Position Open | Personal Lines Account Manager

Dallas Insurance JobsQualifications:

  • REQUIRED – Active Property, Casualty Insurance License – industry designations a plus.
  • REQUIRED - Minimum 2 years personal insurance experience.
  • Ability to effectively communicate orally and in writing.
  • Full knowledge of personal insurance products, policy forms, rating procedures and industry operations.
  • Ability to efficiently utilize computer programs such as Excel, Word, and PowerPoint.

Primary Functions:

  • Review and approve new business applications received from agents
  • Determine if additional information is needed to quote
  • Quote online with appropriate companies; or submit to appropriate carriers
  • Forward quotes as received to agent for review
  • Offer options to agent if standard markets are not available
  • Review binding applications for appropriate information and forms
  • Issue policies
  • Mentoring of new agents with respects to business development, completion of applications, companies, products, etc.
  • Receive and process endorsement requests from agents
  • Distribute electronic carrier communications to agents
  • Other duties as assigned

Personal & Organizational Development:

  • Sets priorities and manages workflow to ensure efficient, timely, and accurate processing of transactions and other responsibilities.
  • Maintains a cordial and effective relationship with clients, co-workers, carriers, vendors, and other business contacts.
  • Keeps informed regarding industry information, new product information, legislation, coverages, and technology to continuously improve knowledge and performance.
  • Interacts with others effectively by utilizing good communications skills, cooperating purposefully, and providing information and guidance, as needed, to achieve the business goals of the agency.
  • Understands how to perform technical tasks to expedite client service.

Position Title:   Personal Lines Account Manager
Reports To:   Agency Operations Manager

To apply for this opportunity please contact Rhonda Cox at rhonda.cox@coverica.com or call directly at (972)490-2249.

Dear Mom, I Wish You’d Had Life Insurance

life-insurance-drowning-in-billsBrittany Lacombe’s life was changed forever while on a Mother’s Day camping trip with her mother and sisters in 2011.  Her mother’s foot started bothering her so much that they called 911 and she was taken to the hospital.  They thought everything would be fine after an overnight stay.  Unfortunately things went very wrong during the night her mom died of a pulmonary embolism.

At age 20, Brittany was now the head of the family, and had to take care of her sisters who were then age 15 and 16.  Then it was one painful discovery after another.  She found out her mom had only $300 in the bank and was way behind on her bills.  On top of planning for and figuring out how to pay for the funeral she had to deal with notices that the house was about to be foreclosed on and that the water and electricity were about to be shut off.

Death is something most people never think about or prepare for.  Brittany’s mom had a small life insurance policy with her job, but lost it when she was laid off.  He mom never thought she needed life insurance because she was only 49 years old.

You can read Brittany’s full story by clicking on the link below.  http://www.dailyfinance.com/2013/04/24/life-insurance-essay-contest-brittney-lacombe/

Life insurance may be one of the most important purchases you’ll ever make.  In the event of a tragedy, life insurance proceeds can help pay the bills, provide for funeral expenses, finance future needs like children’s education, and protect your retirement plan and much more.

Life Insurance is far more affordable and easy to buy than most people think.  Noted financial guru Dave Ramsey and SmartMoney.com recommend buying term life insurance as its low premiums allow consumers to get maximum coverage at little cost.  But don’t take my word for it, call your agent and find out for yourself.

CoVerica Acquires the Assets of Dallas Based Pacific Agency, Inc.

CoVerica, Inc., one of the largest and fastest growing insurance agencies in Texas, continued its expansion by acquiring the Pacific Agency, Inc. Pacific is a Dallas based commercial property & casualty agency that was founded 19 years ago. Over the years they have specialized in insuring artisan contractors, property managers, personal lines and a wide variety of other risks.

Mike Lipes, Pacific’s Founder and President said, “We feel this move to CoVerica offers additional competitive options for our clients. CoVerica has access to more national and regional insurance markets, has greater negotiating power and employs a large and experienced staff focused on personal service.”

Long time Pacific employees Donnell Reed and Pamela McCord have joined the service team at CoVerica. They will continue their roles of customer sales, support and service as they have in the past, as well as undertaking new roles for CoVerica.

Michael Sterlacci, CoVerica’s President and Chief Executive Officer, commented, “I am very excited to about the opportunities this acquisition provides for CoVerica and its employees and am pleased to welcome Donnell Reed and Pamela McCoy to the CoVerica team. Their presence at CoVerica will continue to solidify the ongoing relationships with the Pacific Agency clients and provide valuable additions to the CoVerica operation.”

CoVerica is an innovative nationwide insurance agency based in Dallas and serves the entire DFW Metroplex and beyond. They offer competitively priced, comprehensive insurance options including commercial property and casualty, employee benefits, bonds and personal insurance.

