Wisconsin Independent Agent | February 2023 Magazine

THINK UFG for simple insurance solutions

Simple solutions for complex times® is more than just our tagline at UFG Insurance.

We’ve made it our mission to create simple solutions for doing business with us, which begins with providing trusted insurance protection and service that exceeds expectations.

For a carrier committed to making insurance simple, think UFG. After all, insurance can be complicated and we all deserve simple solutions in these complex times. ufginsurance.com/services

Simple solutions for complex times INSURANCE

CONTENTS

COVER STORY:

Take Flight at InsurCon2023

Join the IIAW at the EAA Aviation Museum in Oshkosh, WI on May 16-17th for InsurCon2023. Hear from Brent Kelly, Sitkins Group, and many others, including our keynote speaker, Lt. Col. Waldo Waldman.

PAGES:

12-16

INSURANCE BARTENDER...................................................6-7

Overcoming Sales Meeting Objections

NEW TO THE TEAM..............................................................8

Welcome Ali Smeester, IIAW's Agency Accounting Specialist

IIAW EMERGING LEADERS................................................10

2022 Emerging Leaders Annual Fundraiser

PERSONAL LINES...................................................................18-19

4 Steps to Make Sure Homeowners Have the Right Type of Insurance

AGENCY OPERATIONS........................................................20

When Employees Lead: Thriving in an Employee-Driven Job Market

COMMERCIAL LINES............................................................22-23

Recent Trucking Spills No Laughing Matter for Transportation Industry

COMMENTARY FROM COUNSEL.....................................25

Non-Compete Ban? Not So Fast

MARKETING................................................................................26

Tap Into Customers' Needs for More Effective Marketing MEMBERS IN THE NEWS.......................................................28

AGENCY MANAGEMENT.......................................................30-31

How a Hard Market Can Impact an Agency's Profitability GOVERNMENT AFFAIRS........................................................32-33

Four Candidates Square Off in High Stakes Court Race FOOD FOR THOUGHT.............................................................35

ADVERTISERS INDEX

wisconsin INDEPENDENT AGENT

INDEPENDENT INSURANCE AGENTS OF WISCONSIN

725 John Nolen Drive

Madison, Wisconsin 53713

Phone: (608) 256-4429

Fax: (608) 256-0170

www.iiaw.com

2022-2023 EXECUTIVE COMMITTEE

President:

Nick Arnoldy | Marshfield Insurance Agency, Inc., Marshfield

President-Elect:

Michael Ansay | Ansay & Associates, Port Washington

Secretary-Treasurer:

Joanne Lukas Szymaszek | Johnson Insurance Services, LLC, Racine

Chairman of the Board:

Marc Petersen | American Advantage - Petersen Group, New Berlin

State National Director:

Steve Leitch | Leitch Insurance, River Falls

2022-2023 BOARD OF DIRECTORS

Janel Bazan | Avid Risk Solutions/Assured Partners, Middleton

Mike Harrison | R&R Insurance Services, Inc., Waukesha

Aaron Marsh | Marsh Insurance Services, Inc., Rice Lake

Kash Motlani | Ansay & Associates, Inc., Port Washington

Dan Lau | Robertson Ryan & Associates, Milwaukee

Andrea Nelson | Unisource Insurance Associates, LLC, Wauwatosa

Brad Reitzner | M3 Insurance Solutions, Madison

IIAW Staff

Matt Banaszynski | Chief Executive Officer 608.256.4429 • matt@iiaw.com

Mallory Cornell | Vice President and Director of Risk Management 608.210.2975 • mallory@iiaw.com

Kim Kramp | Accounting Supervisor 608.210.2976 • kim@iiaw.com

Trisha Ours | Director of Insurance Services 608.210.2973 • trisha@iiaw.com

Evan Leitch | Agency Solutions Advisor 608.210.2971 • evan@iiaw.com

Kaylyn Staudt | Marketing and Communications Coordinator 608.210.2977 • kaylyn@iiaw.com

Jeff Thiel | Director of Agency Success 608.256.4429 • jeff@iiaw.com

Andrea Michelz | Education & Membership Engagement Coordinator 608.210.2972 • andrea@iiaw.com

Diana Banaszynski | Education & Events Coordinator and HR Business Partner 608.256.4429 • diana@iiaw.com

Ali Smeester | Accounting Specialist 608.256.4429 • ali@iiaw.com

Wisconsin Independent Agent is the official magazine of the Independent Insurance Agents of Wisconsin (IIAW) and is published monthly by IIAW 725 John Nolen Drive, Madison WI 53713. Phone: 608.256.4429. IIAW does not necessarily endorse any of the companies advertising in publication or the views of the writers. IIAW reserves the right, in its sole discretion, to reject advertising that does not meet IIAW qualifications or which may detract from its business, professional or ethical standards. © 2023 For information on advertising, contact Kaylyn Staudt, 608.210.2977 or kaylyn@iiaw.com.

In 1919, A group of Pennsylvania farmers founded Penn National Insurance to provide affordable workers’ compensation insurance.

Today, Penn National Insurance sells property-casualty insurance in 12 states by partnering with more than 1,200 independent agency operations. In 2012, we affiliated with Wisconsin-based, Partners Mutual Insurance Company. As one company, we bring the personal attention and local focus of a regional carrier, along with the quality of products and services of national carriers.

Interested in partnering with a thriving insurance carrier with superior customer experience? We are looking for seselect commercial lines-oriented agencies in Wisconsin.

Contact: Vicki Lentz 262-432-3420

vlentz@pnat.com

Contact: Clayton Zogata 715-383-5454

czogata@pnat.com

• Strong financial performance and A.M. Best Financial Strength Rating of A- (Excellent) Positive Outlook

• Expanded Commercial Lines products and services with competitive pricing and comprehensive coverages to help our agents grow profitably

• Comprehensive Personal Lines product offerings, including Homeowners Equipment Breakdown and additional protection plans

• State-of-the-art quoting, processing and self-service tools, making it easier and faster to meet your customers’ needs

• Local, experienced underwriting, claims and management staff�

Company Spotlight

Penn National Insurance

Penn National Insurance is small enough to provide personal, caring interactions, but large enough to serve our agents your policyholders with the same sophistication of the largest carriers. We back our promise to help people feel secure and make life better when bad thing happen with our strong financial position, and we remain committed to distributing our products and services through independent agencies. With a regional presence, longstanding market stability and consistency on pricing, we strive to build enduring relationships with policyholders, agents and team members by serving their long-term best interest.

Building lasting relationships

Our people and our agents make Penn National Insurance special. There is a fundamental mutual respect for one another that makes it so much easier to find solutions together. We value the relationships we have built with our agents as part of the underwriting process and placement of accounts with us. And we offer a diverse portfolio of products and services to meet today’s customer needs.

Partner with us if you are seeking:

• An accessible management team that really knows you and your agency

• Consistency in underwriting

• A dependable and fair approach to claims handling

• Local knowledge and presence in your markets

"Penn National Insurance continues to be a company that believes in the importance of relationships with agents. We are viewed as more than just another agency. We are partners with a common goal—to provide the coverages customers need; the attention so important at the time of a loss; and the urgency not only to grow, but to retain our current customers for a long time. Penn National Insurance customers are loyal, because Penn National Insurance has been and continues to be loyal to them.”

policyholders, we offer great coverage at an affordable price, plus many additional coverages like Roadside Assistance, New Care Replacement coverage and Auto Loan/Lease coverage. For homeowners, we offer valuable additional coverages, such Equipment Breakdown Underground Utility, Loss Assessment and Identity Theft for added protection.

