Agent News

Please take note the upcoming rate changes in various states.

Core States

The following core states have a pending rate change. New rates are not yet available in eLink; however, some renewing policies may be viewable in the renewal index. Please refrain from releasing quotes and renewals for these states until rates are updated.

Accommodation States

Please be sure to discuss pricing options for all new business and renewals with your business development consultant

The Agency Hall of Fame is recognition for those agencies that write the most new business each month. The acknowledgment, given to top agencies in each state, allows us to show appreciation to our agent partners for their efforts.

Arkansas

• Brown – Hiller – Clark & Associates, Fort Smith
• Sims Insurance, Inc., Fayetteville

Georgia

• J. Smith Lanier & Co, Duluth
• Johnson & Bryan, Inc., Atlanta

Illinois

• Ralph Weiner & Associates, LLC, Wheeling
• Southpoint Insurance Agency Inc, Mokena

Indiana

• Gregory & Appel Insurance Agency, Indianapolis
• M.J. Schuetz Insurance Services, Inc., Indianapolis

Iowa

• Arthur J. Gallagher Risk Management Services, Davenport
• Miller, Fidler & Hinke Insurance Agency, Inc., Clive

Kansas

• Cretcher Heartland, LLC, Overland Park
• YouZoom Insurance Services, Inc., Overland Park

Maryland

• Consolidated Insurance Center, Inc., Owings Mills
• PSA Insurance, Inc., Hunt Valley

Michigan

• Capital Insurance Group, Bloomfield Hills
• Ralph C. Wilson Agency Inc., Southfield

Minnesota

• C O Brown Agency, Rochester
• The Christensen Group, Inc., Minnetonka

Missouri

• Connell Insurance, Inc., Branson
• Nixon & Lindstrom Insurance, Springfield

Nebraska

• N P Dodge Insurance Agency, Inc., Omaha

North Carolina

• Harold W. Wells & Son, Inc., Wilmington
• The Phoenix Company, Llc, Winston Salem

South Carolina

• Peoples Underwriters, Inc., Conway
• Scheetz Hogan Freeman & Phillips, Greenville

Tennessee

• Athens Insurance Agency, Athens
• Chappell, Smith & Associates, Inc., Franklin

Texas

• Pearl Insurance Group, LLC, Frisco
• The Insurance Man & Associates, Midland

Virginia

• LD&B Insurance & Financial Svcs, Harrisonburg
• Tabb Brockenbrough & Ragland, Richmond

Wisconsin

• Associated Financial Group, LLC, Kimberly
• Diversified Insurance Solutions, Brookfield

Legislative Update is a brief synopsis of relevant legislative activity currently taking place in Accident Fund core and accommodation states. For more details or further documentation on any of these legislative activities, contact your business development consultant.

Federal

U.S. Senators Charles E. Schumer (D-NY), Mark Kirk (R-Ill.), Dean Heller (R-Nev.) and Chris Murphy (D-Conn.) recently announced they have reached a bipartisan agreement on legislation that will reauthorize and extend the Terrorism Risk Insurance Act, better known as TRIA. House Financial Services Committee Chairman Hensarling has also communicated that TRIA will be his first order of business this spring. In March, AFHI Government Affairs )in coordination with the National Association of Mutual Insurance Carriers) went to Washington D.C. to promote TRIA reauthorization. Additionally, the Big I has also increased their efforts in D.C. We anticipate TRIA will receive Congressional debate this summer and remain hopeful the initiative is enacted.

State

Michigan

Firefighter cancer presumption legislation is receiving an increased amount of discussion/consideration in the Senate. SB 211/HB 5340 create a presumption that any cancer of the respiratory tract, bladder, skin, brain, kidney, blood, thyroid, testicular, prostate or lymph nodes contracted by a full-time firefighter of a fire department or public fire authority would be compensable under workers’ compensation. This bill excludes volunteer, part-time and on-call firefighters. Although debate is quietly taking place, neither the Senate nor the House have taken an official vote. The measure is similar to legislation proposed in previous legislative sessions.

Oklahoma

Recently, the Oklahoma Supreme Court unanimously upheld the constitutionality of a law changing the structure of CompSource, the longtime state-run workers’ compensation company. Last year, lawmakers voted to transform the business into the CompSource Mutual Insurance Company as a supposed privatization effort.

Under the law, CompSource’s board of directors can set rates without Insurance Department review, a benefit no other private company enjoys. Unlike other companies, CompSource doesn’t have to base its rates on loss-cost modifiers issued by the National Council on Compensation Insurance — another advantage. And, as a continued “insurer of last resort,” CompSource gets an exclusive federal tax break on its entire book of business, even though the residual market likely comprises less than half of its policies.

