Big I Virginia E-News

IIAV Member Resources

Compensating Your Sales Force ? Do You Have the Right Commission Plans in Place?

By now, your sales force is well into sales for the first quarter of 2022. For a lot of organizations, 2020 was a terrible sales year and 2021 brought record sales. So what will happen in 2022? Affinity HR Group doesn’t have any crystal balls, but we do have some ideas about how to be best prepared to meet whatever challenges 2022 may bring.

Visit https://www.naylornetwork.com/via-nwl/pdf/IIAV_March_2022_Article_-_Commission_Plans.pdf to view the full article online.

The Security You Need. The Name You Trust.

Berkshire Hathaway GUARD Insurance Companies are rated A+ “Superior” by A.M. Best (as of 4/20/2021) 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.

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State & National News

Insurance Business Magazine Names Big ‘I’ President & CEO Among Top Global Industry Leaders

Bob Rusbuldt recognized for championing issues crucial to the independent insurance agency channel.

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=722706&issueID=85286 to view the full article online.

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=723649&issueID=85286 to view the full article online.

Understanding The NIST Cybersecurity Framework

The new insurance data security act requires that agencies educate agency staff on the importance of cyber security.

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

Virginia Bureau of Insurance: Administrative Orders Updates

AO 12148 - Effective on or after 3/1/2022

NCCI Item Filing RM-01-VA-2022 Revisions to Residual Market Rule Related to Declinations in Virginia was approved for policies effective on or after 3/1/2022. A minor editorial change was made addressing applications due to previous declinations. The application for assigned risk coverage can include the website of the carrier contact. NCCI advises that the addition of the website was appropriate as an increasing number of declinations are obtained from online sources.

Visit https://scc.virginia.gov/typedfiles/Administrative-Orders to view the full article online.

Virginia Approves A SALT Cap Workaround

The Virginia General Assembly recently passed bills that give qualifying pass-through entities (PTE) the ability to pay state entity-level taxes; i.e. the workaround for the State and Local Tax (SALT) cap.

Visit https://www.muacllp.com/virginia-approves-a-salt-cap-workaround?swcfpc=1 to view the full article online.

IIAV News

IIABA's 2022 Agency Universe Study Is Underway - Your Participation is Crucial

The IIABA is currently fielding the 2022 AGENCY UNIVERSE STUDY which provides critical information for the Independent Agency System, for IIABA, and for insurance carriers. In the current environment with many issues facing the insurance industry, your input is more important than ever.

Visit https://tes.decipherinc.com/survey/selfserve/a1d/zra22001?list=2#? to view the full article online.

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=723650&issueID=85286 to view the full article online.

Send in your Nominations!

Visit https://lp.constantcontactpages.com/sv/lVylxrl/goldeneagle2022 to view the full article online.

Visit https://lp.constantcontactpages.com/sv/x1vqz5i/2022companyperson to view the full article online.

Accounts Deceivable: Email Scam Costliest Type of Cybercrime

It’s a crime that siphons untold billions from the economy — but many people have never heard of it.

Business Email Compromise scams involve criminals hacking into email accounts, pretending to be someone they’re not and fooling victims into sending money where it doesn’t belong.

Visit https://www.insurancejournal.com/news/national/2022/04/12/662518.htm to view the full article online.

I’m in Control of My Future, Are YOU?

Going independent was a challenge, but my partnership made it possible. Agents that join Smart Choice retain ownership of existing and future policies. That’s right, agents keep what they already have, what they write and give up nothing. Agents pay no startup fees, monthly fees, maintenance fees, or exit fees, ever. Agents can utilize our support when they need carrier access or our expertise.

Click HERE.

Who's Making News

Charles S. Nusbaum, the President of Nusbaum Insurance Agency was named a 2022 Tidewater Humanitarian Awards Receipent. His significant board service includes Tidewater Jewish Foundation (where he is Vice Chair); Hospitality for the Homeless (Founding Board Member and Fundraising Chair); The Norfolk Forum (Treasurer); Ohef Sholom Temple Foundation (committee member on House and Archives); and board member at Tidewater Professional Sports, Greater Norfolk Corporation, and Southern Bank. He is Frequent Flyer Blood Donor and Board Member at the American Red Cross Virginia Region. Among his many additional community contributions, Charlie previously served with Norfolk Yacht and Country Club, Norfolk Academy Alumni Association, and Norfolk Crime Line.

Visit https://www.naylornetwork.com/via-nwl/articles/index-v3.asp?aid=722954&issueID=85286 to view the full article online.

Big I Virginia E-News

Independent Insurance Agents of Virginia