survey, contact S h i r l e y L u k e n s a t 4 0 4 - 2 3 3 - 5 5 4 5 , o r [email protected]
Reagan Consulting (Reagan) announced in November the results of its 3rd Quarter Organic Growth and Profitability Survey (OGP Survey), which found that steadily improving organic growth rates are increasing equity returns for insur-ance agents and brokers. “The results of this quarter’s OGP Survey affirm a growing sense among agents and brokers that conditions are im-proving for our industry. Organic growth through the first nine months of 2011 is 3.8%, which is 2.8 percentage points above the results from last year,” says Kevin Stipe, senior vice president of Reagan. “The combination of continued growth in the economy and an improving rate environment in commercial P&C is helping agencies grow at the fastest rate since 2006.” Other findings from the 3rd Quarter OGP Survey include:
Organic growth accelerated in all major product lines. Through the first three quarters of 2011, em-ployee benefits is the fastest growing segment at 6.1%. Commercial lines and personal lines grew at 3.1% and 1.7%, respectively. Profit margins for brokers actually declined slightly from a year ago (19.5% this year versus 20.4% last year). Profit margins are measured using Earnings Before Interest, Taxes, Depreciation and Amortiza-tion (EBITDA), and are adjusted for non-recurring items and owner-discretionary expenses. Rule of 20 scores reached 13.1, the highest level since the OGP Survey was launched in 2008. The Rule of 20 is a Reagan Consulting benchmark that correlates with value creation and is calculated by adding an agency’s organic growth rate to ½ of its EBITDA margin. A score of 20 is outstanding in to-day’s marketplace, and is only currently being reached by about 15% of agencies nationwide. Of the three major product lines, employee benefits once again had the highest Rule of 20 score, fol-lowed by personal lines then commercial lines.
“While the organic growth and profitability numbers are still relatively low compared with historical norms, they are vastly improved from the dark days of 2009 when organic growth was negative and profit margins bottomed out. There is no question that agencies are getting stronger
Reagan Survey: Accelerating Organic Growth Is Driving Agency Values Higher
The federal government has released updated preliminary Flood Insurance Rate Maps (FIRM) that have moved 800 Milford properties into the flood zone, which means those property owners will need to obtain flood insurance. Assistant City Planner Emmeline Harrigan said these prop-erty owners will not be mandated to obtain flood insurance until the maps are formally adopted, a process that could take up to one year. Information on flood insurance is available online at floodsmart.gov. Harrigan wants people to be aware of the new maps so they can obtain insurance through the NFIP, which she said would be cheaper to buy during a phase-in period for the new maps. As city offi-cials have time to work with the new maps, they will be contacting affected property owners. To read the entire article as it was published in the Milford Mirror, please click here.
Flood Zones / Flood Maps: New flood maps will put
more properties in flood zones (Milford Mirror, Milford, CT)
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 14
MONTH IN REVIEW
November 2, 2011 - Weather Related Event or Other Disaster
Reissued Insurance Commissioner's Bulletins - IC-34 - Weather related event or other disaster
For more information on this bulletin, please click here.
Insurance Department Bulletins & News Releases
REMINDER NOTICE: PRODUCER’S LICENSES ARE NO LONGER MAILED and APPLICATIONS FOR LICENSES ARE NOW PAPERLESS
Effective December 1, 2010, the Insurance Department stopped mailing hard copies of licenses. Licenses are now to be printed by the producer. The Print License option may be found under “Verify and Print a License” on their website at http://www.catalog.state.ct.us/cid/CLIC/VerifyLicense.aspx
Effective August 1, 2011 applications for licensing began being accepted and processed online only.
The online system will apply to new, reinstatement and amendment applications only for: Producer (Residents Only) Surplus Lines Broker Casualty Claim Adjuster Certified Insurance Consultant Life Settlement Broker Motor Vehicle Physical Damage Appraiser Public Adjuster Reinsurance Intermediary
Beginning August 1, applications must be completed online at CID Licenses Online.
