UAIIA Newsletter

Below is an electronic copy of our state association newsletter. It is being sent via blind copy for your privacy.

For a flyer on the benefits of membership, please click on the following link: www.uaiia.org/benefits.pdf

Thanks to our 2008 Associate Members: Acuity, Advanced Restoration, AIG, American Mining, Amtrust North America, Austin Mutual Insurance Co., Auto Owners Insurance Co., Bear River Mutual Insurance, Burns & Wilcox LTD, Cananwill Premium Funding, Capital Premium Finance, Chubb Group of Insurance Companies, CIBA Insurance Services, CSE Insurance Company, Colonial General Insurance, Colorado Casualty Ins. Co., Continental Western Group, Cresta Insurance, LLC, Dairyland Insurance Co., EMC Insurance Companies, Encompass/Allstate/Deerbrook, Germantown Mutual, Great American Insurance Co., Kemper, Legacy Insurance Services, MetLife Auto & Home, Mountain States Insurance Group, Multico Rating Systems Inc., Mutual of Enumclaw Ins. Co., National American Insurance Co., Networked Insurance Agents, PLUS Insurance, Premium Financing Specialists, Progressive Insurance, Republic Indemnity Company, Risk Placement Services – Salt Lake, Risk Placement Services – Scottsdale, Sagamore Insurance Co., Sequoia Ins. Co., Service Master by Restoration Xperts, State Auto Insurance, Statewide Insurance Corp., Surplus Line Assoc. of UT, Swett & Crawford, Inc., Transwestern General Agency, Travelers, UAIC, UCA General Insurance, Unitrin Specialty, Utah Disaster Kleenup, Victoria Insurance, WCF.

1. No Such Thing as a Free Lunch?
2. Who is Worth What?
3. Woman Steps into a $3.8 Million Pothole
4. Insurance Licensing News
5. Utah Receives High Ranking
6. Nevada Countersignature Law
7. Oreo Cookie Speeding Ticket
8. DOI Investigator Murdered
9. A New Company in Town
10. Earthquakes and Utah
11. Flyers with Printed Mailing
12. 100 Captives in Utah

1. No Such Thing as a Free Lunch? Think again. On Free Day Friday, June 6th at the Zermatt Resort in Midway, there will be a free lunch, free continuing education and a free trade fair. What’s the catch? Prying yourself away from the office. That’s all there is to it and it’s a healthy thing to do because there will be free massages, facials and mini-manicures inside the trade fair. In addition to all of the free stuff mentioned, there is more free stuff such as exhibitor prizes and an IPOD give-a-way. People from Midway and other parts of the world call that a “no brainer”. We agree and we hope to see you there. For a complete schedule of our convention, go to: www.uaiia.org/_private/zermattconvention.htm.

2. Who’s Worth What? Have you been wondering who is worth what in an independent insurance agency? The Insurance Journal recently completed their annual online survey on agency compensation trends. This survey provides valuable information on the topic. Nearly 1,750 independent agencies from across the nations responded to the survey.
To purchase the results for $99.00 visit: http://www.insurancejournal.com/salary/pages/order.

3. Woman Steps into a $3.8 Million Pothole An 83-year-old woman who hurt herself stepping into a pothole has won $3.8 million in damages from New York City. A Bronx jury awarded Janie Utsey the money for the injury she suffered five years ago when she stepped off a bus and tripped. She ended up breaking a thighbone, which doctors mended with a rod and screws.
The jury found the city had failed to properly seal the pavement. Utsey says she deserves the money because she’s suffered two hip replacements and walks with a cane because of the pain and weakness in her leg. She can’t travel on her own and needs a home health care aide to help her with chores.

4. Insurance Licensing News Did you know that once an insurance license application has been approved and the insurance department has issued the license, licensees can go to www.sircon.com/utah to print their own license. They can print as many copies of the license as they wish at no cost for the first 30 days. After 30 days Sircon will charge fees totaling $5.50 per print.
The insurance department will now be doing the full national FBI background check on all initial resident individual license applicants rather than the limited seven western state background check as in the past. Fingerprinting must be done at a Prometric testing center and the applicant will be required to pay a $34.25 FBI/BCI fingerprint submission fee.

