1. Who is VFSC?
2. Congratulations New ACSR Designees!
3. Virginia Commercial Auto Forms Deregulation
4. IIAV Will Come to You!
5. Just Some Thoughts...

Agencies:

Associates:

The legislature is over and I’m trying to get reacclimated to the office and what’s going on.  We conducted our first legislative update class at the VCU Risc Conference and included a couple of videos you’ll truly love…or….   The class – “It’s just politics – 2018” will provide 2 hours of CE in ethics and is scheduled throughout the state and by webinar.  Go to www.iiav.com and look for the education calendar. 

Internal Revenue Bulletin 2018-10 was released on March 5, 2018 indicating changes to the 2018 Health Savings Account “HSA” family maximum contribution limit. The family maximum contribution limit is being adjusted downward to $6,850, from the previously announced limit of $6,900 for 2018. The maximum contribution limit for employee-only coverage did not change, and continues to be $3,450 for 2018. The catch-up contribution limit for people age 55 and older remains $1,000 for 2018 as well.

Monty Dise, President
Asset Protection Group, Inc.
mdise@apgroupinc.com
804-423-7700

How to Think About Documenting Text Messages for E&O Protection

You know as well as I that the adoption of text messaging as a communication channel is not going to slow down and certainly is not going away.

RICHMOND – The State Corporation Commission’s (SCC) Bureau of Insurance encourages Virginians in search of lost or misplaced life insurance policies to use the free Life Insurance Policy Locator offered by the National Association of Insurance Commissioners (NAIC). “Hundreds of Virginians have already recovered millions of dollars entitled to them by using this service,” said Virginia Insurance Commissioner Scott A. White. “It utilizes NAIC technology to enable consumers to secure money that was promised to them through insurance contracts.”

Q: With all of the talk about gun violence, do I have the right as an employer to prohibit anyone from bringing a firearm on our property?

The Insurance Institute for Business & Home Safety (IBHS) today released the new edition of its preeminent report on the residential building code systems in 18 hurricane-prone states. The 2018 edition of Rating the States follows a disastrous year of storms in 2017, and is well timed to inform discussion and action to improve building strength as communities repair or replace homes damaged by hurricanes last year.

Virginia Financial Services Corporation (VFSC) was formed in 1969 as a for-profit subsidiary of Independent Insurance Agents of Virginia (IIAV). However, VFSC has come a long way since then with the ever-changing marketplace of insurance. Its mission is to serve the members of IIAV through the development, implementation and marketing of products and services that benefit its member agents. Although owned by IIAV, VFSC is governed by a Board of Directors.

The Annual Meeting for IIAV has been designated June 27 at  1:00 pm during the regularly scheduled IIAV Board of Directors meeting.  During this meeting the slate of officers and directors for the FY 2018/19 year will be voted upon.  All members are invited to attend the Annual Meeting but we ask that you RSVP to Bob Bradshaw – IIAV President & CEO and Secretary for the Corporation at Rbradshaw@iiav.com.   The Convention itself will honor and recognize the current chairman – Doug Megill and welcome our incoming chairman – Hunter Odom.    At this point, there are no anticipated Bylaw amendments proposed for the association.

We encourage you to attend the convention and join the celebration.

So...how many times over the last decade have your carriers complained that Virginia has its own “standard” commercial auto forms, does not follow the ISO program nor does it allow them to file proprietary forms? And…how many carriers, as required by Virginia state insurance statutes, sent you a copy of Administrative Order No. 12048?

It is with tremendous sadness that we report the passing of a long-time and loyal member of the IIAV family. William Henry Ball, Jr. passed away peacefully on March 14. Mr. Ball, known affectionally by most as “Willie,” was the owner of Ball-Martin Insurance Agency. He handed down his agency to his son, Wilford H. “Bill” Ball, III who served as IIAV Chair among many other IIAV roles. Bill and Jeri Ball have recently retired and left the agency to their children Jason and Kimberly.

Mr. Ball was from Cumberland, VA and grew up in Norfolk, VA.. Proudly serving in World War II, Mr. Ball was a tailgunner on a B-29.

Those of us who knew Mr. Ball recall his quiet disposition and affable smile. We share many wonderful memories of “Willie” and grieve along with his loving family during this time. Mr. Ball was 95.

Boone, NC - In February, Jackson Sumner & Associates (JSA) hires Trish Oxford, digital strategist and an insurance outsider, as their new Director of Marketing to drive strategy, analysis and growth of the JSA brand throughout the southeast. Oxford comes to JSA with a range of experience, including Reynolda House Museum of American Art, Cisco Systems and Yahoo! Inc.

Have you registered for the 2018 IIAV Annual Conference & Expo yet?!

IIAV would like to congratulate the following on the completion of their ACSR designation:

Calonda Gregory
Shannon Grogg
Joie Newman
Dustin Powell
Edith Coleman
Savannah Hardison
Brittni Hassell
Tabatha Morris

In-house education classes available for 2018. To make continuing education easier for you and your busy  team, IIAV will bring our classes right to your office!  Not only is this convenient, but the experience is more personal and tends to be a lot of fun.  (Our instructors love this type of class for that very reason!) 

Call Rebecca Arnold today to schedule one class or more that fits your office schedule. We can bring almost any class to you; with the exception of a few webinars, the vast majority of our course offerings are available in-house.

And, because we want this to benefit as much of your team as possible, we offer discounts that increase with the size of the group!

For specific courses available and pricing, please contact Rebecca Arnold at rarnold@iiav.com or
(804) 747-9300. We look forward to visiting your office and helping your team learn and grow professionally!

Are you ready for your new hire?
Affordable New Hire Training – available anytime from anywhere!

As you know, the Virginia Bureau of Insurance (VBOI), an arm of the Virginia State Corporation Commission (SCC), has broad powers with respect to Virginia insurance agents or those purporting to be agents. Included in those powers is the statutory authority, without notice, to visit your agencies, review client and accounting files, demand to review any other agency documentation and interview agency principals and employees.