UNITE
VOICE OF THE SPECIALTY INSURANCE AGENTS ASSOCIATION
NOVEMBER 2009 |
|
|
| CONTACT US |
PHONE 888-290-8436
FAX 386-257-0250 |
|
|
| GREETINGS UNITE READERS |
HOPE YOU ENJOY THE NOVEMBER ISSUE OF THE NEW ELECTRONIC EDITION OF UNITE. WE WANT IT TO SERVE YOUR NEEDS AND BE THE VOICE OF SIAA. PLEASE DIRECT ANY COMMENTS TO US AT
INFO@SPECIALTYINSURANCEAGENTS.ORG. WE ARE ADDING NEW AND EXCITING ARTICLES EACH AND EVERY MONTH. CHECK OUT OUR ADVERTISERS THEY ARE HERE TO SUPPORT THE UNITE MEMBERS AND HELP YOU BECOME MORE SUCCESSFUL |
| QUESTION OF THE MONTH |
| I have a Salvage Title. What is it and can I get Insurance?
State laws determine if a vehicle requires a salvage title.
Some states base salvage titles on the extent of damage a vehicle has sustained. For example, in Louisiana, damage to a vehicle must equal or exceed 75 percent of the vehicle's retail value in order for it to require a salvage title, according to state law.
Other states, such as Florida, require a vehicle to have a salvage title if the insurance company declared the vehicle a total loss. These titles generally indicate whether the vehicle is "rebuildable" (can be repaired and driven on the road) or "not rebuildable" (must be sold for parts).
Other states "brand" or "notate" the vehicle's title when the estimate of damages reaches a certain percentage of the vehicle's retail value (in New York, it is 75 percent), even if the vehicle has not been declared a total loss and is able to be repaired.
Other states have no guidelines for issuing salvage titles.
Check with your underwriter, but in most cases insurance cannot be purchased. Email your questions to UNITE at | |
|
|
| 2010 21ST ANNUAL CONVENTION & TRADE FAIR |
**FREE TRADE FAIR**
Specialty Agents of Florida has held an annual Trade Fair since 1989 where insurance companies and other vendors have exhibited their products to hundreds of agents in an endeavor to make agents knowledgeable, competitive and more efficient. A great networking environment is created and both seminars and Continuing Education classes are offered keeping agents informed of the latest products and legislation. The Association has developed a strong presence in Tallahassee and has attracted many prominent speakers from legislative leaders to the State CFO.
This year a big change, you asked for it and here it is no charge to enter the Trade Show.
We have also lowered the cost of the package for the convention and we have included the Trade Fair lunch in the SA spouse package.
Hotel cost $99.00 per night. PackageFriday Night Reception, Saturday Trade Fair Lunch, Saturday Night Party and CE's included
$89.00 SA Member
$69.00 SA Spouse
$139.00 NON-Member
Golf Package (including Lunch)
OPEN TO ALL !!!!!!!!! $125.00
Purchase by item
CE Courses per Day
$30.00
Friday Night Reception
$30.00
Saturday Luncheon
$30.00
Saturday Casino Night Party
$40.00
Your registration does not include hotel reservations. You are responsible for making your own hotel accommodations. Your request must be received by April 23, 2010. After that date, the hotel will release all unreserved rooms for the sale to the public. Limited rooms at this price reserve early don't wait. Universal DoubleTree
1-800-327-2110 (Be sure to mention Group Code # SAT to receive the discounted rate). Hotel Rate $99.00per night,
plus taxes
|
| COMPANY SPOTLIGHT |
|
PROGRESSIVE GROUP OF COMPANIES
The Progressive Group of Insurance Companies, in business since 1937, is one of the country's largest auto insurance groups. We're also the largest seller of motorcycle insurance, agents' top choice for RV coverage, and a leading insurer of boats.
Our specialized coverages and highly-trained claims representatives set us apart from other carriers in the boat, motorcycle and RV markets, along with better rates, broad acceptability, and superior technology for agents and customers.
With more than 30,000 independent agencies selling our products, Progressive is the largest writer of auto insurance through independent agents and brokers in the U.S., based on premiums written.
Agents and brokers can log in to ForAgentsOnly.com to get an at-a-glance summary of everything they need to manage and grow their business, including agent referrals, quotes, customer policy information, state and countrywide news, and more. Consumers can find an agent at http://www.progressiveagent.com .
Progressive agents also have access to our agent-focused newsletters that provide information for growing their agencies and selling Progressive products. Here's an article from the latest edition of our Agency Reporter-Special Lines newsletter. Enjoy!
Help Protect Customers' Toys
Build Customer Relationships with Your Expert Advice
With autumn upon us, and the off-season just around the corner, here are some tips you can share with your enthusiasts on what matters to them right now: preventing ATV theft, securing a boat or RV for storage, and covering these assets even when they're not in use.
Preventing ATV theft
Remove temptation. Don't leave the ATV out in the open. ATV theft is often a crime of opportunity: a thief walks by your home, sees the ATV on its trailer, and decides then and there to steal it. Always lock your ATV inside a garage or an enclosed trailer. Out of sight means out of mind.
Don't make it easy. Always remove your keys from the ignition. A simple rule, but easy to forget when you're out on the trails and wearing riding gear. Always be vigilant in reducing the opportunity for theft.
Lock up what you love. Invest in wheel locks and coupler locks. A wheel lock will help protect your bike when you're out on the trails. When engaged, it prevents the tires from rotating and covers the lug nuts so that the wheels can't be removed. A coupler lock prevents someone from hooking your trailer up to a vehicle and driving off with it in tow.
Storing boats and RVs
Show the love. Take special attention even in the off-season by properly winterizing your vehicle. Check your owner's manual for the manufacturer's recommendations. Be sure to thoroughly clean your boat or RV, make essential repairs, and turn off all battery switches or remove the battery entirely. Take all necessary steps to prevent water intrusion.
Lock it down and take the keys. Use a coupler lock on trailers and close and lock all doors and windows. Don't leave spare keys inside. Also, be sure to block wheels securely to prevent your trailer or RV from inadvertently rolling away.
Don't be a stranger. You won't necessarily be notified if your boat or RV is damaged or stolen while at a storage facility. Check on your boat or RV regularly or ask someone to check on it for you. Also, you'll be able to remedy any water intrusion or other problems quickly instead of waiting until the beginning of the season.
Off-season coverage
Make sure you have it. Just because your boat, RV, or motorcycle isn't being used doesn't mean it's out of danger. Fire, theft, and other unforeseen events can still affect your vehicle.
It pays to be loyal. Customers get more benefits with continuous coverage. By keeping your policy year-round, you'll have access to a variety of features that can lower your overall costs and give you better protection. Disappearing Deductibles*, Total Loss Replacement* coverage, and our Continuous Insurance Discount** are just a few of the benefits you could lose if your policy lapses in the off-season.
To read more about how Progressive can help your agency grow, read Agency Reporter - Special Lines. http://newsmanager.commpartners.com/prog/issues/2009-10-05/index.html.
*Not available in all states.
**Amount varies by state.
|
| SPECIALTY AGENTS FLOOD 20% COMMISSION |
|
|
| FREE YELLOW PAGE MONEY |
|
FLOOD COOP MONEY?
Low cost Advertising
Have you or someone you know been successful in running a flood insurance yellow page ad and collecting the coop payment? I am putting together information about the flood coop yellow page program to share with other Specialty Insurance Agents and would like to hear from you. Please email me at tyreagency@hotmail.com and I will contact you. I have contacted the National Flood Program and am collecting information from them about the coop program, but want to hear about the program from the agents prospective. This is an opportunity to help the other agents and the association, please respond.
