February La Voz 2013

3900 Singer Blvd. NE • Albuquerque, NM 87109 • 505.345.7260 or 800.788.8851 • www.NewMexicoMutual.com

New Mexico’s Experts in Workers’ Compensation Insurance.

We LOVE your business.

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If you have any questions, please contact your sales representative.

Bring your business home toNew Mexico Mutual and celebratewith a 5% increase in commission onNEW BUSINESS* bound with effective dates through February 2013.

We appreciate your business and our partnership! We look forward to providing your clients the opportunity to put their business with a New Mexico company.

*Excludes accounts that were insured with New Mexico Mutual in the previous 6 months, short-term policies, rewritten policies, and renewal policies.

IIANM Staff

2012-2013 Officers

ChairPJ WolffVice-ChairDiana HobbsSecretary/TreasurerGabe PortilloNational DirectorSam ConleeImmediate Past ChairScott Jones

FeaturesThis publication is intended to provide accurate and authoritative information on the subject matter covered, but is distributed with the understanding that neither IIANM, nor any contributing author, publisher, contributor or advertiser is rendering legal, accounting or any other professional service and assume no liability whatsoever in connection with its use. Further, the electronic links to our advertisers and/or contributors found in this publication are provided as a courtesy to our readers and do not necessarily indicate an endorsement by IIANM. News items from members of Independent Insurance Agents of New Mexico and the general insurance industry are encouraged. The advertising deadline is the fifteenth day of the month, preceding publication.

Advertising rates are available upon request.Please contact Rachel Sheffield at [email protected] for details

2013 - Become an IIANM Company Partner 04

Annual Education Seminar - Get Your 15 CE Hours 05

‘Slow & Steady’ P&C Rate Increase Likely to Continue in 2013 07

Save the Date for Convention! 09

Free Webinar ‘Getting a Grip’ 09

Reacting to a Carrier Downgrade or Carrier Assessment Decision 11

Agencies Expand Use of Market Access Providers 14

Why Your Agency Needs a Social Media Policy 17

‘What’s In A Name?’ Title Your Emplyees Appropriately 18

Can One CGL Insured Sue Another One? 20

How to Have Your Best Year Ever 22

Industry Tidbits 24

IRS New Mileage Rates & Deductibility of Dues 25

Will Rates Continue to Firm in 2013 26

Tech Talk 12

January's Clickable Calendar 30

Odds n Ends 31

In Every Issue

Advertiser Index

"The Voice" of Independent Agents since 1934

President/CEOThom Turbett

Vice President of Member ServicesConsuelo Trujillo

Vice President of Insurance ProgramsJulie A. Franchini

Communications DirectorRachel Sheffield

Member Services Associate Renee Trujillo

“La Voz” is the official monthly e-publication of the

Independent Insurance Agents of NM 1511 University Blvd. NE Albuquerque, NM 87102.

(505) 843-7231. Fax (505) 243-3367. Web site www.iianm.org.

La

oVZ

Acuity 06

Burns & Wilcox Back Cover

Litchfield Special Risks 16

Lovelace Health Plan 21

Market Finders, Inc. 10

MexiPass 19

Mountain States Insurance Group 25

New Mexico Mutual 02

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http://www.iianm.org

Page 4 Independent Insurance Agents of New Mexico - www.iianm.org - * February 2013

Become a Partner!

We invite companies to experience the enormous networking, recruiting and branding opportunities presented by becoming an IIANM Corporate Partner. Our Associate's Partnership program puts supporters front and center in a meaningful and memorable fashion.

The Partners Program is a win-win situation for both IIANM and its Partners. Our Partners appreciate this "one-stop" approach to supporting IIANM

and its members. From IIANM's point of view, it saves time and resources formerly spent soliciting for event sponsors.

Benefits to you:

• Support the Agency Distribution System: Your backing makes it possible for IIANM to develop affordable, quality programs that enhance the professionalism of New Mexico's independent insurance agents.

• Substantial Savings:The value of the various benefits you receive as an IIANM Partner far exceeds the cost!

• Unique Perks:Many of the perks you receive as an IIANM Partner are not available to other companies - at any cost.

• First Pick:Diamond, Platinum, and Gold Partners are guaranteed first pick of sponsorships and exhibit space at IIANM events.

• No Hassle:We will not solicit money from you again this year!

Six levels of participation are available:

For more information, to view a graph with a breakdown of what each level is entitled to, and for a pledge form, click here.

Contact Consuelo Trujillo at 505-999-5804 or [email protected] with any additional questions.

Diamond

Platinum

Gold

Silver

Bronze

Copper


http://www.iiaba.net/webfolder/nm/membershp/2013/2013%20Partnership%20Program.pdf

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Page 4 Independent Insurance Agents of New Mexico - www.iianm.org - * February 2013 Independent Insurance Agents of New Mexico - www.iianm.org - * February 2013 Page 5

Click here to view full brochure

and to register

March 19th & 20th, 2013Crowne Plaza, Albuquerque, NM

twoOneCommercialLines

PersonalLines

Young Agents Professional Development

Life &Health

Ethics

Day OneAfternoon

3/19/13

Day TwoAfternoon

3/20/13

Day OneMorning

3/19/13

Day TwoMorning

3/20/13

Business IncomeThe Mystery & How to Solve It

Bob Pratte, CIC

BOP

Betsy Carlson, RPLU, CIC, ASLI

Anatomy of a Claim /Green Insurance Coverage

Jeff Straight, CIC, LUTCF, AAI

Commercial InsuranceSelected Problems & Solutions

Bob Pratte, CIC

E&O Risk Management - Meeting the Challenge of Change

Jeff Straight, CIC, LUTCF, AAI*Policyholders of Swiss Re/Westport Insurance and Fireman’s Fund, this E&O course has been approved for credit on your E&O renewal. The number of required participants is based on

agency staff size. Contact Julie Franchini at [email protected] or 505-999-5802 to determine your agency attendance requirement.

