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m2011 MARYLAND ACSROF THE YEAR AWARD:

KUDOSTO ALL

MARYLANDACSRs!

Colleen Dunn,ACSR

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Chairman’s Message

2011 Maryland ACSR of the Year Award

Markets

InsurPac and MAPAC Contributors

Ask Pat

Tidbits

MD ACSRs

What’s It Worth?

Education Corner

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THE MARYLAND MESSENGER INDEPENDENT

AGENTS OF MARYLAND, INC.Editor: Shelley Arnold, CPCU,AU,ARM,AAIGraphic Designer: Laurie HareAdvertising Info: www.iiamd.orgThe Maryland Messenger is a monthly publication publishedfor the exclusive use of regular and associate members ofthe Independent Insurance Agents of Maryland. Publicationof any article, letter to the editor or advertisement in the Maryland Messenger should not be deemed an endorsement by IIAM of the opinions expressed or products advertised. Questions and comments should bedirected to the editor, Shelley Arnold.

Editorial Office, IIAM, 2408 Peppermill Drive,Suite A, Glen Burnie, MD 21061 phone 410.766.0600 • fax 410.766.0993 email iiamarnold@aol.com • www.iiamd.org

IIAM OFFICERS 2011-2012William Knobloch, III Immediate Past Chair

Dennis Lawson Chairman

Michael McCartin, CPCU State National Director

Angela Ripley, CIC Chair-Elect

Terry Katz, CPCU Vice Chair

Jay Duke Director-At-Large

Thomas C. Lowe, CPCU Past President Rep.

Shelley Arnold, CPCU, AU, PresidentARM, AAI, ACSR

KUDOS!Patricia McHugh Lambert, a regular columnist

for the 'Messenger' was named Best Lawyers'

2012-Insurance Law-Lawyer of the Year. The

Best Lawyers is a peer review legal publication

that coducts an annual survey where thousands

of lawyers critique their peers.

You may have heard the IAB (formerly the PIA) of PA, DE and MD decided to drop their

affiliation with the PIA in Pennsylvania and Delaware. In those states they will be aligned

with IIABA (Big 'I') only. Since Maryland was not a merged state, as was the case with PA

and DE, the Maryland agents did not, nor could they vote on the disaffiliation. The IAB

MD is the PIA Maryland. Throughout the summer, the IIAM (Big 'I' Maryland) met several

times with representatives of IAB MD (PIA Maryland) to discuss merger, but after all was

said and done, IIAM felt that it was best to maintain our presence in Maryland and our

affiliation with the Big 'I'. We have never been proponents of our membership being

required to pay two membership dues. We have always felt that true merger MUST occur

at the national level. That being said, we want to invite the members of IAB Maryland (PIA

Maryland) to become members of IIAM (Big 'I' Maryland). They will always be welcomed

to become part of the Big 'I' here in Maryland. IIAM is providing some incentives to join

such as reduced cost for classes as well as some FREE classes. If you know someone that

is not a current member of IIAM and you think they would be interested please invite

them to contact the association office for more details.

Plans to launch Consumer Agent Portal (CAP) continue to move forward.This is an online

program geared to drawing consumers to independent agents and away from direct

writers & other online insurance options. CAP will offer digital marketing tools, courses,

systems and services to increase the agency members of Trusted Choice online marketing

presence.We will continue to keep you posted as CAP is rolled out.

chairman’s messageDennis Lawson

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EXPERTISE YOU CANLEVERAGE. IT

,S THAT

SIMPLE.

A simple machine like the lever redirects and multiplies the force applied to it – making a job easier. Builders Mutual has been taking that same approach to construction insurance since 1984, simplifying and streamlining whenever and wherever possible. Agent tools like BOB 2.0 allow you to issue and service policies online with ease. When you’re quoting construction-related accounts, the insurance choice is simple.

Login today at buildersmutual.com.

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The ACSR designation was established by the Independent Insurance Agents &Brokers of America to recognize the tremendous contributions made by customer service personnel to the success of the independent agency. “Today’sCSR plays such a vital role in the success of an agency, it is important that theirprofessionalism be recognized. Independent agencies today require greater salesvolume supported by fewer staff than ever before. Without the technical and customer service skills provided by the agency staff, this challenge could not besuccessfully met.”, said Shelley Arnold, CPCU,ACSR.

IIAM congratulates Ms. Dunn for her many accomplishments. Persons interestedin attaining the ACSR designation should call Rebekah Langford at IIAM, 410-766-0600 or email her at iiambecka@aol.com.

One of the eligibility requirements for ACSR of the Year is the essay question.Ms. Dunn chose:

How has your ACSR studies enabled you to help your agency help the customerobtain the right insurance for his/her personal or business insurance needs.Describe what you learned and how it helps your customer.(con’t on page 7)

2011 MARYLAND ACSR OF THE YEAR AWARD:

Colleen Dunn,ACSR

THE INDEPENDENT INSURANCE AGENTS OF MARYLAND (IIAM) ANNOUNCED THE RECIPIENT OF

THE 2011 MARYLAND ACSR (ACCREDITED CUSTOMER SERVICE REPRESENTATIVE) OF THE YEAR

AWARD. COLLEEN DUNN, ACSR, HAS BEEN SELECTED FOR THE HONOR. MS. DUNN IS A

COMMERCIAL LINES CUSTOMER SERVICE REPRESENTATIVE AT HMS INSURANCE ASSOCIATES, INC.,

WHERE SHE HAS WORKED FOR THE PAST THREE YEARS. MS. DUNN EARNED HER COMMERCIAL

LINES ACSR DESIGNATION IN 2009. SINCE THAT TIME SHE HAS ALSO EARNED HER CLCS, CRIS,

AND AAI DESIGNATIONS, FURTHER DEMONSTRATING HER COMMITMENT TO PROFESSIONALISM

AND HER CLIENTS.

J A N | F E B 1 2 : 7m m(con’t from page 6)Outstanding customer service is integral to our business. Acompany’s most vital asset is a strong relationship with its customers. They are the blood that pumps through the entireorganization, from the top of the food chain down to the bottom. I am a customer service representative. I am in thetrenches on a daily basis, thinking on my feet, answering calls,handling every major (and minor) “emergency” that may arise inseemingly impossible time frames. I handle everything from clerical duties to policy analysis; certificates of insurance toreviewing contracts for coverage requirements; talking a confused customer through what exactly their insurance entailsto discussing and negotiating coverage options withUnderwriters. Trenches. With a smile and sincerity. I wouldn’thave it any other way.