• A carrier that listens and responds

Diverse array of commercial and person coverages

In addition to the traditional Commercial and Personal insurance coverages, we offer a wide range of coveragerich endorsements known as PennPacs.

Our PennPacs provide valuable coverage and limit enhancement on Business Auto Businessowners, General Liability, Property, Workers’ Compensation and Inland Marine, geared to a market’s need.

Many of our PennPacs are rolled on free of charge or offered at a nominal fee. For our Home and Auto

Penn National Insurance, headquartered in Harrisburg, PA, sells property-casualty insurance through a network of more than 1,200 independent agency operations. The company wrote over $771 million in net written premiums and holds over $1.9 billion in admitted assets. The company operates offices in Harrisburg, Pa., Pittsburgh, Pa., Brentwood, Tenn., Greensboro, NC, Lawrenceville, NJ, and Waukesha, Wis.

Ann Bass, First Citizens Insurance

OVERCOMING SALES MEETING OBJECTIONS

The problem with sales meetings is that most agencies have them and, generally, most producers loathe them. Why? First and foremost, producers tend to view them as a waste of time. To them, meetings disrupt what they really want to do, which is work on sales rather than listen to someone talk about issues they don’t see as relevant.

Other reasons producers dislike meetings:

• Lack of focus. If there’s no real purpose, what’s the point?

• Meetings don’t help them write more business or earn more money.

• Leaders appear to be more concerned with what they have to say, rather than what the producers need or want to hear.

Another reason salespeople dislike sales meetings is that most are based around sharing numbers and data, with lengthy discussions about “good” numbers and “bad” numbers. The problem is that you can’t manage numbers! You can know the numbers, but you can only manage behaviors. That’s why the best sales meetings aren’t meetings about sales figures. They are sales improvement meetings. There is a big difference, and unlike the average sales manager who focuses on topics that could be shared in an email, the best sales leaders focus on the skills, the processes, and the attitudes that help producers become better at their craft.

Why have meetings?

If you ask most sales leaders what their number-one job is, they’ll usually say things like “improve sales,” “increase revenue,” or “grow the agency.” While that makes perfect sense, those are the results of a job well done, not the job itself. Do your producers leave meetings better than when they arrived? If not, it may be time you examined your effectiveness as a leader.

Your role as a sales leader is to improve your salespeople in order for them to improve their numbers. A worthwhile sales meeting will give producers something extra to put into practice on the street. With each meeting, they should be better equipped and more empowered to make sales.

Sales meetings also show a commitment to a sales culture. So many agencies say they have great service, which may mean they’re primarily a service organization that happens to do sales. The best agencies have a dynamic sales culture that also provides great service.

Structuring your meetings

When scheduling sales meetings, it’s critical to be consistent or intentional. This conveys the message that they’re important. Naturally, things will come up from time to time to derail your meeting schedule, such as holidays and other circumstances beyond your control. If it’s not a frequent occurrence, an occasional missed meeting isn’t going to cause irreparable harm to your sales department. However, when meetings become infrequent or inconsistent, it’s easy for them to fall by the wayside until they’re non-existent. This sends the wrong message about your sales organization. It also suggests indifference toward helping your producers improve.

Keep in mind the following when scheduling your sales meetings:

• Weekly meetings are recommended. You’ll notice that’s spelled “weekly,” not “weakly.” It’s not an obligatory get-together to muddle through. The goal is to learn and improve in a supportive environment.

• Meetings should have a purpose and an agenda that outlines topics of discussion. Knowing why you’re meeting and what you want to say saves time and helps eliminate distractions.

• One hour should be sufficient, assuming it is spent purposefully. That’s one-half of one percent of your 168-hour week to make you better at your craft. Remember, the point of a meeting is not to fill time, but to make the most of it.

• Day. The best day of the week for sales meetings is Monday. If you follow Sitkins’ Producers Perfect Schedule, Monday is a “get ready to play” day, when you and your team get mentally organized and psyched for the big game. It’s the ideal time to prepare for your week’s sales appointments and meet with your service professionals. Also, since many businesses typically have Monday meetings, your business clients will be occupied at the same time. This alignment allows you to be out in the marketplace selling when your clients are available.

Meeting content

As I mentioned earlier, you must have an agenda. Without it, group conversations tend to meander into random talk and may devolve into frustrating, time-consuming gripe sessions. Before you know it, the point of the meeting is lost, and the time set aside for it has evaporated. An agenda helps everyone stay focused and on the same page.

If the basis of a sales improvement meeting is to improve, the best way to improve is through low-risk practice. No

one likes to practice, but no one excels without it. For example, if you’re on a football team, you practice by running plays—you don’t stand around and just talk about the playbook, hoping that everything works out on game day. Instead, you practice the plays at the risk of looking stupid in front of your peers so that you won’t look stupid on game day when the stakes are much higher. Wouldn’t you rather fumble the ball at practice than fumble it during the fourth quarter when you’re going for a touchdown?

The same is true of low-risk practice during a sales meeting. This is the kind of practice you do where no one gets hurt, except maybe your feelings. Would you rather be embarrassed among your peers or lose your best account? You need to practice continually on the things you’d like to do better. A top-100 agency I currently coach devotes the first 15 minutes of every sales meeting to practicing their skills in a specific area, such as how to overcome objections. It’s had a significantly positive impact on their sales volume.

Although most salespeople will agree that good communication is vital to their success, few actually practice speaking in front of others. To improve their communication skills, they must continually practice and refine the following skills:

• 30-second commercial. If someone came up to your producers and asked them what they do, what would they say? Would they be specific? Would they say something articulate and compelling? Or would they say they sell insurance for XYZ Company?

• Points of differentiation. Can your salespeople clarify what makes your agency different from other independent insurance agencies?

• When meeting with future ideal clients (FICs), are they prepared to ask powerful, risk-based questions that make their prospects stop and think? Or do they show up, throw up and blow up? It takes practice to ask questions that change the conversation and move it away from being transactional.

• Asking for referrals. We know that referrals have the highest closing ratio and produce loyal, ideal clients, and yet most people don’t feel com-for table asking for them. It takes practice! To keep from sounding needy, you have to work on it. What’s more, referrals must be earned. What sorts of deposits have you made in the relationship? Don’t expect them to be a risk partner if you speak to them only at continuation.

Other key agenda items include a debrief of both successes and lost sales and a review of market conditions and coverage issues.

To keep from making the same mistakes repeatedly, it’s extremely important that we learn from our losses. That’s why we debrief. You can’t learn from experience until you reflect on why you won and more important, why you lost. The insight you gain will enable you to improve and succeed in the future.

For instance, let’s say you didn’t write an account that you felt confident about. Instead of immediately moving on to the next opportunity, take the time to evaluate what you did well and where you need to improve. You might want to ask:

• How soon did I go into the appointment?

• Did I establish the rules of the game?

• Did I connect with the right decision makers?

• Did I ask relevant questions and follow up on them?

• In other words, what did you learn from this experience and how can you apply it?

The best sales meetings include a debriefing session to share information, learn from others, and utilize the collective genius of the room. It’s important to frame this as an open exchange of ideas vs. an excuse to shame or judge individuals. People are eager to talk about their wins, and usually, someone has a great experience to share that would benefit others. Conversely, people who think they’ll be humiliated when they lose or make a mistake won’t want to discuss it, and no one will learn from their experience. The best sales leaders understand this and create a supportive environment that encourages team members to learn from one another. As a result, everyone wins!

