Founded in 1843, Frederick Mutual is the 3rd oldest insurance company in Maryland, and the 9th oldest in the U.S. We invite you to join in celebrating Frederick Mutual's legacy of Providing Peace of Mind for policyholders in every season!
FMIC Member Approval of Mutual Insurance Holding Company
FREDERICK MUTUAL INSURANCE COMPANY announces member approval of its reorganization to a mutual insurance holding company system
On December 15, 2022, on the company’s 180th anniversary, Frederick Mutual’s members approved the reorganization of Frederick Mutual under Maryland law to a mutual insurance holding company structure. Through the reorganization, Frederick Mutual will become a stock insurer subsidiary of a newly formed mutual insurance holding company, Frederick Mutual Holdings, Inc. As part of the reorganization, Frederick Mutual Group, Inc. will also be formed as an intermediate holding company for Frederick Mutual. The members’ vote to approve the new structure follows approvals by the company’s Board of Directors and the Maryland Insurance Administration.
With this new structure, a Frederick Mutual policyholder’s rights and benefits under their insurance policy will remain the obligations of Frederick Mutual while all existing and future policyholders of Frederick Mutual will retain their mutual ownership rights by automatically becoming members of Frederick Mutual Holdings, Inc. The structure will allow Frederick Mutual to retain its identity and storied history of mutual ownership while providing flexibility to thrive in today’s dynamic and competitive environment.
Frederick Mutual insurance Company was founded in 1843, is the 3rd oldest insurance company in Maryland, and the 9th oldest in U.S.
Celebrating 180 Years!
Frederick Mutual Employee Spotlight: Allie Villatoro
When it comes to settling insurance claims, a friendly and caring face goes a long way. This month Frederick Mutual celebrates our Claims Assistant, Allie Villatoro.
Allie works in building professional relationships with salvage vendors, engineers, auto appraisers, attorneys and independent adjusters. In addition, Allie is bi-lingual and assists Spanish speaking policyholders and agents. We sincerely appreciate Allie’s joyful presence, positive attitude, and collaborative nature at Frederick Mutual!
Frederick Mutual Appoints New Board Member: Karen Furtado
FREDERICK MUTUAL INSURANCE COMPANY announces the appointment of Karen Furtado to the Company’s Board of Directors.
Frederick Mutual Insurance Company is excited to announce the appointment of Karen Furtado to its Board of Directors. For more than 30 years, Karen has held leadership positions across the insurance industry. She was previously the Vice President of CGI's Insurance Practice, where she was responsible for the development and oversight of CGI's insurance software services, hosted software services, and core insurance BPO practice. Karen currently provides insurance technology consultative services as a Partner with Strategy Meets Action, located in Boston, MA. Karen’s overall insurance and information technology background complements the expertise of the FMIC Board of Directors.
Frederick Mutual insurance Company was founded in 1843, 3rd oldest insurance company in Maryland, 9th oldest in U.S.
Celebrating 179 years in 2022!
Frederick Mutual Awarded NUProperty&Casualty Luminaries Technological Innovation Distinction
Under new president and CEO Nancy Newmister, FMIC undertook an aggressive modernization program that spurred the launch of 21 new products by 2021, including the core roll-out, agent app and policyholder app. Thoughtful integration has allowed the company to reorganize products, processes and strategies around the new platform. Cost savings from improved efficiency in risk assessment, underwriting and claims processing have dropped the company’s combined ratio by 11 points below the prior five-year average.
This professional recognition program spotlights innovation in the property & casualty insurance sector. Honorees are companies, people, programs and practices that are modernizing and humanizing P&C insurance. Honorees are selected by a panel of industry experts based on how well they stated and achieved goals with regards to the nomination category; how impactful their work has been; how dedicated the nominee has been to furthering modernization and humanization in the insurance business; and the nominee’s commitment to the highest ethical standards as well as dedication to service and excellence.
“Today’s top insurance organizations recognize the industry’s history and purpose while embodying contemporary processes and services,” says NU Property & Casualty Executive Editor Elana Ashanti Jefferson. “My colleagues and I are thrilled to be able to recognize pace-setting insurance organizations, programs, practices, teams and individuals as part of the annual NU PropertyCasualty360 Luminaries recognition program.”
Inflation and Your Insurance
Frederick Mutual sheds light on inflation factors affecting insurance costs and how Frederick Mutual is coming alongside our policyholders.
Insuring Your Happily Ever After!
Frederick Mutual provides insurance reminders for couples as wedding season approaches!
Frederick Mutual Awarded with Great Place to Work Designation for 2022!
Please read more about this national certificate here.
Electric Vehicles and Your Insurance Policy
Insuring Customers with Solar Panels
Solar panels adorning the tops of roofs are becoming more and more common, especially in the sunniest states in the United States. Frederick Mutual has composed a list of risks to think through when installing solar panels on your home. Read below to make the wisest decision on this innovative energy alternative!
Frederick Mutual Provides Contractor's E&O Coverage
As home and commercial improvement projects ramp up this Spring, contractors may be experiencing an influx of homeowner and commercial project requests. More projects can mean increased chances of overlooking details that could lead to mistakes while on the job. With Frederick Mutual’s Contractor’s E&O coverage you can have peace of mind knowing you are protected from any claims against your work, products, or impaired property while completing projects. Read here to learn more about this coverage offering and contact your agent today to learn more about Contractor’s E&O.
Frederick Mutual Insurance Company Leader Honored with Women In Insurance Award
Award recognizes President & CEO for visionary leadership in driving modernization, accelerating growth, and delighting agents and policyholders
Frederick, MD, March 1, 2022. Frederick Mutual Insurance Company (FMIC) is pleased to announce its president and CEO, Nancy Newmister, has been recently recognized by Digital Insurance with the Women in Insurance Leadership award. Nancy was selected as an honoree for this prestigious recognition based on her resounding success transforming FMIC into a modern, thriving insurance company.
For nearly 20 years, Digital Insurance's Women in Insurance Leadership program has honored women in insurance leadership roles who innovate to propel their companies, industries, and communities forward. When Nancy took the helm as president and CEO of FMIC in 2016, she aimed to break through old notions about insurance by taking a fresh, modern look at insurance products and packages. In less than five years, she transformed FMIC into a well-positioned organization with increased brand awareness and shareholder value, while charting a transformational business and technical roadmap for the company to double its size. She further modernized the company by going fully paperless. As further illustration of Newmister’s leadership, her collaborative management style also helped win FMIC a Frederick County Best Places to Work award in 2020.
Newmister, a consummate team player, said, “I believe our success is in the team’s commitment and their level of consistency and care, they hold themselves accountable. It takes all of us to make these things work.”
"Nancy has been able to bring a century-old insurance company into the modern day with savvy digital investments and decisions," says Nathan Golia, editor in chief of Digital Insurance. "It's an honor to bring her into our Women in Insurance Leadership pantheon."
Nancy was nominated by one of FMIC’s partners, BriteCore, a leading provider of cloud-based core policy administration systems for P&C insurers. Echoing the praise, BriteCore CEO Ray Villeneuve remarked, "Nancy is a transformational leader. She and the Frederick Mutual team are a shining example of the forward-thinking mutual insurers we strive to work with. Her high level of commitment, partnership, and collaboration through Frederick's core system transformation project is a testament to the professional dedication Nancy and her team bring towards leveraging innovation and growing their business. We congratulate Nancy and FMIC on this prestigious Women in Insurance Leadership honor.”
As an honoree, Nancy was recognized in front of her peers at the DIGIN 2021 Digital Insurance conference this past December. With this recognition, Nancy and her team put FMIC, the mighty mutual, on the map of regional insurance carriers.
About Frederick Mutual Insurance Company
Founded on December 15, 1843, FMIC has continuously operated for 179 years as a mutual insurance company that empowers its policyholders through shared ownership and provides peace of mind in the most trying of times. They work with top agents across the Mid-Atlantic and Southeast region to provide policyholders with products that keep their homes, businesses, and communities safe.
FMIC initially served Maryland, then expanded their operating territory into Pennsylvania, Virginia, Delaware, D.C., and North Carolina. As the third oldest insurance company in Maryland and the ninth oldest in the United States, FMIC’s longevity is attributed to strong financials, derived from safeguarding the interests of our policyholders, and keeping pace with an ever-changing industry.
About BriteCore
BriteCore is a cloud-native platform for P&C insurers that unlocks business growth, enhances the customer experience, and delivers great efficiency gains. BriteCore provides end-to-end support for insurance operations that includes policy administration, an agent and policyholder portal, rapid product configuration, underwriting rules and rating, billing management, claims management, document management, and reporting. As a cloud-native solution, BriteCore is continually updated for maximum security, efficiency, and durability at scale.
