SouthPoint Risk proudly received the “Insurance Provider of the Year” award, and John Tatum was awarded with the “Recruiter of the Year” award for his exceptional efforts in promoting AGC.

AGC of TN - Middle TN Branch, recognize General Contractor, Subcontractor, Supplier, Architect, Engineer, and Service Provider members for their outstanding performance on some of their members' most noteworthy construction projects and community involvement efforts through a nomination process. Award winners are announced at their annual Middle TN Build TN Awards.

John Tatum is a Producer in our Nashville, TN office. He has earned this recognition through his dedication to outstanding service and efforts in promoting AGC.

Please join us in congratulating John on this well-deserved honor as well as Jonathan Peters and the entire Middle TN SouthPoint team!

The Associated General Contractors of Tennessee has brought together qualified construction contractors and industry-related companies dedicated to skill, integrity, and responsibility.  The Association provides broad influence and a full range of services satisfying the needs and concerns of its members, partners, and the industry, thereby improving the quality of construction and protecting the public interest. 

Competency & Professionalism are core values for our organization, and one of the ways our team members demonstrate these values are by learning and growing with the industry partners that we serve.

The Community’s Choice Awards recognize the top businesses, organizations, and individuals in the Music City area, with nominations and voting driven by local residents. This year, over 190 categories showcased the best of the best in the Nashville community. 

Jennifer is a Senior Commercial Lines Account Manager in our Nashville, TN office, WC Dillon Co. She has earned this recognition through her dedication to outstanding service and client care. Please join us in congratulating her on this well-deserved honor! 

A big thank you to everyone who participated in this year’s voting. We appreciate your support! 

For the complete program and a full list of winners, view the Best of Music City Community's Choice Award website. 

Photo credit: Best of Music City Community’s Choice Awards - 2024 Awards Gala 

During the 2023 Big “I" Legislative Conference Breakfast, John Costello, Big “I" chairman and vice president and construction practice member at USI Insurance Services in Rochester, New York, presented former Big “I" chairman Jon Jensen, President & CEO of Correll Insurance Group, with the 2023 Woodworth Memorial Award—the highest honor the Big “I" bestows on an individual member. 

The prestigious award, established in 1925 in memory of the second Big “I" president C.H. Woodworth, recognizes the outstanding contributions of an independent agent or broker to the national association, to their Big “I" colleagues, and to the insurance industry. 

Congratulations Jon, on this great recognition for your leadership and commitment to the IA system, the Big I, and our industry! 

View the full article on IAMagazine.com

The inductees are called “Captains of Industry” and the judges said “the bar is high for induction into the 2022 Insurance Business America Hall of Fame.  You need at least 35 years in the industry, examples of leadership and inspiration, and an impressive track record.”  Of course, Jon meets and exceeds all of those requirements! 

Congratulations Jon, on this great recognition for your leadership and commitment to the IA system, the Big I, and our industry! 

View Article 

Congratulations to all of the 2022 award winners, especially Bobby!

What does umbrella insurance cover?
Umbrella insurance will cover you if you face liability for property damage or injury to yourself or others and associated legal defense costs. The umbrella policy covers liability that exceeds the amount of your primary policies.

For example, if you have a homeowners policy that includes up to $500,000 in liability, an umbrella policy would kick in if you were at fault in an accident in which the victim was awarded more than $500,000 in damages. This is why umbrella insurance is also called excess liability insurance.

How much does umbrella insurance cost?
Besides the protection and peace of mind umbrella insurance provides, perhaps its best feature is how affordable it is. While rates vary depending on your claims history, where you live and other factors, $1 million of umbrella coverage can cost less than $200 a year (less than $17 a month).

How much umbrella coverage should you have?
This depends largely on the value of your assets, any investments, your income, and future earning potential. Your assets and income are at risk in a lawsuit. It is important to consider what kinds of risks you face as well as the value of your assets and the potential loss of income you might face in the event of an accident in which you are found liable.

If you would like to discuss whether you need an umbrella policy, call us today. We will review your current coverages and deliver several options for you to consider.

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Compounding the issue is the cost. The thousands of dollars often required to complete a search and finalize a hire is an essential cost of doing business — but it is one that many agencies, especially smaller ones, struggle with. Indeed, agencies can ill afford to make a mistake in the hiring process.

