Category: Press / News

Benefit Advisors Network Admits Tooher-Ferraris Insurance Group as Newest Member

Posted on by Benefit Advisors Network

WILTON, CT and CLEVELAND, OH (7/X/24) – Wilton, Connecticut-based Tooher-Ferraris Insurance Group is the newest member of the Benefit Advisors Network (BAN), an international network of progressive and visionary employee benefit brokers and consulting firms from across the United States and Canada.

“In order to gain membership into BAN, Tooher-Ferraris Insurance Group had to successfully pass a stringent screening process,” says Perry Braun, President & CEO of the Benefit Advisors Network. “When determining whether to admit an organization into BAN, we closely examine ethics in business, knowledge of the industry, as well as commitment to providing high quality service – and Tooher-Ferraris met our standards in all of these areas.”

Family owned and operated since 1932, the Tooher-Ferraris team, comprised of of 37 career insurance professionals, is licensed in 38 states and prides itself on designing insurance and risk management programs to meet the unique needs of every individual, family, and business it insures. The firm is predominately a Property & Casualty agency, having recently opened the Group Benefits division in 2020.

“Access to resources needed to compete are critical to our customers growth objectives so that we can continue to offer relevant value-added services,” says Eric Ferraris, CIC, CRM, CLTC, Principal at Tooher-Ferraris Insurance Group. “In the ever-changing landscape of the market, and solutions around compliance, human capital management and insurance, we are thrilled to be a part of the Benefit Advisors Network.”

“We saw BAN as a competitive advantage to continue to develop our team, connect with industry thought leaders, and provide unique solutions to our customers,” continues Ferraris.

The collaboration and sharing of intellectual knowledge between fellow members is unlike any other organization in our industry, regardless of size. Unlike many other industry organizations, BAN members collaborate on business rather than compete, therefore it limits membership by market or geographic area.  BAN is more interested in being the best than being the largest.  That unique structure and philosophy allow members to share and support one another with best practices, strategies and expertise because they are unencumbered by concern with the presence of competitors.

BAN firms are able to offer their clients the kind of resources normally found only in a major national firm.  But, rather than answering to corporate headquarters or shareholder interests, BAN members answer to their clients, delivering the care and consideration of an interested local partner that understands what local employers want and need.

About Benefit Advisors Network
Founded in 2002, BAN is an exclusive, premier, international network of independent, employee benefit brokerage and consulting companies. BAN delivers industry leading tools, technology, and expertise to member firms so that they can deliver optimum results to their employee benefit customers. BAN intentionally limits membership because of the highly collaborative interactions. For more information, visit:  www.benefitadvisorsnetwork.com or follow them on LinkedIn.

 

Benefit Advisors Network Selects Kentucky-Based Higgins Insurance as Newest Member

Posted on by Benefit Advisors Network

FOR IMMEDIATE RELEASE
Contact: Jessica Tiller
jtiller@pughandtillerpr.com or 443-621-7690

 

Welcome Higgins InsuranceCleveland, OH and Hopkinsville, KY (4-X-24) – Benefit Advisors Network (BAN), an international network of progressive and visionary employee benefit brokers and consulting firms from across the United States and Canada, is pleased to announce that Kentucky-based Higgins Insurance has been accepted for membership into the organization.

While primarily serving the Nashville, Tennessee and western Kentucky markets, the independently owned firm also serves clients throughout the United States, as well as internationally. Founded in 1897, Higgins Insurance works with businesses in a wide variety of industries, from agribusiness and manufacturing to financial institution and property management organizations.

“We’re thrilled to be selected as a BAN member. We want to deliver the very best to our clients, and we believe the tools within BAN will help us deliver high quality, valuable services,” says Mack Major, Vice President, Benefits at Higgins Insurance.

As with other members within BAN, Higgins Insurance looks forward to the collaborative atmosphere and unique ideas that the firms routinely bring to the table. Continues Major, “We were influenced by BAN’s extensive resources and collaborative partners that are willing to share expertise, which is instrumental in our future growth.”