Personal InsuranceDilemmas, Issues & Solutions

Bob Pratte, CIC

Parents:Your Kids &

Your Personal Lines Policies

Jeff Straight, CIC, LUTCF, AAI

Goal Setting & Goal Getting

PJ Wolff

NM Legislative Update

Thom Turbett

The Insurance Industry Leader

Dr. Theresa Cross, Phd

NM Health ConnectionsAffordable Care Act &

Exchange Update

Patty Padon, LUTCF, CIC, AAI

Disability Income

Michael Stark

Brian Taylor

COBRA ComplianceUpdate

C. Sue Bisbee

History of HealthInsurance

C. Sue Bisbee

4pm - 5pm 4pm - 5pm



http://www.iiaba.net/webfolder/nm/seminar/2013%20Ed%20Sem/brochure.pdf


RELAX.WE’VE GOT YOUR BACK.

www.acuity.com

facebook.com/acuitywow

FOR ALLTHATMATTERS



RELAX.WE’VE GOT YOUR BACK.

www.acuity.com

facebook.com/acuitywow

FOR ALLTHATMATTERS

Property-casualty rates for personal and commercial lines

rose gradually in 2012, a sign that pricing increases

may continue at a “sensible pace” over time, the latest

MarketScout Barometer report shows.

In December, commercial P&C rates were 5% greater on

average than December 2011 pricing, according to Mar-

ketScout, a Dallas-based insurance distribution and under-

writing company that releases the monthly pricing report. In

the first month of 2012, the average rate increase was 1%

over January 2011 levels.

Personal lines showed a similar trend: In December, per-

sonal P&C rates were 4% higher on average than Decem-

ber 2011 rates. Pricing at the start of 2012 was 2% greater

than rates of the same period in 2011.

MarketScout CEO Richard Kerr notes the firming rates

follow more than seven years of a soft market, but cau-

tions that the “turn is not like the last hard market of 2001

to 2005, when rates spiked as much as 30% in the early

stages.”

“For the 2012 market turn, rates have adjusted slowly and

steadily without any dramatic spikes,” Kerr says in the re-

port. “This slow and steady pace could foretell rate increas-

es at a more sensible pace and for a longer period of time.”

Meanwhile, Kerr points to underwriting profits from areas

outside of the Northeast as a factor that helped large per-

‘Slow and Steady’ P&C Rate Increases Likely to Continue in 2013

The market turn in 2012 is different from the dramatic hard market of 2001-2005, MarketScout says.

sonal lines insurers “smooth the impact of losses” from Su-

perstorm Sandy, which ravaged that region in late October.

Still, “those insurers writing excess and/or primary flood

were hit hard,” he adds. “We project rate increases for flood

insurance at +15% to +20%.”

Commercial P&C Pricing

By coverage class, auto finished 2012 with the greatest

rate increase at 6%, compared to December 2011 pricing,

according to MarketScout. It was followed by property and

general liability, which both were up 5%.

By account size, small accounts of up to $25,000 had the

largest rate hike in December at 6%, and jumbo accounts

of more than $1 million had the smallest rate increase at

3%.

By industry, transportation, manufacturing and service led

December rate increases, with pricing up 6% over Decem-

ber 2011 levels.

Personal P&C Pricing

In December, on average, personal articles rates were 4%

greater than December 2011 rates, according to Mar-

ketScout. Homeowners was up 4% and auto was up 3%.

by Victoria Goff, IA online editor




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We cover the west with only the best!

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Risk Placement Services, Inc.

We cover the west with only the best!

With multitudes of office locations to choose from,

placing a call with us will put you on the fast track

to providing the best solution for your clients.

Knowledge. Relationships.Trust and Confidence.

Underwriting and Brokerage from six locations (Casper, Boise, Salt Lake City, San Francisco, Scottsdale and Seattle)

Accounting and claims handled in Scottsdale

Proud members of AAMGA, NAPLSO, PLUS and various State Independent Agency Associations

Excellence in service

Relationship driven

Excess & Umbrella

Garage Liability & Physical Damage

General Liability

Inland Marine

Personal Lines

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SALT LAKE CITY, UT 800.453.3156(Formerly Transwestern General Agency)RPS TRANSWESTERN

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Webinar to address how independent agents can manage their social media spaces to best

communicate with customers and grow their business.

Friday, Feb. 15, 2013 at 1:00 p.m. EDT.

This webinar will provide “best practice” advice from agents and other industry leaders on how to successfully manage a social networking initiative and provide options for making social media management easier for agencies.

REGISTRATION: Go to https://www1.gotomeeting.com/register/126186488

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ADDITIONAL INFORMATION:An interactive panel of industry experts will answer questions regarding such topics as:

• How do I budget time on social media? • Where do I get content? • Who should manage my firm’s social media? • How do I protect myself from negative comments and take advantage of positive comments?

ACT TO HOST FREE WEBINAR:

“GETTING A GRIP: HOW TO MANAGE YOUR

INDEPENDENT AGENCY'S SOCIAL MEDIA”



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You placed the business in an approved market per your agency’s market selection process. In placing the busi-

ness you informed your client of the available options with alternate markets, and if the policy was assessable, pro-vided full details. In summary, you acted in a fully prudent manner by placing business in a market to protect both yourself from claim and your policyholder from financial loss.NOW, due to your agency’s current procedures that moni-tor the ratings and activities of your carriers, you discover that one of your carrier’s financial ratings has dropped significantly to a level below that approved by the agency’s selection process, or that it is considering assessing its policyholders due to financial problems.WHAT TO DO? The following checklist recommends ac-tions to be taken to provide the best service to your policy-holders while at the same time reducing the potential for claims against the agency.

PROTECT YOUR POLICYHOLDERS• Notify them in writing about what has happened and re-spond to any queries without delay. If a rating downgrade or potential insolvency issue, be prepared to explain the reasons given for the downgrade by referencing the com-ments of the rating agency. If an assessment issue, also notify any prior policyholders affected.• If a potential insolvency issue, make them aware of what protection exists via any state or other guarantee fund.• Keep policyholders informed as events transpire, including any open hearings that are scheduled. Let them know that you are concerned with keeping them informed.• Keep informed as to what the carrier is doing to notify your policyholders of its actions.• Use carrier supplied or approved notices whenever possible.• Avoid conflicting information being sent to the policy-holders.• Inform the policyholders about the implications of a midterm coverage move, a move at expiration, or remain-ing with the current carrier. Explain the possible loss of unearned premium if the carrier does become insolvent and coverage must be replaced midterm or the possibility of short rate cancellation terms if moved prior to actual insolvency or in an assessment situation.• Offer the policyholders the option to move coverage mid-term, and if declined, advise them that you will investigate replacement coverage at renewal with their agreement.• Let the policyholders make the decision regarding cov-erage. Have them confirm the option selected in writing.