At Correll, we have utilized different approaches to workforce development over the years, including the use of expensive search firms. All too often, the results were disappointing, especially considering the cost.

Fortunately, agencies that are members of Correll Insurance Group have access to a new tool that is yielding more qualified candidates and ultimately better long-term fits and employees. Big “I” Hires was launched last year and the early results have been encouraging.

The new hiring and talent development platform was championed by Correll CEO Jon Jensen through his work on the board of directors for the Big “I.” The organization partnered with Michigan-based recruiting firm IdealTraits to develop the tool and it was made available to members in 2018. Correll Insurance Group was one of the first adopters.

The platform works by providing agencies the opportunity to create as many job ads as they want, which can then be placed on various job sites (Glassdoor, Indeed, LinkedIn, etc.) selected by the agency. As people apply, the platform qualifies the applicants with a 40-question assessment designed to identify whether they have the soft skills and other traits that make them a good fit for the position.

“The development of Big ‘I’ Hires is a great example of how the organization supports our industry,” Jensen said. “The executive committee made recruitment and workforce development a core part of our strategic plan. At Correll, we have used this new tool to help us make some great hires over the past year. I believe it will make a big difference in helping independent agencies grow and prosper over the coming years.”

Visit their website bigihires.com to learn more about how Big “I” Hires can help your agency.

Like for-profit businesses, non-profit organizations face risks and potential liabilities, and insurance is an essential part of risk mitigation for all incorporated non-profits. (If the non-profit is not incorporated, any potential liability falls on the individual(s) who formed and/or run the enterprise.)

There are some risks — and, therefore, insurance coverages and programs — unique to non-profits. No single policy will cover every risk a non-profit could face. It’s important to work with an agent or agency with non-profit insurance experience so that a complete risk assessment can be completed. Then, an independent agent will be able to consider a variety of carriers and options and recommend a package of appropriate policies (at the best possible price) to best safeguard the organization, its employees and directors.

Most non-profits should consider a Non-Profit Directors & Officers Liability Insurance. D&O coverage goes beyond a general liability policy to specifically protect the personal assets of a non-profit’s board members in the event of a lawsuit. Many non-profits and their board members do not realize that they can be held personally liable for the acts of the organization. Non-Profit D&O Liability Insurance covers the cost of defense and settlements of judgements if wrongful act suits are filed against the organization.

There are many coverages geared to insure specific types of non-profit organizations, from supplemental policies that cover abuse to camps and fundraising events. There is no one-size-fits-all policy or coverage program. The first step is to understand the organization’s risks and then develop a package.

If you have concerns about a non-profit you direct, work for, or serve as a board member, contact your local agent today.

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Because insurance agencies obtain and handle their customers’ important financial and private data, they are prime targets for hackers who want to access this information. Preventing a data breach and safeguarding private data has become an essential part of the insurance industry.

Independent agents and brokers are impacted in several ways. To effectively compete with national carriers, independent agencies have pressure to invest in technology and new user-friendly digital platforms that customers have come to expect. They must ensure they are complying with all federal and state regulations regarding securing the private data that is obtained through these platforms, from credit card payment information to social security numbers and driver’s license numbers.

But protecting the data an independent agent obtains and stores is not the only concern. Because independent agents and brokers work with numerous carriers, the risk of any of the carriers for whom they sell policies being breached also poses a risk to the reputation of the independent agent who sold the policy. Independent agents should be aware of the history of the carriers they represent. If they have experienced a data security breach, find out how they responded to the incident and what they have done to ensure it does not happen again.

Regulations independent insurance agents should comply with may include:

• Payment Card Industry Data Security Standard (PCI DSS)
• HIPAA/HITECH
• Sarbanes-Oxley
• Gramm-Leach-Bliley Act

Many states have additional regulations, as well. For example, in South Carolina, the S.C. Insurance Data Security Act also applies to independent agents and agencies. This is an important state law that requires all data breaches to be reported to the state Department of Insurance and requires most agencies to conduct a risk assessment.

If you have questions about data security, regulations and/or threats, you should seek professional guidance. There are many data security firms that specialize in working with insurance businesses. The Big “I” or your state trade association are also great resources.

