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In This Issue:
Historic Holiday Events
Cold War Programming Flaws
Special Feature: NFIP Changes Effective 11/1
Additional Items:
Parting Shot
TRIVIA! WInners and Answers
Last Week's Most Clicked
Sale of the Week

Holiday Events and Traditions
On Christmas Eve, 1923 President Calvin Coolidge was the first to hold a ceremony lighting the National Christmas tree which was decorated with 2,500 red, white, and green electric lights. There were musical groups that performed including a church choir, the U.S. Marine* Band, and an elaborate Nativity pageant. Every year since (except During World War II) the president has lit the tree or at least the top ornament. In 1954 the ceremony was expanded into the "Christmas Pageant of Peace." General Electric has been designing and donating the lighting since 1963, including LED lights starting in 2007. In 1974 the first living tree was planted, the third of which stood for 32 years.

The holiday season is filled with a wide variety of ceremonies (tree-lighting and others), festivals, small & large concerts, and parades on land and water. With the Event Liability - Philadelphia Ins. Co product on Big "I" Markets you can cover most of them. Philadelphia affords a market for a wide range of special events. They understand that quick quotation turnaround is mandatory in order to meet the specific needs of the special events marketplace and has a team of underwriters dedicated solely to handling special events business.
Primary General Liability Limits of $1,000,000 per occurrence/$3,000,000 Aggregate. Umbrella Limits up to $10,000,000 available (copy of contract required for limit over $2M). Liquor Liability, Hired and Non-Owned Auto, and Inland Marine also available for eligible accounts.

Event Liability is available to Big "I" Markets member agents in all states except Louisiana, with limited availability in Alaska.

*Happy Birthday to the U.S. Marine Corp, - 240 years young today.  
Special Feature:
NFIP Changes Effective November 1
By Elif Wisecup, Director of Marketing of Big I Advantage®

There are several National Flood Insurance Program changes that went into effect Nov. 1, including the revision of the non-residential building occupancy category and required questionnaires for every new and renewed non-residential flood policy. Click here to review a list of pertinent changes published by Selective.

Note one change FEMA made following the Selective bulletin release. The fourth item - Floodproofing Certificates - is now effective 11/30/2015.

Learn more about selling flood insurance with the Big "I" Flood program or start your book roll today at  
Programming Flaws From The Cold War And Today
In 1981 French intelligence learned the Soviets were trying to obtain gas pipeline software to run the new massive natural gas pipeline they were building into Western Europe. The pipeline would provide desperately needed hard currency and could also be used as a wedge against NATO. The CIA slipped deliberate flaws into software which the Soviets were then duped into stealing from a Canadian company. The software worked perfectly in tests and was put into use. Suddenly pump speeds reset and valves opened or closed to build up massive pressure resulting in the "largest non-nuclear explosion ever seen from space" in 1982.

Deliberate or unintentional, flaws in programming can cost more than money. How many stories of poorly performing or hacked website rollouts do you recall? Remember the Mars Climate Orbiter? $125 million plowed into Mars due to a simple conversion error.

Technology Consultant Professional Liability(E&O) through A.J. Wayne & Associates can entertain all types of technology and computer consultants including, but not limited to, the following:
  • Software Developer
  • Web Hosting
  • Training
  • Turnkey Systems Developer
  • Internet Consultant
  • Troubleshooter
  • Search Engines
  • Network Consultant
  • Website Developer
  • E-commerce Websites
  • Programmer
  • Security Consultant
A.J. Wayne has the broadest products available at extremely competitive rates.

  • Broad and basic coverage forms
  • Claims made and reported
  • Duty to defend
  • Defense in addition to the limits is available
  • Copyright / trademark infringement coverage is available
  • Libel, slander and other personal injury coverages are available
  • Punitive damage coverage available where insurable
  • Unauthorized access / hacker liability available
  • Independent contractor coverage available
  • Minimum premium: $1,000 (less in some cases)
  • Limits available: we can offer as low as $250,000 or we can quote $1,000,000; limits above $1,000,000 are available in most cases
  • Minimum deductible: usually $1,000
  • All carriers rated A- or higher
To protect your clients from programming flaws and hackers A.J. Wayne & Associates can entertain all types Cyber Liability & Security Insurance including, but not limited to, the following:
  • Retailers (online & offline)
  • Restaurants
  • Healthcare providers
  • Professional services companies
  • Technology companies
  • Distributors
  • Manufacturers
  • Financial institutions or other financial companies
  • Broad and basic coverage forms
  • Claims made and reported
  • Duty to defend
  • Any breach of any right to privacy or consumer data breach law
  • Breach of duty to maintain the security of sensitive personal information under any statute, regulation or contract including your privacy policy
  • Acts performed by contractors, vendors and outsourcers
  • Privacy claims by employees
  • Breach of confidentiality including commercial information
  • Civil regulatory action where insurable is available
  • Intellectual property infringement is available (Media Liability - includes web sites)
  • Negligent transmission of computer virus, work, logic bomb or Trojan horse
  • First party coverage to respond to an Insured's requirement to notify and monitor an individual's credit after a data breach
  • Other coverage available: security costs, hacker damage, business interruption and cyber extortion
  • Minimum premium: $1,000: $1,000 (less in some cases)
  • Limits available: we can offer as low as $250,000 or we can quote $1,000,000; limits above $1,000,000 are available in most cases
  • Minimum deductible: usually $1,000
  • All carriers rated A- or higher
In most cases, AJW can offer an admitted insurance company. Available all states. If agents needs to write coverage non-admitted, AJW can file surplus line tax in all states except Alabama and New Mexico. For more information visit the A.J. Wayne & Associates Technology Consultant Professional Liability and Cyber Liability and Security page on Big "I" Markets.  
Insurance in the Headlines