• If coverage is moved midterm, at-tempt to secure prorated cancellation terms from the existing carrier due to the circumstances outside the policy-holder’s control.• Maintain positive relationships with both the carrier and policyholders. Policyholders should understand that you are looking out for their interests by doing all you can do to protect and inform them.

PROTECT YOURSELF• Immediately review the facts concerning the ratings downgrade or assessment action using your agency’s market selection and review process. Decide on a course of action and apply it consistently to all policyholders. Document all decisions reached and develop a written plan to follow.• Check with your Association concerning the issue and any recommendations or loss control measures it may recommend.• Consult with your own legal counsel regarding your ac-tions and the content of what is sent to policyholders.• Document all actions taken by the agency in responding to the situation.• Keep informed about the issue in order to answer poli-cyholder questions without delay and to demonstrate full and accurate knowledge to the policyholders.• In letters to policyholders consider using wording such as:

“As we discussed when you selected this coverage option…”“Per the summary sheet provided you/that you ini-tialed…”

The intent is to remind them that THEY made the decision and were properly informed as to all options available.

• Maintain a positive relationship with the carrier. Avoid any negative references regarding it or its actions.• Clear any correspondence with the carrier if required. Check your contract with the carrier to determine what your duties or limitations may be in regards to the issue.• Be consistent! If you do something for one policyholder, do it for all of them.

For more valuable agency E&O risk management informa-tion and tools available exclusively to Swiss Re policyhold-ers, visit www.independentagent.com/EOhappens.

REACTING TO A CARRIER DOWNGRADE OR CARRIER ASSESSMENT DECISION



http://www.marketfindersnm.com


SteveANderSoN.com

by, Steve Anderson(Always feel free to email me with comments, new ideas or products that have worked for you. I will check them out and spread the word!)

If you are not familiar with Hangouts, it's a feature within Google's Social Platform, Google+, that allows for live group chats with video webcam support.

For insurance agencies this is a great, free tool for quick feedback and interaction. It's easy to put together small groups. But, as you experiment, you may find that there are so many more ways to use Hangouts once you begin playing with it. It is definitely poised to help agencies of all types increase productivity through new ways of working and collaborating.

Here are five ways using Google+ Hangouts can increase productivity within your insurance organization.

1. Collaborate instantly with Google Docs Hangouts allow for a seamless connection with Google Docs. You can easily collaborate on documents with other employees (like proposals) within the same office or in another location across the country. Create a new doc or simply click the + symbol at the top of the sidebar to access your existing documents.

2. Connect with customers or prospects Like collaborating with other employees, you can also con-nect with clients who have a Google+ profile. Using Google Docs, you can now go over a new business proposal or re-view a renewal with an existing customer. A webcam helps provide a better visual experience and connection.

3. Share your screen with one click Sharing your screen with a colleague in the office, a cus-

tomer, or vendor is no longer a hassle. Now you can just ping that person or group and share your screen with them inside a Hangout. How about walking a customer through the claims process on the insurance company website? You could just take the information, but sharing a screen teaches them how to do it and ultimately streamlines your workflow.

4. Internal training Utilizing all of the above functionality, Hangouts can be a great way to implement training sessions, archive, and follow up with employees inside and outside of the office.

5. Sales tool It is easy to put together small group webinars using Hangouts. You can promote an upcoming Hangout where you will talk about a specific topic of interest to your target group, maybe for only 30 minutes. Topics are only limited by your creativity. A few examples of using webinars as a sales opportunity can include topics such as health care reform, what happens to homeowners' insurance when a parent goes into a rehabilitation facility, or 5 common limita-tions for a business owners policy.

For every Hangout, Google+ provides details after each as to who attended and who didn't. Follow-up is simplified by allowing you to contact those who were present, and invite those who were not to another hangout session. Google also posts about the Hangout in the participant's streams, which encourages discussion afterwards and keeps an ongoing dialog.

Five Ways Agencies Can Use Google+ Hangouts


mailto:techtip%40steveanderson.com?subject=

https://tools.google.com/dlpage/hangoutplugin


Did you receive a new gadget this holiday season? Or perhaps you gave one to a family member? If your new gadget is an Apple product, you might be wondering if the warranty from Apple was the best choice, or if a third-party warranty company might be a better option.

SquareTrade is one of the third-party warranty programs you might want to consider.

One thing that seems to be an advantage with Square-Trade is their focus on delighting their customers. Part of this customer service focus is to make sure their custom-ers receive a fair price, and not making customers jump through hoops to get a claim approved. Customers can file a claim online or over the phone, and track their progress every step of the way online. There are thousands of cus-tomer reviews on sites like Amazon, the Apple App store, and Google that give credibility to this claim.

SquareTrade provides warranty coverage for all sorts of products, including all Apple products and all generations of the iPhone and iPad.

To get a quote, simply visit SquareTrade. It's currently $99.00 for a two-year iPhone warranty (normally $124.00), and $89.00 for a two-year iPad warranty (normally $119.00). There are two deductible options for the iPad warranty, and plans can be for two or three years.

Their warranties cover a user from drops, spills and other accidents, which are responsible for 90% of all device fail-ures. They also cover normal hardware malfunctions. You can read the full warranty details for iPhones and iPads.

They also have a super helpful customer support team that can be called at any time at 877-WARRANTY (877-927-7268).

An interesting difference between the AppleCare and SquareTrade warranties involves jailbroken devices (The

term “jailbroken” can be used to refer to iPods and other devices that have been modified to let the user install appli-cations that are not released through Apple®’s “App Store). Apple voids their AppleCare warranty if the iPhone or iPad was ever jailbroken. SquareTrade's warranty covers jail-broken iOS devices. However, if a claim is made, you will be required to restore the factory software settings if the problem is something that could be caused by the jailbreak.