My foray into commercial insurance was unexpected. Previouslymy experience was in personal lines auto insurance sales, which Ihad done for over 6 years. When I left this job I was convinced I never wanted to work in insurance again. And Imeant it. Until 6 months later, when I interviewed with thecompany that pulled me back in.

My new manager was a bit apprehensive regarding my lack ofcommercial insurance experience. While I held my P&C licensefor the prior 6 years, I had little experience outside the realmof personal auto insurance. Mentally, I asked myself, “How different could commercial insurance be from personal?” Icrack a smile as I look over that sentence, 3 years later. Howdifferent, indeed. Luckily, I convinced her that I was willingto put in as much of my own personal time as it took to learn asmuch as I could, as quickly as I could, about commercial coverage. With a smile, she said, “Great. There is a new onlinecourse that I have signed you up for. You start the Propertysegment tomorrow.” I began to learn about coverages such asBackup of Sewers and Drains, Ordinance or Law, UtilityService Interruption and Electronic Data Processing in thiswhole new world of commercial insurance. Thus began my commercial insurance career and my path to the ACSR designation, my first class of many in my continuing quest forinsurance knowledge.

Currently I work on a book of business as diverse as theycome with both a veteran producer at the height of his careerand a rookie producer who is just starting to shine. FromManufacturers to Schools; from Farms to Contractors; fromMuseums to Restaurants; you name it and it is probably a typeof account that I handle. My ACSR studies helped prepare mefor this. The number one thing tying these and all the accountsI handle together is the need for stellar customer service.

This need to exceed expectations resounds through all the ACSRmodules. All six modules have helped me to understand and recognizethe technical coverage aspects but Module 5 - ProfessionalDevelopment is with me all day, every day, in every interaction withour customers. I think every agent, both novice and veteran, shouldstudy this as it applies in all aspects of our job.

A Key Element of Customer Service is to both identify andanticipate the needs of our customers. By actively listening towhat a customer is saying one can help uncover undisclosed coverage needs. Having the knowledge of our carrier’s productsand being able to explain those coverages to our client is the keyin this fast-paced, paper-pushing, “get it done” business world;it helps us promote our outstanding service standards, helpingus to stand out from the competition. In my experience, manyclients are not well-versed in the intricacies of commercialinsurance and may even view it as a “necessary evil.” That isuntil they have a loss. Then the business owner who has a lossduring peak season and has been paying an additional premium tohave the Business Income waiting period waived on the Packagepolicy is ever so grateful he/she trusted in your knowledge andcoverage recommendations.

My ACSR training, more-so than any other course, has helpedme identify the right coverage for my client’s business needs.More often than not, I discover in my daily tasks as a CSR coverage needs. Jokingly I refer to myself as “SherlockDunn,” as much of my job does entail researching, investigatingand verifying. Usually with certificate requests, the client oftensends over a copy of the contract for us to verify whetherthey have the proper coverage limits. In reviewing closely, withmy foundation of knowledge provided by my ACSR studies, thereis many an occasion where coverage needs are picked up.Gathering information regarding exposures with our questionnaires does not always uncover all needs. Circumstanceschange all the time. Sometimes a simple question such as, “whatis the insurable interest of this bank?” can shine a light on theneed for additional coverage such as builders risk coverage. Areview of the contract can uncover additional business exposuresfor a client’s workers compensation risk. In this time of economic uncertainty it is not rare for clients to take on additional jobs outside of what they typically do and in furtheraway locations. We need to know the right questions to ask;strong insurance knowledge is integral to understanding whatquestions to ask. If you do not have a strong insurance foundation, such as provided by ACSR Commercial Modules,some of these seemingly innocent identifiers will go right overyour head. (con’t on page 22)

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TRAVELERS FORMS DEDICATED CLEAN ENERGY &TECHNOLOGY PRACTICEBrings company's long-term expertise and knowledge basetogether to provide best-in-class service to wind and solarindustries

The Travelers Companies, Inc., which has been offeringinsurance products and risk management services forclean energy and technology businesses for more thantwo decades, announced the formation of its Clean Energy& Technology Practice. This new Practice creates astreamlined source of clean energy and technology-focused insurance products, and risk and claim management resources.

"With Travelers' long experience working closely withclean energy and technology businesses, and as these businesses continue to grow and expand, the CleanEnergy & Technology Practice makes it easier for independent agents and brokers to access the breadth anddepth of Travelers' products and services," said Joe Tracy,President,Travelers Inland Marine. "The Clean Energy &Technology Practice offers rounded total account solutions. Through a single touch point, customers experience a streamlined process that provides access toa broad spectrum of insurance products and risk management services."

The Practice brings together all of Travelers' existing cleanenergy and technology practice areas, providing customers, including wind and solar manufacturers,contractors, power producers, owners and developers,smart grid, fuel cell development, alternative and otherenergy efficient solutions, with industry-specific insuranceprotection. The Travelers Clean Energy & TechnologyPractice has extensive capabilities and interest in supporting U.S. entities and their international exposuresthat focus on technologies that are energy efficient orenvironmentally friendly.

Interest and demand for clean energy and technology isincreasing dramatically in the United States and across theglobe.* As a result, these demands have fueled the growthof businesses in the renewable energy industry focusingon technologies that are energy efficient or environmentally friendly.

"Clean energy and technology companies are expandingacross the globe, each with a unique risk profile that ourunderwriters are trained to understand and address," saidKathy Swendsen, President,Travelers Global Technology."By combining our expertise under one practice, in conjunction with our independent agent and broker network, we help our customers avoid the growing painsof inadequate coverage as their businesses evolve."

The Clean Energy & Technology Practice will bespearheaded by Travelers veterans Tracy and Swendsen,and co-managed by Kirstin Simonson, UnderwritingDirector for Global Technology, and Lauren Cutro Berry,Underwriting Vice President for Inland Marine. For moreinformation about the Travelers Clean Energy &Technology Practice, visit www.travelers.com/cleanenergy.

