Two for Tuesday Header
In This Issue:
Fireman's Fund Personal Insurance Transition to ACE
Disclosing New Real Estate Options
Special Feature: What is a Caliper Profile
Additional Items:
Parting Shot- Win Maui Jim Sunglasses!
Trivia - Answers and Winners
Last Week's Most Clicked
Sale of the Week

Fireman's Fund Personal Insurance Transition to ACE
By Aimee Fawns, Director, Big "I" Markets
Fireman's Fund sold their renewal rights to ACE Group on April 1, 2015. With the sale finalized we're able to communicate how this will impact our Big "I" Markets policies. Please read in its entirety below, paying close attention to the information and any links embedded. If you have any questions please contact me at or Nancy Doherty at

Throughout this transition we are striving to ensure that your experience, and that of your clients, continues as seamlessly as possible. A key part of this is providing you with the information you need to keep your customers informed about what's happening.

As new information is received or develops we'll communicate via Two for Tuesday as well as in the Product News and Updates area on the login screen of and the Affluent Program - New Business product page in the personal lines menu once you log in to

New Business
As of April 1, 2015 Fireman's Fund is no longer accepting new business. This includes new home purchases that are unable to be endorsed on an existing Fireman's Fund policy for any number of reasons. If we are unable to process your endorsement request we will notify you via your insured's quote detail. An ACORD application will be required to submit the risk to ACE.

If you have a new business quote that was issued prior to 4/1/15 with an effective date less than 30 days in the future, it will remain eligible to be written as is with Fireman's Fund. We are unable to modify the quote, but can issue the policy and then process endorsements to amend coverage.

Coverage for existing Fireman's Fund policyholders will continue until their policies are non-renewed at expiration in accordance with state law. We expect this process to begin with policies expiring in the third quarter of this year in most states, at which time ACE is expected to make offers of coverage to most Fireman's Fund policyholders.

The renewal conversion process with Big "I" Markets will go as follows:
Commission & Policy Administration
Commission rates will be paid in accordance with the agreements of the carrier who is writing the coverage. As commission rates vary based on the state and line of business please contact us with specific questions. Be sure to advise the specific account, state, and line of business for a faster response.

Claims & Risk Services
The claim reporting procedures remain the same; you can continue to use Fireman's Fund claim reporting options, including online, telephone (888 FIREHAT), and fax contact numbers found on You may also contact ACE's claims team by phone: (800) 945-7461 or by email: Please be assured these numbers will not change throughout the transition, and either method will direct your claim to the appropriate claims team.

Legal Notifications to Policyholders
As required by law in certain states, Fireman's Fund has begun sending notifications to policyholders that Fireman's Fund is withdrawing from all personal lines insurance business in those states. They sent the first notification of this type on March 13, 2015 to policyholders in New Jersey. Going forward, we'll notify you in advance of when these messages are being sent in each state so you're prepared for any questions your customers might have. Note, one renewal notice will be sent for each policy number the insured has with Fireman's Fund. Please watch Two for Tuesday and the pages on Big "I" Markets for this information.

Additional Information
Please click here to view the Fireman's Fund Conversion: Frequently Asked Questions - 1st Edition. Again, please pay close attention to future editions of Two for Tuesday, the login page of and the Affluent Program product page once you log in to

Though Big "I" Markets will make every effort to post all renewal quotes to your insured's quote detail, we highly recommend running an expiration report in your agency's agency management system and follow it closely. If a renewal offer hasn't been posted within 55 days of the expiration date please post a message asking for the status. It is very important to remember as the sub-producer of the policy your agency is responsible for the complete review and interpretation of coverages offered and/or missing. Big "I" Markets cannot and will not be responsible for the thorough review and comparison of your insured's Fireman's Fund and/or ACE policy(ies). A sample policy of ACE's Platinum Portfolio is available upon request.

Have a Fireman's Fund direct appointment but will not become an ACE appointed agent?
Big "I" Markets is very experienced in moving books of business from agents who have lost their appointments, rolling nearly $1MM in premium from Fireman's Fund terminated agents last year alone. We will offer the same opportunity to Fireman's Fund directly appointed agents who will not become an ACE directly appointed agent. Please contact Nancy Doherty at or 703-706-5389 to explore this option.

