RLI Umbrella – A Smart Choice!

September 16th, 2011

TAKE ANOTHER LOOK AT THE RLI PERSONAL UMBRELLA!
See how you can write more business
with an admitted, secure, A+ rated carrier

A smart choice for your customer
Today’s legal environment calls for extra protection for almost all your clients. Ask every new and current customer about Personal Umbrella coverage.

The RLI Personal Umbrella Policy …
Financial stability and responsible underwriting are the foundations of this program that has been consistently available for over 25 years.
• Up to $5 million in additional insurance
• $1 million Excess UM/UIM available
• Expanded underwriting – more acceptability
• No underlying carrier information required
• Immediate availability & very affordable

A smart choice for your agency
By making customers aware of these important extra layers of protection, you won’t have to answer the E & O question – “If extra coverage was available, why didn’t you offer it to your client before this accident?”

Contact us here at FAIA Member Services today and let us help.

RLI Senior Account Manager
(Clients with last names A-K)
Lynn White 850-893-4155, ext. 322
Email: lwhite@faia.com

RLI Account Manager
(Clients with last names L-Z)
Candis Adams 850-893-4155, ext. 359
Email: cadams@faia.com

E&O Coverage Claims: Don’t Believe the Hype

September 1st, 2011

It seems agency owners are being solicited more than ever for the placement of their Errors and Omissions insurance.  The marketing tactics are often very aggressive and include outlandish statements that promise the world in terms of coverage, claims defense, and most notably, price. Times like this call to mind the old adage, “if it looks too good to be true, it probably is.”

Comprehensive E&O insurance is a critical part of any agency’s operation, because essentially, the policy equates to claims defense. Just one denied claim can potentially bankrupt an agency, particularly when coverage is expected and no alternatives are in place. FAIA Member Services has been offering comprehensive E&O coverage available for more than 30 years—we know this insurance landscape better than our competitors because our program is agent maintained.

Many of today’s competitors, particularly those in the non-admitted market, attempt to liken their coverage to FAIA Member Services’ program by offering difference-in-conditions endorsements. Simply putting words on paper, however, does not make that coverage equal. If you want to test the non-admitted market and get side-by-side comparisons of the policy forms—let us know! FAIA Member Services has access to the same non-admitted carriers as offered by the competition. We’d be happy to detail the differences in coverage and answer your questions. Remember: FMS is a subsidiary of YOUR association; it’s part of our mission to look out for your best interest.

FAIA Member Services E&O program was born from agents’ need to cover their own professional liability exposures and has become the standard by which all others are compared. We have ample experience paying claims for all the coverage afforded, and most importantly, the sustainability of the association’s program that can be relied upon even when the market becomes distressed.

Don’t risk your agency’s future by purchasing an E&O policy that promises the world today, but could be gone tomorrow. Trust your association to look out for all of your agencies’ professional liability needs and take comfort in knowing that you are insured with the very best.

RLI eXS Commercial Expanded Coverage

July 28th, 2011

RLI has expanded coverage on the eXS Commerical program:

Maximum receipts have been increased from $10 million to $12.5 million on new business and from $12 million to $15 million on renewals

Maximum power units have been increased from 10 to 15 on both new & renewal business 

The Uninsured Subcontractor Exclusion has been eliminated as a required form for contractors

Added class 91583 as an eligible code (to allow for GCs handling residential remodeling projects)

These enhancements are available now for quoting both new and renewal business with effective dates of 07/20/11 or later.  Send Acord 125 and Acord 131 forms to Lynn White at lwhite@faia.com or Candis Adams at cadams@faia.com for a quote.

RLI’s eXS  Liability is an excess policy that can be written over existing general liability, auto liability and employers’ liability policies for small businesses  Liability limits range from $1 to $5 million and the program provides coverage to over 300 classes of business, including commercial and industrial contractors, lessor’s risk, condo associations, restaurants, retail stores, mobile home parks, etc.

 Go to our Member Services website at faiams.com for a complete Hazard Guide listing.

FAIA Member Services Announces Two New Partners!

July 27th, 2011

FMS is pleased to announce that we have added two new partners to our agent offering – Cypress P&C – Homeowners (3, 4 & 6), Dwelling Fire & Artisan General Liability Programs & Ovation Payroll Services.  In our continuing effort to supply top quality carriers to our member agents both Cypress and Ovation Payroll have stepped forward to partner with us to offer their services.

Cypress Property and Casualty Insurance Company has successfully provided its partner agents and policyholders a broad array of competitively priced products designed to meet the unique needs of the Florida marketplace. Cypress’s strategy has remained consistent – offering solutions to the ever-changing Florida personal lines and small commercial markets.