It's easy to file a claim online or over the phone, and it takes less than two minutes. In most cases, you have the option to send in your broken device for repair or you can take your device to your local Genius bar or repair shop, and they will reimburse you the cost of repair.

If you decide to send it in, you can download a prepaid express shipping label or they'll send you a special pad-ded box ensuring safe transport. They fix most devices and express ship it back to you the same day it is received.

In the case of most iPhones, they'll also give you the op-tion for an "advance exchange" - they will overnight you a replacement phone, and you just ship your broken phone back to them. That way, you don't have to go a day without your iPhone. You just pop out your SIM card and put it in your replacement phone and you're ready to go.

The SquareTrade warranty program covers most any type of electronic device. You should do your own research and decide if a warranty is right for you. As I mentioned above, you can read experiences from thousands of SquareTrade customers on Facebook, the iTunes App Store, or Google Reviews.

Should You Insure that

New Gadget?



http://www.squaretrade.com/


When many large property-casualty insurers restricted their direct appointments with smaller independent agencies in the 1990s, clusters—agencies that joined together to pool their premium volume to attract quality insurance markets—be-came a new phenomenon.Now, two decades later, 80% of more than 2,500 agencies surveyed for the latest Agency Universe Study reported using market access providers to place some commercial and personal lines business.

Agencies Expand Use of Market Access Providers

More agencies are now pooling their resources for benefits beyond carrier relationships.

Market access providers call themselves aggregators, networks and franchisors, and some have grown into giant enterprises, posting hundreds of millions of dollars in com-bined written premiums.

But many of their member agencies have direct appoint-ments with major carriers. Some of these agency principals say they did not join these entities as a means of accessing additional markets, but rather, they’re leveraging them as a way to grow agency profits.

Among them is John Wheeler, owner of The Wheeler Agency in Lake City, Fla., which joined a network five years ago. Wheeler, whose agency has been in business for 43 years, says his firm has “good markets” on its own, but his network’s compensation contract with carriers is better than what the agency could have negotiated alone.

“That first year since joining, we got an immediate bump in our profits, and it’s been the same thing since,” he adds.Beyond the potential for bigger profits, agents tout other reasons why joining their peers in such organizations is valuable: sharing best practices, improving agency perpet-uation possibilities, tapping risk management and under-writing expertise, and accessing wide-ranging, value-added services from accounting to public relations assistance that smaller agencies would have difficulty paying for on their own.

“Providing markets is only part of what we do—we are a multipartnering concept,” says Jim Masiello, chairman and CEO of network SIAA.

Aubie Knight, CEO of the Independent Insurance Agents of Georgia, agrees that market access is only one of several membership attractions. In Georgia, he estimates nearly 30% of IIAG members are involved with a market access provider.

“Most agencies that we see joining aggregators are not necessarily doing so in order to access markets,” Knight

Agencies are increasingly using market access providers, according to the 2012 Agency Universe Study, which based the above data on 2011 operating results reported by more than 2,500 agencies.



says. “They’re doing it to aggregate volume to enhance commissions and profit-sharing.” The benefits of membership come with risks, including a steep financial penalty for ending a contract with a provider. Still, some agents maintain that the potential downsides are well worth the upsides.

“You lose a little control,” says Steve Horton, president of Steve Horton Insurance Agency in Longview, Texas. “There is a portion of your commission they take, but to be honest, the market access more than makes up for this.”

Horton also cites risks from other aggregator members.“I’m in a part of East Texas that isn’t prone to hurricanes and flooding but other members are vulnerable, and the carriers can get a bit antsy,” he says. “So far, this hasn’t yet been a problem, but it [could become one].”

Another agent who uses a network, Mary Pursell, says she’s concerned about a potential loss of personal contact with carriers.

“I was a bit worried that my company relationships were jeopardized,” says Pursell, president of Abbate Insurance Associates, Inc. in New Haven, Conn. “I had heard that if you join an aggregator you no longer have the direct rela-tionship—they do.”

“I also didn’t want my staff or fellow agency principals to perceive that my agency was having trouble getting direct appointments or was weak,” she adds. “And, of course, I was concerned that the provider would take a percentage of my commissions.”

But as it turns out, none of these issues reared into a full-blown problem.

“The profits I’ve pulled in over the past two years have more than offset the monies paid,” she says.

It is also the latest in an occasional series on independent agency channel trends identified in the Agency Universe Study, which was released in October 2012. Read an over-view of the study’s top 10 findings and how agencies are marketing to sell to diverse prospects.

Russ Banham is an IA senior contributing writer.This story is an excerpt of the Independent Agent maga-zine article, “More than Market Access.” Read the full story in the January IA print edition.

It is also the latest in an occasional series on independent agency channel trends identified in the Agency Universe Study, which was released in October 2012. Read an over-view of the study’s top 10 findings and how agencies are marketing to sell to diverse prospects.

Do you and your staff want to increase your technical expertise and customer service skills? Earn the ACSR personal, commercial or life/health designations through The Institutes.

Why ACSR?

No annual duesNo reaccreditation or mandatory update to maintain designation.More concentrated study in your area - personal, commercial, or life and health.Recognition by NAIW towards CPIW designation

Click here for more information.

ACSR's are better prepared with: - Increased product knowledge - Improved selling and account rounding skills - Enhanced productivity and confidence - Higher levels of professionalism and customer service

Choose the ACSR designation that's right for you (only 5-6 courses): Personal Lines - Mod. 1 - Homeowners - Mod. 2 - Personal Automotive - Mod. 3 - Personal Lines Related Coverage - Mod. 4 - Agency E&O - Mod. 5 - Professional Development Commercial Lines - Mod. 6 - Commercial Property - Mod. 7 - Commercial Liability - Mod. 8 - Commercial Automobile - Mod. 9 - Commercial Lines Related Coverages - Mod. 4 - Agency E&O - Mod. 5 - Professional Development Life & Health - Mod. 10 - Life Insurance - Mod. 11 - Retirement Planning - Mod. 12 - Disability and Health Insurance - Mod. 4 - Agency E&O - Mod. 5 - Professional Development



http://www.independentagent.com/Resources/Research/AgencyUniverseStudy/agency-universe.aspx

http://www.independentagent.com/Resources/Research/AgencyUniverseStudy/agency-universe.aspx

http://www.iamagazine.com/NewsViews/2012/October_18/P-C-Trends.aspx

http://www.iamagazine.com/NewsViews/2012/November_29/P-C-Trends.aspx

http://www.iiaba.net/NM/03_Education/05_DesignationCertification/NAV_EDUDesignationCertification?ContentPreference=NM&ActiveState=NM&ActiveTab=NA&ContentLevel1=EDUCTN&ContentLevel2=EDUCERTPROG




