Big I Virginia E-News
January 2019
Welcome
New Members

Agencies:

Coastal Ins Agcy Inc Suffolk, VA
Sweeney Ins Agcy Richmond, VA
Frank Noyes Ins Consulting Richmond, VA
MIM Ins Solutions Reston, VA 
Travis Ins Agcy   Alexandria, VA

 Associates:

eEndorsements McKinney, TX
Erudyne Inc        Kilmarnock, VA
Pop Quiz!

Why do you believe more people don’t purchase flood insurance on their homes?

Send your responses to Bob Bradshaw at rbradshaw@iiav.com

From the Desk of the President & CEO
In Memory of Danny Mitchell
  
 
"I could not believe how lucky we were when we hired Danny, as he knew the insurance industry inside out and also completely understood the nuances of non-profit trade associations. In short, it was his job to meet with prospective members and convince them to join the association, as well as meet with current members and convince them that they made the right decision to join. Can you possibly think of a better person for this job?"
IIAV Member Resources
Health Care Corner: Tips by Monty Dise
The IRS recently announced the 2019 contribution limits for Flexible Spending Accounts “FSAs.” Employers can establish lower FSA contribution limits for their employees, but cannot exceed the IRS limitations. The outline below summarizes the differences between the 2018 and 2019 FSA contribution limits.
Benefit 2018 2019
Flexible Spending Accounts (FSAs) $2,650 $2,700
Limited Purpose FSAs $2,650 $2,700
Dependent Care FSAs $5,000 $5,000
Commmuter Benefits $260 $265
Monty Dise, President 
Asset Protection Group, Inc. 
mdise@apgroupinc.com 
804-423-7700
Tech Tip: By Steve Anderson
  

CoverWallet for Agents: Your Online Access to the Small Commercial Market?
You may have heard of CoverWallet as a new insurance technology startup that offers small business insurance coverage direct to consumer. Most traditional insurance agents consider CoverWallet as the enemy trying to take their business.

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 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.
Learn more
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State & National News
FEMA Announces the Release of the New NFIP Flood Insurance Manual

FEMA released an updated Flood Insurance Manual (FIM) last month, which supersedes the previous FIM. The FIM is a resource for insurance professionals working with FEMA to close the insurance gap.

The redesigned FIM’s goal is to make flood insurance issues and National Flood Insurance Program (NFIP) processes more understandable. Changes in the new manual include:

  • The expanded Newly Mapped rating eligibility (effective October 1, 2018), appears in the How to Write section.
  • FEMA added Cancellation Reason Code 26 to the How to Cancel section to allow termination of an NFIP policy when a policyholder has obtained a duplicate policy from another source.
  • Notification requirements of Preferred Risk Policy Eligibility for certain cancellation reasons appear in the appropriate cancellation reasons within the How to Cancel section.
National Flood Insurance Program – Community Ratings System
This letter is to inform you that the City of Alexandria provides free Flood Insurance Rate Map (FIRM) determinations to all inquirers. 
New IRS Resources on IRS.gov Help Businesses Understand Tax Reform
Last year’s Tax Cuts and Jobs Act made significant changes to the tax law that affect small businesses. The IRS posted two new resources on IRS.gov to help taxpayers understand how these changes affect their bottom line.
Big "I" Government Affairs Alert: Impact of the Federal Government Shutdown on the NFIP and FCIP
The partial government shutdown which began on December 21, 2018, at midnight will impact the National Flood Insurance Program (NFIP) and the Federal Crop Insurance Program (FCIP) as outlined below. At this point it is unclear how long the shutdown will last but many observers expect it could be well into 2019. The Big “I” encourages agents and brokers who sell and service NFIP and FCIP policies to reach out to any insurers they work with for company-specific procedures as needed.
Atlantic Specialty Lines, Inc.
AmTrust North America
IIAV News
Linda Loving – 2018 Association Staff Award of Excellence
  
It’s our honor and privilege to let you know that IIAV/VFSC’s Linda Loving received the 2018 Association Staff Award of Excellence on Friday, December 7, from the Virginia Society of Association Executives. This is one of the highest awards bestowed by VSAE and certainly recognizes excellence within the profession.
Independent Insurance Agents of Virginia Partners with eEndorsements
IIAV is excited to announce a partnership with eEndorsements. Through this partnership, eEndorsements will be donating 20 percent of its IIAV monthly subscription sales to the Virginia Association of Insurance Agents (VAIA).  
McLean Insurance Was Spotlighted in the "Most Charitable Companies"
Each September for the past eight years, McLean Insurance — a 47-year-old firm in Sterling — has hosted a car show to raise money for the Leukemia & Lymphoma Society. It’s a small officeof just 18 people, but it donates more than 1,000 hours to make Carz Cruizin to Cure Cancer happen. The first car show was held to honor president and CEO Doug Megill’s father, who founded the company and died from a rare form of leukemia. This year’s event raised over $40,000, bringing the eight-year total to more than $200,000. But the company isn’t done. To reach next year’s goal of $50,000, it plans to host cornhole contests with local bars and restaurants.
Affinity HR Group Q&A

Q: We have a challenging employee. I've been working with him for two years. He has lost the confidence of his team. I've plotted a course for him to improve his performance, but he just refuses to take advantage of the resources and support that we've provided him. I don't know what else to do.  What do you recommend?

Upcoming Events
 
IIAV Member/PIA Member Cost: $20.00 through January 16, 2019
Non-Member: $50.00/Late Registrant: $30.00
 
 
Agency Systems
Penn National Insurance
Education
What’s in Your Annual Employee Engagement Plan?
January is an exciting time of “new” plans, where we start off with a clean slate and an open vision of the year ahead. In the world of people management or talent development, it is the perfect time to re-evaluate and set your strategy for the year ahead. 
New and Improved ...
You may have noticed our 2019 classes are a little slower to appear on the website for registration than normal. Don’t worry, they’re coming. We are in the middle of switching our membership database to a new cloud-based database, which will improve our ability to provide you with the best possible membership experience. We will have everything up and running as soon as possible, and we appreciate your patience and apologize for the delay. In the meantime if you have any questions, please reach out to Carter Lyons at clyons@iiav.com or 804-747-9300.