THURSDAY, JUNE 3, 2010 

                                                Big “I” National News


Best Practices
Attention Nominated Agencies: Data Submission Extension Available
Don’t miss the chance to be recognized as an elite agency!

If your agency is a Best Practices nominee and you have not yet submitted your data for the 2010 Best Practices Study, you need to move quickly. While June 1 was the initial deadline, an extension is available for interested agencies. Don’t miss this opportunity to become part of an elite group of agencies that are recognized as being among the industry’s best performers. Take advantage of the benefits of participation! If you have questions or need assistance with your submission, contact Shirley Lukens at 404-233-5545 x2539 or bestpractices@reaganconsulting.com. To obtain a copy of the 2009 Best Practices Study Update and to learn more about the other resources, click here.


Big “I” Flood ^SM
ACORD Releases New ACORD 60
Form now indicates flood coverage selection or rejection.

For many years, the ACORD 60 form has been a flood insurance form indicating rejection of coverage provided by the National Flood Insurance Program (NFIP).  In 2008, the form was modified to become a selection and rejection form for both the primary NFIP coverages and Excess Flood coverages. This spring, ACORD rolled out the newest version of the form Flood Insurance Selection/Rejection indicating NFIP, Excess and Alternative Markets flood coverages rejection or selection for building, contents/personal property, loss of income or additional living expense. This form, when checked and signed by the client and producer, provides proof of offering coverage and whether the client then accepted or rejected it. Once signed by both the client and producer, the form should be retained by the agency as a record in the client’s permanent file until replaced. Agents should give a copy to clients for their records as well.

ACORD 60 forms have been used as a defense in E&O litigation. Of course, it is only a good defense if the form has been used with all clients. Offer flood insurance to all your property clients. If they decline, keep the documentation. To view a copy of the latest ACORD 60 form and the instruction guide, click here.

For more information on offering flood insurance, go to www.independentagent.com/flood or contact Linda Mackey (linda.mackey@iiaba.net), Big “I” Flood program manager.


Young Agents
Leadership Institute Marketing and Social Media Seminar—Make it Your Own!
Got a question about marketing or social media? E-mail it.

A typical event line-up would tell you when and where to be—but how often are you asked for your input on programming in advance? The Big “I” Young Agents Leadership Institute is the exception to the rule! Our presenters understand the value of time you spend away from your agency—especially when you’re just starting out in the business. Chris Jordan with Atlanta Insurance Live and Ryan Hanley with Guilderland Agency, Inc., N.Y., want to know what topics they should address in their session, “Young Agent Market Masters Tell All.” Got social media questions?  Want to learn how to boost business using new technology? Send any and all marketing or social media questions to Susan Bonner (susan.bonner@iiaba.net) and the speakers will use them to craft the presentation. The Young Agents Leadership Institute will take place Sept. 24-25 in San Francisco. To learn more, click here.


Big “I” Virtual University
Records Retention Guidelines Available 
Protect your agency from E&O risk with a proper retention procedure.

What agency records should you retain—and for how long? It’s one of the most common questions the Big “I” Virtual University receives. Unfortunately, there isn’t a clear-cut answer. In general, it can vary from three years to forever. Some state insurance regulations require agencies to retain certain client files for a prescribed amount of time so that they can be audited. Since documentation is a key part of any E&O defense, retaining records beyond minimal legal requirements is important. For a detailed guide outlining what records to retain and for how long, go to http://www.iiaba.net/vuand login with your Big “I” member login and password. Once there, access the “Guidelines” and “Archiving Policy Forms” documents under the Featured Items header. If you or your employees need additional E&O training, the Virtual University offers three online classes for producers, CSRs and agency managers. Successfully completing these classes count toward your agency’s Swiss Re policy credit. To access your state association’s course catalog to find out what’s available, click here. Look to the Big “I” Virtual University for your education needs via research, the Ask An Expert service or online classes.


Trusted Choice^®
Drop-In Press Release Available on National Disaster Preparedness Study 
Position your agency as an expert with the local media during hurricane and wildfire season.

A drop-in press release Trusted Choice^® agencies can customize is now available on a recent national survey commissioned that shows most Americans are not fully-prepared in the event of a natural disaster.

Additionally, agents may also go to the Big “I” or Trusted Choice® Facebook pages and “share” articles, tips and information on disaster preparedness.

The survey was commissioned by Trusted Choice^® and the Big “I” in May 2010, just before the start of hurricane season on June 1 and the summer months, which include wildfire season in many parts of the country. Download the drop-in press release, customize your agency and region of the country, and send it to local media outlets, such as newspapers (daily and weekly), business journals or magazines, and radio and TV stations.

Participating in this public relations campaign can result in local press coverage for your agency and raise disaster preparedness awareness in your community. 

To download the press release, click here.

To visit or “friend” the Trusted Choice^® Facebook page, click here.

To visit or “friend” the Big “I” Facebook page, click here.