Social media has shifted control to consumers. Not only do they have much greater influence over brand messaging,

they demand respect and quick feedback. In short, they expect a “conversation.” This requires monitoring on your part to understand what’s being said about your brand by others—because someone is talking about you. It also means you need to plan ahead.Social media should be as strategically planned as formal advertising or public relations. It should never be a fly-by-the-seat-of-your-pants or a I’ll-get-to-it-when-I-can kind of activity. These online conversations are happening with many eavesdroppers. You have a free audience, so make it count.Your potential buyers are consistently making reference checks even before your first meeting. They’re looking at online reviews of your reputation. Trovus.co.uk reports 83% of B2B or professional services buyers research online before making a purchase decision. And where do people look for information about a com-pany, brand or product? According to Marketo’s Definitive Guide to B2B Social Media, fully 70% visit social media sites, compared to 68% visiting company websites, 57% checking online news and 49% going to review sites.It’s also important to remember that the Internet is like a spider web—one bit of information leads to another. Hubspot found that companies that blog have 55% more website visitors than those that don’t, and B2B companies that blog get 67% more leads. Companies that use Twitter? They get an average of two times more leads per month than those that don’t. Equally important to participating in online conversations is understanding how to participate. Many companies, includ-ing Project CAP, have created a social media usage policy, outlining expectations for employee use of social media both at work and on personal accounts. Far fewer have outlined a social media engagement policy, which identifies who is authorized to represent the com-pany online in an official capacity, who needs to be noti-fied when negative comments appear and how all replies should be handled. Don’t leave it to chance.

Any engagement policy should:

• Identify one key individual to handle all replies and a back-up person when needed. Ideally, this person should control other marketing messages and outlets as well. If not, your online “responder” should receive marketing supervision.

• Clarify brand voice. In other words, replies should be consistent and within your brand character.

• Outline reply-time expectations. How much time is acceptable between comment and response? Is there a different expectation for positive versus negative customer remarks?

Regardless of the details of your engagement policy, this is the number one rule for every brand: Be sincere. Yes, you’re interacting through a piece of technology, but there is a real person on the other end who has taken the time to reach out to your brand. They are looking to establish a connection. Reach back. If they’re unhappy, make things right. If they’re complimentary, take the time to thank them. Handle each interaction as if it was occurring face-to-face, and you may find you have a real fan—or friend—for life.

Project CAP provides digital marketing tools an d services to help independent agencies, brokers and carriers build their online brands and visibility. It was created through an alliance of the Big “I” and state affiliates, Trusted Choice® and insurance carriers to expand the independent agent's share of the personal lines.

Why Your Agency Needs a Social Media Policy

Discover how a policy on social media usage and engagement can benefit your agency.

by Robert Allan Paul, VP of marketing for Project CAP



https://projectcapmarketing.com/


A sentiment is conveyed by the modern version of an 18th century expression: “You can put lipstick on a pig, but

it’s still a pig.” And like putting lipstick on a pig, many agen-cy owners try to make producers out of employees simply by giving them the title “producer”. Even if these employ-ees are not producing, they are given the title “producer” –– and voila! they are magically producers!

Once that title has been bestowed, agency owners will often go to great lengths to rationalize their producers’ lack of success. In some agencies, the rationalization is so obvious it reminds me of Garrison Keillor’s Lake Wobegon sign-off where all the children are above average (which is an obvi-ous impossibility). It’s as if once the title is given, the owners have to convince themselves their producers are success-ful. Agency owners will rely on conversations they’ve had with people who know nothing about the situation and they will use the wrong benchmarks to prove their producers are above average. If the situation is really bad, they start giving their producers call-in and walk-in business. Then they give their producers business their customer service representa-tives (CSRs) can handle on their own. Then they give them house business. Then they give them personal lines books.

When agency owners start giving their producers the CSRs’ business, they’ll often rationalize it as, “It’ll free up

time for the CSRs.” For what? To service more new busi-ness the producers are not producing? When agency own-ers start giving them their own business, they’ll rationalize it as, “It’ll free up more of my time.” To do what? Rarely have I seen 55-65 year old agency owners give away chunks of their book and then replace it with all new sales. It happens, but rarely. Or another rationalization is, “They just need more experience working with clients.” What have they been doing the last 10 years?

I’ve also found it interesting how many of these same agency owners want their agencies valued high, like a high performance agency. But high performance agencies have producers who can sell. Rather than hiding behind a false title, doesn’t it make more sense to manage people bet-ter? Doesn’t it make more sense to give people appropri-ate titles? This means giving the title “producer” ONLY to people who do produce.

A problem with a generic title is it carries expectations and cost. No agency is going to achieve true success until the owners recognize and accept reality. If their producers cannot produce, they should not be producers. Even if the agency cannot find anyone who can produce, very often the better solution is to leave the position open. A huge number of agency owners though will never accept real-ity, so the opportunities for those who do get this point are great. For those willing to try, a good place to begin is by recognizing and accepting that not all producers are cre-ated equal, and the differences are great, not small.

Next, recognize and accept that people with very different talents and skill sets should have different titles and pay scales. Let’s get past political correctness and deal with re-ality. Just because that’s the way it has always been is not a legitimate reason for not changing things going forward. The fact that producers may be paid commission rather than salary is no excuse either because it ignores the fol-lowing realities:

1. Many producers, especially poor producers, are paid a salary whether the agency calls it that or not.

“What’s in a name? That which we call a rose by any other name would smell as sweet.” ~William Shakespeare

What’s in a NAME?

