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March

Option4.pngMarch 2019 Edition

AGENT NEWS

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We are pleased to announce that Jeff Kleven has joined the association as Executive Director.  Jeff is a native of Grafton, North Dakota. His insurance experience is extensive on both the agency and company side.  From crop insurance adjustor and claims to managing agencies, Jeff's experience will provide a great dimension to his role as the new Executive Director.

Jeff has been married for 36 years and has 3 grown daughters and one grandson. He is a sports enthusiast and enjoyes motorcycling, golfing and hockey. In fact, he was a hockey referree for 20 years. 

Jeff comments on his new role. "As the first full time Executive Director for North Dakota, I am excited for the challenges ahead and looking foward to getting out, meeting with current and prospective ND Big "I" members.  We have so much to offer and I need to make sure agents are getting all they can out of their Big "I" membership."

You can contact Jeff at jeff@iiand.com

Top 25 Insurers (by Premium) for 2018

The National Association of Insurance Commissioners (NAIC) released data that provides property & casualty insurance market share information and identifies the leading insurance writers in several key lines of business. The 2018 market share data includes countrywide direct written premiums for the top 25 groups and companies as reported on the state page of the annual financial statement for insurers that report to the NAIC.

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2019 Forecast Predicts Strong Growth for Independent Agents & Brokers

You have a lot to look forward to in 2019!  Reagan Consultings Organic Growth and Profitability (OGP) survey for the fourth quarter of 2018 shows a convergence of impressive upward trends in each major line of business, Kevin Stipe, president of the firm, said in a press release. OGP participants generated organic growth of 6.1% in 2018, surpassing the projected organic growth rate of 5% for the year. Growth was driven by continued increases in U.S. GDP and commercial pricing. For 2019, OGP participants are forecasting growth of 7%, which would be the highest growth rate since Reagan Consulting began its quarterly OGP survey in 2008.

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Agency Risk Management Essentials Webinar: Commercial Lines - Back to Basics

One of the leading causes of insurance agents errors and omissio E&O claims for agencies like yours are your commercial lines coverage accounts. Through a new recorded webinar, you and your team can get back to basics to avoid common claims. Learn through example about the leading causes of loss, such as recommendation errors, explanation errors, application errors, policy renewal/replacement errors and policy change errors when handling commercial coverage placements. This is a must-see for all of your commercial lines producers and CSRs and IT'S FREE OF CHARGE!

Register Here

IIAND MEMBER BENEFITS

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Active Shooter Insurance Becoming a Risk Management Necessity

In to schools and churches, mass shootings often happen in workplaces. According to recent data reported by the Bureau of Labor and Statistics, homicides accounted for a staggering 10 percent of workplace deaths that occurred in the United States in 2016. Of those 500 workplace homicides, 394 of them nearly 80 percent of the total were caused by shootings. The publication Risk Management indicates that when an attack occurs, the leaders of private companies and government entities alike feel driven to deliver a caring, supportive response to the victims and survivors. At the same time, they are staring down expenses that can spiral into millions of dollars. Are you up to speed on this emerging coverage and how to help your insureds?

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Trump Administration Unveils Higher Threshold to Expand Overtime Pay

Last week, the Department of Labor (DOL) issued a new proposed overtime regulation. The regulation, which had been anticipated since last year, comes after the Obama Administration overtime rule was struck down in a Big I-supported lawsuit. The Big I was the only insurance trade association to join the lawsuit.

The Big I is currently reviewing the new draft, which is more limited in scope than the previous rule. If finalized, the proposal would increase the minimum salary level threshold for overtime exempt employees from $23,660 per year, or $455 per week, to $35,308 per year, or $679 per week. This amount is roughly an inflationary increase. The last time the threshold increased was 2004.

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ADVOCACY

Chris Wallace to Address Big "I"
Members

FOX News Sunday host Chris Wallace will talk with Big I" members during the annual Big I" Legislative Conference, to take place May 8-10 in Washington, DC.

Wallace reported from the ABC News desk as a senior correspondent for Primetime and 20/20, and as an anchor on the longest-running show on television, NBC News' Meet the Press. 

You can participate in the Big "I" Legislative conference, it's a one-of-a-kind legislative Legislative Conference for the independent agency community.

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Crop to be Chopped?

President Donald Trump's budget proposal for 2020 calls for approximately $26 billion in cuts to the crop insurance program over the next 10 years as part of an overall 15% cut tot he U.S. Department of Agriculture.  This budget prospoal is only a starting point for negotiations; these custs are similar to President Trump's proposals for fiscal years 2018 and 2019.

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Big "I" Testifying on the re-authorization of the Flood Program

The Big I testified at a hearing before the U.S. House of Representatives Committee on Financial Services entitled Preparing for The Storm - Reauthorization of The National Flood Insurance Program. Chris Heidrick, CPCU, ANFI, CFP,  principal of Heidrick & Company Insurance and Risk Management Services in Sanibel, Florida and Big I Flood Insurance Task Force chairman, testified on behalf of the association. The Big I was the only insurance group to testify at the hearing and stressed the critical need for a long-term reauthorization as well as modernizing the NFIP and increasing flood insurance take-up rates.

Watch Webcast

 

FEATURED PARTNER

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UPCOMING EVENTS

Watch here for more information on IIAND Events for 2019.

EDUCATION

Street Level Ethics Course

Learn the basic elements of ethical behavior, codes of ethics for insurance professionals as well as our ethical duties to our companies vs. our customers.

3 Hour Live Webcast - No Travel Required!
Approved 3 CE Credits in North Dakota
Register Here

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