Additional information about CoVerica, Inc. may be obtained by contacting CoVerica’s President and CEO, Michael T. Sterlacci at CoVerica’s headquarters, 5999 Summerside Drive, Suite 200, Dallas, TX 75252, telephone number (972) 490-8800, or by visiting CoVerica’s website at www.Coverica.com.

What Does “Full Coverage” Really Mean?

insurance coverage explainedIn the insurance industry, the words “full coverage” have more than one meaning. It all depends on who you’re talking to. To an insurance agent, “full coverage” is simply providing enough coverage to fully protect a vehicle for all perils that could cause damage to the vehicle. The first portion of this coverage is comprehensive, which is sometimes referred to as “other than collision.” This coverage will protect the vehicle in all cases where a collision with another vehicle or fixed object does NOT occur. It includes things like vandalism, theft, hitting an animal, and even weather-related losses such as hail. The second portion of “full coverage” is collision. This coverage will protect your vehicle in the event of a collision with another vehicle or a fixed object of some sort – like a guardrail or utility pole. These two coverages combined are what make up “full coverage” on your auto insurance policy, and there is always a deductible associated with claims involving comprehensive or collision. Most people carry $500 deductibles, but you have the option of choosing anything from $50-$1000 with most insurance companies.

To you as the consumer, “full coverage” might mean that you are fully protected no matter what and unfortunately, this could not be further from the truth. In reality, it only means that the vehicles you choose to carry full coverage on are fully protected. You and your passengers are NOT guaranteed protection for your injuries and thus hospital bills and time off work unless you have additional coverage on your policy for these things. Take for example, you driving down the road and being rear-ended by a vehicle that isn’t insured. If you have comprehensive and collision (“full coverage”), the damage to your vehicle will be repaired after you pay the applicable deductible, but what about any injuries you and your friend in the driver seat incurred as a result of the collision? Without having uninsured motorists bodily injury listed on your policy, your injuries would have to be covered under your health insurance. You’d have to cross your fingers and hope that your friend has health insurance coverage as well, because if they don’t, you could be the one responsible for covering their injuries since they were in your vehicle when the accident occurred.

All too often we talk with members who believe they have every coverage available just because they asked for “full coverage” when they got their last policy. After consulting with one of our agents, they revisit their coverages and find out they don’t. It’s usually the uninsured motorists, personal injury protection, roadside and rental car coverages that have been left out. And although carrying these four additional coverages might mean paying a bit more on your monthly insurance bill, leaving them out altogether could cost you – whether it’s having to pay the rental car bill when you have an accident and put your car in the shop or, even worse, having to hire a lawyer once you find out that you’re being sued by a passenger in your vehicle from the uninsured motorist that rear-ended you. Even if you don’t want to pay a higher premium for more coverage, it’s best to know what you’re paying for now so you can plan for something better in the future once your budget allows for it. It’s also beneficial to know the details on your coverage when shopping around for better rates. If it’s been awhile since your last “insurance check-up,” give one of our licensed agents a call at 800.490.8800 and have your policy ready. We can shop around with over 16 different auto insurance companies on your behalf. Just remember that the first step to making a positive change requires you know what you’re paying for now. How else would you be able to judge whether what you’re paying now is too much? At the end of the day, insurance is just like anything else you buy – you pay for what you get. Your price should indicated the level of coverage you have on your policy, and if it doesn’t then it’s time to give us a call!

Preparing for the Unexpected

Insurance for the unexpectedLife situations can change your day in an instant here in Texas. Hail, thunderstorms, tornados, fires, burglaries, accidents, major illnesses, disability and even death are events most of us are not well prepared for. Taking the time to prepare can minimize the impact on us and our families and avoid some of the stress that comes with these unexpected emergencies. When faced with an emergency, having the right insurance in place for you and your family could make all the difference. Below are some issues you should spend some time thinking about so you will be prepared for the unexpected.

Select a health insurance policy that matches your needs with appropriate coverage, deductibles, co-payments and choice of medical providers.

Protect your earning power with long-term disability insurance. If you can’t get adequate short and long term coverage through work, consider an individual policy.

Confirm that your auto and homeowner’s policy coverage and deductible work for you. Take the time to call your agent and schedule an annual review. Go over your policies and discuss what’s covered and what’s not. Talk to your agent about flood insurance if it is a concern in your area.

Check out this article from the Insurance Information Institute regarding issues you should be prepared to discuss during your annual review

Life insurance. Take advantage of the policy offered by your employer, and get outside coverage if the policy is not transferable or if you need additional life insurance. If you need help in determining how much life insurance you need, go to Bankrate.com and check out their Insurance Calculator. By answering questions they can help you make an informed decision.