By Chris Burand

Title Your Employees Appropriately


Page 18 Independent Insurance Agents of New Mexico - www.iianm.org - * February 2013 Independent Insurance Agents of New Mexico - www. iianm.org - * February 2013 Page 19

2. Many producers, especially poor producers, are given business upon which they earn commissions.

3. Agencies have de facto fixed costs to cover and produc-ers have to generate enough of their own sales to cover those costs.

A first string quarterback makes more than a second string quarterback. This fact does not mean the backup quarter-back is not important, just not as important. So why pay producers as if they all have the same importance to the agency? Why give a $100,000 producer the same title as a $1,000,000 producer? Why give them the same perks? Are you afraid of hurting their egos? How much is this worth to you?

The agencies that get this are doing much better in this economy than those that do not. The agency owners that understand this reality have historically saved enough mon-ey (by not wasting it on producers who cannot produce) so they can afford to continue to hire people who can produce. Their morale is higher because everyone in the agency is contributing and their higher morale contrib-utes further to their success. Even when a producer who cannot produce tries hard to produce, morale is still injured because every-one sees the person is in the wrong position. This employee can only come into work with a great attitude for so long.

This does not mean a producer who can’t produce is not valuable as a servicing pro-ducer or account manager. (Do not let any biases cause you to make the wrong deci-sion just because the “producer” is male.) An agency can be successful with just servicing producers, but the model and cost structure must change.

Agency owners that get this have defined clearly what a producer is in their agencies. They do not give the same title to employees based on what they should do, but based on what they actually achieve. To me, a produc-er produces at least $300,000 of his or her own commissions. It is inappropriate to call an experienced person who produces less than this a producer. Such a distinction pays huge dividends, including the ability to attract better people to the agency. Who wants to go to work at an agency where the future is lim-

ited because the producers can’t produce? It is so much more fun to work on a winning team.

Title your people with appropriate titles. Don’t let wishful thinking get in the way. Manage reality and success will follow.

Chris Burand is president of Burand & Associates, LLC, an insurance agency consulting firm. Readers may contact Chris at (719) 485-3868 or by e-mail at [email protected].

NOTE: None of the materials in this article should be construed as offering legal advice, and the specific advice of legal counsel is recom-mended before acting on any matter discussed in this article. Regulated individuals/entities should also ensure that they comply with all appli-cable laws, rules, and regulations.





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One of the most common questions received by the Big “I” Virtual University’s Ask an Expert service is how to provide “cross-liability” coverage under commercial general liability. The question typically arises from a certificate request for the coverage or, more often, a request to remove a cross-liability exclusion.

The term “cross liability” deals with whether or not one insured can sue another under a liability policy. The bad news is that, under the ISO program, there is no endorse-ment to provide cross-liability coverage. The good news is that there’s no endorsement because none is needed; it’s included in the CGL policy itself and has been since 1986:

7. Separation Of InsuredsExcept with respect to the Limits of Insurance, and any rights or duties specifically assigned in this Coverage Part to the first Named Insured, this insurance applies:

a. As if each Named Insured were the only Named Insured; and

b. Separately to each insured against whom claim is made or “suit” is brought.

Why people still ask for a “cross-liability” endorsement to remove a nonexistent exclusion (unless they want to limit such suits) is a mystery. In fact, some states may have a

VU Faculty

Virtual University’s Ask an Expert

Can One CGL Insured Sue

Another One?Agents are often asked to provide cross-liability coverage. But does it exist?

statutory provision prohibiting the use of cross-suit exclu-sions in most basic liability policies. Most likely, you’re dealing with attorneys or consultants who either aren’t up on things or don’t know what they’re asking for—they’re just looking at an outdated “cheat sheet” that says they should ask for this.

Ask an Expert is a Big “I” Members Only resource.

Members using the Big “I” University sometimes need answers to questions that they can’t find in the Research Library, Classrooms or Student Lounge. In such instances, we have a volunteer faculty of experts who can usually answer, or find an answer, to your questions.

If you are a Big “I” Member, Ask Your Question Now!

by Bill Wilson,VU Director

If you need help with your log-in information, email [email protected].

http://www.independentagent.com/Education/VU/AskanExpert/default.aspx


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By the time you read this we’re more than a month into 2013, one twelfth of the year is already gone. How’s it

going so far? How are you doing with your New Year’s Resolutions if you made any? Are you on track to achieve your personal and professional goals this year? If you’re not on track, these ideas will get you on track and caught up. If you are on track, these ideas can help you achieve your goals even faster and go even further.

Five Keys to a Highly Successful 2013 1) Why do you want to have your best year ever?

Before you take on any endeavor, you have to know why you’re doing it. This one factor will determine whether or not you are successful. What are you capable of if you set your mind to it? Pretty much anything, right? So in order to wake up every day driven and motivated to do what must be done in order to achieve your goals and dreams, you must have powerful reasons for doing so. Find your WHY in positive reasons for achieving your goals and negative consequences if you don’t. The start of all great achieve-ment is a burning desire in your heart and soul that simply must be fulfilled. 2) Have goals and a plan.

You’ve heard it a million times but this is still the biggest factor that the most successful people on the planet at-tribute their success to, so, if you haven’t done this yet, DO IT! The top 3% of people on the planet have goals, a plan for their achievement, and they work on those goals every

day. They are worth more in financial terms than the other 97% combined. You don’t need a huge list of goals in each area of life with elaborate plans for their achievement, in fact, the simpler you can make it, the better. At a minimum, pick one major professional goal and one major personal goal, put a simple, straight-forward plan together, and take action on both goals daily. 3) Do what you must do.

Now that you know why you want to have your best year ever and you have goals and a plan, it’s time to get to work. Not tomorrow, not later today… NOW! The most successful people are people of action. They don’t put things off and they rarely hesitate once they have decided upon a goal. You must work on your goals every day whether you feel like it or not. You must work on your goals when you’re tired, sick, and beaten down. Should you rest occasion-ally? Yes. Should you take a vacation and have balance in your life? Yes. But assuming you have the burning desire necessary to achieve your goals and dreams, you will pick yourself up in the most tiring and difficult times and press on. Anything worth acquiring in life usually requires that we work hard, get uncomfortable, and face some fears. Also, contrary to popular belief, WILL POWER DOES WORK. It’s simple, you’re either going to eat that donut or you’re not based upon a simple decision that your parents, the economy, or your relationships have nothing to do with. Speaking of that, I give you point #4… 4) Stop making excuses and giving up control of your life.

