In the last two years thousands of agents have signed up to use Big "I" Markets, so it's past time we ran our (updated and improved) Frequently Asked Questions list.
Have a question that you don't see here? Drop us a line at bigimarkets@iiaba.net or call the Technical Hotline at 703-647-7800. We're happy to answer your questions. Don't forget new users can register for our ongoing BIM training webinars by sending an email to bigimarkets@iiaba.net. Check the webinar section below for more details.
The purpose of this webinar is to provide information about a very important element of coverage critical to building service providers, contractors, insurance agents, claims adjusters and subrogation units.
At the conclusion, participants should be able to: understand the primary purposes of CGL PD coverage and exclusions; understand the grant of coverage found in the language of these exclusions; understand the distinctions between ongoing vs. completed operations within the context of the exclusionary language; understand the historical significance and current application of "broad form property damage" and better serve insurance purchasers, particularly in the service and construction industries. VU webinar questions can be sent to bestpractices@iiaba.net.
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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Multifamily Insurance - Instant access
Get a $20 Amazon gift card just for giving them a try! (Click to register for all details)
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 committment!
There is NEVER the need for premium financing (direct bill, flexible options)
The purpose of this webinar is to provide information about a very important element of coverage critical to building service providers, contractors, insurance agents, claims adjusters and subrogation units.
At the conclusion, participants should be able to: understand the primary purposes of CGL PD coverage and exclusions; understand the grant of coverage found in the language of these exclusions; understand the distinctions between ongoing vs. completed operations within the context of the exclusionary language; understand the historical significance and current application of "broad form property damage" and better serve insurance purchasers, particularly in the service and construction industries. 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.
We estimate Personal Umbrella Policy ("PUP") Premiums in USA in 2013 were $2 to $3 billion. That is $15-20 of PUP premium per about 122 million householders in the USA. For comparison, we know premiums for homeowners is $659 per household and personal automobile is $1,476 per household. The average ratio of PUP to Homeowners is just over $3 of PUP to $100 of home.
Click Graph for larger version
Source: A.M. Best Aggregates and Averages and PUP Rate Filings
Contest: We believe, many personal umbrellas go unsold and that not only creates an E&O risk, it creates a sales and service opportunity. We also believe some agents sell a lot more umbrellas than the average. Our partners, RLI Insurance Company who is our primary endorsed PUP provider, has agreed to underwrite a small contest with Two For Tuesday readers. If you feel your agency has a high penetration of personal umbrellas, email me with your 2014 personal umbrella premiums and your homeowners premiums. The winner will receive their choice of any Maui Jim, non-prescription sunglasses. No figures will be published without the express permission of those competing but we will want to also learn what drives the winner's high penetrations. We, of course trust you, and we will use the honor system in the self-reporting of your premiums. We will require the winner to provide a general summary and tips on your agency's approach in offering PUPs.