For more information on the August 1 licensing change, contact the CID Licensing Division at 860-297-3845 or by e-mail at [email protected]
ATTENTION PRODUCERS:
Non-resident producer applications must be completed at National Insurance Producer Registry (NIPR)
Resident producer may also complete their applications at National Insurance Producer Registry (NIPR)
Resident and non-resident producer renewals must be completed at National Insurance Producer Registry (NIPR)
Insurance Department Website
Lists of current bulletins are available for viewing on the Connecticut Insurance Departments website.
For more information, please visit the CID website: http://www.ct.gov/cid/cwp/view.asp?a=1255&Q=254256
November 29, 2011 - Commissioner Leonardi to Serve on NAIC Executive Committee - Elected as Secretary for the Northeast Zone
News Release issued on November 29, 2011
For more information on this new release, please click here.
A COMPLETE ANNUAL CALENDAR CAN BE OBTAINED ON THE “EDUCATION” PAGE OF OUR WEBSITE
CONNECTICUT CONTINUING EDUCATION REQUIREMENTS
All resident agents are subject to continuing education for every line of authority.
The Connecticut Insurance Department has an extensive website (www.ct.gov/cid) offering information on licensing, forms, statutes, regulations (proposed and finalized) Please take advantage of this web site for valuable information.
Individual transcript information can be obtained by accessing www.sircon.com. Once on the website, select “For Individual Agents” from the “Products and Services” menu. Under “Quick Start for Agents” (at the top of the page) select “Look Up Education Courses / Credits.” This will bring you to an “Inquiries” page. Select “Continuing Education Transcript Inquiry.” Select “Connecticut” from the drop-down menu. Enter your license number and last name and click “submit.” You will now be able to view and print your transcript. Please note that transcripts are only accessible using producer license numbers. Social Security numbers are no longer usable.
Flood Insurance Course Requirement Newly licensed agents are required to complete a flood program course during their first compliance period.
Sun Mon Tue Wed Thu Fri Sat
1 2 3
4 5 6 7
Laws, Regulations
& Ethics 8:30 - 12:10
8 9 10
11 12 13 14
ACSR #8 Commercial
Auto 8:30 - 4:30
15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31
A COMPLETE CALENDAR CAN BE OBTAINED ON THE “EDUCATION” PAGE OF OUR WEBSITE
A COMPLETE ANNUAL CALENDAR CAN BE OBTAINED ON THE “EDUCATION” PAGE OF OUR WEBSITE
CONNECTICUT CONTINUING EDUCATION REQUIREMENTS
All resident agents are subject to continuing education for every line of authority.
The Connecticut Insurance Department has an extensive website (www.ct.gov/cid) offering information on licensing, forms, statutes, regu-lations (proposed and finalized) Please take advantage of this web site for valuable information.
Individual transcript information can be obtained by accessing www.sircon.com. Once on the website, select “For Individual Agents” from the “Products and Services” menu. Under “Quick Start for Agents” (at the top of the page) select “Look Up Education Courses / Credits.” This will bring you to an “Inquiries” page. Select “Continuing Education Transcript Inquiry.” Select “Connecticut” from the drop-down menu. Enter your license number and last name and click “submit.” You will now be able to view and print your transcript. Please note that transcripts are only accessible using producer license numbers. Social Security numbers are no longer usable.
