Big I Virginia E-News

From the Desk of the President & CEO

Hackers Aren’t Looking for Your Clients' Money ... They Want YOURS!

We’re told by our cyber insurance carrier that they’ve seen an increase in agents being subject to ransomware attacks. I wanted to explore this question further and decided to contact Ron Berg with the Agents Council on Technology. My question was: Have y’all seen any articles on ransomware with examples that we can publish? How does this work when your database is pretty much with an AMS?Maybe the carrier is saying there’s an increase in ransomware generally.

^{_{(Photo Source: Canva.com)}}

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=665662&issueID=74032 to view the full article online.

IIAV Member Resources

"Big I Leads the Way" at National Big I Virtual Legislative Conference

April 13-16, FREE for members.

Join Big "I" from the comfort of your computer or mobile device and get up to speed on the many legislative, regulatory and legal challenges to your profession happening now. Hear from legislators, carriers and industry leaders and walk away with a plan to help you lead the way and protect your industry.

The Big “I” has your back, especially in uncertain times. While you are helping your clients, the Big “I” team is working around the clock to protect your industry — and now we need your voice, are you ready to act? Register today!

Visit https://www.independentagent.com/Events/LegislativeConference/home.aspx to view the full article online.

Managing an Employees' Online Behavior

By: Paige McCallister

Affinity HR Group

We have all read stories of someone’s unacceptable or illegal actions going viral and the public using social media to identify that person and where they work and live. While we normally think of social media as a personal pastime, social media can be a valuable resource for business purposes. And, employee behavior on social media can also have a significant negative impact on your business’s reputation and livelihood.

_{^{(Photo Source: Canva.com/AffinityHRGroup.com)}}

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=665666&issueID=74032 to view the full article online.

Reminder as to When Your License and CE Renewal is Due!

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=665931&issueID=74032 to view the full article online.

A Question of Value with David Dillon

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=665949&issueID=74032 to view the full article online.

$50 Off Social Media Services with Little Dog Social Media!

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=665953&issueID=74032 to view the full article online.

State & National News

Florida TV Viewers Pelted with COVID-19 Trial Lawyer Ads

As Florida legislators meet and determine how best to handle the pandemic’s continuous impacts, new data from the American Tort Reform Association (ATRA) demonstrates the need to prioritize liability protection.

Florida was a prime target for trial lawyers in 2020. From March through December last year, Florida accounted for approximately 20% of ad spots and spending on legal services TV ads mentioning COVID-19 or coronavirus.

^{_{(Photo Source: Canva.com)}}

Visit https://www.atra.org/2021/02/09/florida-tv-viewers-pelted-with-covid-19-trial-lawyer-ads/ to view the full article online.

Big ‘I’ Praises Reintroduction of Main Street Tax Certainty Act

The Independent Insurance Agents & Brokers of America (the Big “I”) is grateful for the reintroduction of the “Main Street Tax Certainty Act” in the U.S. House of Representatives by Reps. Jason Smith (R-Missouri) and Henry Cuellar (D-Texas) and in the U.S. Senate by Sen. Steve Daines (R-Montana). The legislation would make permanent a 20% deduction on qualified business income for some owners and shareholders of pass-through businesses.

^{_{(Photo Source: Canva.com)}}

Visit https://www.naylornetwork.com/via-nwl/pdf/tax_certainty_act.pdf to view the full article online.

Virginia Tax Conformity – PASSED

The House and the Senate each had their own version of Tax Conformity bills this year. The main issue at hand was the cap amount for deductions of business expenses for the Paycheck Protection Program (PPP) Loans. Both bills, as passed the body of origin, allowed for a business that received a PPP loan to exclude the forgiven loan amount from their income, however each instilled a cap for maximum deduction to cover one’s business expenses related to their PPP Loans.

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=665952&issueID=74032 to view the full article online.

SCC’S Bureau of Insurance Recovers More Than $14 Million for Consumers in 2020

Last year, the Virginia State Corporation Commission’s (SCC) Bureau of Insurance (Bureau) helped thousands of consumers recover approximately $14.3 million in refunds, benefits, restitution and other payments related to their insurance coverage. These efforts are only one of the many ways in which the Bureau assists Virginians who have insurance questions or concerns — whether those consumers are shopping for insurance, trying to understand what their insurance policy covers, have questions about premiums, or question why their insurance company did not renew a policy or why it denied a claim.

Visit https://www.naylornetwork.com/via-nwl/pdf/SCC_-_Consumer.pdf to view the full article online.

IIAV News

2021 IIAV Annual Convention is Moving to a New Date!

We're not pessimistic. We just have delayed optimism!

While we can’t think of anything better right now then a couple of days in the sun in Virginia Beach, we just don’t believe it’s prudent at this time to expect that we will be able to safely hold our Convention as planned in June.

Therefore, the IIAV Board of Directors has unanimously voted to move our convention to October again.

^{_{(Photo Source: Rebecca Arnold/Canva.com)}}

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=665664&issueID=74032 to view the full article online.

IIAV in the News: While Most Car Insurance Refunds for the Pandemic Have Ended, Some Insurers are Offering Discounts as Motorists Drive Less

John Reid Blackwell
October 2020
Richmond Times-Dispatch

Automobile owners in Virginia will have to shop around now to get the best deals on car insurance if they are not driving as much during the pandemic.

^{_{(Photo Source: Canva.com)}}

Visit https://www.naylornetwork.com/via-nwl/pdf/IIAV_in_the_news_-_better.pdf to view the full article online.

Press Releases

Harford Mutual Ins Group Makes Multi-Year Commitment to the NAMIC Mutual Ins Foundation Scholarshipip Program

Harford Mutual Insurance Group announced a multi-year, $25,000 commitment to support the National Association of Mutual Insurance Companies (NAMIC) Mutual Insurance Foundation Scholarship Program. The program provides financial assistance to undergraduate students pursuing a wide variety of career opportunities related to the growing insurance industry. Beginning in 2020, Harford Mutual pledged to donate $5,000 per year for five years.

^{_{(Photo Source: HarfordMutual.com)}}

Visit https://www.naylornetwork.com/via-nwl/pdf/Harford_NMIF_Scholarship_Program_Donation.pdf to view the full article online.

Who's Making News

Gallagher Broker Young Chol Kim Recognized as a 2021 Hospitality Power Broker

Young Chol Kim, CIC, CLCS, SBCS

Area Assistant Vice President, Gallagher
Potomac Falls, Va.

Most Power Broker testimonials are enthusiastic, but circumspect.

Clients speaking about Young Chol Kim, however, came in with glowing reviews of his ability to get hospitality businesses much-needed insurance payments in the wake of COVID-19.

_{^{(Photo Source: ajg.com)}}

Visit https://riskandinsurance.com/award-profile/gallagher-broker-young-chol-kim-recognized-as-a-2021-hospitality-power-broker/ to view the full article online.

Big I Virginia E-News

Independent Insurance Agents of Virginia