Happy Wednesday! It's hard to believe that today is already the last Wednesday in February. We might be moving closer to spring on the calendar, but we're still dealing with winter storms.

This ties into our first topic of today's Big I Buzz: Insurance Commissioner Nathan Houdek has shared tips and reminders for Wisconsinites who may have experienced property damage as a result of the recent winter storm. You can share this news release with your clients! 

Remind your clients that they should notify you about winter storm damage to begin the claims process. Additionally, the experts at OCI have recommended these tips as they respond to storm damage: 

"1. Make a list of damaged items, including cracks in walls, missing shingles, spoiled food due to a power outage, etc.

  2. Take photographs of the damages before you begin to clean up. 

  3. Don't throw out any damaged property without the claim adjuster's agreement." 

You can read the full OCI press release here. 

New Strain of Bird Flu Related to 2015 Virus

Next up for discussion is the new bird flu strain. While we're still hearing headlines about COVID-19, there are a few stories coming out about a new bird flu strain. 

A new discover has found that there's a virus infecting a commercial turkey flock in Indiana. This has caused a fear of a repeat of 2015's bird flu outbreak that killed 50 million birds across 15 states. Related to the 2015 virus, the new strain is H5N1 and has been identified in Europe, Asia and Canada before being seen in the U.S. According to Insurance Journal, "U.S. surveillance efforts have identified the virus in wild birds in recent weeks in New Hampshire, Delaware, North Carolina, Virginia, Florida and South Carolina, making it apparent that this is in the environment broadly.... Producers who want to ensure eligibility for government indemnity payments in case of disaster must have a biosecurity protocol on hand that is updated regularly. To help with that, the USDA has developed a 14-point biosecurity plan for producers, which is audited yearly and reviewed every two years by state agriculture agencies, said Dr. Yuko Sato, a veterinarian and assistant professor in the Department of Veterinary Diagnostic and Production Animal Medicine at Iowa State University." You can read more here. 

Is This the Biggest Test for the Wholesale Insurance Market? 

Last up on our discussion for the day is a recent podcast from Insurance Business Talk. The episode discusses the importance of building durable, trusted partnerships for navigating new and emerging risks in an increasingly complex and dynamic marketplace. Tune in to hear more about how commercial insurance distribution is evolving and the importance of identifying new pathways to grow in the wholesale marketplace. Click here to access the podcast. 

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.

Good morning and happy Wednesday! In this week's Big I Buzz, we are discussing our new monthly newsletters and changes to Big I Buzz, emerging risks to watch this year and how to keep homeowners covered this Super Bowl Sunday. 

Don't Miss Out on our Monthly Newsletters

Starting next Monday, the IIAW will be sending out monthly newsletters with content curated just for you and your job role. We'll be putting together four monthly newsletters, and you can choose which newsletters best fit your role! You can choose from the following areas to receive our monthly newsletter: personal lines, commercial lines, employee benefits or industry relations and operations. Make sure you and your team are on our list to receive these communications here. We'll be including information tailored specifically to you and your job role, education opportunities that matter to you and other industry insights that you won't see anywhere else. 

We'll continue to send out our weekly Big I Buzz, but with a twist. Now, we'll be segmenting the Action News section between these four categories. You'll get the same news stories you know and love, but instead of in one jumbled section, you can read the news that matters to you! Then, in each of the monthly newsletters, we'll highlighted the most-read news article from your interest area in case you missed it the first time. 

Don't forget to sign up today! The first Personal Lines monthly newsletter will go out next Monday, February 14th, Commercial Lines will receive their newsletter on Monday, February 21st, Employee Benefits on Monday, February 28th and Industry Relations & Operations will receive their newsletter on Monday, March 7th. 

Emerging Risks to Watch this Year

Insurance Journal has examined 10 industry sectors to identify new and emerging risks for the year ahead and beyond. Watch these sectors and read more about why you should keep an eye on these risks: 

1. Cyber - with an increase in ransomware attacks, there are more cyber threats to be expected throughout 2022. 

2. Political Risk - Social media users taking to social media has increased large-scale demonstrations and protest movements, which could lead to an increase in property damage losses. Additionally, larger and more frequent natural disasters due to climate change can displace vulnerable populations and disrupt economics, which could lead to more political instability and violence, according to Insurance Journal.

3. Telemedicine - As more and more patients turn to telemedicine, plus an expected increase in telemedicine in 2022, health care providers can expect to see an increase in medical professional liability claims. According to RPS, these claims related to telemedicine has been "historically low", but the broker expects growth in the telemedicine segment will lead to more incidents."

4. Product Liability -A report from Willis Towers Watson's "Insurance Marketplace Realities 2021 Spring Update" stated "The pandemic has dramatically increased then umber of companies manufacturing, distributing and selling COVID-19 products, which has in turn increased the demand for life sciences insurance coverage.... Underwriters in the life sciences space have been "inundated" with policy submissions. And while capacity hasn't changed, carriers are being more selective about which risks they will entertain."

5. Mobility & Transport - Transportation continues to change as it's disrupted by the pandemic and technology. According to Insurance Journal, "The emergence of new digital companies that provide “wheel-based” services has accelerated the demand and growth of gig workers during the pandemic, Marsh said in a recent report titled “Mobility in a post-pandemic world: From evolution to revolution.”

Marsh said these trends will rapidly evolve for at least the next year, but insurance products designed to protect the income of these workers are lagging behind."

6. Entertainment -2020's overwhelming amount of event cancellations led to major losses for insurers and rates have risen across the board. While we are seeing a return for live entertainment, there's a shortage of experienced workers which could increase the potential for accidents and cancellations, according to a recent report by HUB International.

7. Commercial Real Estate - The future of office real estate is largely unknown and the insurance market for some multifamily classes remain a challenge, according to Insurance Journal. 

8. Management Liability - In 2021, the overall public company D&O marketplace continued to stabilize due to a significant decrease in federal securities class actions. "While pricing challenges remain for many D&O buyers, new capacity and new competition are finally on the way with new entrants to the D&O insurance market, according to Woodruff Sawyer's 2022 D&O Looking Ahead Guide."

9. Employer Liability - "Another situation to watch: in the face of resistance to vaccine mandates in the U.S., there may be an increase in retaliation and discrimination claims under the Americans with Disabilities Act and Civil Rights Act of 1964 (specifically, for religious discrimination), USI stated in its recent 2022 Commercial Property & Casualty Market Outlook.

10. Nonprofits - Nonprofits have experienced overstretched resources due to the pandemic. Their workforce took a significant hit but researches estimate the sector may not see a full return to pre-pandemic workforce levels until fall 2022. 

Read more here. 

Super Bowl Sunday - Keeping Homeowners Covered

Super Bowl Sunday is almost here and we are ready for football (and commercials)! Ken Gregg, CEO and founder of insurtech platform Orion180 shared that the biggest risk for party hosts surrounds liability. "Guests can potentially fall down the stairs, trip on something, or worse, get in their car to drive home under the influence," he said. "Many homeowners don't consider their exposures when hosting a party."

Ken suggests that brokers and agents should focus on communicating liability risk mitigation strategies with their clients. You can use your social media channels to get the message out to some clients. Share information about guest safety when hosting parties and encourage homeowners to reach out so they know what their insurance will cover. Read more 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.

Happy Wednesday! In this week's Big I Buzz, we are discussing the in-person IIAW Emerging Leaders event happening in February, new travel insurance regulations and the new update on Biden's COVID-19 shot-or-test rule for workers at large employers. 

IIAW Emerging Leaders Broken Bat Beer, Pizza and Wiffleball Event

Come meet the IIAW Emerging Leaders and learn more about how this committee values professional development, networking and giving back to the community. Join us February 24 from 3:30 to 7 p.m. at the Broken Bat Brewery in Milwaukee! We'll be enjoying Broken Bat beer, ordering pizza, networking and playing wiffleball. From 3:30 to 5:30, we'll be renting out their indoor wiffleball field and through the entire event, we'll have their private "Outfield" available for our networking event. All agents, carriers, brokers, vendors and other working int he independent insurance agency channel are welcome! Register for the event here: https://www.iiaw.com/event/wiffleball 

Biden's Shot-or-Test Rule Abandoned After Supreme Court Loss (2)

