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| April 2021 | ||||||||||||||||||||||||||||||
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Top 3 Articles
Welcome
From the Desk of the President & CEO
IIAV Member Resources
 Time is running out to register for the Big “I" Virtual Legislative Conference, which is scheduled to take place April 13–16.
This is the premier legislative event for the independent agency system, and with each session starting at 2 p.m. ET and only running 45-60 minutes — no travel, no time away — everyone has a chance to hear from top legislators and industry leaders on issues that will affect your members and their clients.
(Photo Source: IIABA.com)
 The crooks are evolving and getting smarter.
Agents, underwriters, and IT experts are scrambling to make sense of the current cyber risk management environment, but they’re speaking different languages and struggling to create an effective message.
Meanwhile, insureds … yes, that includes agencies such as yourself … try to guard their tech infrastructures, but too often fail on basic defensive measures like software patches and penetration testing.
Welcome to the state of the cyber insurance market in 2021. Observers from across industry sectors are sorting out the trends and options, while seeking an approach that meshes their respective strengths against sophisticated, well-capitalized criminal groups.
(Photo Source: Canva.com, buychecklight.com)
 Brought to you by ePayPolicy.
Today, the business world is increasingly digital. Consumers constantly turn to online resources to find information, and independent insurance agencies need to be part of that landscape if they want to connect with clients.
The sheer volume of options can make developing an online strategy challenging. After all, as an independent agent, your time is valuable, so you need to know which approaches are more likely to yield results and resonate with your clients.
(Photo Source: Canva.com, epaypolicy.com)
 Question: We were required to offer employees paid time off under the Families First Coronavirus Relief Act (FFCRA) last year. Do I still need to?
Answer: While it is no longer mandatory for employers with fewer than 500 employees to offer this time off, it is voluntary.
The Consolidated Appropriations Act signed by President Trump extended the accessibility and tax credits for the FFCRA through March 31, 2021, but made it voluntary to offer. The recently enacted American Rescue Plan Act extended FFCRA as a voluntary benefit and applicable tax credit offset through September 30, 2021, and it also made some revisions including:
- expanding the covered reasons to include vaccine appointments and time off due to complications from receiving the vaccines;
- reset the allotment of available time off (2-week / 80-hour of sick time and 10 weeks of paid family leave per employee) March 31, 2021;
- increase the amount of credit available for employees offering paid family leave to $12,000;
- increase the number of days self-employed individuals can use to calculate qualifying leave to 60 days;
- increase time off for federal workers to 15 weeks; and
- require employers to provide FFCRA to all employees without discriminating against a certain group.
Again, any FFCRA is voluntary as of January 1, 2021. However, providing employees with this paid time off (as well as related costs such as insurance premiums) is repaid to employers through the offset of payroll taxes.
(Photo Source: Canva.com/AffinityHRGroup.com)
  
A track record of growth is essential for a compelling agency success and value story. Growth is often a function of a strong marketing strategy; selecting a target market, getting close to clients and prospects in the target market so you can understand their needs and desires, and demonstrating how you help achieve their needs and desires. Unfortunately, the execution of the marketing strategy often leaves something to be desired. It is very common to lead with our capabilities and deliverables with clients and prospects — how long the agency has been in business, what licenses and accreditations we have and other strengths. However, what clients and prospects really care about is how their business is better after working with you. The "Afters." The Afters we provide can be either more of a positive thing or less of a negative thing. Coming up with your Afters takes some work but will help change your conversations with clients and prospects, and therefore enhance your agency success and value story. Next Steps. Get the agency team together and list the "Afters" your clients get after working with you. Try to come up with at least 20 of them. If you prefer to use worksheets, please download the “Afters” Worksheet from WatneyInsights.com/resources. David J. Dillon, Principal
State & National News
 Distracted driving is any activity that diverts a motorist's attention away from the task of driving. Help us spread the word that driving distracted places all road users at risk. Start planning today to make your company or organization a leader in the fight against distracted driving. There are SO many ways to easily share the message, especially in a virtual format!
(Photo Source: Canva.com, drivesmartva.org)
 Tornadoes, wind, hailstorms, flash floods, lightning and hurricanes. These are among the severe weather events that can accompany spring. No matter what the season, unpredictable weather patterns and intense weather activity are becoming increasingly common in Virginia and in many other regions.
(Photo Source: Canva.com)
 For Virginians enrolled in a high-deductible health insurance plan (HDHP), the State Corporation Commission’s Bureau of Insurance (Bureau) encourages residents to understand the potential benefits of opening a health savings account (HSA).
(Photo Source: Canva.com)
 Governor Ralph Northam announced that all individuals in Virginia age 16 and older will be eligible to get the COVID-19 vaccine starting on Sunday, April 18, ahead of the May 1 nationwide goal set by President Joe Biden. Governor Northam made the announcement during an April 1 visit to a vaccination clinic at First Mount Zion Baptist Church in Prince William County, where more than 1,000 vaccines [were] administered.
(Photo Source: Canva.com) 
(Photo Source: Canva.com, IIABA.com)
IIAV News
 The 2021 IIAV Annual Convention will be hosted at the brand new Marriott Virginia Beach Oceanfront and will begin with an evening Welcome and Networking Reception on Sunday, October 24, and will close Tuesday evening, October 26.
So, mark your calendar now for October 24-26 for another great IIAV Convention and Tradeshow. You won’t want to miss it!
(Photo Source: Rebecca Arnold/Canva.com)
 With what certainty can you provide an insurance product to a consumer and tell them that this product is “in their best interest” and have that decision withstand the test of time?
That’s precisely the foundation of a regulatory proposal from the Bureau of Insurance to the Administrative Code entitled Rules Governing Suitability in Annuity Transactions. The recommended changes incorporate provisions contained in a model regulation proposed by the National Association of Insurance Commissioners.
(Photo Source: Canva.com)
Press Releases
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