A&M
Umbrella Program
Agency Shield
Big 'I' Markets
Excess_Professional_Liability
Fireman's Fund
Flood Program
IIABA
Retirement Programs
Kelsey
RLI Umbrella &
In-Home Business
SwissRe/Westport Errors & Omissions
Virtual_Risk_Consultant
Westport's Umbrella Policy
For 25 years, the Big "I" Professional Liability Program underwritten by Westport Insurance Corporation, a member of the Swiss Re Group (rated A Excellent by A.M. Best), has been the premiere choice of IIABA member agents for insurance agents and brokers E&O insurance.
The Big “I” Professional Liability Program offers not just a policy, but a comprehensive program for insurance agents. Over the past two decades the Big “I” Professional Liability Program, underwritten by Westport Insurance Corporation, a member of the Swiss Re Group, has grown into the largest and most stable insurance agents E&O program in the nation. Our member agents and brokers nationwide look to the program for stable rates and a long-term market that they can rely on to protect their greatest assets—their businesses.
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Coverage Highlights:
Coverage Benefits:
Insurance Agents & Brokers
Professional Liability Application |
Application:
To apply for coverage, complete the
Insurance Agents and Brokers Professional Liability application and forward it
to Carla Short at iiamcarla@aol.com. The application forms are in an Adobe Acrobat Portable
Document Format (PDF) to give your application a professional and clean
appearance. Viewing and completing the forms requires the free Adobe Reader
program which can be downloaded from www.adobe.com.
IMPORTANT NOTE: Unless you have Adobe Acrobat software, you will not be able to save the completed application. When completed immediately print a copy and fax the application to Carla Short at iiamcarla@aol.com.
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Fireman's Fund: An Additional E&O Market
With more than 25 years of experience, Fireman’s Fund is an industry leader in providing liability coverage for agents and brokers against errors and omissions. Fireman’s Fund Insurance Company is rated A Excellent by A.M. Best. This additional E&O market is available nationwide.
Coverage Highlights:
With over 25 years experience, Firemen’s Fund is a dedicated, experienced insurer of Insurance Agents’ needs – yesterday, today and tomorrow.
Coverage Highlights
| A rated carrier written on admitted paper |
| Dedicated claims staff focuses exclusively on insurance E&O claims |
| Long-standing market player in Agents E&O |
| Coverage for the sale of both P&C and L&H |
| Choice of three endorsements for sale of Financial Services Products |
| Broad definition of covered professional services and activities |
| Available first dollar defense |
| Policy limits available up to $10,000,000 |
| Aggregate deductible applies |
| Expert witness testimony covered |
| Protection when you train, manage or supervise a client in the selling of insurance products |
| Market-quality Insolvency coverage |
| Broad definition of “who is an insured” |
| Retroactive coverage and multiple extended reporting periods offered |
| Three-tiered Employment Practices Liability offered by endorsement |
| $10,000/$30,000 catastrophe claims extra expense included with no additional premium |
| $35,000 regulatory investigation defense expense coverage per policy |
| Up to 60 days after end of policy period to report claims and purchase extended reporting |
| Immediate predecessor firm coverage |
| Supplementary Payments of $500 per day for expenses incurred in aiding in the defense of a claim |
The Fireman’s Fund policy offers broad coverage tailored to insurance agencies.
Sample Policy Form:
Application:
To apply for coverage, complete the Fireman’s Fund Insurance Company Independent Insurance Agents application electronically and email it to the appropriate state association contact, who will contact you once it is received. This application is a pdf form that MUST be completed by typing the information directly into the form, saved locally, then after completion digitally signed and sent via email to the state association contact. Viewing and completing the form requires the free Adobe Reader program which can be downloaded from www.adobe.com. If you have any questions completing this pdf form, please contact your state association.
Fireman’s Fund Insurance Company Independent Insurance Agents Application
RISK MANAGEMENT WEB SITE
Big “I” members whose agency E&O insurance is written by Swiss Re through the
Big “I” Professional Liability Program have access to an exclusive risk
management web site.
Log on today to fish for E&O claims frequency data, real-life case studies and
analysis, sample client letters, sample agency procedures, agency E&O self
assessments, podcasts on important E&O topics, and much more.
IT’S FINALLY HERE!
