The ‘Internet of Things’ Could Be an Insurance Gamechanger

Seventy percent of insurance carriers agree that the Internet of Things (IoT) is important to their overall strategy, according to a 2018 LexisNexis study. But a recent EY report found that only 36% of carriers are leveraging new data sources.

This kind of data transfer from client to company relies on the IoT, an interrelatediot-1200x1200 system of devices, such as vehicles or appliances, embedded with software or sensors which are connected to the internet to report insights into how we use objects in our daily lives.

There is no doubt that the impact of the IoT on the insurance industry could be revolutionary in auto, home, life and commercial lines. And with more than three-quarters of insurance customers showing a desire to share personal information for faster claims and lower premiums, according to a recent Accenture study, the gamechanger could be just around the corner.

But before the industry can make sense of the tsunami of data flooding into insurance, there are a few kinks to iron out.

Read More

(Independent Agent Magazine)

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Ask Regina

Q. Our insured was in a minor accident driving a U-Haul Ford F650. There was no reginadamage to the truck but there was damage to the other vehicle.

The carrier is referencing the definition of “your covered auto” in which it limits to 10,000 lbs (25,000 lbs by Texas amendatory endorsement) to deny coverage. Is this correct?

A. No, an insured is defined as you or any family member for the ownership, maintenance, or use of any auto or trailer.  The named insured and family members are provided the broadest possible coverage for covered autos and non-owned autos. If there is no exclusion that applies, these persons will be covered for anything that would meet the legal interpretation of the undefined word “auto.” This could include a vehicle of any size or description, as long as it has at least four wheels and is designed mainly for use on public roads.

The adjuster is referring to another part of the policy which has to do with coverage for a newly acquired auto and the automatic coverage provided. The gross vehicle weight applies to newly acquired autos, but this isn’t a newly acquired auto because it is not an auto that you become the owner of during the policy period. The insured was driving a non-owned auto.

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Last Call to Make an IMPACT: Invest in a Cause Committed to Your Livelihood

The deadline to contribute to IMPACT, IIAT’s political action committee, is May 31! With only a week to go, we could use your help to achieve our goal of raising $375,000.

If you haven’t yet, please consider investing in a cause that is committed to protecting you and your livelihood. By contributing to IMPACT, you are supporting pro-business candidates who are looking out for agents’ interests in the Capitol. All of the money raised by IMPACT is contributed to candidates and campaigns that support the independent agent network.

You can log-in to here to view your past donor history and to make a contribution online. You can also print this contribution form or make a donation over the phone by contacting Jill Douglas at 512.493.2454.

We are in the process of putting IMPACT recognition stickers on the name badges for the IIA Annual Conference at the JW Marriott San Antonio. Please, contribute today so we can recognize your contribution at IIAT’s Annual Conference. 

Thank you for your support!

NOTE: The Texas Ethics Commission has strict prohibitions on contributions and expenditures and forbids a corporation or labor organization from making a political contribution or political expenditure. Therefore, IIAT members wishing to make a contribution to IMPACT must do so with a personal or partnership contribution. Corporate contributions are prohibited by law
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Explore Emerging Trends & Challenges with Lloyd’s Rising Leaders – Win $500!

As if there weren’t already enough reasons to attend IIAT’s Annual Conference & Trade, we’re making the conference even sweeter by giving away $1,000 following the Lloyd’s Rising Leaders: Emerging Trends & Challenges panel, on Wednesday, at the JW Marriott San Antonio, 3:30-5:30 p.m.

After the ELITExas community service project, come to the Lloyd’s Rising Leaders panel and hear from agents from two distinguished organizations that lead the Lloyd’s market. They’ll share their experiences, expertise and personal journeys to success. Explore emerging trends, new products, market conditions and challenges that could impact your business.

About the Panelists:

Lucy Straker – Underwriter, Beazley
Lucy joined Beazley in 2014 to establish the U.S. Stand Alone Terrorism book. She spent three years in New York before returning to London to underwrite within the Political Violence team in Lloyd’s. She previously worked at Hiscox on the War, Terrorism and Political Violence account in both the U.S. And London Market.

Chris Metcalf –  Lloyd’s Broker, RKH Specialty
Chris graduated from the University of Hull in 2003 obtaining an Honours Degree in Business Studies. He gained his Advanced Diploma In Insurance (ACII) in 2006 and joined RK Harrison in 2011 to focus specifically on Energy Liability. He was appointed a Divisional Director in 2014.

We’re Giving Away $1K!

Following the presentation, IIAT will give away $500 to two lucky people in attendance. Be sure to fill out the prize entry ticket in your registration packet and attend the Lloyd’s Rising Leaders panel for a chance to win.

Register for the Conference.

