ALEXANDRIA, Virginia, Oct. 20, 2016 —Markets Big “I” Markets (BIM), a division of the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”), is expanding its small commercial offerings to include additional carriers and coverage areas.
CNA and RLI/CBIC Mainstreet will be joining Travelers Select as available BIM carriers.
“Big ‘I’ Markets is pleased to offer more options to resources to our agents,” says Paul Buse, CPCU, ARM, Big “I” Advantage® president. “We look forward to working with CNA, Gridiron and RLI/CBIC to better serve Big ‘I’ agents and their small business clients.”
Big "I" Markets is an online market access system available exclusively to Big "I" members featuring no fees, no volume commitments and competitive commissions.
A summary of the new product line, effect, Oct. 11, 2016, follows:
Travelers Select Accounts offers a robust variety of coverages for small businesses. A proprietary BOP product, Master Pac®, workers’ compensation, commercial automobile, and commercial umbrella are available, with a broad array of industry-specific coverage options and coverage extensions. Travelers is available in all states except Alaska, Florida, Hawaii, Louisiana, Rhode Island and Texas.
CNA Small Business
CNA Small Business currently offers a market for a broad variety of businesses, representing healthcare, financial institutions, professional services, business services, technology, retail, real estate, wholesalers and manufacturing. BOP, workers compensation, commercial automobile, and umbrella and miscellaneous professional liability products are available. CNA is available in all states except Alaska and Hawaii.
RLI / CBIC offers a wide variety of accounts in the service, retail, light manufacturing, construction and hospitality sectors. Package & BOP products are also available. RLI / CBIC is available in Arizona, California, Idaho, North Dakota, New Mexico, Nevada, Oregon and Washington.
Excess and Surplus Lines
Gridiron offers more than 350 eligible package classifications designed for small business. Package select business for coastal and non-coastal risks. Gridiron is available in Alabama, California, Connecticut, Florida, Georgia, Louisiana, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Texas, Virginia and Washington.
Small Contractors Market
RLI/CBIC designed to meet the needs of small to medium-sized artisan and general contractors specializing in residential and light commercial projects. RLI/CBIC is available in Arizona, California, Idaho, Montana, North Dakota, New Mexico, Nevada, Oregon, Tennessee, Texas, Washington and Wyoming. In the first quarter of 2017, 13 additional states will be added.
Big I Advantage® is a for-profit subsidiary of IIABA and wholly owned holding company that operates a nationally licensed insurance agency administering the Big “I” Professional Liability program, Big “I” Markets and a number of other well-known member benefits including personal umbrella and flood programs, and providing oversight of $125+ million in retirement assets through its IRA and its exclusive member-only 401(k) Plan MEP programs. Big I Advantage seeks to unite the 51 IIABA state associations in pursuing IIABA’s mission of creating a sustainable competitive advantage for members by deploying member agency buying and distribution power to develop innovative, member-exclusive and profitable products while supporting the advocacy efforts of IIABA.
Founded in 1896, the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of approximately a quarter of a million agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life and health—as well as employee benefit plans and retirement products. Web address: www.independentagent.com.