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PriSim Agency Management Competition - Official Rules and School Contacts

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OFFICIAL RULES

Here are the Official Rules and Regulations (Official Rules") of the PriSim College Agency Management Challenge (the Contest"). 

CONTEST DESCRIPTION: Throughout the month of February 2019, eight college teams from select schools across the country will compete in a virtual competition hosted by InVEST corporate partner, PriSim Business War Games, Inc. (PriSim"). Throughout the duration of the four-week competition each team will run their own simulated insurance agency. PriSim will provide a competition web portal for the competition and a timeline with deadlines for the teams and supporting organizations. The web portal also contains lecture materials and links on insurance-related topics.

For several hours each week at a designated time, each team will go onto the PriSim agency management platform and input decisions into the program. At the end of each week or round," each team should receive feedback on their agency's performance to be discussed with their assigned agency mentor in a weekly meeting. Student teams control strategy, carrier and customer management, source management, staffing and sales and financial management. Each week" of decision making represents one simulated agency year" with 4-weeks representing four years in the operation of an agency. 

The Contest is designed to teach college students the basics of entrepreneurship, insurance agency management and business operations through participating in PriSim's online simulated program. Online business simulation learning is supplemented by lectures and class discussions on various aspects of business including strategy, finance, loss ratios, customer satisfaction metrics, staffing, segmenting markets, business growth, management and leadership. The competition will also help students learn more about the importance of teamwork and the impact decision making has on all aspects of business operations.

CONTEST DATES: The Contest begins at 12:00 p.m. EDT on February 4, 2019 and ends at 11:59 p.m. EDT on February 28, 2019. 

SPONSOR: InVEST and Independent Insurance Agents & Brokers of America, Inc. (IIABA") Diversity Council, 127 S. Peyton Street, Alexandria, VA 22314

ADMINISTRATOR: InVEST, IIABA Diversity Council and PriSim

ELIGIBILITY: The Contest is open only to U.S. citizens and lawful permanent residents who are at least 21 years old as of May 7, 2019 and are selected  to serve on an eligible team by a designee at a qualifying college or university. Sponsor, in its sole discretion, shall select eight (8) different colleges or universities with insurance and/or risk management majors or concentrations to field teams as well as a designee at each college or university who will mentor the team.  Only one team may representative a qualifying college or university.  A team shall consist of no fewer than four (4) and no more than six (6) members.  There may be no alternates.  

Each team shall be comprised of at least the following: (a) all students shall be in at least their third year of higher educational studies with a Grade Point Average of 3.0 or higher; (b) at least one or more students in a previously-established insurance and/or risk management program (students with concentrations/majors in business and/or finance are also strongly encouraged).  Teams are also strongly encouraged to include at least one or more diverse student(s) from an underrepresented race and/or ethnicity.  Employees, and their immediate families, of InVEST, Independent Insurance Agents & Brokers of America, Inc. (IIABA"), as well as their affiliates and subsidiaries, are prohibited from participating in or winning the Contest.  The Contest is void where prohibited.

As used herein, Entrant" refers to any individual who applies for the Contest. As used herein, Participant" refers to any individual who enters and participates in the Contest.

AGREEMENT TO THE OFFICIAL RULES: Each Entrant and Participant unconditionally agrees to and accepts these Official Rules and the decisions of the Sponsor and Administrator on his/her behalf and on behalf of his/her successors, assigns, transferees, heirs, heirs apparent, executors, agents, representatives, or anyone else claiming under him/her.  These Official Rules and the decisions of the Sponsor and Administrator are final and binding in all matters related to the Contest.  Winning any prize is contingent upon fulfilling all requirements set forth herein, including, but not limited to, signing an Affidavit of Eligibility and a Liability Release (Affidavit and Release") with the Entrant's application.

HOW TO ENTER: Each Entrant must submit an application no later than Friday, October 26, 2018 to designated college/university.  Each Entrant is responsible for ensuring that his or her application is complete and accurate, including a signed Affidavit and Release.  THERE IS NO PURCHASE NECESSARY TO ENTER THE CONTEST.

PARTICIPATION RESTRICTIONS: Entrants whose applications are received after the specified deadline will be excluded from the Contest.  Each Entrant is limited to one Submission. 

Sponsor is not responsible or liable for late, misdirected, corrupted, void, excluded, ineligible, or otherwise deficient applications. 

Sponsor reserves the right to exclude or eject from the Contest any Entrant or Participant who, in Sponsor's sole discretion, submit any content or conduct themselves in a manner that is defamatory, harassing, threatening, indecent, obscene, or vulgar; that may infringe on any party's intellectual property rights; or that is illegal or unlawful.

WINNER SELECTION: PriSim will review and evaluate the contributions of all eligible Participant teams and will select the three (3) Participant teams whocompleted the competition with the best performances based on the requirements and metrics of the PriSim simulated agency competition.  The Sponsor and Administrator reserves the right, in its sole discretion, to amend the Winner Selection criteria or method at any time as well as disqualify and/or select different winners if any Participants fail to comply with these Official Rules or fail to conduct themselves in an appropriate and professional manner. 

