Agent News

Q1 2019

New Business Incentive Program – Extended through Dec. 31, 2019!

Earn more on your new business! Send us new business and we’ll give you a 2% bonus commission on all new accounts issued under $200,000 in premium, no exclusions!

To incentivize you even further, we’ve extended the program to run through Dec. 31, 2019! Our new business incentive could equate to 29% more revenue for your agency.

Contact your business development consultant to discuss how you can maximize the benefits.

Annual Agent Meetings Recap

We were thrilled to see so many of you at our recent Annual Agent Meetings. We greatly value the time we’re able to spend with our agency partners and appreciate you making the effort to join us.

As discussed at the meetings, Accident Fund had another record year. We exceeded all our targets by a significant margin as you’ll see below.

  2018 Plan 2018 Actual
Written premium $775.7M $859M
New business $159.6M $188M
Premium retention 86% 89%
CY combined ratio 87.8% 81%
Underwriting gain $92.9M $150M

We realize these remarkable results couldn’t have been achieved without our strong agency partnerships and we were glad to share in our success through profit sharing. Accident Fund continues to pay out record profit sharing year after year…and 2018 was no different as we paid agents $35.4 million, up $2.2 million, with 51% of our agents receiving a check.

Because our payout incentive is based on a three-year plan, we encourage you to retain your Accident Fund business so you’ll have our two most profitable years on record going into 2019!

If you missed the meetings, or would like to share the presentation with your team, the PowerPoints are available on our Agent website under ‘Agent Meeting Materials.’ To access the overview flyer we provided, click here.

Congratulations to Our 2018 President’s Club Recipients

In qualifying for Accident Fund’s President’s Club, the following agents contributed to our overall success in 2018 by helping us grow and retain profitable business. Thanks to their dedication and commitment to promoting our value to customers, they achieved very impressive results for Accident Fund. We appreciate their ongoing support, continued feedback and valued insight into the individual needs of their clients.

President’s Club qualifications for 2018 included written premium exceeding $2 million, a five-year cumulative loss ratio of 50% or less, and premium retention of 82% or higher. We are proud to honor these agencies:

  • Allied Insurance Managers, Inc.
  • Arthur J. Gallagher Risk Management Services, Inc.
  • Athens Insurance Agency
  • BHS Insurance
  • Brown & Brown of Detroit
  • Brown & Brown of Michigan
  • Brown & Brown of SC
  • Buiten & Associates, LLC
  • BXS Insurance
  • Capital Insurance Group
  • Commercial Risk Management
  • Consolidated Insurance + Risk Management
  • Correll Insurance Group
  • David Chapman Agency
  • Diebold Insurance Agency
  • Doeren Mayhew Insurance Group
  • Doyle & Ogden, Inc.
  • Fee Insurance Group
  • General Agency Company
  • Georgetown Insurance Services, Inc.
  • Gompers, Cornish & Barr
  • Harold W. Wells & Son, Inc.
  • HUB International Midwest Limited
  • Hylant Group
  • Ieuter Insurance Group
  • IMAGE of Wisconsin
  • InPro Insurance Group
  • ISU Insurance Services
  • A. Price Agency
  • Smith Lanier & Co., a Marsh & McLennan Agency LLC company
  • Johnson Insurance Services
  • Kapnick Insurance Group
  • Lighthouse Group
  • Lipscomb & Pitts Insurance
  • Lowry & Associates, Inc.
  • Marsh & McLennan Agency
  • McGriff Insurance Services
  • Michigan Community Insurance Agency, Inc.
  • Mid Atlantic Insurance Group
  • Missouri General Insurance Agency
  • Mountain Empire Agency Alliance
  • Oakland Companies
  • Peabody Insurance Agency
  • Ralph C. Wilson Agency, Inc.
  • Relation Insurance Services of North Carolina, Inc.
  • RT Specialty
  • Saginaw Bay Underwriters
  • Scheetz, Hogan, Freeman & Phillips
  • Shared Agency Services of MS
  • Southern Risk and AssuredPartners Company
  • Sterling Insurance Group
  • Sunstar Insurance Group
  • The Huttenlocher Group
  • The Reilly Company
  • Towne Insurance
  • TriSure Corporation
  • TrueNorth Companies, L.C.
  • Turbeville Insurance Agency
  • UNICO Group
  • Unland Co.
  • Van Wyk Risk Solutions
  • VTC Insurance Group
  • Watson Insurance Agency
  • Wyatt Insurance Services
  • Yates Insurance
2019 Incentive Trip Program – Tenerife, Canary Islands

In 2020, trip earners will join us in spectacular Tenerife! As the largest of the seven Spanish Canary Islands, Tenerife has it all — stunning coastlines, panoramic island views from atop Mount Teide, whale watching, wineries, canyons and caves, amazing food, shopping and more. With almost guaranteed sunshine all year, the weather is the number one reason people flock to Tenerife’s shores.

