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| May 2020 | ||||||||||||||||
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Top 3 Articles
Welcome
From the Desk of the President & CEO
We’ve all seen the “stages of grief” and I guess we’re now seeing the stages of a pandemic crisis.
In March, the initial calls were in regard to essential and non-essential businesses. And, how do we work remotely from our homes? Then it was all the calls about coverages — especially business interruption. Then it was how to work in this new business and industry dynamic. And recently, we’re getting calls asking how do we re-open our offices safely, and how do we respond when our clients are asking about re-opening their office/business?
IIAV Member Resources
.jpg) Thinking like a potential buyer will nearly always require focusing on the basics of cash flow and risk. But with success and value affected by the global COVID-19 pandemic, your agency’s story may need more than those basics. Years from now, your financials will reflect the results of the pandemic on your agency, but to communicate your story, you will need some level of quantitative detail. A lesson from past downturns is to keep a detailed journal of the impacts that these economic challenges have on your business. The more quantitative you can be now, the more complete your agency success and value story will be later. Next step: Document the details of the COVID-19 pandemic’s impact on team, customers and prospects, efficiencies, expenses, ecosystem partners and others. The view before, during and after will go a long way in reducing the risk a potential buyer may perceive. David J. Dillon, Principal   
Monty Dise, President
Is Your Insurance Agency an Association Freeloader?
Thank you for being members. Thank you for volunteering. Thank you for your contributions to the industry. Thank you for your support.
Simply put, we wouldn't be the association we are today, without you. We strive to bring value to you and your organizations by providing you with quality education, information, resources, legislative advocacy and agency protection.
If you are not a member and don't know where to start, contact Don Bragg at 804-747-9300 ext. 114 or dbragg@iiav.com. Don’t be a freeloader — join IIAV today — it is more important than ever.
State & National News
“Viruses are infection agents that are too small to be seen with a light microscope. Viruses have the ability to reproduce, multiply and mutate. They can kill if not contained.”
I started to dig deeper into that definition. Come to think of it, one could easily argue that distracted driving behaviors and viruses operate in similar fashions. Both are invisible and are deadly if left unchecked.
We are pleased to announce that James "Judge" R. Parker has joined MMG Insurance as regional manager for Virginia. MMG has a long-term commitment to Virginia, with the intent to continue building our regional operations to include an office in the Richmond area in the near future. Our vision is to further develop Virginia through the Independent Agency channel utilizing our solid products, service oriented culture, and proven leadership. Central to the blueprint is to do business with only a select number of agents that align with our values, so that the MMG franchise is truly meaningful and highly valued.
IIAV News
Please see the latest TrustedChoice.com video. Part of the TrustedChoice.com #WFH campaign — supporting independent agents and agency staff working at home — it's an excellent and timely message during the pandemic!
Upcoming Events
Our next conversation will take place on Wednesday, May 13, from 1:00pm - 2:00pm.
As of May 15, much of Virginia will begin Phase 1 of reopening for business. We’ve all heard that this process will be more like slowly turning on a dimmer, rather than flipping a light switch. There are any number of questions and uncertainties, but one thing we are all confident of is that the return to business as usual will feel anything but normal.
For this session, we’ve enlisted Claudia St. John, president of Affinity HR Group, an IIAV Endorsed Vendor, and all-around HR authority. She will guide us through the things we all must take into consideration, including the critical steps and best practices to ensure the safety and well-being of you, your team and your clients.
Even as the process of reopening begins in Virginia and elsewhere, the situation continues to evolve and therefore, information changes rapidly. Claudia will be providing the most up-to-the minute knowledge available so that you and your team can resume business with confidence and safety.
Education
IIAV is committed to be Virginia's leading insurance CE provider, so we have moved a number of our classes to webinars and will continue to do so as needed. We will continue to provide courses for all agency staff, no matter your experience level.
Check out all that 2020 has to offer here! Click learn more to see what's coming up for the the month of May!
Effective June 1, 2020, Prometric will administer insurance and public adjuster licensing examinations. Pearson VUE will no longer administer exams after May 31, 2020.
Remotely proctored exams will be available. Prometric’s ProProctor gives candidates the ability to test at home or elsewhere.
Prometric will operate the following testing centers starting June 1, 2020 in the following Virginia cities: Chesapeake, Falls Church, Lynchburg, Richmond and Roanoke.
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