PRIZE AND GENERAL PRIZE RESTRICTIONS: Participants on the (3) winning teams, including the designated mentor, will win a trip to the 2019 Big I" Legislative Conference, which is scheduled to take place May 8-10, 2019 in Washington, D.C. (the Prize"), which consists of: 

(1)   Round-trip, economy class airfare to Washington, D.C. for each team member, which must be booked through Sponsor's designated travel agent.
(2)   Up to three nights lodging in Washington, D.C. at a location to be determined and booked by Sponsor, in its sole discretion.  Sponsor will not cover any incidentals or additional charges incurred and team members may be required to share rooms with another team member of the same gender.;
(3)   One registration for each team member to the 2019 Big I" Legislative Conference.;

All specifics of the aforementioned elements of the Prize shall be solely determined by the Sponsor and Sponsor or Administrator may determine the airline, flight itinerary and hotel and accommodations in its sole discretion.  If in the judgment of Sponsor air travel is not required due to a winning team member's proximity to the location of the conference, ground transportation will be substituted for roundtrip air travel at Sponsor's sole discretion.  No refund or compensation will be made for any delays, cancellations or differences in estimated and actual values of any portion of the Prize.  All costs, taxes, fees and expenses associated with any element of the Prize not specifically addressed above are the sole responsibility of the winning team members.  Sponsor assumes no responsibility for cancelled, delayed, suspended or rescheduled events.  Sponsor will not provide any money for expenses incurred as a result of Participants' participation in the Contest or the claiming or use of the Prize. 

Prizes may not be transferred or assigned.  No substitution may be made, except by Sponsor, which reserves the right to substitute a prize in whole or in part with another prize for any reason as determined by Sponsor in its sole discretion.  The winning Participants will be responsible for all taxes (including but not limited to federal, state, local, and/or income) on their prizes.  Each Participant is required to execute an Affidavit of Eligibility and Liability Release (Affidavit and Release") prior to the prize being released and may be required to provide his/her Social Security number or tax ID for tax reporting purposes.  The execution of the Affidavit and Release by each Participant of the winning Participant is an explicit condition to releasing said prize; refusal by any Participant to execute the Affidavit and Release will result in disqualification, and a new winner will be selected by Sponsor in accordance with these Official Rules. 

GENERAL CONDITIONS / RELEASE: Each Entrant and Participant agrees to: (a) release Sponsor, its affiliates and each of their respective directors, officers, agents, employees, members, and state associations (the Indemnified Parties") from any and all liability for any claims, costs, injuries, losses, or damages of any kind caused by, resulting from, or in any way related to (i) Entrant/Participant's participation in the Contest; (ii) the sponsorship or administration of the Contest; and (iii) Entrant's, Participant's, and/or any third party's acceptance, possession, use, misuse, sale, or disposal of the prize; and (b) acknowledge that the Indemnified Parties have neither made nor are in any manner responsible or liable for any warranty, representation, or guarantee, express or implied, in fact or in law, relative to the prize.  The Indemnified Parties are not responsible for, and each Entrant and Participant releases the Indemnified Parties from any and all liability for any claims, costs, injuries, losses, or damages of any kind caused by, resulting from, or in any way related to, the Contest; any bugs, viruses, or the like; any content prepared for the Contest; incorrect or inaccurate transcription of entry information, or for any other human or other error, mistake, or inaccuracy; technical malfunctions; lost/delayed data or voice transmission; omission, interruption, deletion, defect, or other failures of, or unauthorized access to, any network, computer equipment, video equipment, or software; inability to access any online service or Website or to complete a telephone call or facsimile transaction; late, lost, or misdirected mail (including electronic mail); or any personal injury or property damage affecting any Entrant or Participant.  CAUTION: ANY ATTEMPT BY AN ENTRANT, PARTICIPANT, OR ANY OTHER INDIVIDUAL TO DELIBERATELY DAMAGE ANY WEBSITE, TAMPER WITH THE ENTRY PROCESS, OR OTHERWISE UNDERMINE THE LEGITIMATE OPERATION OF THE CONTEST MAY BE A VIOLATION OF CRIMINAL AND CIVIL LAWS AND SHOULD SUCH AN ATTEMPT BE MADE, SUCH ENTRANT OR PARTICIPANT SHALL BE DISQUALIFIED FROM THE CONTEST, AND SPONSOR RESERVES THE RIGHT TO COOPERATE IN THE PROSECUTION OF ANY SUCH INDIVIDUAL(S) AND TO PURSUE ALL REMEDIES TO THE FULLEST EXTENT PERMITTED BY LAW.  Failure to enforce any term of these Official Rules shall not constitute a waiver of that provision or any other provision.  If for any reason the Contest is not capable of being executed as planned, or infection by computer virus, bugs, tampering, unauthorized intervention, fraud, actions of Entrants or Participants, technical failures, or any other causes that in the opinion of Sponsor, corrupt or affect the administration, security, fairness, integrity, or proper conduct of this Contest, Sponsor reserves the right at its sole discretion to disqualify any suspect entry or Entrant and/or to cancel, terminate, modify, or suspend the Contest.  In the event of any cancellation, termination, modification, or suspension, notice thereof will be posted at www.independentagent.com.  If Sponsor decides to reconvene the Contest after a suspension, the determination of the prize winner will be made from among all eligible, non-suspect Entries as of the date of the suspension, as Sponsor determines in its sole discretion. 

