PGI Commercial Lines

Many agents are aware that there is are Commercial Cyber Insurance products available to protect small business.  However, these same agents are often reluctant to promote those products out of a lack of understanding of the need for small businesses to carry the coverage.  How bad could a cyber event be? In truth, a cyber event can be very expensive and disruptive to a small business.  In particular, this is because so few small businesses take the protective steps to safeguard their files and other data that bigger firms take.  This makes them targets. A ransomware attack can literally cripple a small business.  In this type of cyber breach a hacker takes control of a business' computers and systems and holds them hostage, often for a large ransom.  In some cases the hacker encrypts the data, other times the hacker simply denies access to the systems.  Either way, your business isn't running unless you bypass the hack, or pay the ransom. Good cyber s...

Many PGI agents have a niche target market for commercial transportation risks.  This is no surprise, as these are often high premium policies that require specialized knowledge and carriers in order to write effectively. Did you know that there is a continuing education designation that is specifically developed for agents who specialize in transportation risks?   IRMI (the International Risk Management Institute) offers the TRIP (Transportation Risk and Insurance Professional) designation curriculum.  Obtaining this designation will be an excellent way to differentiate yourself as a professional in the commercial transportation vertical. The TRIP designation can be obtained through IRMI for $99 a class (5 classes total to earn the designation). For More Information CLICK HERE . Additionally, IRMI is hosting the 2021 Transportation Risk Conference on July 14 & 15 .   Click here for the conference Agenda & Speakers.

 A quick video explaining the differences between Employees, Contractors and Subcontractors, and who's covered on your workers compensation policy.  (And who's payroll may be picked up at audit!) Pinnacol - Employees, Independent Contractors, and Subcontractors

You'll hear the Commercial Lines team at PGI preach about developing your "niche" or your "majors / minors" in order to drive success in Commercial Lines.  There are many reasons to do this...  here's a short list of benefits: 1. Working with a carrier first to develop a strong underwriting partner who can present quality quotes in your niche. 2. Knowledge of the risks inherent in the business along with an understanding of the information you'll need to gather. 3. Being able to "speak the language" and drive referrals. This is not an exhaustive list... read this article about benefits of developing a niche, as well as some ideas about how to start identifying your niche. 9 Steps to Establishing Your Insurance Niche  

  Premier Group is an IGNITE agent with Liberty Mutual.  Because of this agent status Liberty Mutual is offering half priced Producer and CSR schools to all PGI agencies.  These programs are deep dives in the skills needed to become effective commercial lines Producers and CSRs. Normally these classes cost $2,000 (for producers) and $900 (for CSRs).  Through PGI these course are now available for $1,000 (for producers) and $450 (for CSRs).  Just another way PGI is bringing you SO MUCH MORE! For more info: Producer Development Program CSR Development Program Contact your Premier Group CL Account Executive for more information. Additionally, Liberty Mutual offers a wealth of free on-line agent trainings, which can be accessed on the Agent Learning Center within the agent portal.

Employers Insurance is offering PGI agents 20% commission on Workers Compensation policies under $25,000 in premium with effective dates from April 1st, 2021 through October 1st, 2021. Click Here for More Info!  

This is a great article on persuasion, an art that we must all use continually in our lives, but especially when it comes to the sales cycle.  During the sales cycle you must persuade a prospect to give you time for a meeting, you must persuade a prospect to choose your product and services over a competitor, and year after year you must persuade your clients to remain your clients.  This article is a great reminder that the skill and art of persuasion has not changed, there are no new tactics, and mastery of persuasion is still essential. Enjoy! Harvard Business Review - The Art of Persuasion Hasn't Changed in 2,000 Years

  CARRIER UPDATE AMTRUST WORKERS COMPENSATION OVERRIDE AmTrust Financial Services is offering 21% new business commission on all Worker's Compensation policies bound through 7/1/2021!  This is effectively an 11% override on their standard 10% WC commission. Criteria for 21% commission: Must be a Worker's Comp Policy Must be New Business (not renewal) Must be $25,000 or less in premium Must be bound with an effective date of 3/1/2021 through 7/1/2021 Must be an AmTrust appointed agent Read more here.

