FloodSmart Partners in Resilience: Engaging Insurance Agents. FMA September 4, 2014 Bruce Bender, CFM and Sara Rassi, FloodSmart

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1 FloodSmart Partners in Resilience: Engaging Insurance Agents FMA September 4, 2014 Bruce Bender, CFM and Sara Rassi, FloodSmart

2 2 The Insurance Agent FloodSmart s Key Stakeholder

3 The Insurance Agent A Floodplain Manager s Valuable Resource Learn Your Risk Reduce your risk Insure Mitigate 3

4 Agents Can Answer Tough Insurance-Related Questions Why do I have to buy flood insurance? How much will it cost? How can I lower the cost? How does the new flood insurance law affect me? How does grandfathering work? Should I buy flood insurance??? 4

5 Understand the Insurance Agent

6 Understand the Agent Landscape Writers of Flood Insurance WYO (and vendors) NFIP-Direct Private Insurance Lender-Placed Property & Casualty Agents Independent Agent Captive/Exclusive Agent Direct Agents 6

7 Writing Flood Insurance A Challenge Complicated Ever-Changing Rules Not Like Other P&C Insurance Time Consuming Client and Prospect Misperceptions 7

8 Engage the Insurance Agent

9 Insurance Agents Your Valued Partners When creating a stakeholder group, bring in an agent Keep agents informed and educated on community flood risks and upcoming map changes Integrate agents into a variety of activities, such as CRS Locate an agent through a variety of channels 9

10 Engage Agents When Flooding is Top of Mind Weather Events: - Rainy Season - Winter Thaws - Ice Jams Flood Events: - Past flood events and anniversaries - California and YEAR 2 Nevada Flood YEAR 4 Preparedness Weeks Changing Risks: - Map changes - Levee issues - Flood insurance changes 10

11 11 Identify and Locate Agents

12 Identify and Locate Agents State and Local Insurance Agent Associations and Chapters National Association of Professional Insurance Agents Independent Insurance Agent & Brokers Association International Association of Insurance Professionals 12

13 Identify and Locate Agents Other Possible Sources State Departments of Insurance Write Your Own (WYO) Vendors FEMA NFIP Training Contractor iservice Team Field Representatives FEMA Insurance Specialists Chambers of Commerce 13

14 Educate and Inform Agents Present at chamber of commerce Speak at agent association meeting Include them in local community e-newsletter distribution Create a stakeholder group Provide articles for local chamber or agent association e-newsletter Provide updates of remapping project Invite them to pre-open house stakeholder meeting 14

15 Provide Agents Tools & Resources Start with Agents.FloodSmart.gov 15

16 Community Rating System (CRS) The CRS recognizes community floodplain management efforts Discounts can range from 5% to 45% There are 19 activities in which to participate Visit FloodSmart.gov/CRS 16

17 Community Rating System Outreach Projects Activity 330 Program for Public Information (PPI: 80 pts.) Establish a PPI Committee Including an agent allows credit for Activity 370 Have One or More Insurance Agency Deliver Your Message 17

18 Engage Agents in CRS Flood Insurance Promotion 370 Coverage Improvement Plan (15 pts.) Second of three steps to promote flood insurance Committee to create plan must include an agent Hazard Mitigation Planning 510 Include agent in planning committee 18

19 FloodSmart Tools and Resources for You

20 Community Resources FloodSmart.gov/Partners FloodSmart.gov/CRS 20

21 FloodSmart Tools and Resources Interactive Tools Infographics Toolkits Testimonial Videos 21

22 22 Public Service Announcement

23 Helpful Websites FloodSmart.gov Find a flood insurance agent FloodSmart.gov/Partners Tools and resources for you Agents.FloodSmart.gov Tools and resources for agents CRSResources.org CRS Site (PPI) NFIPiService.com Bulletins, NFIP Manual 23

24 Helpful Websites IndependentAgent.com IIABA PIANet.com PIA InternationalInsuranceProfessionals.org IAIP TorrentCorp.com Torrent Technologies NFS.StoneRiver.com National Flood Services 24

25 Regional Agent Associations Independent Insurance Agents & Brokers of California Western Insurance Agents Association Professional Insurance Agents Western Alliance Professional Insurance Agents of Hawaii Hawaii Independent Insurance Agents Association iiabcal.com wiaagroup.org piahawaii.com iiaba.net Nevada Independent Insurance Agents International Association of Insurance Professionals- CA, NV, HI niia.org regionviii.com *There are 15 local California chapters of IAIP 25

26 Questions? FloodSmart.gov/Partners Mary Jo Vrem FloodSmart Program Manager Bruce Bender FloodSmart Sara Rassi FloodSmart 26

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