April Shrewsbury, Big "I" Umbrella Program Manager
 We may not have a TV show, but here at Big I Advantage®, we enjoy our own type of insurance "mythbusting." Here's a common myth we're about to bust:
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MYTH: A personal umbrella is something I only need to offer to wealthy customers.
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TRUTH: Because anyone can be sued, everyone needs a personal umbrella.
Both agents and insureds are guilty of thinking that a personal umbrella is only for the wealthy, but that couldn't be farther from the truth. Here are several ways to help your customers understand that they need an umbrella even if their last name isn't Gates or Rockefeller.
TIP #1: Explain in layman's terms what an umbrella is…an affordable way to protect themselves if someone sues them for more than what's covered by their basic policy. Make it simple and don't use insurance jargon that leaves your customer glassy-eyed.
TIP #2: Provide real life examples (such as these) of claims that have impacted "the average Joe". Most people would purchase an umbrella if they truly understood its value in a personal, relatable way.
TIP #3: Clarify that a single judgment can exceed their savings, the value of their home and other assets…putting their FUTURE earnings at risk. Renters are especially vulnerable to judgments that garnish wages and future earnings.
TIP #4: Advise that an umbrella covers defense costs. Besides the threat of a costly judgment, your customer will also have to pay to defend themselves, even if the suit is frivolous. A defense attorney may charge anywhere from $100 to $800 per hour…but a personal umbrella pays defense costs in addition to the insured's limit of coverage.
TIP #5: Show that an umbrella is an affordable way to obtain a lot of coverage. Depending on the insured's location, a Personal Umbrella averages just $250 in premium…that's just $20 per month for $1 million in personal liability protection. You can quote an umbrella in just two minutes at www.iiaba.net/RLI.
Armed with these simple tips, you'll find it easier to write more personal umbrellas, thereby protecting the customers who trust you, increasing client retention, and guarding yourself against "failure to offer" E&O claims. Keep in mind that you have access to the IIABA-endorsed RLI Personal Umbrella, which offers limits of up to $5M ($1M in NM) and excess UM/UIM nationwide. Obtain a quote today at www.bigimarkets.com or at www.iiaba.net/RLI.
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SPECIAL FEATURE
Keep Big "I" Membership Current to Maintain Full BIM Commission
 Beginning in April, non-IIABA members will see changes in commission levels on business placed through Big "I" Markets. This includes Big "I" Markets products, Eagle Agency, Eagle Express, and RLI if placed with IIAA Agency Administrative Services, Inc. Agencies whose membership has lapsed will earn 50% of commission previously earned. In addition, non-members will be paid on a quarterly basis.
Membership status is verified monthly. Keep your membership current to avoid this reduction and to continue receiving the many valuable benefits offered by the Big "I" and your state association, including Big "I" Professional Liability, E&O Happens Risk Management, Big "I" Flood, Big "I" Retirement Services, member discounts on DocuSign electronic signature processing and your free IA magazine subscription.
Has your membership lapsed? Contact your Big "I" state association to sign-up.
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 Good customer service is expected but rarely noticed. Exceptional service may be remembered but bad customer service is never forgotten.
Putting that service in the hands of another can be a great convenience, but can be scary. If you have business with Travelers Select or CNA on Big "I" Markets, put your mind at ease. Both companies have highly trained personnel in place. You or your insured can call knowing you will be answered by someone with extensive training and the technology to quickly resolve almost any request. These representatives are personally responsible for every client or agent contact they get.
But what if they make a mistake while servicing your clients? They also assume E&O for any transaction started or finished by their teams.
Since business owners need flexibility, you may reach representatives from both companies during the extended business hours of Monday-Friday 8:00 a.m.to 8:00 p.m. Eastern. Travelers Select insureds can also request certain services online 24/7 at www.travelers.com/servicecenter.
The following services may be provided to your insureds:
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Endorsements
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Certificate of Insurance
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Coverage Counseling
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Coverage Questions
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Billing Questions
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Renewals
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Cross-Selling
The comfort of knowing service is in highly capable hands allows you to spend more time growing your business instead of just maintaining it.
Check out the Small Commercial Standard Markets and access them on Big "I" Markets.
Small Commercial Standard Markets
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Travelers Select® Travelers Select Accounts offers a robust variety of coverages for small businesses. A proprietary BOP product, Master Pac®, Workers' Compensation, Commercial Automobile, and Commercial Umbrella are available, with a broad array of industry-specific coverage options and coverage extensions. Travelers is available in all states except AK, FL, HI, LA, RI & TX.
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CNA Small Business CNA Small Business currently offers a market for a broad variety of businesses, representing Healthcare, Financial Institutions, Professional Services, Business Services, Technology, Retail, Real Estate, Wholesalers and Manufacturing. BOP, Workers Compensation, Commercial Automobile, and Umbrella and Miscellaneous Professional Liability products are available. CNA is available in all states except AK & HI.
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RLI/CBIC's Mainstreet RLI/CBIC offers a wide variety of BOP & Package classifications in the service, retail, light manufacturing, construction and hospitality sectors. RLI/CBIC available in AZ, CA, ID, ND, NM, NV, OR, & WA. Mono-Line General Liability is available in all states. $5,000 minimum premium for packages and $500 for BOP.
ACORD Applications and 3 year loss runs will be required.
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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".
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AIG Private Client Group Homeowner - Automobile NEW
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AIG Private Client Group Homeowner - Overview NEW
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TravPay
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Commercial Lessor's Risk
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Affluent Homeowners
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Travel Insurance
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Community Banks
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Affluent Homeowner
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Real Estate E&O
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RLI Personal Umbrella
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"Oh, by the way...Flood Sale"
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Habitational
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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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Big "I" Product Webinars
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Wednesday, March 1 - 2:00 - 3:00pm EST. "AIG Private Client Group - Collections". Join Lisa Gelles, AIG Private Client Group Business Development Manager as she breaks down AIG's Private Collections product. She will discuss the various coverages and services provided to your clients for their valuable collections. Click here to register.
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Big "I" Virtual University Webinars
Don't miss the following education opportunities provided from the Big "I" Virtual University experts that focus on topics agents need to know to make a smart start in 2016. For more information, contact national staff.
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March 15 - 1:00 - 2:30pm EDT. "Is the Absolute Pollution Exclusion Really Absolute? Hint: NO!". ". During the 90 minute webinar Chris Boggs will tear into, or tear apart, the so-called "absolute pollution exclusion." Beyond a detailing of the exclusion and its exceptions, we: (1) Discuss and detail some key terms and concepts found within and applicable to the "absolute" pollution exclusion; (2) Define "pollutant"; (3) Detail the need for a "causal connection" between the release of a pollutant and damage; and (4) Introduce the historical purpose of the pollution exclusion. Click here to register.
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Be one of the first five with the correct answers and win a $5 gift card (Starbucks, Dunkin' Donuts, Baskin Robbins, or Krispy Kreme).
Don't forget to answer the Tie Breaker!
1. For the Small Commercial market. other than a BOP, what three coverages do Travelers Select and CNA both offer?
2. On this date in 1953, James Watson and Frances Crick informally announced they had discovered the structure of ______________.
3. The RLI Umbrella program allows for how many DWI/DUIs per household?
TIE BREAKER
TB - We’re all working hard with the goal of a comfortable retirement. What is the name of the Big “I” staff person you should contact to ensure you will be independent when you retire? Hint: www.iiaba.net/Retirement
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BIG "I" MARKETS SALE OF THE WEEK
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