Happy Wednesday, we are almost to the halfway point through November which means we are quickly speeding into the holiday season. On this week's Big I Buzz we are discussing the possibility of a new COVID-19 vaccine, where Gov. Evers' capacity limits currently stand and how social movements and COVID-19 have affected the EPLI market.

First, before we dive into the news from the past week, we want to call out a great fundraising effort from our Emerging Leaders. Last year, the IIAW Emerging Leaders Committee collected gifts for children receiving care at the Children's Hospital during the holidays. Unfortunately, due to COVID-19, the hospital cannot accept in-kind gifts so instead our Emerging Leaders Committee is making donations to the Child Life Department Fund to purchase gifts for patients throughout the year. Please join us in contributing to this great cause - every bit helps! You can donate here. 

Pfizer Vaccine Trial Success Signals Breakthrough in Pandemic Battle

According to Reuters, "Pfizer Inc's experimental COVID-19 vaccine is more than 90 percent effective based on initial trial results, the drugmaker said on Monday, a major victory in the war against a virus has killed over a million people and battered the world's economy." On Monday, November 9th, we saw the Dow soar 1,500 points after a weekend full of news about the potential for a vaccine from Pfizer, the election and a potentially split Senate. The vaccine had an immediate impact on the market. Learn more about the vaccine trials here. 

Wisconsin Supreme Court Sends Virus Capacity Limits Case to Lower Court

According to Insurance Journal, on November 4th, the Wisconsin Supreme Court declined to consider reinstating Democratic Gov. Tony Evers' coronavirus restrictions limiting the size of public gatherings deferring to a lower court to decide. Evers' administration issued an order in early October that limited the size of indoor public gatherings to 25% of a building or room's occupancy or 10 people in places without an occupancy limit. The powerful Tavern League of Wisconsin filed a lawsuit challenging the order, arguing it would drive bars and restaurants out of business. A Sawyer County judge blocked it on Oct. 14, only to have a Barron County judge reinstate it five days later. That sparked an appeal from The Mix-Up bar in Amery and Pro-Life Wisconsin, which argues that the capacity restrictions limit its fundraising gatherings. Learn more about Gov. Evers' restrictions here. 

A Changed Landscape: EPLI in the Age of COVID-19 and Social Movements

Headlines regarding social movements and COVID-19 are dominating the headlines in the business environment. According to the Independent Agent Magazine, "As states introduce legislation and rules protecting potential victims, the employment practices liability market is feeling the impact. "We have a lot of states that are enacting separate laws to govern the employee-employer relationship," says Joe Kelly, senior vice president, employment & ERISA liability national practice leader, Sompo International Insurance. "Add to this the ramifications of COVID-19, and we have the perfect storm for the EPLI market."

How will this impact the future? According to the Independent Agent Magazine, "Carries are not looking to take on a lot of extra employer risk right now; some are not even offering terms...For independent agents, making an early start on acquiring the coverage your client is looking for is key." Read more about how COVID-19 and social movements are impacting the EPLI market here. 

For more news, check out the Action News section of our weekly e-newsletter Big I Buzz. If you aren't subscribed, click  here to add your email to our emailing list. We hope that everyone has a great rest of their week!