Happy Wednesday! This week we are discussing the new start to tax filing season, how COVID's effect on workers' comp claims has varied by state and the newest update to Wisconsin's mask mandate. 

IRS Delays Start of Tax Filing Season to Feb. 12

Typically, tax filing season starts in late January for those who want to get a head start on their taxes and receive their refunds a little earlier. This year, the tax filing season doesn't start until February 12th. Because of the COVID Relief Act that took effect in late December, the IRS will need more time to prepare for tax season. However, the filing deadline is still April 15th. 

How COVID Effect on Workers' Compensation Claims Has Varied by State, Industry

According to new research and Insurance Journal, "The percentage of COVID-19 claims among all workers compensation paid claims has varied greatly among states and occupations, as has the decrease in non-COVID claims.

The Workers Compensation Research Institute (WCRI) has found that there has been a substantial concentration of COVID-19 claims among workers employed in service industries (85 percent in 2020 second quarter), particularly in assisted living facilities, hospitals, and the offices of physicians and dentists."

Read more about the study here. 

Gov. Evers Officially Extends Wisconsin Mask Mandate to March 20

On Tuesday January 19th, Gov. Tony Evers extended the statewide mask mandate requiring face coverings through March 20th. Alongside the extended mask mandate, he proclaimed a new public health emergency, designating the Wisconsin Department of Health Services as the lead agency in response to the COVID-19 pandemic, and authorizing the Adjutant General to activate the Wisconsin National Guard if needed. Read more about Executive Order #104 and Emergency Order #1 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 and conversation by joining the IIAW's Online Community, exclusively for IIAW members. You can join the Online Community here. We hope that everyone has a great rest of their week! 

Happy Wednesday! In this week's Big I Buzz, we are discussing a new update to the Dane County COVID-19 restrictions, how social media ghosts can cause a risk management nightmare and how you can stay up-to-date on what's happening in politics and government.

Dane County Issues New Public Health Order, Increases Outdoor Gathering Limits

A new Emergency Health Order goes into effect on Wednesday, January 13th. The order allows for indoor gatherings of up to 10 people (mirroring the previous Emergency Health Order) and limits outdoor gatherings to 50 people (increased from the last Emergency Health Order's outdoor capacity limit of 25 people.)

Schools are still allowed to continue in-person learning for all grade levels, and colleges, universities & other higher education centers can also remain open. 

Restaurants in Dane County can offer indoor seating capacity of 25%, while restrictions remain the same for bars and taverns. 

According to the City of Madison, violation of the emergency order could result in a $1,000 fine. Read more here. 

Social Media Ghosts Are Real

In May, the United Way of Southeast Missouri faced a fake social media profile that claimed to be an employee of their business posting racist memes and causing an uproar online. While they worked to mitigate the damage from this fake profile, they are still needing to respond to comments about the fake profile months later. This 'ghost' caused reputational damage and they needed to use their workforce for the first week of this incident to respond to angry emails, comments and other communications about the fake profile. 

According to Property Casualty 360, "The organization did not have insurance coverage for the incident for this incident. And even if it had a cyber policy, it is unlikely it would have responded. Cyber insurance typically covers losses from computer-based attacks on a firm's information technology systems. Claims payments compensate for costs from the theft of data, loss of funds from online fraud, or lawsuits from privacy or regulatory violations... But the reputational damages from incidents like this are tricky to quantify. While there's no simple, easy-to-buy insurance protection from social media ghosts, you and your client organizations can take away a few important lessons from the United Way's ghostly experience:

• Create a crisis plan.

• Engage experts.

• Stay on message. 

• Move fast.

• Ask critics for viral help.

• Strengthen your diversity and inclusion action plan."

Learn more about the incident and how you can prepare for this harsh social media reality here. 

Stay Up-to-Date on What's Happening in Politics and Government

The IIAW's Online Community offers 11 different Groups to join, one of those being our Government Affairs Group. This Group will keep you informed on all the state and federal changes happening politically and emerging issues. This Group monitors legislation on state and national levels, they help direct grassroots lobbying efforts to support legislative activities. If you're not already one of the over 180 members of our Online Community, click here to join. 

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!

 

Date: November 25, 2020

To: Insurance Licensees and Registrants

From: Mark V. Afable, Commissioner of Insurance

 

 

Beginning February 1, 2021,the Office of the Commissioner of Insurance (OCI) will send license renewal notifications only by email,rather than the current practice of sending renewal notifications via email and U.S. Mail.