Specialty Insurance Agents Association is supporting you the local agent. We have written articles showing what we have accomplished. At this time we continue to push our flood program with National Group that will pay you 20% for new business and 20% for renewal business. I am aware of several companies that will pay 20% (if you are lucky enough to get a rep to offer you that much) on new business, but don't know any that will pay you 20% on renewals. There are many changes in the flood program for 2009. The main one is a premium increase for new and renewal business.
Please contact me at tyreagency@hotmail.com to discuss the Specialty Insurance Agent's flood program and how it can benefit your bottom line.
CURTIS TYRE
BOARD MEMBER
SPECIALTY INSURANCE AGENTS OF FLORIDA |
| SIAA AGENTS E&O |
FOR MORE INFORMATION ON THIS PROGRAM CALL OR EMAIL TODAY
GRAVES & COMPANY
1-386-257-0595
|
| E&O SITUATION HELP |
SHOULD I WRITE RC OR ACV?
When you write a homeowners or dwelling fire policy do you include replacement cost?
I purchased a book of business from a competitor a few years ago. They were in the same market I was in and we represented many of the same companies. One of our company reps made several remarks over the years about how good the other agency was doing to encourage our agency to put more business with them. When we went through the acquired agencies policies, we discovered most of their policies had been written without replacement cost on contents. That was a simple exclusion that made them less expensive on the same risk that allowed them to write the business. The first claim reported to us involved loss of contents and the policy didn't have replacement cost coverage. That claim was settled under actual cash value to the customers loss.
Our agency includes replacement cost for the dwelling and if available, on the contents, on every policy we sell. I would encourage you to do the same and use replacement cost coverage as a selling point.
Here is information on replacement cost and actual cash value coverages for your review.
There are several different methods by which your insurance company may calculate the amount it will pay you for a loss. Payment based on the replacement cost of damaged or stolen property is usually the most favorable figure from your point of view, because it compensates you for the actual cost of replacing property. If your camera is stolen, a replacement cost policy will reimburse you the full cost of replacing it with a new camera of like kind. The insurer will not take into consideration the fact that you ran three rolls of film through the camera every day for the last two years, causing a considerable amount of wear and tear.
In contrast, actual cash value (ACV), also known as market value, is the standard that insurance companies arguably prefer when reimbursing policyholders for their losses. Actual cash value is equal to the replacement cost minus any depreciation (ACV = replacement cost - depreciation). It represents the dollar amount you could expect to receive for the item if you sold it in the marketplace. The insurance company determines the depreciation based on a combination of objective criteria (using a formula that takes into account the category and age of the property) and subjective assessment (the insurance adjuster's visual observations of the property or a photograph of it). In the case of the stolen camera, the insurance company would deduct from its replacement cost an amount for all the wear and tear it endured prior to the time it was stolen.
What Does "Replacement Cost" Mean?
The term "replacement cost" is defined or explained in the policy. Simply stated, it means the cost to replace the property on the same premises with other property of comparable material and quality used for the same purpose. This applies unless the limit of insurance or the cost actually spent to repair or replace the damaged property is less. Refer to your policy for the exact definition and explanation of replacement cost.
What is "Actual Cash Value"?
The term "actual cash value" is not as easily defined. Some courts have interpreted the term to mean "fair market value," which is the amount a buyer would pay a seller if neither were under undue time constraints. Most courts, however, have upheld the insurance industry's traditional definition: the cost to replace with new property of like kind and quality, less depreciation. Courts have varied in their rulings as to whether or not depreciation includes obsolescence (loss of usefulness as a result of outmoded design, construction, etc.).
So What's the Difference?
The only difference between replacement cost and actual cash value is a deduction for depreciation. However, both are based on the cost today to replace the damaged property with new property.
What About "Book" Value?
Note that accounting or "book" value has no relevance to either of the previous methods of valuation. The depreciation rate reflected in "book" value would yield a terribly inadequate settlement. Another problem with using "book" value is that it may reflect only the items that are "capitalized." To determine adequate limits, one must add "expensed" items into capitalized items.
Other Kinds of Valuation
Certain property may be subject to a special valuation basis other than replacement cost or actual cash value. The value reported should match the applicable valuation basis. For example, if the property policy is endorsed with a selling price endorsement for finished goods, the proper value to insure for finished goods is the cash selling price, less any customary discounts and expenses that otherwise would be incurred.
Therefore, please check underwriting rules before placing coverage with a particular carrier as they may deny a claim and you may be faced with an E&O situation. |
| PROGRESSIVE ATTRACT - AND RETAIN - MORE CUSTOMERS |
|
|
| LEARNING THE G/L POLICY |
ARE ALL G/L POLICIES THE SAME?
Not all General Liability ("GL") policies written for Artisan Contractors are alike. The following are a few items you need to look for. Protect your E&O. Know what your insureds don't know that they need to know.
Typically, a General Contractor ("GC") requires that a subcontracted Artisan Contractor has certain limits of insurance, usually starting at $500,000 Occurrence / Aggregate going all the way up to $1 or $2 Million Occurrence / Aggregate. Quite often the GC also will require special clauses and endorsements, i.e. primary and noncontributory, additional insured, waiver of subrogation, etc.
Not all Artisan Contractor Policies include primary & noncontributory wording and it can sometimes be difficult to get. What exactly does primary & noncontributory mean? Primary is when the General Contractor requires the sub or Artisan Contractor to have wording in his policy that would make the Artisan Contractor's policy respond first before any other policy. The noncontributory wording means that even if the GC contributed to any part of a claim, the Artisan Contractor's carrier will not recover from the GC's policy carrier.
A majority of Artisan Contractor GL policies have an endorsement called, "Classification Limitation Endorsement" or a similar endorsement which limits coverage. What this says is that if the operations being performed by the Artisan Contractor are not listed on the Dec Page there will be no coverage. In the current marketplace, many contractors who are desperate for work will take on types of work which are not included in their main job classification. If there is a claim for the portion of their work not listed on the Dec Page and for which the carrier is unaware there will be no coverage at claim time. If possible, you should place coverage for your insured with a carrier who does not have this limitation.
Another term you will hear the insured request is a "waiver of subrogation"? What is that?
It is when the insurance carrier gives up their right to collect from another party for damages paid on behalf of their insured. It is very common for a GC to request this as they do not want the insurer of a subcontractor to go after them to pay a subcontractor's claim. There is usually an additional charge for a waiver. A few companies will offer a Blanket Waiver which means that instead of paying Additional Premium for each waiver, the company charges one amount for x number of waivers.
When an Artisan Contractor works for a store such as Lowe's or Home Depot or for a GC, they may require the Artisan Contractor to name them as an Additional Insured on their policy. What does this mean? It means a person or organization not automatically included as an insured under an insurance policy, but for whom insured status is arranged, usually by endorsement. A named insured's motivation for providing additional insured status to others may be a desire to protect the other party because of a close relationship with that party (i.e. a business that gives the contractor a lot of work) or to comply with a contractual agreement requiring the named insured to do so (i.e. the landlord of a building leased by the named insured). There are companies that offer Blanket Additional Insureds. Again, it would be one AP for up to a certain number of Additional Insureds.
What about the CG2037? The CG2037 provides completed operations coverage to the Additional Insured. To read more about this go to:
What is Product-Completed Operations?
