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| May 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Top 3 Articles
Welcome
From the Desk of the President & CEO
 Recently, IIAV was asked by the Virginia DMV to participate in a study of motorcycle safety as it relates to lane filtering under certain conditions, and the impact of such actions on the safety of motorists in the Commonwealth. The study is the result of legislation introduced during the 2020 session — HB 1236 — on this topic and a request by the Senate Transportation Committee Chairman, Dave Marsden (D-37th).
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IIAV Member Resources
 IIAV will be working to assist in the creation of a NAAIA chapter in the Richmond area. The National African American Insurance Association (NAAIA) was organized to create a network among people of color and others employed in or affiliated with the insurance industry. The association currently has 15 chapters throughout the nation, with 2 others in development, and its members represent every sector of the industry. Pooling this wealth of talent contributes significantly to the association and its members through the sharing of professional knowledge, information and experiences.
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The basic building blocks of agency value are cash flows and risk, but clearly there are many things that impact one or both of these factors. One of my favorites is employee engagement because it impacts many business metrics that affect cash flows and risk. We have mentioned supporting research by Gallup and DecisionWise recently, but the recent update to “Critical Factors Affecting Agency Value” provides another important insight, as they list the quality of agency personnel as the #2 factor affecting agency value. One key aspect of engagement we can all improve is recognition. Sincere, genuine recognition provides a positive impact for everyone involved – the recipient, the giver, and others that witness the recognition event. This is especially true when recognition is provided in the behavior style (e.g. DISC) of the recipient, because not everyone wants their name in lights or an impressive balloon drop! Recognition generates positive effects in the brain that impact engagement and performance, including the production of dopamine and serotonin. And while you can stand up a program or initiative if you prefer, the most effective recognition requires no budget because there is no cost, no training needed, and no approvals to secure. Improving employee engagement provides a positive impact to metrics that improve agency value. Recognition is a key piece of employee engagement. For sustainable recognition results you can start small and people will take notice – the objective should be progress, not perfection. Next Steps. Consider how your team would answer one of the twelve Gallup questions; “In the last seven days, I have received recognition or praise for doing good work.” What one action can you take next week to improve the answer you get? David J. Dillon, Principal Watney Insights Network, Inc.  Christina Mendenhall currently lives in Texas but is moving to Richmond and is looking for employment. Her preference is to work remotely, as she has successfully done that in the past for other agencies. Read her resume below!
And don’t forget to post your hiring or career needs on the IIAV Career Board at www.iiav.com.
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State & National News
 Governor Ralph Northam recently amended Executive Order Seventy-Two to adopt new guidance from the Centers for Disease Control and Prevention (CDC) on mask use in outdoor settings. The CDC guidelines state that fully vaccinated individuals do not have to wear masks outdoors when alone or in small gatherings. Mask use is still required indoors and outdoors at large crowded events like concerts, sporting events and graduation ceremonies. People are considered fully vaccinated two weeks after receiving the last required dose of vaccine.
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 In soon to be released regulations, the Virginia Bureau of Insurance has reiterated that all agencies —commensurate with the size and complexity of the agency — must have a written information security program that outlines the administrative, technical and physical safeguards for the protection of nonpublic information. The regulations will provide some guidance, beyond the Code, for the conduct of periodic risk assessments within the agency.
(Photo Source: Canva.com, Securibly.com)  On Friday, April 2, the Federal Emergency Management Agency unveiled the details of an overhaul to its beleaguered National Flood Insurance Program, the initiative’s first major update in 50 years. Most homeowners in the program will have lower or stable premiums, but roughly 11% of homes — largely the highest value ones — will see increases in premiums of at least $10 a month. Those could continue to rise until they reach a cap of $12,000 a year.
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 Every year, Old Dominion University's annual Economic Forecast provides what has come to be recognized as an accurate prediction of the financial year ahead for Hampton Roads, Virginia, and the nation. Except last year, that is: "COVID-19 basically threw our forecast out the window," said Economic Forecasting Project director Vinod Agarwal, an ODU professor of economics.
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 More Virginians who buy health insurance through HealthCare.gov (the Marketplace) may now qualify for financial help with those premiums. Virginians who already receive financial help could be eligible for additional savings on health insurance coverage following Congress’ passage of the American Rescue Plan of 2021 (ARP).
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IIAV News
 IIAV is pleased to announce that Debbi Little has joined the IIAV staff as director of professional development and programs. Debbi will be responsible for the IIAV education and professional development program, along with her role as the Executive Director for the Virginia Association of Insurance Agents — the IIAV non-profit educational organization that primarily works to promote the insurance industry as a valued career choice, as well as directing the pre-licensing program for P/C and life/health. She will also be the staff liaison to the IIAV Young Agents program.
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 During the recent IIAV Board of Directors meeting, the report of the Nominations Committee for the following slate of officers and directors for FY 2021/22 was approved:
Priscilla Hottle with Hottle & Associates – Chairman
Michael Yergey with Yergey Insurance Services – Chair-elect
Ryan Andrew with the Andrew Agency – Vice Chair & Treasurer
Chris Cralle with Cralle Insurance Agency – District 1 Director – 2nd term
Chuck Gibson with Bankers Insurance Fairfax – District 5 Director – 2nd term
Jason Pittman with Encompass Insurance – Associate Member Representative
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 The Independent Insurance Agents & Brokers of America (the Big “I”) thanks the U.S. House of Representatives for passing H.R. 1996, the “Secure and Fair Enforcement (SAFE) Banking Act” in a strong bipartisan fashion. The legislation would protect agents and brokers who write insurance coverage for legitimate cannabis-related businesses from criminal prosecution and civil liability.
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Upcoming Events
 Now’s the time when we need to be thinking about those who need our help.
The IIAV Young Agents Committee has selected the Cell Phone for Soldiers program as one we can support. Our U.S. soldiers and their families are heroes that continue to help our country in so many ways, and here’s a way that we can help them back.
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Education
.png) May 19, 2021
9:00 – 10:00 a.m.
Members/Non-Members: FREE
Course #222962 | 1 OGI CE Credit
This course is designed to help insurance agents identify and prevent potential E&O exposures that may be created or exist on their website or in their use of social media. It also serves to help agents advise their customers how to avoid E&O claims.
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 May 25, 2021
9:00 – 10:00 a.m.
Members/Non-Members: FREE
NO CE
With the workplace disruptions of 2020 somewhat behind us, agency owners are looking to return to a new workplace "normal." While what that means for each IIAV member will differ, topics to consider include:
• COVID vaccines and ongoing workplace safety measures
• Understanding provisions of the American Rescue Plan Act and related Paid Leave and COBRA requirements
• Managing a hybrid workforce
Join Claudia St. John, President of Affinity HR Group, IIAV's endorsed HR resource, to discuss these topics and to have your questions answered.
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