 

OCI currently sends renewal notifications to all licensees/registrants via U.S. Mail and email using the business email address on file within 60 days of a licensee’s expiration date.

 

Beginning in February, OCI will only be sending notices to your business email address.

 

How Does This Affect You?

 

If your license/registration expires January 31, 2021 or February 28, 2021, you will still receive your renewal notification via email and U.S. Mail within 60 days of the expiration date.

If your license/registration expires on or after March 31, 2021, you will only receive an electronic renewal notification at your business email address.

 

What Should You Do?

 

Check your licensing/registration information using the SBS portal at https://sbs.naic.org/solar-externallookup/license-manager to ensure that all your contact information including your business email is accurate and up to date.

 

You can change your email information using one of the following methods:

1. Email OCI directly at

    ociagentlicensing@wisconsin.gov

2. Change your email with SBS through the SBS

    portal

3. Individual licensees/registrants can go to NIPR

    and submit email changes through the

    following link https://nipr.com/licensing-center/

    change-contact-info

 

Current Information is Required

 

Section 6.61 (1) and 6.61(15), Adm. Code. states that each intermediary or intermediary firm shall, within 30 days, notify the commissioner of insurance in writing any change in the intermediary’s name, residence address, contact email address, business address, or mailing address.

 

You may also refer to the following link for specific guidance on license/registration changes: https://oci.wi.gov/Pages/Agents/UpdateLicenseInformation.aspx#AgentAddress

 

Please note: some emails may go into your spam or junk mail folder. Make sure you check those folders so you do not miss the email reminder and risk your license/registration becoming inactive.

 

If you have any questions, please reach out to the OCI office at ociagentlicensing@wisconsin.gov or call their agency licensing team at

1-800-236-8517.

By: Matt Banaszynski | CEO of IIAW

 

Congratulations! You made it to 2021. 2020 will almost surely be defined by the COVID-19 pandemic. Despite the challenges presented by the pandemic, I see 2020 as the year I gained new perspectives, discovered five years’ worth of innovation in one year, and came to appreciate the little things in life that in a normal year often get overlooked. Recently, I was sitting in my office and was reminded of an article I read back in April titled, “What Hard Times Teach Us: 5 Pandemic-Inspired Lessons That Will Make You Better For The Long Term” by Tracy Brower. I thought I would combine some of her advice with my own words of wisdom that came to mind when I introspectively examined what I learned from this past year. I thought I would share them with you before I file away 2020 in hopes of making 2021 the best year yet!

 

 

Patience: If you have children, you may have an abundance of patience or lack it entirely, but one thing is for sure, this pandemic pushed it to its limit. Whether it was/is navigating and balancing the complexities of virtual learning with working remotely, waiting for the quarantine to lift, or anticipating your favorite restaurants to reopen and spring back to life. One thing was for sure, we are never going back to “normal”.

 

Finding patience can yield a different perspective and even at times, new appreciations in life. As importance as patience is to your well-being, it is also important to understand and recognize the sign of impatience.

 

According to Mindtools.com, “Patience is a vital quality in the workplace. It can reduce stress and conflict, lead to better working relationships, and help you to achieve your long-term life and career goals. Many of us struggle with impatience. Learn to recognize the physical and emotional symptoms associated with it, and to identify the situations that trigger it. When you understand the causes of your impatience, you can develop strategies to prevent or overcome it. These could include attending to your physical well-being by using deep breathing and relaxation techniques and developing your empathy and emotional intelligence skills”.

 

Playing the long game: A term often used to describe how taking the necessary steps now will to set yourself up to long-term success. It means not sacrificing long-term gains for short-term wins. Tracy Bowers says, “With a narrow perspective, current reality can be even more challenging, but by taking a longer-term view, you can reassure yourself that current realities will shift, and good things will come—ultimately—from today’s experiences and lessons”. Warren Buffet once said, “Someone is sitting in the shade today because someone else planted a tree a long time ago.” Do not focus on the here and now, especially when the here and now are so tumultuous. Take solace in the fact that this too shall pass, you will get through it and you will be better because of it. The race is long, and in the end, it’s only with yourself!

 

 

Adaptability: A term that most certainly comes to mind when you look to define 2020. You cannot always control what happens, but you can control how you respond. Benjamin Franklin famously proclaimed, “Change is the only constant in life. One’s ability to adapt to those changes will determine your success in life”. This guiding principle is one that has propelled the American spirit forward for generations and will continue to do so. Some consider this soft skill the most important. As Bob Dylan famously sang, “The times, they are a changin’.” Being adaptable allows you to take control and chart your own course, instead of just letting things happen around you. Remember, change is constant, even without global pandemics, our industry is undergoing a significant amount of change. Be empowered in the face of change.