What to do before Evacuating

• Prepare a survival kit that includes items such as water (one gallon per person, per day) and non-perishable food for everyone, including your pets; medications; a portable radio; flashlights; batteries; and battery chargers for your cell phones and other portable electronic devices, which can be powered by your car. Plan for an extended period without power. This site has a useful checklist of supplies and other items you’ll want to pack: hurricanesafety.org.
• Plan your evacuation route and leave as soon as possible. You don’t have to wait for the official evacuation order to be issued. Fuel up your car before you leave.
• Communicate about your evacuation plan to others so that family or friends know where you are heading and how to reach you.
• Secure all outdoor objects or move them inside. Take down glass picture frames and anything that may fall. Wrap them and place them in a washer or dryer for safety. Secure all valuables and consider taking them with you. Make sure to take medications, copies of your insurance policies and other important legal documents with you. Secure other important documents in a safe deposit box.
• Close your home’s storm shutters and board up windows and glass doors as appropriate.
• If possible, bring in gas or charcoal grills, but do not use them indoors. Also, do not store propane tanks inside the house or garage. Chain propane tanks in an upright position to a secure object away from your home.
• Secure your boat or move it to a safer place.
• Fill your emergency generator fuel tank, if you have one, and have spare fuel on hand. Store generator fuel in an approved container in a garage or shed, away from open flames, heat sources and appliances such as natural gas appliances.

Do not return to your home until authorities have explicitly said it is safe to do so. Once you are able to return safely, follow our tips for what to do after the storm.

The result could mean significantly higher rates for properties in areas with the highest risk of floods, as well as a much larger number of properties covered by flood insurance overall. Those outcomes should present a significant opportunity for private insurers to penetrate the flood insurance market.

The changes are the most consequential since the NFIP was created, even though the case for reform has long been clear. Premiums collected by the NFIP have been woefully insufficient to cover flood losses for years, creating a gusher of debt that topped $30 billion in 2017.

Much of that can be traced to the structure of the program. Without accurate flood risk models, the NFIP has used a simple approach: only properties located within a 100-year flood zone could purchase coverage, and the rates within a flood zone were uniform. So, for example, a property on stilts half a mile from the ocean is charged the same premium as an oceanfront property.

Building a book of flood insurance business has been incredibly difficult for the private market. The inability to accurately analyze risk and the federal program’s artificially low, taxpayer-supported premiums have been the primary obstacles.

The new risk maps move away from that one-price-for-all approach and designate several levels of risk, which will enable both the NFIP and private insurers to much more accurately calculate appropriate premiums. The expected increase in the national program’s rates will, for the first time, make private carriers competitive.

The new maps also, for the first time, make clear the flood risk for properties that sit outside a 100-year flood zone. Despite the fact the national program only covers those properties, only about 50 percent of all flood-related losses occur in 100-year zones. That represents a lot of opportunity for insurers nationwide, not just those in coastal regions.

At the same time, the changes also provide an opportunity for the private insurance market to finally bundle coverages to create a more comprehensive program for coastal property owners who face the highest risk of hurricanes. (Most hurricane policies today cover wind damage but not flood damage.)

Finally, there is concern that more accurate risk-based pricing could disincentivize new development and/or hurt property values in the highest risk areas. Correll Insurance Group will certainly pay close attention to this issue over the next year before the new rates take effect, but on the whole we are supportive of the changes. Reforming the NFIP with a goal of stopping the massive annual losses it has incurred while simultaneously providing the private market a legitimate opportunity to compete for this line of business is a win.

A longtime member of the Big “I” and proponent of the independent agency system, Jensen is a former recipient of the Independent Insurance Agents of South Carolina Young Agent and Agent of the Year awards. Jensen previously chaired the national association’s Government Affairs Committee and InsurPac Committee.  And earlier this year, Jensen was sworn in as chairman of the World Federation of Insurance Intermediaries in Rome, the first time a Big “I” representative has been selected for that role.

In an interview with Independent Agent magazine, Jensen said "continuing (the organization's) work in areas like membership, diversity and market share is the biggest goal I could try to accomplish, because those are not initiatives you can ever forget about or claim to be done.

Driving workforce and development is another priority. If we lose focus there, we’ll have greater problems than we thought."