Due to overwhelming requests from the Big “I” membership, Swiss
Re, in collaboration with the Big “I” Professional Liability programn introduced an
Agency E&O umbrella policy. This product is intended to provide catastrophic
protection and is exclusively available to Big “I”
members.
Like most other umbrella policies, this provides limits in excess of underlying
general liability, automobile liability, employers liability and other liability
policies. But unlike most umbrella contracts it will
ALSO provide following form coverage over primary claims made
insurance agents errors and omissions policies. Coverage can be written over
most admitted and some non-admitted underlying carriers – including E&O policies
written by carriers other than Swiss Re!
New umbrella coverage from a name you know
• Coverage is underwritten by Westport Insurance Corporation, a member of the
Swiss Re group (A+XV), one of the leading reinsurance companies in the world
• Admitted in 50 states and the District of Columbia
• The leading writer of insurance agents professional liability in the United
States
• A+ rating by A.M. Best
• Limits up to $10 million are available!
Getting started – information needed for a quote
The information we need will depend on which carrier
writes your primary insurance agents E&O:
• If Westport writes your insurance agents E&O,
please complete the application here!
• Westport’s Primary E&O application
• Send copies of all non-Westport primary declarations (schedule of forms and
any manuscript endorsements)
If another carrier writes your insurance agents E&O, please send:
• Primary E&O Application
• All Primary Policy Dec Pages including list of forms
• Copy of Primary E&O Policy
• Westport Umbrella Application here
• Westport Umbrella Application
Supplement
For information on minimum underlying requirements, what primary E&O carriers
are acceptable or other underwriting questions, contact Carla at 410-766-0600 or
email her at iiamcarla@aol.com
Access to exclusive products such as the Swiss Re’s Insurance Agents Umbrella
policy is just one of the many benefits of being a Big “I” member.
Coverage is provided by First Specialty Insurance
Corporation, A SwissRe company, rated A+, XV
Maximum Capacity $10,000,000...cannot be greater than your underlying policies
Can be written over your underlying E&O (Underlying must be with an approved carrier, which includes Utica Mutual, Fireman's Fund, Safeco, Darwin, Indian Harbor, Great American, National Union, CNA and Liberty)
Required:
Completed application - link below
Form Numbers of Policy forms and Endorsements of all primary policies
Limits, deductibles, premiums of all underlying policies
Five year loss runs
EXCESS PROFESSIONAL
LIABILITY APPLICATION
Contact:
Carla Short at iiamcarla@aol.com
Swiss Re’s Commercial Insurance (underwritten by Westport Insurance), working with the Big "I", has developed an insurance agency E&O claims prevention consulting program, called the Agency Shield Program (ASP™), which is available exclusively for Swiss Re policyholders. Distributed through your local Big "I" association it is designed to be an affordable and easy to implement tool to reduce E&O exposure, improve client service and build sustainable, profitable processes. Policyholders that complete the Agency Shield Program™ will receive a 10% E&O premium credit good for three years on their next renewal.
The program starts with a simple, yet comprehensive online survey about your agency's processes and current risk exposures. After completion, the ASP™ coordinators at Swiss Re will assess your survey and develop a detailed action plan that identifies areas of improvement in your current workflow procedures. The action plan includes a series of easy to implement steps and recommendations for reducing E&O exposure, strategies to ensure high-quality client service, and counsel on ensuring compliance.
The goal of ASP™ is to help your agency establish a standardized process that makes your procedures focused and efficient throughout your agency, ultimately leading to better productivity, increased profits, and reduced E&O exposure.
