Welcome to the latest issue of the Independent Insurance Agents of Oklahoma newsletter, your source for the latest insurance news in Oklahoma.
The mission statement of the Independent Insurance Agents of Oklahoma, working in the public's best interest, through active member participation, is to be the unrelenting advocate of independent insurance agents and to fulfill the education, political, and business needs of its members.
OKLAHOMANS AND THE NATION HELPED THOSE AFFECTED BY THE TORNADOS
The response to help people that have been affected by the tornadoes has been unbelievable. At our office we got calls daily from all over the country offering help. The Disaster Relief funds we have collected total $61,000 total with $12,250 going to the National Trusted Choice Disaster Relief Fund, $18,950 that was sent to our IIAO Foundation and distributed directly to our members that lost their homes and $29,800 that was sent to the Regional Food Bank to help those families that needed help feeding their families.
Thank you on behalf of all those affected for your outpouring of prayers, support and help. You helped to make a huge difference.
CHALLENGE CUP - NEW TOURNAMENT ADDED
August 14 is the next scheduled event for the Challenge Cup hosted by CPCU at KickingBird Golf Club in Edmond. Register today by downloading a registration form here.
NEW event for the Challenge Cup series! Hypopanty Golf Redux is scheduled for Friday, September 6, at Winter Creek Country Club in Blanchard, OK. Golfers will gather at 9:00 a.m. for a full breakfast, followed by a shotgun start at 10:00 a.m. Breakfast, range balls, green fees and cart included. Click here for more information and to download a registration form.
POLICY MAGAZINE REQUEST
The May tornadoes had such a profound effect on Oklahoma and on the insurance industry. Our next Policy magazine will document the impact on our members in a variety of ways. We need your help to do that. Please send us photos with short stories about the impact on your agency employees, your clients, your agency, the companies you represent or the insurance industry as a whole - or anything else you think important to say as this matters so much to our state and your profession.
Please email articles and photos to Cathy Cinotto at firstname.lastname@example.org by August 5th.
FOOD BANK UPDATE
IIAO's volunteer day at the Regional Food Bank on July 10, was a great success as staff and 34 agency members boxed up enough food to make 23,195 meals! In just three hours our group sorted and boxed a total of 27,834 pounds of food. The Food Bank was super busy after the May disasters swept through our state. They saw an increase of 32% in distributions in June as compared to the same month in 2012. Many thanks to our members for giving of their time for this valuable and much needed volunteer effort.
ATTENTION KAIROS EXHIBITORSReserve your spot for Kairos - a conference for small or rural agencies. The Kairos trade show is scheduled for October 29 from 4-7 pm at the Marriott Hotel in Oklahoma City. About one-third of the booths are already taken, so remember to sign up. Download and complete an Exhibitor Kit today to reserve your spot.
WATCH YOUR MAILBOXThe Kairos registration brochures are in the mail. KAIROS - a conference for small and rural agencies will be held October 29-30 at the Marriott Hotel in Oklahoma City. The agenda for October 29 includes another terrific trade show and breakout sessions from commercial casualty topics to risk management. Remember to register for the tour of Hobby Lobby's facilities on the following morning of October 30. The tour will be led by one of Hobby Lobby's risk managers who will explain some of the risk management tools they use to control costs. Download a registration form here,
Trusted Choice/IIABA News
TRUSTED CHOICE® TO RAISE MONEY FOR MAKE-A-WISH® WITH SOCIAL MEDIA CAMPAIGN
The Trusted Choice® campaign to raise money for Make-A-Wish while promoting the independent insurance agency brand with consumers will kick off on Aug. 1.
With each "share" from the Trusted Choice Facebook page throughout the month, Trusted Choice will donate $10 to Make-A-Wish. Trusted Choice is also committed to donating a minimum of $100,000 and a maximum of $150,000 with this campaign.
The 2012 campaign reached 3.9 million unique consumers per week at its peak and raised $150,000 overall for Make-A-Wish.
THE CONSUMER AGENT PORTAL (CAP) IS NOW LIVE!
More and more consumers shop online. Increase your presence by joining thousands of other independent agents who have completed their Trusted Choice profile on the portal to receive leads from those consumers who are shopping online. There are more than 30,000 Trusted Choice agents nationwide. As more agents complete their CAP profile, the higher ranking your agency will have on Internet search engines. It is quick and easy to complete your profile at www.projectcapmarketing.com. Follow the easy steps on this flyer or check out this video tutorial and complete your profile today.
Agents can sign up for a tutorial webinar, which will be held each Tuesday at 11 a.m. ET. If you have any questions on the program or need assistance, please call Project CAP at 855-372-0070 or email@example.com.
COMMISSIONER DOAK URGES SCHOOLS TO ANALYZE FINANCIAL STATEMENTS BEFORE ENTERING INTERLOCAL AGREEMENTS
The Oklahoma Insurance Department (OID) has launched a new webpage to help protect Oklahoma school districts considering interlocal insurance agreements.
