Issue #227 - 10.17.2022

New Agency-Company Appointment Contracts Guide

The Big “I" Office of General Counsel (OGC) has published a general guide to agency-company appointment contracts that is available at no cost to IIABAZ members. The guide covers a wide range of the most important provisions commonly found in appointment contracts and provides key considerations and sample language developed by the OGC over many years. A few of the most notable provisions addressed in the guide include ownership of expirations, data security and post-termination rights.

All Members and carriers are encouraged to use the guide as a resource when reviewing, negotiating and updating these agreements. The OGC will also continue to provide complimentary reviews of specific agency-company agreements based on requests from member agencies and in connection with requests for assistance by carriers. 

Log in with your IIABAZ credentials to access a complimentary copy of the new guide and the company-specific reviews that are currently available on the Big “I" Legal Advocacy webpage.

Recent Legislation Covered in CISR Personal Auto Webinar

The October 20-21 CISR Insuring Personal Automobile Webinar will include a review of three new laws regarding personal autos in Arizona.

SB 1410: AUTO GLASS; REPAIR; PENALTIES Establishes requirements for an automotive glass company or repair facility repairing or replacing glass and performing recalibrations on vehicles with advanced driver assistance systems.

HB 2673: VEHICLE OPERATION; LICENSES; POINTS If a person violates traffic and vehicle regulations or driving under the influence statutes, the Arizona Department of Transportation is authorized to assess points against the person's driving record for only one violation if multiple violations result from the same action or course of conduct. Effective January 1, 2023.

HB 2583: DUI; DATA COLLECTION; STUDY COMMITTEE Establishes a 14-member Driving Under the Influence (DUI) Data Collection Study Committee to gather information to understand current DUI related data collection and recommend data collection processes, systems, and funding to centralize DUI related data reporting and collection.

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Preview of 2022 Midterm Elections

The 2022 midterm elections are less than a month away. In this short video, Charles Symington, Big “I" executive vice president, and Nathan Riedel, Big “I" vice president of political affairs, break down the key factors impacting this year's elections and discuss several important races in both the U.S. Senate and U.S. House of Representatives.

2022 Agency Universe Findings

The number of independent insurance agencies has increased and business conditions for agencies remain favorable, according to the 2022 Agency Universe Study. While the majority of agencies experienced increased revenue, that percentage was lower than in the previous study in 2020. 

Future One, a collaboration of the Big “I” and leading independent agency companies, has released key findings from the recently completed Agency Universe Study, hailed as the most comprehensive look at the independent agency system.  

To order a copy of the 2022 Agency Universe Study Management Summary, which provides an overview of the highlights from the complete study, visit the Big “I” Agency Universe Study webpage.

Independent Agent Performance and Satisfaction Survey

Agent-based carriers remain the preferred choice among a plurality of U.S. personal and commercial auto insurance consumers. However, that dominance faces strong headwinds due to increased competition from direct carriers and accelerated by evolving consumer expectations- highlighted most recently by the COVID crisis. Download here.

Helpful Links

• Insurance License Search
• Continuing Education Transcript Search
• Insurance License Application
• DIFI Enforcement Actions, Hearings and Reports
• NCCI Arizona State Advisory Resources Page