See You In September! - Ibans

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See you in September!See page 18-19PRESIDENTS’MESSAGESWHAT DOCUSTOMERSTHINK?HELPINGCOMMUNITIESADAPTSAVING ATLANTICBROKERS TIMEAND MONEYSummer 2013

Table of ContentsPresidents’ Messages .1-8Message from the PresidentIBANBpany side, we will no longer purchaseyour product for our clients.What Do Customers Think? .10IBANB CEO Report .12At previous meetings I have attendedthis issue has been discussed in somedetail with some of our insurer partners.It seems the same issue comes up yearafter year. The question always seemsto be, “is this a company problem, or isit a broker problem? I believe this is abroker problem and we need to act“NOW”.IBANS Young Brokers Network .14Viewpoint .16IBANS PD Report .20Helping Communities Adapt .22IBANS Executive Directors Report .26Saving Atlantic BrokersTime & Money with CSIO eDocs .30Apples to apples: Common errorsin remarketing accounts .32I dont need a Will. My wishes arestraightforward .34Calendar .40AtlanticInsurance BrokerVolume 15, Issue 2 Summer 2013Published by2289 Route 101 Hwy, (Fredericton)Beaver Dam, NB E3B 7T9Phone: (506) 450-9768Fax:(506) 450-2546Email: pcole@nb.aibn.comPublished four times per year.For advertising sales and deadlines call:Peter Cole, PresidentPartners Publishing Ltd.pcole@nb.aibn.com1-866-450-9768 (506) 450-9768Graphic Design/LayoutAlicia Wilkins, Partners PublishingThe opinions and viewpoints expressed in the AtlanticInsurance Broker may not be those of the Associationand its members.Atlantic Insurance BrokersGeordie Lamb, CAIBPresident IBANBAs long as we continue to do businesswith insurance companies who alsohave a direct arm competing against us,then we have no one to blame but ourselves!“BROKER STRENGTH”If you remember back to the annual broker convention of 2011 in Saint John,NB, you will remember our theme,“Mission Possible” - Keeping ourChannel Strong!We are going to look at succession/perpetuation again, but from a differentangle. It is now time for a call to armsfor all independent brokers to live bythis theme.“What Can We Do”If this trend continues, we will not haveto worry about TD, RBC, etc. We willhave to be concerned with the companies we deal with who do not have adirect arm, saying enough is enoughand stop dealing with brokers.The next thing you will see are thesecompanies setting up their own shopacross the street because we continuedto support direct writers and not them.They will then become our direct competition and not our partners, and Idon’t think any of us want this to happen.Just so it is kept fresh in your mind, We cannot afford to let this happen, soyour options include: 1) Sell broker to what can we do? We do what is in thebest interest of our own business, ourbroker; 2) Keep it in the family.channel; “KEEP IT STRONG” theI think the most important thing to look choice is yours.at is who are we buying our productfrom? I think we need to be more con- Last thing to remember is you are notcerned with some of the insurance com- alone, as there are many brokers andpanies we do business with, rather than insurer partners that you can speakthe banks. Is it time to stop buying from with. They are willing to offer conficompanies who have a separate direct dential advice to anyone looking for it.operation, who are our direct competi- gtion in our own backyard? It is time toGeordie may be reached atstand up and say “NO MORE”.(506) 634-1177 or via email at,If your company wants to have a direct geordie@carnaghantaylor.com.arm that is in competition with us onone side and then expect us to continuepurchasing your product from the com- 1 Summer 2013