Wisconsin

After recent criticism regarding the composition of the Workers Compensation Advisory Council, the Department of Workforce Development Secretary, Reggie Newson, communicated he has no intention of altering the group. The council is comprised of five voting representatives from organized labor, five voting management representatives, three non-voting representatives from the insurance industry and one representative from the department. It also has liaison representatives for medical providers. The Secretary said that moving forward, the Department will continue take the concerns from all segments of the business community into account. AFHI will continue to monitor this situation and any potential amending of the Wisconsin agreed bill process.

Information in this report was sourced from Florida Insurance Council, NAMIC, WorkCompCentral, and NCCI

Disclaimer of Liability

This document is provided for informational purposes only and does not constitute legal advice. This information is subject to change. Every effort is made to provide accurate and complete information in Accident Fund Holding’s Legislative Update. However, Accident Fund Holdings makes no claims, promises or guarantees about the accuracy, completeness, or adequacy of the contents of the Update and expressly disclaims liability for errors and omissions in the contents of this newsletter.

At Accident Fund, we place great value on our partnerships with agents. One way we demonstrate our appreciation of this partnership is through our annual Incentive Trip Program. This year, a select group of agents who had outstanding performances in 2013 will enjoy a spectacular trip to Alaska and our top 2014 performers will join us on a Scottish escape.

We hope you’ll be motivated to build your performance in order to attend next year’s trip to Scotland, which takes place May 10-17, 2015. During our voyage, we will spend our nights in two of Europe’s most luxurious hotels and our days will be spent exploring stunning castles and celebrating the customs and traditions of this magnificent country.

We encourage you to visit our trip website at AccidentFundIncentives.com to learn more about this extraordinary trip. You can also view an informative (and very humorous) video for more details or download this convenient flier that outlines many of the trip’s highlights.

Here’s how to qualify for this year’s program:

President’s Club Qualifications

2014 Written Premium: $1,500,000
Premium Retention: 80% or greater
Cumulative Loss Ratio: 50% or less

Growth Qualifications

2014 increase over 2013: $250,000
Premium Retention: 80% or greater
Annual Loss Ratio: 50% or less

Agencies must have a minimum written premium of $500,000 to qualify for the growth qualification incentive trip.

First Year Club

2014 increase over 2013: $300,000
Annual Loss Ratio: 35% or less

An agency may qualify for two trips if they meet both President’s Club and the Growth Qualifications. Agencies that are currently on probation are ineligible.

Feel free to contact me and develop a plan to make qualifying for next year’s trip a reality. We hope to see you in Scotland!

Celebrating its 21st year, the Roy Westran Memorial Insurance Industry Scholarship Golf Outing will take place on Friday, Aug. 1, at Hawk Hollow Golf Course in Bath, Mich. Agents from across the country will join Accident Fund to help raise scholarship funds for students pursuing insurance industry-related degrees. The event also allows us to recognize and honor the work of the late Roy Westran, an individual committed to the advancement of our profession.

The Westran Memorial Scholarship, established in 1990, has awarded more than $775,000 to more than 460 students and helped to ensure the growth of our industry for years to come. We have plenty of room available on the green as well as several sponsorship opportunities. The four-person scramble will begin at 8 a.m. with a continental breakfast, followed by a shotgun start at 9:30 a.m. Lunch and an awards reception will follow in the afternoon. For more information, visit www.WestranScholarship.org. If you have questions, please contact Janelle Manolakoudis.

The Certified Authority on Workers’ Compensation program (CAWC) is a nationally recognized program that was established in partnership with Olivet College, a renowned leader in insurance education. The program offers a unique perspective on workers’ compensation, combining business acumen with other key subject areas for an innovative learning experience.

This designation has been specifically created for agents and producers to broaden their knowledge and strengthen the skills needed to successfully sell the benefits of workers’ compensation. The CAWC is a 20-hour program consisting of the following live classes:

• Alternative Work Comp Programs
• Claims and Return-to-Work
• Classification and Rating of Workers’ Compensation
• Ethics
• Experience Modification Factors
• Fraud
• Longshore and Harbor Workers’ Compensation Act (LHWCA)
• Loss Control
• Workers’ Compensation Fundamentals

The program is completed in a three-day training format that maximizes your time and gets you back into the field quickly. Following successful completion of the program, participants earn:

• The Certified Authority on Workers’ Compensation designation
• Up to 18 hours of continuing education credits
• Three hours of ethics credits

Upcoming Classes:

• June 17–19: Myrtle Beach, SC
• Aug. 5–7: Indianapolis, Ind.
• Aug. 12–14: Lansing, Mich.
• Oct. 14–16: Overland Park, Kan.

For more information or to register for an upcoming class, click here.