About Travelers The Travelers Companies, Inc. is a leading provider ofproperty casualty insurance for auto, home and business.The company'sdiverse business lines offer its global customers a wide range of coverage sold primarily through independent agents and brokers.Acomponent of the Dow Jones Industrial Average,Travelers has morethan 30,000 employees and operations in the U.S., Canada, U.K. andIreland.The company generated revenues of approximately $25 billionin 2010. For more information, visit www.travelers.com.

* According to the Solar Energies Industry Association, today, solarenergy is the fastest growing energy technology in the U.S.The U.S.solar market grew to a $6 billion industry in 2010, up 67 percent from$3.6 billion in 2009. Similarly, the U.S. wind industry has added morethan 35 percent of all the new generating capacity over the last fouryears according to the American Wind Energy Association.Today, U.S.wind power capacity represents more than 20 percent of the world'sinstalled wind power.

markets

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marketsFIREMAN’S FUND NEW RESTAURANT PROGRAM ON BIM

If you have an appetite for writing restaurants and eateriesof all kinds then check out the new restaurant marketfrom Fireman's Fund! Like culinary trends, the restaurantindustry is constantly evolving, and Fireman's Fund is staying in front of the curve with a complete package ofsolutions to meet the key needs of restaurateurs. A broadappetite for restaurants and available forms not only protects your restaurant clients' assets but also their reputation, which is critical to keeping their doors open.

The most valued coverages of the Fireman’s Fund productinclude:

* Contaminated Food Costs: Firemen’s Fund will pay$25,000 to clean restaurant equipment and replace consumable goods after a salmonella or E-Coli outbreak.

In addition, it will pay the actual expenses to reimbursepatrons for medical care necessary due to contaminatedfood or if necessary, funeral expenses under our CrisisManagement converge.

* Communicable Disease Coverage: Many restaurant owners aren't aware that if a member of the kitchen staffis injured (cut) and is determined to have Hepatitis, ALLof the patrons that dined at the establishment that eveningare required to be vaccinated for the disease! Fireman'sFund pays to clean the facility, income and extra expensesthat are a result of a covered crisis like a communicabledisease.

* Crisis Management:With Crisis Management coverages,Fireman’s Fund will pay for a Crisis Management (prevention) or PR firm (post-event) to manage the crisisand if possible, contain the incident while preventing itfrom being leaked to the media.This coverage can literallysave a restaurant from losing all of their customers.

In addition, for fine dining establishments Fireman’s Fundwill allow up to 40% liquor receipts,Tips are included asBusiness Income, and Wine is valued at menu price, withyour client's profit built in.

Fireman's Fund has been insuring restaurants for over 100years and wants to share that experience and expertisewith agents who not only want something to sell otherthan price, but who want to protect their restaurantclients' largest investment and often their life savings.For information or to submit business go to https://mar-kets.independentagent.com/bigimarkets/amap/login.jsp.

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Our state PAC, MAPAC (the Maryland Political AgentsPolitical Action Committee) is a separate, non-profit,non-partisan, political action committee. It functions toaid those candidates for legislative or statewide office whounderstand the problems and needs of the independentagent. Donations to MAPAC may be from an individual orfrom the agency.

Our National Pac, InsurPac, functions to aid those candidates for national political offices. InsurPac's interaction with our representatives on Capitol Hill is crucial to the interests of independent agents. Because ofthe bond established through our legislative events,elected officials regularly turn to IIABA's lobbyists whenthey are seeking information about the independentagency system and insurance knowledge in general.IIABA continues to be one of the most influential groupson the Hill.

Our Congressmen use that information to frame insurance issues on Capitol Hill and, in doing so, promote

what is important to IIABA's membership. Donations toInsurPac must be from individuals and the agency mustsign a Corporate Approval form prior to contributing.The form is available on our website athttp://www.iiamd.org/Corporateapprovalform2008.pdf.

Donations may be made at any time. Those that contributed with their dues payment during the last duescycle are being acknowledged today. We wish to thank allthose that contributed to MAPAC and InsurPac and giveyou a huge ‘shout out’ for recognizing the importance ofour PACs.

The truth is that if every agency contributed $50 toMAPAC, IIAM would gain over $10,000 in the State PACand if each agency principal would contribute individuallyto InsurPac, we would be sending over $10,000 to ournational PAC. Won’t you consider contributing today!!

A & W Insurance Services, Inc.

Day, Deadrick & Marshall, Inc.

Earll Insurance Agency, Inc.

Ewing, Hines and Associates

Henry M. Murray Agency, Inc.

HMS Insurance Associates

Insurance Services Group, Inc.

Joseph W. McCartin Insurance

Morrison Insurance Services

North Central Insurance Agency, Inc.

Riehl & Knode Insurance Agency, Inc.

Rossmann-Hurt & Hoffman, Inc.

The Novick Group, Inc.

Tidewater Insurance Associates, Inc.

V.W. Brown Insurance Services, Inc.

W. Ray Huff & Associates

iiam thanks our mapac contributors:

INSURPAC AND MAPAC CONTRIBUTORS

(con’t on page 24)

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Dear Pat:I have heard you speak at seminars and always enjoy

your Ask Pat column in the MD Messenger. Now I have aquestion for you.

I have an insured who wants to change their mailingaddress to the agency address. The policy is endorsedfairly often, which can be confusing to the insured...not tomention the billing.

Do you see any harm in changing the mailing addressfor this insured?

Just trying to be helpful

Dear HelpfulI cannot tell you how many times an insurance

professional gets into trouble when they are simply tryingto do a favor for a friend, a family member or a client.This is one of those situations where, if you do this favor,you might regret it later.

In this case, you would be opening yourself up to exposure for errors and omission claims related to latenotices, billing issues, etc. If something goes wrong, youwill be blamed.

Additionally, in almost all errors and omission claims,the insurance producer wants to argue, as a defense, thatthe policy holder was negligent in not reading what wassent to the insured. If the agent, not the insured, receivedthe materials, then such a defense to an errors and omissions claim cannot be asserted.

Finally, the Maryland Insurance Administration, whichbelieves that policyholders should receive notices, wouldnot, in my view, look kindly on the agency address beingused for notices.

I know that you want to be helpful, but my recommendation is that you should help yourself—andnot do this favor for the insured.Pat

Dear Pat:I am starting to decide it’s time to hang up my spurs

and ride out into the retirement sunset after selling myagency. I would have liked to continue as a producer, but Irecently have had some health problems. It’s just gettingharder for me to do business. I guess it’s a young person’sgame. Any advice about what I should do now?

Wesley in Western Maryland

Dear Wes:My advice would be to slow down partner! (Okay, I

had to get in that western lingo with all that talk of spursand riding out into the sunset.)

The first thing that you need to consider is whether ornot you have a disability insurance claim. Depending onwhat your health problems are, you may no longer be ableto perform the essential functions of your profession. Ifthat is the case and it is appropriately documented, thenyou will need to consider making a disability claim. Whenand how you make a claim should be something you discuss with your attorney.

You also need to consider some tax planning issues.There are many ways that a sale of an agency can bestructured. You want to make sure that you consider thetax consequences of each structure.

Finally, in light of your riding out into the sunset, youwill want to consider your own estate planning issues.Neither cowboys nor insurance professional live forever.Pat

Dear Pat:What should I do when I receive call from a bank

saying that it is giving a loan to an insured and that a newmortgagee should be listed in the homeowner’s policy?With everything going on with the real estate market, I wonder whether or not I should make the change basedupon just a phone call from a bank. What are your thoughts?

Cassandra from Catonsville

Dear CC:What an interesting question! Do you want to do what is

set forth in the policy (which sometimes requires the firstnamed insured to initiate a change in writing), what is industry practice (which many agents believe is to make thechange without contacting the insured), what the underwritertells you to do(assuming that you can get them to tell youwhat the standard practice for such a situation), or do youtell the bank that you will need them to get something fromthe insured before you can make a change?

I vote for the last one. If you have something in writing,you cannot get into trouble. Barring that, at least get confirmation from the insured that they want to make the change. And as always, make sure to document the file.Pat

ASK PAT.Patricia McHugh LambertHodes, Pessin & Katz, P.A.901 Dulaney Valley Road, Suite 400Towson, Maryland 21204(410) 938-8800 • (410) 339-6759 (direct)(410) 832-5628 (fax) • plambert@hpklegal.com

HAVE AN ACCOUNT WITH LOTS OF WATER?

Legionnaires’ disease has been on the rise; expert help,coverage available from Big “I” Markets.

News reports this fall have highlighted that the number ofpeople infected with Legionnaires’ disease has tripled inthe past 10 years. Reports point to many factors that haveincreased the bacteria’s prevalence, including the temperature settings of hot water heaters being turneddown and warmer weather in the Northeast. Recently,reports were aired of legionella infections arising from atypical automobile windshield wiper system. I am certainyou are aware of the Ocean City and Baltimore, Marylandcases in the news over the past few months.

When a person is severely injured or dies—which oftenhappens with Legionella bacteria exposures—another

party is typically sued. IN&V pointed out the liabilityinsurance concerns in an article on a $340-million classaction suit against a hotel for a series of allegedLegionnaires’ disease infections, and there are other incidents as well. To read the IN&V article, go tohttp://www.iamagazine.com/NewsViews/2011/October_13/P-C-Trends.aspx.

The exposure area is closely linked with mold/bacteria andpollution exclusions on virtually all standard p-c insurancepolicies. In addition, exposures to plumbers and anyonethat subcontracts to one are examples for agent’s routineclients who may be interested in learning about theirexposure.

Expert help and coverage is available on Big "I" Marketsfor a specific risk search for the EnvironmentalImpairment/Pollution coverage, or email Paul Buse(paul.buse@iiaba.net) for a general question.

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2012 NIPR OFFICERS ELECTEDKANSAS CITY, Mo.-The board of directors of theNational Insurance Producer Registry (NIPR) re-electedAlaska Insurance Director Linda Hall as NIPR presidentDecember 13, during a meeting in Chicago. Hall has beena member of the NIPR board since June 2003 and servedas president since December 2004.

"The consistency within NIPR's leadership has facilitatedthe pace of achieving an integrated one-stop licensing system for brokers and producers," said MaryellenWaggoner, NIPR Executive Director. "The board and all ofNIPR are focused on developing unified technical innovations to advance producer licensing."

The other officers elected during the meeting wereWilliam Anderson, senior vice president of law and government relations for the National Association ofInsurance and Financial Advisors, who was re-elected vicepresident and Kentucky Insurance Commissioner SharonP. Clark re-elected secretary/treasurer.

NIPR is governed by a 13-member board of directors,with six members representing the NAIC and six members representing industry trade associations (including three producer trade associations). The tradeassociations serving on the board include NAIFA,AHIPand IIABA. Wes Bissett, Senior Council, IIABA serves onthe board.

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SMALL BUSINESS OWNERS TRUSTINDEPENDENT AGENTS AND COMMERCIALINSURANCE CARRIERS SIGNIFICANTLY MORETHAN OTHER FINANCIAL SERVICESBUSINESSES

New Study Also Concludes that Trust is a KeyConsideration When Small Business Owners Select aProperty and Casualty Agent and Carrier

WORCESTER, Mass. – The Hanover Insurance Group, Inc.(NYSE:THG), a leading provider of property and casualtyinsurance products nationwide, announced the results of anew survey that demonstrates small business ownerstrust independent insurance agents and commercial insurance carriers significantly more than other financial services businesses.(con’t on page 13)

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DATA BREACH, CYBER LIABILITY WEBINARPOSTED FOR VIEWING

Miss last week’s E&O risk management webinar, ManagingAgency E&O Exposure to Data Breaches and CyberLiability? More than 700 Big “I” agents attended and participated in the call on these important topics. Thepresentation was recorded and is now available for viewing online.

Panelists discussed key considerations agents should bethinking about when it comes to exposures associatedwith protecting customer data.Topics discussed included:• How state and federal laws impact an agent’s

responsibility to protect customer data, including realexamples along with resources available for learningmore about specific laws

• Which data is considered personally identifiable information and an average agency’s areas of exposure

• Accepted methods for protecting against the agency’sinternal and external exposures

• The member resources focusing agency privacy andsecurity provided by the Agents Council for Technology

• Coverage available to agents for liability created from adata breach

• Key considerations in agencies offering cyber liabilitycoverage to their customers

Go to https://www1.gotomeeting.com/register/252769360to access the 90-minute recording.