[Photo Credit: Bryan Stovall Photography]

Once you know you are safe, you can begin to assess any potential damage to your home and property. Follow these tips after the storm is over:

• Avoid downed power lines. Never touch anything in contact with power lines, including vehicles, as well as water or water puddles that may be near the downed power lines.
• Be wary of any gas lines that may have been damaged or broken during the storm. If a gas leak is suspected, stay out of the property until the utility company deems it safe.
• Be cautious of hazards that are a product of the storm, such as water due to flooding, sharp or broken objects, insects, snakes, damaged tree limbs, or other structures that may have been damaged by high winds or water.
• Separate and inventory any damaged personal property. Create a list of any damaged contents, including a description of the item, name of the manufacturer, brand name, age, as well as the place and date of purchase, if known. Include photographs, videotapes or personal property inventories you may already have available.
• If you find broken windows or doors, protect your property from further damage by boarding them up. This should deter vandalism and prevent additional weather damage. Arrange for reasonable temporary repairs if possible.
• Keep accurate records of your expenses and save bills and receipts from your temporary repairs. (Avoid making permanent repairs until your Claim Professional has reviewed the damage.) Keep accurate records of any other expenses incurred.
• If you think your home might be unsafe due to storm damage, contact your insurance company to discuss finding temporary accommodations.

Call your Correll Agent

Correll Insurance is here to support you after a hurricane or severe weather event. Contact your local agency as soon as the storm has passed. We will walk you through the process of filing claims, inspecting damage, and beginning repairs. Do not start making major decisions about your property without first speaking to your Correll agent.

If you’re not sure how to reach your local agent, or your agency is part of the damage, check their website or Facebook page for updates. An agent should be available to you to offer advice on the next steps.

Jensen, who is also Chairman-elect of the Independent Insurance Agents & Brokers of America (IIABA), is the first officer of the Big “I” to chair WFII. His term as chair is for one year.

"I'm honored to be chosen to chair the World Federation of Insurance Intermediaries, which does incredibly critical work globally," Jensen said. "I look forward to working with our World Council and Executive CSE Committee to continue to facilitate great relationships across our various national entities, as well as work together to continue to promote all of the noble and invaluable efforts from our agents to support their local customers and economies."

Jensen has been involved with WFII for several years, and in 2018 he was selected to represent the Big “I” on the federation’s Executive Committee. His involvement as Chairman will continue through the March 2020 conference in Singapore.

Indeed, Correll Insurance Group President & CEO Jon Jensen’s experience and optimism make him the perfect person to be in the industry’s most visible leadership role. He will be installed as chairman of Independent Insurance Agents and Brokers of America (Big “I”) later this year. The Big “I” is a national alliance of more than a quarter million business owners and their employees who offer all types of insurance and financial services products.

Being selected by his peers to chair the Big “I” is also a statement about how respected Jensen — and Correll — is in the industry. A longtime member of the Big “I” and proponent of the independent agency system, Jensen is a former recipient of the Independent Insurance Agents of South Carolina Young Agent and Agent of the Year awards. Jensen previously chaired the national association’s Government Affairs Committee and InsurPac Committee. And earlier this year, Jensen was sworn in as chairman of the World Federation of Insurance Intermediaries in Rome, the first time a Big “I” representative who has been selected for that role.

Since getting his start as a 16-year-old producer in his mother’s agency in Florida, Jensen has seen a lot of changes in the industry. In some ways, the environment for an independent agent has never been more challenging. Hiring and retention pressures, increasing demands from carriers and an uncertain political environment are impacting how independent agencies operate and plan for the future.

At the same time, Jensen is as bullish as ever on the future of independent insurance industry. And he believes the Big “I” is an essential part of helping its members navigate the landscape.

“We represent an industry that quite frankly is unparalleled,” Jensen said. We give individuals piece of mind so they can sleep at night (and I don’t mean by reading their policies), the security to build or buy a home, the ability to start and run a business. Our industry in many ways is a driving force of the world’s economy. Our industry is truly a noble career and we have to start talking more and more about that.”

Watch Jensen's testimony, which starts at 8:15, and that of three other experts before the Senate Banking, Housing and Urban Affairs Subcommittee on Economic Policy: