Happy Cinco de Mayo! In today's Big I Buzz, we are discussing how COVID impacts insurance, the cause for most on-the-job vehicle accidents and the 2020 tourism decline in Wisconsin.

How COVID Impacts Insurance in Unforeseen Ways

The COVID-19 pandemic has impacted virtually all aspects of the insurance industry, most of the impacts will continue to alter the insurance landscape for years to come. In personal auto lines, claim frequency plummeted due to the lockdown, as many people who ventured out during the first six months of the pandemic were greeted with mostly abandoned roads and highways compared to pre-pandemic traffic. According to Insurance Information Institute estimates, property damage frequency was down more than 30%, while severity was up by almost 20%. 

While personal auto lines claim frequency plummeted, dog ownership spiked. Insurance Journal states that this a growth opportunity for the pet insurance market, but at the same time it could cause an increase in dog-related liability claims.

"The pandemic has also changed the way insurers do business, from underwriting to claims. While digitization was an industry priority before COVID, the pandemic accelerated the transition," according to Insurance Journal. If you're looking for tech guidance, head to Catalyit.com. Catalyit simplifies technology for insurance agencies. While you wait for Catalyit to launch, get on their email list to receive Catalyit's Top 10 Tech Tips in your inbox. You'll also be one of the first to know when their free assessment is available! 

Distracted Driving at Hand in Most On-the-Job Vehicle Accidents

Motus, a workforce platform and software provider reports the top three causes for accidents on the job.

1. 74% of vehicle accidents on the job were caused by distracted driving

2. 31% of on the job incidents were caused by speeding

3. 18% of on the job incidents were caused by driving under the influence

According to Property Casualty 360, "Motus noted in its report that while discouraging the use of mobile devices among workers should be an easy step in reducing risk, at times, upper management will argue that salespeople should be engaging clients on sales calls and teleconferences during long drives. This effectively "encourages more screen time," the report stated." Read more about the report here. 

Wisconsin's Tourism Industry Sees 30 Percent Spending Decline in 2020 Due to COVID-19

Wisconsin's tourism industry was hit particularly hard by COVID, causing a nearly 30% direct spending decline. In 2019, statewide tourism was about a $13.6 billion dollar industry, but in 2020, that number had dropped to about $4 billion dollars, according to the Wisconsin Department of Tourism. 

Despite the tourism decline in 2020, officials are optimistic about a rebound in 2021, reporting the first four months of the year are shaping up to be better than 2019. Wisconsin Public Radio reports, "National research shows 87 percent of Americans plan to travel in the next six months and plan to spend more money, Acting Tourism Secretary Anne Sayers said. Dane and Milwaukee counties, which rely heavily on tourists for sports, cultural events, conventions and business travel, were the hardest hit in the state. Direct spending was down last year 39 percent in Dane County and 42.5 percent in Milwaukee County, compared to 2019, according to the Department of Tourism."

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. Don’t forget you can stay up-to-date on other industry news as its happening on our Online Community. You can join the Online Community (exclusive to IIAW members) here. We hope that everyone has a great rest of their week.

Happy Wednesday! In today's Big I Buzz, we are discussing how highly digital agencies grow faster than their competition, new OSHA regulations and the Wisconsin Supreme Court's new ruling on capacity limits.

Study: Highly Digital Agencies Grow 60% Faster than the Competition

According to NU Property Casualty 360, "A recent survey of 600 U.S.-based independent agents from Liberty Mutual and Safeco Insurance sought to understand how independent agencies are evolving to meet new expectations. The results, published in the "Rise of the Digital Insurance Agency" report found that digitally-saavy agencies grow an average of 60% more than their less digital counterparts."

The study also found that 44% of high digital adopters experience annual revenue growth of more than 10% compared to just 29% of low digital adopters that also experienced revenue growth. 

The report noted that agents are finding value in digital marketing, which added that more than 80% of high digital adopters plan to increase their digital marketing efforts within the next year. 

If you're looking to also increase your digital marketing efforts, check out the IIAW's Digital Marketing Playbook to get some insight into how to get started with digital marketing!

OSHA Prepares to Issue Emergency Regulations to Protect Workers from COVID-19

The federal Occupational Safety and Health Administration (OSHA) is preparing to issue new short-term regulations to protect workers from catching COVID-19 on the job, according to lawyers tracking the agency's efforts. The Biden administration appears poised to reinstate masking, as some states are removing their mask mandates. According to Insurance Journal, "Most private-sector employers in the U.S. must follow rules for workplace safety set either by OSHA or by state-run versions of the agency. OSHA and its state counterparts have received over 60,000 complaints about COVID-19 safety issues, according to the agency." During the Trump administration, OSHA did not release virus-specific safety regulations so instead, a handful of states established their own temporary standards. "Employers with jobs that are medium or higher risk must follow specific policies to ensure social distancing and clean air. They must also develop written plans for how they'll respond to an infections disease outbreak and provide training to employees on COVID-19. The question now is what the details of the federal version of this will look like. Vance and Conn anticipate a stringent face-covering requirement, particularily indoors." Read more here.