Here's how it works -
| Your agency selects a person within your office to be the Agency Shield Program™ champion. He/she will be the primary contact for the program and will be responsible for making sure all activities have been completed. |
| Based on the information within your registration application, the ASP™ survey will be customized according to your business profile. The survey asks questions about your agency's policies and procedures relative to automation, documentation, processes and workflows; claims, audits, training and education, licensing and administration and human resources. |
| The agency champion oversees the completion of the ASP™ survey, and once finished, returns it to the ASP™ accreditation center at Swiss Re. |
| The survey responses are compared with best practices of agencies of similar sizes and operations. Differences are outlined in a project tracking sheet that contains recommendations on better ways to manage a particular activity. |
| The ASP™ Coordinator at Swiss Re keeps tabs on your progress and is there to assist you with any questions or roadblocks you run into. We recognize that you have an agency to run so these activities are designed to be completed while continuing to handle your daily business. All activities can be delegated as appropriate and do not need to be completed in their entirety by the agency champion. |
Program Features
| Detailed and systematic review of agency operations |
| Focuses on reduction of E&O exposures |
| Helps agencies avoid the direct and indirect costs associated with having an E&O claim, such as deductibles, loss of credits, loss of productivity and stress of being involved in a claim |
| Assists you in establishing standards across all agency activities |
| Helps to develop benchmark processes for new hires |
| Template for training your staff in the important area of customer service and potential agent liability |
| Potential for a 10% premium credit good for three years to participating agencies who complete ASP™* |
* Subject to State Department of Insurance approval
HOW TO PURCHASE
To purchase the Agency Shield Program, contact Carla Short at 410-766-0600 or by
email at iiamcarla@aol.com.
The Big I Advantage® Virtual Risk Consultant powered by Rough Notes ("VRC") is an online sales and service resource designed to help your agency better serve your customers. Using this tool will lead to increased sales by improving your staff’s knowledge of a prospect’s operation enabling them to better identify and cover customer exposures. The VRC will help your staff better understand the product they sell. It will also assist agency staff with preparing proposals, explaining complicated insurance terms, and most importantly documenting client files. It is truly a tool that will increase the professionalism of staff and help your agency grow while limiting your exposure to E&O claims.
Big "I" members have exclusive access to Big I Advantage® Virtual Risk Consultant. Similar products sell for thousands of dollars. Big "I" members enjoy a deeply discounted rate:
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Agency Size (per state) |
Annual Subscription Price |
Four-Year Subscription Price |
|
Up to 15 users per agency |
$250 |
$750 |
|
More than 15 users per agency |
$500 |
$1,500 |
To see the VRC in action, click here to experience a limited demo.
Claims data for the Big “I” Professional Liability Program reveals that about 40% of claims involve the agent failing to procure coverage and failing to adequately identify exposures. The Commercial and Personal Line Risk Analysis System on the VRC assists producers and CSR’s. How?
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By helping them understand the exposure of businesses in more than 650 different industries, including recommended minimum coverages. |
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By allowing them to create and print comprehensive questionnaires to collect the information necessary to complete ACORD applications. |
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By providing them a comprehensive list of coverages with succinct definitions to enhance understanding at the point of sale. |
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By offering important customer file documentation in the form of a comprehensive checklist of coverages offered, accepted, rejected or not applicable which is signed by the customer and stored in the file. |
Features include these and much more:
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Commercial Lines Risk Exposure Evaluation System
Personal Lines Risk Exposure Evaluation System
Policy Forms & Manual Analysis (PF&M)
Coverages Applicable
Insurance Marketplace
Insurance Marketplace Cybercast
ACORDTM Forms Library
Insurance Words & Their Meanings
Business Building Letters
e-marketing for Agencies
|
RLI:
STAND ALONE PERSONAL UMBRELLA:
|
Covers the insured and all relatives living with the insured |
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Operations of most motor vehicles including cars, RV's, motorcycles, motor homes, pickup trucks and most watercraft |
|
Incidents involving any property covered by the insured's basic homeowners policy |
WHAT DO YOU NEED TO DO TO GET STARTED SELLING RLI?
Contact IIAM about starting today! 410-766-0600 or email Carla at iiamcarla@aol.com.
To sell both the RLI Umbrella and RLI In-Home Business policy, a producer
application must be completed for both RLI and IBSC. Download the agreements below and submit
to Carla Short at IIAM's office.
RLI Producer Agreement
IBSC Sub-Producer Agreement
Note: To sell both the RLI Umbrella and
the RLI In-Home Business policy, a producer application &
IBSC Sub-Producer agreement must be completed.
