Two for Tuesday: March 10, 2015

In This Issue:

Selective Flood Releases Bulletin on HFIAA Changes

Bicycle Coverage: Selling Coverage vs Cost

Special Feature: VRC for Yourself!

Additional Items:

Webinars

Parting Shot

TRIVIA! - Winners & Answers

Last Week's Most Clicked

Sale of the Week

An Inside Look at April 2015 NFIP Changes

By Cassie Masone - Selective Insurance Company, Vice President of Flood Operations

Selective Flood Releases Bulletin on HFIAA Changes

The tides are changing. Due to increasing catastrophic events and resultant rising expenses, Congress has passed numerous updates to help stabilize the National Flood Insurance Program over the last several years, including reforms such as BW12 and most recently the HFIAA. And with those reforms, FEMA is preparing to roll out the second wave of HFIAA changes, taking place in April.

To help you clearly understand what to expect come April and how it may impact your customers, please review Selective's Overview of April 2015 NFIP Changes presentation. In addition, to help explain the effects of these changes with your customers, FEMA's HFIAA April Fact Sheet is a great resource.

It's important to keep in mind that while some of these changes will undoubtedly affect the overall cost of flood insurance, we need to keep customers and prospects informed of their risk for flood. To help you, our Online Marketing Portal has a variety of complimentary tools and resources available. In addition, our Flood Territory Management team is ready to assist you in developing a strategy to communicate the need for flood insurance to your clients.

For additional assistance or if you would like more information, please contact Selective today.

Selective is the only insurer that directly supports national and state association flood advocacy efforts on behalf of our members in Congress and with the NFIP. When you place flood business with the Big "I" Flood program, you strengthen the voice of independent agents.

Learn more about our program-and how to start a simple and satisfying book roll-on the Big "I" Flood program website.

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Special Feature:

VRC for Yourself!

By Elif Wisecup, Director of Marketing of Big I Advantage^®

Seeing is believing! Sure, we can tell you all about the great features available through the Virtual Risk Consultant, like comprehensive checklists, sales and marketing tools, and more, but why listen to us when you can see it for yourself?

To see the VRC in action, click here to experience a limited demo.

For a live demo to learn firsthand all that is included call Margaret Rhodes or Nancy Lynch at (877) 582-9199.

Learn more at www.iiaba.net/VRC.

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Bicycle Coverage: Selling Coverage over Cost

Recently we did a little survey of agents who had requested a Bicycle quote but didn't get a policy. While speed and responsiveness got high marks the most common reason checked for not getting the policy was premium. We were a little surprised until we read the follow-up responses and one agent said it was "higher premium than scheduled on homeowners policy". Well of course it is!

A homeowner policy will just replace the bike, no coverage for theft when away from home (without an endorsement), no coverage for a hit and run damage, no coverage for racing, no coverage if hit by another bicyclist. A Bicycle Policy has all that PLUS:

Rental reimbursement
Competitive fee reimbursement
Spare parts coverage
Cyclist apparel
Medical payments
Roadside Assistance
Electric Assist bicycles
Deductibles as low as $100
Worldwide coverage available

Lastly, I ask you to show me a homeowners policy that offers Vehicle Contact Protection (similar to UM/UIM) for a bicycle!

We made a little comparison chart for you as well as the Sell Sheet offered previously. The Bicycle program is available on Big "I" Markets in all states except AK & HI.

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New Webinars

--RESHEDULED--Commercial Residential Insurance Webinar

Join us to learn about what we can do for you.

Date:Thu, April 2, 2015
Time:01:30 PM EDT
Duration:1 hour
Hosts: Rick Cote, Alternative Distribution Manager, Kathy Stevens, Commercial Underwriting

In this informative webinar, you'll discover:

The many classes of commercial habitational we provide solutions for
How tax credit loss insurance can make affordable housing clients only want you
How to save your client $1,000's, while getting a discount off their premiums
The secret to tenant retention after a loss: This powerful tool blocks the competition
Interior damage from wind driven rain coverage
How to submit business easily
On the spot risk review appointments - have your questions ready and gain immediate access with no volume commitment!

There is NEVER the need for premium financing (direct bill, flexible options)

$20 Amazon gift card just for giving us a try!

Here are the details:

Simply send us a risk to quote within 30 days after the webinar (must be effective within 60 days after the webinar)
Underwriting must release a bindable quote
Collect your gift card!

REGISTER HERE!

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Competing with Direct Sales & Captive Agency Insurers in Personal (and Commercial) Lines

March 25, 2015; 1:00 to 4:00 p.m. Eastern Time
$79 - Click here to register.

Are you tired of all the insurance commercials that shout "Price! Price! Price!"? Are you sick of the silly claim that someone's exposures to loss can be analyzed and priced in 15 minutes or even 7 ½ minutes? How about losing business to someone selling an inferior product yet claiming, "SAME COVERAGE, Better Value"? If so, then sign up for the new 3-hour webinar called "Competing with Direct Sales and Captive Agency Insurers in Personal (and Commercial) Lines." While the focus is primarily on personal lines where direct sales and captive agency companies dominate the marketplace, the first hour addresses both P&C lines and many of the principles discussed throughout the webinar are applicable to both. VU webinar questions can be sent to bestpractices@iiaba.net.