While there, our guests will stay at the Ritz Carlton Abama Resort — a five-star resort with a prized ocean view, Michelin-starred restaurants and a renowned golf course. Guests will also be invited to relax at the luxury resort spa, which uses locally developed ingredients with tailored massage techniques and holistic therapies.

When not relaxing at the spa, swimming in one of the seven pools, or enjoying the 18-hole championship course, guests will be invited to join in various activities, including:

  • Excursion to Mt. Teide National Park
  • Catamaran cruise with whale watching
  • Kayak and snorkeling adventure
  • Jet ski safari

Each night we will enjoy group dinners at some of the best restaurants on the island.

Click here to access the website for qualifications, rules and more information about this incredible destination, including photos and our new videos.

We want to see you earn a spot on this incredible trip — so be sure to work with your business development consultant to develop a plan to get you there!

Loss Control Webinar Series and New Technical Services Resource

New this year, members of Accident Fund’s Loss Control team will be offering a series of short training sessions that provide customers with safety tips and tools to help prevent workplace accidents and injuries. There will be six opportunities available with various topics, such as:

  • Loss Control Toolbox Intro
  • Making Safety Successful
  • Leading Loss Sources in the Trucking Industry
  • Slip and Fall Elimination (S.A.F.E.)

Please feel free to attend any or all of our sessions and encourage your Accident Fund customers to do the same. Click here to register today!

Also created recently was a Loss Control Technical Services resource for answering safety and loss control-related questions. An email and phone number are now available to agents and policyholders needing assistance with safety resources and services provided by our Loss Control team. Please share this information with your Accident Fund customers so they can begin taking advantage of this new service.

Hall of Fame

Arkansas

Meadors, Adams & Lee, Inc., Little Rock

NFP Property & Casualty Services, Inc, Benton

 

Georgia

The Norton Agency, Gainesville

Turner, Wood & Smith Insurance, Gainesville

 

Illinois

Arthur J. Gallagher RMS Inc, Decatur

Hub International Midwest Limited, Chicago

 

Indiana

Gibson Insurance Agency, Inc., South Bend

McGriff Insurance Services Inc., Kokomo

 

Iowa

Arthur J. Gallagher Risk Management Services, Davenport

Mid – Iowa Insurance Associates, Carroll

 

Kansas

Creative Planning Property & Casualty LLC, Overland Park

Eils & Associates Insurance Group, Prairie Village

 

Kentucky

Chas. M. Moore Insurance Agency Inc., Bowling Green

Peel & Holland Inc, Benton

 

Louisiana

BXS Insurance Inc., Baton Rouge

Stiel Insurance of Acadiana Inc, Lafayette

 

Maryland

Diversified Insurance Industries Inc., Hunt Valley

Insurance Exchange Inc., Rockville

 

Michigan

InPro Insurance Group, Inc., Troy

Olivier VanDyk Insurance Agency, Wyoming

 

 

Minnesota

Arthur J. Gallagher Risk Management Services Inc., Bloomington

Maguire Agency Inc, Roseville

 

Mississippi         

Bottrell Insurance, Jackson

Hub International Gulf South, Ridgeland

 

Missouri

  1. M. Peters Agency, Liberty

SRA Insurance Agency LLC, Kansas City

 

Nebraska

The Harry A. Koch Co., Omaha

UNICO Group, Inc., Lincoln

 

North Carolina

Business Insurers of the Carolinas Inc, Chapel Hill

Pelnik Insurance of Cary NC, Inc., Cary

 

Oklahoma

Arthur J. Gallagher RMS Inc, Oklahoma City

Rich & Cartmill Inc., Tulsa

 

South Carolina

Palmetto Insurance Associates LLC of Anderson, Anderson

Turbeville Insurance Agency, Inc., Columbia

 

South Dakota

Black Hills Insurance Agency Inc., Rapid City

Howalt McDowell Ins, a Marsh & McLennan Agcy LLC Co, Sioux Falls

 

Tennessee

Commercial Insurance Associates LLC, Brentwood

Inter – Agency Insurance Service, Inc., Knoxville

Lipscomb & Pitts Insurance, LLC, Memphis

 

Texas

Insgroup, Inc., Houston

MHBT, a Marsh & McLennan Agency LLC, Company, Dallas

 

Virginia

Foundation Insurance Group Inc, Falls Church

MidAtlantic Insurance Group LLC, Richmond

 