Over the years I’ve heard every excuse as to why people don’t achieve their goals. I’ve heard reasons related to health, emotions, past traumas and negative events.

How to Have Your Best Year Ever

by John Chapin



People blame the economy, other people, and bad breaks growing up. I have two words of advice: Stop it! Assuming you are reading this right now and comprehend it, you have no excuses. Once you hit the age of 25 you are responsible for where you are in life. While a 13 year old can blame his or her parents, and a couple other outside factors for their present position in life, anyone 25 or older can go no further than the mirror. The faster you “get” that you determine your outcome, not the economy, your parents, or your boss, the quicker you will grab control of your life and live it on your terms. If you continue to blame others and outside circum-stances, you will be a victim and the things you don’t want will continue to show up. You are responsible, you are in control, and you decide where you end up. 5) Follow Winston Churchill’s advice.

You remember his advice, right? “Never, never, never give up.” Another saying is, “Quitters never win and winners never quit.” If you hang in there long enough, you’ll make it. Life is simply a game of deciding what you want, develop-ing a plan to get it, taking daily action on that plan, seeing what works and what doesn’t, and adjusting your approach until you get to your destination. You can do, be, and have anything you want, but it’s going to take hard work and sacrifice. The question isn’t can you have your best year ever, the questions are: Are you willing to put in the time, effort, energy and money that’s neces-sary? Are you willing to give up the excuses and other crutches and pay the price for success?

For access to John's free monthly newsletter and white paper on what it takes to be successful in sales, visit John's website at http://www.completeselling.com/

Have a sales question? E-mail John at [email protected] John Chapin’s specialty is helping salespeople and sales teams double sales in 12 months. He is an award-winning sales speaker, trainer and coach, a number one sales rep in three industries, and the primary author of the gold-medal winning "Sales Encyclopedia". In his 24+ years of sales, customer service and management experience, he has thrived in some of the toughest markets and economies.

John ChapinComplete Selling, Inc.Helping you find and get all the business you wantCell: 508-243-7359johnchapin@completeselling.comwww.completeselling.com

Big “I” Young AgentsThe future of the

independent agency system

YAC Chat WebinarsWe have a welcoming and educational

environment for young agents entering the insurance industry. The national Young

Agents Committee is offering a series of free webinars presented by award-winning young agent committees from all across the states.

February 14 - 11am MT: Outstanding Political Involvement, The Emerging Leaders of the Insurance Brokers & Agents of California

March 14 - 11am MT: Outstanding Membership Development, The Young Agents Committee of the Independent Insurance Agents of Indiana, Inc.

April 11 - 11am MT: Outstanding Communications: Young Agents Committee of the Independent Insurance Agents of North Carolina

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Liberty Mutual, one of the largest insurance companies in the country, plans to phase out its re-gional brands this year, including Peerless Insurance in the Northeast, so it can focus on using the Liberty Mutual brand nationwide.

In addition to Peerless, the Boston insurance giant is also eliminating the following brands: America First Insurance, Colorado Casualty, Golden Eagle Insurance, Indiana Insurance, Liberty Northwest,

Montgomery Insurance, and Ohio Casualty. All of the units sell commercial insurance through independent agents.

"The decision was influenced by agents' desire to align their business with the stronger, more recognizable Liberty Mutual brand," said Liberty Mutual spokesman Glenn Greenberg.

Liberty Mutual was the second largest property and casualty insurance in the country in 2011 - trailing only State Farm -- according to the most recent data from the Insurance Information Institute. It is best known to consumers for its auto and home insurance, though it also offers a variety of other products.

Health Exchange Plan Could Land in Court

by Gary GerewAssistant Editor- Albuquerque Business First

Democratic legislators in the House and Senate have their own plan for implementing a health insurance exchange that could lead to a challenge for Gov. Susana Martinez.

The Democratic-controlled Legislature and Republican Gov. Su-sana Martinez could be headed to a debate over the administra-tion’s plan to implement a state-run health insurance exchange.

At issue is whether state law must be changed for the exchange, according to the Santa Fe New Mexican. Under federal law, the exchange must be ready to enroll people starting in October and be fully operating by next January.

The governor says no legislation is needed to create the exchange. It’s moving to have the exchange operated by the New Mexico Health Insurance Alliance.

But Democratic legislators in the House and Senate have their own plan for implementing an exchange. Their proposal will revamp the alliance’s governing board to add more consumer representation, the New Mexican reports.“We have serious reservations not just about the legal basis of an executive moving without legislative involvement, but also about the substantive content of what’s in her exchange,” Sen. Gerald Ortiz y Pino of Albuquerque, chairman of the Senate Public Affairs Committee, told the New Mexican.

The dispute could end up in court, and the governor’s chief of staff, Keith Gardner, said that could cause New Mexico to miss the deadline for implementing the exchange. The federal government could be forced to step in and run the ex-change if the state’s plan is tied up in a legal fight, Gardner said, according to the New Mexican report.



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Industry combined ratios for the first nine months of 2012 could now be tarnished with possibly 5 percentage points from Sandy’s losses—which would take the industry back to results of 2011, the fifth-costliest year for insured disaster losses

when adjusted for inflation. (Figures for the entire 2012 year were unavailable as of press time because insurers have yet to release fourth-quarter results.)

So what could this mean for insurance pricing this year? Similar to 2012, 2013 may be another year of 4%-5% rate in-creases in commercial lines.

Could 2012’s combined ratio match that of catastrophe-ridden 2011?

On an accident year basis, 2011’s 109.5% combined ratio could now be equaled in 2012, according to Big I Advantage® consultant ALIRT Insurance Research, which used figures from its property-casualty industry composite that includes 50 U.S. personal and commercial lines writers. With insured loss estimates of $10-$25 billion—excluding federal reinsured flood losses—Superstorm Sandy could add upwards of 5.4% to the industry combined ratio for 2012. When 5.4% is added to 104.2%, the accident year combined ratio for the first nine months of 2012, the result is approximately that of 2011 at 109.5%.