 

In his article in Forbes entitled, “14 Signs of an Adaptable Person,” Jeff Boss identifies the following traits of adaptable people: they experiment, they see opportunity where others see failures, they are resourceful, they think ahead, they don’t whine, they talk to themselves, and they don’t blame others. They also don’t claim fame, they are curious, they open their minds, they see systems, and they stay current.

 

If you do not possess these traits or would like to refine them, there are ways you can train yourself to be more adaptable. Consider reading, “How to Survive Change . . . You Didn’t Ask for: Bounce Back, Find Calm in Chaos, and Reinvent Yourself” by M.J. Ryan.

 

Resilience: Research shows that resilience is enhanced by having a clear view of reality, a sense of meaning and an ability to improvise. In addition, according to Professor de Weerd-Nederhof of the University of Twente, resilience is both a personality trait and a skill. Hard times may be easier if it is part of your character, but it’s also a competence you can develop through today’s challenging times. The American Psychological Association has a great short read on “Building your Resilience” that is worth checking out.

 

If you would like to become more resilient, consider these tips:

 

• Get connected. 

• Make every day meaningful. 

• Learn from experience. 

• Remain hopeful. 

• Take care of yourself. 

• Be proactive. 

 

Responsiveness: Reacting quickly and positively is an art and an interquel part of good customer service. Responsiveness is a must-have in your communication and customer service toolbox. You show responsiveness through prompt attentiveness when asked for something. This term likely took on new meaning during 2020. Perhaps you found it more important than ever to be responsive to the needs of your loved ones, co-workers, customers, and other business partners. Being responsive creates an opportunity to build trust and respect by acting quickly and proactively, thus eliminating concerns and anxiety during a time of uncertainty. Being responsive during these turbulent times meant the opportunity to create a deeper, more meaningful connection. Consider these 7 ways to be more responsive to your customers according to SmallBizDaily:

 

1. Ask your customers what they want.

2. Manage customer expectations.

3. Develop procedures.

4. Educate your employees.

5. Provide self-service options.

6. Use technology.

7. Stay human.

 

Gratitude: Being grateful for the people and things in your life that have a positive impact is critical to happiness. Whether you’re appreciating the companionship of friends, extended time with family, or the bond you’re building with coworkers through shared struggles, there is a lot to be thankful for. Be sure to share your gratitude to those that have contributed towards it and do not be afraid to

“pay it forward”.

 

Happiness: Happiness is a mindset that can be difficult to explain or define. Much like beauty is in the eye of the beholder, it’s different for everyone. Happiness is an important component to a meaningful life - it can provide a sense of purpose. It’s also something that doesn’t come easy and needs to be earned.   Regularly indulging in small pleasures, getting absorbed in challenging activities, setting and meeting goals, maintaining close social ties and finding purpose beyond oneself all increase life satisfaction. It isn’t happiness that promotes well-being, it’s the actual pursuit that’s crucial.

 

 If you want to learn how to boost your wellbeing with strategies from groundbreaking research, visit happify and read through the resources on The Science of Happiness and How to be Happy.

 

Self-discipline: Self-discipline is about controlling your feelings to overcome your weaknesses - something many of us may have found challenging in 2020. Sure, you can binge-watch your favorite tv show instead of working remotely from home, but as Tracy Bower puts it, “This is a great time to learn new approaches to managing your behavior and building new habits”.  Self-discipline is an essential quality, and it’s a key differentiator between people who are successful in life and those who struggle to be. Make sure that you take time to continually develop it!

According to MindTools.com: To develop self-discipline, follow these steps:

 

1. Choose a goal.

2. Find your motivation.

3. Identify obstacles.

4. Replace old habits.

5. Monitor your progress.

 

Instituting and refining self-discipline won’t always go according to plan. You will have ups and downs, successes and failures. The key is to keep moving forward. When you have a setback, acknowledge what caused it and move on. It is easy to get wrapped up in guilt, anger, or frustration, but these emotions will not help build or improve self-discipline. Instead, use the setbacks in your plan as learning experiences for the future. 

 

Self-care: Taking care of your physical, mental, and emotional health is more important than ever during these stressful times. Develop a process of purposeful engagement in strategies that promote healthy functioning and enhance your well-being. Physically speaking, be sure to get enough sleep, eat healthy and exercise. Social and mental self-care can be difficult in times of isolation. Find ways to get face-to-face (virtually and physically), nurture your relationships with friends and family, make time for activities that mentally stimulate you and find ways to proactively invigorate your life. Set goals to realize your ambitions or aspirations.  Develop methods and outlets to allow you to process and recognize your emotions. Incorporate activities that help you recharge. Assess which areas of your life need attention and as your situation changes your self-care should as well. Self-care is vital for building a resilience toward those stressors in life that you can’t eliminate or predict.

