Happy Wednesday! In this week's Big I Buzz, we are talking about the newest market available through IMS, the upcoming Commercial Lines Task Force meeting and the worst states for road rage. 

United Fire Group (UFG) is the newest market available through Independent Market Solutions!

UFG, the newest market available to our agents through IMS, has enhanced its small business quoting experience, making it easier for agents to do business online. Learn more about their quoting platform and policies here: https://bit.ly/3SXsnxL. 

Join in the first Commercial Lines Task Force Meeting for 1 hour of FREE CE

October 26, 2022

9 a.m. to 11 a.m.

The IIAW will be hosting its first Commercial Lines Task Force meeting from 9 a.m. to 11 a.m. on October 26, 2022. This quarter's meeting topic focuses on the WC Rate Decrease Overview and WCRB will discuss their role, trends in payroll and premium by industry group, the health of the marketplace from a market share perspective and more. Attendees will receive 1 hour of free CE, pending CE approval. In addition to the free CE, you will have the opportunity to get to know the members of the Commercial Lines Task Force. Task Forces and Councils act as a sounding board for planning IIAW education, events and other member benefits. Participation in our Task Forces and Councils gives you access to industry experts, exclusive networking events and FREE CE opportunities during most virtual meetings when content allows. 

Click here to register 

Forbes Advisor: Worst States for Road Rage

Forbes Advisors have recently analyzed drivers in the U.S. to see which states are the worst for road rage.

They've listed the top five states in the U.S. for the most confrontational drivers using a 'confrontational driver score'. The score measured 10 different metrics and these were their findings:

5. New Mexico - confrontational score 91.17 out of 100

4. Oklahoma - 92.86 out of 100 

3. Colorado - 94.74 out of 100

2. Missouri - 99.62 out of 100

1. Utah - 100 out of 100

Read the report here.

For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list. Additionally, we send out monthly newsletters with content curated just for you and your role. Make sure you're on the list to receive our communications by heading to bit.ly/industrynewsforyou to stay in the loop!

Tomorrow Kicks off the Official Start of Fall

It's a great time to remind your clients to prepare for the new season. Trusted Choice has an extensive collection of graphics that you can share on your social media pages and in your email newsletters such as: Tips on Saving Energy for the Fall, Fireplace Safety Tips, Fall Garage Maintenance, Transitioning Your Home to Fall, Storing Summer Belongings, Autumn Cleanup Tips and more. As a reminder, you do need to log into your member account to access these social graphics, which are only available to IIAW members. Access the graphics here. 

When a Recession Hits, Insurers Shouldn't Stop Marketing

Continuing to market during a downturn sends a powerful message, and it can bring great results. PropertyCasualty360 lists these four reasons to maintain your insurance marketing budget (even during a downturn): 

"1. You have less competition - It's been documented that companies tend to drop their marketing and ad spend when in an economic downturn. That means your message won't have to stand out among quite as many competitors! If you're one of the few in your niche who's marketing, you'll stand out far more than in a normal marketing period.

2. You send the message that you’re stable While your competitors reduce their marketing activities, you continue as if your budget for marketing hasn’t reduced – and that sends a powerful message. It gives the impression that your company doesn’t need to reduce its marketing budget, because you’re that stable and successful. That naturally draws others to want to work with you.

3. You prevent the feast-or-famine cycle Running your own business can often feel like going from feast to famine – you’re either far too busy to market, or business has dropped off and you can’t afford to. But it doesn’t have to be that way. By thoughtfully allocating resources towards marketing (including before and during a downturn) you can prevent the worst effects of an economic slowdown from impacting your business. You can keep your business coming in, even when others are struggling.

4. It’s a great time to rebrand or introduce new products Because the background noise is turned down during a recession and fewer companies are competing for your audience’s attention, it can be a great time to rebrand your company or introduce new insurance products. You’ll get a larger audience share for your new initiative, which can make it even more impactful than it would be during a normal period." Read the full article here. 

New Hire Training Needs

Your IIAW membership gives you access to the MyAgencyCampus employee training platform. MyAgencyCampus is an easy-to-access learning tool with training bundles tailored by job role and experience.The course offerings are interactive, fully narrated, include knowledge checkpoints and end with a final assessment. They can be accessed as many times as needed throughout your four month subscription. Visit myagencycampus.com for your new hire training needs and enter code NewHire at checkout for 20% off!

For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list. Additionally, we send out monthly newsletters with content curated just for you and your role. Make sure you're on the list to receive our communications by heading to bit.ly/industrynewsforyou to stay in the loop!

Happy Wednesday! We hope that everyone had a great Labor Day. In this week's Big I Buzz, we are discussing the states with the most auto thefts and why you should register for Trusted Choice's upcoming webinar. 

Hot Spots for Hot Cars: Colorado Leads U.S. In Vehicle Theft Rate, California in Overall Thefts

A new report from National Insurance Crime Bureau found that Texas, California, Florida, Illinois and Colorado are all places where your car is most likely be gone in 60 seconds. Insurance Journal reported, "Nationwide, 932,329 vehicles were reported stolen to law enforcement in 2021, a 6% increase over 2020, and a 17% increase since 2019. The top five states by volume - Illinois, Florida, Colorado, California and Texas - account for 44% of all vehicle thefts nationwide. Colorado led the nation in 2021 with the highest overall theft rate at 661.21 thefts per 100,000 people, up from 502. 12 in 2020 and an increase of 32%.