The chart below shows annual industry combined ratios dating back to 2006, according to ALIRT. Data is on an accident year basis, which means each ratio excludes the impact on underwriting earnings of prior year reserve additions or releases.

“Accident year results are an expression of the near-term profitability of business written in a current year period as they remove the impact of prior year reserve additions or releases from the equation,” ALIRT principal David Paul says. “They are especially useful for gauging the impact of catastrophe losses on any accident year.”

Will Rates Continue to Firm in 2013?Superstorm Sandy’s losses could raise the industry’s 2012 combined ratio to that of 2011.

Insurers started the first nine months of 2012 with fewer insured catastrophe losses than those of the same period in 2011. But in late October 2012, Superstorm Sandy rolled ashore in the

Northeast, ruining what had been a decent underwriting year.

If high-end estimates for Sandy’s losses are added to the 2012 accident-year com-bined ratio for nine months, 2012’s results are similar to those of 2011. *2012 is esti-mated based on nine-month results for the composite, plus 5.4% for potential impact of an estimated $25 billion in Superstorm Sandy losses on the entire P&C industry with net-earned premiums of approximately $465 billion in 2012. Source: ALIRT Insurance Research, LLC, based on its p-c composite comprised of 50 large U.S. P&C insur-ers, representing about 53% of total industry net written premium.

by Paul Buse, President of Big I Advantage®



“Of course, if you add back the favorable impact of prior year reserve releases (currently around 4 percentage points), that helps reported profitability, but insurer CEOs know that, long-term, counting on prior year reserve overestimates is not always a sound pricing strategy, as such redundancies can peter out or even turn into reserve deficiencies that end up damaging earnings in future years,” Paul says.

He calls Sandy “a game changer for 2012,” adding he expects the storm’s industry insured losses to be on the high end of the catastrophe modelers’ estimated $15-$25 billion range.

IN&V examined reported losses from Sandy, and after adjusting insurer’s reported losses from Sandy to a pre-tax basis, estimates already exceed $20 billion.

“Naturally many of the insurer reports are based on estimates and they could be off,” Paul says. “But when you take the current reports and consider they don’t include all insurers, and then add in average losses per report to several big insur-ers that only reported total claims, you could easily exceed $20 billion in pre-tax losses, net of reinsurance, from Sandy…and those losses will weigh on the 2012 insurer combined ratio.”

The first three quarters of 2012 show average increases in the 4%-5% range, after average price decreases since 2005. Source: ALIRT Insurance Research, LLC.

What could this mean for pricing in 2013?

“Predicting pricing swings is always problematic, given the overall complexity of the U.S. P&C market,” Paul says. “But given what we know today, we could see a second consecutive year of industry combined ratios in the 105%-110% range. And with the industry earning investment income of just around 3.5% on invested assets, these underwriting estimates would translate into not such a great year for the industry.”

“Given such a lackluster financial performance, there’s reason to believe that price firming will continue in 2013,” he adds.




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Looking to fill a position within your agency? Trying to find a job but don’t know where to look?Whether you are looking for somewhere new to share your special skills or an employer looking for quality, professional employees, we are here to lend a helping hand. Click here to take advantage of IIANM’s Job Bank.Do you have an agency you’re trying to sell, or in the market to buy one? Check out our Classifieds!

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Forget About It...

Charlie Kaufman was onto something: It turns out that the surreal memory-erasing procedure in Eternal Sunshine of the Spotless Mind may soon be a reality.

According to an article on Popsci.com, Stanford University researchers have figured out a way to vanquish painful memories while you sleep. There haven't

been any human studies yet (just rats so far), but results are promising and experts say that, with more research, the treatment could be an option for

patients with post-traumatic stress disorder. (No word on when it might be available to treat a broken heart.)

ODDS ENDS&

29 Morning Shortcuts

That Will S

ave You Time

25 clever ideas to make life

easierWhy didn’t I think of that?! We

guarantee you’ll be uttering those words more than once at these ingenious little tips, tricks and

ideas that solve everyday prob-lems … some you never knew

you had!

Miscellaneous items, remnants, or pieces.

Valentines Gifts

- that don’t cost a centThe Gift of Listening - but you must really listen. The Gift of Affection - Be generous with hugs, kisses, pats on the back and hand holdsThe Gift of Laughter - Tickle your kids. Tell jokes with your loved one in bed.The Gift of the Written Note - Leave them everywhere for your loved ones to find! The Gift of a Compliment - Tell your loved one how hand-some or beautiful they are. Tell your kids how awesome they are.The Gift of a Favor - Everyday go out of your way to do something kind.The Gift of a Happy Heart - Give thanks & smile often.

Things to Do on Your Lunchbreak (That Don't Involve Facebook or Lean Cuisine)

• Have a picnic• Hit up your local book store

• Meet up with a friend• Try a new ethnic restaurant

• Take a stroll (snap some pictures)• Go window shopping

• Try every restaurant within walking distance• Go to the public library

• Donate blood• Visit a pet store• Nap in your car



http://www.Popsci.com

http://www.buzzfeed.com/peggy/29-morning-shortcuts-that-will-save-you-time?sub=1948103_829748

http://www.buzzfeed.com/peggy/29-morning-shortcuts-that-will-save-you-time?sub=1948103_829748

http://www.stumbleupon.com/su/2pUNUa/www.thedailybuzz.com.au/2011/11/25-clever-ideas_household-tips_storage-ideas/

http://www.stumbleupon.com/su/2pUNUa/www.thedailybuzz.com.au/2011/11/25-clever-ideas_household-tips_storage-ideas/

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P E R S O N A L I N S U R A N C E

When it comes to placing personal insurance for high-net-worth clients, your success is our success.

Grow your business by partnering with Burns & Wilcox. By working with our Elite Client Solutions team, you do not have to turn away clients: We have the products to cover all their needs. Our high-net-worth specialists have the expertise to create personalized solutions. Plus, our unrivaled access to markets allows us to create solutions with speed and diligence. Making personal insurance even more personal is what Burns & Wilcox does best as the largest independent wholesale broker.

Albuquerque, New Mexico | 505.822.0018 | toll free 866.643.8538fax 505.822.0092 | scottsdale.burnsandwilcox.com

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