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| January 2025 | |||||||||||||||||||||||||||
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From the Desk of the President & CEO
It wasn’t the start of the year anyone was expecting. Richmond, VA, faced a catastrophic water outage that left many without water for several days. For those who didn’t lose water, a boil advisory was issued for Richmond and surrounding counties. This event had the potential to cause mass panic and unrest, but from our perspective, that was not the case. Richmond and Virginia came together with a sense of compassion. Across the city, neighbors helped neighbors, and businesses extended their support as well. It was an extremely unfortunate event, and we extend our heartfelt sympathy to those who were affected. Inspired by the example set by the Richmond community, IIAV looks forward to a year of compassion, and we hope you will too.
IIAV Member Resources
IA Magazine
In the highly competitive and evolving insurance landscape, independent agency owners face a unique set of challenges and myriad capital needs to sustain their growth. As we head into 2025, there is a greater sense of urgency for agencies to invest in technology and talent and make strategic mergers & acquisitions.  The most important element in IIAV's governmental affairs program is the Association's grassroots program. IIAV communicates regularly with its members to inform them of legislative and regulatory issues. Members act when necessary and make sure that government officials hear from the people who count the most agents from their districts. IIAV believes that agents are their own best advocates and devotes considerable resources to keep them up to date through the IIAV monthly newsletter and IIAV Legislative Bulletin.
IIAV and IIABA form an effective legislative team that is considered one of the most effective anywhere not just for the insurance industry. The 2025 Legislative session has begun! We want to keep you informed on the issues we are tracking!
State & National News
IA Magazine
InsurPac, the Big “I" political action committee (PAC), raised $1,291,724 during the 2024 calendar year. A total of 3,227 donors invested an average of $400 per person. Last year, 412 “major donors" gave $1,000 or more, 88 of whom stepped up with investments of more than $2,500 and 36 invested the maximum amount of $5,000. 
Food For Thought
ACORD maintains a complete library of industry-specific forms and has typically charged agents, brokers and carriers an annual End User License (EUL) fee for the use of its forms, and licensing renewal has been required each year. However, thanks to a Big “I" benefit, members with annual property & casualty gross revenue of less than $50 million receive a complimentary license to use vendor-supplied ACORD Forms.
IA Magazine
The start of the new year is a time of reflection and motivation, making it the ideal season for agents to check in with clients. Homeowners may be planning a big move in 2025 or finally starting that renovation they talked about all last year. Whatever your clients' plans, 2025 is set to be a year of significant change with shifting markets and evolving weather patterns—making it more important than ever to ensure your clients are adequately protected.
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