Big I Virginia E-News
July 2019
Welcome
Agencies:  
Puffenbarger Ins & Fin Services Warrenton, VA
R Chan Insurance Agency   Reston, VA
   
Associates:  
Jimcor Agencies  Montvale, NJ
Shenandoah Mutual Fire Ins Co Woodstock, VA
AAA Club Alliance Wilmington, DE
Xpress-Pay Courtland, NY
From the Desk of the President & CEO
IIAV celebrated its 120th birthday in Virginia Beach and from the looks of everything, we had quite a party. We had more agents and attendees in attendance than we have had for many years. For the first time that I can recall, we actually not only sold out the trade show, but had to turn companies away from exhibiting with a longer and longer wait list. We tried to accommodate as many companies as we could in the exhibit hall, but at some point, it was just not fair to stick in another booth. The traffic in the trade show was almost shoulder to shoulder and it was appropriately named the “Resource and Solution Center.” Our thanks go to the many companies who exhibited and sponsored the convention.
IIAV Member Resources
IRS Announces 2020 HDHP and HSA Limits
On May 28, 2019, the IRS released the following 2020 limits for High Deductible Health Plans (HDHPs) and Health Savings Accounts (HSAs):


2020 HSA Contribution Limits:
Self-Only: $3,550
Family: $7,100

2020 HDHP Minimum Deductible:
Self-Only: $1,400
Family: $2,800

2020 HDHP Maximum Out-of-Pocket Expenses:
Self-Only: $6,900
Family: $13,800

Monty Dise, President 
Asset Protection Group, Inc. 
mdise@apgroupinc.com 
804-423-7700

  
How to Stop Spam Robocalls
 
According to the Federal Communications Commission (FCC), U.S. consumers received approximately 2.4 billion robocalls per month in 2016. It feels like I receive a large number of those calls. It has gotten so bad that I don’t answer my phone (cell or office) anymore from a number I don’t recognize.
 
The FCC is taking steps to try to stem the tide of robocalls and texts. They do provide some helpful information on how to stop unwanted robocalls and texts. An article on the FCC website – Beating Back Unwanted Robocalls – goes into more depth on the problem.
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 July 26, 2023) 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
WASHINGTON, D.C., June 12, 2019 — The Independent Insurance Agents & Brokers of America (the Big “I") thanks the House Financial Services Committee for passing a measure to extend the National Flood Insurance Program (NFIP) for five years.
 Alpharetta, GEORGIA – The Central Insurance Companies have announced the promotion of David Lee, CPCU, to Assistant Vice President in its Southeast Regional Office effective June 3, 2019. 
 
Lee will work with Southeast Regional Manager and Senior Vice President Keith Moore on strategic perpetuation of the underwriting, marketing, and claims functions serving Central’s agency partners in Georgia, Maryland, North Carolina, South Carolina, Tennessee, and Virginia before Moore’s planned retirement in November 2019. 
 Q: We are about to hire an independent contractor but want to run a background check on him before we hire him. Can we run a background check on an independent contractor and make the contract contingent on the results?
RT Specialty - Richmond
ICW Group
Many Americans may consider their home, car or precious heirlooms their most valuable assets, but what about the ability to work and earn a living? Illness or accidents can render you disabled in an instant. In fact, according to the Social Security Administration, more than one in four of today’s 20-year-olds will become disabled before they reach retirement age. If that happens to you, how long could you and your family go without a paycheck and maintain your lifestyle?
 
The State Corporation Commission’s (SCC) Bureau of Insurance reminds Virginians that disability insurance can provide income protection when you cannot perform your job duties or earn a salary due to an injury or illness not related to your job.
Richmond - The State Corporation Commission (“SCC”) is proposing a protection for Virginia consumers enrolled in managed care health insurance plans to guard against surprise bills from medical providers for amounts not covered by their plan. The practice is known as balance billing.
FEMA has released an updated NFIP Manual, effective June 1, which includes several changes to the current edition in effort to improve clarity of flood insurance claims. Click below for a summary of the changes.
Agency Systems
Penn National Insurance
Education
Looking to get started with digital payments? Attend the Digital Payments Made Easy with ePayPolicy webinar!
 
With consumers loving convenience more than ever, agents and brokers are looking for an easy and secure way to collect digital payments without eroding their bottom line.
Check out what IIAV Education has to offer this summer! School may be out but it is the perfect time to knock out some of your required CE credits. See the full calendar at www.iiav.com/education.