TRUITT
NEWS
BLAST
April 2021
The Official Skinny From Truitt World HQ
It has been a bit since we last published a Truitt News Blast so we are happy to be back at it. Looks like things are getting closer to normal by the day. We are excited. Football stadiums are expected to be filled this fall, concerts will be going on this summer and traffic is getting worse. 2 out of 3 ain't bad. We absolutely wish everyone great times this summer. We hope you have a lot of fun with your friends and families. I always believe sunny days are ahead. That appears to really be coming true. Stay safe and let's move forward.
Tony Truitt, President
Congrats To:
Elam & Sandra Holley on celebrating their 50th wedding anniversary and on the arrival of their first grandbaby, PJ.
Frankie Wade Jr. on being named an Academic All-American at the University of North Alabama. Truitt's Frankie Wade Sr. is super-proud.
Emily Rogers of the Birmingham Business Alliance on being named one of Consultant Connect's Top 50 Economic Developers in North America.
Jabo Waggoner, Truitt neighbor and long-time Alabama State Senator, on being presented the President's Medal from UAB for all of his work with them over the years.
Our friend Paul Rogers of Noble Bank & Trust on being named one of Shelby County's "Movers & Shapers" in the February issue of Business Alabama Magazine.
Allen "AJ" Johnson of Birmingham's 99.5 FM, one of the hardest-working people in town, and his wife on the arrival of their first child, Marshall. AJ is going to be a great dad.
My buddy Dean Sunas on his recent promotion to President - Southeast Division at Vulcan Materials Company.
Kelly Morgan of Grandview Financial Group on recently passing her Certified Financial Planner Exam. Way to go, Kelly!
Ann Hamiter (Progress Bank) and her husband, Wes, on the arrival of their first child, Mr. Bennett Hamiter, who joined the fun last month.
Noah Griggs of Tallassee on announcing plans to open his next Wharf Casual Seafood (8th overall) in Wetumpka later this year.
Ryan Ferris, on being named Vice President of Jim Cooper Construction Company in Birmingham. Great going, Ryan.
Reverend Kevin J. Long on becoming the new Pastor - Head of Staff at Birmingham's Independent Presbyterian Church.
Big News!
Truitt Celebrating 30 Years In Business!
So hard to believe we have been doing this for the past 3 decades but it is true. Thank you to all of our clients, staff members, insurance carriers, and other partners who have believed in us over the years. We are truly grateful.
Folks Celebrated 60th Wedding Anniversary!
Our founders, John & Gail Truitt, celebrated their 60th wedding anniversary this past February. That is quite a feat and we are proud of them for it.
Tabitha Joins Team Truitt!
We are happy to welcome our new Director of Personal Lines Sales, Tabitha Burrow, to Truitt. She has a wealth of experience working on the home & auto side and is a great addition to our team.
We were thrilled to recently have received a 2021 Top Tigers Award from Auburn University's Harbert College of Business. The Top Tigers Award recognizes fast-growing companies led by Auburn alumni. We are especially excited as this marks 3 years in a row that Truitt Insurance & Bonding has received the award.
He Said It Best
"My formula for success is rise early, work late and strike oil."
JP Getty, founder Getty Oil Company
Has It Really Come To This?
Saw this posted at a gas station in Jemison earlier this week. Good grief. You know if they had to post a sign, this has happened more than once. What are people thinking?
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Contact Tabitha Burrow in Birmingham,
Dolan Fannin in Tallassee or Connie Bengtson for Baldwin/Mobile.
Truitt Doing It In the Community
We have always taken a lot of pride in helping out as many churches, charities and other organizations as we can across the state and are committed to doing more. Here is a little bit of what we have been up to so far in 2021:
We were happy to help with the OneCarroll event supporting John Carroll High School in Birmingham. This event was a fundraiser for the school since its normal fundraisers were unable to be held due to Covid. This was our first year to be involved and it was a great success with almost $175,000 raised for the school that night.
Steele Baptist Church Playground Fund
Steele First Baptist is trying to raise funds for a new picnic area and playground for their church. This is our own Wayne Smith's church and we are glad to help out. I bet it turns out great. Help them out if you can. Go to steelebaptistchurch.com if you would like to contact them and help out.
Railroad Park has been a tremendous addition to the Birmingham area and continues to pull in nearby development which has run into the hundreds of millions of dollars. We have been a supporter since early on and this has been one of our proudest accomplishments. We are looking forward to being involved for years to come. Go to railroadpark.org for more information on the park.
Hoover Girls' Softball
Glad to continue our support of this program. Keep hittin'em where they ain't.
It is great having one of our staff married to a baker! Our Wayne Smith's wife, Lorraine, is the owner of Edibles by Lorraine in Steele, AL. Each month she makes us a cake we donate to the families staying at the Ronald McDonald House in Birmingham. Since they have not been able to function at full capacity during the pandemic, our May 2021 cake helps celebrate the staff coming back and the house opening up to help more people again. RMHCA has such a fantastic mission, please consider getting involved. Find more info at www.rmhca.org.
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Industry Tidbits:
  • Attempts to break into ATMs more than doubled during 2020. Travelers reported a 220% increase in ATM "smash & grab" claims. Banks have had more money in their ATMs than normal ($350,000 in an ATM at any given time) due to branch closures and limited service during the pandemic. Criminals noticed.