Flood Insurance Course Requirement
Sun Mon Tue Wed Thu Fri Sat
1 2 3 4 5 6 7
8 9 10
Laws, Regulations
& Ethics 8:30 - 11:10
11 12
ACSR #4 E & O
Loss Control 8:30 - 4:30
13 14
15 16 17Property &
Casualty Pre-Licensing
Day 1 8:30 - 4:30
18
ACSR #10 Life Insurance
8:30 - 4:30
19Property &
Casualty Pre-Licensing
Day 2 8:30 - 4:30
20 21
22 23 24Property &
Casualty Pre-Licensing
Day 3 8:30 - 4:30
25
Life & Health Pre-Licensing
Day 1 8:30 - 4:30
26Property &
Casualty Pre-Licensing
Day 4 8:30 - 4:30
27 28
29 30 31Property &
Casualty Pre-Licensing
Day 5 8:30 - 4:30
A COMPLETE CALENDAR CAN BE OBTAINED ON THE “EDUCATION” PAGE OF OUR WEBSITE
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 17
For more information on the RLI Personal Umbrella program, contact Rose Mullaly at
860-563-6510 or
[email protected] Or visit the “Member Resources”
page of our website www.iiact.org
This year RLI has been working hard to provide you with
the tools you need to place coverage with them. They
have added Uninsured Motorist coverage, The PUP ACCESS
system to monitor your RLI business, the PUP Special rating
tier that allows placement of your more difficult to place
prospects and as always, they will write coverage over
households with no personal automobiles.
Another improvement is RLI’s new easy to use website,
www.rlipersonalumbrella.com. Please add it to your fa-
vorites list! This is something many of you asked for and
RLI has delivered a site that is simple and easy to get a
quote quickly.
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 18
2012 IIAC EVENTS
Spring Conference
Sponsored by the IIAC Young Agents Committee May 2012
Exact Date, Location & Program TBA
Annual Dinner Meeting and Installation of Officers
June 7, 2012 St. Clement’s Castle, Portland, CT
23rd Annual Golf Tournament
Sponsored by the IIAC Young Agents Committee August 2, 2012
Blackledge Golf Course, Hebron, CT
Mid-Year Convention November 8, 2012
Aqua Turf Club, Plantsville, CT
Additional information and registration forms for the above events can be obtained by clicking on the event name above, going to the “Events” page of our website or by contacting Tracy Hearn at 860-563-1950 or emailing to [email protected].
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 19
Big “I” Professional Liability As a member of your state association, you have access to the Big “I” Professional Liability program, the most respected and comprehensive program in the business offering a variety of insurance agent’s E&O products that are hand-selected for their superior reputation and exceptional performance. With comprehensive rates and a long-term market, the Big “I” Profes-sional Liability program is properly positioned to meet your professional needs, protecting the future of your agency. www.iiact.org - Member Resources page / Or call Laura Szatkowski at 860-563-6510
Big “I” Markets Exclusively available to Big “I” members, IIABA’s online market access program features specialty/niche coverages, program business and hard-to-find markets. Unlike similar programs, there are no registration fees, no volume commitments and competitive commissions. www.bigimarkets.com
Big “I” Flood Big “I” Advantage operates as a managing general agency and agents participate as sub-producers for the Big “I” Flood Pro-gram. Selective Insurance Company is our provider for this NFIP Write-Your-Own program and they make writing flood insur-ance easy and profitable leaving the method of quoting up to the agent. www.independentagent.com/flood.
Big “I” Retirement/Benefits Having trouble deciding which retirement plan is right for you or your agency? Big "I" Retirement Services is here to help you choose which plan best meets your circumstances. They offer quality investments, state of the art administration and the support of your association as an advocate for your agency. Look to us also for Group Long Term Disability, Group Short Term Disability and Group Term Life Insurance. www.independentagent.com/retirement .
RLI RLI's Personal Umbrella Policy stands atop your client’s existing homeowner and auto insurance to provide an extra layer of personal liability protection. With RLI's PUP program, auto or home coverage can be maintained with any insurance company provided the mandatory minimum underlying coverage limits are met. RLI’s @Home Business policy, responds to the needs of over 100 eligible business classes on an ISO BOP form. Premiums starting at $150, competitive commissions, easy under-writing and a self-rating application should makes this product an easy sell. www.iiact.org - Member Resources page / or call Rose Mullaly at 860-563-6510.
Business Resources Enjoy group discounts for a variety of services to assist in managing your agency. Caliper (employee testing) ; DHL (express delivery); Mines Press (printing); Big “I” Store (logowear); Hertz (car rental); Artizan Internet Services (Service 911, CSR 24). www.independentagent.com.
OF ALL YOUR MEMBERSHIP HAS TO OFFER??
ARE YOU TAKING
ADVANTAGE
??
?? Big “I” Advantage Programs
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 20
InsurBanc InsurBanc is an independent community bank founded by agents exclusively for agents. You can rely on InsurBanc for custom products designed to underwrite your success, like acquisition and perpetuation financing and cash management services perfectly suited to the way you do business. www.insurbanc.com.
Virtual University www.independentagent.com/vu
Research Library For those who seek a smarter way to research, the VU provides access to hundreds of insurance, business and technology articles written by volunteer faculty and other contributors. Technical insurance articles and white papers on issues affecting today’s marketplace, often include links to full sample ISO forms. Resources in the VU are limitless.
Ask an Expert Service Sometimes you need answers to questions that can't be found in the research library. To help with these "just in time" is-sues, we have assembled a faculty of leading experts from around the country. Big "I" Members can submit questions to our "Ask an Expert" service and a response is usually sent within 3-5 business days, but often sooner.
Online Courses The VU offers a wide variety of online classes to enhance and expand insurance technical and business skills. Many designa-tion programs are also available through the Virtual University.
Best Practices The Best Practices program provides member agents with meaningful performance benchmarks and business strategies that can be adapted to improve the performance of your agency, thus enhancing agency value.
Trusted Choice®
In a world full of millions of media messages each day, differentiating the services of independent agents and brokers to con-sumers is critical. Trusted Choice®, the national consumer branding program sponsored by the Big “I”, uniting more than 10,000 independent agency locations and 53 insurance companies. Based on extensive consumer and industry research, Trusted Choice® highlights the value of the independent agent distribution channel: choice, customization and advocacy. www.trustedchoice.com
Governmental Affairs The Big “I” is your advocate on the issues that matter to your success, whether the issues occur in state legislatures, Washing-ton D.C., your state insurance department, the NAIC, or the judicial system. Through common-sense, pragmatic legislative initiatives, we seek to protect your business while keeping the consumer in mind.
OF ALL YOUR MEMBERSHIP HAS TO OFFER??
ARE YOU TAKING
ADVANTAGE
??
?? Big “I” Advantage Programs
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 21
2011 - 2012 Officers
Chairman Tom Wilson
The Wilson Agency, Shelton
Chairman-Elect Michael Gergler, CIC
Wilcox & Reynolds, Storrs
Treasurer Jim Suzio, CIC
Suzio Insurance Center, Inc., Meriden
Secretary Kim McGillicuddy, CPCU
Pierson & Smith, Inc., Norwalk
State Director Jay Byrnes
Byrnes Agency, Dayville
IIAC Committees The Independent Insurance Agents of Connecticut has several committees which are dedicated to furthering both the benefits of membership and the professionalism of individuals within the insurance industry. Committee members are volunteers who are either an owner or an employee of a member agency. IIAC is always looking for new individuals to serve on its committees. If you are interested in becoming a committee member, please com-plete the information below and return this form to: IIAC, 30 Jordan Lane, Wethersfield, CT 06109 or email to the committee staff liaison
Name: ___________________________________________________________________________________
Agency & Full Address: ______________________________________________________________________ Phone: (______)__________-__________ E-Mail: _____________________________________________
Indicate Committee: ________________________________________________________________________
Education Committee – members help create IIAC programs and locate teachers and resources. Staff Liaison, Ed Meaney, [email protected] Executive Committee – members must be a principal in an IIAC member agency and are part of the governing body of the association. Membership on the committee is limited and must be voted upon by the Board of Direc-tors. Staff Liaison, Warren C. Ruppar, [email protected] Technical Committee – members analyze current industry topics and issues, make recommendations on how to handle, and funnel information to the Education Committee to create programs. Staff Liaison, Ed Meaney, [email protected] Young Agents Committee – members create networking programs to promote young professionals in the insur-ance industry. Staff Liaison, Tracy Hearn, [email protected]
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 22
Absolute Logic 917-658-9008
www.absolutelogic.com
ACE Private Risk Services 860-828-7931
www.aceprivateriskservices.com
Agency Intermediaries, Inc. 203-453-2859
www.agencyint.com
Agility Recovery 704-341-8700
www.agilityrecovery.com
Arthur J. Gallagher Risk Management Services, Inc. 860-560-2766 www.ajg.com
Astonish Results, LP
401-440-5955 www.astonishresults.com
Auto Glass of New England, LLC
203-375-4700 www.autoglassofnewengland.com
Broadway Premium Financing
800-728-7255 www.broadwaypremium.com
CATIC Exchange Solutions, Inc.
860-513-3131 www.caticexchange.com
Connecticut Interlocal Risk Management Agency
203-498-3000 www.ccm-ct.org/insurance/
Connecticut Underwriters, Inc.
860-347-9600 www.ctunderwriters.com
Crystal Restoration Services 203-853-4179
www.crystal1.com
Paul Davis Restoration 860-539-0911
www.pdrestoration.com
Deep South 410-771-0682
www.deep-south.com
Demetriou General Agency, Inc. 212-897-6912
www.demetriougroup.com
Empire State Brokerage Services 203-798-0067
www.empirebrokerage.com
Fairfield County Bank 203-431-7527
www.fairfieldcountybank.com
W. Ford Agency, Inc. 203-549-0005
www.wfordagency.com
Gill and Roeser Holdings, Inc. 212-972-3306
www.grholdings.com
Glass America 860-444-6344
www.glassusa.com
HSB Associates, Inc. 860-722-5539 www.hsb.com
Hybrid Insurance Agency
860-688-440 www.hybridins.com
For information on how to become an Associate Member of the Independent Insurance Agents of Connecticut and a complete list of benefits, please visit the “Join” page of our website or
contact Rose Mullaly at 860-563-1950 or email [email protected]
ASSOCIATE MEMBER INSURANCE BROKERS AND SERVICES
(Click on the website for a direct link)
ASSOCIATE MEMBER INSURANCE BROKERS AND SERVICES
(Click on the website for a direct link)
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 23
Insurance Agency Accounting & Bookkeeping 860-614-7268
www.brendadicarlollc.com
Insurance Engineering Solutions 860-429-5156
www.insuranceengineeringsolutions.com
InsurBanc 866-467-2262
www.insurbanc.com
Iroquois of Connecticut, Inc. 860-621-8412
www.iroquoisct.com
Kapura Cleaning & Restoration 860-747-2100
www.kapurarestoration.com
Lyons Solutions, LLC 860-559-3194
www.lyonssolutions.com
Joseph Krar & Associates 860-628-3967
www.jkrar.com
J.P. Maguire Assoc., Inc. 800-233-8220
www.jpmaguire.com
McGrath Insurance Group, Inc. 508-347-6850
www.mcgrathinsurance.com
Anthony J. Martini & Co., Inc. 203-445-6640
www.thatsmybroker.com
Maynard Insurance Group 203-318-0008
Mergers & Acquisition Services 212-750-0630
www.merger-acquisition.net
Oakbridge Insurance Services 860-906-0120
www.oakbridgeins.com
Plymouth Glass & Mirror 860-283-0276
www.plymouthglass.com
JN Phillips Auto Glass 781-939-3400
www.877autoglass.com
Premium Assignment Corp. 603-421-1953
www.premiumassignment.com
Pro-Klean Cleaning & Restoration Services, Inc. 866-463-2313
www.pro-klean.com
PuroClean Mitigation Services 860-516-8083
www.puroclean.com
Renaissance Group, Inc. 860-307-2957
www.renaissanceins.com
For information on how to become an Associate Member of the Independent Insurance Agents of Connecticut and a complete list of benefits, please visit the “Join” page of our website or
contact Rose Mullaly at 860-563-1950 or email [email protected]
ASSOCIATE MEMBER INSURANCE BROKERS AND SERVICES
(Click on the website for a direct link)
ASSOCIATE MEMBER INSURANCE BROKERS AND SERVICES
(Click on the website for a direct link)
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 24
Servicemaster QRV Regional Group 203-386-1565
www.servicemastergb.com
ServiceMaster by Wills 860-447-3265
www.servicemasterbymason.com
SERVPRO Cleaning and Restoration of New Haven, Waterbury & Naugatuck Valley
1-800-243-8812 www.servproofnewhaven.com
SERVPRO of Manchester-Bolton
860-649-0836 www.servproofwesthartford.com
Steamatic of CT 203-985-8000
www.steamaticct.com
Target Insurance Services 860-284-0088
www.target-capital.com
Thompson Agency, Inc. 860-693-4999
www.thompsonagency.net
Travel Insured International, Inc. 860-528-7663
www.travelinsured.com
United Cleaning & Restoration, LLC 800-835-0740
www.unitedcr.com
XS Brokers Insurance Agency, Inc. 617-471-7171
www.xsbrokers.com
Acadia Insurance Company 860-331-2391
www.acadiainsurance.com
American Commerce Insurance Company A MAPFRE Company
603-888-8900 www.acilink.com
AmTrust North American, Inc.
860-257-7286 www.amtrustgroup.com
The Andover Companies
860-257-7286 www.andoverco.com
Central Mutual Insurance Company
877-281-4941 www.central-insurance.com
Chubb & Son Insurance
203-782-4115 www.chubb.com
C N A Insurance 860-513-6460
www.cnacentral.com
Connecticut Fair Plan 860-528-9546
www.ctfairplan.com
FirstComp 888-500-3344
www.firstcomp.com
Great N.Y. Mutual Insurance Company 860-652-7090 www.gny.com
Harleysville Worcester Insurance Company
800-225-7387 www.harleysvillegroup.com
ASSOCIATE MEMBER INSURANCE COMPANIES
(Click on the website for a direct link)
For information on how to become an Associate Member of the Independent Insurance Agents of Connecticut and a complete list of benefits, please visit the “Join” page of our website or contact
Rose Mullaly at 860-563-1950 or email [email protected]
ASSOCIATE MEMBER INSURANCE BROKERS AND SERVICES
(Click on the website for a direct link)
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 25
The Hartford 860-409-6150
www.thehartford.com
HCC Global Financial Products 860-674-1900
www.hcc-global.com
The Hingham Group 781-749-0841
www.hinghammutual.com
Kemper, A Unitrin Business 203-775-5846
www.ekemper.com
MEMIC 207-791-3370
www.memic.com
MetLife Auto & Home 860-668-2699
www.metlife.com
MiddleOak 860-638-5132
www.middleoak.com
NGM Insurance Company 603-358-1352
www.msagroup.com
NLC Insurance Company 860-887-3553
www.nlcinsurance.com
Ohio Mutual Insurance 419-563-0959
www.omig.com
Peerless Insurance 860-571-2201
www.peerless-ins.com
For information on how to become an Associate Member of the Independent Insurance Agents of Connecticut and a complete list of benefits, please visit the “Join” page of our website or contact
Rose Mullaly at 860-563-1950 or email [email protected]
Pennsylvania Millers Ins. Co.
