08/05/03 Employment Agencies Find a Home

Hire The Hartford for
Employment Agencies / Big “I” Markets Experienced Down Time on Monday
As the unemployment rate increases, so too will the demand for the services offered by employment agencies. Increased demand for means increased exposure to loss for these agencies and that creates opportunity for IIABA member agents.
Big “I” Markets, in conjunction with The Hartford, is introducing a Middle Market package policy designed for employment agencies. As business processes and technology have changed within the industry, so too have the exposures these firms face. Fortunately, The Hartford understands the unique insurance needs of the Employment Agency industry. Drawing upon its in-depth experience insuring companies like these, The Hartford developed a program for Employment firms that helps you provide these clients with superior insurance protection tailored to their specific needs.
Coverage highlights of the program include the following:

Property Coverage

The Property Choice product provides comprehensive protection your clients are seeking. This product has many built-in features including coverage for:
þ Valuable papers and computer media with extended cause of loss
þ Computer hardware with extended cause of loss
þ Ordinance or law
þ Accounts receivable
þ Loss assessment costs
þ Leasehold improvements
þ Utility services
þ Equipment breakdown
þ Worldwide exhibitions and Business travel
þ Transit
In addition, the Business Services Supplemental Coverage Endorsement (SPICE) includes:
þ Business personal property coverage at unnamed premises
þ Extra expense
þ Utility Services-additional limit (including coverage for business interruptions)
þ Business crime overages with extended limits for employee dishonesty, money and securities and forgery or alteration
The Hartford also offers a Business Income and Extra Expense Endorsement for Professional Offices, which allows coverage valuation based on billable hours and on net income. This enables you to customize coverage to reflect you client’s own billing and recording methods.

Additional Coverage

The Hartford’s liability, automobile and workers' compensation strengths are sure to be real assets to you and your clients. The program offers:
þ  General liability coverage including an industry leading Broad Form Endorsement
þ  Workers’ Compensation coverage backed by state-of-the-art Managed Care capabilities
þ  Commercial Automobile coverage with many valuable coverage extensions
þ  Umbrella coverage
þ  Employment Practices
Participating agents will receive an average of 10% - 12% commission on The Hartford products. The program is open to all agents nationwide, subject to filing and state licensing compliance. Participating BIM agents can request a quote and download policy forms and electronic brochures related to the products by logging into www.bigimarkets.com. Look this product up under the ‘Business Services’ heading. / Due to a technical glitch with the database that supports the login process, Big “I” Markets experienced downtime yesterday. This problem has been resolved and users should no longer experience login problems. If you are still having difficulties logging in, please contact a member of the Big “I” Markets team at or (800) 221-7917.
HURRICANE WARNINGS
ACCELERATE FLOOD SALES
Recently in a Time.com online article, William Gray, professor of atmospheric science at Colorado University predicts “higher-than-average hurricane activity this year with 14 named storms, eight of which are expected to be hurricanes, three of them intense.” Those of you along the coast line are anxiously awaiting the end of hurricane season because you know the devastation that can follow even a tropical storm.
The 74 to 160 mile per hour winds that typically accompany a hurricane can push the storm far inland, reeking havoc on otherwise unsuspecting and mostly unprepared communities. Torrential downpours flood inland rivers and steams, leaving them swelling well out of their banks. And the runoff systems in many cities are unable to handle such an increase in water. During landfall, a hurricane rainfall of 10 to 15 inches or more is common.
It is fairly easy to catch the ear of an insured that lives in an approaching hurricane’s path. The key is not to let tragedy befall your clients before you give them the option to protect themselves. Hurricane or not, there is a 26% chance of experiencing a flood during the life of a 30-year mortgage compared to only a 4% chance of fire.
The National Flood Insurance Program requires a mandatory 30 day waiting period before a flood insurance policy is issued. If a property owner waits until the storm is only days or hours away, their property will go uninsured. However, there are exceptions to this rule.
There is no waiting period…
…if your client has an existing flood policy and an additional amount of flood insurance is required with the making, increasing, extending or renewing of a loan, such as a second mortgage, home equity loan, or refinancing. Coverage is affective immediately, as long as the premium is presented at or prior to loan closing.
…when flood insurance is required as a result of a lender determination that a loan which does not have flood insurance should be protected by flood insurance. Coverage is effective immediately, as long as the premium is presented at the completion of a loan application.
….when an additional amount of insurance is required as a result of a map revision.
For assistance in obtaining a quote for your customers, login to Big “I” Markets today and complete the simple Quick Quote form. The Big “I” National Flood Program team will run the zone determination, rate the risk and provide a partially completed application for you to review with your client to finalize coverage needs. Big “I” Markets agents receive 16% commission on all new business, and the Commission Rewards Program allows new business commissions to grow upwards to 21%. Don’t let your clients go uninsured. Think Flood. No insure it.
MORE INFORMATION AND STATE AVAILABILITY: For more information on these products and more, login to http://www.bigimarkets.com. To request a User name and password, email bigimarkets@iiaba.net.
ONLINE TRAINING: Online training times are changing in response to agent feedback. Need a refresher on how to navigate Big “I” Markets or just want a quick tour on how to submit a quote? Register today for an online Web-based virtual tour of Big “I” Markets. Send an email to to register for training sessions that are now held every Thursday at 2:00 p.m. – 3:00 p.m. Eastern.
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