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A n d b i t s(con’t from page 12)The study was commissioned by The Hanover as part of abroader effort to stay appraised of the evolving needs ofsmall businesses and to build upon its expertise in thatarea. These efforts are intended to help ensure that itoffers small businesses the most valuable and innovativeproducts and services for today’s current economic environment.

The finding that independent agents and carriers are perceived as having a higher level of trust is important,especially as it comes in a time when trust and confidencein the financial services industry are at an all-time low, aswitnessed by thousands of protesters hosting “OccupyWall Street” events across the country to force changewithin the financial system.

In fact, the survey found trust to be the single mostimportant consideration when choosing an insuranceprovider, with 86 percent of small business owners ratingtrust “very important.” This study underscores that inthese times, trust is a very important attribute for smallbusiness owners when they are selecting a business insurance provider.

“In a time of considerable economic uncertainty, smallbusiness owners want to know they are working with an

agent and a carrier they can count on. This study con-firms what we at Hanover have always believed - that it’scritical for companies to establish and maintain trust and confidence of those they serve,” said Michael Keane,president, small commercial at The Hanover.

The study also uncovered that small business ownersactually have the highest level of trust in IndependentAgents, compared with all the other financial servicesindustries in the survey. In fact, the majority of small business owners reported that they consider IndependentAgents as being trustworthy.

“The trust that small business owners place inIndependent Agents, underscores Hanover’s strategy ofpartnering closely to distribute our unique portfolio ofsmall business products and services through a selectivegroup of professional Independent Agents” says Keane.He added, “For nearly 160 years, we have been deliveringon our promises to our agent partners and their customers—so that they can trust that we will be therefor them when it matters most. That commitment standstoday and will continue tomorrow.”About the Study

This study was conducted by The Pert Group, a third-party independent consulting and research firm with broad experience infinancial services industries. Results for this survey are based on onlineinterviews conducted September 14-23, 2011, among 501 small business owners with less than 30 employees.

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Kudo’s toMaryland’sACSRs

Special Thanksto theirCommitment toProfessionalism!!

Jannalex Alviarez, ACSRDoreen Armstrong, ACSRCarrie Arnold, ACSRMichele Arnold, ACSRRachael C. Bannon, ACSRGretchen Becker, ACSRKathryn A. Bell, ACSRNicole Briney, ACSRRebecca Brogan, ACSRConstance Brooks, ACSREmily Bucci, ACSRBarbara Burk, ACSRTracey Burk, ACSRDonna Carter. ACSRJessica Causey, ACSRStephanie Colburn, ACSRTasha Connelly, ACSRJoseph Conroy, ACSRR.Delores Culverwell,ACSRJanie Cuthbertson, ACSRJoy Davidson, ACSRKathy Dicken, ACSRColleen Dunn, ACSR2011 ACSR of the YearCynthia Englar, ACSRStephanie Fairley, ACSRLouise W. Feeney, ACSREllen Fick, ACSRPatricia Fields, ACSRStephanie Fischer, ACSRShirley Foster, ACSRJanet Fritz, ACSR2007 ACSR of the YearSharon Gardner, ACSRLois Yvette Gathings, ACSRJoAnn Genovese, ACSRCindy Gnau, CPCU, ACSRJudith A. Godbey, ACSRElizabeth Green, ACSRShelley Hall, ACSRKathy Harrington, ACSRStacie Harris, ACSRLori Harris, ACSRKimberly Harris, ACSR

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Dawn Hensley, ACSRMichele Herget, ACSRElinor Hilliard, ACSRJoanne E. Holmquist, ACSRPippa Horton, ACSRRita Hudson, ACSRDarlene Hudson Sauerwein, ACSRMary Ellen Isennock, ACSRMarilyn Jacoby, ACSRJanice Johnson, ACSRDelois Johnson, ACSRCheryl Jones, ACSR2010 ACSR of the YearKenneth Jones, ACSRLinda Jones, ACSRRuth Jordan, ACSRLisbeth Joy, ACSRBarbara Keller, ACSRNancy R. Kristofik, ACSRRebekah Langford, ACSRScott Latham, ACSRDawn Lechner, ACSRPatricia A. Lincoln, ACSRNatalie Lopez, ACSRKristen Marquez, ACSRMarla Mayles, ACSRMary Jane McBride, ACSRAshley Kirsten McGrath, ACSRMichelle Meyer, ACSRJoanna G. Moorman, ACSRKerri Morin, ACSRBeverly Morton, ACSRWanda Muncey, ACSRValerie Murray, ACSRLauri Neubauer, ACSRAngela Openshaw, ACSR2009 ACSR of the YearMary Oppitz, ACSRMargretta Palya, ACSRHeather Parker, ACSRCarol A. Patrylak, ACSRLindsay Payne, ACSRJennifer Petrero, ACSRRobert G. Pincus, ACSR

Lisa Pope, ACSRElizabeth Pregent, ACSRRobin Preston, ACSRPhyllis M. Price, ACSRHugh Purvis, ACSRFrank Rapisarda, ACSRLinda Ray, ACSRVicky Rednagle, ACSRChristina Reid, ACSRLacy Revell, ACSRSharon K. Richards, ACSRChristina Robinson, ACSR-Maryland’s 2008 ACSR of theYearRayna Robinson, ACSREdward B. Rosenthal, ACSRLeslie Ryan, ACSRKati Jo Schmitz, ACSRAlyce Schwallenberg,ACSRCrystal F. Schwallenberg-Sears,

ACSRTracey Seibel, ACSRChristine Shelton, ACSRCarla Short, ACSRVanessa Simmons, ACSRMelanie Smith, ACSRKimberly L. Smith, ACSRRuth Spaid, ACSRKate Steele-Walter, ACSRDonna Stolzenbach, ACSRDanielle Supsic, ACSRMavis E. Surratt, ACSRCheryl Terry, AAI, ACSRAnne Tiemeyer, ACSRJennifer Toepel, ACSRValerie Townsend, ACSRMelanie Utterback, ACSRAngela Vecchioni, ACSRLauranne L. Victor, ACSRNancy Lee Wheeler, ACSRJennifer Whittle, ACSRMichelle Williams, ACSRKimberly A. Wood, ACSRAnn Zeh, ACSR

J A N | F E B 1 2 : 1 5m m

The valuation of property causes substantial problems in the contextof potential insurance agent errors and omissions (E&O) claims.Valuation claims can arise in all types of situations. They can occuron a large scale when an agent is obtaining a policy for a commercialaccount with multimillion dollar buildings at issue. They can alsooccur on a much smaller scale, especially in a financial climate whereproperty values may be dropping, replacement costs may be risingand property owners are motivated to take out “bare bones”insurance coverage. Policyholders may have a cynical view of theiragents’ attempts to increase limits as a way to increase premium, asopposed to a means to protect their assets in the event of a largeloss. Until, of course, a loss occurs. Consider the multitude ofclaims following every natural catastrophe that are brought againstinsurance agents once homeowners or small business owners realizethat they may not get enough insurance proceeds to rebuild theirhomes or businesses.

