THURSDAY, AUGUST 12, 2010 

                                                Big “I” National News


Trusted Choice^®
Beacon Mutual Joins Trusted Choice^®
Rhode Island carrier is latest brand movement company partner.

The Beacon Mutual Insurance Company has accepted an invitation to join the Trusted Choice® consumer branding program for independent insurance agents and brokers. Beacon, a mutual insurance company chartered by the state of Rhode Island, is the largest writer of workers’ compensation insurance in the state. Beacon joins 54 other leading insurance companies nationwide as a Trusted Choice® company partner.

“We are pleased to have been asked to join Trusted Choice® as it is consistent with our desire to work with independent insurance agents to meet the evolving needs of our clients,” says James Rosati, Beacon Mutual president and CEO. “We look forward to promoting the resources that Trusted Choice® offers to independent insurance agents—along with our commitment to loss control and safety programs to help them help their customers manage their workers compensation costs.”

“Like Trusted Choice®  agents, Beacon Mutual is dedicated to its policyholders and to treating them with respect and courtesy as persons and business partners, not just as policies, and to conducting company business in an ethical manner at all times,” continues Rosati.

The Beacon mission is “to be a substantial instrument in the stabilization, fiscal health and proper functioning of Rhode Island’s workers’ compensation system by providing the most innovative programs, competitive products and outstanding service to businesses and their employees.”

“Beacon Mutual is well-respected and well-known by independent insurance agents and their customers in Rhode Island,” says Dave Evans, Trusted Choice® executive director. “By joining the Trusted Choice® brand, they are making an investment in their future and the independent insurance agency system, while building on their reputation for providing responsive customer service.” 

“I am very pleased to see Beacon Mutual join Trusted Choice®,” says Mark Male, Independent Insurance Agents of Rhode Island executive vice president. “Their philosophy of serving customers is exactly what Trusted Choice® agents in Rhode Island believe in.”


Big “I” Markets
Affluent Market is now Three-in-One
Checkbox form makes it easy to get multiple quotes.

Until recently, the affluent homeowner quoting process on Big “I” Markets required the submission of a separate quote request and the completion of separate applications for Chubb, Fireman’s Fund or ACE, depending on which carrier you wanted quoted. Not anymore! Now agents only need to submit one quote request and fill out one application for the affluent program. You then select via a checkbox which company or companies you would like a quote for. You can request a quote from just one or all three of the affluent carriers. This should save you and your staff a lot of time, while making it easier for you to benefit from having access to these great affluent markets.

This is what the new market selection screen on Big “I” Markets looks like (if all three markets are available in your state):

   Which Company would you like us to quote?
        [ ] ACE (requires a minimum of three lines for a new business quote)
        [ ] Chubb
        [ ] Fireman's Fund (requires a minimum of two lines for a new business quote)
        [ ] QUOTE ACCOUNT WITH ALL THREE CARRIERS

Remember that for homes with replacement costs of over $1 million, the affluent markets offer many coverage features that add tremendous value to insureds, and the higher the value of the home, and the more jewelry, fine arts, and high-end personal items in a household, the more an insured needs the type of coverage provided by the affluent markets. Log in and learn more today at www.bigimarkets.com.


Big “I” Markets
“Fast Casual” Restaurant Coverage Available
Coverage for Panera Bread to the corner deli.

Have you looked into the new program available through Big “I” Markets provider, ProHost, for the rapidly-growing fast casual restaurant segment? The program is written through Great American Insurance Company, AM Best “A XIV” Admitted. ProHost is the only market source for this product.

What is “fast casual”? A fast casual restaurant does not offer full table service, but promises a higher quality of food and atmosphere than a fast food restaurant. Examples of fast casual restaurants include Panera Bread, Jason's Deli, Chipotle Mexican Grill, Red Brick Pizza and Cosi. Although these examples are franchises, non-franchise concepts are also eligible for the program—e.g. a local deli. Traditional fast food restaurants such as McDonalds, Arby’s, KFC, etc., are not eligible.

To make it easier for our agents, the same submission requirements apply to all our ProHost/Great American programs:

•  ACORD package apps
• ProHost Restaurant/Bar supplemental
• Loss runs
• If food is served, a copy of the menu
  

To learn more about this market and others offerings in the BIM Hospitality program including fine dining and family-style restaurants, visit www.bigimarkets.com.


Big “I” Flood
When Disaster Hits, Claims Follow
Claim Stats and Tips on Filing a Flood Claim.

There have been 1,179 flood-related disasters declared in the U.S. since 1968, resulting in over $29 billion in paid losses. To see details of flood disasters and when they happened, Big “I” Flood has a new resource available combining several FEMA and NFIP reports. The Disaster Report has each disaster broken down by state and then organized by the date of occurrence. This will also link to the FEMA Disaster website for more information. At least one declared flood disaster has happened in all 50 states. With over 1,100 flood-related disasters in U.S. history, it is certain that another disaster will happen in the future. When a flood event happens, it may not be declared a disaster, but is devastating just the same to a property owner. A claim should be filed quickly, accurately and with enough information for a certified adjuster to do his job.

What are the steps in filing a flood claim? It’s easy. Selective Insurance has a helpful guide to filing a claim which can be found here. After reviewing Selective’s guide, the flood claim form to use is the NFIP Notice of Loss form or the ACORD Property Loss Notice form if coverage was placed with an NFIP WYO. If the policy was placed with Big “I” Flood and Selective Insurance, we know the process from filing the claim to when the insured receives the final payment will be quick and hassle-free. Selective believes Response is Everything.

For more information on Big “I” Flood—In, Above & Outside of the NFIP! please contact Linda Mackey, program manager at linda.mackey@iiaba.net, or 800-221-7917, ext. 5380.


Best Practices
Automate your planning through “Quick Step”
Planning tool helps agencies build meaningful relationships with company partner.

Our Best Practices research has shown that effective joint Agency/Company planning can eliminate unproductive efforts, reduce costs for both parties and help to strengthen the agency/company relationship. Whether you are trying to establish realistic agency production goals for the coming year or to prepare information for use in attracting, establishing or enhancing agency/company relationships, this tool can assist you. The Best Practices Joint Planning Tool Quick Step was designed to help agency/company partners achieve these goals and  will take you through four important steps:

• Establish Internal Goals (Agency Planning)
  To develop realistic agency production goals with each company partner, first determine the agency’s overall growth objectives. Select the appropriate calculators, enter your numeric objectives in the cells with the white background and print the results.
  
• Prepare for Joint Discussions and Planning                   
  Your agency or company partners will want to discuss their standing in your organization, your previous year’s performance, any major changes that have occurred during the year and your revenue/premium growth projections for the coming year. You can select, complete, and print the appropriate information sheets to share with your partners.
  
• Develop a Joint Agency/Company Plan
  A key goal of joint planning is to establish and agree on a premium volume commitment that is both realistic and attainable for the agency. You can select the appropriate calculator or worksheet, enter the objectives and print the results.
  
• Implement, Monitor, and Adjust the Plan
  The planning process does not end with the plan implementation. Monitoring planned results versus actual results for the plan period and comparing results for this plan period versus previous plan period(s), will allow you to make appropriate and timely adjustments should the business environment change.

A free demo version of the “Quick Step” is available. To purchase your copy, click here or email BestPractices@iiaba.net. The annual Best Practices Study originated in 1993 as an initiative to help independent agents build the value of their most important asset—their agencies.