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A quarterly e-newsletter just for LMCIT's insurance agents.
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Welcome to the Fall 2019 issue of the Agent Insider!
TABLE OF CONTENTS

2019-2020 Inflation Factors

Agent Meet & Greets

Licensed Daycare Facilities

Agent Commissions for the LMCIT Workers' Compensation Program

Cities and Contracts

Staff Spotlight: Michael Neff

LMCIT Staff Contact Info

E-Newsletter Archives

Keep in Touch
2019-2020 Inflation Factors

Premium Outlook EstimatesAs most of you are aware, our partners at HCA Asset Management provide us a set of inflation factors that we apply for each underwriting year. HCA uses a variety of industry tools to develop these factors.

The following are the inflation factors effective 11/15/2019-11/14/2020 that will be applied to property, mobile property, and property in the open:
 
Building - 4% increase
Contents - 4.8% increase
Property in the Open - 4% increase
Mobile Property - 3.2% increase


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Agent Meet & Greets

Covering City VolunteersAt the 2019 Spring Loss Control Workshops, we asked if you would be interested in having us develop Agent Meet & Greet Training Sessions. We received a positive response and have started developing these sessions. 

Our goal is to help expand your knowledge of the Insurance Trust, covering a wide variety of topics from various departments, like: 
  • Hot coverage issues from Underwriting 
  • Processes and real-life examples from Claims
  • How risk management benefits members from Loss Control
  • An overall look at the Trust and why/how it differs from commercial insurance carriers
Our hope is these meetings will be interactive, allowing a lot of time for Q&A so your questions can be answered throughout the day. We also hope to get the Meet & Greet Sessions approved for Continuing Education credits.

We’ll keep you posted with details as they are finalized, and we look forward to working more closely with you and inviting you to these valuable meetings!

For more information, contact LMCIT Program Manager Kris LeRoy at kleroy@lmc.org or (651) 281-1268.


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Licensed Daycare Facilities 

PATROLThe LMCIT Municipal Liability coverage excludes damages for bodily injury, property damage, or personal injury arising out of the city’s ownership, operation, or maintenance of any licensed child care program.

This exclusion does not apply to a “drop-in child care program” as defined by state statute, nor does it apply to a summer day camp, holiday break camp, or similar program. If you have any questions on this exclusion—or if a member you work with is considering a licensed daycare facility—please contact one of our underwriters. 

We recognize that a number of our members are looking for ways to expand child care options within their communities, and we’ll continue to monitor the demand for additional coverage options. 


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Agent Commissions for the LMCIT Workers' Compensation Program 

Machinery Breakdown CoverageLMCIT workers’ compensation rates include an allowance for a 2 percent agent’s fee, which has historically been the default commission percentage.

In 2020, the LMCIT systems will be able to accommodate and process other commission percentages agreed upon between the agent and member.

For more information on this change, feel free to contact Janna Berge at jberge@lmc.org.

And for more information on the agent’s role and compensation with the Trust more generally, read The Agent’s Role and Compensation in LMCIT.


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Cities and Contracts 

Machinery Breakdown CoverageAgents are often asked to help cities with elements of risk management for contracts cities are entering into—particularly insurance and indemnification requirements.

A reminder that LMCIT provides a Contract Review Service to help member cities address problems that can arise in contractual relationships. 


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Staff Spotlight

Name: Michael NeffKathryn Connell

Title: Loss Control Representative

What I like best about my job: I get to meet a lot of different people and there is something new almost every day! 

City I grew up in: Oxford, Michigan


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LMCIT Staff Contact Info

We realize that between LMCIT's Loss Control, Underwriting, and Claims departments, there are a lot of names and contact information to keep track of! The League's website allows you to search for a person by department or employee name, and the contact information for each employee is also provided.

Bookmark this link or otherwise keep it handy so that you can easily access the LMCIT contact information you need!
 

E-Newsletter Archives

Did you miss one of the issues of the Agent Insider? Never fear! We've archived the most recent four issues for you here.


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Keep in Touch
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