Wisconsin

R & R Insurance Services, Inc., Waukesha

Starr Insurance Group Ltd, Greenfield

Class Codes

Arkansas

8380   Automobile Service or Repair Center & Drivers

8868   College: Professional Employees & Clerical

7228   Local Trucking

8044   Store: Furniture & Drivers

 

Georgia

8835   Nursing-Home Health, Public and Traveling-All Employees

7219   Trucking: NOC-All Employees & Drivers

 

 

Illinois

8380   Automobile Service or Repair Center & Drivers

8835   Nursing-Home Health, Public and Traveling-All Employees

 

Indiana

8868   College: Professional Employees & Clerical

9082   Restaurant NOC

 

Iowa

4034   Concrete Products Mfg & Drivers

3635   Gear Mfg or Grinding

4683   Oil Mfg-Vegetable-NOC

8832   Physician & Clerical

4484   Plastics Manufacturing: Molded Products NOC

 

Kansas

5645   Carpentry-Detached One- or Two-Family Dwellings

5190   Electrical Wiring-Within Buildings & Drivers

0005   Farm: Nursery Employees & Drivers

8006   Store: Grocery Retail, Includes Rural General Stores

5348   Tile, Stone, Mosaic or Terrazzo Work-Inside

 

Kentucky

8380   Automobile Service or Repair Center & Drivers

8835   Nursing-Home Health, Public and Traveling-All Employees

 

Louisiana

5537   Heating, Ventilation, Air-Conditioning and Refrigeration

7230   Trucking: Parcel or Package Delivery-All Employees & Drivers

 

Maryland

8842   Group Homes, All Employees, Salespersons & Drivers

8835   Nursing-Home Health, Public and Traveling-All Employees

 

Michigan

8395   Automobile Repairs Facility

7202   Drivers Mail, Parcel or Package Delivery

9058   Hotel: Restaurant Employees

 

Minnesota

5645   Carpentry-Detached One- or Two-Family Dwellings

8868   College: Professional Employees & Clerical

8824   Retirement Living Centers: Health Care Employees

8033   Store: Meat, Grocery and Provision Stores Combined-Retail NOC

7231   Trucking: Mail, Parcel or Package Delivery-All Employees & Drivers

 

Mississippi

8829   Convalescent or Nursing Home-All Employees

7231   Trucking: Mail, Parcel or Package Delivery-All Employees & Drivers

 

Missouri

5645   Carpentry-Detached One- or Two-Family Dwellings

9082   Restaurant NOC

8293   Storage Warehouse-Furniture & Drivers

7231   Trucking: Mail, Parcel or Package Delivery-All Employees & Drivers

5445   Wallboard Installation Within Buildings & Drivers

 

Nebraska             

8380   Automobile Service or Repair Center & Drivers

2585   Laundry NOC

8835   Nursing-Home Health, Public and Traveling-All Employees

8044   Store: Furniture & Drivers

8021   Store: Meat, Fish or Poultry Dealer-Wholesale

North Carolina

8380   Automobile Service or Repair Center & Drivers

9060   Club-Country, Golf, Fishing or Yacht-& Clerical

6217   Excavation & Drivers

8835   Nursing-Home Health, Public and Traveling-All Employees

5183   Plumbing NOC & Drivers

 

Oklahoma

5188   Automatic Sprinkler Installation & Drivers

5190   Electrical Wiring-Within Buildings & Drivers

9052   Hotel: All Other Employees & Salespersons, Drivers

3030   Iron or Steel: Fabrication: Iron or Steel Works-Shop-Structural-& Drivers

7231   Trucking: Mail, Parcel or Package Delivery-All Employees & Drivers

 

South Carolina

8380   Automobile Service or Repair Center & Drivers

5190   Electrical Wiring-Within Buildings & Drivers

6217   Excavation & Drivers

5537   Heating, Ventilation, Air-Conditioning and Refrigeration

 

South Dakota

9015   Buildings-Operation-By Owner, Lessee, or Real Estate Management Firm: All Other Employees

8810   Clerical Office Employees NOC

9052   Hotel: All Other Employees & Salespersons, Drivers

8010   Store: Hardware

8013   Store: Jewelry

 

Tennessee          

9014   Buildings-Operation by Contractors

9083   Restaurant: Fast Food

7231   Trucking: Mail, Parcel or Package Delivery-All Employees & Drivers

7219   Trucking: NOC-All Employees & Drivers

 

Texas

7380   Drivers, Chauffeurs & Their Helpers NOC-Commercial

6217   Excavation & Drivers

8292   Storage Warehouse NOC

8018   Store: Wholesale NOC

7230   Trucking: Parcel or Package Delivery-All Employees & Drivers

 

Virginia

8835   Nursing-Home Health, Public and Traveling-All Employees

5474   Painting or Paperhanging NOC & Shop Operations, Drivers

5445   Wallboard Installation Within Buildings & Drivers

 

Wisconsin

5190   Electrical Wiring-Within Buildings & Drivers

9082       Restaurant NOC

Rate Changes

Pending Rate Changes

              

The following states have a pending rate change for Accident Fund. 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.  Please check our website for updates.

