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In This Issue:
Community Banks Are Not a Game
Keeping an Eye on Real Estate E&O
Special Feature: UPS Program $25 Gift Card Offer
Additional Items:
Parting Shot
Last Week's Most Clicked
Sale of the Week

Community Banks Are Not a Game
Often board games use some kind of money which means that someone has to fill the role of the banker and it seems that either several people want to be the banker or no one does. In a board game the banker's responsibility is just to make sure everyone gives and gets the right amount of money as the rules demand.

In real life the demands on a bank and bankers are much more complicated: ever-changing federal and state regulations, handling employees (EPLI, theft, etc), loan servicing, trusts, property liability, electronic theft…the list goes on. Community Banks need coverages that can keep up with these diverse and changing responsibilities and Travelers® has been serving banks since 1890.

Don't let the complicated nature of Community Bank coverage make you nervous. Travelers understands that few agents have extensive knowledge about banks that they have accumulated so they will walk with you through the entire process, explaining the process and details of coverages. They will even go with you to pitch the coverage to the client. You don't have to fear offering Community Bank coverage as you are not alone because Travelers is there every step of the way.

Critical Policy Features
  • Directors and officers liability, with excess directors and officers individual coverage
  • Employment practices liability
  • Bankers professional liability
  • Trust errors and omissions liability
  • Lender liability
  • Fiduciary liability
  • Financial institution bond
  • Kidnap and ransom
  • General liability, auto liability and physical damage as well as workers compensation and property
  • CyberRisk protection
A specimen policy is located in Product Resources on

To find your local community bank, visit ICBA's community bank locator at Simply type in your zip code and the app will show you all the community banks in your area.

Travelers SelectOne®, underwritten by Travelers Casualty and Surety Company of America, is endorsed by the Independent Community Bankers of America.  
Special Feature:
UPS Program $25 Gift Card Offer
By Elif Wisecup Director of Marketing of Big I Advantage®

It pays to be a member of Independent Insurance Agents & Brokers of America, and we're proud to bring you another opportunity to save. Save up to 34%1, plus 50%1 off select services for up to four weeks after you enroll in the UPS® Savings Program. And, if you're a new UPS customer, you can receive a $25 Visa gift card2 just by enrolling and sending three qualifying air shipments or one qualifying international shipment on your account before October 31, 2015.

UPS has the solutions, services and know-how to help you get it done.
  • UPS delivers to more ZIP codes in the U.S. by 8:00am than FedEx
  • More guaranteed packages delivered on time and around the world than any other carrier
  • UPS delivers to more countries from the U.S. by 9:00am and before noon than anyone
To enroll, visit or call 1-800-MEMBERS (1-800-636-2377), M-F, 8 a.m. - 6 p.m. EST.

1Click here for specific services and discounts.
2Click here for terms and conditions of the gift card offer.
Keeping an Eye on Real Estate E&O Coverage
Most real estate agents are willing to go the extra mile for their absent clients, which sometimes means coordinating non-traditional projects which could be as simple as lawn care to more complicated items like replacing the water heater or furnace. Real estate agents that routinely work with bank-owned properties are usually equipped to handle these, but an agent who does so occasionally needs to be careful about what the scope of his or her duties really entail. Simply offering to "check on" the property occasionally leaves a lot of room for an exposure. How often and what will be checked should be worked out ahead of time.

A once-a-week drive by isn't likely to reveal a failed sump pump, faulty furnace, or spot evidence of a break-in all of which could only get worse the longer undiscovered. Water damage only increases the longer it goes on including mold & mildew. A faulty furnace can allow the temperature to drop below freezing increasing the risk of ruptured pipes, or leak natural gas which can cause catastrophic damage if it explodes. Given enough time thieves can strip a house of not only left behind possessions but also plumbing and wiring which may or may not be covered depending on whether it is considered vandalism (which is covered) or theft (which is not). Additionally the thieves may not take the time to shut off the water, flooding the house or care if they steal or just damage gas lines resulting in an explosion.