It is one of the hazards that can be insured by a general liability policy. It encompasses liability arising out of the insured's products or business operations conducted away from the insured's premises once those operations have been completed. For example, a brick layer completes his work. The following week, a brick becomes loose, smashes a glass window and hits a passerby in the head. The bodily injury and the property damage from the brick falling after the Contractor completed the work would be covered under Products Completed Operations. It does not apply when the contractor is working at the jobsite.
Deborah Grey |
| DON'T LET YOUR GUARD DOWN |
It cost everyone, Fraud
SPECIALTY AGENTS want you to know we are an organization that is in existence to support our agents and that there is strength in numbers/unity. In Hillsborough, there is a carrier crisis due to fraudulent claims. It's like Miami five years ago and Orlando Metro two years ago. NOW is the time to join together we can make a difference.
The following was reprinted with permission of GMAC INSURANCE
The state of Florida has been hit hard with increasing loss trends and fraudulent claims. Several insurance carriers have responded to the market conditions by raising rates, reducing payment plan options and aggressive agency management. Insurance fraud is not a victimless crime - it costs everyone.
GMAC Insurance is committed to making a difference and fighting fraud. We are asking your agency to be mindful of some common underwriting "red flags' when you quote and sell a policy to new customers.
Common Underwriting Red Flags
Walk-in Customers:
~Ask how they learned about your agency?
~Is your office within close proximity to their home or work? If your office is not convenient to their home or work -ask yourself why are they there?
Prior Insurance:
~Does the customer have prior insurance without a lapse in coverage?
lf the customer is not currently insured:
~Ask how long it has been since they were last insured.
~Ask for the carrier and agency name for the prior coverage.
~Ask what is prompting them to obtain a new policy now.
~Ask if they had any accidents or filed a claim with the prior carrier.
~Ask why they are not purchasing coverage with the same agency and/or insurance carrier.
Older Model Vehicles:
~Ask if any vehicle(s) to be included on the new policy has any existing damage.
~Ask if any vehicle(s) to be included on the new policy was involved in a prior claim.
~Ask to inspect all covered vehicles for any existing damage before you bind coverage.
~Verify the vehicle VIN number and take photos of the vehicle(s) to document the existing damage.
~Ask for a copy of the vehicle registration and driver license for all vehicles/drivers listed on the policy and save them in the customer file.
The state of Florida requires a vehicle pre-inspection in certain counties. We encourage agents to consider voluntary inspections as a prudent field underwriting practice - especially when concerned about potential fraud.
Employment Information:
~Ask if the customer is employed and if so where (name of company and telephone number).
~If unemployed, ask for the source of income.
Residency History:
~Ask how long they have lived at their current address and who else lives there?
Report any suspicious activity or concerns to GMAC Insurance.
You can contact Jill King at 1-888-233-4575 Extension 53025 or e-mail us at:
Anyone with knowledge of suspicious activities may also contact the Department of Financial Services insurance fraud hotline at 1-800-373-0445 or www.MyFloridaCFO.com/fraud . The state offers a reward up to S25 000 for information directly leading to an insurance fraud arrest and conviction.
Together we can make a difference!
|
| PICK THE LOW FRUIT ? |
THERE IS NO LOW HANGING FRUIT!!!
My E&O was up for renewal this month. While renewing, my agent mentioned that just as many agents were closing as were opening agents from scratch.
Gone are the days when all you had to do was take a test, rent a space, buy the largest yellow page ad you could - or better yet - could NOT afford - and then sit back and rake in the money! Well, in this economy, you may be able to do it for a short while --- BUT THE LOW HANGING FRUIT IS GONE!!!
Here are a few tips to enable you to succeed!
RUN YOUR AGENCY LIKE A BUSINESS
Insurance sales is a business. You went into it only for one reason - to make money! It's nice to say you're doing it to help the consumer - create jobs to do your bit to improve the economy - but your main and real reason is TO MAKE MONEY.
CREATE A BUSINESS PLAN
No business should start without a plan. If you don't have one - then you plan to fail. It needs to be written and referred to often. It needs to be addressed and reviewed periodically. So ... you ask me - HOW DO YOU CREATE A BUSINESS PLAN! A starting point could be studying other agencies in the area you have selected to open your agency. Make notes of areas they're successful in ... and especially where they're failing. Assess strong points and weak points and apply them. Remember - you're not reinventing the wheel --- you're just trying to get it to spin your way!
WHAT LINES ARE YOU GOING TO SELL
Take this from personal experience. If you've been in the insurance field for any period of time, you're probably acquainted with the company reps. This doesn't necessarily guarantee you an appointment. You have to convince them you're an asset to their company. If you're purchasing a current book of business - find out first which companies are willing to transfer that book or appoint you. That book of business means nothing without company appointments!
FIRST IMPRESSIONS
Your office location and appearance must be inviting and pleasant equipped with smiling, cheerful personnel.
KNOW YOUR LINES OF BUSINESS YOU'RE SELLING
You may be licensed for all coverages but it's impossible to know all the idiosyncrasies involved in order to sell specific lines of business. Take classes, talk to underwriters - and, most of all, ask questions! The little things you learn from experience over the years is what makes a great agent.
HAVE A PROCEDURES MANUAL
Establish a procedure manual for your employees to follow. This should contain procedures in taking information for an application; specific underwriting rules pertaining to the company you're placing the business with including any exclusion. This should include all office procedures you have set up. Most important - follow the procedures and enforce them.
EMPLOYEES
This can be a touchy subject. Working hours should be defined. Since most will be have a fiduciary responsibility - they must be held accountable for the money they have taken in. Strict accounting procedures should be set up and enforced. Good employees should be commended and rewarded. Employees who are otherwise need to be admonished or written up. The rewards are well received ... and ... and will almost guarantee loyalty and honesty.
This is the first in a series of articles. Next month's article will be on WHAT'S THE WORST NUMBER IN BUSINESS. Think about it. I'd appreciate receiving your conception of what it is. Till next month.
MARCUS HANIMAN
|
| NATIONS SAFE DRIVER ROAD TO SUCCESS |
|
|
| WANT UP TO $50,000 FOR TRAINING? |
TRAINING FUNDS FOR AGENTS AND AGENCIES
Florida Insurance University
University of Central Florida
Florida Insurance University is the insurance training division of the Continuing
Education department of the University of Central Florida. The University programs
include:
4-40 Registered Customer Service Designation. This distance learning program
exempts the student from the state licensing exam for the 4-40 license;
4-40 to 2-20 Conversion Course. This 40 hour class is presented live or as a distance learning
course. Successful completion qualifies a 4-40 CSR to take the 2-20 licensing
exam;
Continuing Education for Agents and Adjusters taught live and online;
Accredited Claims Adjuster Designation. This class is presented live or as a distance learning
program. The designation exempts the student from the state licensing exam for
the All Lines Adjuster license.
All University programs are approved for funding by Workforce Central Florida.
More information is available at: www.ce.ucf.edu/insurance
Workforce Central Florida, along with Workforce Boards throughout the state, were
established to provide funds for training job seekers and employees alike. There are more
than 20 Workforce Investment Board regions in the state.
For agents and agencies, looking for training resources, Workforce boards offer a variety
of training awards and solutions. Employed worker training awards are available up to
$50,000 to enhance and build employees' skills. Workforce typically reimburses
employers half of the direct cost of training through this program.
As long as an agency has two or more employees, licensing and continuing education
funds are available, and that is remarkable considering the current economic climate.
The procedure for obtaining the funds involves some patience and paperwork, but the
workforce representatives are trained to take an applicant through the process.
