MILWAUKEE, Wis. — