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May 2016 | Published Monthly
Google’s Gone for Now — But … » 7
Private Flood Insurance: One Step Closer to Reality » 12
Make Your Website Mobile Friendly » 16
Dodd-Frank & Insurance — Still Waiting for Rules » 19
INSIDE
June 7-8, 2016 | 23
Reach for the Stars!
Cover Image: TallGrass-IAWildflowers, Iowa
Insuring the Midlands Since 1891
Andy Kraus, CPCUVice President of Agencies
National Association of Professional Insurance Agents400 N. Washington St., Alexandria, VA 22314-2353www.pianet.com | [email protected] | (703) 836-9340
Did you know that PIA’s company council, The PIA Partnership, has conducted nationwide research about the insurance buying preferences of small business owners?
The research is encouraging because it found that small business owners strongly prefer independent insurance agents as they make choices in today’s online world.
However, the results also serve as a wake-up call that agents must take steps to continue to demonstrate their value and also be more engaged online.
PIA and the companies belonging to The PIA Partnership have created a public website that helps agents understand PIA’s findings.
PIA members also have access to a private website containing a series of strategies and tools to help them stay ahead of online competition in commercial lines.
To access the newest PIA Partnership project, Small Business Insurance & The Internet — The Voice of the Commercial Lines Customer, visit us at www.pianet.com/voiceoftheclcustomer.
If you are not a PIA member and want to access all of the tools available through this program, contact us for a membership application or visit us online at www.pianet.com/joinpia.
May 2016| Main Street Industry News | www.pianeia.com | 4
The Housing Market Returns with a Bang | 18In April, new home sales rose to the highest levels seen since the Great Recession’s opening salvo in 2008.
Agent and Agency Revenue is up After 2015 Dip | 18Reagan Consulting said organic revenue for agencies and agents fell a bit in 2015. However, in 2016 it’s back up.
Dodd-Frank & Insurance — Still Waiting for Rules | 19Under the Dodd-Frank Act the largest and most complex financial firms in the country are under strict financial rules.
Work Compensation –Workers Over 55 Now & in the Future | 20Here’s a shocking prediction. The Bureau of Labor Statistics said close to 25% of the work force in 2025 will be 55 or older.
Google’s Gone for Now — But … | 7Sam Friedman is the insurance research leader at Deloitte’s Center for Financial Services in New York.
Domestic Security: U.S. Low Ranking | 9When it comes to domestic security, the United States ranks below 32 other countries. The insurance implications are there.
Insurance & Overtime: Department of Labor’s New Rule | 11It’s a concern. In December the Department of Labor is raising the overtime bar.
Private Flood Insurance: One Step Closer to Reality | 12The U.S. House has pass the Flood Insurance Market Parity and Modernization Act.
The Fitch Annual Report: Ace & Chubb Merger … A Major Player in the Making | 14The Council of Insurance Agents and Brokers (CIAB) released its statistics on the first quarter of 2016. Commercial insurance rates — to no one’s surprise — fell an average of 3.7%.
First Quarter 2016Commercial Rates Still dropping | 15The Council of Insurance Agents and Brokers (CIAB) released its statistics on the first quarter of 2016.
Make Your Website Mobile Friendly | 16Websites — the experts say — do not age well. Not even close. If your website isn’t mobile friendly then you could be in deep trouble.
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piA Ne iA eveNTS
Reach for the Stars Event | 23
Upcoming Events Calendar 2016 | 29
AdverTiSeMeNTS
Contact us to place an ad.Cathy Klasi, Executive Director(402) 392-1611
Earn Up To 10% Off Your Agents’ Errorsand Omissions Premium!
Your premium should reflect the hard work you’ve done to prevent errors and omissions (E&O) incidents. All policies are eligible for our loss control credit that positively impacts your premium.
› YOU CONDUCT AN ANNUAL EXPOSURE ANALYSIS PROGRAM REVIEWED BY OUR UNDERWRITERS (5% CREDIT)
• Needs to be a regular part of the agency’s procedures• Requires that a client sign off on coverages not taken• 3 new and 3 renewal exposure analysis checklists must be reviewed
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• 60% or more of the agency staff achieve recognized designations, including CPSR, CISR, ACSR, CPCU, CIC, and CPIA
› ATTENDANCE AT AN APPROVED E&O SEMINAR (5% CREDIT) • Within the last 24 months or within the first 60 days after inception date• For all internal CSR employees as well as the principal or office manager of the agency• The seminars must address errors and omissions loss prevention • Required attendees by office size:
1-3 staff Principal/office manager or CSR 4-10 staff Principal/office manager and 1 CSR 11-20 staff Principal/office manager and 2 CSRs 21 and over 20% or more of staff
9-A-1654 Ed. 11-15
For more information, contact your Utica National Errors & Omissions agency representative or visit www.uticanational.com/EO for agent contact information.
Professional Insurance Agents NE IAAttention: EditorialMain Street Industry News920 S 107 Avenue, Ste. 305Omaha, NE 68114
Email: [email protected]: 402-392-1611www.pianeia.com
The PIA NE IA, Main Street Industry News reserves the right to edit your comments to fit space available. We respectfully ask that you keep the comments to 200-300 words.
PIA Association for Nebraska and Iowa is committed to focusing its resources in ways that cast the most favorable light on its constituents. We are dedicated to providing the type of programs, the level of advocacy, and the dissemination of information that best supports the perpetuation and prosperity of our members. We pledge to always conduct ourselves in a manner that enhances the public image of PIA and adds real value to our members.
SUBSCriBe or CoMMeNT
piA for NeBrASkA ANd iowA
AdverTiSiNg QUeSTioNS
Cathy Klasi, Executive Director(402) 392-1611
This publication is designed by Strubel Studios.
Join Our Facebook Fan PageProfessional Insurance Agents of NE IA
IS YOUR E&OX-DATE HERE?
Consideringa change?
Let the piA quote your e&o
Phil Fried(402) 392-1611
E&O CoordinatorPhil Fried
May 2016 | Main Street Industry News |www.pianeia.com| 7
Google’s Gone for Now — But …
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Sam Friedman is the insurance research leader at Deloitte’s Center for Financial Services in New York. He’s a brilliant writer and editor and before going to Deloitte was the editor of National Underwriter, the parent of PropertyCasualty360.com.
Friedman recently penned an article for PropertyCasualty360.com on Google’s recent retreat from the insurance business. He said it’s too early to celebrate.
“I hate to be a party pooper, but the fact that Google has closed down its aggregator website for auto coverage, at least for the
time being, doesn’t mean insurance agents should be dancing in the streets to celebrate the ‘victory’ of live intermediaries over Internet sales. Indeed, even a mild sigh of relief might be premature, given the inclination of more and more consumers to do much of their business online, along with the emergence of a growing number of Internet-based aggregators to meet this emerging demand,” Friedman wrote.
Some say the reason Google failed is because people prefer doing insurance business in person or over the phone. Research from PIA National and other groups show that people do prefer working with an agent.
But in his editorial, Friedman said agents won’t always top the online alternative and they need to be vigilant. “Bottom line, agents shouldn’t read too much into Google’s decision to withdraw from the insurance intermediary business. What’s more, I think they would be making a serious mistake if they believe this development represents some sort of fundamental ‘proof’ that agents will always trump web-based alternatives,” he said.
He added the push for people to do insurance business online is strong. Agents need to be aware of it and while there won’t be a mass exodus right now, it may be coming. It’s just a matter of time before the Googles of the world figure out an easier way to get your clients away from you.
“From the perspective of those looking to disintermediate agents, Google’s exit confirms that prying insurance consumers away from their live advisers won’t be easy. This is no surprise to us. Deloitte’s own research into the potential to sell small-business insurance direct to consumers over the web found that while half of those we surveyed said they are
Sam Friedman
May 2016| Main Street Industry News | www.pianeia.com | 8
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willing to consider doing away with their agent if it means saving money, a good number of these online prospects are still hesitant about taking that leap of faith and going it alone.” he wrote.
And that’s a good thing.
“Many see agents as their safety net — making sure they get the right coverage at the best price, while serving as an advocate during claims disputes. Some expressed a need to have the proverbial ‘throat to choke,’ meaning someone to hold accountable if there’s a gap in their coverage. How direct sellers alleviate such fundamental concerns may largely determine their ability to disintermediate agents in a significant way,” Friedman said.
And with that he noted a significant number of people are getting their auto insurance online or from direct writers. And the reason is the massive amounts of money these insurers are spending to get people there.
Google — and other aggregators — haven’t gained much traction at this point. But with their deep pockets, it may just be a matter of time.
“For agents, the lesson is not to stick their heads in the sand and wait for online aggregators to disappear. The takeaway is to reassert their value to consumers beyond merely shopping primarily on the basis of price,” he said.
And with that, Friedman issued a warning. “In Deloitte’s small-business insurance survey, the vast majority of respondents who were open to the idea of buying direct said their agents actually did little more than get them a premium quote, leaving many wondering how much value they might really lose by doing away with their intermediaries,” He noted.
“To avoid disintermediation, more agents need to evolve into consultative brokers and
personal risk managers, offering a wide variety of additional services such as loss-control advice, and perhaps even broader business management and development support,” Friedman wrote.
And then he continued, “Agents also should become web warriors themselves, establishing a robust, 24/7 virtual service that allows clients to access policies, certificates of insurance, and risk management information, while providing an around-the-clock outlet for coverage and claims questions,” he wrote.
Don’t believe that’s true? Friedman said look around when you’re out and about. People everywhere have their noses in smartphones and mobile devices. And as the children of the adults you seek scanning their phones grow up, shopping online will likely be their first and not second choice.
Even for something as personal as insurance.
“In the long run, the withdrawal of Google Compare is likely to be merely a blip in the inevitable, historic movement toward greater automation of insurance interactions. The sooner agents come to grips with that, the sooner they will realize the need to fortify their own online positions to avoid being rendered irrelevant by what are likely to be increasingly sophisticated aggregator sites,” Friedman concluded. n
You can reach Sam Friedman at: [email protected] or on Twitter at @SamOnInsurance. He’s also on LinkedIn.
Source link: PropertyCasualty360.com
May 2016 | Main Street Industry News |www.pianeia.com| 9
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When it comes to domestic security, the United States ranks below 32 other countries. The insurance implications are there. Congress extended the Terrorism Risk Insurance Act or TRIA — now known as the Terrorism Risk Insurance Program Reauthorization Act — to 2020 and the nation is coping with making sure terrorism insurance is available and affordable.
Being number 33 out of 127 isn’t that reassuring.
These statistics were put together by the Institute for Economics and Peace. Using 16 indicators like the number of police and internal security officers, the ratio of prisoners to prison capacity and public safety perceptions, the nations were rated on a 0 to 1 scale.
The higher the score the better. Singapore — as you’ll see — took number-one. Mexico — our neighbor to the South — was last.
The worst:
The score of the United States is 0.724. That put us behind Belgium and France who had 0.793 and 0.777 respectively. And both were hit recently by ISIS terrorist attacks.
For the U.S. getting a score that low is not surprising and is somewhat misleading. Compared to the others ranked above, the U.S. has a huge population — 321 million — and is enormous in size. The nation’s that did best were smaller. Of those in the top 10, only Germany has more than 25 million people.
Singapore’s number one ranking isn’t a surprise. It has one of the world’s largest police forces and armed services personnel per 100,000 in population and one of the lowest crime and homicide rates.
And Singapore hasn’t had a terrorist event since 1988.
The world’s nations are spending more now on police than ever. In the last 50 years spending has gone up dramatically. The United States is spending five times more on police now than in 1961 and 10 times more on its prison system.
Ironically, the report also points out having more security resources and spending more on it doesn’t necessarily make you safer. In fact, excess spending on security is said to have an opposite effect. n
Source link: PropertyCasualty360.com
Domestic Security: U.S. Low Ranking
1 Singapore 0.8982 Finland 0.8643 Denmark 0.8594 Austria 0.8505 Germany 0.8486 Australia 0.8417 Netherlands 0.8408 Norway 0.8329 Sweden 0.83010 Switzerland 0.825
Nigeria 0.255Democratic Republic of the Congo 0.272Kenya 0.298Mexico 0.394
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May 2016 | Main Street Industry News |www.pianeia.com| 11
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It’s a concern. In December the Department of Labor is raising the overtime bar. The new threshold where a company is required to pay overtime is $913 per week or $47,476 a year.
This — of course — is for full-time workers.
Vice President Joe Biden announced the change last week and said, “Companies will have a choice. Pay their workers for the extra hours they put in, or cap their hours at 40 hours a week.”
Currently the threshold for overtime pay is $455 a week or $23,600 annually. So the jump is significant. And the new rule says it will be revised ever three years and will be maintained at the 40th percentile. So by 2020, the experts predict, it will be $51,000.
The change has the insurance industry buzzing and concerned. In September of last year, PIA National filed its concerns with the department. The association said the increase — at 113% — is enormous. The comments were based on a survey of PIA members who reside in higher
Insurance & OvertimeDepartment of Labor’s New Rule
cost of living areas. “This considerable increase will negatively impact our member agencies’ employees and put a strain on the operation of their small businesses,” the PIA said.
PIA wants the threshold paired back.
Other associations are also worried. Tom Santos of the American Insurance Association (AIA) said, “The Department of Labor’s adoption of changes to the overtime rule will have negative consequences for both employees and employers in the insurance industry. Due to the diverse nature of our industry’s workforce, these changes will not be helpful.”
He continued, “The rules will not provide the workplace flexibility sought by employers and employees alike. We believe that this rule will result in a scramble to reclassify employees that will ultimately undermine job security and future opportunities for employees.” n
Source link: Insurance Business America
May 2016| Main Street Industry News | www.pianeia.com | 12
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The U.S. House has pass the Flood Insurance Market Parity and Modernization Act. If you’re deeper into the subject it’s H.R. 2901. It passed the House 419-0.
So you might say it has bipartisan support. Insurers and insurance organizations like PIA National hope it finds similarly easy sailing in the Senate.
The law requires private flood insurance to be treated the same as federal flood insurance by banks and mortgage lenders.
Jon Gentile is PIA National Vice President of Government Regulations. He said passage of the legislation is encouraging. “This legislation seeks to encourage the development of a private flood insurance market, with strong consumer protections being overseen by state insurance regulators. We thank the bill’s sponsors Reps. Dennis Ross (R-FL) and Patrick Murphy (D-FL) for their leadership on this important issue.”
Basically, Gentile said, “It ensures that private flood insurance can be used to satisfy the National Flood Insurance Program’s (NFIP’s) continuous coverage requirement, an essential aspect of ensuring policyholders are not penalized for moving from one policy to another.”
The PIA doesn’t want to see an immediate privatization of the National Flood Insurance Program (NFIP). Instead, the association is looking for — as noted in its news release—
Private Flood Insurance: One Step Closer to Reality
“sensible solutions for encouraging the growth of the private flood insurance market with measures like H.R. 2901. In addition, PIA supports the long-term reauthorization of the NFIP when it comes up for renewal in 2017. Encouraging the private flood insurance market is a good first step that we hope to see accomplished this year, understanding that, at present and in the near future, the private market is not a realistic replacement for the NFIP.”
Insurance Information Institute (I.I.I.) President Dr. Robert Hartwig also likes the positive vote. “The Flood Insurance Market Parity and Modernization Act will be a great benefit to consumers so that they have more choices when it comes to flood insurance. Now insurers can compete with the NFIP on a more-equal footing, increasing consumer options while at the same time protecting taxpayers.”
Tom Santos of the American Insurance Association agrees. “Enactment of this bill will give consumers more choices when it comes to Flood insurance. It will also help encourage development of a private Flood insurance market to complement the NFIP. The overwhelming bipartisan vote by the House creates additional momentum as the bill moves to the Senate.” n
Source links: PropertyCasualty360.com, Insurance Business America, Carrier Management
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May 2016| Main Street Industry News | www.pianeia.com | 14
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Every year Fitch Ratings looks at insurance and ranks insurers. The recently released report says the $29.5 billion Ace and Chubb merger will make the company — if
the Justice Department approves the merger — the seventh largest in the P&C market.
That’s the only change in the top 10.
Ace-Chubb would make it seventh in terms of direct premium volume. For commercial lines premiums it comes in number two and is pushing the stratospheric heights of market leader AIG.
In its analysis of insurers, Fitch also noted the changes from 2014 to 2015.
State Farm stays in first place by a • significant margin
Allstate moved to second• Berkshire Hathaway is in third• Both jumped ahead of Liberty Mutual•
Overall, Fitch said the top 10 property-casualty insurers write 47% of the direct market business. That’s up a point from 2014’s 46%. n
Source link: Carrier Management
The Fitch Annual Report Ace & Chubb Merger … A Major Player in the Making
Register Online for PIA NE IA education:
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Education
May 2016 | Main Street Industry News |www.pianeia.com| 15
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The Council of Insurance Agents and Brokers (CIAB) released its statistics on the first quarter of 2016. Commercial insurance rates — to no one’s surprise — fell an average of 3.7%.
The quarterly report is titled the Commercial P/C Market Index Survey by the Council of Insurance Agents & Brokers. CIAB head Ken Crerar said with the exception of large accounts, the losses are the largest we’ve seen since the soft market began. “It does not come as a surprise that the soft market conditions we’ve seen over the past year have continued in the first quarter of 2016,” he said.
The declines are consistent across all lines. Only commercial auto saw an increase and prices in that line jumped 3.6%. The other positives are D&O and employment practices liability. Both went up 0.2% and 0.7% respectively.
• Large accounts fell at a 4.6% rate• Medium accounts dropped 4.4%• Small accounts saw a loss of 2.1%
“While rates have been down, our members have told us that the market has increased capacity across the board and for coastal property coverage, particularly in the Southeast region. We have been fortunate to have quiet hurricane seasons the last few years but there is a lot of concern that these new markets will retreat after the first major loss event,” Crerar said.
There is a positive in the low rates. Those
First Quarter 2016 Commercial Rates Still dropping
needing insurance are purchasing additional coverages like cyber insurance.
On a positive note, Willis Towers Watson predicts an end to the slump and a turn around. Spokesman Matt keeping said the firm found price declines slowing down and predicts price hikes in some commercial lines later this year. “At the macro-level, the market remains stable and pricing is still considered soft, but we may be starting to see the bottom end of that softening.”
Every quarter the CIAB asks its members to explain the biggest impacts on their business. This survey is no different: Here’s what concerns insurers today:
• The economy• The price of oil• Carrier and broker consolidation• Cyber — risks and educating producers and clients• Recruiting and retaining talent
In conclusion, Crerar said, “The continued impact of crude oil prices and the trajectory of the global economy weighed on our members’ sentiment at the start of 2016. Elevated economic volatility is likely to continue but our members are positive about the opportunities that lay before them to make up for the effects of the oil downturn felt most intensely by brokers in the last quarter of 2015.” n
Source link: Insurance Journal
May 2016| Main Street Industry News | www.pianeia.com | 16
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Is Your Website
Mobile Friendly
Websites — the experts say — do not age well. Not even close. If your website isn’t mobile friendly then you could be in deep trouble. The number of people accessing everything these days on mobile devices like smartphones and tablets is increasing and your business depends on them or should.
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Look at your website like you’re a client. A mobile friendly website looks something like this:
Navigation is a breeze.• When the website is accessed from •
a mobile device everything automatically resizes.
Any video on the website plays perfectly • on the mobile device.
Text resizes and is easy to read.• Social media icons are on the site.• It’s not a single page site and that makes it •
optimizable for search engines.Images are smaller so it loads faster. • A blog, white papers and recorded •
seminars are on the site.Substance, function and design are the •
focus.
And advisers say don’t think trendy when making your website mobile friendly. Trendy means graphic intensity and graphic intensity means slow loading. You’re dealing with an impatient society that wants everything instantly so think functional first.
Once you have your mobile friendly site set up test it. Does it work on an iPhone or an Android or a tablet? Open it up and ask:
Does it look and operate correctly?• Are your pages properly formatted? • Did the pages load quickly?• Can you navigate pages easily?• Can you read the text? • Can someone use it if they’re traveling? • Do the forms on your site work well? • n
Source link: PropertyCasualty360.com
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May 2016| Main Street Industry News | www.pianeia.com | 18
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In April, new home sales rose to the highest levels seen since the Great Recession’s opening salvo in 2008. The Commerce Department said sales leaped 16.6% to 619,000. And the department has also revised sales for January, February and March upward with March going from 511,000 new home sales to 531,000.
Median sale prices are also going up. They rose 9.7% from April of 2015 and hit a record average of $321,000.
Economists say the housing rebound points to an economy on more stable footing. It is being assisted by gains in employment and the continuing low cost of borrowing money.
And the good news doesn’t stop there. Moody Analytics senior economist Ryan Sweet said the number of homes sold but yet to be built jumped to the highest level since May of 2007. “The spring selling season is off to a decent start. I think it’ll add more to growth this year than it has in the past several,” he said.
The supply of homes is also dwindling which is good economic news. It fell to 4.7 months from March’s 5.5 months. n
Source link: PropertyCasualty360.com
Reagan Consulting said organic revenue for agencies and agents fell a bit in 2015. However, in 2016 it’s back up. At least it is in the first quarter.
The 2015 figure — from the Reagan Consulting Organic Growth and Profitability Survey — was growth of 4.6%. In the first quarter of 2016 it rose to 5.1%. However, profit margins were a bit lower. They’re 28.5% compared to 29% during the first quarter a year ago.
Kevin Stipe of Reagan Consulting said median profitability — that’s earnings before interest, taxes, depreciations and amortization — is still strong. “Given the powerful headwinds of softening commercial property and casualty pricing and continued weakness in the US economy, the upward movement in growth is a positive,” Stipe said.
The survey also looked at lines of business:
Employee benefits rose the most at • 6.9%
It’s the fastest growth in that line since • 2011
Commercial P&C grew at a 5.1% rate• Personal lines rose 1.6%•
Growth — said Stipe — is sluggish. It’s adding pressure to agencies. “If pricing continues to deteriorate and the economy doesn’t pick up, agency growth rates are likely to suffer later this year,” he said. n
Source link: Insurance Business America
The Housing MarketReturnswith a Bang
AGENT & AGENCYRevenue is up After 2015 Dip
May 2016 | Main Street Industry News |www.pianeia.com| 19
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Under the Dodd-Frank Act the largest and most complex financial firms in the country are under strict financial rules. Insurers are among them. Yet insurers are still waiting for information on what those rules will be.
Insurers like MetLife — who
challenged and so far won its case that it is not a financially significant company — and AIG and Prudential are those insurers. So far. More could be on the way but that’s going to depend on how the courts eventually sort out MetLife’s case.
Another story for another day.
Federal Reserve Governor Daniel Tarullo said last week that the Federal Reserve will start seeking comment on rules it is going to present sometime in the next few weeks. He said insurers won’t face rules as complicated or restrictive as those placed on banks.
They will be relatively “simple” Tarullo said. “Compliance costs for these firms should be considerably lower than if they had to conform to the bank holding company capital regime,” he said.
There will be capital standards for insurers because many of them own banks. But the
Dodd-Frank & InsuranceStill Waiting for Rules
touch will be lighter because the banks are a smaller part of the overall company. The Fed will also make the regulations lighter because insurers are already heavily regulated and watched by insurance regulators in each state.
One last bit of good news for insurers. The Fed will not follow insurance standards being pushed by the International Association of Insurance Supervisors. Tarullo said they do “not really fit our need.” n
Source link: Insurance Business America
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May 2016| Main Street Industry News | www.pianeia.com | 20
Here’s a shocking prediction. The Bureau of Labor Statistics said close to 25% of the work force in 2025 will be 55 or older. Currently in some industries like construction, oil, gas and others, Baby Boomers already dominate.
Here’s the worry most workplace experts are expressing. With rising age the risk of accidents in the workplace rises significantly. Also going up, work comp claims and — worse — work comp premiums.
But the work comp insurer Amerisafe says the worry might be misplaced. In a statement on the topic it said, “More experienced workers with a wealth of knowledge are out in the field. As a result of their experience, older workers are less likely to be injured on the job because they know how to avoid certain risks and are more willing to point out activity that could lead to injury.”
And the company says that is true in almost every category. The only serious concern is trips, slips and falls and those are categories where accidents are nearly double for those over 45. A survey from Milliman and Keenan Healthcare bears that out. They found while work comp claims for those in that age bracket are fewer, they are more problematic when it comes to severity.
Work CompensationWorkers Over 55 Now & in the Future
Losses per $100 of payroll stayed the • same from 2004 to 2014
Severity of claims — however — jumped • 5.5% per year during that same period.
Amerisafe said older workers are the reason. They take an average of 17 days to return to the job. That’s significantly longer than younger workers. “A simple slip and bruised elbow for a younger worker could result in a broken arm for an older worker. Although people heal differently, as people age, their vision, hearing and balance end to decline. With even more older workers remaining employed, the number of injuries and fatalities will likely grow.”
But businesses need the experience of the older worker and that’s a real dilemma. Scott Steinmetz of the Fireman’s Fund’s risk services division said business needs to find a solution. “At the end of the day, what we really do need to think about is how to transfer the knowledge, the experience and the qualifications of this aging population to help those who are young in their careers to have a faster uptake in production in their profession, using the value coming from the aging population.” n
Source link: Insurance Business America
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May 2016 | Main Street Industry News |www.pianeia.com| 219A2112 5-11 E&O Cybersurance PC.indd 1 5/24/11 3:38 PM
Independent agents throughout your area Count on EMC ® for a number of reasons. • 100-plus years of commercial lines experience. • Expert loss control services.• Responsive service delivered by a fully-staffed branch office right in your own
back yard. Let us show you how EMC Insurance Companies can work for you.
KELLY SCHULTZClaims Adjuster EMC Omaha Branch
OMAHA BRANCH OFFICEPhone: 800-338-9735 | Home Office: Des Moines, IA ©Copyright Employers Mutual Casualty Company 2015. All rights reserved.
www.emcins.com
WE’RE READY TO HELP YOUWIN MORE BUSINESS.
Main St INDP News_7.5x4.75_WinMoreBusiness_Kelly.indd 1 1/4/2016 9:22:11 AM
You live for the opportunity to help businesses in your community. You have a passion for supporting your clients. Liberty Mutual Insurance has a passion for protecting them, with coverages like commercial auto, workers compensation, and business owner’s policy (BOP). With regional presence, industry expertise, and comprehensive coverages for businesses of all sizes, we have the local knowledge and national resources to help your clients thrive. Talk to your territory manager today about Liberty Mutual Insurance or go to libertymutualgroup.com/business.
Your clients depend on you.You can depend on us.
© 2015 Liberty Mutual Insurance. Insurance underwritten by Liberty Mutual Insurance Co., Boston, MA, or its affiliates or subsidiaries.
Golf Outing at Quarry Oaks Golf Course – www.quarryoaks.comQuarry Oaks Golf Course16600 Quarry Oaks Dr., Ashland, NE 68003(402) 944-6000
$85 Members/$95 Non-Members *Includes one drink ticket **Limited to the first 80 registrants** Quarry Oaks is an 18-hole championship golf course and is unrivaled in the Midwest in concept and design. Quarry Oaks Golf course is nestled in the beautiful Platte River Valley and is perfectly located just off of Interstate 80, midway between Lincoln and Omaha.Registration begins at 10:00amShot Gun Start is at 11:00amGolf Prizes awarded at evening trade fair – includes heavy hors d’oeurves
Trade Fair & Evening Entertainment at Embassy Suites Omaha - LaVista Embassy Suites by Hilton12520 Westport Pkwy, La Vista, NE 68128(402) 331 - 7400
$35 Members/$45 Non-Members Trade Fair begins at 5:00pm *Golf Prizes will be awarded at 5:30pmRepresentatives of numerous businesses that support our association are eager to visit with you. Refreshments and hors d’oeurves will be available as you mingle with the crowd and make the rounds of the exhibit booths. Be sure to bring plenty of business cards and make the most of this opportunity to make new contacts and strengthen established relationships“Have No Fear” begins at 6:30pm Curt Tomasevicz has participated in numerous Olympics in past years earning multiple medals. Among many achievements the greatest came in February 2010 where he and three others raced the “Night Train” to the first American four-man Olympic title in 62 years. Curt is one of the only six American bobsledders in history to earn multiple Olympic medals. Curt has been featured on the cover of Sports Illustrated and has thrown Major League first pitches.
PIA Nightcap Reception begins at 8:00pmBeyond Golf12040 McDermott Plaza, Suite 330
Join your fellow insurance professionals for a night of fun!
Hotel Facility: Embassy Suites by HiltonYou are responsible for making your own hotel reservation by contacting the Embassy Suites at (402) 331-7400 and requesting the group name “Professional Insurance Agents” for our special rate of $124. A block of rooms have been reserved for June 6-7, 2016. The special room rate will be available until May 7th or until the group block is sold-out.
Event Attire: For Tuesday’s golf outing, appropriate golf attire please; Tuesday evening & Wednesday, attire is Business Casual.
Golf & Entertainment Day – Tuesday, June 7th
Reach for the Stars!
Breakfast with the Presidents– 7:00am$10 Members/$20 Non-Members Sit down with Past Presidents and help us to honor them for their dedication to the PIA!
**Education & Lunch Package: $80/Members / $90/Non-MembersTricks to Fix – Applied for 3 P/C CE hours Morning Session – 8:30 am **Registration begins at 8:00 am**Side jobs, change of ownership, borrowed/rented cars, loss assessments and several other classic coverage concerns are dissected in Tricks to Fix. This course reviews common personal and commercial coverage gaps that- if unresolved- are certain to expose agents to the ferocity that is an angry insured. The situations discussed in this course are far from unusual; these coverage concerns are intentionally pulled from common policies sold daily by agents. This course will challenge you to break the monotony of selling these common policies and see them for what they really are: a contract full of potential pitfalls only avoidable by the most advanced agents. Kevin Amrhein, CIC – Tallahassee, FLKevin is a graduate of the University of Central Florida. He began his insurance career as a marketing intern before serving as a commercial lines agent for an independent agency in Orlando, FL. He received the CIC designation in 2003 and has served as Senior Adviser for the Florida Insurance School Continuing Education since 2004. He is a National Faculty member for the National Alliance for Insurance Education & Research’s Certified Insurance Counselor (CIC) and Certified Insurance Service Representative (CISR) programs.
Every agency wants to save money.Earn a 5% credit—up to a maximum of 10% credit applied to your Utica premium by attending this seminar! There is no minimum premium threshold for an account to be eligible for the credit, which will be applied after the application of any schedule rating modifiers.
Total Staff Size and Who Needs to Attend1-3 staff size > 1 principal/office manager or CSR need to attend4-10 staff size > 1 principal/office manager and 1 CSR need to attend11-20 staff size > 1 principal/office manager and 2 CSRs need to attend21+ > 20% of staff need to attend
Achievers Luncheon - 12:15 pm – 1:45 pm$25 for Members/Non-Members A la Carte
Today’s E&O – Applied for 3 General CE hoursAfternoon Session – 2:00-5:00 pm Insurance professionals should expect three things from this E&O course: 1) useful data, 2) practical tips to identify exposures and fortify operations and 3) examples of things not-to-do as evidenced by knuckleheads who do those things. Addressed issues include: marketing, communications, technology, workflows, coverage and claims. In addition, this E&O course features interactive case studies which will engage students to defend and/or attack the positions of all four sides- insured, agent, carrier and attorney. Lines will be drawn. Bonds will be broken. Friends will leave as enemies. You have been warned. Kevin Amrhein, CIC – Tallahassee, FL
Education Day – Wednesday, June 8th
$50 for Members / $60 Non-Members w/Lunch
$50 for Members / $60 Non-Members w/Lunch
May 2016 | Main Street Industry News |www.pianeia.com| 27
Proven, practical professional educationat www.pianeia.com or (402) 392-1611
May 2016 | Main Street Industry News |www.pianeia.com| 29
Date Class/Webinar Where WhenMay 9, 2016 Life Insurance Concepts for the Property &
Casualty Agent NE/IA Webinar12:00 PM - 3:00PM
May 12, 2016 Ethics Taking it to the Streets NE/IA Webinar1:00 PM - 4:00 PM
May 16, 2016 Personal Lines Complications: Because Simple is just too darn Easy NE/IA Webinar
12:00 PM - 3:00PM
May 17, 2016 CISR: Insuring Personal Auto Exposures Marion Kirkwood Training Center
May 18, 2016 Social Networking: OMG or E&O? NE/IA Webinar12:00 PM - 3:00PM
May 19, 2016 And the CHAOS Continues NE/IA Webinar12:00 PM - 3:00PM
May 18 - 20, 2016 CIC: Commercial Casualty Institute Cedar Rapids Cedar Rapids Marriott
May 20, 2016 Man Vs. Machine NE/IA Webinar8:00 AM - 11:00 AM
May 24, 2016 CISR: Commercial Casualty 2 Des Moines
Hilton Garden Inn Des Moines/Urbandale
May 25, 2016 Get in the Ring: A look at Property Claims, Fights, & Decisions NE/IA Webinar
12:00 PM - 3:00PM
May 26, 2016 Contractors Insuring the Liability Exposures NE/IA Webinar1:00PM - 4:00 PM
June 7 - 8, 2016 PIA Annual Convention Omaha Embassy Suites Omaha - La Vista
June 14, 2016 Words Mean Things & Insurance is a Foreign Language NE/IA Webinar
12:00 PM - 3:00PM
June 15, 2016 Top 12 Coverage Countdown NE/IA Webinar12:00 PM - 3:00PM
June 16, 2016 Food Borne Illness & Insurance Coverage NE/IA Webinar12:00 PM - 3:00PM
June 16, 2016 CISR: Insuring Commercial Property West Des Moines
LaMair - Mulock - Condon Insurance (LMC)
June 20, 2016 The Ever-Evolving Affordable Health Care Act NE/IA Webinar12:00 PM - 3:00PM
June 22, 2016 How to be the Agent Advocate at Claim Time NE/IA Webinar12:00 PM - 3:00PM
For information and to registerClick Here or call (402) 392-1611.
Upcoming Events Calendar 2016
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May 2016| Main Street Industry News | www.pianeia.com | 30
piA Ne iA eveNTS
June 22, 2016 CISR: Agency Operations Davenport Saint Ambrose University
June 23, 2016 Get in the Ring: A look at Property Claims, Fights, & Decisions NE/IA Webinar
12:00 PM - 3:00PM
June 27, 2016 Ethics Taking it to the Streets NE/IA Webinar12:00 PM - 3:00PM
June 28, 2016 Leases & Contracts VS. The Insurance Policy NE/IA Webinar8:00 AM - 11:00 AM
June 28, 2016 CPSR: Commercial Casualty York Holiday Inn Express - York
July 6, 2016 Regarding Ethics NE/IA Webinar1:00PM - 4:00PM
July 6 - 8, 2016 CIC: Agency Management Institute Omaha Hilton Double Tree Omaha SouthWest
July 18, 2016 Life Insurance Concepts for the Property & Casualty Agent NE/IA Webinar
12:00PM - 3:00PM
July 19, 2016 Contractors: Insuring the Property Exposures (NE) NE/IA Webinar
12:00PM - 3:00PM
July 20, 2016 Managing E&O in a 24/7 World NE/IA Webinar12:00PM - 3:00PM
July 20 - 22, 2016 CIC: Life & Health Institute West Des Moines
Holiday Inn Hotel & Suites
July 21, 2016 CISR: Personal Lines Miscellaneous Des Moines
Hilton Garden Inn Des Moines/Urbandale
July 25, 2016 Lawncare to Lipstick NE/IA Webinar1:00PM - 3:00PM
July 26, 2016 What We Learned: Claim and Coverage Issues from Catastrophes NE/IA Webinar
12:00PM - 3:00PM
July 27, 2016 CPIA 2: Implement for Success Omaha Hilton Garden Inn- Omaha
July 28, 2016 CPIA 2: Implement for Success Des Moines
Hilton Garden Inn Des Moines/Urbandale
July 28, 2016 Social Networking: OMG or E&O? NE/IA Webinar12:00PM - 3:00PM
August 10, 2016 CISR: Insuring Commercial Property Marion Kirkwood Training Center
August 23, 2016 CISR: Insuring Personal Auto Exposures Davenport Saint Ambrose University
August 24 - 26, 2016 CIC: Commercial Property Institute Lincoln Marriott Courtyard
August 31, 2016 CPSR: Personal Auto Omaha Hilton Garden Inn - Omaha
September 15, 2016 CISR: Insuring Personal Residential Property West Des Moines
LaMair - Mulock - Condon Insurance (LMC)
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May 2016 | Main Street Industry News |www.pianeia.com| 31
September 27, 2016 CISR: Commercial Casualty 2 Marion Kirkwood Training Center
September 28 - 30, 2016 CIC: Agency Management Institute Cedar Rapids Cedar Rapids Marriott
October 6, 2016 CISR: Insuring Commercial Property Davenport Saint Ambrose University
October 11, 2016 CISR: Insuring Commercial Property Des Moines
Hilton Garden Inn Des Moines/Urbandale
October 12, 2016 CPIA 3: Sustain Success Des Moines
Hilton Garden Inn Des Moines/Urbandale
October 12 - 14, 2016 CIC: Personal Lines Institute Omaha Hilton Double Tree Omaha SouthWest
October 13, 2016 CPIA 3: Sustain Success Omaha Hilton Garden Inn Omaha
October 26, 2016 CPSR: Residential Property Kearney Holiday Inn Express - Kearney
November 16 - 18, 2016 CIC: Commercial Property Institute West Des Moines
Holiday Inn Hotel & Suites
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The policy or its provisions may vary or be unavailable in some states. The policy has exclusions and limitations which may affect any benefits payable. Underwritten by Unimerica Insurance Company, Association Administrative Address, P.O. Box 17828, Portland, ME 04112-8828, under Policy Form ADI-4001-A (UIC).
Insurance Program Administered by Lockton Affinity, LLC.
For many people, disability means an interruption in earnings that can put them financially at risk. Even with group coverage, benefits may not be sufficient to cover the extraordinary costs of a severe disability. The PIA Trust Short Term Disability Income Insurance Plan can provide protection whether you are totally disabled or disabled and working.
Help Protect Your Most Valuable Asset - Earning a Living - With The PIA Trust
Short Term Disability Plan
As a PIA Member* serving Main
Street America, you and your
employees** have access to a
high-quality, competitively priced
STD plan through the PIA Services
Group Insurance Fund.
STD COVERAGE DESIGNED WITH LOCAL AGENTS IN MIND
PIA SERVICES GROUPINSURANCE FUND
For more information about the PIA Trust Short Term Disability Income Insurance plan, please contact
your local PIA Affiliate or call the Plan Administrator at (800) 336-4759. Additional information is also
available on-line at www.piatrust.com.
* PIA National membership, when required, must be current at all times** No minimum participation required