5. Utah Receives High Ranking Consumers in Utah enjoy more attractive homeowners insurance at better prices than citizens in most other states, according to a new report card jointly released by The Heartland Institute and Competitive Enterprise Institute. “Although insurers operating in the state have seen a degree of uncertainty in the automobile market lately, the Utah insurance environment does a good job serving consumers and insurers alike,” said Eli Lehrer, the report’s author.
Like homeowners in Idaho, Illinois, Vermont, and Wisconsin, those in Utah enjoy lower premiums for broader and more predictable coverage, earning “A” grades on the Heartland/CEI report card. Consumers in California, Florida, Maryland, Massachusetts, and North Carolina—whose states earned “F” grades—pay more for homeowner’s coverage that is inferior to states with positive insurance climates.
“On balance,” writes Eli Lehrer, “states with less regulated insurance markets provide more consumer choice, more predictable rates, and insurance premiums that better reflect actual risk than do states with heavily regulated markets.” The Property & Casualty Insurance Report is available for $10 by calling The Heartland Institute at 312-377-4000.


6. Nevada Countersignature Law You’ve probably heard that the 9th U.S. Circuit Court of Appeals has ruled that Nevada’s countersignature statute violates two clauses of the United States Constitution. The unanimous decision striking down the statute affirms an earlier U.S. District Court ruling in a lawsuit brought against Insurance Commissioner Alice Molasky-Arman.
The Nevada Insurance Department still may seek to appeal the decision to the U.S. Supreme Court.
Nevada is one of just two U.S. jurisdictions where countersignature requirements remain in effect, along with the Virgin Islands, which currently is appealing a U.S. District Court ruling striking down its law. Until the time that the Nevada and Virgin Islands rulings are final, agents and brokers need to abide by the countersignature laws.

7. Oreo Cookie Speeding Ticket Police say a New York man’s excuse for speeding through a small Connecticut town takes the cake – or at least the cookie.
A state trooper who stopped the 1993 BMW last fall says its driver, 28-year-old Justin Vonkummer of Millerton, New York, blamed his driving problems on an errant Oreo. He told the trooper that an Oreo had just slipped from his fingers as he dunked it in a cup of milk, and that he was trying to fish it out when he lost control of the car.
Vonkummer was charged with speeding and driving under a suspended license. From the Insurance Journal.

8. DOI Investigator Murdered On May 19th, North Carolina police arrested Michael Arthur Howell, an insurance agent, charging him with first-degree murder of Sallie Rohrbach, an investigator for North Carolina’s Department of Insurance. Howell owns and operates Dillworth Insurance Agency where Ms. Rohrbach was investigating a complaint. She was assigned to look through files, review Howell’s books and interview him. Police did not say how they linked Howell to Rohrbach or whether a body had been found.

9. A New Company In Town There is a new property and casualty company in town called Acuity. They are headquartered in Sheboygan, Wisconsin and they operate in eighteen states. They recently hired Sonja DeVore as their Territory Director for Utah. Sonja was formerly with Allied, where she had been Sales Manager for Utah. Sonja worked for Nationwide Insurance for 28 years in various capacities.
You’ll be able to meet Sonja at the Acuity booth during UAIIA’s Annual Trade Fair on June 6th. Don’t miss out!

10. Earthquakes and Utah We’ve been told that a big earthquake is due to hit us within the next 50 years. This and the magnitude 6.0 earthquake that struck Wells, NV in February has prompted renewed calls for our state to examine seismic safety in the state’s schools and public buildings.
We’ve also heard that more homeowners are purchasing earthquake coverage on their dwellings since the Wells, Nevada earthquake. Are you taking advantage of our Homeowner Catastrophe Insurance Trust program that will cover earthquake and flood damage? It’s a good way to increase your agency revenue. Please give us a call if you would like further information.
11. Flyers with Printed Mailing Look for the Transwestern General Agency and CIC flyers included with the printed version of this newsletter and thank you for being a member of our association.

12. 100 Captives in Utah Utah Governor Jon M. Huntsman Jr. has welcomed the state’s 100th captive insurance company, AFS Security Insurance Co.
In 2004, Utah had two captive companies, followed by 14 in 2005, 30 in 2006, and 92 in 2007. Commissioner of Insurance, D. Kent Michie, noted that, “Comparing the growth of the five states who rank ahead of Utah in number of captives, Utah’s growth last year was nearly as many as the other five states put together.
Based on year 2007 financial statements, the Captive Insurance Division reports captive assets of $676 million and capital surplus of $86 million, with net written premiums for 92 captives totaling $244 million.