FREDERICK MUTUAL INSURANCE COMPANY INTRODUCES FREDERICK MUTUAL SECURE® HOME
A new year has brought new personal lines products at Frederick Mutual Insurance Company. The newly released Frederick Mutual Secure® Home and Personal Umbrella policies offer an array of coverage options and extension endorsements, a simple quoting process for agents which incorporates the e2Value dwelling replacement cost estimator, and ISO loss reporting. “Frederick Mutual has transformed its Homeowner product and partnered with PL Rating, a comparative rating platform, that will allow our independent agents to have direct access to the Frederick Mutual quoting platform through the comparative rater process,” says Nancy Newmister, President & CEO of Frederick Mutual Insurance Company, “the brand-new Frederick Mutual Secure® Home policy is available to qualified homeowners in Maryland, Pennsylvania and Virginia”.
“I am very pleased with the new Frederick Mutual Secure Home Product. The coverages and features of the policy are very updated. Our clients like all of the features and extra coverages offered such as the Service Line coverage and Matching Siding and Roofing coverages." - Anne, General Insurance Group (Maryland)
“Our agency is fairly new to Frederick Mutual and the Secure Home product. We find it to be incredibly competitive in our market with additional coverage options that we previously did not have. The UW process is reasonable and the customer service, exceptional" - Jon, Tobash Insurance (Pennsylvania)
“I deal with multiple quoting platforms, and I have found that Fredrick Mutual has one of the most user-friendly systems!” - Kristin, Steve Love Insurance Agency (Virginia)
Founded on December 15, 1843, Frederick Mutual (FMIC) has continuously operated for 179
years as a mutual insurance company serving policyholders in Maryland, Pennsylvania, Virginia, Delaware, D.C., and North Carolina. FMIC works with respected local independent agents who share the company’s values.
For more information on Frederick Mutual visit www.frederickmutual.com.
Frederick Mutual launches all-new digital risk protection service for policyholders
FOR IMMEDIATE RELEASE
Frederick, MD – January 24, 2022
At a time when risk management is more important than ever, Frederick Mutual has introduced a service to protect their policyholders’ most vital interests. Business Risk Protection, a service from Epoq, Inc., is designed to help small businesses stay compliant and reduce legal liability.
“We recognize that the insurance market is changing rapidly and that our products must keep pace with policyholder expectations. Therefore, we are introducing technology-led services that are high quality, accessible and address the needs of our policyholders,” said Nancy Newmister, President and Chief Executive Officer for Frederick Mutual.
The Business Risk Protection bolt-on service protects small businesses from liability and legal threats by offering real-time drafting of smart documents, such as construction contracts, subcontractor agreements, non-disclosure agreements, formal notices, and leases. For insurers, the service helps them differentiate by providing value that goes beyond coverage. This helps them engage policyholders with high-value digital services they can benefit from immediately and throughout their policy term.
These innovative online services are powered by Epoq, a pioneer in the development of real-time, intuitive legal document drafting services. The Epoq platform uses unrivalled technology that is smart, affordable, and available 24/7. Depending on the complexity of a policyholder’s needs, it could take just twenty minutes to create a valid business agreement that is tailored to their unique circumstances.
Founder of Epoq, Grahame Cohen, says, “Legal is an important part of the life cycle of needs for every business and can be used to innovate insurance products to give an extra layer of protection to the insured and mitigate risk for the insurer.”
For more information on Business Risk Protection visit www.businessriskprotection.com.
< ENDS >
Editor’s Notes:
About Fredrick Mutual Insurance Company
Founded on December 15, 1843, Frederick Mutual (FMIC) has continuously operated for 179 years as a mutual insurance company serving policyholders, initially in Maryland; and subsequently expanding the operating territory into Pennsylvania, Virginia, Delaware, D.C., North Carolina and South Carolina. FMIC works with respected local independent agents who share the company’s values.
For more information on Frederick Mutual visit www.frederickmutual.com.
About Epoq
Formed in 1994, Epoq (www.epoqtech.com) works with insurers and financial institutions to help them innovate, differentiate, and give greater value to their customers. The company achieves this by offering pioneering digital legal and regulatory document preparation services as an enhancement to its clients' services. With offices in Massachusetts and in London, England, Epoq is respected globally and provides its unique services to over 60 major brands.