Benefits of Using Carrier Service Centers for  Small Business Clients Many insurance carriers offer service centers for small business clients.   You should be utilizing them... Here's why -  Service Centers: Are an extension of your agency. Offer extended business hours, so your customers have access to live service when your office is closed. Are experts in billing, policy service, processing endorsements, certificates, auto ID cards, etc.  Round out accounts on your behalf. Client satisfaction is higher in carrier service centers than when serviced by the agency staff!!! These services allow you and your team to focus on prospecting, selling, and maintaining the advisory relationships with your clients.  Which leads to more opportunities, more sales, and higher retention for your agency... ergo faster growth! Here's a link to a short (1 min / 40 sec) video for Liberty Mutual's Service Center, with agent testimonials:   ***Note, many carriers of...

  CARRIER UPDATE - CHUBB CYBER ENHANCEMENTS Chubb Small Business is pleased to announce new enhancements to the Chubb Marketplace! Now, when completing a Cyber Enterprise Risk Management (Cyber ERM) or DigiTech ® Enterprise Risk Management (DigiTech ® ERM) quote on the Chubb Marketplace, you will be able to easily assess your small business customer's cyber exposures with the Chubb Cyber Index ® . The Chubb Cyber Index provides real-time insight into diverse cyber threats and how they may impact different businesses based on their company size and industry. This interface gives you the tools to help your small business customers understand the potential costs of a cyber incident by sharing industry-specific cyber scenarios, forecas...

 COVERAGE INSIGHTS A terrific 3 minute read on Business Income & Extra Expense coverage. Click here:  Are You Covered in Case of a Business Interruption?

COVERAGE INSIGHTS An oldie, but a goodie in explaining basic commercial policies -  Click here:  The Seven Insurance Policies for Small Business

CARRIER UPDATE - OVERRIDE LIBERTY MUTUAL Liberty Mutual is offering a 5% override, on top of the ongoing 2% override,  on Small Commercial in Q2 2021! THAT MEANS 7% ADDITIONAL COMMISSION IN Q2!

 CARRIER UPDATE - USLI - APPETITE These are the Co mmercial Non-Profit Industries USLI is having the highest hit ratio / binding success: Social Services  Animal Shelters/Rescues, Counseling/Mental Health Services, Youth Programs including Home School Co-Ops and After school programs, Residential Housing, Food Banks/Soup Kitchens, Youth Centers, Community Centers and Thrift Stores. We can offer a package and include Professional Liability and Abuse and Molestation. Charities and Business Association Guard Support Groups, Chambers of Commerce, Foundations, Parent/Teacher Organization and Charitable and Fundraising organizations. Blanket Special Events Endorsement :  This past year many events were cancelled due to the pandemic.  Our blanket special event endorsement allow these organizations to keep coverage for their events all year without the hassle of scheduling or rescheduling cancelled events.    Houses of Worship Comprehensive coverage sp...

  CARRIER UPDATE - OVERRIDE - CNA CNA is offering a 5% override on Small Commercial through the end of 2021! The following lines of business are eligible for the override: CNA Connect Worker's Compensation Commercial Umbrella This override will be paid in Q1 2022 as a lump sum on written premium bound in 2021. CNA SMALL BUSINESS HIT LIST

  Important Legislative Update     Potential Pinnacol privatization The bill to separate Pinnacol from the state will be introduced today and faces certain death in its current form. House leadership would not allow any Democrats to sign on as co-prime sponsors and stated Monday their opposition to the bill this year. Their reasoning was primarily that the state no longer faces a fiscal crisis, so it does not need to divest its interest in the company. They also indicated concern about the state being left without a carrier of last resort (which reflects a ...

 CARRIER UPDATE Stay up to date on Liberty Mutual... ________ To view this email as a web page, go here.   March 2021 With professional development in high demand, we're happy to offer Liberty Mutual Knowledge Bites . ...