About ACE
With operations in 54 countries, $36 billion in capital, and ratings of AA from Standard & Poor's and A++ from A.M. Best, ACE is one of the largest and strongest insurance companies in the world.  
Special Feature:
What is a Caliper Profile?
By Elif Wisecup, Director of Marketing of Big I Advantage®

The Caliper Profile is a scientific instrument for in-depth personality assessment and job matching, and it is the foundation of Caliper's work.

The Caliper Profile has been validated by nearly a half-century of research and measures over twenty-five personality traits that relate to job performance.

Caliper consultants analyze those traits in a variety of combinations to advise you on: hiring someone new; improving employee performance; building more effective teams; and working to take your company to the next level.

It can be taken online or in paper format, and it provides clear, objective information on an individual's strengths, limitations, motivations and potential. Since it was first developed, the Profile has undergone continuous refinement, and ranks today as one of the most advanced tools for matching personality to job performance.

The Caliper Profile is part of a process of gathering information about an individual's natural strengths, motivators, and potential to succeed in a particular role. Other factors to be considered in any important personnel decision include: impressions conveyed in interviews, a review of past performance, and referrals from former supervisors. Your Caliper consultant will work with you to help you determine appropriate direction and how to best serve your hiring and development needs.

Learn more about your exclusive Big "I" member discount on Caliper tests and other services at  
Disclosing New Options for Real Estate E&O
Real Estate agents can be sued for a variety of reasons. Most of them start with “Failure to…” followed by Disclose, Recommend, Properly Advise, Identify, Explain, or Comply. Failure to disclose is the biggest of these, easily accounting for half of all buyer initiated lawsuits. Agents that demonstrate their expertise and advise their real estate clients on the top risks they face are better positioned for successful, long-term relationships.

A comprehensive risk management strategy for real estate agents and brokers includes prevention (risk reduction techniques), early detection (immediate reporting of claims and even potential claims) and treatment (E&O insurance). Common sense risk reduction techniques can lower the chances of a claim happening in the first place. If a claim does occur, treatment comes in the form of immediate reporting and a solid Errors and Omissions policy backed by experienced claims handling; because claims happen, sometimes even to good people who have tried to do everything right.

Top Risks:
Failure to Disclose and/or Misrepresentation: The overwhelming majority of claims against real estate agents and brokers fall into this bucket. The reason for this is simple- there is a natural and innate reluctance on the part of a property seller to reveal facts about a property that might impede the sale or at the very least lower the potential sale price. Examples include: agent-owned property transactions; foreclosed and short sale property transactions; dual agency transactions; and errors in marketing a property.

Other common claims include bodily injury/property damage and acting outside of one’s area of expertise. In addition to having a risk management plan in place, immediate reporting of claims or even potential claims is critical in managing results.

Early Detection- Reporting
Helping clients to understand the importance reporting claims and potential claims immediately is critical. There is an understandable reluctance to report incidents that may give rise to claims for fear that simply reporting an incident will lead to increased insurance premiums in the future (most of the time this is not the case), but letting them fester is a bad call. We have countless examples of claims that were only reported after they blew up, but for which we could have achieved great results if only we had been brought in at the outset. Handling claims and potential claims is an E&O carrier’s job. Report claims and potential claims immediately.

Treatment- Real Estate Errors and Omissions Policy
Despite best intentions, people make mistakes. In the errors and omissions world, the saying “to err is human, to get sued for it, pretty much a given” has a lot of truth. The right Real Estate Errors and Omissions policy will best respond to the claims unique to real estate agents and brokers.

Travelers has been offering real estate agent E&O coverage since 1956. Real Estate Agent / Property Manager E&O is flexible enough to cover a wide variety of clients in an ever-changing environment. On top of the great coverage, service, and experience you expect from Travelers, now they are offering 2 year policies and $0 deductible options.

Check out these flyers and checklists to help you sell coverage to your clients. The Real Estate Agent / Property Manager E&O program is available through Big "I" Markets in all states except CA, HI, and LA.  
The ISO CGL Property Damage Exclusions

May 6, 2015; 1:00 to 4:00 p.m. Eastern Time
$79 - Click here to register

The purpose of this webinar is to provide information about a very important element of coverage critical to building service providers, contractors, insurance agents, claims adjusters and subrogation units.