RLI's Personal Umbrella Application (New
Business)
Effective
for all new business 1-1-2012
Power Point
Explaining 2010 Changes
Cover Letter to Insured for 2010
Policy Changes Eff. 7-1-2010
RLI's Personal Umbrella Rates (PUP)Effective
2-1-2011
Specimen PolicyEffective
7-1-2010
Rate an RLI Umbrella
RLI's Marketing Material (PUP)
(Can be
personalized w/agency information)
RLI's PUP-Cancellation Procedures
Don't Forget
Umbrella Renewals should be
mailed, effective May 15, 2007 to:
RLI Insurance Company
P.O. Box 4726
Carol Stream, IL 60197-4726
For
Overnight payments:
RLI Insurance Co. Box 4726
JP Morgan Chase
131 S. Dearborn, 6th Floor
Chicago, IL 60603
RLI'S IN HOME BUSINESS POLICY (IBP):
|
Premiums as low as $150 per year |
|
Low $100 deductible |
|
Endorsed and administered here in Maryland by your state association |
Effective
June 1, 2010Guidelines: Selecting the Appropriate Class of Business
Quick Rater
In Home Business
Application- to be used
for all business effective June 1, 2010
In Home Business 2nd Location Supplement (Posted 5.1.09)
RLI TRIA Form (Must be signed by
insured)
In Home Maryland Rates & Rating Guide
2010 In Home Business Notice to
Policyholders
2010 In Home
Business Forms & Endorsements
(not all
endorsements apply to all policies...see insured's dec for list of applicable
endorsements)
2010 In Home Business Slide Show of
Changes
Don't Forget
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Multiple youth drivers |
|
Less than perfect driving records |
|
Multiple vehicles and residences |
|
Lower underlying limits |
|
Motorcycles, seadoos, jet skis and snowmobiles |
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Apartment houses, watercraft, rental units, family farms and vacant land. |
|
|
Take a look at the Kelsey !
Big “I” Flood is market access, education and an advocacy program for all IIABA members.
Big “I” Advantage operates as a managing general agency providing agents with access to the company partners after completing an online registration with Big “I” Markets or Selective Insurance.
With company partners, the program offers flood coverage in, above and outside of the National Flood Insurance Program (NFIP).
Selective Insurance, our endorsed WYO offers the primary NFIP policies with ease of doing business, competitive commission and the latest technology for quoting, placing and servicing of flood insurance. With expert and dedicated staff at the Big “I” and Selective Flood Operations in Branchville, NJ, we are able to help the agent through the entire sales process as well as provide the underwriting and claims handling necessary to retain the business. Commissions to agent are 18% new; 15% renewal but can be negotiated even higher with a sizeable book roll or premium volume. Agent access is either through Big “I” Markets or Selective’s online system, Flood Online®.
If higher limits are needed above what NFIP has to offer Wells Fargo Special Risks and their in-house underwriters are available through a Big “I” Markets submission providing excess flood limits over ANY NFIP policy to an aggregate $20,000,000 limit using various Lloyds of London syndicates.
And if the property is ineligible for the NFIP such as one located in a Non-Participating Community or has been designated as a Coastal Barrier Resources System property, Wells Fargo Special Risk can help with those properties as well.
Most of Selective’s Territory Managers are certified flood continuing education instructors and can teach a CE class that your association sponsors at a nominal (if any) cost – another added value of the program.
Virtual University hosts the Big “I” Flood Learning Center which offer courses for both CE and non-CE.
Government Affairs staffers and Linda Mackey, Program Manager are involved in several government advisory committees (Flood Insurance Producers National Committee - FIPNC & Institute for Business & Home Safety Flood Committee - IBHS) as representatives of the member agent.
Capitol Hill staffers lobby on behalf of IIABA members for NFIP reform. For information on NFIP Reform, click here.
Agent registration: www.bigimarkets.com
Market access for submissions: www.bigimarkets.com or www.floodonline.com
Retirement Programs-401(k) PLAN
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Free Market Access for Members |
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IIAM Members Get Free Access to a
Number of Personal and Commercial Programs with
Selective Flood Insurance
Program
For more information contact Linda Mackey at 703-706-5380.
How to Access Products on Big "I"
Markets
If you are
already registered with Big "I" Markets If you are
new to Big "I" Markets Click here for Registration Guidelines
Have a question or concern? E-mail Carla Short for assistance or call 410-766-0600 |
2408 Peppermill Drive, Suite A
Glen Burnie, Maryland 21061
Tel. (410) 766-0600 or (800)544-3368
Fax. (410) 766-0993
E-Mail: iiamarnold@aol.com