So what can an insurance agent do to avoid potential E&O claims forundervaluing property? Most importantly, agents should be wary ofthe potential for professional liability claims related to valuation.Know that there is no simple formula that will keep independentagents out of trouble. Professional duties can arise in many differentcontexts. If you undertake the task of determining the value of theproperty, you have a duty to do it well; if you have a “special relationship” with a client, you may be held to a higher standard ofcare such that it may be reasonable for the client to rely on you forproperty value determinations; if you advise a client they are“covered,” a later claim of misrepresentation may arise if they suffera loss and have insufficient limits to cover it.

There is no easy answer, but we suggest a simple reminder to helpavoid potential claims regarding —incorrect valuations of property—the Four D’s: determine, deflect, develop and document.

1. Determine:Consider from the outset the method of determining the value. Ifyou will be using valuation software, then make sure to understandthe software well. The valuation obtained will only be as good as the information you provide. Take courses to understand the computerized valuation process. Use comparables, when available, inconjunction with any computerized program you use. If valuation isnot your forte, do not undertake the process; instead, be sure yourclient is aware that you are relying on him or her to complete thevaluation.

2. Deflect:Use other reliable resources. If your client has a good understanding

of the value of his or her property, and what it wouldcost to replace it, then by all means, have the client provide the valuation. Sometimes the carrier can be (con’t on page 17)

J A N | F E B 1 2 : 1 6m mWhat’s it

Worth?by Anne Payne, J.D.

issues with property valuations

there is no easy answer,but we suggest a simplereminder to help avoidpotential claims regarding—incorrect valuations ofproperty—the four d’s:determine, deflect, develop and document.

Anne Payne, J.D., is an assistant vicepresident, claims and liabilities, with SwissRe Corporate Solutions and handlesclaims against insurance professionals.

J A N | F E B 1 2 : 1 7m m

(con’t from page 16)of assistance. If you are not sure that the client’s estimates or your own numbers make sense, considerusing an independent property appraiser. Consider usingan “agreed value” for the property so that any coinsurance problem can be avoided. Utilize all possibleendorsements that are available to extend coverage, suchas blanket coverage for commercial property, increasedcost of construction or code upgrade coverage, coveragefor betterments and improvements and endorsements foroff premises power failures in the event of a disaster.

3. Develop:Develop procedures within your agency on how to dealwith property valuation. By creating a system that is

documented and consistently followed,you have a better chance of successfullydefending a claim that you failed to properly value property. For certainrisks, checklists may be helpful. Ensurethat it is your standard process to routinely advise clients in writing toreview the value of their property.

Have available a written explanation ofhow coinsurance may be applied toreduce a loss payment to review withyour clients. Make it routine to put acopy of any request to review values orwritten explanation of coinsurance in theclient’s file.

4. Document:The success in defending any E&O claimrests on the existence and quality of thedocumentation in your file.This is verytrue regarding issues of property valuation. Document various proposalsand especially the client’s declination totake out coverage for a certain limit. Besure to document that discussions of valuation were held, how the valuationwas determined, and the client’s agreement on the value. Document anychanges to limits so that the file reflectswhy the change was made and that itwas discussed with your client.

Just remember that since there arenumerous ways to make mistakes whenvaluing property, agents must undertake property valuations with asmuch care as possible.

More on Property Valuation IssuesWith tornados, wildfires, floods and earthquakes, the losses from catastrophes in the first half of 2011 wererecord-setting. With catastrophe losses comes exposureto potential E&O claims against agents for uncoveredlosses. The allegations of failure to offer coverage andproper limits are common, and the determination ofproperty values is a major issue. The Big “I” VirtualUniversity has some good articles on the topic of undervalued property at www.iiaba.net/VU. Also checkout www.iiaba.net/EO for a free webinar recording titled,“Avoiding E&O Claims from Catastrophe,” which touches on setting limits.

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Visit us at www.PennNationalInsurance.com to find out how you can become an agent with big opportunities for growth.

Business • Auto • Home • Surety

J A N | F E B 1 2 : 1 8m m

A n d b i t s5

MARK MARSZAL JOINS PAYCE ASAGENCY RELATIONS MANAGER

After 30 Years with IWIF, Marszal toSpecialize in Marketing toIndependent Insurance Agents forTowson Payroll Firm

BALTIMORE, MD – Payce, one of themid-Atlantic’s leading payroll service firms, recentlyannounced that Mark Marszal has been hired as agencyrelations manager. In this position, Marszal will utilize his30 years of experience with workers’ compensation insurance provider IWIF to expand Payce’s outreach to independent insurance agents and grow its customer network of workers’ compensation insurance carriers.

Marszal joined IWIF in 1979 and held various positionsthroughout his career with the company, most recentlyProduct Development Director. In that role, he developedstrong relationships within Maryland’s insurance agencycommunity, and also acted as project leader on a partnership with Payce that led to the development of anew “pay-as-you-go” payment option that IWIF introducedto the market in 2006.

Payce specializes in providing a wide array of payroll management, tax filing, human resources and related business services. One of Payce’s premiere services isPremium LinkSM, its no-down payment, pay-by-pay-basedmodel for workers’ compensation premiums. Marszal willspecialize in marketing Premium LinkSM to independentinsurance agents and workers’ compensation insurancecarriers.

“We are honored to have Mark join our sales team, andto be able to benefit from his experience and expertise inthe insurance industry,” said Brian Pfeifer, chief operating

officer, Payce. “During his years with IWIF, Mark workedwith many payroll service programs in Maryland, and thefact that he chose to come to Payce speaks to how muchhe believes in our products and our company.”