860-677-8488 www.pennmillers.com
Plymouth Rock Assurance Corporation
860-681-2766 www.plymouthrock.com
PMA Insurance 203-379-3825
www.pmagroup.com
Progressive Insurance Company 800-274-4055
www.progressiveagent.com
QBE 860-570-0802
www.qbeamericas.com
Quincy Mutual Fire Insurance 671-770-5171
www.quincymutual.com
Safeco Insurance 603-358-4156
www.safeco.com
State Auto Insurance Companies 860-633-4678
www.stateauto.com
Utica National Insurance Group 800-695-1914
www.uticanational.com
ASSOCIATE MEMBER INSURANCE COMPANIES
(Click on the website for a direct link)
ASSOCIATE MEMBER INSURANCE COMPANIES
(Click on the website for a direct link)
Independent Insurance Agents of Connecticut - www.iiact.org - December 2011 Page 26
WHO ARE THE INDEPENDENT INSURANCE AGENTS OF CONNECTICUT?
The Independent Insurance Agents of Connecticut was founded in 1899 as the Connecticut Association of Local Fire Insurance Agents. The organization’s name was changed in 1913 to the Connecticut Association of Insur-ance Agents. This name was considered more representative of the membership due to the expansion of the property-casualty business coverages and the increased presence of casualty and surety agents. In 1975 the organization became The Independent Insurance Agents of Connecticut to emphasize its members abilities to work with a variety of insurance companies and industry representatives. The Independent Insurance Agents of Connecticut has always been in the lead on important issues for agents. The list is long as IIAC has worked with regulators and the insurance industry on important issues such as agent licensing, anti-rebate laws, ownership of expirations, banking and insurance, and agent compensation to name a few. Today IIAC offers a wide variety of products and services to its members. The education calendar offers a full assortment of choices for licensing, continuing education and advanced degree programs. In addition, IIAC of-fers several insurance programs for our members that can be purchased to protect their agency business and insurance products that members can sell to their customers. IIAC also offers technical and regulatory assistant to our members. Technical advice is available at the staff level and through the Virtual University where you can “Ask The Expert.” In addition, IIAC meets regularly with the Insurance Commissioner and department staff to discuss current market conditions and consumers issues. IIAC is a strong advocate for independent agents at our state capital and in Washington D.C. Whatever the is-sue may be, IIAC is the voice for independent agents as we represent the interests of our membership. Our na-tional association, IIABA is a predominant lobbying force in Washington and is constantly ranked among the top 10 of all the lobbying groups in the United States. The Big “I” mission succinctly captures our purpose: “to pro-vide independent agents with a sustainable competitive advantage.” To accomplish that, IIAC is the unrelent-ing advocate on the issues that shape the environment in which our membership conducts business. IIAC is the voice in the halls of Congress, the state capital and in boardrooms across the nation.
INSURPAC
InsurPac is the Political Action Committee (PAC) of the Independent Insurance Agents & Brokers of America (IIABA). It represents the unified political voice of IIABA's 23,000 member agencies and 300,000 agents and brokers nationwide. It is the largest property-casualty insurance industry PAC in the country, and is one of the primary reasons the Big "I" is rou-tinely rated among the most successful lobbying groups in Washington, DC.
"Lobbying and a well-funded PAC go hand-in-hand," says Charles Symington, IIABA's Senior Vice President of Government Affairs. "InsurPac's voice resonates through the halls of Congress on behalf of the Big "I". Every elected official knows that a contribution from InsurPac is a contribution from 23,000 small business owners."
InsurPac raises funds by asking for voluntary personal contributions from independent agents and brokers throughout the country. By pooling money together, InsurPac helps elect candidates and re-elect members of the U.S. Congress who share IIABA's business philosophy.
This concept of pooling personal contributions together for the greater good is essential to understanding the importance of PACs. As an individual, you can make the average contribution of $200 to a Congressman, or you can invest that $200 in a PAC, which in turn combines that with 9 other donors and gives the same Congressman $2,000. At the end of the day, PACs are able to speak with a collective voice that is much louder than that of an individual. It is impossible to overvalue the power of a collective voice -- of a collective InsurPac speaking on behalf of the Independent Agency system.