The University currently works with several large agencies that use the Workforce
funding to meet educational needs.
For more information on training and Workforce Training Awards,
|
| MILLENNIAL GENERATION, WHO ARE THEY ? |
Bridging the Generation Gap-Welcome to the Future
It affects every industry; the work place of today is not the work place of yesterday. As technology continues to evolve the ways of doing business today are much different than even ten years ago.
Not only is technology in how you run day to day business different, but the employees of today's workforce are much different than the workforce of the past.
The "Millennial Generation", also known as Generation Y is the future of our workforce. This large generation of rising adults, born since 1982 is starkly different than other generations.
Here are a few things you might not know about the Millennial Generation and how the workplace is already changing.
~ They have high expectations of themselves-they aim to work faster and better than other workers.
~ They have high expectations of employers-they want fair and direct managers who are highly engaged in their professional development
~ They demand ongoing learning-they seek out creative challenges and view colleagues as a vast resource from whom to gain knowledge.
~ They thrive on immediate responsibility-they want to make an important impact on Day 1
~ They are goal-oriented-they want small goals with tight deadlines so they can build up ownership of tasks.
By 2010, an estimated 31 million Millennials will be entering the US workforce, outnumbering Generation Xers and picking up the slack by retiring baby boomers. Small businesses will be doing most of the hiring. That's most of your agencies!
How will your business accommodate this energetic, tech-savvy, and impatient generation of workers? First off, you'll need to start by changing your expectations. Don't expect them to approach work with the same work ethic you did. The stereotype Millennial are products of dual career families whose parents may have over compensated in indulging them to make up for lack of time spent with them.
Over the next couple of months UNITE will provide you with tips and helpful hints to managing the Millennials. As well, we'll dive into how to market your agency to the ever changing world in which Millennials have become so proficient.
BY Michelle Mosher
|
| SIAA MEMBERS CAN SELL AARP MED SUPP |
CALL TODAY TO START SELLING AND MAKING MONEY TODAY
1-888-290-8436 |
| DO YOU NEED CE'S |
|
SIAA 2010 CONTINUING EDUCATION
Continuing Education for 2010
We already have a new 2 hour class on agency management approved for the 2010 convention. There are two other 3 hour classes pending. One is a class on homeowners insurance and the second class is on the subject of flood insurance. We are planning on a class dealing with auto insurance and another class on the subject of Comprehensive General Liability Coverage, the sub contractors coverage. Many of our members sell the CGL policies and need to know more about them. We always have several participants at the TRADE FAIR who offer the CGL policy as part of their programs. It can add to the agencies bottom line. If you are not currently selling the CGL coverage, plan on attending our class and learn how to add it to your product offering for your customers.
The homeowners class is based on the subject of the proper coverage's needed by your customers before a hurricane. Action you and your customer should take before a hurricane. The personal information they need to have available before a hurricane. The claims information you need to share with your customers after a hurricane. There will be a discussion on company adjusters, independent adjusters and public adjusters. We will discuss what the mediation process is.
We will have the mandatory classes, 3 hour ethics class and a 1 hour wind mitigation class to meet the requirement for 2-20 agents and a senior annuity ethics class for our life license members.
Our flood class will discuss in depth the flood insurance program. We will discuss what is a flood, the WYO program, the SFHA and who is eligible for a flood policy.
The National Flood Insurance Program has a co op program for yellow page ads. If you qualify and by using a NFIP ad, they will pay from 25% to 75% of the yellow page ad cost. We will have information to share with you on this program and how you can make it a part of your budget for yellow page advertising.
Last year Progressive, Infinity and Nations Safe Driver participated in our CE offerings for you. We are looking forward to the biggest and best Convention and Trade Fair in 2010 and we are making plans right now to make it be important for you to attend.
|
| MY GLASS IS HALF FULL |
22 Rules For Living A Happy, Healthy & Prosperous Life..."
By Brian J. Kay, Executive
Director, Leads4Insurance
Every year, I sit down and reflect on the past year's successes, challenges, and insurance marketing ideas learned. Then, I put together a specific plan of action for the upcoming year. This has always been immensely valuable to me, so I thought I'd share some of my insurance marketing ideas with you to stimulate your planning. Think of this as a "mental enema" which is intended to get rid of all the useless insurance marketing ideas stuffed into your brain over the course of the past year. So, without further ado, here are the 22 Rules For Living A Happy, Healthy & Prosperous Life:
1. Be Thankful For What
You Have
Most people I come into contact with have a "Glass Half Empty" instead of a "Glass Half Full" mentality. Take the time to sit down and truly appreciate what you've got. A great spouse or significant other who loves you. Great kids. Your health. Good friends. Your own business. A roof over your head, etc. You get my point. Don't focus on what you don't have which will set you up to be a miserable person.
2. Focus On Progress
Not Perfection
Most entrepreneurs and salespeople are perfectionists by nature. They are never satisfied unless everything is working perfectly. Well, let me clue you in on a little secret...
Life Is Never Perfect!
Employees quit. Market conditions change. Computers break down. Clients leave you. Overhead keeps increasing. You're never gonna change what I just described. Get comfortable with it and focus on making things 1% better each month which is completely achievable. Then, congratulate yourself on the small successes instead of focusing on failing to live up to your "ideal" world.
3. Hire An Assistant
Ask yourself these questions:
a. Do you prepare your mailings?
b. Do you do your bookkeeping?
c. Do you answer your own telephone all day?
d. Do you do your own filing?
e. Do you do your telemarketing?
If you answered "yes" to the above questions, it's time to get an assistant.
You're much better off paying someone $8 - $10 an hour so you can focus on insurance marketing ideas, selling, and retaining clients ($100/hr. plus activities).
4. Become A Better Time Manager
When I say become a better time manager, I don't mean going out and getting the newest Franklin Planner. I mean, set up your schedule so that most of your working hours are spent on "Major Outcome Activities" like marketing insurance ideas, selling, and retaining clients.
Don't waste your time filing, bookkeeping, reading the Wall Street Journal, and doing other activities that make you feel busy, but are actually costing you money NOT making you money. Hint: Get yourself a weekly planner and track yourself for one full week. Write down how you spend every single working hour. You'll be amazed at how much time you waste on unproductive activities!
5. Set Goals And Deadlines
The brain is a very powerful machine if you learn how to use it properly.
Most people let life happen to them instead of proactively planning out how their life should be.
Sit down one Sunday by yourself or with your spouse and set goals for yourself.
Start by setting goals in the following areas:
a. Net Income
b. Net Worth
c. Health
d. FREE Time/Vacations
e. Personal Relationships
I know this may sound kind of hokey, so here's proof it works. I personally did this 12 months ago, and here's what happened... My net income increased 500%. I reduced my body fat from 15% to 8%. I took over 4 weeks vacation with my wife. My net worth doubled. I put members of our Mastermind Coaching Program through the same process and they had very similar results.
Bottom Line: It Works!
Hundreds of top producing Insurance Agents and Financial Advisors have doubled their net incomes while working one less day per week by working "smarter not harder."
6. Invest In Yourself
Most people will spend money on rent, mortgage, cars, jewelry, vacations, eating out, etc., but won't spend anything on self-improvement. Even when I was broke, I spent, at least, 20% of my
net income on self-improvement tapes, courses, seminars, consultants.
Here's the funny part: 8 years ago, my family and friends thought I was nuts to spend all that money on "information" when I could be using it to go on vacation, get a new car, etc. Here I am, 8 years later, running a multi-million dollar company, taking 4 - 6 vacations a year with lots of money in the bank and the ability to do whatever I want to do.