Wisconsin Supreme Court Says Governor Can't Limit Capacity

The Wisconsin Supreme Court has now ruled that Gov. Tony Evers' administration does not have the authority to issue capacity limits on bars, restaurants and other businesses without approval of the Legislature. The 4-3 decision was issued Wednesday in Tavern League of Wisconsin v. Andrea Palm and Wisconsin Department of Health Services. It upholds a ruling from the Court of Appeals in favor of the Tavern League. According to the Tavern League, DHS did not follow proper rulemaking procedures and obtained an injunction against the emergency order." Read the full decision 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. Don’t forget you can stay up-to-date on other industry news as its happening on our Online Community. You can join the Online Community (exclusive to IIAW members) here. We hope that everyone has a great rest of their week.

Happy Wednesday! In this week's Big I Buzz, we are discussing today's ruling from the Wisconsin Supreme Court, we are announcing tech solution, Catalyit, and the behavioral changes to driving during the pandemic. 

Wisconsin Supreme Court Strikes Down Statewide Mask Mandate

Today (Wednesday, March 31st), the Wisconsin Supreme Court blocked Gov. Tony Evers from issuing any new public health emergency orders to mandate face masks without the approval of the Wisconsin Legislature. The statewide mask mandate was set to expire on Monday, but now ends immediately following the ruling. According to the Milwaukee Journal Sentinel, "The nonpartisan Legislative Fiscal Bureau told Wisconsin lawmakers in January that the state's FoodShare program could lose its extra funding of about $50 million a month if the state's emergency were extended." Read more here.

Introducing Catalyit!

The IIAW is proud to announce tech solution, Catalyit! Catalyit is simplifying technology for insurance agencies. The number of ways that you can leverage tech to increase profits and serve customers is nearly unlimited. Catalyit offers tools, guides & reviews, community, training and consulting to give you all the agency tech guidance you need in one place. Learn more about Catalyit by heading to their website www.catalyit.com. If you sign up for their email list, you'll receive their Top 10 Tech Tips today, and you'll be the first to hear when their free assessment is available. 

Catalyit is launching in June 2021! Click here for more details.

Distracted Driving Behaviors Increased During Pandemic

According to Insurance Journal, one in four drivers think that roads are safer today than they were before the pandemic, yet a growing number of drivers are texting or emailing while driving - in part as more of them feel pressured to be available for their jobs wherever they are."

A national survey of more than 1,000 consumers and business managers was conducted for the 2021 Travelers Risk Index on distracted driving. Respondents reported on their dangerous driving behaviors including: 

• Texting or emailing (26%, up from 19% pre-pandemic)

• Checking social media (20%, up from 13% pre-pandemic)

• Taking videos and photos (19%, up from 10% pre-pandemic)

• Shopping online (17%, up from 8% pre-pandemic)

Travelers reported that such driving behaviors may have contributed in part to more hazardous road. According to the National Safety Council, "Motor vehicle deaths were up 8% in 2020 from 2019 - the highest percentage increase in 13 years." Read more about the findings from the 2021 Travelers Risk Index 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. Don’t forget you can stay up-to-date on other industry news as its happening on our Online Community. You can join the Online Community (exclusive to IIAW members)  here. We hope that everyone has a great rest of their week.

Happy St. Patrick's Day! In this week's Big I Buzz, we are discussing InsurCon2021, how renovations made during the pandemic could impact home insurance and record amount of debt Americans paid off in 2020.

Save the Date for InsurCon2021

Join us August 10-11 at the Kalahari in Wisconsin Dells for InsurCon2021. We are looking forward to seeing you all for this safe, in-person event, as well as welcome our keynote speaker, Hall of Fame quarterback, Joe Theismann. Safety is at the top of our mind, and we will be following all guidelines outlined by the Kalahari, the Wisconsin Department of Health Services and the CDC. The Kalahari's new convention center gives us the space to follow all safety precautions, while still being able to enjoy this amazing event. We have a great lineup of speakers for this year's event! In addition to Joe, we'll also be welcoming Beth Ziesenis and Bill Pieroni. Beth, aka Your Nerdy Best Friend will provide a light-hearted, entertaining look at tools and apps that will help you increase efficiency. Bill will offer an in-depth, yet enthusiastic, discussion of the independent agency carrier arena. We are looking forward to seeing you all in-person this summer! Head to our website for more information and to register today. 

Renovations During Pandemic Could Impact Home Insurance

According to NerdWallet, three out of every five homeowners did a home improvement project during the first half of the pandemic. Turning a bedroom into a home office likely won't have an impact on home insurance, but other remodels that have become popular during the pandemic could. According to 10 News San Diego, "Renovation insurance is something to consider to cover expensive materials or unexpected issues that might come up during a project. Backyard pools have become a hot commodity as well. Some home insurance companies see them as added liability, which could increase your premium. They may also require fences or other security features. 

"When you think about removing fireplaces, security systems, upgrading electricity or plumbing, those are things that in a big way can improve your home. And then, if you think about the roof as one of the biggest things that's going to protect your home from weather or other elements," said Stephen Kates, a certified financial planner and analyst at Bankrate. None of these changes should drastically change your home insurance policy unless you've done a total gut of the home. 