  • A CoreLogic report cited in the April 2021 issue of InsuranceJournal indicates over 10,000 homes were damaged during the March supercell storms that passed through Alabama & Georgia.

  • As reported in the April 2021 issue of National Underwriter, 36 states now have some type of regulated cannabis sales and it is getting closer and closer to federal decriminalization which makes it more manageable for the insurance industry. The taxman will certainly love it. U.S. cannabis sales have grown from somewhere above $10B in 2019 to over $22B in 2021.

  • Nearly 30% of drivers admit to eating behind the wheel once or twice a week. 1 in 5 of us has had a near miss while driving because they were distracted while eating in the car with over 10% having an accident of less than $2,000 and 6% reporting damage of exceeding that amount.

  • The commercial umbrella market continues to harden due to increasing loss frequency and severity, adverse prior year development, social inflation, rising premiums and a reduction in overall capacity. Habitational risks, in particular, are seeing dramatic contraction.

  • Farmers has acquired MetLife and is rebranding it under the Foremost flag.

  • According to a report by the Associated General Contractors, COVID-19 has had a significant impact on the construction industry as 60% of construction firms reported they had projects either cancelled outright or postponed due to the virus.

  • Dog adoptions have been booming during the COVID-19 pandemic. As such, dog bite claims causing bodily injury are expected to increase as well. One report shows 4,000,000 dog bites occur each year in the U.S. with associated liability claims totaling $797,000,000 in 2019 - an increase of 134% since 2003.

  • Hurricane Sally that hit Gulf Shores & Orange Beach on September 16th is estimated to have caused insured onshore property losses from wind damage, storm surge and inland flood to reach as much as $3,000,000,000.

  • Another $3,000,000,000 in losses can be attributed to that giant explosion in Beirut back on August 4th of 2020.

  • The deep freeze in Texas this February where their power-grid failed and overwhelmed utilities is being projected to potentially have claims of $18B to $20B.
  • Interesting...Insurance Journal reported in their February issue that California may have paid out $9,800,000 in phony coronavirus unemployment claims, with some of that money going to organized crime in Russia, China and other countries.

  • The February issue of iamagazine tell us that Ohio is the most dangerous state to drive in according to Insurify's The Most Dangerous States for Driving 2020 report. More than 13% of drivers have an at-fault accident on their record, 16% have had at least one speeding ticket and 5% have had a DUI.

  • Reported in the March 2021 issue of National Underwriter, Aon estimates the 416 natural catastrophe events that occurred during 2020 generated $216,000,000,000 in total global economic losses. The Unites States portion of that was $119,000,000,000, which is a 59% increase from 2019.

  • Reported in the March 2021 issue of PropertyCasualty360: According to a report from the National Highway Traffic Safety Administration, the number of vehicular deaths per miles traveled throughout the US rose by 18% in 2020 despite far less people being on the road during the pandemic.
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Tidbits:
  • Alabama Red Snapper Season Opens May 28. Click here for more info.

Contact Us:
Birmingham Office
3004 7th Ave South
Birmingham, AL 35233
(205)254-3005
Daphne Office
25935 Friendship Road
Suite D
Daphne, AL 36526
(251)625-2600
Tallassee Office
319 Barnett Boulevard
Tallassee, AL 36078
(334)991-4688
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