Something big is coming to the independent insurance world this September, and you’re going to want in on it.

On September 4, we’re launching Agency Compensation 360, the first-ever, multi-state compensation survey built specifically for independent insurance agencies and powered by Big “I” associations. This isn’t just another generic industry report – it’s your chance to get real, independent agency-specific salary, benefits, and commission data that you can actually use.

Why this is a game changer for independent agents

Let’s be honest, up until now, getting accurate compensation data for independent agencies has been tough. Most of what’s out there mashes all kinds of insurance data together, making it hard to figure out how you really stack up.

With Agency Compensation 360, that changes. You’ll be able to compare your agency’s numbers with others of similar size and location, giving you a clear, accurate view of where you stand. Want to know how agencies your size in your region are paying producers? Or how benefits and PTO compare? You’ll finally have answers.

And the best part? If you take the survey, you get free access to the interactive dashboard when results go live in early November – a $2,500 value. You can filter the data by state, region, agency size, role, and more to get exactly the insights you need.

What’s in it for you

By participating, you’ll get:

• Salary & commission ranges that are actually relevant to independent agencies
• Benefits & PTO trends that show what’s competitive right now
• Insights into remote work adoption
• A peek at 2026 staffing forecasts so you can plan ahead

We can’t do it without you!

Here’s the thing – the more agents who take the survey, the more powerful and accurate the results will be. Your input will help create a more robust, insightful Agency Compensation 360 dashboard that benefits you and the entire independent agency community.

September 4 is compensation survey day. Look for more details in your inbox from the IIAW on how to complete the Agency Compensation 360 survey to access the results dashboard in November.

This is your opportunity to shape the data, see where see where your agency stands, and make smarter decisions for your business. Don’t miss it.

Launch Date: September 4

Results Available: Early November

The IIAW is pleased to announce that Janel Bazan has joined the Independent Insurance Agents of Wisconsin as our new Vice President. Janel has been a dedicated member of the IIAW Board of Directors for several years, providing valuable leadership and insight to our association. Now, she will take on the role of Vice President, bringing her talents, experience, and strategic mindset to help guide the IIAW and our members as we continue to grow and elevate the association.

To help members get to know Janel better, we asked her a few questions about her background, interests, and vision for the future:

Can you share a little about your professional journey and what brought you to this role with the IIAW?

My insurance career began nearly 30 years ago at Mortenson, Matzelle & Meldrum (now M3), where I learned the fundamentals of running an agency from my first mentor, Diane Wilkinson. After a move to Florida and time off to start a family, I returned to Madison and joined Johnson Insurance, eventually working on the management team under Linda Steiner—an incredible mentor who introduced me to the Big “I.”

Through that connection, I served on several committees and later joined the IIAW Board of Directors. During this time, I joined AVID Risk Solutions, and it was there working with Brock Ryan and Ben Shortreed that I realized work is not work when you are having fun every day.

I believe everything happens for a reason, and with a change in staff at the IIAW and the pending second acquisition of the agency I was at, the timing was aligned for me to truly give back to the insurance industry by joining the IIAW as a full-time staff member!

What excites you most about joining the IIAW team?

I’m excited about helping others navigate questions like, “What do you know about…?”, “Have you ever experienced this?”, or “Where can I find…?” especially when it comes to resources available to agents or agencies. Whether it’s outsourcing needs like accounting, audits, marketing, or HR, the IIAW provides these solutions for our members. Additionally, it’s crucial for independent agents to have a strong voice in legislative matters, and the guidance that Misha Lee and the IIAW offer ensures that changes happen with our input. This is where the IIAW can truly represent the independent agent over any other association, hands down.

How do you see the insurance industry evolving in Wisconsin, and how do you hope to contribute?

Like many other industries, the Wisconsin insurance industry will see increased use of AI in the future. I don’t believe the agent will be eliminated. The relationships built with agents are similar to those we value in the financial or healthcare fields—collaborative interaction will always be essential.

Outside of work, what hobbies or activities do you enjoy?

Outside of work, you’ll find me with friends and family enjoying the lakes or bike trails in the Madison or Minocqua area or sitting by the campfire with a nice glass of wine, taking in the night sky.

Do you have a favorite resource that inspires you professionally or personally?

By Misha Lee, IIAW Government Affairs

Governor Tony Evers officially signed the 2025-27 biennial state budget bill (2025 WI Act 15) into law on Thursday, July 3rd only hours after the Republican controlled Legislature sent him the bill for his signature. The comprehensive $111.1 billion plan represents a 12 percent increase in spending and includes several provisions directly impacting the IIAW membership and insurance industry. 

The budget's passage came swiftly after the state’s fiscal year ended on June 30. With new legislative maps creating tighter margins in the Senate (Republicans holding an 18-15 majority), securing bipartisan support for the budget was a significant challenge. Ultimately, a deal was struck on July 1st after intense, on-and-off negotiations over six weeks, with the Senate Democratic leader playing a crucial role in the final discussions with Republican legislative leaders.

Here’s a breakdown of key insurance related provisions included in the budget bill: 

Insurance Fraud Paralegal Position

The Office of the Commissioner of Insurance (OCI) will receive a new paralegal-advanced position to bolster its fraud investigation activities. This addition complements a full-time attorney position approved in the previous budget, reinforcing the state's commitment to fighting insurance fraud. 