LA FORCE DES COURTIERSIMMÉDIATEMENT.Vous vous souvenez sans doute du congrès des courtiers d’assurances qui a eulieu en 2011 à Saint John, au NouveauBrunswick et qui avait pour thème« Mission possible » pour ce qui est degarder le réseau de courtage fort.Tant que nous continuons à faire affaireavec des compagnies d'assurance quiont un canal de distribution en concurrence directe avec le nôtre, nousn’avons personne d’autre à blâmer quenous-mêmes!Aujourd’hui, nous allons encore envisager la relève et la succession, maisd’un point de vue différent. D’ailleurs,nous en appelons à tous les courtiersindépendants de suivre ce thème et d’agir en conséquence.Si cette tendance continue, nous n'aurons plus à nous soucier de TD, RBC etleurs semblables. Ce dont il faudra seméfier, ce sont des compagnies aveclesquelles nous traitons et qui n'ont pasde canal de distribution direct, mais quidécident que c’en est trop et qu’elles neveulent plus faire affaire avec lescourtiers.« Ce que nous pouvons faire »Donc, pour vous rafraîchir la mémoire,vous vous rappellerez que vous avezdeux possibilités : 1) Vendre votreagence à un autre courtier; 2) La garderdans la famille.Je pense qu’il faut d’abord et avantvoir de qui au juste nous achetons nosproduits. Et je crois qu’il faut se soucier davantage des compagnies d'assurance que des banques. N’est-il pastemps d'arrêter de s’approvisionnerauprès de compagnies qui ont un canalde distribution à part, directement enconcurrence avec le nôtre, dans notrepropre cour pour ainsi dire? Il faut selever et dire « ÇA SUFFIT! »Et que se passera-t-il? Ces compagniesse mettront à avoir pignon sur rueparce que nous continuons à favoriserles assureurs directs plutôt qu’elles.Elles deviendront alors des concurrentsdirects, et non des partenaires, et jepense qu'aucun d'entre nous ne veutque ça se produiseNous ne pouvons certainement pasnous permettre une telle situation. Quefaire alors? Agir dans le meilleurintérêt de nos propres entreprises et denotre réseau. GARDER UN RÉSEAUFORT ça dépend de vous!Une dernière chose : n’oubliez pas quevous n'êtes pas seul; de nombreuxcourtiers et assureurs partenaires nedemandent pas mieux que d’en parler.Ils sont prêts à offrir des conseils et desavis confidentiels à tous ceux et cellesqui le veulent bien. gGeordie peut être joint au506-634-8273 ou àgeordie@carnaghantaylor.com.Part of the Insurance Brokers Association of New Brunswick’s(IBANB) Broker Awareness Day held on May 8th includeddrawing the name of two MLAs to receive 20 bipper blankets todonate to a charity of their choice. Donald Arseneault, MLA forDalhousie-Restigouche East was one of the MLAs to receiveblankets. These 20 blankets were donated to the RestigoucheCounty Volunteer Action Association (RCVAA) in Campbelltonon May 27th.Qu’on se le dise : si une compagniepossède un canal de distribution qui seveut en concurrence directe avec nouset qui, par ailleurs, s’attend à nous vendre des produits nous allons arrêterde faire affaire avec elle.À d’autres rencontres auparavant, j’aieu l’occasion de débattre le sujet enlong et en large avec certains de nospartenaires assureurs. Il semble que laquestion revienne sur la table annéeaprès année : « Est-ce un problème decompagnie d’assurance ou decourtier? » À mon avis, c'est un problème de courtier et qu’il faut agirAtlantic Insurance BrokersIn the photo (Left to Right): Howard Haley, President RCVAA ;Suzanne Richard, Broker at Theede & White Insurance; RachelleOuellette, Executive Director RCVAA; Andrew McNair, CEO ofIBANB; Donald Arseneault, MLA for Dalhousie-RestigoucheEast. 2 Summer 2013

Message from the PresidentIBANSThe question I keep asking myself is this– where should the responsibility lie?Should the responsibility remain withbrokerage owners or should the responsibility become one of a regulatorybody? There are several approaches thatcould be taken in the event that continuing professional education becomes arequirement but before implementationis even considered it is important to lookat the benefits to the profession before adecision can be reached.Sarah Amirault, CAIBPresident IBANSThe Value of ContinuingProfessional EducationProfessional development and life-longlearning are important cornerstones inprofessional practice. Technologicaladvancements and rapid change ensurethat professionals must actively participate in continuing education in order toremain competent and current in theirchosen profession.This very premise leads me to questionthe relevance to the profession of insurance brokers and why continuing education is important to our future. In NovaScotia all broker professionals arerequired to hold a license and theprovince has established requirementsfor the three levels of licenses in place.Currently in Nova Scotia, continuingeducation is not mandatory; so how, as aprofession, do brokers ensure that weremain current with rules, regulationsand new product offerings to clients? Todate the responsibility rests entirely withbrokerage owners to ensure their staffhave the skills, knowledge and attitudesto be a competent insurance professional.Atlantic Insurance BrokersWhat I want to share with you areresearch findings that support the benefits of mandatory continuing educationin professional practice:1. Research supports the idea that voluntary participation is unrealistic and thosewho need it most may be the ones leastlikely to participate.2. There is some evidence that welldesigned programs can influence effective practice.3. Mandatory continuing education protects the public from incompetent or outof date practitioners.4. A license to practice implies consentto be governed by the rules of the profession. When individuals choose a profession they adhere to the norms of thatprofession.5. Mandatory continuing education hasits imperfections but is generally considered a better alternative to examinationsor practice reviews. (Brockett andLeGrand 1992; Little 1993; and Nelsen1988).I acknowledge that with the introductionof rules there come challenges; however, these challenges should never be thereason not to carry through with a concept or idea that help enhance professional standards and consumer confi- 4 dence. Rather than debating the mandatory issue, I think the focus should be onalleviating the problems associated withcontinuing professional education as atool for improving professional practice.Our attention needs to be directed atfinding solutions which address theissues of: multiplicity of providers, lackof standards, who should pay, whoshould determine the level and frequency of participation and the types ofactivities which count for continuingeducation.Moving forward with continuing professional education means developing aframework where the learning is: accessible, affordable and of high standards.This will require the collaboration ofproviders approved to deliver professional education. Continuing professional education needs to be rooted inand viewed as an expansion of professional education. With lifelong learning, competence evolves over time andbecomes part of a continuum of learningand it also develops a mindset wherecontinuing profession education is agiven.To be successful in the future, brokerprofessionals need to experience a transformation where we become motivatedseekers of education. Ken Reightler Jr.,former astronaut and many others likehim, have said, “Education is the key tosuccess”. History has shown us thesevery wise individuals have been provencorrect time and time again. Educationhas liberated people and given them theknowledge, skills and attitudes to besuccessful. I do believe in sage adviceand adhering to it will ensure our success not only as business owners butalso as insurance professionals. gSarah may be contacted at(902) 245-4741 or via emails.amirault@fairway.ca.Summer 2013