On January 13, the U.S. Supreme Court in a 6-3 decision stated that OSHA could not enforce the shot-or-test mandate. OSHA's temporary mandate would  have required most employers with 100 or more workers to either require employees be fully vaccinated or pass at least weekly COVID-19 tests. An announcement on Tuesday noted that the Biden administration is withdrawing its COVID shot-or-test rule for workers at large employers following the block from the Supreme Court on January 13th. Now that this withdrawal has been announced, OSHA has stated that they will continue to work on permanent COVID-19 standards. According to Bloomberg Law, "The decision to withdraw the temporary standard doesn't prevent OSHA from continuing to pursue a permanent version of the vaccination and testing standard, said Alka Ramchandani-Raj, a shareholder with Littler Mendelson P.C. in Walnut Creek, California, and co-chair of the firm's workplace safety and health practice. For permanent rule, OSHA wouldn't need to prove there was a "grave danger" since the grave danger threshold only applies to emergency temporary standards." Read more about the regulation update here. 

Wisconsin Updating Travel Insurance Regulations

Starting March 1, 2022, Wisconsin's travel insurance law will put regulations in place for 'travel retailers'. According to NU Property Casualty 360, "Wisconsin's travel insurance law will classify travel insurance as part of inland marine lines as well as accident and health lines if the policy includes sickness and disability coverage, according to the state's office of insurance." The OCI reported that the law will prohibit the use of "negative option" or opt-out processes that require a traveler to take an affirmative action to decline coverage when buying a trip.

NU Property Casualty 360 lists these as the rules for 'travel retailers':

"Business entities that offer travel services can now "offer and disseminate" travel insurance in Wisconsin under the licenses of a travel insurance producer if they adhere to the following guidelines: 

• The purchaser of travel insurance is provided required information such as a description of the material terms and the process for filing a claim.

• The limited lines travel insurance producer keeps a register of each travel retailer that offers and disseminates travel insurance on the producer’s behalf.
• The limited lines travel insurance producer designates an employee who is a licensed producer as the person responsible for compliance with the statutes and rules of this state.
• The designated responsible employee, the officers of the limited lines travel insurance producer, and any other person who directs or controls the limited lines travel insurance producer’s insurance operations complies with insurance intermediary fingerprinting requirements.
• The limited lines travel insurance producer pays all applicable licensing fees.
• The limited lines travel insurance producer requires each employee and authorized representative of the travel retailer whose duties include offering and disseminating travel insurance to receive a program of instruction or training.

The law stipulates that travel retailers, or their employees and authorized representatives, which are not licensed limited line travel insurance producers can’t take the following actions:

• Evaluate or interpret technical terms, benefits, or conditions of travel insurance coverage.
• Evaluate or provide advice concerning a prospective purchaser’s existing insurance coverage.
• Hold himself or herself out as an insurer, a limited lines travel insurance producer or an insurance expert.

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.

Happy Wednesday! In this week's Big I Buzz we are discussing predicted telehealth risks for the year, how to get an at-home over-the-counter COVID test and cryptocurrency crimes. 

Viewpoint: Telehealth Risks and Predicted Impacts for 2022

COVID-19 has changed the way we do a lot of things and healthcare is at the top of the list. Many doctors' offices adopted telehealth. Claims Journal defines telehealth as, "The delivery and facilitation of health-related services via telecommunications and digital communication technologies." Despite the conveniences of telehealth, there are some risks involved. According to Claims Journal, "Legal experts predict that the volume of virtual care lawsuits will increase as telemedicine becomes and increasingly common way for patients to access healthcare... For example, a report from Quest Diagnostics said that 67% of the primary care physicians they surveyed were concerned that they missed signs of patient drug abuse during the pandemic. Only 50% of survey respondents were confident they could recognize signs of drug misuse during telehealth visits, compared to the 91% that said the same of in-person patient interactions." Claims Journal checked in  with malpractice experts' to get their prediction of telehealth impacts for the year: their prediction was that as telehealth becomes more prominent, we will see an increase in claims resulting from lack of clarity around provider accountability, missed and delayed diagnosis and missteps in care transitions. Read more about the risks and predictions for 2022 here. 

How to Get Your At-Home Over-the-Counter COVID-19 Test for Free

As the omicron variant causes COVID spikes across the country many people are looking to get tested. Testing facilities are facing longer lines than usual, which can make the wait for a COVID test and results longer than hoped for.

