Big I Virginia E-News
January 2023
Welcome

Agencies

G & G Consultants LLC Bumpass Va  
 
To see all of our available classes in one convenient place, you can check out the education calendar on our website! 
 
If your New Year's resolution was to earn some CE or knock out some new designations, then we have many great options for you, including CRIS, ACSR and E&O classes. 
 
Plus, don't forget about our ABEN classes, which include frequent daily webinars and even on-demand options. 
 
Do these options not line up with exactly what you're looking for? Do you need an in-house class or a specific topic class for your office or agents? IIAV can help! Contact Debbi Little at dlittle@iiav.com or give our front desk a call at 800-288-4428 and we'll connect you with who you need to talk to. 
 
 
  
February 12, 2023, is the BIG GAME! 
 
Are you prepared for Super Bowl LVII? Every Super Bowl party must kickoff with a game plan that prevents drunk driving. (In 2021, there were 241 deaths from alcohol-related crashes in Virginia.)
 
On Super Bowl Sunday, and every day, play it smart by having a winning game plan in place to not drink and drive. Designate before you celebrate! 
IIAV Member Resources
  
RLI is continually striving to make our Personal Umbrella program as efficient as possible for our customers, including 24/7 access to quote and submit business entirely electronically — from client signatures to payment information.

As a result of these efficiencies, fewer days are needed for processing new business submissions. Therefore, RLI will be implementing the following changes to the RLI Personal Umbrella Program effective January 15, 2023:
  • Sub-agents will no longer be able to quote/submit with an effective date prior to the current date. All quotes completed by sub-agents will require a current effective date or forward.
  • Administrators will have the ability to quote/submit with an effective date of up to five days prior to the current date.
If a submission requires an effective date prior to the current date, please verify there have been no losses, accidents or circumstances that might give rise to a claim on the RLI Personal Umbrella policy between the requested effective date and current date. If you determine there have been such instances, please contact RLI before submitting to discuss the risk.
 
All E-Signature links will continue to be active for five days from when the email is sent from RLI.
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
  
On December 15, 2022, Governor Glen Youngkin announced his budget amendments for the 2023-2024 Biennium. The money committees from both the House and the Senate gathered to listen as the Governor outlined his priorities for the upcoming year. We are continuing to comb through the 700-page budget for any items that impact our industry, however, an overview of the Governor's tax plans is below. 

Governor Youngkin has proposed reducing the corporate tax rate from 6% to 5%. The Governor did state that his goal is to reduce the rate down to 4% by the end of his term. 

He is also proposing a 10% deduction on business income for small businesses. In addition, he is doubling the standard deduction for individuals and married couples, to $9,000 and $18,000, respectively. He also announced his plan to reduce the individual income tax to 5.5%.
  
The Big “I” applauds the U.S. Senate and House of Representatives for passing legislation that would extend the National Flood Insurance Program (NFIP) and support crop insurance agents, all as part of government funding legislation.
 
“We are grateful that the passage of this government funding legislation includes key NFIP and crop insurance priorities, and the Big ‘I’ would like to thank Congress for ending 2022 with good news for the independent agency channel,” said Charles Symington, Big “I” executive vice president. 
  
Allstate’s chief executive officer said his company will likely continue pushing for auto insurance rate hikes next year, and he expects the carrier’s largest mutual competitor — State Farm — to move in the same direction.
  
Research shows that car, pickup truck and SUV drivers — including teens — initiate more than 75% of incidents involving heavy trucks. "Good Morning America" visited the Virginia Tech Transportation Institute (VTTI) to provide viewers with a first-person perspective of what it is like to drive a truck on the road and tips on how to safely drive around them.
Goodville Mutual
RT Specialty - Richmond
IIAV News
14.52% of IIAV dues for 2022 are not deductible as a business expense, due to the lobbying activities of the association on your and the industry’s behalf. IIAV dues are paid by the agency. Any questions, please contact Bob Bradshaw at rbradshaw@iiav.com.
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.
Click HERE.
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Press Releases
  
Brethren Mutual Insurance Company is pleased to announce that Robert F. Glass has been named President & CEO, effective January 1, 2023. He succeeds Mike Brashears who retired as President & CEO on December 31, 2022, after a 44-year career with the company.
Hilb Group