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ELITExas at IIAT’s Annual Conference: Selling the Next Gen on the Insurance Industry


Join ELITExas at the conference, June 13-15 at the JW Marriott San Antonio,  to explore sales strategies to connect, communicate with and convince the next generation of insurance professionals.

What does an independent agent do and why should I care? Can you answer that elitexasheader_email-blastquestion at a moment’s notice clearly, concisely and convincingly? Attracting new talent is one of the greatest challenges facing the insurance industry, and to successfully recruit, you need to be able to convey your purpose and mission in a flash.


  • #PitchPerfect: Create a Clear, Concise and Convincing Elevator Pitch for the Insurance Industry and Your Agency
  • Tell A Good Tale: How Storytelling Plays a Crucial Role in Sales and Recruitment Success
  • Show It: How the Video Revolution Has Changed Buyers Forever and What the Insurance Industry Must Do about It
  • 21 Secrets of Million Dollar Sellers: America’s Top Earners Reveal the Keys to Sales Success
  • The Digital Consumer: How Today’s Buyer has Changed and What Your Business Must Do About It
  • ELITExas Night Out – Drinks, friends, food and fun
  • Live, In Concert! Suede – Austin’s favorite cover band

Get More Details

Help Out Texas Foster Kids at the ELITExas Community Service Project
benefiting St. Jude’s Ranch for Children, Texas

Learn More & RSVP to the Community Service Project hosted by ELITExas.

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TDI Hearing on IIAT Request to Extend Work Comp Experience Modifier Deadline

The Texas Department of Insurance will hold a public hearing on a petition IIAT filed to extend the expiration date of negotiated experience modifiers in the National Council on Compensation Insurance (NCCI) Experience Rating Plan Manual for Workers Compensation and Employers Liability Insurance (NCCI Experience Rating Plan Manual).

IIAT wants to extend the expiration date from July 1, 2018, to July 1, 2019.

IIAT filed the petition with the TDI Chief Clerk on April 26, 2018. A copy of IIAT’s petition, the full text of the rule, and statistical plan may be reviewed in the Office of the Chief Clerk of the Texas Department of Insurance, 333 Guadalupe Street, Austin, Texas 78701; or at during the comment period.

To comment on the petition, TDI must receive two copies of the comments by 5 p.m., Central time, on June 20, 2018. Refer to TDI ECase No. 15981.

Send one copy to, or to the Office of the Chief Clerk, Mail Code 113-2A, Texas Department of Insurance, P.O. Box 149104, Austin, Texas 78714-9104.

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Sign-Up Now: Help Texas Foster Kids at the Community Service Project Hosted by ELITExas

Join ELITExas, IIAT staff and colleagues for an afternoon of community service and camaraderie at the annual community service project held on the first day of IIAT’s Annual Conference — Wed., June 13 at the JW Marriott San Antonio.

Wednesday, June 13, 2018
JW Marriott San Antonio
1 – 3 p.m.


There are many issues and setbacks in the foster care system, and it can be a confusingsjrc-texas_letterhead-1-1024x580 and scary experience for a child to go through on their own.

Lend a helping hand by building bikes and packing care packages for Texas foster kids at St. Jude’s Ranch for Children, Texas

Sweet Cases
Create Sweet Cases filled with a hygiene kit, pillow pet, blanket, coloring book and other essentials.

When foster children move from home to home, they’re usually given two trash bags for elitexasheader_email-blasttheir belongings. No child deserves to carry their belongings in trash bags, so Together We Rise sends Sweet Cases to those in need all over the country.

Build a Bike
Construct bike kits for foster kids.

Most teens have a means of transportation, but most foster kids don’t. When foster youth age out of the system, Together We Rise helps provide them bikes so they’re able to get to their jobs and school classes.

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If You’re a Lawyer…

Lawyer reading legal contract agreement disclaimer with magnifyiBy Richard F. Lund, J.D., Vice President, Senior Underwriter, Swiss Re Corporate

If you’re a lawyer, you don’t need to read this. But if not, please read this carefully.

Insurance agents and brokers should be wary of commercial insurance customers trying to impose unreasonable and potentially illegal heightened duties on them. Improvements to state laws have limited the ability for customers to ask agents to make changes to the standard ACORD 24 and 25 Certificate of Insurance forms. Instead, many commercial insurance customers are seeking “guarantees” from their agents and brokers that their insurance policies comply with insurance provisions of their contracts with third parties. These customers are looking to hold their agents responsible if
a loss occurs that is not covered by those policies, regardless of whether the agent had any existing duty under state law.

Case in point: We have seen a recent trend of commercial insurance customers requiring that their agent sign a document stating that should any insurance policies procured by the agency not comply with insurance provisions of a contract to which the customer is a party, then the agent would be liable for any uncovered losses. While this may appear to be straightforward, it actually requires that the agent act as a lawyer without the benefit of having attended law school or passing the bar exam. Consider the following statement contained in a document that was recently presented to a Swiss Re Corporate Solutions E&O insured for them to sign:

”I agree that the above referenced policy/policies meet or exceed the insurance
requirements set forth in the contract provided by (name of commercial insurance
customer). In addition, I agree to provide written notice if and when the policy/policies
ever change to the extent that it no longer meets your insurance requirements.”

