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.

South Carolina – Effective Nov. 1, 2014, Accident Fund is adopting NCCI’s 09/01/14 voluntary loss costs in South Carolina, with an overall average loss cost level decrease of 7.4%. We are also making a slight modification to our LCMs. New rates became available in our e-business system on June 16, 2014.

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

• Mark V. Williamson Co. Inc., Little Rock
• Walker Bros. Insurance, Inc., Springdale

Georgia

• Risk Innovations, LLC, Atlanta
• Seacrest Partners, Inc., Savannah

Illinois

• Lee/O’Keefe Insurance Agency, Inc., Springfield
• Southpoint Insurance Agency Inc, Mokena

Indiana

• Gibson Insurance Agency, Inc., South Bend
• Hall Marose Silveus LLC, Warsaw
• McGowan Insurance Group, Inc., Indianapolis

Iowa

• Holmes, Murphy & Associates, Inc., West Des Moines
• Millhiser Smith Agency, Inc., Cedar Rapids

Kansas

• Creative Planning Risk Svcs, Leawood
• Cretcher Heartland, LLC, Overland Park

Maryland

• Day Deadrick & Marshall, Inc., Beltsville
• Rosenkilde & Associates, Hunt Valley

Michigan

• CIA Financial Group Inc., Shelby Twp
• Hylant Group, Ann Arbor

Minnesota

• RJF, A Marsh & McLennan Agency LLC Company, Minneapolis
• The Christensen Group, Inc., Minnetonka

Missouri

• Nixon & Lindstrom Insurance, Springfield
• W. E. Walker – Lakenan, LLC, Cape Girardeau

Nebraska

• Marcotte Insurance Agency, Inc., Omaha
• UNICO Group, Inc., Lincoln

North Carolina

• Senn Dunn Insurance, High Point
• Sentinel Risk Advisors LLC, Raleigh

South Carolina

• BB&T Puckett Scheetz & Hogan, Myrtle Beach
• Wells Fargo Insurance Services USA Inc., Charleston

Tennessee

• Insight Risk Management, LLC, Cordova
• J. Smith Lanier & Co., Chattanooga

Texas

• F Swingle Collins & Associates, Dallas
• Highpoint Insurance Group, LLC, Houston

Virginia

• Ashcraft Associates Insurance Agency, Alexandria
• Nansemond Insurance Agency, Inc., Suffolk

Wisconsin

• Hub International Midwest Ltd., Sheboygan
• Johnson Insurance Services, Inc., Racine

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.

TRIA

The Senate passed its version of TRIA reauthorization with impressive bipartisan support of 94-4. AFHI is pleased, not only about the large bipartisan vote the bill received, but also that it was accomplished prior to summer recess. The bill had no significant changes through the amendment process and retains the following main provisions:

• Seven-year reauthorization
• $100 million event trigger
• Co-pay increase from 15% to 20%
• Mandatory recoupment level at $37.5 billion
• Changes phased in over five years

It was House leaderships intention to bring H.R. 4871 to the floor for a vote last week, but in canvassing lawmakers, it became clear the bill would not have the votes to pass as is. Financial Services Committee Chairman Jeb Hensarling has requested the bill be considered under a “closed rule” on the floor, which means no amendments would be offered or considered. The opposition in the House falls into two main groups — numerous Republicans and the entire Democratic caucus, who thought the changes to the program went too far. Those House Republicans opposing feel either the proposal does not go far enough, or that there should be no program at all.

With the prospects for passing the bill on the House floor under a closed rule unlikely, the path forward in the House is unclear. Staff on Capitol Hill has indicated that TRIA will likely not receive attention until September after Congress returns from August recess.

Moving forward, AFHI (in coordination with our federal lobbyists and industry trade partners) will engage in this political debate striving for some form of TRIA reauthorization prior to expiration.

National

The Obama administration is ramping up its attack on Americans’ abuse of prescription opioid painkillers and heroin with a $25.5 billion plan combining public health and criminal justice initiatives.

Over the past decade, there has been a rapid increase in the cost and quantity of medications directly dispensed from physician offices to individuals injured in work-related accidents. There is a clear link between poor outcomes in claims and physicians dispensing out of their office rather than a pharmacy. Wide-spread adoption of laws limiting the reimbursement of physician dispensed drugs across the country would reduce abuse, dependency, over-utilization, drug spend, and overall claim cost for industry and injured workers affected by this practice. AFHI (in coordination with industry trade partners) is creating a plan to initiate political awareness of the impact physician dispensing has on the work comp industry.

Michigan

The city of Detroit will be privatizing its workers’ compensation administration. The city spends $15 million a year, and hopes to save $3.6 million through the privatization. Due to un-finalized details, the city has yet to announce the new workers’ comp administrator.

North Carolina

In the state of North Carolina, the language in House Bill 369 that was intended to make illegal workers ineligible for workers’ compensation benefits was removed. The previous language in the bill was presumed harmful to workers by potentially giving businesses rewards for purposefully hiring illegal workers who could not receive benefits.

Captive Insurance Laws – The North Carolina Captive Insurance Act that made the state a captive domicile was amended on July 7, and has allowed nine captive insurers and 20 captive managers to work within the state. The amended law is expected to encourage captive expansion in North Carolina, providing business opportunity and economic growth.

Next year we hope you’ll join other successful agents who earn a spot on our annual incentive trip. Top performers in 2014 will experience one of our most exciting trips yet – a six-night, seven-day journey to legendary Scotland from May 10 – 17, 2015. Here’s how you can qualify for next year’s program:

An agency may qualify for two trips by meeting both President’s Club and the growth qualifications (agencies that are currently on probation are ineligible). Feel free to contact me to see how we can make next year’s trip a reality for your agency. Also be sure to visit our trip website at AccidentFundIncentives.com to learn more and watch for the monthly incentive trip updates in your email.

Agencies must have a minimum written premium of $500,000 to qualify.

Time is running out to register for the Roy Westran Memorial Insurance Industry Scholarship Golf Outing on Friday, Aug. 1, at Hawk Hollow Golf Course in Bath, Mich. Celebrating its 21st anniversary, the annual golf outing welcomes agents from across the country to help Accident Fund raise scholarship funds for students pursuing insurance-related degrees.

The event also honors the work of the late Roy Westran, an individual committed to the advancement of our profession. Established in 1990, the Westran Memorial Scholarship has awarded more than $775,000 to 460 students and has helped to ensure the growth of our industry.

Spaces for foursomes are still available for $700. Non-golf sponsorships are also available, including $500 options on the driving range or practice putting area, or a $1,000 lunch or beverage sponsorship. 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 WestranScholarship.org or contact Janelle Manolakoudis.

Accident Fund is using the social media space to provide a greater connection to value-added services, training, industry news and much more. Here’s a quick review of our social channels:

While these sites won’t replace any of the ways we currently communicate with you (e.g.,NewsLink, Agent Alerts, email), social media is just another way to conveniently learn more about and connect with Accident Fund.