IIAW Blog

Motor Carrier Legislation Advances

It’s no secret that the IIAW has been working closely with the Office of Commissioner of Insurance (OCI), the Department of Transportation (DOT) and members of the Legislature to address the change in liability limits which was instituted for certain "for-hire" motor carriers. DOT was made aware that the lower insurance minimums dictated by the administrative code were not consistent with the requirements in statute. The department announced a change to raise the minimum requirements in May 2...
Matt Banaszynski
Matt Banaszynski

Flexing our Political Muscle: Reforming Certificates of Insurance Statutes

For years—recently with increasing frequency—agents have been asked by third parties to issue certificates of insurance that include information beyond (and potentially inconsistent with) the terms of the policy of insurance represented by the certificate. These requests present a myriad of potential E&O problems for agents. Traditionally, these requests typically have come from governmental entities, contractors, financial institutions and others who are additional insureds, certificate...
Matt Banaszynski
Matt Banaszynski

Protect Your Agency

Independent agency owners have built successful businesses around mitigating and managing the risks of their clients. Agencies provide peace of mind to their customers by, in the event of a catastrophe, protecting what’s important to them. We know that managing your agency’s risk may not always be a priority and that’s why we’re here. We understand agents because we are agents. With our finger on the pulse of what's happening in the insurance industry, we have years of experience on the fro...
Matt Banaszynski
Matt Banaszynski

Investing in the Future of the Independent Agency Channel

Are you investing in the future of your agency? Gain a competitive advantage by participating in the IIAW’s Professional Development Program. Many of you may be unaware of the programs offered by the IIAW that allow your agency to reinvest in your high caliber employees at little cost to your company. The Professional Development Program has become a model for other independent agent associations to follow. Recently, I was invited to Louisville to lead the Board of Directors and Emerging Le...
Matt Banaszynski
Matt Banaszynski

A Win for Agencies: Positive Contract Changes

Last July, I published an article titled, Outsourcing: The New Frontier that discussed the benefits of outsourcing. In that article, I discussed some troubling language contained in the contract (at that time) of one of these “outsourcing” companies, ReSource Pro. In the article, I mentioned that the contract ReSource Pro has their clients (e.g., insurance agencies) sign was not in the best interest of agencies. One example of troubling contract language states: “The Client agrees that the s...