Big I Virginia E-News

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.

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=862578&issueID=106055 to view the full article online.

IIAV Member Resources

4 Ways a Bank Loan Can Fuel Agency Growth in 2025

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.

Visit https://www.iamagazine.com/strategies/4-ways-a-bank-loan-can-fuel-agency-growth-in-2025?ref=insurancedailynews to view the full article online.

IIAV Legislative Affairs

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!

Visit https://www.iiav.com/Advocacy/Pages/GovernmentAffairs/default.aspx to view the full article online.

Your Business is Our Business ®

Berkshire Hathaway GUARD Insurance Companies are rated A+ “Superior” by A.M. Best (as of July 2024) 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, Commercial Auto, Commercial Umbrella, Professional Liability, and Workers’ Compensation. “Pay-as-you-go” billing options are also featured.

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State & National News

InsurPac Closes the Books on 118th Congress

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.

Visit https://www.iamagazine.com/news/insurpac-closes-the-books-on-118th-congress to view the full article online.

New Year, New Administration: What New Laws Can Employers Expect?

IA Magazine
Every year brings new employment regulations that companies must navigate. Add a new administration and companies can expect more changes as the year evolves. While we do not know exactly what 2025 will bring, here are some predictions.

Visit https://www.iamagazine.com/news/new-year-new-administration-what-new-laws-can-employers-expect to view the full article online.

Food For Thought

2025 ACORD License: Members Can Renew for Free

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.

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=862583&issueID=106055 to view the full article online.

4 Things Homeowners Clients May Need to Update in 2025

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.

Visit https://www.iamagazine.com/strategies/4-things-homeowners-clients-may-need-to-update-in-2025 to view the full article online.

Local Presence. Regional Strength.

Penn National Insurance is small enough to provide personal, caring interactions, but large enough to serve you and your policyholders with the same sophistication and product offering of the largest carriers. We back our promise to help people feel secure and make life better when bad things happen with our strong financial position, and we remain committed to distributing our products and services through independent agencies.

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Independent Insurance Agents of Virginia