New Driver Education Grants Program

A significant win for the industry, the budget establishes a new, ongoing driver’s education grants program. The Wisconsin Department of Transportation (DOT) will receive $6 million annually from OCI for this initiative. This funding, previously lapsed to the state’s general fund, reflects the insurance industry's dedication to improving driver education resources for young drivers. 

Sales and Use Tax Exemption for Information Products

A crucial provision exempts certain information products from state sales and use tax. This applies to reports, statistics, records, and other data used exclusively by certified insurance companies or licensed insurance intermediaries for quoting, underwriting, risk assessment, rate setting, or claims adjustment. This exemption covers items purchased by insurers or affiliates, transferred in tangible or digital form, and charged transactionally or via subscription. This measure is estimated to save the insurance industry approximately $8 million in 2025-26 and $10.9 million in 2026-27, rectifying what the industry viewed as incorrect tax collection by the Wisconsin Department of Revenue (DOR). 

Worker’s Compensation Hospital Service Fee Schedule

The budget introduces a new fee schedule specifically for hospital services related to Worker’s Compensation claims. This schedule applies if the service is from an eligible hospital, qualifies for Medical Assistance program reimbursement, and is paid within the specified period. The Wisconsin Department of Workforce Development (DWD) Worker’s Compensation Division will oversee the implementation of this complex provision, a key priority for Wisconsin Manufacturers and Commerce (WMC). 

Beyond these insurance-specific items, the broader budget agreement also addresses a range of other state priorities, including: 

Tax Cuts: $1.5 billion in income tax cuts, primarily benefiting the middle class, by expanding the second lowest income tax bracket, making the first $24,000 of retirement income tax-free for those 67 and older, and eliminating the 5% sales tax on electricity. 

Child Care Investment: Over $330 million dedicated to the child care industry, including the state’s first-ever state-funded child care program using general purpose revenue. 

K-12 Education: Nearly $1.4 billion increase in spendable revenue for K-12 schools, raising the special education reimbursement rate to 42% in the first year and 45% in the second year. 

Universities of Wisconsin (UW System): An increase of over $256 million for the UW System. 

Transportation Funding: An additional $200 million for transportation through various fee increases. 

Medicaid and Hospitals: $1.4 billion to cover Medicaid costs and an increase in the hospital assessment from 1.8% to 6%, generating over $1 billion in additional annual funds for hospitals. The state will retain 30% of matching federal funds for Wisconsin’s Medicaid trust fund. 

The budget brings both opportunities and operational adjustments for insurance professionals across the state. Staying informed about these changes is crucial for navigating the evolving regulatory and economic landscape.

Happy Wednesday! In this week’s Big I Buzz: the Big "I" voices support for efforts to preserve the state-regulated insurance model, and tort reform efforts gain momentum as the surge in nuclear verdicts continues to reshape liability litigation.

Big "I" Applauds Effort to Protect State-Based Insurance System

Senator Tim Scott (R-South Carolina), Chairman of the U.S. Senate Banking, Housing, and Urban Affairs Committee, and Representative Bryan Steil (R-Wisconsin) have reintroduced the “Business of Insurance Regulatory Reform Act.” This legislation aims to clarify the scope of authority granted to the Consumer Financial Protection Bureau (CFPB) under the Dodd-Frank Act, reinforcing the role of state insurance regulators as the primary overseers of the insurance industry. The Big “I,” along with several other trade associations, submitted a joint letter of support to Sen. Scott and Rep. Steil, thanking them for their continued leadership to protect the state-based system of insurance. Read more here.

Tort Reform Gains Ground as Nuclear Verdicts Reshape the Liability Landscape

The legal landscape surrounding liability is shifting as nuclear verdicts become more frequent and several states move forward with broad tort reform measures. According to Sedgwick’s 2025 liability litigation trends report, these reforms are intended to restore balance to the judicial system in response to the sharp rise in high-dollar awards.

In 2024 alone, there were 135 verdicts awarding more than $10 million, marking a 52% increase over the previous year. The total value of these verdicts reached $31.3 billion—up 116% from 2023. 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: the Big "I" outlines key takeaways from the new tax law, and Swiss Re offers an updated look at the US P&C insurance landscape.

Federal Tax Reform: The Big ‘I’ Shares Takeaways From New Tax Law

With the One Big Beautiful Bill (OBBB) now signed into law, the Big “I” has released a summary to help independent insurance agents understand the tax provisions included in this sweeping legislation. The new law represents a major overhaul of U.S. tax policy, making many elements of the 2017 Tax Cuts and Jobs Act (TCJA) permanent while introducing additional reforms.

A key highlight for many independent insurance agencies: the bill permanently extends the 20% pass-through deduction for qualified business income under Section 199A.

Read more and view the full summary from the Big “I” here.

Swiss Re: US Property & Casualty Outlook: Sunny Skies, but Pack an Umbrella

Swiss Re has released its latest outlook for the U.S. Property & Casualty industry, noting that the sector achieved a 99% combined ratio in Q1 2025—an encouraging sign of resilience despite challenges like the California wildfires.

Key takeaways from the report include:

• The 2025 outlook remains positive, supported by historically strong—though moderating—underwriting results.
• Growth is expected to slow, but profitability should remain stable. However, the potential for loss-cost shocks remains.
• Industry return on equity (ROE) is projected at 10% for both 2025 and 2026, with investment gains offsetting weaker underwriting margins.
• Premium growth is forecasted at 5.5% in 2025, slowing to 4% in 2026—still considered strong by historical standards.

Read the full 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.