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| December 2023 | ||||||||||||||||||||||
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Welcome
IIAV Member Resources
In an era where cyber threats loom large, the insurance industry finds itself at the forefront of safeguarding sensitive data and preserving client trust. As insurance agencies become increasingly digital, the need for robust cybersecurity measures has never been more critical.
Help your customers gain an extra layer of protection over existing homeowners, auto, and other personal insurance policies with a stand-alone Personal Umbrella policy from RLI. While an RLI Personal Umbrella policy is a low cost solution to substantially increase your clients’ overall liability protection, they may ask you, “What is RLI?” As we start a new year, let us answer this common question.
Photo by Craig Whitehead on Unsplash The Big “I" Professional Liability program has created a free “Commercial Producer Onboarding Guide," a self-paced learning resource that provides an overview and learning path through 13 core prerecorded “Lightning Learning" risk management webinars. These webinars are essential tools for both new and seasoned commercial producers. The guide highlights typical commercial lines exposures that can create agency E&O claims and provides learning tools to avoid or minimize risk. (Member login required.)
 Download the "In Your Corner" marketing resources created to help educate consumers on the causes behind their increased home or auto insurance premiums. Digital ads, social media ads, print ads, videos and more.
State & National News
More than $600,000 has been awarded to the Virginia Department of Transportation in an effort to develop a statewide plan to identify roads with the highest risk of collisions with wildlife. The U.S. Department of Transportation’s Federal Highway Administration announced that a $604,000 grant was awarded to the Virginia Department of Transportation to reduce those collisions.
Photo by Jeffrey Hamilton on Unsplash The SECURE Act, which was passed in 2019, requires that sponsors of 401(k) plans must allow eligible long-term part-time employees to begin participating as of January 1, 2024. To be eligible, these part-time employees must have worked at least 500 hours in 3 consecutive 12-month periods. The consideration period began January 1, 2019, so eligible employees employed since then will be eligible to participate January 1, 2024.
Food For Thought
A new year means new employment laws, trends, and challenges. While there is no way to capture everything, here are some of the important trends we are following as we enter 2024.
Photo by Maddi Bazzocco on Unsplash Q: I just found out one of my employees is job-hunting. What should I do?
A: While a common reaction is to get defensive, it is not necessarily a bad thing when an employee explores the job market. Usually, employees who meet with other companies will either find a better opportunity allowing you to find someone more engaged or they will realize they have a good thing and recommit to your company.
Upcoming Events
Press Releases
Affinity HR Group, a trusted leader in human resources consulting, is excited to announce its rebranding to The Workplace Advisors. This effort reflects The Workplace Advisors' dedication to remaining at the forefront of industry trends and best practices.
Education
Agency Focus
According to the 2022 Best Practices Study, agencies invest anywhere from 2.5% - 3.5% of their total revenue in technology. There is no question that technology is and will continue to make a massive impact on our industry and the way that agents of today and tomorrow serve their customers. Investing in technology for your independent agency can be a game-changer, however, it's important to have a well-thought-out plan to ensure that your investment pays off in the long run.
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