For more information on Epoq Inc. and its services visit www.epoqtech.com or connect on Twitter @epoqtech and LinkedIn @EpoqInc.
Winter Weather Tips
As winter storms and low, freezing temperatures batter our region, homeowners and businessowners should prepare themselves for these winter woes:
· Frozen pipes
· Fires
· Power outage
· Slip and falls of others’ on their premises
Frederick Mutual has created a list of tips on prevention for each hazard to help you avoid damages and costly experiences that can arise from improper preparation.
Frozen Pipes
Identifying a Problem
If a faucet is turned on, but no water flows, this can be a sign of frozen pipes!
If a faucet is off, but there exists the sound of running water, this can be a sign of a plumbing leak!
Important Tips
Residents occupying a home or employees in a business must know where the main waterline shut-off is located. Common locations include: inside a garage, basement, laundry room, utility room, or underground in a front or back yard.
Keep the phone number of a licensed plumbing contractor and your local utility company in a visible and accessible location within the home or business.
Prevention – Interior & Exterior
Run a trickle or slow drip of warm water at night from a faucet on an exterior wall.
Drain pipes in seasonal, vacant, or infrequently visited residential or commercial properties.
Close crawl space vents and place insulation over the openings.
Keep garage doors closed to maintain maximum heat (especially when a laundry or bathroom is adjacent).
Open bathroom vanity doors to allow more heat inside, if pipes run along an outside exterior wall.
Leave the heat on, even when the home or business is unoccupied. Set temperatures no lower than 60 degrees Fahrenheit on all thermostats across multiple heat zones.
Caulk gaps around doors and windows or repair weather stripping.
Check the attic, walls, electrical outlets, switch-plates and basement areas for adequate insulation.
Disconnect and store all garden hoses.
Turn off and drain external faucets and sprinkler systems. You may need to call your sprinkler company to blow out any leftover water in the underground lines.
What To Do If Pipes Freeze or Burst
If pipes are frozen, leave the faucets on and immediately call a plumber.
If pipes have burst, turn off water at main valve shut-off.
Turn off electrical appliances near any standing water.
NEVER attempt to heat a frozen pipe with an open flame of any kind!
It’s possible to warm a smaller, frozen pipe with a blow dryer by using a low, warm setting close to the faucet and very slowly working your way out to the most frozen section.
Fire Prevention
Identifying a Problem
If you smell or see smoke, this may signal the start of a fire or one igniting soon!
Important Tips
Make sure your house number or business unit is easily readable from the street for Fire & Rescue staff.
Create a fire escape plan with your family and coworkers. This drill should be practiced once a year.
Test smoke/carbon monoxide detectors once a year for battery life and proper operation.
The List of Nevers
Never leave a fire in a fireplace or in an outside fire pit unattended!
Never leave a burning candle or burner on a stove unattended!
Never smoke in bed!
Never pour water on a grease fire in the kitchen!
Never leave a space or kerosene heater on in an unoccupied home or business!
Never store flammable liquids near a heat source!
Never allow children to play with matches or lighters!
Prevention – Interior & Exterior
Put out cigarette butts completely before dumping into a trash can or flicking in a grassy area.
Do not smoke cigarettes in a home or business where an individual is using medical oxygen.
Leave at least 3-5 feet of area around a space heater away from curtains, plastics or other flammables.
Maintain & clean furnaces, fireplaces and chimneys by hiring qualified and insured contractors.
Check fireplace flue for a tight seal when closed.
Keep flammable liquids sealed and stored properly in areas like garages or storage sheds.
Fix or replace exposed electrical wiring, loose outlet plugs, or frayed extension cords.
Install dual smoke/carbon monoxide alarms on all floors of your home or business.
What To Do If Your Home or Business Has A Fire
Evacuate immediately to an area which is at least a football field length away.
Call 911!
If clothing is on fire – STOP, DROP & ROLL.
If a fire starts in a cooking pan, place a lid over the fire and turn off the burner.
Power Outages
Identifying a Problem
If you are unable to turn on the lights, your appliances have gone out, and the circuit breaker does not work to restore the power you may have a power outage.
Important Tips
Keep flashlights, radios and other necessary equipment.
Keep your phone at a high battery charge so that you are able to call emergency help.
Get a portable generator.
Unplug all appliances.
