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Big I Buzz - September 23, 2020

Posted By IIAW Staff, Wednesday, September 23, 2020

In this week's Big I Buzz, we are discussing the new Emergency Order from Governor Evers, the cost of damage from violence in Kenosha and the USDA's plans for $14B more in virus relief for farmers. 

Governor Evers Issues New Public Health Emergency Due to Campus Outbreaks, Issues New Face Coverings Order

On September 22nd, Governor Tony Evers extended the statewide mask mandate with a new COVID-19 emergency order. Originally, the first mask mandate in Wisconsin was set to expire at the on Monday, September 28th. Now, his new order will extend the mask mandate through November 21, effective immediately and remains in place for 60 days or until a superseding order is passed. 

Damage from Violence In Kenosha, Wisconsin, Tops $11M

According to Kenosha, Wisconsin's fire chief, damage from the unrest over the police shooting of Jacob Blake has now topped $11 million. According to the Kenosha News Fire Chief Charles Leipzig told commissioners, "To put it into context, that's three years of fire loss for us in the span of about a week." Read more here

USDA Plans $14B More in Virus Relief for Farmers

On September 18th the U.S. Department of Agriculture released details of its plan to provide "financial assistance that will give producers the ability to absorb increased marketing costs associated with the COVID-19 pandemic", according to Insurance Journal. The first mention of the aid came during President Donald Trump's speech in Wisconsin on Thursday, September 17th. During his speech he promised favorable trade and and regulatory changes, as well as tax cuts. According to Insurance Journal, "Much of the additional money will come in direct payments for crops that meet a specified threshold of price delicne. This includes corn, soybeans, wheat and some cotton. Chicken, eggs, milk, beef cattle, pigs and lambs will also be covered, as will tobacco, wool, alfalfa, oats, peanuts, rice and hemp. The program places a payment cap of $250,000 per person or farm entity for all commodities combined. Gross income can't be more than $900,000, unless at least 75% or more of their income is derived from farming, ranching or forestry-related activities." Read more about the financial assistance plan 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! 

Tags:  big i buzz  insurance industry news  insurance industry updates  insuring Wisconsin  wisconsin independent insurance association  wisconsin insurance agency help  wisconsin insurance blog 

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Big I Buzz - August 5, 2020

Posted By IIAW Staff, Wednesday, August 5, 2020

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!

Tags:  big i buzz  insurance industry news  insurance industry updates  insurance news  insuring Wisconsin  wisconsin independent insurance association  wisconsin insurance agency help  wisconsin insurance blog 

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Big I Buzz - July 29, 2020

Posted By Evan Leitch, Wednesday, July 29, 2020

In this week's Big I Buzz, we have news about the success of the WEDC "We're All In" small business grants that the IIAW assisted eligible members with obtaining, IIABA's new Agency Cyber Guide 3.0 from ACT and a new report shows that the average age of cars Americans drive is about 12 years.

WEDC "We're All In" Small Business Grant

The WEDC Reviewed more than 30,500 applications for the 'We're All In' grants for small  businesses. The IIAW assisted hundreds of Wisconsin insurance agencies in obtaining this grant. 

 ACT Releases Agency Cyber Guide 3.0

Handling sensitive information is now one of the most critical responsibilities faced by the modern insurance agency. Independent insurance agents and brokers must properly collect and protect sensitive client information every day. This means complying with state and federal regulations as well as adhering to customer service best practice standards, and compliance with Data Privacy Laws as mandated in all Agency/Company contracts. 

 Average Age of Cars Americans Are Driving Nears 12 Years: IHS Markit

Americans are hanging on to their cars and trucks longer, pushing the average age of vehicles on the road to the highest level in nearly 20 years even before the coronavirus hit, according to new data from IHS Markit Ltd. That is not good for emissions or safety, but t could give a lift to companies that manufacture and sell repair parts.  

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! 

 

Read the July 29 edition of the Big I Buzz Here

Tags:  Big I Buzz  IIAW news  insurance industry news  Insurance news  insuring wisconsin  weekly wisconsin insurance agent newsletter  wisconsin insurance news 

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