PUT THAT CELL PHONE DOWN! And you thought I’d mention something about the election.

 

As the transition/non-transition plays out, and the control of the Senate doesn’t seem to be clear until January, there really isn’t that much to say about the election that you have not already seen.

 

So … starting January 1, 2021, there’s a new law that takes effect that you cannot have a cell phone in your hand while driving. The law passed during the last session of the General Assembly with a delayed effectiveness date of January 1, 2021.

SwissRe/Westport’s recent change to allow a 5% premium credit for website reviews is a wonderful opportunity for your agency to take advantage of the savings.

 

If your agency is already receiving a current 2020 10% Risk Management premium credit you are now eligible to receive an additional 5% credit if you have a website review completed.

The final months of the year are always challenging. The quest to finish strong while planning for the following year bring out the best in a leadership team. This period is even more demanding given the events of 2020.

Taking the time now to document the significant business impacts of the COVID-19 pandemic and resulting economic effect will provide a big payoff later. Years from now, your financials will reflect the results of the pandemic on your agency, but to communicate your story to a potential buyer you will need some level of quantitative detail.

A lesson from past downturns is to keep a detailed journal of the impacts that these economic challenges have on your agency. The more quantitative you can be now, the more complete your agency success and value story will be later.

Next step: Document the details of the COVID-19 pandemic’s impact on team, customers and prospects, efficiencies, expenses, ecosystem partners and others. The view before, during and after will go a long way in reducing the risk a potential buyer may perceive.

In today’s world, business begins online. Between 70-80% of consumers research a business online before engaging with them. A staggering 97% of consumers turn to online search to find a local business or service.

If you’ve ever wondered how to make your website do more, you’ve come to the right place. It’s time to win.

RICHMOND – As COVID-19 surges in states across the country, Governor Ralph Northam has announced new actions to mitigate the spread of the virus in Virginia. While the Commonwealth’s case count per capita and positivity rate remain comparatively low, all five health regions are experiencing increases in new COVID-19 cases, positive tests and hospitalizations.

RICHMOND – Governor Ralph Northam announced $22 million in federal Coronavirus Aid, Relief and Economic Security (CARES) Act funding will be used to create a statewide program to distribute COVID-19 vaccines when such vaccines are approved for public use. Virginia’s draft vaccination plan was submitted to the Centers for Disease Control and Prevention (CDC) in October.

RICHMOND – Fast-moving and often weighing more than 100 pounds, a deer in the roadway poses a threat to even the most careful driver. Mating season and migration contribute to a dramatic uptick in vehicle-deer collisions during the fall, especially in Virginia, which is among the states with the highest risk of these types of collisions. For this reason, the State Corporation Commission’s (SCC) Bureau of Insurance reminds drivers to stay alert, particularly when traveling during darker times of the day.

RICHMOND – Many consumers will soon shop for health care coverage during the open enrollment period for the 2021 health insurance marketplace through HealthCare.gov. This open enrollment period for plans under the federal Affordable Care Act (ACA) runs from November 1 through December 15, 2020. After this date, consumers may only buy an ACA-compliant health insurance plan if special enrollment conditions apply to them.

RICHMOND – Many Virginians will have protection from surprise medical bills beginning January 1, 2021. Individuals enrolled in fully insured managed care plans in Virginia and state employees will benefit from a new law adopted by the 2020 Session of the Virginia General Assembly to curb balance billing.

The new National IA Insurance Company Directory on TrustedChoice.com launched late last week. It’s all about SEO and consumer engagement. The directory will be visited by insurance shoppers and crawled by search engines every day. Over time, we expect the new directory to greatly increase organic consumer traffic to TC.com and to our company partners and of course, to their appointed agents. And given the high-intent nature of the shopper-to-content interaction on these kinds of pages, we are also expecting improved funnel completion rates.

You can access the new National IA Company Directory from the TrustedChoice.com home page and many other places on the site. Or just go here: trustedchoice.com/insurance-companies.

The 2020 Agency Universe Study is underway, and we need to hear from you! This is a challenging time for you and your clients. This means your input is more important than ever, as the industry seeks to understand the current situation and your outlook. Your answers are confidential, and your opinions and best estimates are crucial to the success of this research for all interested parties. Click Here!

Date: November 19, 2020
Time: 2:00 p.m. (ET)
 
This free 75-minute webinar is open to all. This webinar will cover the following:
 
• Review the tax law relating to sale of partnership interest tax issues
• Gain insight to common issues encountered during the Sale of Partnership Interest Campaign
• Understand the Service's position with respect to common sale of partnership interest tax issues
• Plus, Q & A
 
Registration: To register for the event, visit the Internal Revenue Service Webinar Registration.
Questions? Email us at cl.sl.web.conference.team@irs.gov.
 
Sponsored By: IRS Stakeholder Liaison