Americans Paid Off a Record $83 Billion in Credit Card Debt in 2020

While COVID brought many hardships, for some people this has led to better budgeting. While being forced to stay home, consumers have been paying down debt and saving more than they have in decades. Along with this, many are leveraging low interest rates to refinance and lower their monthly bills. According to a Credit Card Study by WalletHub, Americans repaid almost $83 billion in credit card debt during 2020. The study also found that by the end of last year, the average household credit card balance fell to $8,089. Many experts expect a surge in spending once people are vaccinated and COVID-related restrictions are lifted. 

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. Don’t forget you can stay up-to-date on other industry news as its happening on our Online Community. You can join the Online Community (exclusive to IIAW members) here. We hope that everyone has a great rest of their week.

Happy Wednesday and welcome to the month of March. In this week's Big I Buzz, we're discussing a few upcoming events that you won't want to miss, how insurance agents can avoid being victims to hackers and the Join Task Force on Payroll Fund and Worker Misclassification's recommendations for Gov. Evers. 

Upcoming Events to Put on Your Calendar NOW:

InsurCon2021 - August 10-11, 2021

Join us August 10-11 at the Kalahari Resorts & Convention Center in Wisconsin Dells for our safe, in-person convention.The Kalahari is home to Wisconsin's largest indoor waterpark and brand new events and convention center. You won't want to miss our keynote speaker and Hall of Fame quarterback, Joe Theismann! Our other amazing speakers include Beth Ziesenis and Bill Pieroni.

Beth Ziesenis

Beth, a.k.a. your nerdy best friend, has authored six books, and she keeps up with the latest technology to educate and entertain attendees with the fast-changing world of technology.

Bill Pieroni

Bill is the President & CEO of ACORD, the standards-setting body for the global insurance industry. His career has spanned technology, operations and top executive roles at several top insurers, brokers and consulting firms. Bill's areas of particular expertise include digitization, change management and the strategic and capability imperatives for a high performance in the insurance industry.

We will be following all safety guidelines outlined by the Kalahari, the Wisconsin Department of Health Services and the CDC. As guidelines evolve as we move closer to the event, we will be clearly communicating any requirements or changes as we approach InsurCon2021.

Registration will be opening soon! Keep an eye out as we continue to release new information about the schedule of events. If you have any questions about InsurCon2021, please visit iiaw.com/insurcon2021. Exhibitors can reach out to our Membership & Event Coordinator, Andrea Michelz, (andrea@iiaw.com) for more information. 

Big "I" Virtual Legislative Conference - April 13-16, 2021

The Big "I" has your back, especially in uncertain times. While you are helping your clients, the Big I team is working around the clock to protect your industry. Join us from the comfort of your computer or mobile device, and get up to speed on the many legislative, regulatory and legal challenges to your profession happening now. Hear from legislators, carriers and industry leaders and walk away with a plan to help you lead the way and protect your industry. 

Schedule of Events: 

Tuesday, April 13th at 1 p.m. CST:
Congressional Leaders: Agenda for Small Business

Wednesday, April 14th at 1 p.m. CST:
Legislative Update: A Briefing from the Hill

Thursday, April 15th at 1 p.m. CST: 
Capitol Hill: Messages from the Middle

Friday, April 16th at 1 p.m. CST: 
Conversations: Industry Leaders and National Commentators

Hackers Targeting Insurance Agents

There has been an increase in the number of insurance agents being targeted by online hackers. According to Steve Anderson, "Hackers have been systematically tracking and collecting the email addresses of insurance agency employees. They are now targeting the passwords used by insurance agency employees, and data shows that in some cases, passwords can be acquired. When successful, hackers can access the quote applications. Phishing emails are sent to consumers using false company identity, email addresses and insurance company logos to collect additional information." 

Steve recommends taking these steps to avoid hacking, 

Agencies should use a password management program for every computer in the office (or at home for remote workers), so that every employee can have a complex and unique password for every site. 

Next, inform employees of the potential for suspicious emails. Before anyone clicks on a link, they should understand where the link will actually lead to. "In Outlook, you can do this by hovering your mouse over the link. A small pop-up will show the actual link address. If it looks suspicious, delete it," Steve says. 

If the link looks legitimate, you can then type the link address into your browser rather than clicking the link within the email. 

Finally, head to the IIABA's website to download the latest Agency Cyber Guide to forward to all of your employees. Follow-up with a short meeting to emphasize the importance of protecting client information. For more information click here. 

2021 Joint Enforcement Task Force on Payroll Fraud and Worker Misclassification Report

The Joint Task Force on Payroll Fraud and Worker Misclassification submitted its annual 2021 report with a series of recommendations to Governor Evers this week. A number of recommendations, including establishing an Insurance Fraud Bureau, would impact Workers' Compensation and would require the Legislature to pass enabling legislation in order for them to be enacted into law. It remains to be seen whether the Legislature will act upon recommendations from the report. For a full list of task force recommendations, head to page 8 of the report 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. Don’t forget you can stay up-to-date on other industry news as its happening on our Online Community. You can join the Online Community (exclusive to IIAW members) here. We hope that everyone has a great rest of their week.