It’s also important to review market conditions and coverage issues. Do you keep up with what’s hot and what’s not in the marketplace? Your sales team needs to know what’s happening with pricing and carriers as trends and market conditions are always evolving. For most sales leaders, meetings are the perfect place to share this information. For example, let’s say a producer hears that one of the carriers plans to stop writing a specific type of industry in the coming months. By mentioning it to the team, someone else may know of other carriers that will write those policies. Problem solved.

Regrettably, meetings frequently get hijacked by complaints and venting vs. discussing solutions and next steps. While it’s okay to be angry about an underwriting issue, anger is not going to solve your problem. You need to come up with a plan of action, such as talking to the carrier or finding a different one. People can only control the controllables. You can’t control a carrier ‘s decision any more than you can control the weather. You can only control how you react and what you do about it as a team. The key is to focus on the solution, not the problem.

The bottom line

Your best version possible agency starts with the improvement of your people because when you improve the people, you improve sales. Consistency is the key. In fact, it’s been said that nothing is more powerful than compounding consistency, and I agree.

What would compounding consistency mean for producers’ pipelines, positioning, and overall performance in one month, six months, or one year? I believe you’ll find that even modest improvements can reap huge rewards.

Register now for Insurcon2023, and learn more from President of Sitkins Group, Brent Kelly! Brent will bring his extensive hands-on insurance industry experience to InsurCon2023. Brent will help you gain influence, maximize your potential and grow your book of business. iiaw.com/insurcon

Welcome, Ali!

Ali Smeester, IIAW Agency Accounting Specialist

What’s one of your favorite memories from the past year?

My favorite memory from the past year is moving to our new home in Bloomer, Wisconsin and spending time with family.

What is your guilty pleasure?

My guilty pleasure is Snickers.

When you were a kid, what did you want to be when you grew up? A veterinarian.

What would we most likely find you doing on the weekend?

Please join us in welcoming our newest team member, Ali Smeester. Ali is joining the IIAW as an Agency Accounting Specialist.

We recently sat down to learn a bit more about Ali:

You'd find me working on home projects or enjoying the outdoors with my family.

If you'd like to welcome Ali or if you have any questions, she can be reached at ali@iiaw.com.

Responsive claims handling Facilitation of quality medical care (when an accident does occur)

We’ve been successfully protecting our policyholders and their employees since 1983. Browse all of our products at www.guard.com.

2022 EMERGING LEADERS ANNUAL FUNDRAISER

While the IIAW Emerging Leaders’ Holiday Party was rescheduled due to weather, the group was still able to meet in January to network, learn from IIAW CEO Matt Banaszynski’s State of the Industry presentation, enjoy a fun gift exchange and most importantly, donate to a wonderful cause! This year, the IIAW Emerging Leaders raised more than $1,000 in total donations between monetary and physical items for three humane societies across Wisconsin: the Dane County Humane Society, Humane Society of Southern Wisconsin and Fox Valley Humane Association.

Over the last five years, the IIAW Emerging Leaders have donated $10,000 (both cash and physical items) to charitable organizations throughout Wisconsin.

While networking, learning and professional development are important features of the group, the IIAW’s Emerging Leaders also prioritize giving back to local organizations. We are looking forward to our continued support of local communities in 2023 and beyond.

Become a member of the IIAW Emerging Leaders by visiting su.vc/emergingleaders, or contact Evan@iiaw.com to learn more.

> Evan Leitch, Agency Solutions Advisor, IIAW

The IIAW Emerging Leaders met for their annual holiday party.

Dane County Humane Society

Humane Society of Southern Wisconsin

Fox Valley Humane Association

Luxe Golf Social

Education, golf and networking event

Join the IIAW Emerging Leaders for an exciting afternoon at Luxe Golf Bays learning from our guest speaker and afterwards, enjoying friendly competition playing golf in Luxe’s heated golf suites. Registration to attend is $10 per person and includes appetizers and drink tickets.

Guest Speaker:

Joel Katsma

General Manager - Sales, Acuity Insurance

Joel will lead a “Hard Markets Create Opportunity and How Technology is Changing Insurance Distribution” presentation.

March 2, 2023 Luxe Golf Bays

7065 S Ballpark Dr. Franklin, WI 53132

SCHEDULE:

1 P.M. TO 2:30 P.M. PRESENTATION

2:30 P.M. TO 4:30 P.M. GOLF & NETWORKING

TUESDAY, MAY 16TH

1PM-5PM

Founders Wing

Schedule of Events

BRENT KELLY President of Sitkins Group

Mineshaft 8PM-11PM NETWORKING SOCIAL

Hosted by the IIAW Emerging Leaders

WEDNESDAY, MAY 17TH

8AM-9AM

EAA Main Entrance

BREAKFAST

FLIGHT PATHS 9AM-1:15PM

TOP GUN COMMUNICATION & NEGOTIATION SKILLS

New Level Partners

Every insurance professional must be skilled to influence or negotiate on a regular basis, so this flight path is open to anyone looking to improve in these areas.

Brent Kelly, Sitkins Group, brings his extensive hands-on insurance industry experience to InsurCon2023. Our kickoff presentation for this year’s event, Brent will help you gain influence, maximize your potential and grow your book of business.

Join us at Mineshaft where will be enjoying food, drinks and games. Our evening social is included in your InsurCon registration.

Stop by the registration desk at the EAA Main Entrance to pick up your breakfast before heading to your flight paths.

Choose the breakout session that aligns with your interests. Grab-n-go lunch will be provided in each breakout session. See our InsurCon Packet for more information about each flight path.

AGENCY PLANNING: MAPPING FUTURE FLIGHT PATHS

Carey Wallace, Agency Focus Security Financial Bank

Josh Johanningmeier, IIAW General Counsel

We encourage current and future leaders within the agency and industry to come learn more about the future of the independent agency.

1:30PM-4PM EXHIBITOR SHOWCASE

Education Center

4PM-5PM BREAK

5PM-6PM AWARDS CEREMONY

Eagle Hangar

6PM-7PM KEYNOTE PRESENTATION Lt. Col. Waldo Waldman

Eagle Hangar

7PM-10PM DINNER, DRINKS & NETWORKING

FLIGHT PATH TO DIGITAL MARKETING

Viral Solutions

Enhance your digital presence, both personally and as a brand, during this hands-on digital marketing experience.

Grab a drink from the bar and experience the EAA’s brand new Education Center while you network with other professionals. Agency attendees can win great prizes during Blackout Bingo and exhibitor Super Door Prize Giveaways.

Take time to clear your emails, check into your hotel and catch up with old friends prior to the exciting evening lineup.

Celebrate our 2023 awards winners in the Eagle Hangar. Join us as we present Rick Parks, CEO of Society Insurance with the EJ Tapping Lifetime Achievement Award.

This year’s evening entertainment features Waldo Waldman! Waldo is a real-world Top Gun, Hall of Fame Keynote Speaker, executive coach and expert on resilience, overcoming adversity & managing change.

Our final event for InsurCon will surely end this year’s convention on a high note. Take in over 200 historic aircraft while enjoying dinner, drinks and networking. The IIAW has reserved the EAA Museum exclusively for this evening event!

EAA Breakout Rooms

EAA Museum

Choose Your Flight Path

Choose the flight path that best fits your interests, and get ready to take off at InsurCon2023!

TOP GUN COMMUNICATION & NEGOTIATION SKILLS

New Level Partners

New Level Partners will lead the engaging & interactive Top Gun Communication & Negotiation Skills flight path. This workshop will include essential preparation steps to improve your negotiation readiness. Gain techniques for creating an impactful opener, dropping an anchor early, responding to “no,” and handle objections with confidence.