INTELLECTUAL PROPERTY STATEMENT: Each Entrant and Participant agrees that, upon sending to Sponsor, any application, submission or content (Content"), along with any intellectual property rights associated therewith, are the sole property of Sponsor.  Content submitted to Sponsor may be not used, copied, reproduced, distributed, transmitted, broadcast, displayed, sold, licensed, or otherwise exploited for any purpose by any Entrant, Participant, or third party without the prior written consent of Sponsor.  Content submitted to Sponsor may not be registered for copyright, trademark, or any other intellectual property protection, except by Sponsor.  Entrants and Participants are not entitled to, shall not receive, and hereby waive any and all rights to any compensation or anything of value in connection with Sponsor's use, copying, reproduction, distribution, transmission, broadcast, display, sale, license, or other exploitation of any Content submitted to Sponsor.

RESERVATION OF PUBLICITY RIGHTS: Each Entrant and Participant grants, on behalf of himself/herself and his/her heirs apparent, to Sponsor, and each of its licensees, successors, designees, assigns, and affiliates (the Sponsor-Related Parties"), the right to use, display, transmit, publish, and reproduce, for all purposes: (1) any content submitted in connection with the Contest; (2) his/her/its name; (3) his/her physical likeness, whether in photograph, video, motion picture, electronic video image, or otherwise; and (4) recordings of his/her voice and all sounds he/she produces, in any and all media including, but not limited to, cable and broadcast television and the internet.  Each Entrant and Participant further expressly grants the right to give, sell, transfer, exhibit, customize, edit, and add content to all of the foregoing.  Each Entrant and Participant acknowledges that the permissions granted herein extend to all languages, media, formats, and markets now known or hereafter devised, and shall continue without expiration.  Each Entrant and Participant agrees that at all times the materials described above are the property of Sponsor, free from any claim, lien or encumbrance by or through him/her/it or any other person or entity.  Each Entrant and Participant hereby waives any right to receive payment for agreeing to these Official Rules or for the use by the Sponsor-Related Parties of any of the materials described above.  Each Entrant and Participant also waives any right to inspect or approve finished products used from the materials described above, or to revoke the rights granted herein. 

DISPUTES: Each Entrant and Participant agrees that: (a) any and all disputes, claims, causes of action, issues, or questions arising out of, connected with, or related to the Contest; any prize; the construction, validity, interpretation, or enforceability of these Official Rules; Entrant's/Participant's rights and obligations; or the rights and obligations of Sponsor in connection with the Contest shall be resolved individually, without resort to any form of class or collective action, and exclusively by the state and federal courts located in the City of Alexandria, Virginia; (b) any and all claims, judgments, or awards shall be limited to actual out-of-pocket losses, but in no event attorneys' fees; and (c) under no circumstances will Entrant or Participant be permitted to obtain awards for, and each Entrant and Participant hereby waives all rights to, claim or receive direct, indirect, special, punitive, incidental, or consequential damages and any other damages, other than out-of-pocket losses, and any and all rights to have damages multiplied or otherwise increased.  SOME JURISDICTIONS DO NOT ALLOW THE LIMITATIONS OR EXCLUSIONS OF LIABILITY FOR INCIDENTIAL OR CONSEQUENTIAL DAMAGES.  THEREFORE, THE ABOVE MAY NOT APPLY TO YOU.  Any and all disputes, claims, causes of action, issues, or questions arising out of, connected with, or related to the Contest; any prize; the construction, validity, interpretation, or enforceability of these Official Rules; Entrant's/Participant's rights and obligations; or the rights and obligations of Sponsor in connection with the Contest shall be governed by, and construed in accordance with, the laws of the Commonwealth of Virginia without giving effect to any choice of law or conflict of law rules (whether of Virginia or any other jurisdiction).

ENTRANTS' / PARTICIPANTS' PERSONAL INFORMATION: Information collected from Entrants and Participants is subject to the Privacy Policy that can be found at www.independentagent.com.

SOCIAL MEDIA AND MARKETING: Each Entrant and Participant permits Sponsor to post any content submitted in connection with the Contest to Sponsor and its affiliates' websites and social media channels.

Each Entrant and Participant agrees to comply with the rules of any relevant social media channel, including YouTube's Terms of Service and Facebook's Statement of Rights and Responsibilities, along with any other regulations from YouTube and Facebook, in connection with the Contest. 

In accordance with Facebook's Page Terms, by participating in this Contest, each Entrant and Participant agrees to a complete release of Facebook and acknowledges that the Contest is in no way sponsored, endorsed or administered by, or associated with, Facebook. 

WINNERS / RULES: A copy of these Official Rules and a list of the semi-finalists, finalists, and winner may be viewed on IIABA's website at www.independentagent.com.   

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​127 South Peyton Street
Alexandria VA 22314
​phone: 800.221.7917
fax: 703.683.7556
email: info@iiaba.net

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