Big I Virginia E-News
May 2023
Welcome
IIAV wants to hear from you as we work to make our programs and services better for you. We’ll randomly draw from the responses to receive a $25 Starbucks gift card. We look forward to hearing from you!
 
This months question: What do you NOT like about webinars?
 
Send your response to: members@iiav.com
Please list your name, title with your agency and email address to be included in the drawing.

New Associate Members 
Bond Exchange – Charlotte, NC
Boston Insurance Brokerage – Boston, MA
Branch Insurance – Columbus, OH
 
New Agency Members 
Access Financial & Insurance Services – Woodbridge, VA
Kolstad Insurance Services – Jacksonville, NC
Learn More About These New Members

5/5/23   Haun Magruder                Mike Funkhauser    Chesterfield, VA          $250
Find out how to be a VAPAC contributor!

 

Act fast! While these nominations and awards are some of IIAV's highest honors, we are only taking nominations until Friday, May 19! Click the link below to submit nominations. 
Submit Your Nominations Here!

IIAV Member Resources

Spring is here and Trusted Choice® has new content available to assist you with your social media strategy this season. Browse the full library of ready-to-use articles, graphics, videos and infographics that you can utilize before the season is over. You will find content on flooding, car maintenance, spring tips and more!
Learn More...

This growing resource will help you attract the talented applicants you seek in a timely fashion.
 
Located under Resources on our website, the Career Board is the destination for those interested in a career in the insurance industry. The IIAV Career Board provides an opportunity for individuals to connect with agencies or companies ready to hire. Listing your job posting is FREE to members and $50 for non-members. Your job posting will remain on the IIAV Career Board for 60 days.
 
There is also a section for you to see if people looking for a new position have posted their resume for your review.
 
If you have any questions, or need more information please contact Don Bragg at dbragg@iiav.com or 800-288-4428.
The Security You Need. The Name You Trust.
Berkshire Hathaway GUARD Insurance Companies®
Berkshire Hathaway GUARD Insurance Companies are rated A+ “Superior” by A.M. Best (as of July 26, 2023) and backed by the financial strength of our ultimate parent, Berkshire Hathaway, Inc.  In Virginia, we offer a full product suite for your commercial clients that includes a Businessowner’s Policy (with typical limits up to $20 million; $50 million for select classes), Commercial Auto, Commercial Umbrella, Professional Liability, and Workers’ Compensation.  “Pay-as-you-go” billing options are also featured. 
Learn More
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State & National News
  
Inside Business 
Five small businesses won a competition to create new ways to reduce flood-related insurance premiums and payouts by 50%. RISE, a Norfolk-based nonprofit focused on seeking solutions to the problems coastal communities face with sea level rise and recurrent flooding, announced the winners of its $1.5 million Flood Insurance of the Future Challenge. The companies are: National Flood Experts, Plover Parametric, reThought Insurance, Ric and True Flood Risk. Each of the businesses will receive up to $300,000 in funding to test its innovations in Hampton Roads and advance to market by the end of the year.
  
Attorneys general in 17 states urged the federal government to recall millions of Kia and Hyundai cars because they are too easy to steal, a response to a sharp increase in thefts, fueled by a viral social media challenge.
Goodville Mutual
RT Specialty - Richmond
Food For Thought

InsurBanc President Dave Tralka recently spoke with Peter van Aartrijk discussing 2023 agency trends and outlooks.  The conversation’s insight on opportunities and strategies can be valuable to your agency.
 
In this On Point Podcast with Peter Aartrijk, listen as David Tralka, President/CEO of InsurBanc, takes the temperature on the agency marketplace.  Dave discusses merger and acquisition activity, PE purchases, preserving agency legacy with staged perpetuations and an agency's "culture of achievement."
Click Here to listen in!

As the number of cannabis businesses throughout North America increases, states, lawmakers, insurers, agents and insureds are faced with new risks and liabilities.
 
Innovation in cultivation, production, dispensing and the sale of cannabis and cannabis-derived products are expanding the product's reach. One of the latest trends is retail consumption lounges, where customers are allowed to purchase and consume cannabis products on site.
Learn More...

Dog bites and other dog-related injuries cost homeowners insurers more than $1 billion in 2022, a 28% increase over 2021, according to the latest claims data analysis from Insurance Information Institute (Triple-I) and State Farm.
Learn More...

Question: We have an employee who matched as a living donor. What do we need to offer them?
 
Answer: First of all, it's wonderful that your employee is considering being a living donor! As an employer, it's important to support your employees in their personal endeavors whenever possible.
You should treat this situation like any other leave request. Request doctors' notes to clarify the expected duration of the absence, when your employee will be able to return to work, and if there are any restrictions they should adhere to upon return.
Read the Rest

  
 
Since 1949, May has been recognized as “Mental Health Awareness Month” in the U.S. The goals of this campaign include destigmatizing mental health problems, increasing public awareness and creating support for the millions who suffer from mental health conditions.
 
According to the National Alliance on Mental Illness (NAMI), mental illness is “a condition that affects a person’s thinking, feeling, behavior or mood,” which “deeply impacts day-to-day living and may affect the ability to relate to others.” It is estimated that:
●        1 in 5 adults in the U.S. experience mental illness each year;
●        1 in 20 adults in the U.S. experience serious mental illness each year; and
●        1 in 6 youths (6 – 17 years of age) in the US experience a mental health disorder each year.
 
Please note: In this article, we follow NAMI’s example by using the terms “mental health illness” and “mental health condition” interchangeably.
IIAV News
Hilb Group
Iroquois Mid-Atlantic