FLIGHT PATH TO DIGITAL MARKETING

Viral Solutions

The superstar pilots at Viral Solutions will lead this Flight Path to Digital Marketing, guiding you through developing a balanced and effective marketing strategy, creating compelling content for your website and enhancing your company’s internal and external communication with tips for generating clear and simple messaging.

AGENCY PLANNING: MAPPING FUTURE FLIGHT PATHS

Sometimes financial & legal planning at an agency take a backburner to day-today activities. However, understanding your financials is a critical component of your operational and strategic success. Come soar with this workshop’s industry experts as we explore perpetuation and financial planning, carrier contracts, legal issues, banking strategies and so much more more to help you take your agency to new heights.

Carey Wallace (Agency Focus), Security Financial Bank

Josh Johanningmeier (IIAW General Counsel - Godfrey & Kahn)

INSURCON 20

EAA OSHKOSH

MAY 16-17, 2023

Our keynote speaker:

Lt. Col. Waldo Waldman, The Wingman, is a Hall of Fame leadership speaker, executive coach and the author of the New York Times Wall Street Journal Bestseller, Never Fly . He teaches organizations how to build trusting, revenue producing relationships with their employees, partners and customers while sharing his experiences as a combat decorated F-16 fighter pilot, sales manager and entrepreneur.

Learn more about Waldo Waldman and watch his inspiring video:

bit.ly/MeetWaldo

Registration Information

Registration open now at iiaw.com/insurcon.

MEMBER PRICING

$249

Includes:

• Admission into all events and activities

• Lunch, dinner and two drink tickets

NON-MEMBER PRICING

$399

Includes:

• Admission into all events and activities

• Lunch, dinner and two drink tickets

EVENING DINNER, KEYNOTE AND SOCIAL ONLY

$99

Includes:

• Admission into awards ceremony, keynote, dinner and evening social only

Event Information

Hotel Information

Hilton Garden Inn: 1355 W. 20th Avenue in Oshkosh (1.8 miles away from EAA)

Comfort Suites: 400 South Koeller St. in Oshkosh (1.8 miles away from EAA)

Best Western: 1 North Main Street St. in Oshkosh (3.5 miles away from EAA)

Holiday Inn & Hotel & Suites: 2251 Westowne Ave. in Oshkosh (4.3 miles away from EAA)

TownePlace Suites: 1365 North Westfield St. in Oshkosh (4.3 miles away from EAA)

Feel free to stay at any of the hotel options Oshkosh has to offer. No room block code is required this year.

Dress Code

During sessions on Tuesday and Wednesday, our dress code will be business casual for the events at EAA. Mineshaft attendees can dress casual for this fun networking event.

For more information, please visit our website, iiaw.com/insurcon.

Networking Event

Join us for a fun night of networking at Mineshaft in Oshkosh on Tuesday, May 16th! Mineshaft is a fun-filled restaurant that offers food, drinks and plenty of game time in their expansive Game Room! Registration for this event is included with your InsurCon2023 registration.

Coming Soon - Event App

New for InsurCon2023 we are offering an event app, coming soon! Attendees and exhibitors can access the app to see the exhibitor booth map, session information, event schedule and so much more right at their fingertips. We’ll also use the app to send out push notifications about different InsurCon activities (such as Door Prize winners) leading up to and throughout the event.

Questions

Please call the IIAW at 608-256-4429 or email info@iiaw.com with any questions. Refer to iiaw. com/insurcon for complete event details.

4 STEPS TO MAKE SURE HOMEOWNERS HAVE THE RIGHT TYPE OF INSURANCE

There are a lot of risks to consider as a homeowner right now, and those risks only increase based on the value of a home. Supply chain disruptions, parts and labor costs, and inflation are all volatile considerations when accounting for the everyday upkeep and repairs needed to keep a home running.

While many homeowners may not consider the risks economic factors also pose to their insurance needs, over half (59%) of homeowners are concerned their insurance coverage is insufficient due to inflation and rising replacement costs, according to a recent survey from VIU by HUB.

Knowing that, agents need to ask their clients one very important question: Does your home, one of the largest investments a client may ever make, have the right type of replacement coverage?

A key point of consideration is the valuation of the home and what it will cost to rebuild should an unexpected event take place. There are many different home valuation terms, so it is important to understand which type to take into consideration when it comes to insurance:

• Market value. This reflects the price a buyer is willing to pay for a home considering location, desirability of the neighborhood, quality of schools and other factors.

• Appraisal value. Determined by a lender, this valuation ensures a homeowner doesn't borrow more than the value of the home.

• Assessed value. This is assigned to a residence by the local municipality for tax purposes.

• Replacement cost. Replacement cost is calculated by the insurance carrier to determine the expense to rebuild the home after a significant loss to the same condition prior to the loss.

Here are four steps agents can recommend to their clients to make sure their insurance matches their house's value:

1) Recommend having a home cost valuation. A replacement cost valuation of the home can help a homeowner determine if their home is underinsured. An agent can help set these up for their clients. Knowing exactly what a home is worth will give agents an idea of what type of coverage and how much of it is needed.

2) Educate clients on the different coverage types. After accounting for the home valuation, agents can then ensure their client's insurance policy provides the proper coverage for their unique needs so they aren't stuck with any high out-of-pocket costs and unexpected expenses during a loss.

Many homeowners don't realize the three most common types of replacement cost coverage:

• Basic replacement cost. This generally pays up to the exact limit of a policy.

• Extended replacement cost. In general, this coverage pays to have a home repaired or rebuilt to its condition before the loss, even if the cost exceeds the policy limit, up to

a capped value. The capped amount is an additional percentage over the amount for which the home was insured.

• Guaranteed replacement cost. This pays to repair or rebuild a home to its original specifications regardless of the cost. There is no cap on the amount the insurance company will pay.

3) Make sure all home features are accounted for. For homeowners with a high-value home, standard industry tools used to determine home replacement cost might not adequately reflect its specialty building materials, high-quality craftsmanship and custom features, many times resulting in insufficient coverage.

Homeowners might not realize that if they incur a total loss without enough coverage, they may have to pay out of pocket to rebuild their homes to match equivalent pre-loss construction. Agents should talk to their clients to identify these features so they are taken into consideration when determining what coverage is best.

4) Consider offering private client services. Agents who work with homeowners with highvalue homes should consider working with a high-net worth insurance carrier to help their clients avoid being underinsured.

There are other advantages to working with such a carrier. For instance, some carriers offer unlimited dwelling replacement cost coverage in cases of a total loss. This means if the homeowner has a covered loss, the home will be repaired or replaced with materials of like kind and quality even if the expense is more than the amount listed on the policy. Also worth noting is the opportunity for a replacement cash-out option, which allows homeowners to collect and use funds up to their coverage limit should they wish to move and not rebuild in the same location.

This article was originally published on iamagazine.com in January.

> Jeff Rommel, Senior Vice President, Property-Casualty Sales and

Distribution, Nationwide

WHEN EMPLOYEES LEAD: THRIVING IN AN EMPLOYEE-DRIVEN JOB MARKET

In its annual survey of the US workforce, Employ has uncovered some startling data. Nearly 10 million people who were unemployed at the time of the 2021 survey. Just a year later, the labor market has shifted dramatically. Millions of job openings going unfilled have given rise to an employee-driven market: one in which employees feel empowered to demand more from their employers.