"The goal here is transparency," said Oklahoma Insurance Commissioner John D. Doak. "By making these financial statements readily available, school leaders can make well-informed decisions. The worse-case scenario is for one disaster to leave multiple schools in financial ruin. We can't let that happen. We have to make sure these interlocal insurance pools are adequately covered for a significant loss."
Local school districts often enter into interlocal cooperative agreements to pool their liability and property risks. Until the passage of Senate Bill 692, the self-insured pools were not required to submit their financial statements to OID. Gov. Mary Fallin signed the bill into law in May, effective immediately.
Interlocals must file an audited financial statement with OID within 180 days after the end of their fiscal year. Failure to file a timely report may result in a $500 per day fine.
The statement must include the report of an independent certified public accountant, a balance sheet reporting assets, liabilities and equity, footnotes to financial statements and statements of operations, cash flows and changes in assets, liabilities and equity.
Once received, the financial statements will be posted at http://www.ok.gov/oid/Interlocals.html.
AGENTS' E&O INSURANCE & RISK MANAGEMENT PROGRAMS
For more than 50 years, insurance agents and brokers across America have trusted Swiss Re Corporate Solutions to protect their business, reputation and assets. Swiss Re Corporate Solutions is proud to be endorsed by the IIABA and all Big "I" state associations nationwide.
Based on our experience and strong commitment to the Agency E&O market, the IIABA-Swiss Re Corporate Solutions Agency E&O program is considered a benchmark in the industry. Click here for the E&O program features.
THE NUMBER - ONE MONEY- SAVING TIP FOR INSURANCE
Now that it's cool to be thrifty, it's easy to find money-saving tips on everything from groceries to your mortgage. You'll find lots of advice about cutting insurance costs, and the advice is usually pretty good. A few of the most popular tips for lowering your insurance premiums are:
Getting several quotes
Increasing your deductible
Applying for discounts (multiple policy discount, safe driver discount, etc.)
But if you're looking to save hundreds, even thousands, on your insurance costs, consider Dave's number-one tip: Purchase your coverage through an independent insurance agent, which is an agent who represents several insurance companies instead of working for just one carrier.How can an independent agent save you money?
Click here to continue reading the article. You may re-print or use this article to help promote your agency.
REAL LIFE PERSONAL UMBRELLA CLAIMS SHOW
A Personal Umbrella Policy (PUP) is a necessary addition to insurance protection for most insureds. Are you aware of the importance of this valuable coverage? One of the best ways to understand the need for a personal umbrella is to review actual claims examples. It is very clear that an incident arising from just normal daily activities can expose all of us to the potential for a large claims suit.
The link below lists actual RLI PUP claims. These claims show the very real consequences of situations that quickly exhaust underlying liability limits and threaten the net worth of the people involved.
Click here to read the claims.
CISR COMMERCIAL PROPERTY
Commercial Property insurance is one of your business customers' greatest concerns. You'll improve your cross-selling abilities with up-to-date knowledge of commercial property coverage, and reduce E&O exposures. This course gives you the skills to address these issues with ease and confidence.
CISR DYNAMICS OF SERVICE
The Dynamics of Service Program is designed for all agency personnel - from agency principals to receptionists. This program provides essential information needed to survive future competition for an agency's clients. This course integrates proven techniques for effectively serving customers. This national curriculum encompasses five key areas:
Traits of successful customer service representatives
Understanding basic customer needs
Building rapport and influence with customers and insurance carriers
Development of skills in listening and communication; and
Refining service skills for sales organizations.
This class will be in Tulsa on August 28th
and qualifies for 8 hours of CE including 1 hour of ethics and 1 hour of legislative credit.
CRM CONTROL OF RISK
CRM is returning to Tulsa September 11-14. Risk control is a core aspect of risk management. This course will make you proficient in all the risk control essentials, including safety, alternative dispute resolution, employment practices liability, and crisis management.
This course is approved for 20 hours of CE in Oklahoma which includes 2 hours of ethics and 1 hour of legislative credit. Click here for more information or to register.
National Security Fire & Casualty Company
Mid-Continent Casualty/Mid-Continent Group
Mercury Insurance Group
Union Standard Insurance Group
Comp Risk Management
Independent Insurance Agents Association of OKC
IIAO Eagle Agency
One General Agency
Specialty Insurance Managers of Oklahoma
Central Insurance Companies
Liberty Mutual Insurance
Midlands Management Corporation
EMC Insurance Companies
Taber Brokerage Services
Patriot National Underwriters, Inc./Old Glory Insurance Company
Columbia Insurance Group
Chubb Group of Insurance Companies
M.J. Kelly Company
National American Insurance Company
State Auto Insurance Companies
Union Mutual Insurance Company
The Hanover Insurance Group
Swett & Crawford of Texas, Inc.
Triangle Insurance Company
Farmers Alliance Insurance Companies
Cornerstone National Insurance Company
Equity Insurance Company
Risk Placement Services
Westphalen Insurance Services
Republic Group of Insurance Companies
Bailey Special Risks, Inc.