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THIS ISSUE
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AGENCIES:
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CoreAssurance Partners Inc
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District 2 |
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 Sounds strange, but indeed IIAV’s new fiscal year starts on July 1 so, technically, we’re starting a new year this month.
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Virginia Insurance Commissioner Jacqueline K. Cunningham will retire at the end of the year after serving for a total of 30 years with the State Corporation Commission’s (Commission) Bureau of Insurance (Bureau). She was appointed by the Commission to serve as Virginia’s 13th commissioner of insurance on January 1, 2011.
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Q: At what point does a small company need a dedicated HR person? Right now our payroll person is handling HR issues. She does an OK job, but I wonder if we are missing something. Click Learn More to find out the answer.
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Big "I" Markets (BIM), a division of the Independent Insurance Agents & Brokers of America (IIABA or the Big "I"), has expanded its small commercial offerings to include a new cyber coverage product for small business clients.
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Due to failure to report Designated Licensed
Producer
RICHMOND,
Va., June 22, 2017 — The Virginia Bureau of Insurance revoked the license to do business of
710 insurance and title agencies for failure to report to the Bureau their Designated Licensed Producer.
Prior to the revocation, the BOI sent three letters and the
fourth and final letter certified, to the agencies. In addition, IIAV
notified our members on several occasions of the new notification requirement
and the legislation was addressed during the Ethics/Laws and Regulations
classes for over two years.
IIAV worked with the Bureau to make the original language of
the bill authorizing the Bureau to revoke licenses less draconian. We
anticipate that many of the agencies caught up in this revocation order are no
longer operating – the original intent of the legislation to clean up the BOI’s
records of active title and insurance agencies.
If anyone has any questions about the order, you may contact
the Bureau of Insurance at (804) 371-9631 or 1-800-552-7945with case number INS-2017-00154.
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Veterans may now use their GI Bill® education benefits – available through the U.S. Department of Veterans Affairs (VA) – to pay the cost of approved licensing and certification tests, including insurance licensure examinations. Dependents of totally disabled veterans or veterans who died in service also can use this benefit under certain conditions.
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By Joe Hudgins – IIAV’s Insurance Guru! Recently the Va. Bureau of Insurance, after accepting industrywide comments, has revised Chapter 400, Rules Governing Unfair Claim Settlement Practices (14VAC5-400-10 through 110). This Chapter specifies the ground rules for any person (this includes agencies) authorized to represent an insurer with respect to a claim. It applies to all lines of insurance other than worker’s compensation, title insurance and fidelity and surety insurance. These revisions took effect June 1, 2017.
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 For the past year, the Young Agents' Committee has been under the direction of Jill Roth - and if you don't already know, some amazing things have happened. We thank Jill for her hard work, her energy and vision and her leadership!
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| Mason Ins Agency |
Orange |
District 6 |
| Hubbard Ins Agency |
Kilmarnock |
District 1 |
| Hundley Ins Agency |
Pearisburg |
District 1 |
| Haun Magruder Inc |
Woodstock |
District 6
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| McCall Ins Agency |
Rocky Mount |
District 4
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| W A Watson & Sons Ins |
Farmville |
District 4 |
| Hanckel Citizens Ins |
Charlottesville |
District 6 |
| Ins Agency Services |
Richmond |
District 3 |
| Saunders & Benson |
Richmond |
District 3 |
| Beskin & Associates Inc |
VA Beach |
District 2 |
| Leonard L Brown Agency Inc |
Blacksburg |
District 7
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| William H Talley & Son Inc |
Petersburg |
District 4
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| Asset Protection Group |
Richmond |
District 3 |
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 In partnership with Virginia Bankers Association, Virginia Society of CPAs, and Virginia Financial Planners Association! (And they’re all free to attend!)
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 An event you want your young agent to attend. With two dynamic, expert speakers, your agency stands to gain a tremendous amount of insight, energy and strategy for being visible, standing out, and growing dramatically in both size and profit. Save the date and stay tuned for more information! Attention Sponsors: If you are interested in sponsorship of any Young Agent events (or others, please contact Carter Lyons (clyons@iiav.com) for more information!
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School may be out for the summer, but that doesn’t mean YOU should stop learning. Quite the opposite, actually. We hope you’ll consider the following questions: • What do my clients need me to learn? • What does my team wish that I knew? • What do I want or need to become better at?
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Click Learn More to view this month's opportunities to #LearnMore.
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(3 minute read) "I feel the need...the need for speed!" It was May of 1986 and Tom Cruise, Danger Zone and the world of the U.S. Navy’s Fighter Weapons School, better known as Top Gun, rocketed to the height of popularity. (Be honest – now you’ve got the song in your head, don’t you?)
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Facing Failure – Why You Should Be Glad it Happened
During his deployment in Iraq in 2006,Jocko
Willink oversaw about 100 people as the commander of U.S. Navy SEAL Team
3 Task Unit Bruiser.
In an
episode of his podcast, Willink explained that he developed a habit that
could annoy his troops but also serve as a
real motivator.
From the podcast:
"One of my direct subordinates, one of my guys that
worked for me, he would call me up or pull me aside with some major problem,
some issue that was going on. And he'd say, 'Boss, we've got this, and that,
and the other thing.' And I'd look at him and I'd say, 'Good.'
"And finally one day he was telling me about some
issue that he was having, some problem, and he said, 'I already know what
you're going to say.'
"And I said, 'Well, what am I going to say?'
"He said, 'You're gonna say, Good. He
said, 'That's what you always say. When something is wrong and going bad, you
always just look at me and say, Good.'"
Willink wasn't being snide or dismissive. Read
on to find out why he reacted in this surprising way. (And make sure to check out the video at the end!)
If you have an app you would like
to share email Carter Lyons, clyons@iiav.com
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In 2018, the Virginia individual health insurance
marketplace will have one less participating health insurer. Aetna
announced in June, that due to financial risk including the uncertainties
within the ACA individual marketplace, they will no longer offer individual
health insurance products in Virginia beginning January 1, 2018. Aetna
will remain a group health insurer in Virginia with a focus on self-funded
products. Please contact me with any questions.
Questions? Contact: Monty Dise, President
Asset Protection Group, Inc.
804-423-7700
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 Documenting Text Conversations For a growing number of clients, email is simply too inconvenient and too slow. Their preference is to communicate with you using a text conversation. Agencies need to be able to respond to this customer preference by embracing text conversations as a viable communication option.
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InsurBanc's Chief Lending Officer Robert Pettinicchi recently contributed an article to "Insurance Journal" where he shared four industry observations and four action items every insurance agency principal should take. How has the merger and acquisition environment changed and what impact will rising interest rates have on valuations? Read the article as Bob describes his insight on the industry and the best steps agency owners should take today.
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 Several recent high profile cases, followed nationally, have been described as "he said/she said" cases — and with good reason. It is often said that eye witness testimony is the most unreliable form of evidence. I agree and you really do not want to defend an E & O case on such a precarious basis.
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 After almost 37 years as an Independent Agent, Chris Archer of C.W. Archer Insurance Agency has retired. The agency joined the IIAV shortly after opening.
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