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ethICstrAInIngAVAIlABleAtIIAWVAnnuAlConVentIonthreehourseminarsatisFiesWestVirginiacerequirementAgenCyperpetuAtIonAhottopICAtIIAWVAnnuAlConVentIonaldiamondtoleadclosingsessionAgentstryingtosatisfythecontinuingeducationrequirementcallingforthreehoursoftraininginethicscanndjustexactlywhattheyneedatthisyearx19sIIAWVAnnualConventionatGladeSpringsonSundayOctober72012.x1cEthicsandBusinessIsThisanOxymoronx1disacourseisdesignedtosatisfyWestVirginiax19smandateforEthicsContinuingEducation.LeadbyStuartPowellMACPCUCICCLUChFCx1cEthicsandBusinessIsThisanOxymoronx1disafast-pacedandoftenhumoroussessiondesignedtohelpagentsconsidertheethicalimplicationsofourprofessions.WhatdoesitmeantoactethicallyWhatarethedifferentlevelsofethicalbehaviorlegalpersonalprofessionalThiscourseincludesareviewofthebasicelementsofethicalbehaviorcodesofethicsforinsuranceprofessionalsaswellasagentsx19ethicaldutiestocustomersvs.companies.Powellwillalsoexaminereal-lifesituationsthatagentscanndthemselvesinandleadattendeesthroughandexplorationofthevariousoptionsthatagentscantakeinvarioussituations.StuartPowellhasheldanagentx19slicenseandbeenpersonallyinvolvedintheinsurancebusinessformorethanthreedecades.HejoinedthestaffofIIANCasDirectorofEducationin1995andassumedthesupervisionofIIANCx19sinsuranceoperationsin2004.HecurrentlymanagesthedesignatedinsuranceagencyfortheStateofNorthCarolinaplacingallcoverageswhichtheStatedoesnotselfinsureisadministratoroftheIIANCErrorsandOmissionsInsuranceprogramofagentsandmanagestheinsurancebenetsoperationsformembersoftheAssociation.PriortojoiningtheIIANCstaffStuartwastheownerofThePowellAgencyInc.ofReidsvilleNCafamilyagencywhoserootscanbetracedbacktothe1890x19s.x1cEthicsandBusinessIsThisanOxymoronx1dwillbeofferedbeginningat100pmonSundayOctober72012asapartofthe112thIIAWVAnnualConvention.TheconventionwillbeheldattheResortatGladeSpringsinDanielsWestVirginia.FormoreinformationonandtoregisterfortheIIAWVAnnualConventionvisittheIIAWVwebsiteatwww.iiawv.orgorcalltheIIAWVofx13ceat800-274-4298.AlDiamondPresidentandfounderofAgencyConsultingGroupInc.inCherryHillNewJerseywillleadanationallyacclaimedsessiononx1cAgencySuccessionandPerpetuationx1dPlanningatthe2012IIAWVAnnualConvention.Thethree-hourseminarwillrunonTuesdaymorningOctober92012attheResortatGladeSpringsinDanielsWestVirginia.ThepaceofagencymergersandacquisitionsinWestVirginiaisquickeningwithevenlargeoldnameagenciesbeingpurchasedbygroupsfromwithinandoutsidethestate.AstheWestVirginiaagencyforceagesandcarriersdemandevenmoregrowthperpetuationandsuccessionissuesareintheforefrontofagencyownerconcerns.x1cAgencySuccessionandPerpetuationx1disintendedtohelpagentsandagenciesavoidthepitfallsofplanningforthoseoutcomes.Thisfast-pacedsessionispackedwithvaluableinformationandguidanceforagentswhoaretryingtogureoutafutureforthemselvesandtheiragencies.Diamondwillcoverthecriticaldifferencesbetweensuccessionandperpetuation.Participantswilldiscusshowmuchanagencyisworthandhowthevariouswaysthatvalueiscalculated.Thereismoretoitthatjustmultiplesofonerevenuesourceoranother.Timewillbespentonthemanydifferentmethodsusedtoperpetuateanagencywhetheritbethroughfamilymembersstaffmembersanewhires.contingencybuy-sellagreementsortheoutrightsaleoftheagency.Ifyoux19rebuyingagenciesthesessiontakesadetailedlookatvariousmethodsforpurchasingbusinessesincludingtraditionalpurchasemethodscashacorporatepurchaseandnon-traditionaltransactionmethods.Diamonddiscusseswhetherornotitx19salwaysagoodideatoretaintheagencyownerfollowingapurchase.Participantswillalsocometounderstandhowtoforminternalagencysuccessionplanswiththeirnextgenerationsiftheyhavetheminplacehowtorecruittheirsuccessorshowtomeldagenciestogetherforeventualsuccessionwithoutlosingcontrolandhowtoestablishtheiragenciesformaximumvalueinasale.Thediscussiononsuccessioncoversidentifyingsuccessorswhendoyounotifythemoftheroletheywillplayandhowdoyoupreparethemtotakeover.AlDiamondhasbeendeeplyinvolvedinallfacetsofpage4APublicationofIndependentInsuranceAgentsofWVcontinuedonpage6