Who do you think was right?
7. Don't Be Afraid
There is one four letter word that prevents 99% of the population from not reaching their full potential...
F E A R!
Most people never take chances because they are afraid of the consequences. They don't hire new employees. They don't invest in the stock market. They don't start businesses. They don't try new sports. In the Olympics, they have an interesting way of explaining the difference between a Gold Medalist and a Silver Medalist...
"The Gold Medalist Plays To Win And The Silver Medalist Plays Not To Lose!"
Overcome your fears and play to win!
8. Don't Envy Anyone
My parents always told me, "Don't envy anyone, you never know what goes on in their life behind closed doors." Good advice that has proven to be true over the years. I watched a top businessman (worth over $100 million) die suddenly at age 50. And couples that seemed to have it all, break up and go through very ugly divorces. Worry about yourself and don't get caught up "Trying To Keep Up With The Jones's."
9. Discover Your Personal Genius
What activities excite and motivate you?
What things would you do all day even if you didn't get paid to do them?
What gives you unlimited energy?
For me, it's insurance marketing ideas. I love learning about it, doing it, and teaching it.
You need to find out what it is for you, and set up systems so you can spend most of your time doing it.
10. Get Rid Of Your Distractions
It's virtually impossible to reach your true potential until you clean up the messes that exist in your business and personal life. Get some files, and clean off your desk. Hire someone to help you. Computerize your office. Train your staff properly. Fire annoying clients. Trust me, the more distractions you get rid of, the more successful you will become.
11. Get Into Good Physical Shape
The mind and body are one. Don't treat them like separate entities. If you want to operate at
peak mental capacity, you must be operating at or near peak physical capacity.
Here's why: You must be in good physical condition to sustain the energy necessary to run a
successful business. Otherwise, at some point, your body will give out and you'll either get sick or tired or both. Start eating a healthy diet and exercising four times a week. You'll feel better about yourself, and you'll have more energy...
12. Schedule Your FREE Time In Advance
How many vacations did you take last year? Did you ever work on a Saturday or Sunday?
For most entrepreneurs and salespeople, the concept of FREE time and vacations is foreign to them. The reason most business people don't take time off is because they don't think they deserve it until they finish some project or achieve some goal. Well the truth is, you must take FREE time and vacations to re-energize your batteries and prevent burnout. I've discovered the only way to make sure you take time off is to schedule it in advance. Otherwise, it will never happen. In our Top Producer Personal Coaching Program we teach members how to divide their week up into three types of days:
Fun Days for FREE time;
MOA Days for "major Outcome activities," and Neural Days for things like filing, bookkeeping, managing employees, etc.
So, sit down with your calendar for this year and plan out your vacations and days off for the next year right now.
13. Be Careful Who You Take Advice From
Friends and family mean well, but they don't always give the best advice. Everyone has an opinion on everything from investing to how to run your business. Be selective about who you listen to, and make sure the person you're talking to has already accomplished what you're trying to accomplish. It makes no sense to get insurance marketing ideas from someone who's broke!
14. Have Fun
Don't be such a sour puss. People like to be around fun people. Try to enjoy the process of building a business. Look at it like a game, and make it a challenge to overcome all the obstacles.
Just don't let the day-to-day annoyances sour you and your attitude.
15. Make Friends And Family Your Top Priority
Don't be a workaholic. When you're on your deathbed, you won't be regretting that you didn't spend enough time at the office. The most important people in your life are your friends and family, so don't have them play second fiddle to your business. Your business should fund your personal life; it shouldn't be the other way around.
16. Treat Other People The Way You Would Like To Be Treated
We've all come across people who go around treating sales and service people poorly, and then they complain that no one returns their calls. Most people will do anything for someone (within
reason, of course) as long as they treat them nicely. The saying goes "You catch more bees with honey than with vinegar." The same goes for people.
17. Find Good Mentors
By far, the single biggest factor in all of my successes has been finding the right mentor.
I have had business mentors, sports mentors, relationship mentors. You name it. Whenever I want to accomplish a goal, I find someone who has already accomplished it, and I ask for
their advice and help. Sometimes, I pay for the advice. Sometimes, I don't. It really depends on the person and what I'm asking them to help me with. Go out and find a mentor who has already done what you're trying to do. You'll achieve your goals a lot faster. Or if you would like to be mentored by the top personal coaches in the financial services industry on "How To Double Your Net Income While Taking Off At Least One Extra Day Per Week," Click Here for details
on our Top Producer Personal Coaching / Mentoring Program.
18. Be A Giver Not A Taker
There are very few rules that I think are universally true, but this is one of them...
The More You Give, The More You Get!
Don't be a miser with your clients, your employees, your spouse, your children, your friends, and people who ask for your help. Give it to them and don't expect anything back in return. I promise you that if you do this, something amazing will happen...
You will get abundance. Abundance of money, friends, love, and everything else you've ever wanted. I once heard a great saying about this, "You can get whatever you want out of life if you help enough other people get what they want out of life."
19. Don't Be A Whiner!
Have you ever heard the saying "A bad carpenter always blames his tools"? It's so true. Most people are hell-bent on blaming everyone but themselves for the problems in their business and their life. Take responsibility for your own actions and do what's necessary to change what's not working. Just don't go around blaming other people.
20. Become A Lifelong Student
You know when I know someone is headed for disaster? When they tell me they don't need to go to a seminar because they already know everything. I consistently invest 20% of my net income into self education so I can continue to grow as a businessman and a human being. There is always something or someone you can learn from. Never cut yourself off from learning something new!
21. Motion Is Better Than Meditation
Gary Halbert, a famous direct marketer, once said that motion (doing something) is far better than
meditation (thinking about doing something). Stop waiting to try a new marketing method until everything is perfect. Just do it. Motion creates momentum which leads to success. So, don't sit still and think about everything, just do it!
22. Base All Your Financial Decisions On Return On Investment
One of my top members, Tim Austin, came up with what he calls a rule. Before he makes any investment in his business, he figures out how many extra sales he needs to make to
cover the cost. If it sounds achievable, he goes for it and never looks back. You should do the same in your business. Well, that about sums it up. If you would like more information on insurance marketing ideas and how to get more leads, sales, and referrals for your business, CLICK HERE to get a copy of our FREE report which reveals "How Any Insurance
Agent OR Financial Advisor Can Add An Extra $5,000 - $25,000 Per Month To Their Existing Business With No Cold-Call Prospecting!"
For more FREE articles, tips, newsletters and expert opinions on how to get more qualified leads, sales, and referrals for your business, you can visit the leads4Insurance website at http://www.leads4insurance.com . Or, you can sign up for Brian Kay's FREE Marketing Tips Newsletter which contains dozens of proprietary marketing secrets and strategies on how to skyrocket your sales and profits. To subscribe, simply send a blank email message to:
leads4insure2@aweber.com .