 

State PROPOSED NCCI/Bureau Impact Effective   Date
Arizona -7.9% 01/01/19
Arkansas N/A 07/01/19
Georgia -8.9% 07/01/19
Massachusetts N/A 07/01/19
Montana -17.2% 07/01/19
North Carolina -15.9% 04/01/19
Rhode Island -7.7% 08/01/19
South Carolina -9.2% 04/01/19
South Dakota -11.9% 07/01/19
Texas -12.4% 07/01/19
Virginia -2.6% 04/01/19

 

 

New Rates Now Available in eLink

 

Updated rates are now accessible in eLink for the following states:

 

State NCCI/Bureau Impact Effective Date Available in eLink as of:
Alabama -6.4% 03/01/19 12/21/18
Alaska -14.8% 01/01/19 12/14/18
Florida -13.8% 01/01/19 12/14/18
Hawaii +4.7% 01/01/19 12/14/18
Illinois -9.1% 01/01/19 12/21/18
Louisiana -5.6% 05/01/19 03/01/19
Maine -7.5% 04/01/19 03/01/19
Mississippi -10.7% 04/01/19 02/22/19
Nebraska -8.1% 02/01/19 12/21/18
Nevada -8.1% 03/01/19 12/14/18
New Jersey -5.3% 01/01/19 12/14/18
Pennsylvania -9.8% 04/01/19 01/25/19
Tennessee -19.0% 03/01/19 02/08/19
Vermont -5.1% 04/01/19 02/22/19

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

Legislative Updates

Federal

The insurance industry has started initial lobbying efforts in Washington to extend the terrorism risk insurance program, which expires at the end of 2020. The program was created after the attacks on Sept. 11, 2001, when carriers suffered excessive losses and eventually highly populated commercial areas across the Nation were unable to secure coverage. In an effort to maintain market stability, AF Group will work with Congressional leaders over the next 18 months in support of a timely renewal.

Florida

The Florida Legislature is considering two bills, SB 1636 and HB 1399, that address workers’ compensation. SB 1636, proposes reasonable fixes for the Florida Supreme Court’s adverse decisions a few years ago that invalidated both the statutory contingent attorney fee provision (Castellanos) and the 104-week limitation on temporary total disability (Westphal).  The Senate proposal seems the preferable approach as an overall reform vehicle, although H.B. 1399 does have one favorable provision that is lacking in S.B. 1636, as it would tie outpatient hospital reimbursement to Medicare, in lieu of the current charge-based approach. We anticipate some form of merged compromise to occur between the Senate and House proposals.

Maryland

SB 854 would require carriers to provide injured workers with medical cannabis, which would be characterized as “medicine”; and require compensability even where an accident is solely caused by medical cannabis, if it was administered or taken in accordance with a physician’s written certification and instructions.  In general, the industry opposes mandatory marijuana reimbursement under workers’ compensation system, based on both the federal illegality of cannabis and the lack of sufficient objective medical evidence of its efficacy in treating workplace injuries.  We are aware that some insurers want the discretion to recommend or treat with marijuana when it appears in a case to be a suitable alternative to opioids. The bill now awaits consideration by the House Economic Matters Committee.

California

The industry is closely monitoring Senate Bill 567, which establishes various presumptions for hospital employees.  According to the proposal infectious diseases, cancer, musculoskeletal injuries, post-traumatic stress disorder, and respiratory diseases; would be presumed work related injuries for hospital employees. The future of this initiative is unclear at this time.

Illinois

As previously communicated, enacted Senate Bill 1737, requires carriers to send employer and agency premium increase notifications on all Illinois policies issued or renewed on or after January 1, 2019 that have premium in excess of 5% of the rate recommendation filed with the Department. The industry had previously been misadvised this provision applied to all Jan. 1, 2020 new business. AF Group has invested in system changes and created new processes/procedures in an effort to ensure compliance and timely communication with all stakeholders when notification are required.

South Carolina

The South Carolina Workers’ Compensation Commission approved the 2019 Medical Services Provider Manual (MSPM) with changes taking effect April 1, 2019.  The summary of the changes can be found by clicking here.

If you have any questions, email us at MarketingInfo@accidentfund.com!