“We are proud to welcome Mack and his team into BAN,” says Perry Braun, President & CEO of the Benefit Advisors Network. “Higgins Insurance prides themselves on being strategic and innovative problem-solvers, partnering with clients to develop appropriate, affordable, and flexible solutions for their employee benefit programs – this is exactly the type of member that makes BAN the organization it is today.”

BAN intentionally limits membership to the “best of the best” in their respective markets. The organizational philosophy of collaboration while providing world-class resources, such as preferred pricing arrangements and direct access to underwriters, has helped its members continue to grow.

About Higgins Insurance
The Higgins Insurance Agency was founded in 1897 and offers a wide range of insurance products including personal, commercial, agribusiness, employee benefits and more. For more information visit, www.higginsinsurance.com or follow them on LinkedIn.

About Benefit Advisors Network

Founded in 2002, BAN is an exclusive, premier, international network of independent, employee benefit brokerage and consulting companies. BAN delivers industry leading tools, technology, and expertise to member firms so that they can deliver optimum results to their employee benefit customers. BAN intentionally limits membership because of the highly collaborative interactions. For more information, visit: www.benefitadvisorsnetwork.com or follow them on LinkedIn.

PTO Exchange Podcast with Bobbi Kloss

Posted on by Bobbi Kloss, BAN Director of Human Capital Management

David Sherman, Director of Partnerships at PTO Exchange, and Bobbi Kloss recently connected to discuss what it means to be a member of Benefit Advisors Network (BAN) and the process of becoming a partner of BAN.

PTO Exchange pioneers innovative solutions for employees’ financial wellness. In an era of financial challenges, their platform allows employees to convert unused PTO into personalized benefits, addressing their unique financial needs and priorities. Discover how PTO Exchange can revolutionize your benefits strategy and foster a positive workplace culture at https://lnkd.in/gPjUUKa7.

View the podcast at https://lnkd.in/gV_nDCXP

 

 

Despite Greater Mental Health Needs, Frontline Workers Less Likely to Seek Help

Posted on by Benefit Advisors Network

Published by WorldatWork on February 15, 2024.

Written by Tom Starner with input from BAN’s Bobbi Kloss

View the original post

With demanding roles tied to a higher degree of stress, frontline workers are less aware of employer mental well-being benefits, more likely to say they do not have a problem and — even when acknowledging a problem — are less likely to reach out for help than their non-frontline colleagues, according to a new study. 

meQuilibrium’s (meQ) study of 1,183 U.S.-based workers found that when compared to their non-frontline counterparts, rates of anxiety and depression among the latter are 33% and 61% higher, respectively, and when facing high stress, frontline workers also are 30% less likely to seek out professional assistance. 

“Frontline workers regularly interact with frustrated customers, work irregular shifts, lack paid time off and have minimal autonomy over duties assigned by managers,” said Brad Smith, Ph.D., chief science officer at meQ. In turn, that can contribute to higher rates of burnout, anxiety, depression and secondary traumatic stress, compared to their corporate colleagues. 

“Unfortunately, frontline workers are often unaware of their well-being options and their irregular hours can impede appointment scheduling, resulting in a gap between their needs and use of relevant benefits,” Smith said.  

Reasons for Not Seeking Help

Bobbi Kloss, vice president, human capital management services at Benefit Advisors Network, said there are historical reasons for frontline workers’ reluctance to seek help. 

“Consistently throughout generations, frontline workers bear the burdens and the weight of not only their own personal struggles, but those of the company itself,” she said.  

For example, when sales slump and revenue drops, cost containment becomes a priority. As management looks at previously set goals and metrics, frontline employees often are the first to be affected by these negative business results, Kloss said. 

Absenteeism may be frowned upon, Kloss said, and employees may fear reprisal for taking paid-time off when times are tough and companies’ margins are tight.   

“Workers can’t afford to rock the boat and risk losing their job, which is a main reason why they are less likely to reach out for professional assistance,” she said. 

meQ’s study also found frontline workers avoid missing work to care for themselves or family members.  