They’re getting more, too. Companies are seeing overall job satisfaction rates of 62%, but even those employees are open to new job opportunities, leaving companies scrambling to improve employee relations and company culture. It seemed to have worked, at least according to one study by Quartz/Qualtrics: 37% of employees surveyed reported increases in kindness, generosity, and supportiveness since the onset of the pandemic.

For employees and job seekers, that kind of supportive culture matters. As the pandemic bore down on all types of industries, employees working from home were not only trying to make the transition to remote work but also re-evaluating what they want out of their work and careers. Workplace satisfaction took a front seat, as did workplace flexibility and wellness.

When Prudential released its March 2021 Pulse of the American Worker Survey, the impact of the pandemic was evident. The survey found that 87% of American workers who were working remotely wanted to remain doing so, even on a hybrid basis, when offices reopened. Most employees surveyed (68%) said that a hybrid workplace model would be the best option for them.

It’s a wake-up call for employers and the message is clear: workers value companies that focus more on culture and employee wellness. But more than that, employee wellness includes their wellbeing – financial, physical, and emotional. A few shifts in how a company interacts with employees can make a significant impact on morale and employee satisfaction.

Communicate, communicate, communicate. At the core of the best workplace environments is an atmosphere of open communication. Your managers should be interacting with every employee every day in some way. We suggest providing several avenues for employees to reach out –instant message, email, video calls, etc. – and a revamping of your management process to put one-on-one and team communication at the forefront of every day.

Introduce flexibility. The demand on employees to balance more in their lives means they’re looking for employers who offer flexibility that allows them to manage both professional and personal lives. Work-from-home options allow the single parent to work while the children are home. Measuring performance based on results rather than hours worked gives employees freedom to work during their best hours, which may not be 9-to-5. Trusting employees to get the job done without micromanaging them instills trust and improves employee retention.

Invest in productivity. Believe it or not, the tools your employees use make a big impact on their productivity and their job satisfaction. Keep abreast of new technology. Invest in your technology infrastructure to ensure your employees have the best tools available.

Expand your workplace beyond the four walls. Work-fromhome positions give your company an unexpected benefit – you are now able to recruit the best-fitting candidates from anywhere in the country. Those employees seeking full-time or even part-time remote positions are now considering applying to work for your company. And if your organization has implemented a flexible work culture, those same job seekers are even more interested.

By committing to management changes and cultural shifts that focus on the employee, your organization can make the necessary transition that attracts more job seekers. It can also improve productivity, morale, and improve communication throughout your organization. In a tough labor market, making those changes now can put your company well ahead of the competition now and into the future.

It shouldn’t take your customer’s roof disappearing in a matter of seconds to find out who you can count on.

RECENT TRUCKING SPILLS NO LAUGHING MATTER FOR TRANSPORTATION INDUSTRY

Two separate trucking accidents caused major spills of tomatoes and Alfredo sauce onto highways on different sides of the U.S. within hours of each other in late August, Today reported. The first incident took place Aug. 29 in Vacaville, California, when a big-rig truck went through the center divider and crashed, injuring three individuals and spilling more than 150,000 tomatoes across multiple lanes, which shut down one lane of traffic for at least six hours. The next day, one woman was injured and traffic was delayed after an 18-wheeler hauling hundreds to thousands of jars of Alfredo sauce crashed in Memphis, Tennessee, spilling sauce across all lanes and requiring hours of cleanup, according to reports.

News outlets were abuzz over both incidents, with some journalists reporting on the initially “great" smell of the sauce, another warning in jest that any pesto-hauling truckers should “get off the road right now," and the Sacramento Bee writing that it was “time to ketchup" after a second tomato truck spill in California occurred the same week.

Transportation and Garage

“It appears that social media is introducing humor into the situation by making these two losses the subject of memes," said Fernando Batista, Associate Manager, Transportation, B&W, Toronto, Ontario. “We have to remember three individuals were seriously injured. Someone could have lost their life."

These high-profile incidents are also “a negative reflection on the industry itself," Batista said, and come as transportation companies face pressing challenges, from the threat of nuclear verdicts to driver shortages and employee retention concerns. Major accidents also increase the cost of the insurance policies that trucking companies must carry in order to operate, including Truckers Auto Liability Insurance, Transportation Pollution Liability Insurance, Motor Truck Cargo Insurance, Auto Physical Damage Insurance, and Excess Liability Insurance.

“As loss severity increases, there is likely some mistrust in how these operations are managed and then, of course, insurance carriers are responding with increased rates," said Tyler Myers, Director, Transportation, Burns & Wilcox, Dallas/Ft. Worth, Texas.“This increases the cost of commodities as the costs per load increase. It is just a ripple effect."

Environmental damage can 'dramatically' increase accident costs

After a trucking spill, potential expenses can include cleanup costs, third-party property damage and injuries, natural resources damage, regulatory fines and penalties, vehicle repairs, and more. Clearing tomatoes or Alfredo sauce from a highway may not be as costly as more hazardous materials, Batista said.

In August, a trucking company in Ukiah, California, was ordered to pay $90,000 in enforcement costs and penalties after a 2019 oil tanker spill dispersed up to 4,500 gallons of oil onto the road and nearby land connecting to a creek, the Press Democrat reported. In May, a transport truck was involved in an accident in Kingston, Ontario, spilling the load of fertilizer it was hauling and temporarily shutting down a major highway exit, Global News reported.

Trucking companies should make sure they are carrying adequate liability limits given the commodities they are hauling and have enough liability coverage to ensure they are prepared for a larger accident.

“When a spill involves something more hazardous, there would be more of a cleanup exposure, liability exposure, and pollution exposure. That could mean evacuating towns and pollutants getting into the water table — it would be a completely different set of costs," Fernando Batista, Associate Manager, Transportation, Burns & Wilcox said. “Trucking companies should make sure they are carrying adequate liability limits given the commodities they are hauling and have enough liability coverage to ensure they are prepared for a larger accident."

Even materials that are not considered hazardous, such as Alfredo sauce, can cause environmental damage in a spill incident, Myers pointed out. “With dairy being the main ingredient in Alfredo sauce, it can be a pretty intensive environmental cleanup operation depending on where the spillage occurred," he said. “If there was any drainage into the water systems, the cleanup costs could escalate dramatically."

While a transportation company's Trucker's Auto Liability Insurance can help with expenses such as cleanup, thirdparty bodily injury and property damage, and more, companies would generally need a separate Transportation Pollution Liability Insurance policy to cover spill-related environmental damage costs, Myers said.

Physical damage to the truck is typically covered by the trucking company's Auto Physical Damage Insurance, while loss of cargo can be covered by Motor Truck Cargo Insurance. Excess Liability Insurance is often recommended, as well.

With dairy being the main ingredient in Alfredo sauce, it can be a pretty intensive environmental cleanup operation depending on where the spillage occurred.

“The environmental cleanup costs for dairy, crude oil, gasoline, and in very intense cases, chemicals such as ammonia, could easily reach limits of up to $1 million, depending on where the accident happened, what the infrastructure looks like, and whether there is water drainage and seepage into the residential water supply," Tyler Myers, Director, Transportation at B&W explained.

Nuclear verdicts continue to threaten transportation industry

Research from the American Transportation Research Institute released in 2020 found that large verdicts against trucking fleets were significantly increasing in number and size, including a 51.7% increase in the size of verdict awards between 2010 to 2018. During this time period, the average verdict size for a trucking crash lawsuit above $1 million increased almost 1,000%, CNBC reported. In 2021, a $1 billion verdict against a trucking company over a fatal 2017 crash was considered a possible new record for the largest nuclear verdict in the industry, FreightWaves reported.