Mark your calendars for the first Big "I" Virtual University webinar of 2016 and join VU expert Bill Wilson as he presents "Insurance in the Headlines." This three-hour program examines over a dozen current issues in the news (both consumer and industry) and their insurance implications with topics ranging from: homeowners insurance loopholes, car 'sharing' economy and resulting coverage gaps, driverless and 'wired' vehicle danger, fracking, landscape of terrorism, parents sued for failure to immunize children, climate change, home and business under- or -over-insured, NARAB, diversity/generation changes and cyber issues.

Insurance in the Headlines
January 27, 2016 - 1:00 to 4:00 p.m. EST
Cost: $79
Click here to register

By the end of the webinar attendees will be better able to counsel customers who question the exposures to loss of these issue and then respond (where possible) by matching them to insurance products and risk management techniques that can also help minimize agency E&O exposure. Webinar questions can be sent to Virtual University staff.

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. EDT we'll show you how to navigate the Big "I" Markets platform, including how to submit a quote! A recording of this webinar can be found under "Publications" after logging into Big "I" Markets.
Student of the Industry Parting Shot
What is "I-S-O" or "ISO"?
By Paul Buse, President of Big I Advantage®

As Students of the Industry, you will want to know that your "Eye-S-Oh" or "ISO" is not everybody's "ISO". Our ISO is the Insurance Services Office. Outside insurance, references to ISO are to the International Organization for Standardization. Both organizations have roles in standardization. Our industry's ISO was formed in 1971 to the property/casualty insurance industry statistical and actuarial services. The other is in Switzerland and is the entity that determines international measures and the like. What you might recall from a pre-licensing class is our ISO's ability to exist is very much related to the anti-trust exemption in the McCarran-Ferguson Act.

So, as Students of Industry, why is ISO an important practical aspect of our industry? Below is a great example. What ISO does, many insurers will follow directly or in principal. Check out the below from a recent ISO form filing on Personal Umbrellas. Many insurers will adopt this approach or the new language automatically. What is it saying to you that ISO is telling us about umbrella insurance and services like Uber?
Click for larger version

Source: Tennessee Filing dated 10/12/2015 and called "Introduction of a Reinforced Public or Livery Conveyance Exclusion"  
Two for Tuesday Trivia
Be one of the first five with the correct answers and win an envy-inspiring TFT Trivia T-shirt. Email your answers to Don't forget to answer the Tie Breaker!
Congratulations to this week's winners - George L. Goodman (NY), Jane Hamada (CA), Laurie Conant (ME), Janet Lackey (OH) & Jeanne Reynolds (NY).

1. On this day (November 3rd) this now-classic horror flick opened around the U.S. It was the first of many box office hits for both the lead and the director. - CARRIE
2. Yasuyoshi Kato embezzled between 62 and 95 million dollars from 1991 to 1997 from Day-Lee Foods. Inc. As a cover for his lavish life-style of what did he claim to be the secret inventor? - NINTENDO
3. Called "The Eldorado of the Arts" this fabled private (not exhibited to the public) art collection is estimated to be worth ten billion dollars. It is owned by what family? - WILDENSTEIN

From January 1 to June 1, 2015 there have been six fatalities, (FL-1, IA-1, NC-2, NM-1, & WV-1) from this type of event, which also resulted in $739 million claim losses to U.S. homeowners in 2014. - LIGHTNING
Here are the top three items that got BIM agents clicking from our last edition... see what you missed!
  1. Top 3 Perpetuation Pathways for Independent Agents
  2. Supreme Court Decision Alters Retirement Landscape
  3. Perpetuation Planning Resources Page
Big "I" Markets Sale of the Week
Congrats to our agent in Washington on a condominium sale of $30,552 in premium!  

Tuesday, November 10, 2015

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