Its quoting platform is designed for ease of use and facilitates agents and CSRs service to their customers. Most importantly, Cypress delivers a claims model that engages the insured and agent throughout the process, providing prompt and fair resolution.

Cypress has a strong financial base; developed through careful risk management ensuring adequate resources are there to protect all of their policyholders should the need arise. They currently maintain one of the lowest premiums to surplus ratios in the Florida market. Cypress has appointed FMS as its agent: FAIA members needing a market for homeowners, dwelling fire or artisan general liability can be appointed as sub-agents.

Cypress Property and Casualty Insurance Company is a Florida-domiciled company headquartered in Jacksonville. They carry rating of “A” Unsurpassed by Demotech, Inc., only one of 4 carriers earning Demotech’s highest rating. You can learn more about this company by visiting their website: www.cypressig.com.

Ovation Payroll Services understands that other companies are setting aggressive goals to gain big market share in all insurance and benefit lines—health insurance, Workers Compensation and 401k plans. In other words, they want your business, and they’ll do just about anything to get it.

But Ovation is different. They won’t go after your clients, because they play well with everyone. (OK, everyone except other payroll companies.) They’refriends with trusted advisors (like you).

If you’re a health insurance agency, Ovation can:

  • Automatically send HSA payments to the appropriate accounts on payday.
  • Protect your book of business by agreeing not to offer competitive services to your clients.

If you’re a property and casualty agency, Ovation can:

  • Offer an integrated “pay-as-you-go” solution for your clients, through select general agencies and carriers.
  • Protect your book of business by agreeing not to offer competitive services to your clients.

Partnering with Ovation also makes you more competitive, because you can offer our full line of services to your clients. It also offers you another revenue stream and co-branding channels to sell more of your services.

For more information please visit our website at www.faiams.com or contact Kasi Green 850-893-4155 ext. 351

RLI at FAIAConvention

May 12th, 2011

Are you taking advantage of all of the programs RLI offers through FAIA?  RLI is an A. M. Best A+ rated carrier.  FAIA offers the following RLI opportunities: 

Personal Umbrella Program – Offers up to $5 million in additional coverage.  RLI will write over any underlying carrier.  No age limits on drivers.  Provides coverage in all 50 states, plus D.C. and Canada.  PUP Special broadens coverage to allow more properties and vehicles, driving incidents for drivers 20-21, properties outside the U.S.

In-Home Business Program – Most homeowners or renters policies do not cover liability or damage to property from business activities in the home.  RLI offers liability limits up to $1 million, business personal property up to $50,000, optional coverages for money and securities, electronic data processing, loss of income.

eXS Commercial – RLI’s eXS  Liability is an excess policy that can be written over existing general liability, auto liability and employers’ liability policies for small businesses generating up to $10 million in receipts.  Liability limits range from $1 to $5 million and provides coverage to over 300 classes of business, including commercial and industrial contractors, lessor’s risk, condo associations, restaurants, retail stores, mobile home parks, etc.

Visit the RLI booth at FAIA’s 107th Anniversary Convention—June 9–11, 2011; Rosen Shingle Creek Resort & Golf Club, Orlando for more information on all of the RLI programs.

Bankers Insurance Group Annoucement

May 10th, 2011

Bankers Insurance Group has annouced a recent program change that will affect homeowners buisnes in several Florida counties. As you may know, recent changes in industry catastrophe modeling software could have a major impact on the Probable Maximum Loss (PML) for all carriers. Increased PML requires the purchase of additional reinsurance to maintain carriers ratings with A.M. Best. Bankers commitment to their Florida policyholders and their agents is to maintain a solid, financially secure company in this difficult marketplace. While they take some time to assess what effects these modeling changes are going to have on their portfolio, they are restricting all new homeowners business in the counties that are already nearing our maximum capacity caps, including:

Marion, Lake, Orange, Osceola and Seminole

Counties that are already closed included:

Broward, Charlotte, Citrus, Collier, Dade, Escambia, Hernando, Hillsborough, Lee, Okaloosa, Palm Beach, Pasco, Polk, Santa Rosa and Sarasota

Any business already quoted will be honored as long as the application is fully loaded (including any necessary underwriter approvals) no later than 5/20/2011.

We will keep membership posted as to any updates to this annoucement.

BANKERS INSURANCE GROUP – NOTICE OF PROGRAM CHANGE

May 2nd, 2011

First Community Insurance Company has received approval from the Office of Insurance Regulation (OIR) for a rate and rule change to our Homeowners program.

Territories: Now determined by ZIP code

The system will assign the territory, which means your agency no longer has to figure out which territory to select.

