Big I Virginia E-News
August 2022
Welcome
Associates
Office Beacon LLC                                   Redondo Beach CA
 
Agencies
Cassedy Insurance Agency Inc                Herndon                                   Dist 5
American Insurance                                  Fredericksburg                        Dist 1
 
 
From the Desk of the President & CEO
What follows is an article I saw published by my professional organization, the Virginia Society of Association Executives. It was written by a “young” association executive titled, “A Young Professional Looks at Thirty” and I found it absolutely insightful, compelling and prophetic. You have any number of options for the future of your agency but if you’re looking for internal perpetuation — or not — there are certainly those looking at their own future. 
 
  
What follows is an article I saw published by my professional organization, the Virginia Society of Association Executives. It was written by a “young” association executive titled, “A Young Professional Looks at Thirty” and I found it absolutely insightful, compelling and prophetic. You have any number of options for the future of your agency but if you’re looking for internal perpetuation — or not — there are certainly those looking at their own future. 
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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.
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State & National News
  
Reuters
The head of National Highway Traffic Safety Administration (NHTSA) said on Wednesday the agency plans a new push to convince Americans to stop speeding, hoping to reduce traffic deaths which have risen sharply in recent years.
  
The Coalition partnered with AON-Ward on our biennial Benchmarking Study which is an in-depth study focusing on the 360 degrees of SIU operations at P&C carriers of all sizes and lines. Vince Albers, Senior Manager at AON-Ward, a division of AON led the study. He is a 15-year veteran in the field. As per Albers, “The biggest benefit to this study is the competitive analysis.” This study provides information specific to SIU operations regarding budgeting, staffing, and outsourcing, for example at a level of detail that is both expensive and difficult to obtain.” Albers estimates that a SIU-specific study commissioned by a midsized carrier at a level of detail comparable to the Coalition’s current Benchmarking Study, could cost upwards of $80K. “This study provides an opportunity for SIU leaders to truly make informed decisions based on the data contained within the study.
  
Virginia Mercury
We’ve been a cantankerous, rude, anxious bunch over the past 2 1/2 years, ever since the pandemic consumed us. That’s understandable — and not exactly news. What is news, and dangerous for anyone driving along highways in Virginia, are the number of shootings and other road-rage incidents plaguing those trips. We’re taking our personal traumas and stress out on anyone who gets within striking distance.
Goodville Mutual
RT Specialty - Richmond
IIAV News
  
Q: My employees are concerned about the latest variant of COVID-19. How do we make sure our office stays safe and compliant?
  
Welcome to Compensation 101, where we define and give examples for those boring compensation terms we throw around all the time. You’ve heard a lot of them recently and probably experienced some of them too, as we navigate through a volatile, often unexplainable, labor market.
The Big “I" government affairs team has your back as it continually advocates for independent agents on Capitol Hill ... both on the front lines and behind the scenes. The team's significant recent accomplishments have helped agents protect and promote their businesses, and we've included these wins in a new video featuring Charles Symington, Big “I” senior vice president for external, industry and government affairs, and Wyatt Stewart, Big “I” assistant vice president of federal government affairs.
 
Watch the new video highlighting these legislative accomplishments to learn more about how the Big “I" has gone to bat for agents on taxes, small business issues, regulation, flood and crop insurance programs, and more.
  
This year marks the 20th anniversary of Virginia’s legislation related to the insurance company use of credit scoring.  
The Bureau of Insurance has issued guidance for companies desiring to write family leave coverage in Virginia, pursuant to new legislation in the 2022 session of the General Assembly.
  
Virginia Mercury
A new online tool aimed at centralizing hospital service prices from across the state was launched this summer by the Virginia Hospital and Healthcare Association. The tool consolidates public access to online links to pricing at every hospital in Virginia in order to “help support patients’ health care decision-making,” according to the VHHA.
Inflation. Inflation. Inflation. We not only hear that word 15 times a day, but we also experience it every day — at the gas pump, supermarket and your morning coffee and bagel purchase.
 
I’m in Control of My Future, Are YOU?
Smart Choice®
Going independent was a challenge, but my partnership made it possible. Agents that join Smart Choice retain ownership of existing and future policies.  That’s right, agents keep what they already have, what they write and give up nothing.  Agents pay no startup fees, monthly fees, maintenance fees, or exit fees, ever.  Agents can utilize our support when they need carrier access or our expertise.
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Who's Making News
The Virginia State Police (VSP) Insurance Fraud Program (IFP) presented awards to five individuals in recognition of their efforts to fight insurance fraud in the Commonwealth.