“In my previous position, I worked closely with Payce tocustomize a ‘pay-as-you-go’ workers’ compensation payment option that would best serve IWIF clients.During that time I developed a great working relationshipwith Payce,” said Marszal. “I was very impressed with theflexibility and ability to adapt that Payce offers its customers, and that the workers’ compensation product iscompletely owned and maintained by Payce. I believe it isthe best-designed program on the market to easily modifyto meet the needs of insurance agents. I look forward tointroducing Payce to more people across the industry.”

Mark currently serves as the chairman of the board forthe Insurance Society of Baltimore. He obtained hisChartered Property Casualty Underwriter (CPCU) designation in 2001 and served as president of theMaryland chapter of the CPCU Society for the 2007-2008chapter year. Mark holds a bachelor’s degree in BusinessAdministration from Towson University.

About PayceFounded in 1983, Payce is one of the leading payroll service firms in themid-Atlantic region. Headquartered in Towson, Md., Payce specializes inproviding efficient payroll management, tax filing, human resources andrelated business services while delivering a high level of dedicated andreliable customer service. Payce currently holds strategic partnershipsand alliances with organizations including: Restaurant Association ofMaryland, EPIC Pharmacies, Inc., Restaurant Association of MetropolitanWashington, Maryland-National Capital Building Industry Association,ASA of Baltimore, Health Facilities Association of Maryland, MarylandState Licensed Beverage Association, USB Payment Processing NE andthe Associated Builders and Contractors, Inc. For more information,please call 443-279-9000 or visit www.paycepayroll.com.

J A N | F E B 1 2 : 1 9m m

A n d b i t s6

PRODUCER CONTRACTS EXPLAINED

As agencies formulate plans for the competitive future,increasing sales through effective marketing is a crucialstrategy.

Hiring a new producer provides an avenue by which theagency can market its products and services. The producer may also provide perpetuation options, developproduct lines previously undersold, attract new companymarkets and apply his or her talents for the benefit of theagency.

Every producer in the agency should have a signed contract with the agency. The contract serves as the basisof the business relationship, defines the ownership of thebusiness produced and provides the agency with legalrecourse to discourage piracy of produced business.Contracts can either negatively or positively affect thevalue of an agency.

The keys to drafting a good agreement are creativity,fairness, communication between parties and mutual goalsetting. Because the contract’s terms affect both a producer’s job satisfaction and the cost of that producer'sservices to the agency, the agreement should be structured to provide a clear incentive for the producerto earn higher income by increasing sales.

To ensure long-term success, the producer agreementshould not be biased in favor of the agency and the agencymust be willing and able to provide the producer with therequired inside technical and service support. The level ofsupport will directly affect the level of pay for producers.The parties to the contract must reach an agreement on a

variety of issues, which should be reflected in the pact.

There are several topics that agency owners may considerwhen drafting a contract while giving thought to theappropriateness of each item relative to the agency'sintended application. IIABA’s Guide to Producer Contractsreviews such topics, which include:

• Parties to the agreement• Recitals• Term of the agreement• Responsibilities of the producer• Responsibilities of the agency• Exclusive nature of employment• Compensation• Benefits and expenses• Non-compete• Non-piracy• Non-disclosure• Collections• Authority of the producer• Option to purchase agency interest• Vesting of commissions

To order the e-book version for $15.95, go tohttp://www.iiaba.net/cbsupx/education/evtpreview.aspx?evt=6662.

In addition, for the complete story on finding, hiring,training, motivating and compensating producers, considerTop Producers: Discover,Train, Reward, which includes theGuide to Producer contracts. Go to http://www.iiaba.net/cbsupx/education/evtpreview.aspx?evt=6663, to order.

J A N | F E B 1 2 : 2 0m m

A n d m o r e b i t s

COME TO WASHINGTON, D.C. AND PROTECT YOUR INDUSTRYAttend a one-of-a-kind legislative event for the independent agency system and educate members of Congress on issuesimportant to you and your clients. The 2012 Big “I” Legislative Conference & Convention will be held April 25-27 atthe Grand Hyatt Washington in Washington, D.C. Registration includes an in-depth issues briefing, a general sessionincluding a panel discussion with leading carrier CEOs and valuable networking opportunities. Attendees also have achance to support the future of the industry by attending the YAC Gives Back & InVEST Silent Auction: A Benefit forInVEST Scholarships, hosted by the national Young Agents Committee. . . Don’t miss out. Register today.

(Tidbits continued on page 23)

7

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JAN/FEB1/3Principles of InsuranceJohn J. Darlington, Jr8:30am - 4:30pm7 P/C or 4 L/H and 3 P/C

1/9Homeowners (ACSR #1)Joseph Conroy, ACSR9:00am - 4:00pm 6 hrs of CE in MD, PA & DE

1/11Workers Compensation forContractorsDon Dudey, CPCU8:30am - 5:30pm 8 hrs of CE credit in MD

1/19Commercial Property Insurance(ACSR #6)Don Dudey, CPCU9:00am - 4:00pm 6hrs of CE in MD, PA & DE

1/24Best Practices E&O Loss Control(ACSR #4)Stanley Lipshultz, CPCU9:00am - 4:00pm 6 hrs of P/C or L/H credits in MD.Also approved for 6 hrs of P/C inPA & DE

2/2Insurance EthicsStanley Lipshultz, CPCU9:00am - 12:00pm 3 hrs of ETHICS

2/6Personal Automobile (ACSR #2)Joseph Conroy, ACSR9:00am - 4:00pm 6 hrs of CE in MD, PA & DE

2/8Contractual Risk Transfer inConstructionDon Dudey, CPCU8:30am - 5:30pm8 hrs of CE credit in MD

2/13Property & Liability InsurancePrinciplesINS 21 - Segment AShelley Arnold, CPCU9-4:306 hrs of P/C credits

2/14Personal Insurance (AAI 81B)Joseph Conroy, ACSR9:00am - 4:00pm 7 P/C or 6 P/C and 1 L/H andFlood) of CE in MD only.