“Paid time off (PTO) is a scarce resource,” Smith said, “and some frontline employees are reluctant to use it for anything other than vacation.” This reluctance to use PTO to seek help, he said, can be exacerbated by adversarial labor/management relations and a distrust of management-provided benefits.  

On top of those reasons, Smith said, this employee population is hard to reach due to their “frontline-ness.  

“Most are not at a desk all day and may not be included in the normal corporate messaging loop,” he said. 

Create Better Communication Channels

Smith offered a few ways employers can better communicate mental well-being benefits for frontline workers:

  • Choose the right channels for communication at work, such as home mailers, table tents and breakroom posters. To be more effective, couple these messages with testimonials or word-of-mouth endorsements from frontline wellness champions.
  • Tailor messaging appropriately to the frontline population, focusing on common triggers like sleep, financial stress and safety.
  • Use relatable imagery of other frontline workers in creative materials.

Managers should also recognize that while employee assistance programs (EAPs) are designed to address individual, team and organizational problems, they are largely unknown to frontline workers.  

“By providing and educating employees about holistic benefits, including mental health, employers can help reduce employee stress while demonstrating that they value their skills and care about them as people,” Kloss said. “In addition, it creates a culture of caring that can attract and retain talent.” 

The rewards for bridging the gap are rich, meQ’s Smith added. 

“Employers who rely on these essential employees have a vested interest in closing this gap through proactive outreach and education to improve benefit awareness and utilization around mental well-being,” he said. “Closing this knowledge gap can lead to a healthier, more productive workforce.” 

Editor’s Note: Additional Content
For more information and resources related to this article see the pages below, which offer quick access to all WorldatWork content on these topics:

Meet the Board: Mike Morey

Posted on by Caroline Williams
Mike Morey

Mike grew up in Texas and graduated from the University of Texas in 1986 with a major in Economics and a minor in Accounting. While at Texas, Mike served in multiple positions in the Alpha Nu chapter of Sigma Chi. With over 25 years of experience in the insurance industry, Mike has had management responsibilities in underwriting, marketing, and sales with both carriers and agencies. He joined Bolton & Company in 2001 where his focus is on the growth of the firm’s recognition as one of the leading privately held insurance brokerages in Southern California, as well as overseeing the day to day operations. Mike’s involvement extends beyond his own firm where he sits on the Advisory Board for multiple National Property Casualty and Health Insurance Carriers. On the personal side, Mike lives in Spicewood, Texas with his wife, Sharon and has three children and two grandchildren.  

What is your background, and how did you get in the EB business?
I was the COO for Bolton & Co in LA for over 20 years. Our firm was 85% P&C with just over $2 million in Benefits revenue. During my time as the COO, we grew our Benefits revenue to north of $35 million and 40% of our firm’s revenue with a focus on hiring and developing producers along with several acquisitions.

What are your leadership principles?
Transparency with the team. We also spend a lot of time developing communication and problem-solving skills. Before someone can supervise others, it is an expectation that they will have gone through a portion of our education. I also always start with answering a question with yes and then talk through what yes looks like.

What are you looking forward to achieving with your involvement with BAN?
We are all always learning and my past experiences with BAN and its members has made a contributed to my own success as well as our firm.

How are you advising your clients regarding ongoing inflation, higher interest rates and a shaky economy? Are you concerned about a recession?
Margins are tight for many employers and their most valuable asset and cost are their employees. What tools do they need and can we assist in their strategy to increase productivity within their workforce.

What is your outlook for your agency in 2024?
With new business, exposure and rate, we are targeting 15% growth in Benefits.

What is this industry’s largest challenge?
Talent. We as an industry continue to undersell the opportunity within the brokerage community.

What are two lessons that you learned during your career that you can pass along to future leaders in the insurance industry?
When your employees go home at night, you and the brokerage are a topic at the dinner table. What are they saying about you? Never burn a bridge. As large as this industry is, it’s a small community.

Connect with Mike on LinkedIn | Download vCard | Board of Advisors

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