Message from the PresidentIBAPEIcient and environmentally good functionality for all in our distributionchannel. I for one am very excitedabout this time in our industry, the marketing capabilities right now and thereach that can be obtained even for asmall firm are nothing short of amazing. This new environment is allowingbrokers to be much more efficient andfocus on what our purpose has alwaysbeen, to sell insurance policies!Dan McInnis, BBA, CIP, CAIBPresident IBAPEII write this article today contemplatingall the changes happening in our industry in the last few years, technology,products and underwriting, just toname a few. Then I think about all thechanges heading our way, telematics,automated sales and major onlineinvestments. Our well known operating environment is changing and veryfast.“If the rate of change on the outsideexceeds the rate of change on theinside, the end is near.”- Jack Welch.This is an interesting comment by Mr.Welch, but I dare say we, as brokers,should take heed. I have no doubt thatbrokers will rise to the challenge butthe time is now to be proactive; otherwise, I’m afraid you will have to bereactive which is never a good place tocome from.If you haven’t, upgrade your onlinepresence, engage in social media orembrace companies’ new functionalityconstantly being developed, althoughnot perfect efforts are being made,things like eDocs will be a pretty effi-Atlantic Insurance BrokersThere is not much changing in theinsurance climate on PEI. A decisionon the use of credit score underwritingreview by the provincial governmenthas been delayed so they can study further. I will be in Ottawa in June alongwith Karen Doiron for the annual HillDay with IBAC and will report on thisnext issue.On another note I would like to wishPhilip Whidden all the best on hisrecent retirement from Hyndman &Company Ltd. Philip’s career started atMorton Dew Limited in July 1975when Gordon Full left Morton Dew togo on his own. Philip’s father, whoworked for Sun Alliance, knew Mortonwould be looking for someone andarranged an interview. The rest washistory. Philip says he always wantedto be in the insuranceindustry as he thought hisfather had a great job. Hestarted when he was 23and 38 years later he isretiring.low income housing that was just cancelled for three fires in the same week.I had two days to find coverage, I managed to do it and still have the client’s15 years later. Changes over the yearsare many. I started in the businesswhen our agency could only write 20new policies a month. No one wantednew business. Consolidation of insurance markets has been a big changealso, we used to use 15 insurance companies for personal lines and now weare using 6. Mostly, I will miss the people; I really enjoyed the interaction. Ihave no firm plans for retirement buthope to play a little golf, may get backinto curling and a few trips with themotor home. My father is still active inTruro, son Andrew in Victoria BC,which we will visit in May and sonChristopher and grandsons inOromocto NB. I believe I made theright choice with a career in insurance,as that was what I had, a career, not justa job.”On behalf of everyone in the InsuranceIndustry all the best Philip you will begreatly missed. gDan may be contacted at(902) 566-5534 or via email at,danmcinnis@peake-mcinnis.comPhilip says “highlights ofmy career have been to beemployed by Hyndman &Company and having thedirection of Fred Hyndmanover these many years. Noreal unusual insurance stories, one of hardest thingswas placing coverage for 6 Summer 2013