At the conclusion, participants should be able to: understand the primary purposes of CGL PD coverage and exclusions; understand the grant of coverage found in the language of these exclusions; understand the distinctions between ongoing vs. completed operations within the context of the exclusionary language; understand the historical significance and current application of "broad form property damage" and better serve insurance purchasers, particularly in the service and construction industries. VU webinar questions can be sent to  
Remember that you can view the following webinars 24/7 by checking out the BIM Webinar Library. To do that log onto Big "I" Markets and click on "Publications".
  • Personal Liability Trends - Fireman's Fund
  • TravPay
  • Commercial Lessor's Risk
  • Affluent Homeowners
  • Travelers Select Products (series)
  • Travel Insurance
  • Community Banks
  • XS Flood
  • Real Estate E&O
  • RLI Personal Umbrella
  • Affluent Homeowner
  • "Oh, by the way...Flood Sale"
  • Habitational
  • Non-standard Homeowner
  • Student Housing
For all you folks who recently registered for Big "I" Markets, remember you can participate in a webinar from the comfort of your office to help you learn how to navigate around the system. Every Thursday at 2:00 p.m. EST we'll show you how to navigate the Big "I" Markets platform, including how to submit a quote! Register for the webinar by sending an email with your name and company name to Include "Website Navigation Webinar" in the subject line or body of your email. A recording of this webinar can be found under "Publications" after logging into Big "I" Markets.
Student of the Industry Parting Shot
Ratios of PUPs to Homeownerss
By Paul Buse, President of Big I Advantage

Contest: Win Maui Jim © Sunglasses for The Highest Ratio

We estimate Personal Umbrella Policy ("PUP") Premiums in USA in 2013 were $2 to $3 billion. That is $15-20 of PUP premium per about 122 million householders in the USA. For comparison, we know premiums for homeowners is $659 per household and personal automobile is $1,476 per household. The average ratio of PUP to Homeowners is just over $3 of PUP to $100 of home.  

Click Graph for larger version

Source: A.M. Best Aggregates and Averages and PUP Rate Filings

Maui Jim Sunglasses Contest: We believe, many personal umbrellas go unsold and that not only creates an E&O risk, it creates a sales and service opportunity. We also believe some agents sell a lot more umbrellas than the average. Our partners, RLI Insurance Company who is our primary endorsed PUP provider, has agreed to underwrite a small contest with Two For Tuesday readers. If you feel your agency has a high penetration of personal umbrellas, email me with your 2014 personal umbrella premiums and your homeowners premiums. The winner will receive their choice of any Maui Jim, non-prescription sunglasses. No figures will be published without the express permission of those competing but we will want to also learn what drives the winner's high penetrations. We, of course trust you, and we will use the honor system in the self-reporting of your premiums. We will require the winner to provide a general summary and tips on your agency's approach in offering PUPs.

Email responses to

Two for Tuesday Trivia
Be one of the first five with the correct answers and win an envy-inspiring TFT Trivia T-shirt. Don't forget to answer the Tie Breaker!

Stephanie Grey (MS), Cathy Crowe (IA), Kay Comeaux (LA), & Ed James (FL)
1. Half of all RVs are manufactured in what single US county? - ELKHART COUNTY, INDIANA
2. What is the oldest commission naval vessel afloat? - USS CONSTITUTION "Old Ironsides"
3. What was the first Federal law to be signed electronically? - E-SIGN ACT (Electronic Signatures in Global and National Commerce Act)

What country was first associated with The Easter Bunny? - GERMANY
Last Week's Most Clicked Links
Here are the top three items that got BIM agents clicking from our last edition... see what you missed!
  1. Gold-plated eleMMent Palazzo RV
  2. 1917 Packard Twin Six Motorhome
  3. ACE Marine - Coming Out of Lay-up Suggestion Sheet  
Big "I" Markets Sale of the Week
Congrats to our agent in Arkansas on a habitational apartment sale of $7,540 in premium!  

Tuesday, April 7, 2015

Featured Products: 

Follow Us:

TFT is authored by Michael Welch
Big "I" Markets Marketing Assistant