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THIS ISSUE
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Agency:
Grimsley Life Insurance - Richmond (District 3)
George Bailey Insurance Agency - Lake Ridge (District
5)
Thomas C Brown Insurance Agency - Richmond (District 3)
J. Michael Insurance Agency Inc.- Colonial Heights (District 4)
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You asked for it.... While I’ve been proud of each and every IIAV convention that we have held, clearly agent attendance has remained stagnant for the past number of years. We have been told by our company partners that they need to have more agent attendance at the conventions from both IIAV and the PIA meetings in order to make them cost beneficial.
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Readers of IIAV’s weekly Legislative Update and agents who have attended IIAV’s Laws and Regulations class for the 2015 session are already aware of this, however legislation was passed in the General Assembly this year – and took effect on July 1 – making it exceedingly difficult or expensive for companies to administer cancellation or non-renewal notices. In short, past delivery methods previously permitted by statute are no longer permissible – including certificates of mailing and certificates of bulk mailing.
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Kevin P. Kowar was recently hired by PIA of VA/DC to be its new association executive, replacing Dennis Yocum whose contract was not renewed in December 2014. Kowar started work with PIA in July.
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On the heels of its proposed overtime regulation, the U.S. Department of Labor (DOL) dropped another bomb on employers last week with the release of a memo on independent contractors. The document provides a lengthy interpretation of the Fair Labor Standards Act (FLSA)’s "suffer or permit to work" standard and alleges rampant misclassification of employees as independent contractors.
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For years, practitioners have been able to rely on the benefits of valuation discounts when incorporating transfers of business interests into gift and estate tax planning. The window to take advantage of these discounts may be closing.
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Independent Insurance Agents of Virginia’s (IIAV’s) 117th Annual Convention and Exhibition was another exceptional education and social event for IIAV families that united at the Hilton Virginia Beach Oceanfront on June 21-23, 2015.
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Insurance Agent of the Year: Carlton L. Gill, Jr., CPCU, ARM, CLU, CRIS, Towne Insurance Agency, LLC, Newport News Insurance Company Person of the Year: Lisa Conley-Johnson, AIAM, AINS, AISM, Selective Insurance Company, Virginia Beach
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The following three insurance professionals were installed as members of the Virginia Financial Services Corp. (VFSC) Board of Directors for the 2015/2016 fiscal year.
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The Virginia Association of Insurance Agents (VAIA) – an affiliated organization of the Independent Insurance Agents of Virginia – has announced the appointment of two new board members, Ryan Atkinson, Atkinson Insurance Agency, and Julian Sylvestro, Insurance House.
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Virginia Association of Insurance Agents headed out to Cedar Bluff in June to offer property & casualty classes in conjunction with Southwest Virginia Community College Workforce Development office.
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Independent Insurance Agents of Virginia (IIAV) inducted its 2015-2016 Board of Directors during the IIAV Annual Convention held June 21-23, 2015 at the Hilton Virginia Beach Oceanfront in Virginia Beach.
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Mark your calendar for IIAV’s Annual Young Agents’ Conference on October 8-9 at the Downtown Omni in Richmond.
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Here is the schedule for the remaining free socials IIAV’s Young Agents’ Committee is hosting.This year we have teamed up with the young professional groups at the Virginia Society of CPAs (VSCPA), Virginia Bar Association and Virginia Bankers Association for some of these socials.
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On August 26, IIABA will offer "Beyond the Basics: Emerging Personal Lines Issues" webinar from 1-4 p.m. It is approved for 3 VA P&C credits.
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InVEST, the insurance industry’s premier classroom to career education program, has awarded $77,000 in scholarships to 88 students pursuing insurance-related degrees. The program is a key incentive in attracting new talent to the insurance industry.
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Join us on Friday, September 18, from 11:30 a.m. to 1:00 p.m. for "Top Technology Tools to Increase Efficiencies for Insurance Professionals" lunch-n-learn at IIAV in Richmond.
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IIAV plans to host webinars on the new TNC law on the following dates:
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Want an easy way to make payments to friend, family, etc.? Venmo allows you to do this in a simplified fashion.
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There have been numerous articles in industry press recently about companies using "price optimization" to charge consumers more if they are not inclined to shop their insurance. A number of state insurance departments have opined that the use of price optimization would be considered discriminatory and not allowed.
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Learning you are a victim of identity theft can be a stressful event. Identity theft is also a challenge to businesses, organizations and government agencies, including the IRS. Tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund.
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The Virginia Bureau of Insurance (VBOI) is a highly-respected, active regulatory body that is involved in all aspects of the business of insurance in Virginia. It is a part of the Virginia State Corporation Commission (SCC), which regulates virtually all types of businesses in the Commonwealth. As counsel to many agents and agencies, I interact with the VBOI on a regular basis. The following piece is intended to answer some frequently-asked questions about the VBOI, particularly with respect to E & O claims, based on my experience.
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Marilyn Tavenner, the former administrator of the Centers for Medicare and Medicaid Services, has been named CEO of America’s Health Insurance Plans, effective Aug. 24.
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We are excited to announce the hiring of seven new associates and eight interns!
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J.M. Wilson is pleased to announce the promotion of Cheryl Gleason as Personal Lines manager. She is responsible for overseeing the day-to-day activities of the Personal Lines team, as well as quoting new and renewal business, coordinating with carriers, and assisting independent insurance agents in 31 states
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