Two for Tuesday Header
 
 
In This Issue:
Chubb's Unique Service Offerings. Insure Wisely. Live Confidently
Fidelity Bonds
Special Feature: Big "I" Perpetuation Planning Resources Page
 
Additional Items:
Webinars
TRIVIA!
Last Week's Most Clicked
Sale of the Week
 
 
Chubb's Unique Service Offerings. Insure Wisely. Live Confidently
By Meghan Gentry, Senior Marketing Specialist Chubb Personal Insurance

Chubb's Signature Suite of exclusive offerings can help clients live confidently and balance the risks and responsibilities that come with their unique lifestyles. Available exclusively to clients with premiums of $15,000 or more, this collection of services provides additional protection in the areas of personal security, travel security, staff management & collections management.

Personal Security:
Teaming with The Ackerman Group LLC (AG), a premier consulting, investigative and crisis management firm, Chubb can help take preventative measures to protect you and your family from risks such as identity theft, kidnapping, home invasion, and more. AG will provide a complimentary vulnerability diagnostic to identify your personal security concerns and recommend ways to improve your protection. A security consultant will work with you to suggest personal and travel safety measures; assess phone and computer security; review architectural plans to determine the best solutions for home protection and discuss any cyber security risks and concerns you may have.

Travel Security:
Available for roughly $365 annually, Chubb's Signature Passport provides frequent travelers with both coverage & travel assistance. Available in all states EXCEPT Alaska, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, Montana, Nebraska, North Dakota, South Carolina, South Dakota, Vermont, Virginia, and Wyoming, this policy allows for the following: Staff Management:
Chubb offers consultations for workplace incidents or concerns regarding household or family office staff through our relationship with workplace risk experts The McCalmon Group, Inc. We can connect you to experienced employment practices professionals to discuss issues such as recruiting, hiring, disciplining or terminating employees; managing immigration, medical leave and wage issues; and how to investigate employee wrongdoing. In addition to these services, you can get background investigations on your existing or prospective full-time and/or live-in employees at discounted rates through The Ackerman Group LLC.

Collections Management:
Chubb currently offers Collectrium, a premier collection management software option, at a discounted rate. The easiest and most powerful way to self-manage any collection of art, jewelry or antiques, Collectrium works on any computer, smart phone or tablet and you can access your collections anywhere with total privacy and security. The digital platform creates a seamless avenue for communication with your client and enables you to stay up-to-date regarding any changes to their collection that may impact insurance coverage (i.e. a newly acquired item, change in value, or change in location). In addition, the claim reporting and settlement process can be faster and easier, considering all relevant information and documentation is readily available through Collectrium.

About Chubb
For more than 130 years, the Chubb Group of Insurance Companies has been delivering exceptional property and casualty insurance products and services to businesses and individuals around the world. Today, it is the 12th largest property and casualty insurer in the United States and has a worldwide network of some 120 offices in 25 countries staffed by 10,200 employees. The Chubb Corporation reported $51.3 billion in assets and $14.1 billion in revenues in 2014. According to Fortune magazine, Chubb is the 208th largest U.S.-based corporation.

Learn more by logging into www.bigimarkets.com and selecting Affluent Program New Business.  
 
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Special Feature:
Check Out the Big "I" Perpetuation Planning Resources Page
By Elif Wisecup, Director of Marketing of Big I Advantage®

There is so much to consider with an agency perpetuation plan: agency value, buy/sell agreement, agency ownership, internal, external, planned retirement, sudden death, and they are all important to prepare for as part of the plan of the agency life cycle. IIABA has gathered many useful items on this topic at the Perpetuation Planning Resources Page.

Check out these quick links (login and password may be required): You can also access the recorded webinar provided by Young Agents and Insurabanc, Moving On Up: Perpetuation for Young Agents.

For the full list of resources, visit the page today.  
 
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Fidelity Bonds
By Lori Olson, New Business Intake Manager Goldleaf Surety Services, LLC

A fidelity bond is a bond which indemnifies an employer against financial loss due to the dishonesty of an employee or protects a business from certain types of damage caused by employees. This type of protection is not mandatory in most states, but it does shield a company from expenses that are not covered by other policies.

There are several types of fidelity bonds, each providing specific coverage:
  • Employee Dishonesty: Do you want to protect yourself from employee theft? Employee Dishonesty is a generic term describing fidelity bond coverage guaranteeing against loss caused by dishonest officers or employees of a commercial firm or by dishonest public officials or employees. For dishonesty there is no deductible and there is very basic coverage for dishonest acts of employees.
  • Business Service Bond: Do you want to protect your clients from theft committed by your employees? Business Service bonds are used in such industries as in house child care.
  • Commercial Crime Bond: Do you want to cover more than just employees? Commercial crime is really more like insurance than a typical bond. If a claim is made the policy owner will likely have to pay a deductible to recoup any loss.
For Employee Dishonesty there is no deductible and there is very basic coverage for dishonest acts of employees. Crime insurance can cover much more than employee dishonesty.

The seven basic agreements for a crime policy are: 1. Employee Theft (which is most like our dishonesty product), 2. Forgery or Alteration, 3. Inside the Premises - Theft of Money or Securities, 4. Inside the Premises - Robbery or Safe Burglary of Other Property, 5. Outside the Premises, 6. Computer Fraud and 7. Money Orders and Counterfeit Paper Currency.

These coverage's can extend coverage to more than employees (such as a burglar who breaks in and takes money from a safe) and therefore is much more comprehensive in coverage. Several endorsements can also be added to cover particular situations such as kidnapping, extortion, and hijacking.

Goldleaf has a number of good surety markets that write fidelity bonds. And for fidelity - or all types of bonds - you can access Goldleaf through Big I Markets. - log in to www.bigimarkets.com or email us at bigimarkets@iiaba.net and an underwriter will contact you.  
 
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New Webinars
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. EDT we'll show you how to navigate the Big "I" Markets platform, including how to submit a quote! A recording of this webinar can be found under "Publications" after logging into Big "I" Markets.
 
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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. Email your answers to bigimarkets@iiiaba.net. Don't forget to answer the Tie Breaker!
 
1. On this day (November 3rd) this now-classic horror flick opened around the U.S. It was the first of many box office hits for both the lead and the director.
 
2. Yasuyoshi Kato embezzled between 62 and 95 million dollars from 1991 to 1997 from Day-Lee Foods. Inc. As a cover for his lavish life-style of what did he claim to be the secret inventor?
 
3. Called "The Eldorado of the Arts" this fabled private (not exhibited to the public) art collection is estimated to be worth ten billion dollars. It is owned by what family?
 
TIE BREAKER

From January 1 to June 1, 2015 there have been six fatalities, (FL-1, IA-1, NC-2, NM-1, & WV-1) from this type of event, which also resulted in $739 million claim losses to U.S. homeowners in 2014.
 
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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!
  1. "Do You Know Millennials?" Quiz
  2. Recreational Vehicles Specialty Coverages
  3. Janis Joplin's Porsche  
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Big "I" Markets Sale of the Week
Congrats to our agent in New York on a habitational condominum sale of $18,840 in premium!  
 
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Tuesday, November 3, 2015
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TFT is authored by Michael Welch
Big "I" Markets Marketing Assistant