The frequency of nuclear verdicts is certainly up. Losses exceeding the primary limits of $1 million are much more frequent now than they were even five years ago.

The definition of a “nuclear verdict" has changed over the years, Myers said, but is commonly considered to be one reaching in excess of $10 million or more. “The frequency of nuclear verdicts is certainly up," he said. In addition, “losses exceeding the primary limits of $1 million are much more frequent now than they were even five years ago."

These large losses “really have a far-reaching impact on many levels," Batista noted. “If the trucking company involved was negligent, they expose themselves to a large liability claim and the risk of a nuclear verdict," he said. “Nuclear verdicts are making it more difficult to secure higher liability limits. Trucking companies could be operating with lower than their desired Third-Party Liability limits as these Nuclear Verdicts are keeping insurance carriers from making higher limits available."

As insurance premiums increase in response, smaller trucking operations may be pushed out of the industry, Myers said. “Premiums are getting to a point where it is difficult to afford to operate as a non-fleet operator," he said.

Focus on safety, training amid driver shortage

In 2021, the American Trucking Association estimated that the shortage of truck drivers reached an all-time high of 80,000 and could exceed 160,000 drivers by the year 2030. Contributing factors may include pay, e-commerce competition, retirements, and recruitment issues, CNBC reported in July.

In Texas, some fleets have sought out foreign drivers to help fill positions, FreightWaves reported this month. “We are seeing more companies in border states utilizing international drivers due to the driver shortage, or recruiting drivers from other states," Myers said. “Some of the possible issues are when you have drivers who do not necessarily have the experience needed, or who do not have experience hauling specific loads, such as loads that have the potential to shift," he said, pointing to the recent tomato spill.

Companies may be taking more risks in their hiring and employment practices due to the shortage, Batista said. “The driver shortage is definitely a contributing factor to preventable accidents. The less experience the driver has, the more likely they are to get into this type of accident. If companies take shortcuts in their hiring process just to fill positions, that puts everybody at risk."

In Canada, expanding the category of skilled workers to include truck drivers would help hiring efforts immensely, Batista added. “Creating incentives to attract and retain new drivers could expand the hiring pool."

A safety culture starts at the top and is ingrained into the DNA of the company, and that is the best way they can protect themselves.

Despite the staffing difficulties, trucking companies must continue to prioritize safety. Insurance carriers are increasingly requiring companies to utilize telematics and cameras, Myers said. This added technology can also assist in driver training efforts.

“The telematics gives you an opportunity to counsel the driver. If they get caught for hard braking, speeding, or insufficient attention or looking down, they can use these samples as a training tool to counsel drivers," he said. “These negative driver tendencies, if shown to be frequent within the data and without documented training, can potentially be used in litigation involving a claim."

Incentivizing drivers to maintain a quality driving record, implementing pre-operational inspections, and having policies about cellphone use are among other recommended practices. “If your drivers are doing well, your premiums are most likely staying flat," Myers added.

Transportation company owners should take the recent accidents involving tomatoes and Alfredo sauce as a reminder to keep safety at the forefront, Batista said. “It is so unlikely to have two similar losses like that happening, hours apart, in different parts of the country. It makes you wonder what trends are happening in North America that are contributing to these types of losses," he said. “If they are preventable losses, what can we do as an industry to bring safety forward? A safety culture starts at the top and is ingrained into the DNA of the company, and that is the best way they can protect themselves."

This article was originally featured on independentagent.com in December. Reprinted with permission of Burns & Wilcox. Original article with source contacts available at http://bit.ly/3WpVdZ1.

> Burns & Wilcox

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NON-COMPETE BAN? NOT SO FAST

Unless you have been unplugged for the past month, you have heard that on January 5, 2023, the Federal Trade Commission (FTC) proposed a new wide-reaching rule that would ban non-compete agreements in the United States and preempt all state laws inconsistent with the rule. If implemented as proposed—and that is a big “if”—employers will be required to rescind all existing non-competes with current and former employees. That’s right—a world without non-competes: Do not panic. The promulgation of federal rules is sausage-making, even when non-controversial, and this agency (the FTC) pushing this proposed rule will be as contentious as anything we have seen, with any meaningful final rule being the subject of numerous legal challenges.

The IIAW has already put on an Issues Briefing led by CEO Matt Banaszynski, an expert on federal rulemaking. If you were not able to watch the Issues Briefing live, I highly recommend viewing the replay through the IIAW. Matt carefully explains the many steps involved in promulgating federal rules, so this column will focus on the high (or low) points of the proposed rule.

KEY PROVISIONS OF THE PROPOSED RULE

What is a Non-Compete?

Express (traditional agreements, e.g., a producer agreement with a non-compete) and de facto noncompetes are prohibited. Defining non-competes broadly to include agreements between an employer and a worker that prevent the worker from seeking or accepting employment with another employer or operating a business, the rule would also ban de facto non-competes. What is a de facto non-compete clause? According to the FTC, any of the following may qualify: a non-disclosure agreement written so broadly that it effectively precludes the worker from working in the same field after leaving the employer; a contractual term requiring an employee to repay the employer for training costs if their employment terminates within a specified time period, where the required payment is not reasonably related to the costs the employer incurred for training the worker; and the FTC’s comments also suggest that some customer and employee non-solicitation restrictions can “be so broad in scope that they serve as de facto non-compete clauses.”

Who is Covered?

The short answer: Just about everyone. The proposed rule covers agreements with employees and independent contractors—and more. The term “worker” includes any person who works (paid or unpaid) for an employer, bringing externs, interns, volunteers and apprentices into its scope. And, it would apply retroactively and prospectively, forcing employers to rescind all noncompetes with current and former employees within 45 days. The proposed rule does include a couple limited exceptions for the sale of a business (with ownership level criteria) and franchisor/franchisee relationships, each of which would still be subject to federal antitrust law.

HOW COULD THE PROPOSED RULE CHANGE OR BE CHALLENGED?

First off, it will take many months for the rule to wind its way through the rulemaking process, and it will likely face challenges along the way as the rule’s opponents challenge the FTC’s authority to promulgate such a broad-reaching rule. For its part, the U.S. Chamber of Commerce has already announced it is planning to sue the FTC, and it surely will not be alone.

As part of the rulemaking process, the FTC has opened the proposed rule for public comment until March 10, 2023— this is a critical process and one in which the IIAW, other trade associations and industries can and will participate. Your agency can participate too, either through the IIAW or on your own. If you are interested in doing so, please reach out to Matt or me.

Anticipating rancorous opposition, the FTC notice identifies a number of alternatives to the proposed rule, including: (1) a rebuttable presumption of unlawfulness of non-compete agreements, rather than a categorical ban (requiring employers to meet an evidentiary burden to prove that a non-compete is justified); (2) establishing different rules for different categories of employees (e.g., differentiating among low-level earners, job functions, exempt/nonexempt status, etc.); or (3) combinations of the first two approaches. Of course, the FTC’s suggested alternatives are not the limits of possibilities, and the comment period will no doubt yield countless comments and alternatives to be considered. The fact that the FTC preemptively suggested alternatives, indicates that any final rule could look different than this proposal and that the FTC may accept a less drastic approach.

WHAT SHOULD MY AGENCY DO RIGHT NOW?

First, as noted above, there is no need to panic. The FTC has only proposed the rule; it is not the law and will not be the law for at least another seven months, likely far longer. Next, at this point, your agency should review its existing non-competes to ensure they are compliant with and enforceable under governing state law. If any changes are needed, do so without regard to the FTC’s proposed rule— even if finalized, it may well be different than currently proposed. Drastic changes to try to preemptively comply with a non-final FTC rule will be inefficient, at best, and, at worst, pointless. Finally, stay tuned to the IIAW and this column and consider getting involved in the comment process.

