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Big I Buzz - January 8, 2025

Posted By Kim Fiene, Wednesday, January 8, 2025

Happy Wednesday! In this week's Big I Buzz, we announce our InsurCon2025 keynote speaker!


IIAW Announces Billy Beane, Inspiration for 'MONEYBALL,' as 2025 Keynote Speaker

The IIAW is excited to announce that Billy Beane, the visionary leader behind the revolutionary "Moneyball" philosophy, will be the keynote speaker at InsurCon2025!


Beane’s innovative, data-driven approach to management and leadership changed the course of baseball—and has inspired industries across the board, from healthcare to finance. As General Manager of the Oakland Athletics, Beane used analytics to identify undervalued assets and build a competitive team, leading to seven AL Western Division titles and 10 playoff appearances with one of the lowest payrolls in Major League Baseball.


His journey, which inspired the bestselling book and Oscar-nominated film, Moneyball, made Beane an icon in business management. Today, he continues to shape the future of sports as Senior Adviser to Oakland Athletics owner John Fisher.


Beane will bring his unique insights and signature wit to the stage for a moderated conversation with Milwaukee Brewers radio broadcast announcer Lane Grindle.


We can’t wait to hear from this Forbes “100 Greatest Living Business Minds” and four-time MLB “Executive of the Year” winner. Don’t miss the opportunity to hear from one of the most influential minds in sports and business at InsurCon2025, May 7-8 at American Family Field. Register today!


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.

Tags:  big i buzz  insurance happenings  insuring Wisconsin  wisconsin insurance  wisconsin insurance agency help  wisconsin insurance blog 

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Big I Buzz - September 18, 2024

Posted By Kim Fiene, Wednesday, September 18, 2024

 

Happy Wednesday! In this week's Big I Buzz, meet the new Big 'I' National Chairman. Plus, US nuclear verdicts break records.


Meet the New Big ‘I’ National Chairman

Todd Jackson has been appointed as the Independent Insurance Agents & Brokers of America's 2024-2025 Chairman. With over 30 years of experience in the insurance industry, he is also the owner and partner at McGowan Insurance Group in Indianapolis. Jackson was officially installed as chairman during the Big “I" Fall Leadership Conference held from September 4-8 in Indianapolis. Independent Agent magazine spoke with Jackson about his journey in insurance, his new role as chairman, and how the Big “I" is adapting to meet its members' needs amid a challenging market environment. Read the interview here.

 

U.S. Nuclear Verdicts Break Records and Drive Social Inflation to 7% in 2023

In 2023, the U.S. has seen a record 27 court cases resulting in "nuclear verdicts," each awarding over $100 million, according to Swiss Re executives. This surge in large jury awards has contributed to a significant rise in social inflation, which hit 7% (a 20-year high) driven by increasing litigation costs. Dr. Jérôme Jean Haegeli, group chief economist at Swiss Re, addressed these trends during a press briefing at the reinsurance Rendez-Vous de Septembre in Monaco. 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.

Tags:  big i buzz  insurance happenings  insuring Wisconsin  wisconsin independent insurance association  wisconsin insurance agency help  wisconsin insurance blog 

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Government Affairs: Workers' Compensation and Liability for COVID-19

Posted By IIAW Staff, Tuesday, August 18, 2020

coronavirus

By: Misha Lee | IIAW Lobbyist

 

While IIAW member agencies continue to try and answer questions and provide as much helpful information to their customers on various issuesrelated to the Coronavirus pandemic, a recent publication from the Wisconsin Legislative Council comes to mind as a resource. The Legislative Council is a nonpartisan service agency that provides legal advice and guidance to members of the Wisconsin Legislature so that legislators can make better, more informed decisions.

 

The Legislative Council published a June 2020 issue brief discussing Workers’ Compensation and  employer liability for employees diagnosed with COVID-19 following returning to work. The issue brief explains that the state Workers’ Compensation Act provides that employee injuries sustained from an illness or infection are generally covered by Workers’ Compensation, but employees must demonstrate that they became ill through the course of their employment. Employees seeking Workers’ Compensation coverage for a COVID-19 diagnosis must show their illness was caused by exposure at work. Injuries, including COVID-19, are covered whether or not the employer was negligent.

 

Wisconsin Workers’ Compensation law provides an “exclusive remedy” for employees who are injured in the course of their employment, meaning that employees cannot bring separate legal actions outside of the Workers’ Compensation system against their employer for an employment-related injury. However, as the issue brief outlines, employees can still bring actions against third parties other than their employer, if the third party is at least partially responsible for their injury. Employees must prove that the third party’s negligence led to their injury, which also could include COVID-19 exposure.

 

Read the Legislative Council issue brief athttps://bit.ly/AugGovAffairs.

 

The widespread COVID-19 pandemic leaves employers and third parties, even those following federal and state government recommended best practices and guidelines, open to lawsuits ifemployees or customers contract the virus. Various polling data suggests that employer liability is real with many employees indicating they would sue their employer over contracting COVID-19. This uncertainty and increased exposure to liability and costly lawsuits is of great concern to many employers throughout the state. Wisconsin needs a “safe harbor” for businesses that comply with government recommendations and practice appropriate protocols. These measures will help ensure business owners and their employees are comfortable reopening and protect employers from civil claims filed outside of the Workers’ Compensation system. Wisconsin lawmakers need to take action otherwise it will be “open season” on employers and a wave of COVID-19 related lawsuits from trial lawyers will seriously undermine efforts to restart and rebuild our state’s economy.

 

The IIAW supports efforts by the Wisconsin Civil Justice Council (WCJC), Wisconsin Insurance Alliance (WIA) and other business partners who are advocating for COVID-19 liability protections to protect our commercial customers.

Tags:  government affairs  insurance happenings  insuring Wisconsin  wisconsin independent insurance association  wisconsin insurance agency help  wisconsin insurance blog 

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