2/16Commercial General Liability(ACSR #7)Don Dudey, CPCU9:00am - 4:00pm 6 hrs of CE in MD, PA & DE

2/27Do You Need Your InsuranceLicense?Joseph Conroy, ACSR8:30am - 4:30pmP/C licensing class

Edu ationCorner

J A N | F E B 1 2 : 2 1m m

ACSRTracey BurkStephanie FairleyKate Steele-Walter

CRISColleen DunnPatricia HannBrianne HeadAngela NoonJoseph Quigley

Kimberly SparrowLauranne Victor

AAIKristen MarquezMaureen Cody

AINSRebekah Langford

Congrats!THE FOLLOWING ARE PROGRAM COMPLETERS IN 2011:

J A N | F E B 1 2 : 2 2m m(con’t from page 7)The ACSR course provided me with the necessary foundationto assist our clients in obtaining the proper coverage fortheir insurance needs. Understanding what types of risksrequire what type of specified coverage is integral for professional and ethical customer service. Property, GeneralLiability, Commercial Auto, Miscellaneous Coverage Types areall necessary foundations for an insurance career and eachpainstakingly outlined in terms even a novice can comprehendthrough the ACSR course. I am grateful that my managerhas and continues to consistently encourage knowledge andlearning. We need to hold ourselves to a higher standard ofethical and professional behavior. It is our duty to have athorough understanding of our products; unfamiliarity withcoverage and laws cannot be tolerated in our line of work,where a simple mistake or oversight can cost our client tensof thousands of dollars. In an industry that is constantlyevolving one can never learn enough. Confidence in our knowledge will encourage our customer to trust our recommendations. Working ethically, confidently and accurately helps both our customer and our agency, as bothbenefit from superior customer service. ACSR is where Istarted my commercial studies and I continue to use what Ilearned on a daily basis, in the trenches. It has provided mewith a firm foundation for what I hope will be a long andfruitful insurance career.

8A.M. BEST UPGRADES SWISS RE FINANCIALRATING TO A+

A.M. Best Co. has upgraded the financial strength ratingto A+ (superior) from A (excellent) for SwissReinsurance Company Ltd. and its subsidiaries. SwissReinsurance Company is the parent of Swiss ReCorporate Solutions, the Big "I"-endorsed provider ofagency E&O insurance.

9

Derek Meeks, pro-moted to AssistantVice President ofInformation Systems.Previously, he wasDirector of IS.

Alaina Liberto,promoted to ISDirector of ProjectOffice. Previously, shewas a Senior BusinessAnalyst.

Brian Stephens,promoted to ISDirector ofArchitecture andIntegration.Previously, he was a ProgrammingManager.

Scott Trickett,promoted to ISDirector ofInfrastructure.Previously, he was aHelp DeskTelecommunications& Windows SystemsAdmin. Manager.

Kristin Klein,promoted to LossControl Director.Previously, she was aLoss ControlSupervisor for IWIF’sStrategic BusinessUnit and the StateEmployee RiskManagementAdministration.

IWIF ANNOUNCES MULTIPLE PROMOTIONS(TOWSON, Md.) — IWIF is pleased to announce multiple promotions throughout the organization’sInformation Systems and Loss Control departments.Those who were promoted include:

Established in 1914, IWIF is the leading writer of workers’ compensation insurance in Maryland.

JGSI N S U R A N C E

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Glenn Goldburn

Charles Grant

W. Patrick Kokosko

Albert Lietzau, IV

Michael McCartin

Angela Ripley

Julie Statland

iiam thanks our insurpac contributors:

(cont from page 10)

J A N | F E B 1 2 : 2 4m m

Advertiser: IWIF

Publication: Maryland Messenger

Title: Scoreboard

Date: July/August 2009

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If you have received this publication

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IWIF_scoreboard_MDmessenger_july09.qxp:Layout 1 6/8/09 2:52 PM Page 1

Module Date Instructor CE’s

ACSR 1 - Homeowners January 9, 2012 August 27, 2012

Joe Conroy, ACSR 6 P/C

ACSR 2 - Personal Auto February 6, 2012 September 24, 2012

Joe Conroy, ACSR 6 P/C

ACSR 3 - Misc Personal Lines March 12, 2012 October 29, 2012

Joe Conroy, ACSR 6 P/C

ACSR 4 - E&O Loss Control January 24, 2012 May 8, 2012 November 15, 2012

Stanley Lipshultz, CPCU 6 P/C or L/H

ACSR 5 - Professional Development April 10, 2012 December 6, 2012

Shelley Arnold, CPCU 6 P/C

ACSR 6 - Commercial Property January 19, 2012 July 11, 2012

Don Dudey, CPCU 6 P/C

ACSR 7 - Commercial General Liability February 16, 2012 August 8, 2012

Don Dudey, CPCU 6 P/C

ACSR 8 - Commercial Auto March 15, 2012 September 12, 2012

Don Dudey, CPCU 6 P/C

ACSR 9 - Misc Commercial Line June 20, 2012 October 17, 2012

Don Dudey, CPCU 6 P/C

Time

9am-4pm

9am-4pm

9am-4pm

9am-4pm

9am-4pm

9am-4pm

9am-4pm

9am-4pm

9am-4pm

Name:

Agency:

Agency Address:

City, State Zip:

Email address (required):

Please mail registration form & payment to:

IIAMc/o Education Department2408 Peppermill Dr., Ste AGlen Burnie, MD. 20161

ACSR Program Pricing & Schedule for 2012

Save $$ Enroll in the entire program!

Please register me for:

Please check the box if you plan on taking the exam associated with the module (s).

License # (required):

Rebekah Langford, ACSR Education Director iiambecka@aol.com 410-766-0600 Ext: 103

Per Segment Entire Program

Members: $120 $450 (Personal Lines) $750 (Commercial Lines)

Nonmembers: $180 $540 (Personal Lines) $900 (Commercial Lines)

Tuition:

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Service Designation

The ACSR designation program is nowoffered by The Institutes!

Choose The ACSR Designation That’s Right For You:

x� Personal Linesx� Commercial Linesx� Life & Health

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x� Classroom x� Onlinex� Self-Study

If you have any questions regardingthe ACSR program, please contact IIAM’s Education Director, Rebekah

Langford, at 410-766-0600 oriiambecka@aol.com

Why ACSR?

x� No annual dues x� No reaccreditation or

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x� Annual ACSR Tribute Day which recognizes professionalism and dedication in the industry

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At IIAM we offer both the Personal and Commercial Linesprogram in the classroom. All of our ACSR seminars are approvedfor 6 hours of CE credits in MD,

DE & PA.

For the full ACSR schedule for2012 please visit our education

website atwww.iiamdeducation.org