Additional Liability coverage. A personal liability “umbrella” policy may be a cost effective way to increase your coverage against liability lawsuits by providing $1 million or more. Protect yourself and your family with an extra layer of affordable liability protection over your current homeowners and auto insurance policies. You might need a personal umbrella policy if you

  • Own a car
  • Own a home
  • Want to protect your future earnings
  • Want to protect your assets against a lawsuit or judgment

Who Will Finish the Job? Learn the Importance of Surety Bonds

Surety-Bonds-dallas-insurance-agencyWhat happens when a large road contractor goes bankrupt, in the middle of a construction project? Who picks up the pieces and who pays to finish the job? That’s the problem faced in San Antonio as reported by WOAI in this recent article.

Although surety is an ancient concept, its prime mission can be stated simply: performing a service for qualified individuals/companies whose affairs require a guarantor. In the United States, surety guarantees have been issued by corporations for over a century. These corporate sureties have the necessary capital to make numerous commitments in the form of surety bonds.

Because insurance companies issue many surety bonds, some people think that insurance and surety bonds are the same thing. While there are similarities, there are also major differences. A bond guarantees the performance of a contract or other obligation. Bonds are three party instruments by which one party guarantees or promises a second party the successful performance of a third party.

        1.

The Surety

      — is usually a corporation which determines if an applicant (principal) is qualified to be bonded for the performance of some act or service. If so, the surety issues the bond. If the bonded individual/company does not perform as promised, the surety performs the obligation or pays for any damages.

 

        2.

The Principal

      — is an individual, partnership or corporation who offers an action or service and is required to post a bond. Once bonded, the surety guarantees that he will perform as promised.

 

        3.

The Obligee

    — is an individual partnership, corporation or governmental entity which requires the guarantee that an action or service will be performed. If not properly performed, the surety pays the oblige for any damages or fulfills the obligations.

The purpose of a surety is to protect public and private interests against financial loss. Here’s a recent example of how Surety Bonds saved the state of Texas, the city of San Antonio and tax payers millions of dollars when a large contractor went into bankruptcy. The city and state had 10 contracts with the contractor when work on all those projects stops. The surety bonding companies Liberty Mutual Insurance Company and Zurich American Insurance Company came in and received court approval to take financial control over projects and eventually restart work on them.

Source: WOAI 4

When Meteorites Attack – Would My Homeowners Insurance Cover It?

If you haven’t read the news today, Russia had an asteroid encounter today, February 15th. The footage coming in is absolutely incredible. Hundreds of videos are pouring in from dash cams and cell phones which look like something taken from Hollywood’s latest “this is how the world will end” summer blockbuster.

Check out some of the best video footage compiled here:

So the question begs asking, “If my home was damaged from a meteor or an asteroid, would my homeowners policy cover it?” The more likely question might also be “would the resulting shockwave be covered” as that would affect far more people than a direct strike or impact (check out 9:30 in the above video). The answer to that question, like many insurance questions, depends on the homeowners insurance policy that you purchased.

Many insurance carriers will only offer a policy that covers “Named Perils.” Unless they specifically name the cause of loss, it’s not covered. A typical named peril policy might read, “Damage is covered as long as it results from fire, lighting, theft, wind, and water damage not caused from flooding.” Notice a few things missing from this list, specifically: flood, foundation settling, power surge, wear/tear, earthquake, riot, war, civil unrest and yes, asteroids and meteorites.

On the other hand, if you have an open peril policy, or what is sometimes referred to as an all-risk policy, you’re covered for anything NOT specifically mentioned. An all risk policy may read, “All damage is covered unless it results from flood or wind driven rain.” That basically means anything other than flood or wind driven rain, which can be purchased on a flood policy, is covered. Sonic booms, asteroids, alien invasions, and anything else you could dream up would be covered as long as it’s not specifically named in the policy.

Now where’s Bruce Willis from Armageddon when you need him?

Gauging Your Distraction – Texting While Driving

According to a recent survey by the Insurance Council of Texas, which represents 500 insurance companies that sell auto coverage, about 9 out of 10 Texans believe that drivers who are in a car accident because they were texting should get higher insurance rates.  Council spokesman Mark Hanna said “We have worked for years to get drunk drivers off our roadways.  Now we are dealing with a driver that is much more dangerous.” 

Studies have shown that the average driver takes their eyes from the road for 4.6 seconds each time they send a text.  Going down the highway at 55 mph means that a driver can go the length of a football essentially on autopilot.  Similar studies have shown that a driver is up to 23 times more likely to crash when they’re texting, compared with a driver with 0.08 blood alcohol content, the legal driving limit.

Distracted driving is becoming increasingly common and has hazardous consequences.  In 2011, there were more than 81,000 Texas crashes involving distraction, driver inattention or cell-phone use.  Of these, 361 were fatal.  In fact, nearly one in four crashes in Texas involves driver distraction.

Do you have some friends or family that don’t believe that texting while driving affects their driving ability?   Have them take this challenge.  The New York Times has a game posted on their website where you can see how texting affects your driving ability.  Click on the link below for instructions and then you can test your skills.

http://www.nytimes.com/interactive/2009/07/19/technology/20090719-driving-game.html

Regardless of your results, experts say, you should not attempt to text and drive.

I Didn’t Know I Had Actual Cash Value Coverage on My Roof!

More and more Texans are finding out the hard way that they don’t have the coverage they thought they had on their roofs.  In recent months, some property and casualty insurers  have filed to expand or shift their roofing policy terms to include actual cash value policies. Most of the time, consumers have no idea they have ACV coverage on their roof until they file a claim.

So what’s the big deal and how would this play out in real life if your roof was damaged?  A replacement cost policy would pay for a new roof of like kind and quality whereas an actual cash value policy would pay for a new roof minus depreciation.

Let’s say you had a roof that was 10 years old.  The bid to replace the damage roof was $20,000.  The insurance adjuster would calculate a figure of how much depreciation has occurred and pay accordingly.   Instead of paying $20,000 to replace the roof, they may give you $15,000.  Do you really want to be stuck paying $5,000 plus your $1,500  deductible out of your pocket?

I don’t know about you, but this doesn’t sound like a good plan to me.  There are a few times where actual cash value makes sense or instances where insurance companies will not offer replacement cost.  But you should be aware of the coverage you are purchasing at the time you buy the policy.

There are many things in life you cannot control, but you can control your ability to recover from unforeseen events by having adequate insurance coverage.  Meet with your insurance agent annually or as needed to ensure your insurance coverage is adequate to protect you and your family against loss.

The bottom line is that you need to be aware of how you are protecting one of your largest assets.  Are you 100% sure you have the proper coverage?  Speak with your agent to ensure you are being protected correctly on your insurance policy.

Position Open | Commercial Lines Account Manager

To apply for this opportunity please contact Rhonda Cox at rhonda.cox@coverica.com or call directly at (972)490-2249.

Position Title:   Commercial Lines Account Manager

Reports To:   Agency Operations Manager

Primary Functions:

  • Provide assistance to producers in handling and processing of new and renewal commercial lines business.
  • Provide customer service to clients as assigned and requested.

Major Responsibilities:

  • Coordinates expirations with producer and/or account executive to obtain renewal and/or new business information.
  • Assists producer in marketing new and renewal business, determine premiums, prepare presentation packets and maintain underwriting and marketing information by carrier.
  • Checks new and renewal policies for accuracy in rating, typing, coverages, signatures, and input these transactions to agency management system to generate billing invoices in a timely manner.  Ensure that these items are delivered and/or mailed to client.
  • Receives phone calls from clients and companies regarding insurance, claims, or administrative matters, and comply with the request and/or refer to the producer/management when necessary.
  • Responds to clients’ needs by producing binders, auto id cards, certificates of insurance, policies, endorsements, and other related items; verifies their accuracy.
  • Processes incoming mail requests, responding promptly and appropriately.
  • Maintains a suspense system to follow up on outstanding orders, correspondence, reports, and follow up on overdue and suspense items.
  • Is familiar with and follows agency E&O guidelines.
  • Maintains electronic files in an orderly, up-to-date manner according to agency standards.
  • Assists clients in submitting first reports of claims; facilitates initial prompt response from carrier staff and follows up on claims status to keep insureds informed; uses each claim contact as an occasion to review coverages and market as needed.
  • Performs special projects at management’s request.

Personal & Organizational Development:

  • Sets priorities and manages workflow to ensure efficient, timely, and accurate processing of transactions and other responsibilities.
  • Maintains a cordial and effective relationship with clients, co-workers, carriers, vendors, and other business contacts.
  • Keeps informed regarding industry information, new product information, legislation, coverages, and technology to continuously improve knowledge and performance.
  • Interacts with others effectively by utilizing good communications skills, cooperating purposefully, and providing information and guidance, as needed, to achieve the business goals of the agency.
  • Understands how to perform technical tasks to expedite client service.

Qualifications:

  • College education or equivalent insurance experience.
  • Maintain Property, Casualty Insurance License.
  • Ability to communicate orally and in writing with others to explain complex issues, receive and interpret complex information, and respond appropriately.
  • Ability to understand written and oral communication.
  • Full knowledge of commercial insurance products and usages.
  • Adequate knowledge of commercial rating procedures, coverages, and industry operations.
  • Full knowledge of insurance markets and reference to markets.
  • Knowledge of insurance rating and underwriting procedures.
  • Ability to carry out complex tasks.
  • Ability to utilize computer programs and understand functionality.