In this week's Big I Buzz, we are discussing new changes coming to IIAW Committees, how agents can adapt to the "new normal" and how major US insurers see lower coronavirus costs than expected. 

New, Exciting Changes to IIAW's Committees

The IIAW Committees are more important than ever! With the launch of our Online Community on November 1st, we will be moving our current committees online, and committees will now be called "Groups".

Group participation in our Online Community with be recognized and awarded! Earn gift certificates to your hometown restaurants, donations for your favorite local charity, IIAW swag and prizes.

If you're new to the Association or have thought about joining a committee in the past, now is the time to join as a Thought Leader on our new Online Community. A "Thought Leader" is an industry leader for topics within a Group. If you want to join a Group without being a Thought Leader, you can! Three is no limit to the number of Groups you can be a member of. The invitation to join a Group as a member and not a Thought Leader will be sent at a later date. Learn more about the Online Community, its Groups and Thought Leaders here. 

Digital, Accelerated: How Agents Can Adapt to the New Normal

With easy, instant, online buying experiences now the norm, consumers have come to expect the same from every company they do business with. COVID-19's impact on our everyday normal has accelerated the shift towards digital. Foundational tools for a digital shift internally include agencies setting up a virtual private network (VPN), investing in a cloud-based agency management system (AMS) and also, setting up a Voice over Internet Protocol (VoIP) phone system to let your staff make and receive calls from your office number even if they are working from home. Read more from Independent Agent here. 

Major US insurers see lower coronavirus costs than expected

A new Q2 2020 report of five insurers that have large US operations shows what they call a 'relatively modest $2.5 million blow'", according to analysts cited by Reuters. "The $2.5 billion loss is lower than was initially feared and the loss has been absorbed by the industry without insurers resorting to more bad tidings in the form of major claims just around the corner, considering that the coronavirus continues to spread," according to Insurance Business Magazine.

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 mailing list. We hope that everyone has a great rest of their week!

In this week's Big I Buzz we are covering Allstate's push into the independent space, pro sports players associations stance on the Senate Republican stimulus proposal and we look into the states ranked by uninsured rates. 

Allstate's $4 billion push into the independent space

Allstate has announced that it will acquire National General Holdings for $4 billion in their attempt to step into the independent agent channel. According to Insurance Business America, "There is talk that Allstate is in the middle of a major restructuring that would see thousands of staff being laid off. News of a major acquisition deal despite Allstate's alleged internal issues raises more questions than answers, and some may wonder why the insurer went through with this deal."

Pro sports players associations come out against key McConnell stimulus priority

The executive directors of the NFL, NBA, NHL Major League Baseball and Major League Soccer players associations signed onto a letter raising concerns about the liability protections included in the Senate Republican proposal introduced last week. Read more about the proposals from both the Republican and Democratic parties here. The players associations were opposing the structure of the proposal because the legislation does not explicitly provide liability protections for those who engage in willful misconduct or grossly negligent behavior, providing a tighter scope on the bill's safe harbor than the players association asserts, according to CNN. 

States ranked by uninsured rates

Becker's Hospital Review has ranked the states by their uninsured rates. This report compared uninsured rates in 2018 to rates in May 2020 with information from the U.S. Bureau of Labor Statistics and the Urban Institute. Texas ranked at the top with the highest uninsured rate in the U.S - with 29 percent of adults uninsured as of May, according to a report from Families USA. The total number of uninsured in the U.S. climbed to 21 percent due in part to layoffs tied to the COVID-19 pandemic in recent months, according to Becker's Hospital Review. Wisconsin's uninsured rate sits at 10 percent at the time of this report. 

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 mailing list. We hope that everyone has a great rest of their week!

On this week's Big I Buzz, we're discussing the workers' comp rate decrease, a COVID-19 liability update from WCJC and how wearables have become important to doctors throughout the pandemic. 

Workers' Comp Rate Decrease

The Wisconsin Office of the Commissioner of Insurance approved an overall workers' comp rate decrease. See the Wisconsin Compensation Rating Bureau's Circular letter here. 

Wisconsin Civil Justice Council COVID-19 Liability Update

The Wisconsin Civil Justice Council released a new COVID-19 liability update. The updated discussed a Wisconsin Legislative Council brief on businesses' use of COVID-19 liability waivers. The mentioned brief reported that Wisconsin courts are "generally skeptical of liability waivers" and would likely refuse to uphold them in future cases. "With individual liability waivers likely off the table, it is even more important for Wisconsin to enact state-level liability protections for Wisconsin businesses facing COVID-19 lawsuits," the WCJC update read. 

The Future of Staying Healthy is Sitting on Your Wrist

As COVID-19 continues to spread throughout the U.S., many people are choosing to stay at home instead of seeing their usual doctors for annual check-ups. Instead of heading to the doctor's office for their appointments, people are turning to telemedicine. Prior to COVID-19, doctors couldn't do much with the information pulled from smart watches but now, the FDA has allowed certain Apple Watch models to take EKG for diagnosis on a telemedicine call.  According to protocol, "In the future, wearables will likely help us realize that we're sick even before we do - and help us prevent illnesses rather than treating them after the fact. Even with COVID, some early trials have suggested that data that existing wearables can collect could be enough to help people know when they've contracted the virus." 

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!