Message from the PresidentIBANLocally we are eagerly awaiting ourrequest for a meeting with MinisterNick McGrath. It will be an opportunity to get to know him and let himknow what we are all about. It will beinteresting to hear his take on itemssuch as usage based insurance, andupdating the insurance act to bring it inline with the 21st century.Broker Identity ProgramBasil Crosbie, B.Comm (Hons.), CAIBPresident IBANWill winter turn to summer, or will wehave to deal with the damp cold allyear long? As I write this article, theweather here in Newfoundland hasbeen erratic. We have had a few nicedays, but it has generally been cold anddamp.I will touch on a number of subjectssince my last report.Political ActionHill Day in Ottawa is fast approaching.We are working diligently to get ourappointments booked. We currentlyhave nailed down five appointmentsand are in contact with our other MPsand Senators who we have not beenable to get an appointment with yet. Inthe last number of years we have beenvery successful in seeing the majorityof our MPs and Senators and have noreason to believe this year will be anydifferent.Additionally, we have a new MP representing Labrador. Congratulations toYvonne Jones on her recent by-electionvictory. I am confident that she willrepresent Newfoundland and Labradorwith vigour. As Ms. Jones is new to thefederal scene, we are hopeful to get ameeting with her. It is an opportunityto build a new ally.Atlantic Insurance BrokersThis past spring we continued with ourGoal of the Game contest with the ICECAPS to promote the BIP brand. Wecontinued to see sold-out crowds andthe audience genuinely seemedengagedduringtheevent.Unfortunately, there were no winnersthis year.On another note, we struck an agreement with Memorial University tohopefully create some brand awarenessand general awareness. We have giventhem an endowment that they can useto run a BIP scholarship annually. Timewill see if it pays off. No matter what,it is an investment in our youth.We also just recently got to read ourreport on social media strategy whichwe commissioned. It had quite a lot ofinformation in it. It was a lot to digestand will be interested to see where wego from there.TechnologyBill Simms continues as our representative with CSIO. He assures me thereare exciting things coming down thepipe. Brokers should soon see the benefits of eDocs as various insuring partners are about to role this technologyinitiative in the coming months. Tothose companies, I want to extend congratulations and offer my sincerethanks. 8 EducationWe just recently had 42 students writetheir CAIB exams. We eagerly awaittheir results. I am confident the students have done well.Education goes on a hiatus through outthe summer, but I am glad to announcewe have settled on Monday September23 as our date for our annual E&Oseminar. I encourage all our membersto take advantage of this offering.MembershipOur membership numbers remainsteady. We continue to reach out tothose on the outside looking in, buthave had no nibbles recently. I encourage all our members when they seefriends/colleagues who are not a member of IBAN to reach out and suggestthey join. Together we are stronger.MiscellaneousOur Young Brokers Network host theirfirst ever softball fixture/tournamenton June 15. YBN President JasonSharpe assures me it will be a greatevent.Our convention returns to Terra Novathis year. We host the event on August22 and 23. It promises to be a “time”.I look forward to seeing many of youthere, you will not be disappointed.We host the IBAC AGM September18-21 this year. For those of youattending, visiting Newfoundland isalways a unique experience. Our convention committee has a great eventlined up. I look forward to seeing theIBAC Governors and our counterpartsfrom the rest of the country. gBasil may be reached at(709) 758-8270 or via email at,basilcrosbie@crosbiejob.comSummer 2013

What Do Your Customers Think?determine your survey goals, developthe questions, send it to your databaseon your behalf and then present youwith the final results.Wouldn't it be great to know the demographics of your customers? What theythink about your company and/or products? Which of your competitors theylike and why? And just think about thecomments you will get when you askopen-ended questions. Your customersare apt to be more honest when fillingout an email than face to face or on thephone.Doug DaleyKiers Marketing GroupWant to know what your customersthink about you? Ask them, and thebest way to ask a whole lot of them atthe same time is through a survey.A survey is a great way to find out whoyour customers really are, what theythink about doing business with youand their suggestions to make yourcompany better.The absolute best way to conduct afull-blown consum

Volume 15, Issue 2 Summer 2013 Published by 2289 Route 101 Hwy, (Fredericton) Beaver Dam, NB E3B 7T9 Phone: (506) 450-9768 Fax: (506) 450-2546 Email: pcole@nb.aibn.com Published four times per year. For advertising sales and deadlines call: Peter Cole, President Partners Publishing Ltd. pcole@nb.aibn.com 1-866-450-9768 (506) 450-9768 .

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