Read more here. 

Register Now for the Intro to Trusted Choice Webinar

Get to know Trusted Choice and all the free programs and resources available to you as part of your membership. The webinar is happening on Wednesday, September 14th at 1:30 CST. Here are some reasons why you should take advantage of this IIAW member benefit:

Trusted Choice has a Marketing Reimbursement Program available to assist agents with branding efforts, website upgrades and securing more leads.

They also offer a free Trusted Choice Digital Review which analyzes your website and social media channels and gives you actionable feedback you can use to strengthen your online presence.  

Trusted Choice has a content library with content to share on your social media channels. Additionally, they have FREE customizable marketing campaigns. 

This is just a glimpse of the programs and services Trusted Choice has to offer. Register for the upcoming webinar to learn more. 

For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list. Additionally, we send out monthly newsletters with content curated just for you and your role. Make sure you're on the list to receive our communications by heading to bit.ly/industrynewsforyou to stay in the loop!

Happy Wednesday! In this week's Big I Buzz, we are reminding you about your last chance to register for FREE continuing education credits and the latest prediction for auto premiums in 2023. 

Free CE Classes Brought to You By PuroClean

The IIAW's Gold-Level Supporting Company member, PuroClean, will be hosting FREE continuing education courses on Friday, September 16th at the Machine Shed in Waukesha. 

Earn three credits for their Errors & Omissions course from 9 a.m. to 12 p.m. This course is not eligible for premium credit. And, earn another three credits for their Toxic Mold Remediation course from 12:30 p.m. to 3:30 p.m. Lunch is provided during this event. Fill out the registration form and send it over to Abby Coffey by September 9th to attend. Click here for the registration form and submission instructions. 

Auto Premiums Could Climb Another 12% in 2023

A new report from Insurify predicts that insures could pay an average of $1,846 for auto premiums, which would be an increase of 12% from the previous year. The prediction is a result of rising car prices from COVID-19. Between 2020 and 2021, new car prices had spiked 17.2% over previous years. According to a report from the Zebra, "In 2019, the average new car cost was $36,824 and is projected to climb over $47,000 by the close of 2021. Used cars have followed a similar trend, with the average price of a preowned vehicle increasing from $19,863 in 2019 to $28,205 in 2021. Read more from NU Property Casualty 360 here. 

For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list. Additionally, we send out monthly newsletters with content curated just for you and your role. Make sure you're on the list to receive our communications by heading to bit.ly/industrynewsforyou to stay in the loop!

Happy Wednesday! In this week's Big I Buzz we are discussing your last call to register for the event of the summer, new requirements for TPMO when selling Medicare Advantage and/or Part D Plans and findings from the Big "I" 2022 Market Share Report! 

Last Chance to Register 

Don't miss out on this year's Sales & Leadership Summit happening in Neenah, WI on August 23-24. MarshBerry instructors will deliver an action-packed 1.5-day workshop filled with topics focused on building your strong sales culture. To know where your agency stands, you need to benchmark your sales culture in four key areas: sales leadership, performance management, people development and technology. PLUS your registration includes access to the 1.5-day workshop, meals and ticket to a Timber Rattlers baseball game on August 23rd! Registration closes tomorrow at 5 p.m. Save your spot before registration closes now: https://bit.ly/SalesLeadershipSummit.

New Requirements for TPMO When Selling Medicare Advantage and/or Part D Plans

Recently, the Centers for Medicare & Medicaid Services (CMS) issued a final rule that will affect all agents & brokers who sell Medicare Advantage and Part D plans. The IIAW has put together an informative brochure created by your team at the IIAW to help you navigate these mandatory requirements. The agency will need to update disclaimers (written and verbal) and will also be required to record specified phone conversations as part of this change. All requirements must be implemented by October 1st, 2022. View the brochure outlining the necessary steps to become compliant with the new requirements here. 

Independent Agents Place Majority of U.S. P&C Insurance: Big I

Big "I" has released their 2022 Market Share Report, and the findings show that the independent agency channel places 63% of all property-casualty insurance written in the U.S. According to Insurance Journal, "Based on 2021 data, this year's report points to independent agencies' dominance in commercial lines, finding that nearly 88%% of all commercial lines written premium is placed by the independent agency channel. The Big "I"'s 2022 Market Share Report summary emphasizes direct premiums, direct losses and the associated direct underwriting results before reinsurance. Read the article from Insurance Journal here. IIAW members have access to the 2022 Market Share Report. If you need assistance with your login information to access the report on the independentagent.com, please feel free to reach out to info@iiaw.com and we would be happy to assist you with getting access! 

For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list. Additionally, we send out monthly newsletters with content curated just for you and your role. Make sure you're on the list to receive our communications by heading to bit.ly/industrynewsforyou to stay in the loop!