Dwelling Premises – Maximum Acres

Dwelling must be located on five (5) acres or less

Homeowners Base Rate

Statewide average of 21.1% rate increase

The rate change indicated above is a state-wide average. Each policy will be affected differently; the exact dollar amount of the impact is explained on the Consumer Information Notice located on the back of the Assessment Fee Detail Notice, which is sent to every policyholder.

Dog Liability

Every Homeowners policy currently includes a $25,000 sublimit for dog liability. We have taken the cost for this coverage out of our base rates. Dog Liability will now be shown as a separate coverage. In the very near future dog liability will be an optional coverage. We have submitted a separate dog liability form to the FL OIR for approval. In the interim, Renewal policies and New Business quotes will continue to include dog liability coverage. Once our form is approved, the policyholder will have the option to remove or add dog liability.

Coverage C – Personal Property Change

Due to rising inflation over the years and increases in Coverage A, we have found that most people do not require 50% of Coverage A for Contents coverage. With that in mind, we have made the decision to renew all policies with Contents coverage at 30% of Coverage A, provided the policy currently has the standard limit of 50%. The premium credit for this reduction in coverage will be applied automatically.

A Notice to Policyholder will be sent to the insured explaining this change and the option to increase up to 70%, if they indeed require that amount of coverage. In addition, New Business quotes will now default to a limit of 30%, but can be increased if more coverage is needed. Existing quotes with Contents coverage at 50% will not be impacted unless Coverage A is altered. Changes to Coverage A in the quote will cause Contents coverage to recalculate to the new 30% default. You will have the option to increase as necessary.

We hope that these changes will help the policyholder with rising costs in a tough economy, and strengthen our partnership by maintaining a sound book of business.

If you have any questions, please feel welcome to contact your territory underwriter.

Effective:

New Business: May 23, 2011

Renewals: June 12, 20111

Customer Service: 800.627.0000, ext. 4703

As always – we appreciate your business!

First Community Insurance Company | Bankers Insurance Company

11101 Roosevelt Blvd N, St. Petersburg, FL 33716 | Toll-free: 800.627.0000

www.bankersinsurance.com

Tornado Preparedness Checklist for Your Agency From Agility Recovery

April 28th, 2011

Over the past week, 15 states were hit by severe tornadoes. All told, 240 tornadoes were reported and 43 people lost their lives.

The economic impact on the business community has yet to be determined, but one thing is certain, those businesses with a continuity and disaster recovery plan in place are the key to recovery for some of the hardest hit areas.

The following checklist will help mitigate the risk to your agency, and help protect your most important asset – your people.

Click to download.

If you have additional questions, or for information about Agility Recovery, please call 866.364.9696 or visit agilityrecovery.com.

Mitigating Risk with Business Continuity – An Insurance Agent’s Guide to Disaster Recovery

March 22nd, 2011

Join FAIA Member Services Endorsed Partner – Agility Recovery  - for a free Webinar on April 5

Space is limited.

Reserve your Webinar Seat Now at:
https://www1.gotomeeting.com/register/405929960

There’s no such thing as a minor disruption. Any event that prevents work from happening can be catastrophic for an insurance agency. The reality is disasters happen every day. Too often, businesses hit with a crisis close for good because they’re unable to respond quickly and effectively. Whether it’s a broken water pipe, a building fire, or a hurricane; disasters can have crippling effects on your agency.

Can agents really be prepared for such events? The answer is yes.

Join Agility Recovery CEO Bob Boyd as he discusses the many risks facing insurance agencies today, from natural disasters to isolated events, and steps agents can take to mitigate these risks while preparing them for the unthinkable.

After registering you will receive a confirmation email containing information about joining the Webinar.

System Requirements
PC-based attendees
Required: Windows® 7, Vista, XP or 2003 Server

Macintosh®-based attendees
Required: Mac OS® X 10.4.11 (Tiger®) or newer

United P&C ZIP CODE CLOSINGS

March 22nd, 2011

The following zip code changes will be effective Monday, March 28. The programming changes will be implemented on Monday evening, 3/28/11 at 7 PM. Therefore, these changes will be live in the system when you come to work on Tuesday morning, March 29. The following zip codes are being closed for all business:

Closed – ALL Business

Marion – Entire County – All Zips

Hillsborough
33511
33547
33565
33566
33567
33584
33592
33604
33607
33610
33611
33619
33626

Polk

33805
33809
33810
33813
33823
333841
33849
33859
33881
33884

Pinellas

33761
34677
34681
34685
34688

Orange

32712
32808

Seminole

32746
32750