Brian J. Kay, Executive Director, Leads4Insurance
921 Port Washington Blvd., Suite # 3
Port Washington, NY 11050
tel: (516) 944-6700 fax: (516) 944-5275
email: info@leads4insurance.com
This article is copyright © by
Leads4Insurance.com . All Rights Reserved
Article with permission from FYI Express
|
| ETI ACCORD FOR DUMMIES FREE |
|
|
| UNCLAIMED PROPERTY BIG DOLLARS |
|
ANNUAL AUCTION NETS $1.4 MILLION
Unclaimed property phone banks reach thousands Recently, CFO Sink held the Unclaimed Property Auction in Ft. Lauderdale and announced a net of $1.4 million, the most ever garnered by the annual auction. As part of the activities leading up to the auction, the Bureau of Unclaimed Property held phone banks in Ft. Myers and Jacksonville to spread the word to Floridians that they may have money or property due to them. As a result of the Ft. Myers event on October 20, citizens in the Ft. Myers area found 255 unclaimed property accounts totaling $33,622.59. For one week after the phone bank citizens in the Ft. Myers area claimed 3,446 additional unclaimed property accounts totaling $727,687.88. Totals from the Jacksonville phone bank held this week on Tuesday, November 3, are not in yet, but during the phone bank hours on Tuesday the Bureau took 300 consumer calls. Following the phone bank event 1,003 calls were received on the Unclaimed Property Hotline on Wednesday and 1,205 on Thursday. Normally the Unclaimed Property Hotline fields about 450 daily. No need to wait for a phone bank in your area - you can look for your lost property or money at http://www.fltreasurehunt.org or call 1-88-Valuable. |
| U.S. SECURTIY INSURANCE MOTORCYCLE PROGRAM |
|
|
| FLOOD INSURANCE LEARN AND EARN |
|
FLOOD MYTH OR FACT
- MYTH: You can't buy flood insurance if
you are located in a high-flood-risk area.
FACT: You can buy National Flood
Insurance no matter where you live if your
community participates in the NFIP, except in
Coastal Barrier Resources System (CBRS) areas.
The Program was created in 1968 to make federally
backed flood insurance available to property
owners who live in eligible communities.
Flood insurance was then virtually unavailable
from the private insurance industry. The Flood
Disaster Protection Act of 1973, as amended,
requires federally regulated lending institutions
to make sure that mortgage loans secured by
buildings in high-flood-risk areas are protected
by flood insurance.
Lenders should notify borrowers, prior
to closing, that their property is located in a
high-flood-risk area and that National Flood
Insurance is required.
- MYTH: You can't buy flood insurance
immediately before or during a flood.
FACT: You can purchase National Flood
Insurance at any time. There is usually a 30-
day waiting period after premium payment
before the policy is effective, with the following
exceptions:
1. If the initial purchase of flood insurance is
in connection with the making, increasing,
extending, or renewing of a loan, there is no
waiting period. Coverage becomes effective
at the time of the loan, provided application
and payment of premium is made at or prior
to loan closing.
2. If the initial purchase of flood insurance is
made during the 13-month period following
the effective date of a revised flood map for a
community, there is a 1-day waiting period.
This applies only where the Flood Insurance
Rate Map (FIRM) is revised to show the
building to be in a Special Flood Hazard Area
(SFHA) when it had not been in an SFHA.
The policy does not cover a "loss in progress,"
defined by the NFIP as a loss occurring as of
12:01 a.m. on the first day of the policy term.
In addition, you cannot increase the amount
of insurance coverage you have during a loss in
progress.
- MYTH: Homeowners insurance policies
cover flooding.
FACT: Unfortunately, many home and business
owners do not find out until it is too late
that their homeowners and business multiperil
policies do not cover flooding. The NFIP offers
a separate policy that protects the single most
important financial asset, which for most people
is their home or business. Homeowners can
include contents coverage in their NFIP policy.
Residential and commercial renters can purchase
contents coverage. Business owners can purchase
flood insurance coverage for their buildings and
contents/inventory and, by doing so, protect
their livelihood.
- MYTH: Flood insurance is only available
for homeowners.
FACT: Most people who live in NFIP participating
communities, including renters and
condo unit owners, are eligible to purchase federally
backed flood insurance. A maximum of
$250,000 of building coverage is available for
single-family residential buildings; $250,000 per
unit for residential condominiums. The limit for
contents coverage on all residential buildings is
$100,000, which is also available to renters.
Commercial structures can be insured to a
limit of $500,000 for the building and $500,000
for the contents.The maximum insurance limit
may not exceed the insurable value of the property.
- MYTH: You can't buy flood insurance if
your property has been flooded.
FACT: You are still eligible to purchase
flood insurance after your home, apartment, or
business has been flooded, provided that your
community is participating in the NFIP.
- MYTH: Only residents of high-flood-risk
areas need to insure their property.
FACT: All areas are susceptible to flooding,
although to varying degrees. If you live in a low to-
moderate flood risk area, it is advisable to
have flood insurance. Between 20 and 25 percent
of the NFIP's claims come from outside
high-flood-risk areas. Residential and commercial
property owners located in low-to-moderate
risk areas should ask their agents if they are eligible
for the Preferred Risk Policy, which provides
very inexpensive flood insurance protection.
- MYTH: National Flood Insurance can
only be purchased through the NFIP directly.
FACT: NFIP flood insurance is sold through
private insurance companies and agents, and is
backed by the federal government.
-
MYTH: The NFIP does not offer any type
of basement coverage.
FACT: Yes it does. The NFIP defines a basement
as any area of a building with a floor that
is below ground level on all sides. While flood
insurance does not cover basement improvements
(such as finished walls, floors, or ceilings),
or personal belongings kept in a basement (such
as furniture and other contents), it does cover
structural elements and essential equipment.
The following items are covered under building
coverage, as long as they are connected to a
power source, if required, and installed in their
functioning location:
· Sump pumps
· Well water tanks and pumps, cisterns, and
the water in them
· Oil tanks and the oil in them, natural gas
tanks and the gas in them
· Pumps and/or tanks used in conjunction
with solar energy. Furnaces, water heaters, air conditioners, and
heat pumps
· Electrical junction and circuit breaker boxes
and required utility connections
· Foundation elements
· Stairways, staircases, elevators, and dumbwaiters
· Unpainted drywall walls and ceilings,
including fiberglass insulation
· Cleanup
The following items are covered under contents
coverage:
· Clothes washers and dryers
· Food freezers and the food in them
The NFIP recommends both building and contents
coverage for the broadest protection.
-
MYTH: The NFIP encourages coastal
development.
FACT: One of the NFIP's primary objectives
is to guide development away from high-floodrisk
areas. NFIP regulations minimize the impact
of structures that are built in SFHAs by requiring
them not to cause obstructions to the natural
flow of floodwaters. Also, as a condition of community
participation in the NFIP, those structures
built within SFHAs must adhere to strict
floodplain management regulations enforced by
the community.
In addition, the Coastal Barrier Resources Act
(CBRA) of 1982 relies on the NFIP to discourage
building in fragile coastal areas by prohibiting
the sale of flood insurance in designated CBRA
areas. While the NFIP does not prohibit property
owners from building in these areas, any Federal
financial assistance, including federally backed
flood insurance, is prohibited. However, the
CBRA does not prohibit privately financed development
or insurance.
-
MYTH: Federal disaster assistance will
pay for flood damage.
FACT: Before a community is eligible for
disaster assistance, it must be declared a federal
disaster area. Federal disaster assistance declarations
are issued in less than 50 percent of flooding
events. The premium for an NFIP policy,
averaging a little over $400 a year, can be less
expensive than the monthly payments on a federal
disaster loan.
Furthermore, if you are uninsured and receive
federal disaster assistance after a flood, you must
purchase flood insurance to remain eligible for
future disaster relief.