Winterize your home. Weather-stripping around doors and entryways can prevent cold weather from seeping. Insulate your pipes per the tips mentioned above. In colder areas it is recommend to add insulation to the attic and walls and to replace your front door with an energy efficient door.
How to Stay Safe During a Winter Outage
Notify your locality utility provider of the outage.
Keep yourself warm with layers of clothes. Start with thermal layers and preferably wool socks then overtop a looser knit or water repellant layer, then finally insulated pants and a jacket over top. Remember to also wear a hat, gloves, and boots as a lot of heat escapes from your extremities.
Condense your living space. Try to isolate bodies in your home to a small area, especially if that area of your home has a fireplace. The heat will be able to be retained better in a condensed space.
Cover windows and keep the blinds closed. Windows can be a huge loss of warm air so blocking heat from exiting with heavy drapes or blankets could save a lot of heat.
Keep doors to the outside closed as well as the door to your basement (if you have one) as warmer air can escape to the cool basement.
Slips and Falls
Identifying a Problem
If winter temperatures bottom out and precipitation or water is present, ice, especially black ice, is at risk of forming. Proceed with caution when walking outside and when entering homes or businesses and execute the following tips to prevent costly slips and falls from occurring.
Prevention – Interior & Exterior
Make sure your home or business has installed handrails on stairways and ramps and that they are securely fastened.
Turn off your lawn sprinkler system because if the pipes freeze and create leaks it can create icy patches.
Make sure there is adequate lighting around the premises to see walkways, parking areas, and stairways.
Inspect your gutters and downspouts to make sure they do not drain onto walkways or into parking areas where the water can freeze on the path.
Use nonslip surfaces, such as carpet, on stairs.
Have a plan for removal of snow and ice on sidewalks, stairs, and parking areas.
In entry ways quickly clean up any spills and water that may enter the premises so that visitors will not slip and fall. Post and signs that areas are slippery and are being cleaned.
What to do if someone slips at your home or business
Keep a record of the incident, including who was involved, dates, and circumstances.
If the injury is serious bring the person to the ER or to a walk-in medical clinic or call an ambulance if there is a head or neck injury.
Keep the area the slip occurred blocked off until the problem is resolved.
Frederick Mutual Joins Trusted Choice®
Maryland-based carrier is latest Big “I” consumer brand company partner.
ALEXANDRIA, Virginia, January 12, 2022 – Frederick Mutual Insurance Company is the newest member of Trusted Choice®, the Big “I" consumer branding program for independent insurance agents and brokers. Frederick Mutual, based in Maryland, joins 50 other leading companies nationwide as a Trusted Choice company partner.
“Trusted Choice is excited to welcome Frederick Mutual as a company partner," says Kevin Brandt, Trusted Choice executive director. “A stalwart of the independent agency system, Frederick Mutual is committed to offering outstanding products to agencies. We look forward to working with its team to serve the needs of Trusted Choice agents and their clients."
Founded in 1843, Frederick Mutual is the ninth oldest insurance company in the U.S., primarily serving the state of Maryland. Frederick Mutual has recently grown to offer insurance services in Pennsylvania, Virginia, Delaware, North Carolina and Washington, D.C. The company works with independent agents across the mid-Atlantic and southeast region to keep consumers' homes, businesses and communities safe.
“We look forward to deepening and growing our relationships throughout the region with our network of independent insurance agents," says Nancy Newmister, CEO of Frederick Mutual. “We value the Trusted Choice brand and are excited about the partnership. With our common goal to strengthen independent agencies as they serve as trusted advisers for insurance consumers, we are excited to grow Frederick Mutual distribution with Trusted Choice independent agents."
InVest in the Next Generation: Part III
Chris Ward, recent graduate from Virginia Tech and new employee at Frederick Mutual, reveals how he got his start in the insurance industry. Though not a member of the InVest program, Chris rounds out our discussion on engaging the next generation in pursuing rewarding careers in the insurance industry. We hope you enjoy this final segment.
Chris Ward – Frederick Mutual & InVest Interview - Transcript
Rachael: Hi my name is Rachael Newmister and I am the Director of Marketing and Sales at Frederick Mutual and we are doing a podcast today of one of our employees, Chris Ward, who is a new employee with us and he comes fresh out of college into the insurance industry. And it correlates to a program we started investing called InVest. It is a program to get young professionals in high school and college aged students interested in the insurance industry. So, Chris is going to speak to us today about how he got his start in the insurance industry and just to learn a little more about him. So, we can start from here. Hi Chris, I know you said your name already, but can you tell us who you are and a little about your role in the company?