So, how can you get your at-home over-the-counter COVID-19 test for free? Starting January 15, mots people with a health plan can go online, or to a pharmacy or store to purchase an at-home over-the-counter COVID-19 diagnostic test authorized by the FDA at no cost, either through reimbursement or free of charge through insurance. 

Do you have to submit your test for reimbursement or can you walk in and pick up at-home OTC tests for free? It depends on your plan. If you are charged for an at-home OTC test after January 15, you can keep your receipt and submit a claim to your insurance company for reimbursement. According to CMS.gov, "If  your plan has not set up a network of preferred stores, pharmacies and online retailers at which you can obtain a test with no out-of-pocket expense, you will be reimbursed the amount of the cost of the test. For example, if you buy a two-pack of tests for $34, the plan or insurer would reimburse $34. If your plan has set up a network of preferred stores, pharmacies and online retailers at which you can obtain a test with no out-of-pocket expense, you can still obtain tests from other retailers if you buy them outside of that network. Your plan is required to reimburse you at a rate of up to $12 per individual test (or the cost of the test, if less than $12). Save your receipt(s) to submit to your plan for reimbursement at a rate of at least $12 per individual test (or the cost of the test, if less than $12). 

You can read more about getting an at-home over-the-counter COVID test here. 

Cryptocurrency Crime Hit Record $14 Billion in 2021: Research

Blockchain researcher Chainalysis said that crime involving cryptocurrencies hit an all-time high of $14 billion in 2021. According to their report, Crypto received by digital wallet addresses linked to illicit activity including scams, darknet markets and ransomware jumped 80% from a year earlier. The activity represented just 0.15% of total crypto transaction volumes, its lowest ever. Overall volumes soared to $15.8 trillion in 2021, up over five-fold from a year earlier. Insurance Journal reported that, "Driving the increase in crime was an explosion of scams and theft at decentralized finance - DeFi - platforms, Chainalysis said. DeFi sites - which offer lending, insurance and other financial services while bypassing traditional gatekeepers such as banks - have been plagued by problems that include flaws in underlying code and opaque governance." Read more about cryptocurrency crime in 2021 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.

Happy Holidays! This is the final Big I Buzz for the year, and we are covering a LOT! 

First, as a reminder, we will be closed on December 24, December 27, December 30 and December 31 for the holidays. If you have any questions arise during this time, feel free to send an email to our general inbox, info@iiaw.com. 

Sign up for Catalyit Now Before the Subscription Window Ends! 

Access to Catalyit's Full Access Subscription is only available 4 times a year, and their subscription window closes THIS FRIDAY and won't open again until next year. Sign up now at catalyit.com. IIAW members get a free basic subscription. What's Catalyit? Catalyit.com is a website created by Steve Anderson and several Big I state associations that bring all the agency tech guidance you need... in one place. Behind the login button, you'll enter a world crafted to help you discover, evaluate, select and implement tech. This includes: 

• Tools - The Catalyit Success Journey™, and our in-depth tech assessment, provide you with a custom roadmap for success.

• Guides & Reviews: Our topic guides share insights, help you compare solutions in minutes, and include reviews. 

• Training: From live coaching and Q&A sessions to our on-demand video vault, you'll be able to get the most out of your tools. 

• Community: Discuss trends, best practices and challenges with peers, experts and providers. 

• Consulting: Need custom, one-on-one support? Our team of experts can work directly with your agency. 

Your new basic subscription grants you access to a lot of this great content. once you're ready, upgrade to Full Access to unlock everything! But don't wait too long - the option to subscribe to Full Access closes on Friday, December 17th. Learn more at catalyit.com. 

Holiday Social Media Posts: 

As you're preparing for time off, we've put together a few social media graphics that you can share on your own pages to make your holiday marketing a little easier! How to save: right-click and save image as to save it to your desktop. 

Suggested Copy: Merry Christmas from the _____ team!

Suggested Copy: The New Year is the perfect time to review your insurance policies to make sure you have the coverage you need. Need help? Contact us at ___________. 

Suggested Copy: Will you be traveling for the holidays? 109.5 million Americans are planning to travel to their holiday destination. We are wishing everyone safe travels as they celebrate the holiday season. 

In addition to these graphics, you can also use any of the Trusted Choice graphics to help spruce up your social media posts! They have holiday and winter focused graphics that you can download to use on your pages.  Head over to the IIAW Facebook page, and feel free to share any of our posts onto your own page too!

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.