Happy Wednesday! In this week’s Big I Buzz: the U.S. Senate passes the "One Big Beautiful Bill Act." Plus, how auto insurers can safeguard drivers against predatory tows.

Big "I" Secures Important Win as Senate Passes Tax Package

The Big “I” is celebrating a significant legislative victory as the U.S. Senate passed the “One Big Beautiful Bill Act” on Tuesday, July 1. This comprehensive tax package includes critical reforms and would make many provisions of the 2017 Tax Cuts and Jobs Act (TCJA) permanent.

Most notably, the bill would preserve the 199A deduction for pass-through entities, keeping it at the current 20% rate. According to the 2024 Agency Universe Study, 86% of independent insurance agencies are structured as pass-through entities and file taxes at the individual rate—making this a meaningful win for Big “I” members. Read more here.

How Auto Insurers Can Safeguard Drivers Against Predatory Tows

While most towing professionals operate with integrity, a small number take advantage of drivers in distress. These bad actors use deceptive tactics like impersonating legitimate businesses, quoting low prices only to inflate them later, towing without consent, or charging for unnecessary services.

Insurers can help protect policyholders by connecting them with trusted roadside assistance programs—an effective way to shield drivers from potential fraud. 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: U.S. insurance companies are being targeted in a new wave of cybersecurity attacks. Plus, the industry is bracing for a growing talent shortage—what can be done?

US Insurance Industry Warned of Scattered Spider Attacks

Google’s Threat Intelligence Group is warning that the threat actor Scattered Spider (also known as UNC3944) is actively targeting U.S. insurance companies and managed service providers.

Using advanced social engineering tactics, attackers are impersonating IT or helpdesk staff to bypass multi-factor authentication (MFA), reset credentials, and deploy ransomware.

What You Should Do:

• Use stronger MFA – Opt for phishing-resistant methods like hardware tokens or push-based apps.
• Secure helpdesk procedures – Validate identity through callbacks or challenge questions before resetting passwords.
• Stay alert – Monitor for unusual login activity, MFA failures, and unexpected password resets.
• Reinforce staff awareness – Conduct regular training against phishing and social engineering.

Learn more here.

Insurance Industry Talent Shortage is Imminent

The insurance industry is staring down a major workforce gap. The U.S. Bureau of Labor Statistics estimates 400,000 insurance professionals will retire by 2026. Meanwhile, agencies are struggling to recruit young talent.

Without a new generation stepping in, the industry risks losing the valuable “generational handshake”—the transfer of knowledge from experienced professionals to new recruits.

Rose Hall, founder and CEO of RH Business Ventures, says the industry may need to rethink its image. Gen Z candidates are looking for flexibility, purpose, and modern work environments—not just a 9-to-5 desk job. 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: Wisconsin lawmakers introduce a wave of mental health care legislation, and Progressive unveils a new initiative to support first-generation homebuyers.

Wisconsin Lawmakers Propose Dozens of Mental Health Care Bills

Among several mental health-related bills introduced last week, Wisconsin lawmakers are proposing legislation that would require health insurance companies to cover mental health care visits. The proposal is part of a broader package heard by the Assembly Committee on Mental Health and Substance Abuse Prevention, which also includes increased school funding and workforce development grants.

However, the insurance-focused measures may face significant resistance. Similar efforts to expand insurance mandates in the state have struggled in the past, making the path forward uncertain. Read more here.

Progressive Launches Program to Empower First-Gen Home Buyers

Over the past 30 years, the median wealth gap between renters and homeowners has grown by 70%, according to the Urban Institute. This growing divide makes it harder for renters—especially first-generation buyers—to purchase a home and build long-term wealth. In response, Progressive Insurance has launched Open the House, a new program designed to guide and empower first-generation homebuyers. The initiative offers tools, resources, and financial literacy education to support buyers through the purchase process and help them remain in their homes long-term. Progressive says the program builds on its broader homeownership efforts, noting it contributed more than $7 million last year to help families become homeowners. 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 Wisconsin OCI offers tips for Wisconsinites impacted by storm damage. Plus: take the J.D. Power Carrier Satisfaction Survey.

Insurance Commissioner Shares Tips for Wisconsinites Impacted by Storm Damage

Severe storms recently swept through Wisconsin, leaving behind significant damage to homes, farms, and businesses. In response, Insurance Commissioner Nathan Houdek is offering guidance to help residents navigate the recovery process.

OCI recommends that consumers consider the following tips as they evaluate any storm damage:

• Make a list of damaged items, including cracks in walls, damage to siding or shingles, spoiled food due to a long-term power outage, etc.
• Take photographs of the damages before you begin to clean up.
• Don't throw out any damaged property without the claim adjuster's agreement.
• Keep all receipts that document the cost of the repairs or the replacement of damaged items.

Read More Here.

Take the J.D. Power Carrier Satisfaction Survey

J.D. Power and the Big “I" have once again partnered for the “2025 Independent Insurance Agent Satisfaction Study." The survey gauges agents' experience with the insurers they work with and how satisfied they are in specific areas.

Those who qualify and complete the survey will receive a transferable $25 e-gift card and a complimentary summary report of the study. No one will contact respondents as a result of completing this survey. Feedback will only be used for research purposes. All submissions are validated and respondents must use their Big “I" member email address to participate. Take the Survey.

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: A report reveals how much the average household spends on bills. Plus, a look at how congress and executive orders will impact health care.

Typical U.S. Household Shells Out Over 24K Each Year in Bills

A recent report by Doxo found that U.S. consumers spend nearly $25,000 per year on household bills. The data showed that a typical household spends $24,695 per year or $2,058 per month, with a median annual household income of $80,610.

According to the report, the 13 most essential household bills are:

• Mortgage ($1,775), Rent ($1,453) and Auto loan ($470).
• Cable & Internet ($121), Electric ($120) Auto Insurance ($105) and Mobile Phone ($96).
• Water & Sewer ($86), Alarm & Security ($74) and Health Insurance ($72).
• Gas ($71), Waste & Recycling ($70), and Life Insurance ($60).

Read more here.

How Will Congress, Executive Orders Impact Health Care?

Congress is poised to significantly influence the U.S. health care landscape as it reconvenes from its spring recess with a focus on extending the 2017 Tax Cuts and Jobs Act. This initiative includes potential $1.5 trillion in spending reductions, with Medicaid cuts emerging as a contentious issue. To offset the cost of tax extensions, lawmakers are considering limiting the tax-preferred status of employer-provided health coverage, a substantial expense under the Internal Revenue Code. Simultaneously, executive orders under President Trump's "Make America Healthy Again" initiative aim to expand treatment options, promote preventive care, and enhance price transparency in health insurance. 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.