Chris: Yeah, sure thank you, Rachael. My name is Chris Ward. I graduated from college at Virginia Tech last year in the Spring and was able to start working at Frederick Mutual in the Fall. I am currently a Commercial Lines Underwriter trainee. Now, I have a good amount of agents I have got in the past few months that has been really exciting and over the past six months I was in more of the training stages I would do a lot whether that is processing endorsements, renewals, helping with administrative work, talking to patrons on the phone on the customer service side- really whatever I can help out in the office. Now I have my agents and write new business helping them out with whatever they need.
Rachael: That’s great. How did you get your start in insurance?
Chris: So, my father and brother are both actually in the insurance industry, so I knew it was always an option or possible path for me. When I was at school I was a business major but was undecided on what exactly I wanted to do. It was actually after I interned for a big insurance company going into my senior year where I really thought about it as something I could seriously pursue, so when the opportunity came up to work at Frederick Mutual in the fall I jumped on it especially at the pandemic time when jobs weren’t fruitful as they sometimes are. That’s how I got my start here and I am very glad I chose to do that.
Rachael: Yes, a lot of people don’t know how many opportunities there are in the insurance industry to find employment and there is a lot of growth. What do you enjoy about your current role at Frederick Mutual?
Chris: A lot things I really like about the role. I think currently now like I said that I have started to get more agents and I have had them for a couple months now I think it’s really cool to build relationships and to see those relationships turn into new business. That is really rewarding. Some agents are easier than others. There’s big ones that write business regardless of who you’re working with, other agencies not as active today as they once were, it really is a fun challenge to re-engage them and spark a new interest back into Frederick Mutual they might not have anymore. And, once I can contact them I can tell them new products I can tell them about new products since they may not have heard about if they haven’t been working with us as much. Just building back those relationships that aren’t as strong as they used to be is a really cool thing that I get to do. One of the things that I really like about my position every month it starts fresh we have new business goals and objectives to make sure stay on top of it.
And if you get behind, always look forward to the future. The fact that every day is different, we always have agents calling in about different issues arising and it doesn’t get stuck in the same rut as it can.
Rachael: Yeah, that’s great you get a good mix of relational and administrative tasks. I think a lot of people don’t realize insurance is a relational job. And, like you said, building relationships with agents, having those relationships are key to business and I do agree with you that it is important. Relationships. I am an extrovert. I don’t know if you are? But it is good to be able to engage with people and do a little bit of both. But, how do you see yourself growing in the insurance industry?
Chris: Yeah, I think this is a great starting place for me. Especially for me to learn everything slowly at a good pace so I can pick a lot of different aspects that the job entails. And now that I have agents I can develop those relationships, work more with them, and be able to do more and more and write bigger policies. I think that will help me learn more about the business and from there I think there’s a bunch of
different areas I can go after that. Right now for a while I grow and see how that works and see how far I can progress here.
Rachael: Yeah. That is wonderful and we are grateful you are part of our team. What are some of the parts of this industry that inspire you or what are your favorite parts about working in the industry?
Chris: Yeah, I think the great part about working in the insurance industry is knowing that we are selling a product that our insureds actually really need. It is so much easier to get behind selling something that you know is meant for a good purpose and the sale benefits all parties involved instead of just trying to stick something on, something you are looking to sell. Just makes everything so much easier and a relief for you. And then going off that also, people always are going to need insurance. There’s never a lull for that. People are always going to need it so you will always have a product to sell to.
Rachael: Definitely, it only seems like we are going to need it more and more especially like Cyber Insurance.
Chris: Yeah, that is another thing, it is constantly evolving. Like you said the Cyber and all the cool products that we have even as we are expanding more.
Rachael: Definitely. I would be curious to see what new insurance we need as technology develops too. What is one thing you wish college aged students or young professionals knew about working in insurance?
Chris: I guess I think something I wish other people told me when I was in college or other kids is how much insurance changes every year. I think just because It’s been around for so long there's hard fast forms that everyone follows. It really change so much whether its internally for us rolling out multiple new products this year with our secure home and all the things we done things are coverages
constantly changing. Outside of us, regulation codes are being updated. Just how strict it is to follow those and be up to date on those. And also, how much things/ external forces affect it like currently building supplies are at an all time high which affects how we write policies and have to look at everything, so just how much it changes year to year and how much constant and continuing education you need.
