A few weeks ago, I was reading a LinkedIn post about young people and the insurance industry and it reminded me of a guest blog post from Brandie Hinen. Then, at about the same time, I got an email from David Thompson at the Florida Association of Insurance Agents bragging about a Florida State risk management program student who was interning with the association. Over the next couple of weeks, he sent me several emails about the work being done by this young lady, Danielle Cook.
FAIA receives thousands of coverage questions from member agencies each year. Part of Danielle’s intern job is to research coverage questions. The first one that was brought to my attention was whether the ISO Business Auto Policy had an aggregate limit like the ISO CGL policy. The question was submitted by an experienced agent that presumably did not know and had not taken the time to find out. Danielle correctly answered it and several other questions during a two-hour research period.
The next coverage question I was made aware of was from an insurer underwriter and involved the death of a homeowners insured (damage from bodily fluids when the corpse was not found for some time) and his next of kin who traveled from out of state felt they should be entitled to Additional Living Expense coverage. Danielle simply read the policy, did a little research. and came up with the correct opinion about coverages.
The next question came from a CPCU with 30 years of experience who believed that business property in an undeclared metal shed was covered by an ISO CP 00 10 form. She was incorrect. Danielle’s analysis of the form language was thorough, complete, and 100% accurate.
Another question involved whether a homeowner who paid six healthcare and home service individuals to do work at her house was required to provide workers compensation insurance. The agency owner with over 30 years in the business did not know. Danielle researched workers compensation law and her analysis again was 100% correct.
Just yesterday, I learned of another question. A Florida couple has a 23-year-old son who is playing minor league baseball in Alabama. He drives a car owned by his father and registered in Florida but garaged at the son’s apartment in Alabama. Aside from the auto coverage issue, the agency CSR submitting the question wanted to know if his parents’ HO policy covered him for liability claims. Researching all of the issues, Danielle nailed every one of them with the correct coverage recommendations.
The first point of this blog post is that, if a 21-year-old youngster with zero industry experience can answer difficult coverage questions by actually reading the policy and doing a little research, industry veterans should be able to do the same IF they’re willing to invest the time and effort. For more information about hiring ‘inexperienced’ personnel, check out this IRMI article published today.
The second point of this blog post is that, if Danielle is indicative of the kinds of students being turned out by university insurance and risk management programs, then the industry is in good hands. Don’t buy into millennial myths or other preconceived stereotypical notions about young people. Each person deserves the right to be judged on his or her own merits.
Photo by kevin dooley