Fellow Agents,
I wanted to provide you with a few updates on a few items important to you and your Association. First, I have personally attended more than 15 meetings this year either as your representative on the Kentucky Farm Bureau Federation Board or as an invited guest of the Kentucky Farm Bureau Insurance Board of directors meeting. Having a voice around and near those who shape our company policy is very important to all agents across our state. As a result this year we have been able to open up clear dialogue between our Company and Association leaders. In March, our Association Board of Directors met for more than two hours with Federation President Mark Haney, CEO John Sparrow. During this meeting we hit on many topics important to you including rates, the auto program and Earthquake. It was a very open and frank discussion. I am very pleased to announce that another such meeting is being planned in September during our agents association meeting.
As previously mentioned by the company, there is a new Earthquake program coming within weeks. The company will be releasing more details as plans are finalized but the I am optimistic that the new program will be more member and agent friendly. I am also told the rates will be more competitive than our current KFB endorsed rates in general. Rates have not been released because our reinsurer is now in the processing of filing them with the DOI.
The company continues to struggle with Auto and property profitability but continues to add to surplus thanks to a strong investment portfolio.
I also want to mention that longtime member and supporter, District President Mike Crane has announced his retirement from our board of directors effective at the end of his term in December. Please join me in saluting Mike for his support and wisdom that he has given our association for the past 40 years. Mike has assured me he will remain a strong advocate for the agents association and will always be there to offer his advice.
I want to encourage you to make plans to join us in September during the KFBIAA annual convention. We are returning to Belteria Casino and Resort just across the river near Northern Kentucky.
Your executive team consisting of James Runion, Pat Hargadon, John Beavin, Greg Shouse and myself as well as your district Presidents appreciate the trust and confidence you have placed with us and will continue to work to represent you.
Roger Fannin
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