RI CPCU SCHOLARSHIP FUND SEEKING SUPPORT & APPLICATIONSEach year the Rhode Island CPCU Scholarship Fund asks for support of the scholarship that supports insurance industry employees and their immediate families as they pursue education. Mark Male has served on the scholarship selection committee for 10 years and can attest to the opportunity for independent agent

employees and immediate families to receive scholarships.

Last year scholarships ranging from $2,500 to $4,000 were awarded to numerous individuals. Members are encouraged to complete and submit an application. A link is provided below to access the application.

Deadline for application submission is April 15. Good luck!Click here for the application

www.iiari.com

In This Issue

NewsbriefsThe Independent Insurance Agents of Rhode Island Newsletter

February 15, 2017

2400 Post Road, Warwick, RI 02886 | (T) 401.732.2400 | (F) 401.732.1708

RI CPCU Scholarship Fund

Insurance Commentary Blog

2017 Trusted Choice Campaign

Government Affairs Committee

Second Call for Involvement Surveys

116th Annual Convention

IIARI PAC

Mark Your Calendars

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INSURANCE COMMENTARY BLOG

POST: “THE DANGER OF AUTO POLICY LAY-UP

ENDORSEMENTS”

This is the time of year when Northern “snowbirds” winter in their southern abodes. As a result, they may want to temporarily discontinue all or some coverage on the autos they garage up north. Someone may also have an auto they’re doing a major rebuild on and want to suspend all or some coverage. In commercial lines, some insureds may want to store certain vehicles for the season and, since they’re limited to sitting on a premises for months, cover the liability under the CGL policy and drop collision under the auto coverage.

ISO has BAP suspension and reinstatement endorsements (CA 02 40 and CA 02 38, respectively.) ISO does not have PAP endorsements for this, but many carriers have their own forms. Should these endorsements be used?

You can also count on some insureds forgetting to call for reinstatement. You can count on there being an unseasonably warm day when an insured is tempted to take the vehicle out for a spin.

Or, as in one real claim, you can have an insured who decides to do a little work on the vehicle, it catches on fire, burns up the vehicle (and garage/house), and the fire spreads to cause five-figure (or more) damage to the house next door.

Or someone steals the Corvette convertible during the lay-up period, kills someone, and the

insured is sued.

NEVER suspend the liabilitycoverage on an auto policy. What you save by suspending the collision coverage for a few months is peanuts compared to the potential for damage (especially if comp is

also suspended). That’s my story and I’m sticking to it.

Written by Bill Wilson and taken from his website blog, www.InsuranceCommentary.com.

““... you can have an insured who decides to do a little work on the vehicle, it catches on fire, burns up the vehicle (and

garage/house), and the fire spreads to cause five-figure (or more) damage to the house next door

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For over a decade, the Rhode Island Trusted Choice® branding campaign has invested over $2.5 million into brand awareness on RI broadcast television, cable television, and radio. Each year dozens of IIARI member agencies enroll in the campaign that extends agency advertising dollars through support raised directly from Trusted Choice® companies, IIARI, and the Trusted Choice® grant program.

The 2017 campaign has some minor tweaks this year. There remain three levels of participation to choose: Gold, Silver and Bronze. Agency investment remains the same as well: $5,000, $2,500 and $1,250. However, this year the package offerings have been diversified. See the table below:

Finally, in addition to payment options to make it less painful on cash flow, you can add a Digital Package for $2,500 that will deliver 80,000 online impressions using the 20 second video that will appear as a pre-roll on targeted websites.

As is always the case, you will also receive a copy of your television spot that can be used on your website, Facebook page, or even placed on your own with local broadcast or cable stations.

A separate announcement will arrive soon to alert you to the 2017 campaign and we hope you will give it serious consideration!

2017 TRUSTED CHOICE® BRANDING CAMPAIGN

Cost Retail Value Savings 2016 Campaign 2017 Campaign Taping @

GOLD $5,000 $16,050 $11,050225 Broadcast Ads

40 Radio Spots1 Red Sox Spot

300 Cable Spots 30 Broadcast Spots

20 Radio Spots 1 Red Sox Spot

Agency

SILVER $2,500 $8,500 $6,000112 Broadcast Ads

20 Radio Spots1 Red Sox Spot

250 Cable Spots 15 Broadcast Spots

1 Red Sox SpotIIARI*

BRONZE $1,250 $4,500 $3,250 56 Broadcast Ads1 Red Sox Spot

250 Cable Spots 1 Red Sox Spot IIARI*

*Agency may opt for agency taping for a $350 additional fee

GOVERNMENT AFFAIRS COMMITTEE IN FULL SWING

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In order for IIARI to successfully promote the organization and members like you we need your assistance!

A simple survey (link provided at end of article) will capture your community involvement. From little league to scouting, hospital boards to charitable organizations, we need to collect this data.

