Speaker Summaries from 2001- 2002 Meetings |
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Our guest speaker was Mr. Dan Bernazzani, from Liberty Carpet and Flooring Analysis.
Mr. Bernazzani provided interesting information about the new claim on the block…mold. Dan provided interesting information about the new claim on the block…mold. Included was a brief history of Stachybotrys Chartarum (Atra), the deadly mold. (STACKI BATRA). Mr. Bernazzani went over recent state guideline changes for handling these undetected villains and defined causes and solutions for these matter eating masked fungi. Club members were advised that we live with over 10,000 types of mold and all should be treated with respect…That’s Mr. Mold to you.
Our guest speaker was Ms. Jean Lucey from the Insurance Library of Boston.
She provided us with the following information.
- An Aetna field man, named Henry Hess, founded the Library in 1887.
- In 1980 the location at One Beacon Street was sold and prompted the Library to look for a new location. It bought a building at 156 State Street, just two doors down from the Black Rose.
- When the Library first opened it was devoted to just fire insurance. Throughout the years it expanded to casualty and life insurance.
- The Library is run like a small business and has a budget that affects its activities. It pays $30,000 per year in property taxes.
- The main source of income is from education services, membership fees, and endowment income.
- The Library holds special seminars on Ma auto, Retro Rating, Home Insurance, and licensing.
- The Library is a non-profit organization and has a web site at www.InsuranceLibrary.org.
Our guest speaker for April was Mr. Jack Golembeski, from Mass Property and RI Joint Reinsurance Association. Some highlights of his presentation were:
- Mass Properties provide homeowner, dwelling fire, extended coverage and commercial fire products. All carriers writing in Mass are required to share loss experience.
- Mass Properties provide insurance to any property owner unable to obtain coverage in the voluntary market such as dog bite exposures, ust, and coastal business.
- These programs were started after the 1960’s riots to offer availability of insurance coverage in urban areas
- As a result of new technical support, Mass Properties reduced staffing from 148 to 125.
- As a result of the drop in personnel, tech costs were recovered in 18 months.
- Jack commented that oil remediation is becoming an industry issue with tanks or feeder lines leaking.
- Jack mentioned that our business experiences cycles and he thinks we are in a bad one now. He feels it might take several quarters to see positive improvement.
- Jack sees more of the same in the future for our industry which is continued tight underwriting, continued higher reinsurance, and continued conservative underwriting.
Our guest speaker was Mr. Frank Mancini, Executive Vice President of the Massachusetts Association of Insurance Agents. Some highlights of his presentation were as follows:
- MAIA is expanding awareness for Trusted Choice branding.
- The use of branding goes beyond advertising and creates public awareness as to why consumers choose a business.
- For a period of time both Trusted Choice and the Big I logo will exist together. However, Trusted Choice will phase in more for branding awareness to the public. The Big I logo will remain in use within the industry and by legislatures.
- Currently, 1,400 agents and 14 companies paid a fee to partner with First Choice branding.
- The pilot program generated a slight increase in First Choice awareness.
- Frank reminded us that this is a work in progress program requiring more agents and companies to sign on as partners.
- The association is using radio verses TV time to reach more people and get a bigger bang for the buck.
- Over time Trusted Choice branding will integrate the benefits of doing business with independent agents.