> Josh Johanningmeier IIAW General Counsel

TAP INTO INSURANCE CUSTOMERS' NEEDS FOR MORE EFFECTIVE MARKETING

According to the most recent data from IBISWorld, there are approximately 420,056 insurance brokers and agencies in the U.S. The state of Wisconsin alone is home to 472 independent agencies in the Trusted Choice® network. It’s safe to say that you have your work cut out for you as an independent agent. To stand out, you need to put effort into your marketing, showing why your agency is the best choice. And it all starts by understanding your current and prospective insurance customers’ needs, wants, and problems.

Why It’s Important to Understand Your Insurance Customers’ Needs

As you know, individuals have a lot of options when it comes to insurance. And in most cases, they don’t see the difference between one agency and another. That’s why you must demonstrate that you know them, understand them, and empathize with them. Otherwise, your marketing efforts will go overlooked. People won’t see any reason to go with you over another agency.

A firm grasp of insurance customers’ needs is essential to marketing more effectively. It allows you to speak to their current struggles and desires. If individuals feel you truly “get them,” they’ll be more likely to take the next step. Ultimately, it comes down to this: Logic and emotion both play a role in buying decisions. You can enjoy better results when you hit on both in your marketing. Therefore, it’s crucial to do your research so that you can appeal to customers on an emotional and practical level.

How to Apply That Knowledge to Your Marketing Efforts

Gathering information about your insurance customers’ needs, desires, and problems is just the first step. Once you understand what they’re really looking for, you have to apply that knowledge to your marketing efforts.

Here’s how…

1. Focus on Customer-First Content

Any content you create should be geared toward your customers. Make it a point to use written and visual content to address common questions and concerns about insurance. Doing so will demonstrate your expertise and show that you listen to what customers have to say.

2. Use Familiar Language

To connect with customers, you need to speak their language. Fortunately, this is easy to do when you’ve conducted thorough research and understand how they communicate. Simply adopt an appropriate voice and tone for your audience. Further, use familiar terminology and avoid jargon that could confuse them.

3. Be Clear and Concise

A big part of addressing insurance customers’ needs is getting straight to the point. It’s about introducing the problem they have and how your agency can help solve it— quickly. People have limited time and short attention spans, which is why you need to be clear and concise. Of course, longer, in-depth content has its place too. However, if you’re trying to direct people to your website or request a quote, less is more.

4. Make the Customer the Hero

If you consider each piece of marketing collateral as part of a larger story, remember to position the customer as the hero. You should merely serve as the guide. Although you can help them solve the problem they’re experiencing, it’s up to the customer to take action and “win.”

5. Paint a Picture That Resonates

What will life look like once someone buys a policy with you? What does that happy “after” state include? These are questions that you should strive to answer in your marketing collateral. Consider insurance customers’ needs and desires to paint a picture that resonates with them.

Takeaway

Today’s insurance customers have high expectations and countless options. If you want to stand out, you need to market your agency more effectively. That means learning about insurance customers’ needs, desires, and problems and applying that knowledge accordingly.

If you need help developing a marketing strategy to reach your audience, visit viralsolutions.net and request a free consultation.

Serving Wisconsin employers of all types and sizes

In 2022, SFM wrote over 900 new policies totaling over $6.5 million in Wisconsin, including:

Small Business < $10K premium

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SECURA INSURANCE NAMED A GREAT PLACE TO WORK

Neenah, WI (12/12/22) - SECURA Insurance is proud to be certified by Great Place to Work® for the seventh year in a row. This certification is based entirely on what employees say about their experience working at SECURA, which is collected through an anonymous survey. This year, 96% of employees said it is a great place to work – 39 points higher than the average U.S. company.

“We are honored to be named a Great Place to Work certified company once again,” said Sarah Krause, SECURA Vice President – Human Resources. “This certification captures our employees’ genuine feedback about working at SECURA, and these results show our employees have consistently positive experiences with their coworkers, leaders, and the important roles they play at SECURA.”

SECURA’s Great Place to Work survey results ranked the company’s strengths and evaluated employee feedback on areas of leadership, fairness, rewards, and career opportunities. The results showed 97% of employees are proud to tell others they work at SECURA, 98% say when joining the company employees are made to feel welcome, and 98% say SECURA’s facilities contribute to a good working environment.

This certification qualifies SECURA to be named on other Great Place to Work and Fortune Best Workplaces lists. In 2022, SECURA was ranked number 14 on the Fortune Best Workplaces in Financial Services & Insurance for small and medium companies list, number 78 on the Fortune Best Medium Workplaces list, and number 66 on the Best Workplaces for Millennials for small and medium companies list.

A summary of SECURA’s Great Place to Work ratings can be found at https://www.greatplacetowork.com/certifiedcompany/5003080.

ABOUT SECURA INSURANCE

SECURA Insurance, headquartered in Neenah, Wis., is a regional group of property-casualty insurance companies operating in 13 states. Approximately 550 independent insurance agents represent the group, which provides a broad range of competitive commercial, personal, farm, nonprofit, and special events products. SECURA Insurance is known for providing exceptional service to its agents and policyholders since 1900, and is rated A (Excellent)

by A.M. Best for its excellent ability to meet policyholder obligations. It is a Ward’s Top 50 company for outstanding results in financial performance and consistency over a fiveyear period, and it is a certified Great Place to Work. Visit www.secura.net to learn more.

ABOUT GREAT PLACE TO WORK

Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All™.

Learn more at greatplacetowork.com and on LinkedIn, Twitter, Facebook and Instagram.

ACUITY SET GROWTH RECORDS, SURPASSED $2B ANNUAL REVENUE IN 2022

Sheboygan, WI (1/10/23) - Acuity announced that in 2022 the company surpassed $2 billion in annual revenue for the first time in its 97-year history, finishing the year with $2.22 billion in written premium. This achievement was driven by an 11.3% growth rate that generated a record $225 million increase in top-line revenue.

“Thanks to our strong partnerships with independent agents and the efforts of our staff, Acuity continued its upward trajectory in 2022,” said Acuity President and CEO Ben Salzmann. “Our continued growth means we are protecting more customers, serving more agents, and providing rewarding career opportunities for more people across our entire operating territory.”

Acuity has grown nearly nine-fold over the past 24 years and tripled its top-line revenue in just 13 years. The company also set an all-time record for new business written premium in 2022 at $338 million. With Acuity’s expansion came increased job opportunity: the insurer plans to hire 80 people in 2023.

Acuity achieved strong growth across its nationwide operating territory, fueled by gains in both personal and commercial lines. In personal lines, the company achieved its highest amount of new business premium ever, finishing 2022 with nearly $67 million, while setting a record for customer retention and writing an all-time high of nearly $460 million total premium. In commercial lines, Acuity wrote over $271 million in new business premium, issued over 31,000 new policies, and responded to over 103,000 quote requests.

Acuity Insurance, headquartered in Sheboygan, Wisconsin, insures over 125,000 businesses, including 300,000 commercial vehicles, and nearly a half million homes and private passenger autos across 30 states. Rated A+ by AM Best and S&P, Acuity employs nearly 1,600 people.

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The IIAW in-classroom prelicensing school has some of the highest passing ratios in the state for the last 25+ years!