-
MYTH: The NFIP does not cover flooding resulting from hurricanes or the overflow of rivers or tidal waters. FACT: The NFIP defines covered flooding as a general and temporary condition during which the surface of normally dry land is partially or completely inundated. Two properties in the area or two or more acres must be affected. Flooding can be caused by: · Overflow of inland or tidal waters, or · Unusual and rapid accumulation or runoff of surface waters from any source, such as heavy rainfall, or · Mudflow, i.e., a river of liquid and flowing mud on the surfaces of normally dry land areas, or · Collapse or subsidence of land along the shore of a lake or other body of water, resulting from erosion or the effect of waves, or water currents exceeding normal, cyclical levels. For more information about the NFIP and flood insurance, call 1-800-427-4661, or contact your insurance company or agent. For an agent referral, call 1-888-435-6637 · TDD 1-800-427-5593 http://www.fema.gov/business/nfip · http://www.floodsmart.gov
Reprinted from FEMA and Floodsmart |
| MORSTAN WHATS SELLING |
|
| ACCU-AUTO FREE 30-DAY DEMO |
|
|
| FYI |
|
Florida Insurance Commissioner Signs Order Establishing Citizens' Rate Adjustments
TALLAHASSEE, Fla. - Florida Insurance Commissioner Kevin McCarty yesterday signed an order establishing rates for the Citizens Property Insurance Corp.'s (Citizens) high-risk account.
The rates were reviewed to determine whether or not they were actuarially sound under Section 627.351(6)(n)5, Florida Statutes; the law requires Citizens, beginning July 15, 2009, to make rate filings for each personal and commercial line of business to be effective no earlier than Jan. 1, 2010. These rate filings begin the "glide path" to allow Citizens eventually to achieve actuarially sound rates. This will occur over time, as Citizens' rate adjustments are limited to a 10 percent increase for any policyholder per year.
A public rate hearing was held in Tallahassee on Nov. 10. The final rates are similar to the requested rates, although the Office did make adjustments.
"Recent legislation requires this office to establish the rates for Citizens' policyholders, and our actuaries did that in their usual deliberative and disciplined manner," said Commissioner McCarty. "The intent of the legislation is to annually adjust Citizens' rates so they become actuarially sound."
Although the Florida Legislature capped Citizens' annual rate increases at 10 percent, one line of business shows a higher increase because the law allows companies to pass on a cash build-up factor paid to the Florida Hurricane Catastrophe Fund to policyholders, which is not subject to the 10 percent limit.
The order also included technical guidelines to be followed when the next rate filings are made in 2010, and requires Citizens to respond to concerns raised regarding Monroe County rates.
Members of the grass-roots organization, Fair Insurance Rates in Monroe, gave a presentation at the public rate hearing expressing concern that the computer model Citizens uses to calculate rates does not take into account several factors specific to Monroe County.
The following are the approved statewide average high-risk account rate increases included in the order:
Homeowners: 5.2 percent
Dwelling Fire: 4.0 percent
Mobile Homeowners: 11.0 percent
Commercial Property - Nonresidential: 9.3 percent
Commercial Property Residential - Excluding Condo Associations: 9.4 percent
Commercial Property Residential - Condo Associations: 9.4 percent
About the Florida Office of Insurance Regulation The Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. The Office protects Florida consumers through regulatory oversight of: insurance company solvency, policy forms and rates, market conduct performance and new company entrants to the Florida market. For more information about the Office, please visit www.floir.com . If you would like to review and compare homeowners insurance rates in Florida, go to www.shopandcomparerates.com .
DOCKERY GETTING IN GOV'S RACEBy JOHN KENNEDY THE NEWS SERVICE OF FLORIDA THE CAPITAL, TALLAHASSEE, Nov. 3, 2009.......Sen. Paula Dockery jumped into the governor's race Tuesday, ending Bill McCollum's virtually unobstructed path to the nomination backed by most Republican leaders. The 48-year-old Lakeland senator said she planned to file campaign papers mid-afternoon Tuesday, walking the documents from the Capitol to the Secretary of State's office two blocks away. "Some may question why I would undertake this campaign, given that the leadership of the Republican Party of Florida seems to have anointed a candidate," Dockery said in remarks she planned to deliver at a news conference later Tuesday. "To them, I say this: people want a choice. People I meet don't want to be told what to think." Dockery clearly enters the race as a maverick - hoping that the visibility she gained through her two-year campaign against Central Florida's SunRail commuter train now leads to the governor's office. McCollum on Tuesday shrugged off Dockery's entry into the race, saying he had expected a primary opponent to eventually emerge - and that it would likely be the senator who has been talking about running for months. But McCollum said he was undeterred and still saw his real race being against Chief Financial Officer Alex Sink, the only major Democratic contender. "I'm focused on the race against the chief financial officer," McCollum said adding, "that's where my energies will be focused." McCollum concluded, "The two leading contenders are myself on the Republican side and the chief financial officer on the Democratic side....I don't see a divided party when it comes to this race." Meanwhile, McCollum picked up the endorsement Tuesday of former Gov. Jeb Bush, who subtly hit at Dockery's perceived moderate stance at a time when many conservative voters have been expressing displeasure with centrist candidates backed by the mainstream GOP. "At this critical time in our state's history, we need a chief executive who will meet our challenges head on and stay true to the core conservative principles of limited government, fiscal discipline and the protection of liberty tempered by personal responsibility," Bush said in a statement. Independent and Indispensable http://www.newsserviceflorida.com
Florida Insurance Consumer Advocate To Host Claims Dispute Resolution Roundtable
In July, Florida Insurance Consumer Advocate Sean Shaw hosted a roundtable to bring together members of the insurance industry and the home builders' industry to discuss how disputed claim issues could be identified and resolved in a fair manner. During that meeting, the participants identified several issues as contributing to claim disputes and made recommendations to address each issue. In order to continue this important work, the Roundtable will meet again to finalize their recommendations. The Roundtable's goal is to establish better communication and processes, so that in the future Florida homeowners can quickly get back into their homes after a loss, mitigate further damage to the property, hold down the cost of their claims and allow contractors to start repairs without delays.
A copy of the agenda is available on the Florida Insurance Advocates Website at: http://www.myfloridacfo.com/ICA/ClaimsDisputeResolutionRoundtable.asp .
Public Comments will be heard in the afternoon session. Those unable to attend the meeting may listen via conference call at Dial-in Number: (888) 808-6959, Conference Code: 4132880 or watch the roundtable on the Florida Channel's website at http://www.wfsu.org/tfc/index.php .
The Insurance Consumer Advocate is appointed by Florida Chief Financial Officer Alex Sink and is committed to finding solutions to insurance issues facing Floridians, calling attention to questionable insurance practices, promoting a viable insurance market responsive to the needs of Florida's diverse population and assuring that rates are fair and justified.