Additionally remember if you – or anyone in your agency – are presented with an award or recognition, we need to know in order to get a press release out to the media outlets.

SECOND CALL FOR INVOLVEMENT SURVEYS!

IIARI must recognize the hard work of agent volunteers who support the Government Affairs Committee. Unbeknownst to most, the committee meets almost every other week during the General Assembly session to dutifully watch bill introduction and monitor bills that directly affect or may have consequences on the members or their clients.

The committee is made up of the following individuals:

Chair Ernie ShaghalianMembers Dave Bates Kim Raymond Ed Bishop Rick Rheinberger Melanie Flamand Ken Thompson Cristie Hanaway Carlos Tobon Peter Kenahan David WhiteNAIFA Rep Gene NadeauStaff Liaison Maureen McNamara

Lobbyist Terry MartiesianExec Mark Male

As reported in the last Newsbriefs, issues on the radar this year include:

• Correction to Condominium Bill (passed last year)

• Transportation Network Company (addressing vehicle owners)

• Snowplowing (eliminated strict liability on snowplow providers)

• Automobile Dealership Owned Agencies (protect consumer information)

• RI Auto Plan Claims (pending meeting with AIPSO representatives)

“The only way this awareness program will work is with the engagement of the members throughout Rhode Island,” according to IIARI President Rick Paquin. “So many people are involved with so many organizations I think we would be surprised at the

reach of the nearly 1,400 people employed by independent agencies in the state of Rhode Island.”

Click here for the survey

116TH ANNUAL CONVENTION COMING INTO FOCUS

“ ...we anticipate that our room block will be sold out quickly so you need to act promptly when rooms are opened for reservations.”

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IIARI is extremely excited to try a new venue for this year’s 116th Annual Convention. The former Seaview Hotel located at 240 Aquidneck Avenue in Middletown was raised and a brand new hotel and meeting center constructed.

The property is called the Atlantic Resort Hotel & Conference Center and boasts 143 rooms plus more than adequate space for our annual event. The overnight room rate is only $149 during our meeting and we anticipate that our room block will be sold out quickly so you need to act promptly when rooms are opened for reservations.

DAY 1: MONDAY, JUNE 12The convention will kick off on Monday, June 12 after the Board meets that morning when we take to the links at Newport National. The Young Agents Committee may be working on a meeting at the same time as the convention. There is some tentative discussion about a light reception that evening – check back for specifics as plans are finalized.

DAY 2: TUESDAY, JUNE 13The CE day will most likely take place on Tuesday with a full day of interesting and useful topics. This will be a perfect fit for any principals, producers, or CSRs interested in attending a program in beautiful surroundings and views of Newport. As always, exhibitors will be there to show their products

and services to the group during the morning registration, breaks, lunch, and afternoon reception. The evening will end with a New England Bake, so don’t forget your lobster bibs!

NOTE: A special event may happen right before dinner that evening – stay tuned!

DAY 3: WEDNESDAY, JUNE 14To switch things up a bit, a speaker showcase of sorts will occur for agency principals, producers, and company representatives Wednesday

morning. Numerous speakers are being contacted to assemble an eclectic mix of individuals who will share on various topics of interest. We have already confirmed DBR Deputy Director and Insurance Superintendent Elizabeth Kelleher Dwyer as one of the speakers that morning. The day will conclude with lunch and a keynote speaker.

All-in-all, it will be an exciting, affordable, educational, and worthwhile use of your time. MARK YOUR CALENDARS TODAY! Monday, June 12 to Wednesday, June 14 for the 116th Annual Convention!

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Thanks to the support of 63 IIARI members, the Political Action Committee raised $9,525 last year to assist the Association to advance the important legislative interests of IIARI members and consumers at large.

What is remarkable is the average contribution was over $150 per person – THAT is something to feel good about. Something that gives us a little indigestion is that there were only 63 people out of a possible 1,400 individuals employed by IIARI members – that works out to $6.80 per member!

The old adage, “many hands makes light work,” applies in this situation. If every member were to make a $10 contribution, we would end up with a formidable PAC of $14,000. This is preposterous to suggest, but is it out of the realm of possibilities to get agency principals to support the PAC at $100 per person? The outcome of that math is $20,000!

IIARI PAC will make an email solicitation this year and provide online credit card payment options for the

first time. Remember ONLY personal checks or personal credit cards are permitted for PAC donations as prescribed by the state. If you are feeling motivated to support the PAC, use the link below to print out the IIARI PAC form and submit it with your payment (online credit card payment will be announced shortly by separate email).

…THANK YOU for your support of this important part of our advocacy efforts.

Contribute to IIARI PAC

IIARI PAC

MARK YOUR CALENDARSIIARI 116th Annual ConventionJune 12, 13 & 14Atlantic Resort, Middletown

IIARI Fall OutingTuesday, October 10

Potowomut Golf Course, Warwick