The Agent’s Advocate | March 2025
Last Chance to Take the Third Agent/Broker Quiz
You have just three months left to become eligible for the 2024–2025 Agent/Broker Travel Incentive grand prize trip to the Beau-Rivage Palace Hotel, in Lausanne, Switzerland.
You can boost your odds of qualifying for the trip by taking the four online agent/broker quizzes. One quiz is released each quarter, and you only need to answer three questions per quiz. Results of the contest are often close, so taking each quiz can make the difference.
The third quiz is still live. Be sure to take it by the deadline: March 31, 2025.
Eligibility Requirements for the 2024–2025 Agent/Broker Travel Incentive
There are 10 spots guaranteed for agents and brokers. Any agency/brokerage* that writes $1,000,000 in new business from July 1, 2024, through June 30, 2025, will qualify for a spot for the grand prize vacation to the Beau-Rivage Palace in Lausanne, Switzerland. If 20 agents/brokers write $1,000,000 in new business, they will all attend. As of December 31, 2024, 16 agents/brokers have already qualified for the Switzerland trip.
New Business Guidelines
- The calculation of the $1,000,000 will only include new business that is submitted and written with an effective date, on or before June 30, 2025, and, for the purposes of clarity, new business submitted and written after June 30, 2025, shall not be counted toward the $1,000,000 even if such new business is back dated with an effective date on or before June 30, 2025. In such an instance, the new business will be credited toward any incentive program for the following year subject to the terms and conditions of any such incentive program(s).
- New business includes add-ons but excludes broker of records (BORs), tail premium, fronting, nonstandard physicians (formerly PULIC program), and TDC Specialty Underwriters.
- New business premium for mid-term add-ons endorsed onto an existing policy is calculated on a prorated basis (the premium will not be annualized).
- New business policies and premium issued on a short-term basis will not be annualized.
- Auditable new business policies can affect new business premium calculation +/- and can carryover from the prior program year.
- New business premium from the Hospitals Insurance Company (HIC) physician program will be credited toward earning the new business requirement. New business and premium retention written through The Doctors Company will continue to qualify.
Advanced Practice Clinician Business Now Credited
New business for the advanced practice clinician (APC) program with policy effective dates of July 1, 2024, through June 30, 2025, is credited toward earning the travel incentive. Here’s how it works:
Multiplier Calculation
For new APC business, premiums between $50,000 and $250,000 will be multiplied by two times (x2) their value. For the purpose of calculating progress toward the new business goal of $1,000,000, which earns a guaranteed spot for the grand prize vacation, the amount of the premiums earned will be doubled. However, agents/brokers must generate at least $50,000 in new APC business for the multiplier to apply.
| APC NB Premium | Credit Applied | Total Applied Towards Incentive |
|---|---|---|
| $50,000 | x2 | $100,000 |
| $250,000 | x2 | $500,000 |
| $350,000 | x2 (first &250k) | $600,000 |
Above Threshold Calculation
Any new APC premiums generated above the first $250,000 will be included in the calculation, but without the multiplier.
Incentive Related to Certain New Business Hospital Professional Liability Premium
New business hospital professional liability (HPL) premium written on the paper of Hospitals Insurance Company, Inc., (HIC) or written through TDC Specialty Underwriters, Inc., (TDCSU) on the paper of TDC Specialty Insurance Company (TDCSI) or TDC National Insurance Company (TDCNA) may be included for the purposes of determining eligibility for Chairman’s Circle or Key Agent status as well as for the purpose of determining the eligibility for the Agent/Broker Travel Incentive, provided that the agent or broker has at least one million dollars ($1,000,000) of inforce medical professional liability (MPL) insurance premium (i.e., physician and advanced practice clinicians) on the paper of The Doctors Company and/or The Doctors Company Risk Retention Group (RRG) on the effective date that any HPL business is written.
Neither wholesalers nor agents/brokers and/or agencies/brokerages not appointed by The Doctors Company to solicit business in the admitted market on behalf of The Doctors Company [via an Agency Agreement with The Doctors Company Insurance Services (TDCIS)] will be eligible to add any HPL business for the purposes of determining eligibility for Chairman’s Circle or Key Agent status or to determine eligibility for the Agent/Broker Travel Incentive. In addition, no HPL premium shall count toward any minimum premium required by The Doctors Company pursuant to any incentive program that measures MPL premium.
Qualify for a Second Spot: Agents/brokers can qualify to invite a second producer from their agency/brokerage and a guest to accompany them on the trip. To qualify for the second spot, agents/brokers must write $3 million in new business ($1 million for the first spot and $3 million total inforce new business for the second spot). If a single large account is written, the revenue for that account must be $5 million or greater (due to the increased risk of cancellation and possible acquisition or midyear migration to a self-insured program). These second spots are in addition to the 10 guaranteed spots.
Qualify for a Third Spot: Agents/brokers can now qualify for a third spot on next year’s trip to Lausanne, Switzerland. Those who qualify will be able to invite an additional (third) producer from their agency/brokerage and a guest to accompany them on the trip.
Our qualifying criteria has been amended to add this third spot by writing $5 million in new business ($1 million for the first spot, $3 million total inforce new business for the second spot, and $5 million total inforce new business for the third spot). If a single large account is written, the revenue for that account must be $10 million or greater (due to increased risk of cancellation and possible acquisition or midyear migration to a self-insured program). The third spots are in addition to the 10 spots already available as well as any second spots an agent or broker has qualified for between July 1, 2024, and June 30, 2025.
| Slots | New Business | Qualifying New Business |
|---|---|---|
| 1 | $1M | Multiple new business policies or one large |
| 2 | $3M | Multiple new business policies totaling $3M |
| 2 | $5M | One large policy totaling $5M |
| 3 | $5M | Multiple new business policies totaling $5M |
| 3 | $10M | One large policy totaling $10M |
The following combined scores will determine the qualifiers of any remaining grand prize spots:
44 percent—New business production for the agency* from July 1, 2024, through June 30, 2025.
44 percent—Member retention ratio for the agency’s* inforce business with The Doctors Company as of the end of each quarter.
12 percent—Correct responses to four online agent quizzes† in future issues of The Agent’s Advocate newsletter.
*Based on individual agency location production/retention, as opposed to agency group production/retention.
†Only the first completed quiz per agent will be counted; however, there is no limit to the number of agents who can take the quiz. The quiz score that is recorded is the quiz with the highest number of correct answers per agency location.
Legal Notice: In the event any dispute should arise concerning any aspect of the 2024–2025 Agent/Broker Travel Incentive, such dispute shall be resolved by The Doctors Company. The decision as to any dispute concerning the Agent/Broker Travel Incentive shall rest in the sole discretion of The Doctors Company, and such decision shall be full, final, and not subject to any further review. Wholesale brokers of The Doctors Company and TDC Specialty Underwriters are not eligible to participate in the Agent/Broker Travel Incentive.