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Remember that you can view the following webinars 24/7 by checking out the BIM Webinar Library. To do that log onto Big "I" Markets and click on "Publications".

Personal Liability Trends - Fireman's Fund
TravPay
Commercial Lessor's Risk
Affluent Homeowners
Travelers Select Products (series)
Travel Insurance
Community Banks
XS Flood
Real Estate E&O
RLI Personal Umbrella
Affluent Homeowner
"Oh, by the way...Flood Sale"
Habitational
Non-standard Homeowner
Student Housing

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BIM WEBSITE TRAINING WEBINAR

For all you folks who recently registered for Big "I" Markets, remember you can participate in a webinar from the comfort of your office to help you learn how to navigate around the system. Every Thursday at 2:00 p.m. EST we'll show you how to navigate the Big "I" Markets platform, including how to submit a quote! Register for the webinar by sending an email with your name and company name to bigimarkets@iiaba.net. Include "Website Navigation Webinar" in the subject line or body of your email. A recording of this webinar can be found under "Publications" after logging into Big "I" Markets.

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Student of the Industry Parting Shot

CBS's 60 Minutes Report Focuses on Flood Insurance:
Top Ten Writers
By Paul Buse, President of Big I Advantage

March came in like a lion for Flood insurance and not because of an early snow melt. On March 1, 2015, CBS's "60 Minutes" reported on the Storm After the Storm. If you have not seen it, you should be aware of it as your customers might inquire and it is likely to bring heightened attention to the federal flood insurance program.

As readers of this section of Two For Tuesday, no doubt you are curious about the total federal flood insurance picture. This line of business is a bit peculiar as participating insurers reinsure 100% of flood losses to the federal government and are paid to distribute the product. That makes it somewhat harder to get figures from the usual industry sources as those sources focus on "net" premium data and that's $0 with flood. Since insurers retain no risk of flood losses, the data I sought on who is the largest writers was somewhat illusive. One could get the data by obtaining the actual "Yellow Book" for each participating insurer from their state domicile but that is time consuming. We were able to get a summary from our Federal Government Affairs team in Washington DC on short notice. Note it is 2013 data, however, and recent combinations and name changes should be taken into account. Also some policy issuing insurers are not necessarily intuitive as to the company group or "brand" they are associated with. Below the graph are notes that should help.

Selective Flood Insurance: Note that your national association and 48 state associations endorse Selective Insurance Company. If you are looking for a provider, we highly recommend them as Selective is THE ONLY insurer who's flood premiums from Big "I" members helps finance the work done on your behalf on Capitol Hill. They are also a Trusted Choice^® insurer. With the fallout from the 60 Minutes expose, our Cap Hill team tells me to expect more attention on the National Flood Insurance Program (NFIP) and the role of and payment to agents is always at risk. Everyone can help support you advocacy team in DC. Go to www.iiaba.net/flood. Agents with big books of NFIP flood, we encourage you move some of it to Selective if it's not there already. No one else is watching your interests and every premium dollar helps.

Click Graph for larger version

Source: Federal Emergency Management Association and your Federal Government Affairs Team at the Big "I"

Notes:

COMPANY	Webpage Link
WRIGHT NATIONAL FLOOD INS. CO. Part of Brown & Brown, Inc. in 2014/ prior was Fidelity National	www.wrightflood.com
NFIP DIRECT SERVICING AGENT Absorbed the State Farm Book in 2010	Shortened LINK
ALLSTATE INSURANCE COMPANY	Shortened LINK
HARTFORD FIRE INSURANCE CO.	Shortened LINK
NATIONWIDE MUTUAL FIRE INS. CO	Shortened LINK
STANDARD FIRE INSURANCE Travelers/Sold flood book to American Bankers	Shortened LINK
SELECTIVE INS. CO. OF AMERICA IIABA and 48 States Endorse	www.iiaba.net/flood
AMERICAN BANKERS INS. CO. FL. Assurant Group/Acquired Travelers' Book	Shortened LINK
USAA GENERAL INDEMNITY COMPANY	Google=> flood site:usaa.com
FIRE INSURANCE EXCHANGE Zurich Ins. Grp. Ltd./Farmers Ins. Grp.	www.farmers.com/home/flood

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Two for Tuesday Trivia

Be one of the first five with the correct answers and win an envy-inspiring TFT Trivia T-shirt. Don't forget to answer the Tie Breaker!

Helen Goss (NH), Patricia Stringfellow (AR), Debbie Gorby (AL), Cindy Callies (SD) & Stephanie James (MS)

1. Legend has it Abraham Lincoln was born in a log cabin. Would the Non-standard Homeowners and Rental Dwellings product cover a modern log home? - YES

2. Which Founding Father is credited with creating Daylight Savings Time? - BENJAMIN FRANKLIN

3. The Nixon Shock was a series of measures which ended what with regard to U.S currrency? - LINKING TO THE GOLD STANDARD

TIE BREAKER

Leonard Nemoy (aka Mr. Spock) passed away this past weekend. How many of the Star Trek movies did he produce or direct? - THREE (Director - III & IV / Producer - VI)

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Last Week's Most Clicked Links

Here are the top three items that got BIM agents clicking from our last edition... see what you missed!