CFO Sink sweeps jobsites to protect Florida workers, cracks down on 55 employers
Florida CFO Alex Sink on Wednesday announced that her Division of Workers' Compensation has completed a statewide sweep of construction and non-construction industries, interviewing more than 900 employers and employees at hundreds of jobsites across Florida. The sweep cracked down on 55 employers who were violating workers' compensation laws, issuing stop work orders to the employers for violations such as failing to provide coverage, under-reporting payroll, and misclassifying job duties. "Florida workers deserve protection, because if injured on the job they can face devastating medical bills and serious financial hardship if their employers aren't properly covered," said CFO Sink. "Our statewide workers' comp sweep is the latest enforcement effort we have taken to ensure that Floridians aren't facing unnecessary risks because their employer has chosen to skirt the law." During the two-day sweep, investigators interviewed employees and employers on jobsites and were able to utilize technological resources to verify information in real time before leaving each individual site. This real-time verification allowed for appropriate action to be taken immediately when necessary. Examples of non-compliance include operating a jobsite without workers' compensation coverage, under-reporting payroll such as paying employees in cash instead of payroll checks, and misclassifying employees in order to receive a lower workers' compensation rate. "This type of proactive enforcement also helps our state's businesses who are vigilantly following the law, because it creates a level playing field and cracks down on those who are trying to cheat the system," CFO Sink continued. In addition to the recent workers' comp sweep, CFO Sink's Division of Workers' Compensation this June launched a Non-Compliance Referral Database, which allows citizens to anonymously submit suspected workers' comp violations online and get real-time feedback about their complaints. The Division has already received over 1,000 referrals online, resulting in 149 enforcement actions and $5.6 million in assessed penalties. As Florida's CFO, Sink oversees the Department of Financial Services' Division of Workers' Compensation, which conducted nearly 30,000 onsite investigations to determine employer compliance in the 2008-2009 fiscal year. For more information about CFO Sink's Division of Workers' Compensation or to submit a complaint, visit www.MyFloridaCFO.com or call (850) 413-1609.
|
| TAX PREP EARN $300.00 PER HOUR |
|
|
| TRUE AMERICAN SPIRIT |
LEMONS OR LEMONADE IT'S FRIDAY MORNING, I 'VE JUST WOKEN UP (MY GOAL FOR EACH DAY). I'VE BEEN PARKED IN THE MOTORHOME LOT AT HOMESTEAD RACEWAY SINCE WEDNESDAY.  THERE IS STILL ABOUT 40% OF THE SPACES VACANT. THEY SAY IT'S A SIGN OF THE TIMES. AFTER MAKING THE COFFEE, I'M OUT WALKING THE DOGS AND LOOK OVER A THE FENCE AND SEE SOMEONE IN THE TRUE AMERICAN SPRIT , IT'S SOMEONE WHO REFUSES TO GIVE UP HE'S IN AN EARLY SIXTY'S BEETLE, IT'S ABOUT 8 FEET FROM THE FENCE AND TIED BETWEEN THE TWO IS A HAMMOCK WITH A TARP TIED ABOVE IT ALL FOR SOME PROTECTION AS WELL WHILE STANDING THERE WAITING ON THE DOGS, A PERSON WALKS BY ME AND SAY'S "WHY DIDN'T HE JUST SLEEP IN HIS CAR?" SURE HE COULD HAVE JUST SLEPT IN THE CAR, BUT INSTEAD HE PUT A LITTLE THOUGHT IN IT HE'S TAKEN CONTROL AND WANTS TO EXPERIENCE AS MUCH AS POSSIBLE. HE'S TAKEN A LOOK AT HIS SURROUNDINGS AND HAS ON HIS TERMS MADE THE MOST OF IT. I HAVEN'T SPOKEN TO HIM YET, BUT WHEN HE WAKES UP, I'LL OFFER HIM SOME COFFEE AND A HOT SHOWER.
IN THESE TOUGH TIMES THIS IS LESSON FOR ALL OF US
IN THE AMERICAN SPIRIT, HAVE A GREAT THANKSGIVING
SIGNED FROM,
YOUR STORE FRONT OPERATOR |
| FIRST INSURANCE NETWORK INCREASES AGENCY PROFITS |
|
|
|
SPECIALTY INSURANCE AGENTS ASSOCIATION MEMBERSHIP AND BENEFITS |
|
WHY SHOULD I BE A MEMBER OF SPECIALTY INSURANCE AGENTS ASSOCIATION ?
Benefits of being a member of an agent's organization
- Being a member of an Association provides strength to the industry.
- Specialty Insurance Agents Association provided assistance to agents in getting their agencies licensed.
- Specialty Insurance Agents provided the classroom course for agents to meet their Citizens Insurance requirements.
- UNITE
- Higher commissions through our flood program. We have negotiated a flood program paying the agency 20% on new business and 20% on renewal business plus 1% to your ASSOCIATION. You can sign up to write flood insurance even if you don't have a homeowners market.
- E & O INSURANCE available
- Annual convention and trade fair.
- Members can receive FREE CE credits on all classes offered at convention.
- Industry Designation (to be presented at the 2009 convention).
- Specialty Insurance Agents Association has entered into an agreement with the University of Central Florida to sponsor an Industry Designation for the Agent and CSR. The Designation will be available in 2009.
- Board Members available to assist members with questions or problems.
- Assistance in obtaining appointments with companies. At the annual convention/trade fair there are several dozen participating companies looking to appoint agents. While appointments cannot be guaranteed, we can initiate an introduction for you to the marketing staff of these companies.
Want to become a member of Specialty Insurance Agents Association? Just call to receive the new membership application emailed, faxed or download form today. Don't delay call Susan Graves at 1-888-290-8436
|
| NIU HAS THE RIGHT TOOLS |
|
| WE ARE BETTER PREPARED FOR THE BIG ONE |
|
IMPROVED MARKETS STRENGTHEN CAT FUND
By KATHLEEN HAUGHNEY
THE NEWS SERVICE OF FLORIDA
THE CAPITAL, TALLAHASSEE........State financial analysts say the state is better prepared for a major hurricane than a year ago thanks to a stabilizing financial market.
Advisers for the Hurricane Catastrophe Fund, which reimburses insurance companies facing extraordinary claims following a hurricane, are set to meet Tuesday and release the latest projections of the fund's bonding capability, and thus its ability to make pay outs in the event of a bad hurricane, or a series of big storms.
The fund has greatly expanded in the past few years, making it potentially more dependent on bonding if a Katrina-like hurricane should hit Florida.
Last year, as the markets crumbled, the fund's ability to bond diminished as well. In October 2008, CAT Fund analysts estimated that the fund would fall $15 billion short of its theoretical capacity of $28 billion.
It had about $10 billion in liquid assets, but could only bond up to about $3 billion, meaning the state could safely and efficiently handle minor events. But if a monster storm had hit the state at that time, CAT Fund officials would have struggled to come up with the money.
However, CAT Fund chief operating officer Jack Nicholson said the strengthening markets have turned the situation around. Plus, a combination of legislative action and decisions by insurers have decreased the state's obligation from about $28 billion to $23.17 billion.
"That kind of helped us out in the big picture," Nicholson said.
A draft report by CAT Fund advisers states that the fund should be able to bond up to $11 billion under the current market conditions, making Nicholson and other state officials breathe a bit easier. That combined with current liquid assets, would give the fund $19 billion, only about $4 billion short of the theoretical capacity.
State officials traveled to Washington D.C. regularly over the past year to meet with members of the Florida congressional delegation to discuss potential federal options that could back up the CAT Fund. U.S. Sen. Bill Nelson, D-Fla. also pushed for legislation to help catastrophe funds nationwide after the U.S. treasury indicated that it was opposed to extending a line of credit to the state should it face a major hurricane.
--END--
10/19/2009
Independent and Indispensable
www.newsserviceflorida.com
|
| QUICKFILE #1 AGENCY MANAGEMENT SOFTWARE |
|
| |
- WE WANT TO KNOW WHAT YOU WANT.
- ARE THERE SOME OTHER TOPICS YOU WOULD LIKE TO SEE IN THE UNITE?
- REMEMBER WE PUBLISH THIS FOR YOU.
- SO CALL US OR EMAIL TODAY WITH YOUR IDEAS.
- WE ARE A BOARD OF TWELVE , FROM DIVERSE TYPES OF AGENCIES, WITH MORE THAN 150 YEARS OF EXPERIENCE.
Sincerely,
|
|
SPECIALTY INSURANCE AGENTS ASSOCIATION
|
|
|
|
|