 

Enhancing Your Community: You have probably heard the phrase, “It takes a village…” The truth is that it takes a village to achieve just about any meaningful change in your life. This term took on much more meaning in 2020. You leaned on your various communities, tribes, networks, cliques, associations or whatever you want to call it for support, and you worked harder to provide help and assistance to those that need it in your community. Your community may have evolved to include more people or it may have shrunk to focus more of your efforts on those who needed it most. Building, supporting, and connecting with your community is as important as it has ever been.

 

Tracy Bowers perfectly concluded her article (far better than I can for this one) by saying, “You’ve pushed yourself beyond your limits—not by choice—but by necessity. The good news is these hard times can be the catalyst for new habits, behaviors and lessons. You’re finding perspective by learning to operate your patience button (or just find it) and taking the long view. You’re learning more about resilience and your response by expanding your adaptability and coming up with creative hacks. You’re reinforcing your appreciation for community by connecting with others and embracing gratitude. And you’re managing yourself in new ways with self-discipline and self-care. Perhaps best of all, you’re finding new paths toward happiness. All of these will pay off for you today, but also in the new normal of tomorrow.”

 

My concluding opinion: advice is a form of nostalgia, and dispensing it is a way of fishing the past from the disposal, wiping it off, painting over the ugly parts and recycling it for more than it’s worth!  If I can offer you one tip for the future, it is this… Whatever you do, don’t congratulate yourself too much or berate yourself either. Your choices are half chance, so are everybody else’s!

Happy Wednesday! We are closing in on the holidays and that means it's time to finish up that last-minute shopping. In this week's Big I Buzz, we are covering a great platform to help you shop local Wisconsin businesses. In industry news, we are discussing the IoT Cybersecurity Improvement Act that President Trump signed into law this month and a new NAIC rule that would allow rebating. 

The 'Amazon' of Wisconsin mom & pop shops: Website allows users to search for, shop at 400+ small businesses

We are 9 days away from Christmas and what better way to finish off your shopping than by shopping small and local. MainStreetWi.com is a hub for more than 400 Wisconsin-based, independent businesses: selling everything from fine art and furniture to clothes, books and games. Shoppers using the site can narrow their searches using the toolbar on the side, and even allowing you search for stores geographically using the drop-down bar on the left side of the screen. Most business are offering both delivery and curbside pickup options, helping you to get your gifts on time. Learn more here. 

Trump Signs IoT Cybersecurity Improvement Act into Law

On December 4 2020, President Trump signed into law the bipartisan-backed Internet of Things Cybersecurity Improvement Act of 2020. This law applies solely to federal government agencies, but its downstream consequences are likely to recah further, impacting devices procured by the federal government and - likely, eventually - consumer devices. 

Internet of Things (IoT) devices are in widespread use, most visibly by consumers of new smart home devices. According to the new law, these devices: 1.) interact with the physical world. 2.) Have a network interface for transmitting or receiving information via the internet and 3.) Are not conventional information technology devices such as smartphones or laptops and cannot function as a component of another device such as a processor. Because these devices are generally viewed as being more vunerable to cyberattacks, the IoT Cybersecurity Act seeks to reduce those risks. To do so, the new law: 

1. Tasks the National Institute of Standards and Technology (NIST) with developing, publishing and updating security standards for IoT devices.

2. Requires the Office of Management and Budget (OMB) to review each federal agency's information security policies to ensure they comply with the standards NIST promulgates for IoT devices and; 

3. Prohibits federal agencies from procuring any devices that fail to comply with NIST's standards. 

Learn more about the new act here. 

New NAIC Rule Would Allow Rebating

According to Insurance News Net, "The Executive Committee of National Association of Insurance Commissioners adopted language today designed to allow for 'rebates' to be offered to consumers. The committee unanimously adopted an amendment to the NAIC Unfair Trade Practices Act. Adopted language will permit insurers or producers to "offer or give non-cash gifts, items or services, including meals to or charitable donations on behalf of a customer in connection with marketing, sale, purchase or retention of contracts of insurance." Each state commissioner will decide the possibility of a cap on gift amounts. Learn more about the new NAIC rule 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. We hope that everyone has a great rest of their week!