Travelers® offers an article that you may share with your real estate agent clients to make them aware of the risks and how to avoid unnecessary exposure. To help you persuade prospects, download this flyer with eye-opening claims scenarios. Travelers Real Estate Agents / Property Manager E&O provides professional liability protection for claims or suits resulting from real estate agent or broker professional services.

Policy Features:
  • Bodily Injury and Property Damage resulting from a covered professional service(s).
  • Disciplinary proceeding defense expenses reimbursement up to $25,000.
  • Increased liability limits available for those who qualify.
  • Defense expenses related to covered claims in additional to the limits of coverage.
  • Deductible applies to defense expenses, unless endorsed or not allowed by state.
  • Option to provide prior acts coverage without a retroactive date limitation, for those who qualify.
  • Many extended reporting period options, including an unlimited time period endorsement option.
  • No exclusion for fair-housing discrimination committed in real estate professional services as a real estate agent or broker.
  • No exclusion for losses resulting from a real estate agent or broker failing to advise a buyer or seller that pollution, fungi and bacteria exists on a property.
  • No sub-limits for certain types of claims.
  • Coverage for employees and independent contractors of the insured automatically included as protected persons for claims resulting from professional services they perform for the named insured.
Coverage is available in all states with the exception of CA, HI, and LA and is written on admitted paper. Log in to Big "I" Markets at and click on Real Estate Agents and Property Manager E&O to learn more or to request a quote.  
CGL Contractual Liability Issues in the Construction Industry

October 21, 2015
1:00 to 4:00 p.m. Eastern Time
$79 - Click here to register

Participants will review the basic underpinnings of contractual liability - the difference between breach of contract and liability assumed by contract as well as assuming the liability of others in a contract. Emphasis will be on hold harmless and indemnity agreements often used in the construction industry, including the meaning of hold harmless and indemnity agreements, the parties to the agreement and the notion of performance of an obligation to hold harmless and indemnify another. With illustrations of each type of indemnity clause, the participants will explore the differences among the broad form, intermediate form and limited form indemnity clauses, including how such clauses affect third parties not a party to the indemnity. By way of certain examples, a review of limitations on indemnity agreements, including select state statute and case law, as well as a review of some statutes' "insurance exceptions" and how they may apply.

The course will examine in detail the contractual liability exclusion in the CGL policy, including whether the exclusion applies only to indemnity agreements or to other types of liability assumed by contract. A detailed review of the exceptions to the contractual liability exclusion, with emphasis on "insured contracts" will be undertaken. Also discussed will be the CGL policy's provision for defense of an indemnitee and what types of indemnity agreements are not "insured contracts." The course will conclude with a review of the fundamental differences between indemnification and additional insured, including the rights of each, and the issues created with tying additional insured coverage to an indemnity provision. 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. 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
Crane & Rigging is Scary - Know Your Client Risks
By Paul Buse, President of Big I Advantage®

Click for larger version
True crane and rigging catastrophes are infrequent but the exposure is common. The collapse in Cairo where over 100 were killed is the worst in recent memory. Above are two others from state-side but countless accidents happen daily (see

How can you systematically know that your prospects and customers are considering the appropriate coverages? The Big "I" Professional Liability Program recommends agents use checklists and document your file. Your Big "I" membership provides easy access to such checklists with a cost effective annual subscription to the "The Virtual Risk Consultant." With VRC, you'll never interview a prospect wondering…

Step #1: Understanding the Risk
Step #2: Exposure Identification Survey
Step #3: Proposal Assistant
Step #4: Customer Coverage E&O Checklist/File Documentation  

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. Standing Desk  
  2. CGL Webinar registration
  3. Travelers Workers Compensation Overview
Big "I" Markets Sale of the Week
Congrats to our agent in Florida on a personal valuable articles sale of $2,776 in premium!  

Tuesday, September 22, 2015

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