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The course fee includes all class materials. Materials are distributed on the first day of class. You receive:

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HOW A HARD MARKET CAN IMPACT YOUR AGENCY'S PROFITABILITY

A hard market is a term used in the insurance industry to describe a period of time when insurance premiums are generally increasing, and underwriting standards are becoming more stringent. A hard market may be the result of a variety of factors, including increased claims and losses, rising costs for insurance companies, and increased regulation. In this environment, an independent insurance agency's profitability may be impacted in several ways. That impact can be positive for some agencies and negative for others based on how well an agency responds to their customer’s needs.

During a hard market, insurance companies may experience increased commission and fee revenue provided that their customers can withstand the rate increases. This can also occur due to their customers incurring higher claims and losses, which can lead to higher premiums for policyholders. As a result of these increased premiums, independent insurance agencies may find it more difficult to sell policies to potential customers and retain their current customers as the higher premiums may be less affordable for some consumers. This can lead to lower sales and retention revenue for the agency.

Additionally, during a hard market, insurance companies may also be more selective about the risks they are willing to cover, which can result in a decrease in the number of policies that are available to sell. This can also lead to lower sales and revenue for the agency.

Independent insurance agencies may also face increased competition from other agencies as they try to win business in a challenging market. This can lead to lower profit margins for the agency. There are several things that independent insurance agencies can do to minimize the impact of a hard market on their agency:

1. Focus on providing excellent customer service: Providing outstanding customer service can help to retain existing clients and attract new ones, even in a challenging market.

2. Build and execute a strong retention strategy: Communicate clearly to your current customers about the market conditions and be proactive in your approach. This is a time when your advice and guidance are key to building a strong relationship with your customers.

3. Diversify the types of insurance products offered: Offering a variety of insurance products can help to mitigate the impact of a hard market in any one specific area. For example, if one type of insurance is experiencing higher premiums due to increased claims, the agency may be able to offset this impact by selling more policies in a different area where premiums are stable or even decreasing.

4. Develop a strong digital presence: In today's world, having a strong presence online is essential for businesses of all types, including insurance agencies.

By improving your website, maintaining an active social media presence, and using digital marketing techniques, agencies can reach new customers and expand their reach.

5. Look for opportunities to save money: In a hard market, it may be necessary to look for ways to reduce expenses in order to maintain profitability. This could include negotiating lower rates with suppliers, finding more cost-effective ways to advertise, or streamlining operations to reduce inefficiencies. Investments in your agency’s efficiency are key, and those agencies that have made these investments will be well-positioned to perform well in a hard market situation.

6. Consider joining a network: By joining a network an agency can expand the range of products and services offered and increase the number of customers they can serve.

By implementing these strategies, independent insurance agencies can minimize the potential negative impacts of a hard market and continue

to operate successfully.

Agencies that anticipate and prepare for the changing insurance environment are able to be better equipped to meet the needs of their customers.

By simply having the infrastructure, procedures, and foresight to be proactive they will be able to outperform agencies that continue to operate the way they always have. The ability to be nimble and adjust as the market conditions change will be appreciated by their customers and will serve agencies well in a hard market.

> Carey Wallace Founder & Consultant, Agency Focus

FOUR CANDIDATES SQUARE OFF IN HIGH STAKES COURT RACE

Now that the midterm elections are behind us and divided government remains the status quo in Madison, all eyes have shifted to the spring state Supreme Court race where voters will decide the ideological makeup of Wisconsin’s highest appellate court for at least the next two years and establish the balance of power between conservative and liberal justices. This year’s spring election features a high stakes statewide race for an open seat on the court. Conservative Justice Patience Roggensack is retiring after 20 years of service on the bench. First elected in 2003 and reelected in 2013, Justice Roggensack also served as chief justice from 2015 to 2021.

This particular Supreme Court race is considered one of the more consequential elections Wisconsinites have seen in recent memory and could have lasting political implications beyond the bench on a wide variety of major policy decisions ranging from environmental and business regulations, abortion, legislative redistricting to executive versus legislative branch powers to name a few. The race will be the most hard fought, expensive in state history and voter turnout will be a key factor in a historically low turnout spring election. Currently, the Wisconsin Supreme Court has three liberal justices and four conservatives, including retiring Justice Roggensack. Justice Brian Hagedorn has acted as a “swing” vote on some issues, joining with the court’s liberal wing in a series of 4-3 decisions on issues such as redistricting and the public release of businesses’ COVID-19 data. Four candidates will appear on the statewide ballot in the spring primary - two conservatives and two liberals. The top two vote-getters in the February 21 primary election will square off in the general election on April 4. Wisconsin has not seen a fourway primary in a supreme court race since 2011. Supreme Court elections are officially nonpartisan

races and justices are elected to serve 10-year staggered terms. However, over time these elections have become more hyper partisan with the Democrat and Republican parties investing more resources on trying to influence the outcome of these races. Spring elections in Wisconsin also include many nonpartisan and local elective offices such as judges, mayors, city council, county and school boards.

Waukesha County Judge Jennifer Dorow announced her candidacy on November 30, 2022. Judge Dorow was appointed to the bench by former Republican Governor Scott Walker in 2011 and she was reelected in 2012 and 2018. Dorow has served as a chief judge in Waukesha County since 2017, overseeing administrative, financial, and personnel matters for the circuit courts in the 3rd district. Previously, Judge Dorow worked as an assistant district attorney for Waukesha County and as a criminal defense attorney.

She most recently gained national publicity this year as the presiding judge in the trial of the 2021 Waukesha Christmas parade attack. Dorow's endorsements include Eric Toney, the Fond du Lac District Attorney who was the Republican nominee for state attorney general in 2022. See Dorow’s campaign website at judgejennifer.com.

Former Justice Daniel Kelly announced his candidacy on September 8, 2022. Kelly was also appointed by Governor Walker in 2016 to serve out the remainder of a retiring justice’s term. He lost his reelection bid to current Justice Jill Karofsky in 2020. Kelly became just the second state Supreme Court incumbent in Wisconsin's history to lose re-election. As a former justice, Kelly is the only candidate with an actual track record from the high court to show how he would likely rule from the bench. Kelly consistently joined the conservative members of the court on rulings. Kelly has received the endorsement of Justice Rebecca Bradley and numerous sheriffs from around the state. In 2020, he founded Daniel Kelly Consulting and became a senior fellow at the Institute for Reforming Government. See Kelly’s campaign website at justicedanielkelly.com.

Dane County Judge Everett Mitchell announced his candidacy on June 1, 2022 as the second liberal leaning candidate to get into the race. He currently serves as presiding judge of the Dane County court’s juvenile division and is the senior pastor at Christ the Solid Rock Baptist Church. Judge Mitchell first won election in 2016 and was re-elected in 2022.

Before that, he was an assistant district attorney in Dane County and worked as the director of community relations for the University of WisconsinMadison. Judge Mitchell has been endorsed by former Democrat Governor Jim Doyle, Dane County Sheriff Kalvin Barrett and Dane County Executive Joe Parisi, and Madison Police Chief Shon Barnes. See Mitchell’s campaign website at judgeeverettmitchell.com.

Milwaukee County Judge Janet Protasiewicz was the first liberal candidate to announce her candidacy on May 25, 2022. Judge Protasiewicz was first elected to the bench in 2014 and was re-elected in 2020. Previously, she worked as an assistant district attorney in Milwaukee County for 26 years. Protasiewicz also served as an adjunct law professor at Marquette Law School. Judge Protasiewicz has been endorsed by Justice Rebecca Dallet and a number of Milwaukee-area judges and elected officials. See Protasiewicz’s campaign website at www.janetforjustice.com.

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