Happy Wednesday! In this week's Big I Buzz we are discussing InsurCon2024, a celebration of 125 years of the IIAW, and how to thrive in this historically hard insurance market.

InsurCon2024 - Celebrating 125 Years of the IIAW
Join us on May 15th & 16th, 2024 as we celebrate our 125-year anniversary at our annual convention, InsurCon, a once-in-a-lifetime event set against the breathtaking backdrop of Lambeau Field. As Lambeau Field opens its doors exclusively for our 125th anniversary, you’ll experience its legendary aura like never before. With cheers of the past, the energy of the present and the promise of the future - all converge in this unforgettable celebration. An extraordinary year like this means you’ll receive more than ever with your event registration! 

VIEW INSURCON BROCHURE

Prepare for an unforgettable evening of celebration and inspiration, as we commence with an esteemed awards ceremony and a presentation from Charles Symington, IIABA CEO. We'll enjoy a delicious dinner and journey through the rich history of the IIAW over the last 125 years. Charles Woodson will lead a keynote presentation that promises to leave a lasting impact. Cap off the night with an exclusive Meet & Greet session, offering the chance to connect with Woodson up close and personal.

Registration is now open! Register Here Reserve your spot today and take advantage of our early bird pricing, ending at the end of the month! If you're an exhibitor, visit iiaw.com/insurconexhibitor to reserve your booth. Don't wait as booth space is limited.

How to Thrive in this Historically Hard Insurance Market
The current hard market, which arguably began in 2019 and was exacerbated by the COVID-19 pandemic, supply chain issues, low investment income, rising inflation, and various natural disasters, has led to a significant decrease in industry policyholder surplus and limited underwriting capacity. The impact is evident across different insurance lines:

• Auto Insurance: Some carriers are experiencing combined ratios exceeding 100%, leading to rate increases. Uninsured motorist costs have escalated.
• Homeowners Insurance: Carriers are facing challenges from windstorms and wildfires, with some condo owners experiencing substantial premium increases.
• Commercial Lines: Affordability issues are noted in the habitational marketplace, with significant underwriting losses reported.

A hard market brings challenges and opportunities. Smart agents can address issues like retaining customers, avoiding E&O claims, and dealing with unethical behavior. On the positive side, there are opportunities to gain new business, increase revenue, and invest in improved services for future challenges. Policyholders face unpredictable budgeting accuracy and escalating, sometimes unaffordable, insurance costs. Insurance professionals can respond by adopting risk management and financing strategies beyond traditional approaches. Read the full article here

Give Back During the Holidays - IIAW Emerging Leaders Volunteer Event at Hunger Task Force in Milwaukee.
This year we are organizing a group volunteer outing at Hunger Task Force in West Milwaukee. We will be packing stockboxes which are boxes of healthy non-perishable foods for low-income seniors. This takes place at their warehouse at 5000 W. Electric Ave., in West Milwaukee. Must be able to lift 30 lbs.

Register to Volunteer Here