Big I Virginia E-News

 

Thank you, Sherry Beachum from S L Nusbaum Insurance Agency in Norfolk, VA, for your contribution of $250 to VAPAC! 

Effective July 1, 2025, IIAV will have new leadership for the association. Members on the IIAV ballot are the following agents. They will be installed at the upcoming convention in Virginia Beach. IIAV member agencies should look for an email ballot to be sent to agency primary contacts late May, early June. 

May is Mental Health Awareness Month, a time to spotlight the importance of mental well-being in the workplace. For business and HR leaders, it isn’t just a once-per-year conversation. Workplace mental health and wellness impact all aspects of your business: performance, culture, retention, and the bottom line. Additionally, the company's reputation and employer value proposition (EVP) are built over years, sometimes decades, yet can be easily damaged in minutes if employee well-being is neglected. In today’s landscape, prioritizing employee mental health isn’t just a “people issue.” It's a business necessity.

One of the biggest challenges independent agencies are battling during the hard market is staff burnout and churn, which leads to hiring difficulties, a never-ending onboarding and training cycle, and reduced productivity and job satisfaction. 

The E&O Guardian website has an updated list of popular checklists available to download. These checklists cover topics such as business income, commercial lines coverage, contractual review, crops, personal lines coverage and much more. Besides new checklists, the E&O Guardian website also has a plethora of articles, webinars, downloadable guides, declination forms and other resources available. There is no charge to access E&O Guardian; it is provided as a Swiss Re policyholder and Big “I” member benefit. While some content is available to all members, certain exclusive resources are reserved only for Swiss Re policyholders. Simply log in to E&O Guardian with your Big “I” username and password to access these resources today. 

Important Filing Information: The federal Marketplace Integrity and Affordability Proposed Rule may have implications on plan year 2026 filings. The Bureau of Insurance does not anticipate any adjustment to our current filing and certification deadlines due to these proposed changes. 
Under our current deadlines: 
- Carriers may make voluntary revisions to form and binder filings until July 1, 2025, and to rate filings until July 11, 2025. 
- Filings should be compliant with current federal and state law at the time they are submitted.  We may provide further guidance or consider a revision to our deadlines later, should that be necessary. 

Question: We have 55 employees across multiple states, with some working remotely. However, we do not have 50 employees in one location. What are our FMLA obligations?

The Big “I” Agents Council for Technology (ACT) letter features insights from industry stakeholders on how people and culture impact innovation.

This year's theme is "Navigating the Waters of Insurance in a Changing World." Join IIAV for 3 days of insurance industry insights, networking and fun! We look forward to seeing you in Virginia Beach from June 22–24, 2025!