October is Cybersecurity Awareness Month!
Did you know a new cyberattack occurs every 39 seconds and 64% of companies have experienced at least one cyberattack?
That’s why cyber safety is becoming an increasingly common concern for people across the globe in all industries—and rightfully so. However, we understand that this is a complex risk and you may not know where to start or be overwhelmed by how fast cyber best practices change. But just because it’s called the “dark web” doesn’t mean you should be in the dark about the risks and best practices—so we’re here to help.
Glatfelters has a cybersecurity microsite to help you understand your risks, know what to do if you experience a breach and understand key ways to help prevent one from happening in the first place.
WinStar Insurance Group continues for the 4th year to be part of an elite group of independent insurance agencies around the United States participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) Best Practices Study Group.
The agencies comprising the study group are selected every third year through a comprehensive nomination and qualifying process and awarded a “Best Practices Agency” designation. The selected Best Practices agencies retain their status during the three-year study cycle (2022-2024) by submitting extensive financial and operational data for review each year. During the 2023 Study year, only 264 independent agencies throughout the U.S. qualified and retained their status as a Best Practices agency.
The Best Practices Study was initiated by IIABA in 1993 as the foundation for efforts to improve agency performance. The annual Study of leading independent insurance agencies, which is conducted by the Big “I” and Reagan Consulting of Atlanta, GA, documents the business practices of these “best” agencies and urges others to adopt similar practices.
For over 30 years, the Big “I” has developed a family of products and webinars designed to help cultivate a Best Practices agency culture. The offerings include materials such as the Agency Comparison Workbook, Guide to Producer Contracts, the Customer Service Experience Handbook, Sales Potential Quick Check, Interactive Agency Self-Diagnostic Tool, and Best Practices Joint Planning Tool Quick Step. Many of the publications include guidelines, worksheets, and case studies to help agents apply the information contained in each report and move beyond theory into practice.
In addition to these materials, hundreds of workshops and seminars have been conducted at various producer association functions, company sponsored agency meetings and national automation users group conventions.
The Big “I” and Reagan Consulting jointly maintain the Best Practices Gateway website (www.reaganconsulting.com/reasearch/best-practices) that provides executive summaries of the annual Best Practices Studies and various Best Practices tools. The Gateway, as well as the annual study, is made possible in part through the financial sponsorship of various insurance companies and industry organizations.
The 2023 Best Practices Study sponsors include: Amerisure, Applied Systems, Central Insurance, Chubb, EMC Insurance, First Insurance Funding, The Hartford, Imperial PFS, InsurBanc, Liberty Mutual Insurance, Safeco Insurance, State Auto Insurance Companies, National General, Nationwide, Progressive, SunLife, Travelers, Vertafore, Westfield Insurance and Westfield Bank.
For more information on the Best Practices Study, contact Jennifer Becker at IIABA, 1-800-221-7917.
Founded in 1896, the Independent Insurance Agents & Brokers of America (the Big “I”) is the nation’s oldest and largest national association of independent insurance agents and brokers, representing more than 25,000 agency locations united under the Trusted Choice brand. Trusted Choice independent agents offer consumers all types of insurance—property, casualty, life, health, employee benefit plans and retirement products—from a variety of insurance companies.
We are pleased to announce that in May, Texas Mutual announced that its board of directors voted unanimously to approve a $340 million dividend distribution in 2023. Dividends will be distributed to qualifying policyholders in late June.
This year marks the 25th year that Texas Mutual is paying dividends to their more than 57,000 policyholders, bringing the total to over $4 billion back to Texas businesses since 1999.
You can log in to your Texas Mutual Online (TMO) account to see whether you will receive a dividend starting June 23. Your agent will be able to see dividend information for their qualifying clients starting June 5.
PLEASE REACH OUT TO US IF YOU HAVE NOT RECIEVED YOUR CHECK BY MID-JULY
WHAT IS A DIVIDEND?
As a policyholder-owned company, Texas Mutual clients contribute to their success when they make safety a priority and choose to do business with Texas Mutual. There are two components to earning a dividend. Safety, paid through the annual component, and loyalty, paid through the retention component. Our newer Texas Mutual policyholders can also earn dividends through the early qualifier program, which is paid in November. Since 1999, Texas Mutual has distributed over $4 billion back to Texas businesses.
Dividends are based on performance, are not guaranteed and must comply with Texas Department of Insurance regulations.
We officially celebrated Barbara and Glenn's official last day of work today.
As we enter 2023, we are excited (yet sad) to share that two of our leaders, Barbara Marzean and Glenn Hastings, have chosen to retire after more than 90 years (collectively) in the insurance industry. They have led this agency through many changes, challenges and success and they will both definitely be missed. We wish them well as they embark on the next chapter of their lives that will involve travel, relaxation and lots of time with their families.
WinStar will continue to operate with the same staff under the new leadership of President Stephanie Dew. Steph has been with the agency since 2010 and was previously the VP of Sales. We are confident that WinStar will continue to grow and flourish for many years to come.
Thank you again for putting your trust in WinStar Insurance Group. That will never be taken for granted. Wishing you and your families a Happy and Prosperous New Year!