Rachael: Yes, I definitely agree it is such a fluid industry though we have set principles and laws and foundation to our policies you know it is an adapting industry. We kind of are the first responders, we are the ones being affected by things changing in other industries. But thank you so much for answering our questions, we want to reiterate we are grateful you are a part of Frederick Mutual and you chose to get involved in the industry at a young age and we wish you the best in your career.
Chris: Yes, of course, thank you this was fun.
Rachael: Thank you, take care.
Frederick Mutual Coverage Highlight: Secure® Home Cyber Coverage
The new Frederick Mutual Secure® Home product offers comprehensive Home Cyber Protection Coverage for homeowners and renters. With the growth of home technology and personal data connected to technology systems, the need for cyber coverage to respond to home system attacks, cyber extortion, online fraud and identify theft has increased exponentially. The Home Cyber Protection Coverage offered under the Frederick Mutual Secure® Home product is more comprehensive than coverage offered by most carriers.
Here is a brief overview of the included coverages under Home Cyber Protection:
Computer Attack
Home Systems Attack
Cyber Extortion
Online Fraud
Identity Recovery
Coverage Highlights:
- $25,000/limit per year
- $500 deductible
- Data Recovery and fraud costs are included.
- Risk management tools at MyHomeWorks website and My Tech Support
- Covers cyber attacks, extortion, online fraud, and identity theft
- Click the link below for additional details regarding this new product
Home Cyber Coverage Explained
InVest in the Next Generation: Part II
Frederick Mutual continues the series on the InVest Program as we hear from insurance industry leader Diane Wagner who serves as Chief Operating Officer of First Choice Agents Alliance and board member of the InVest program . Diane reiterates how the program continues to shape the insurance industry and the importance of this program for generations to come. Listen to the second episode of the podcast below and its’ accompanying transcript!
Rachael: Hi, my name is Rachael with Frederick Mutual, and I am here with Diane Wagner from InVest. She is on the board and we will be talking a little bit more about the program today and we welcome you to our podcast and I will turn it over to Diane.
Diane: Thank you, Rachael. My name is Diane Wagner and I am the Chief Operating Officer at First Choice Agent Alliance we are an agency network. I am also on the board of InVest and am happy to be here today.
Rachael: Great, well thank you for coming today and offering up some your wisdom and answers to these questions. To start, what is your role in the InVest program as a board member?
Diane: So, I have been a recent addition to the Invest board and am actually the first agent that sat on the InVest board as InVest has normally been made up of insurance company individuals. The role of the InVest board is to guide the operating principles of the organization and assist where we can.
Rachael: Great, and what propelled you to want to get involved?
Diane: So, I had an opportunity going on 35 years ago to speak in a local school district where I grew up. The idea being to introduce insurance as a career to high schoolers. I had an opportunity to speak at a vocational high school students near my hometown. Then we talked to kids about my career at the time. I was a young underwriter working at a large insurance company and just how that experience had affected me and what a great opportunity I thought it might be for some kids who were considering their future maybe in the insurance business. So, that was kind of my first introduction to InVest and then after that I kept in touch with the organization. They are members of the Big I, a nonprofit affiliated with the BIG I and the Insurance Agents of America. So, I always had a desire to work within those programs before and had an opportunity to teach in the InVest class with another agent friend of mine in Rock Hill, South Carolina about five years ago. We actually taught the curriculum that has been created by InVest to a class about 30 high schoolers with the hope that we would be able to place some of the individuals in the local agencies in the summertime as interns. And, we just had a tremendous outpouring of response from that group of high schoolers. And our hope was either one, they would continue on in their collegiate education and consider insurance as a career; and, if they weren’t interested in college then they would consider working in agencies right out of high school. We saw the success the program had with those kids in the Rock Hill high schools.
Rachael: That is pretty amazing that the program is doing so much and has done so much. So, what does the InVest program need at this stage in its life span?
Diane: Well, you know as I said, InVest is an nonprofit affiliate with the Big I and they operate via donations. One thing my company has done has started a fundraising campaign for InVest to raise funds. Obviously, the more money they have the more opportunities they have to sow. We have a large issue with staff as many organizations do today. Getting people interested in insurance is a challenge and has always been a challenge but I think with the recent shortages of employees period it makes it even more challenging. So, I think this program is becoming more and more important as agencies struggle with the staffing crisis. There are a lot of really interesting things happening in both in the school space but also in the workplace/apprenticeship space. So, they’re running two silos in invest one in the school program but also looking to organizations to introduce insurance as a career to other folks in different careers who may want to transition their career to the insurance industry. There is a lot of interesting developments in the school level and the workplace level. There is a lot of interest in diversity and introducing insurance to a more diverse base of individuals who might not have thought of insurance as a career. So, I think it really a critical time for everyone to get involved whether it be donations to the invest organization or donations of time in the local school. I think collectively we can all solve the problem of staffing in the agencies whether it be CSRs or the producing level. So, I think there are some exciting things are coming down the pipe for both invest and the national and local regards. So, I am really excited to see some of the progress that has been made that has been made in the last couple of years.
Rachael: That is really encouraging and awesome to see who is getting involved and all the different streams that you are reaching people. So, how do you see companies or agencies like Frederick Mutual aiding the growth and success of the InVest program. Is it mainly through financial support?
Diane: It is interesting. One of the biggest opportunities for Frederick Mutual is the program I was involved with in upstate New York. It was actually started by - in conjunction with Dryden Mutual another insurance company very similar to Frederick mutual in central New York. And they have been working with the InVest program for many years. And they have developed 40-year relationship with local high school and local technical colleges, and it has become a feeder system for Dryden Mutual with the company and Dryden Mutual agents. Our hope is working with Frederick to replicate Dryden’s success in upstate New York. I think the interest is there and I think the ability is there and I think we can create something meaningful with Frederick Mutual’s help in the local Maryland school district. But even more importantly InVest has workplace development programs and apprenticeship programs in conjunction with the state and local universities and community colleges where they’re looking for employers from an agency side and a company side to place these apprenticeships. And Frederick Mutual has been a tremendous supporter in that program as well. So, I think that there is huge collaboration potential. I know Nancy Newmister the CEO if Frederick Mutual has had as much interest in InVest as I have over the years and feels strongly about coming up through the ranks. So, I think there is a tremendous opportunity for Frederick Mutual to partner with Invest and really take the apprenticeship program and the school program to another level in Maryland with its own employees and with its agency’s employees. When we think about insurance as a career its interesting when we taught the program in the rock hill schools we had 30 kids in that class and at the end of the program we had 19 students were interested in internships. And I think the need is for folks to understand the broad array of opportunities. There are so many young people who think about insurance and all they can wrap their mind around is selling insurance products to someone and that is not the case, there are so many tremendous opportunities from Drone pilots to Claims Adjusters to Actuaries to Loss control who are out of the office all day looking at properties. There are all kinds of different exciting opportunities. I think about myself starting in the insurance company when I was 18 years old and being all over of the world with my insurance company partners. So, the opportunities I have had have been so great considering where I started and I think that’s what’s important to show the next generation is how exciting of a career this can be and what a wonderful career it can be from a personal standpoint. But it is also a noble profession protecting what folks have worked their whole lives for. So, I think if we can all get involved in some way whether a financial donation to InVest or just donation of your time to support the cause or even welcome your local schools or get involved in the apprenticeship programs like Frederick Mutual has, I think there’s going to be a greater opportunity for us to continue to stay at the levels we need to continue our organization successfully.
Rachael: That is very well said. You are a great spokesman for the program, and I really appreciate your thoughts and joining me today. Do you have any additional thoughts before we sign out?
Diane: No, the only thing I would say is you are interested in additional information you can check out the invest website. www.investprogram.org. And certainly, if you have any questions, you can reach out to myself, Rachael, or Nancy at Frederick Mutual. And again, thank you for your time, Rachael, I do appreciate it.
Rachael: Wonderful. We will put that link with podcast so everyone can have access to it and thank you again, Diane.
InVest in the Next Generation: Frederick Mutual Partners with The InVest Program
"We are one of the biggest secrets in the industry and we want everyone to know about us." Deborah Pickford, in her the Executive Director, of InVest Program joins us on the first segment of this three part series about the InVest Program, a 50-year-old, national, nonprofit insurance education and workforce program that focuses on reaching high schoolers and young professionals to help teach them about the insurance industry. Please listen to the attached podcast to learn more about the program and how you can be involved!
InVest Program- Deborah Pickford + Rachael Newmister - Episode 1
Deborah Pickford, Executive Director of the InVest Program