1st        Labor Day

             NAIW National Office Closed

6th        IW of NE MS 7 hour “I Can” Classes, Tupelo, MS

8th        National Grandparent’s Day

9-11th    PIA Agent’s License Review, Jackson

10th       23rd Annual Insurance Education Day, Jackson, MS

12th        NAIW “Inroads” Emailed

18th         Monthly Business Meeting of the IW of SW MS

20th         Leadership Retreat, Jackson

23rd        First Day of Fall

                Fire Safety Month

10-11th    MS Council State Meeting

7-9th        IIABA Agent’s License Review, Jackson

13th         Columbus Day

As utility and government experts continue to search for the precise cause of the August 14, 2003 blackout across the northeast United States and southern Canada, the event has been declared a catastrophe, with expected insurance–related losses reaching over $25 million.

Hurricane Claudette, which ripped through the Texas coastline in July, caused an estimated $90 million in insured losses, according to a trade group that said it doesn’t expect the number to increase further.

Louisiana Insurance Commissioner J. Robert Wooley has joined 16 other state insurance regulators now lobbying against federal regulation of the industry and is helping to form a grass–roots campaign to keep insurance regulated at the state level.

An insurance credit score, sometimes called a consumer report, is not the same thing as a true credit score.  While these are based on similar items, they are distinctly different.  An insurance score predicts the future loss of an individual.  A credit score predicts the likelihood of future delinquency on credit accounts of a customer.

Every insurance company differs in how and why they use insurance scores.  Companies use scores in the underwriting process.  Usually the better the score, the lower the insurance premium, or the better the rating tier.

Insurance inquiries on a credit report generally do not affect a customer’s ability to get a loan.  The majority of major credit providers do not use models that evaluate insurance inquiries when calculating credit scores.

If an insurance company denies insurance or terminates an insurance policy because of information obtained or based in part on a credit report, then that information must be disclosed to the insured.  The disclosure must include the name, address, and toll free telephone number of the consumer reporting agency that supplied the information to the company; a notice of the individual’s right to dispute any incorrect or incomplete information; and must inform the policy holder that he may request a free copy of his credit report from the consumer reporting agency.

Income, ethnic group, religion, gender, address, marital status, and nationality have no effect on insurance scores.

An insurance score is a snapshot of a customer’s insurance risk based on information in their credit report that reflects credit payment patterns over time, generally with more emphasis on recent information.  A customer can improve their insurance score by paying their bills on time, keeping credit balances low, and keeping accounts current.  Also concerned customers should apply for and open new credit accounts only as needed.  Customers can improve their insurance score over time by using credit responsibly.  It is also a good idea for customers to periodically obtain a copy of their credit report from the thee major credit bureaus to check for any inaccuracies.

Do not hold a meeting if the matter can be settled by other means.  If you can make a simple phone call, or send an email, then there is no need to hold a meeting.

The purpose of the meeting should be clear.  Everyone has gone to meetings and thought what are we doing here.  Make sure that the people you have attending your meeting know why they are there.

Only ask people to attend the meeting if their presence is required.  You do not have to ask every member of you association to attend a meeting, if you only need input from the membership committee.

Start at the time announced.  Don’t hold up the meeting because someone is not there.  If they are late then they are late.

End at the time announced.  Make it a point to end the meeting as scheduled.

Don’t get off topic.  Stay focused.

Be prepared.  Know what you want to accomplish in the meeting.

Schedule the meeting wisely.  Don’t try to cram too many items into a meeting.

Make it simple.  Combine two separate items into one if it is possible.

Don’t be afraid to cancel.  If the problem has been resolved, cancel the meeting.

Ruthie is currently taking three night classes at Southwest Community College.  She is taking British Literature I, General Psychology, and Human Growth and Development.  The class work is keeping her busy.

Deb is busy practicing her magic tricks.  She is looking forward to putting on a show!  She has also been helping Virginia with her costume and she has been working on sewing projects for the State Meeting.

Keri Morrell is studying for her AAI 82 & 83 exams in September.  She has managed to spend some free time at deer camp getting it ready for hunting season.

Virginia has been watching her grandson, Chandler, take his first steps.  Pretty soon, he will be running and Virginia will be trying to catch up!  Her other grandson, Hayden, will be starting soccer soon.

Don’t forget to visit the National President’s page on the NAIW web site.  Take a few minutes to print out the Winner’s Circle card.  Be sure to keep track of your ignition points.

The Mississippi Department of Insurance has filed with the Secretary of State’s Office a proposed regulation on the practice of credit scoring in personal lines insurance underwriting that would balance the industry’s use of the practice with consumer protection concerns.

A public hearing for this proposed regulation will be held in the Old Supreme Court Chamber f the New State Capitol, Room 216, on Tuesday, September 9, 2003 at 9:30 A.M. to consider adoption of Mississippi Insurance Department Regulation 2003-01, entitled “Use of Credit Information for Determining Rates and Eligibility for Personal Insurance.”  Any and all persons wishing to testify at the hearing must register with the Insurance Department by 4:00 P.M. Friday, September 5, 2003.  A copy of the proposed regulation may be viewed at http://www.doi.state.ms.us/regulations/20031reg.pdf.

The federal Fair Credit Reporting Act allows insurance companies to use credit scoring in their underwriting for personal lines insurance.  Companies defend the practice, maintaining that there is a direct relationship between an applicant’s credit score and their level of risk.  However, state regulators have raised concerns that consumer’s adverse credit scores can be a result of situations such as divorce, death, medical emergencies, or loss of employment and subsequent bankruptcies.  A consumer’s credit score can also be erroneously impacted by repeated inquiries into their credit history when consumers shop for mortgages or cars – or even by lack or limited use of credit.

The proposed regulation would prohibit the use of credit scoring as the sole underwriting criteria in such scenarios, as well as being the sole reason for refusing to write or re-rating an applicant to a more expensive class.

Meetings can be a very powerful way to communicate and solve problems.  Below are some tips that can help you run an effective meeting.

Have an agenda.  Outline ahead of time what points will be covered in the meeting.

Follow the agenda.  This sounds like common sense, but you would be surprised by the number of people who make an agenda, then they don’t follow it.

Limit the agenda to three points or less.  Pick the three most important things that need to be covered in the meeting.

Set a time limit and don’t go over that limit.  Meetings can be more productive when you know you have a certain amount of time to get the work done.

Encourage participation from everyone, but don’t force them.  Don’t go around the table asking for everyone’s input, just ask a question and let people respond.