The first sentence requires that the agent:

  1. Review a written contract (the insurance policy/policies),
  2. Compare it to the contract between the customer and the third party, and
  3. Provide a legal opinion that the insurance meets all of the criteria set forth in the contract.

In baseball terms, three strikes and you’re out! Unless the agent is also a licensed attorney, they would not have the capacity to provide this legal opinion and, if they nonetheless attempt to do so, they could be subject to penalties for practicing law without a license.

The second sentence requires: 1. notice that is not required by an insurance policy, and 2. that the agent stay in constant contact with the customer to determine if any changes have taken place that would necessitate changes in the policies. This sentence is attempting to take the place of the ACORD Certificate of Insurance, and imposes duties that are not found on those certificates. If the customer attempted to require that they make the change to the certificate, they could be in violation of state law. The sentence is creating legal duties for the agent that they would not otherwise have.

So what should you do if you are presented with this or any similar type of document?

If your customer presents you with a written contract that includes insurance provisions setting forth the types of coverages they are to obtain, you should review them with the customer, clarify any ambiguities, and attempt to obtain the coverages. The general obligation of agents is to provide those insurance coverages requested by their customer, or to notify them if they are unable to do so.

While individual state laws may create greater or lesser duties, this is the agent’s primary obligation. If you are unable to provide the coverages, you must notify them immediately so that they can take appropriate action as they are required under their contract. Remember, you are NOT a party to the contract between the customer and the third party. Your only obligation is to obtain those coverages that your customer has requested, except as otherwise required by state law. In no event should you ever agree to sign any document that would require you to make any legal interpretation about whether or not an insurance policy meets or exceeds a contractual provision.

This article is intended to be used for general informational purposes only and is not to be relied upon or used for any particular purpose. Swiss Re shall not be held responsible in any way for, and specifically disclaims any liability arising out of or in any way connected to, reliance on or use of any of the information contained or referenced in this article. The information contained or referenced in this article is not intended to constitute and should not be considered legal, accounting or professional advice, nor shall it serve as a substitute for the recipient obtaining such advice. The views expressed in this article do not necessarily represent the views of the Swiss Re Group (“Swiss Re”) and/or its subsidiaries and/or management and/or shareholders.
*Richard F. Lund, JD, is a Vice President and Senior Underwriter of Swiss Re Corporate Solutions, underwriting insurance agents errors and omissions coverage. He has also been an insurance agents E&O claims counsel and has written and presented numerous E&O risk management/ loss control seminars, mock trials and articles nationwide since 1992.
Copyright 2016 Swiss Re
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Discover the 21 Secrets of Million Dollar Sellers at Annual Conference


Come to IIAT’s Annual Conference & Trade Show, June 13-15, at the JW Marriott San Antonio, to find out sales strategies from America’s top earners. 

Fortune 50 consultant Steve Harvill will present “21 Secrets of Million Dollar Sellers: America’s Top Earners Reveal the Keys to Sales Success,” a strategic, straightforward, expertly sourced guide to better, smarter, more efficient, and more imaginative sales practices. Packed with tips, tricks, and proven methods of success, this program is a necessity for those who make a living selling anything to anyone.

For over thirty years, Steve has advised high-profile, high-earning organizations such asround-headshot_steve-harvill Apple, Pepsi, Samsung, IBM, General Mills, Allianz, Microsoft, and the U.S. Navy on organizational dynamics and strategic thinking. This work gave him the inspiration and access to gather valuable insights from the best of the best – top sellers who consistently produce a minimum of $1 million in annual sales. During a year spent interviewing 175 sales superstars from seven different industries, Harvill found twenty-one distinct behaviors key to success. 21 SECRETS OF MILLION-DOLLAR SELLERS identifies and explains these behaviors, breaking down each one into easy, effective rules.

This new strategic platform, based on the book and featured in the Dallas Morning News and Business Insider, is composed of 21 custom designed presentations and workshops tailored to each individual client’s needs. Along with the new presentations and curriculum, we have designed a new consulting process aimed at working with companies on the application of these ideas within their existing sales training processes.

Register for the conference.

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Join MarshBerry for a Complimentary Webinar: Applying Active Listening

Is communication more effective with an obstacle in the way, or without? There is an important distinction between “hearing” your prospects and “listening” to them. MarshBerry’s “Applying Active Listening” webinar identifies the eight common listening blocks and helps to identify best practices to overcome them by applying active listening.

Wednesday, May 23
10 – 10:30 a.m. CDT

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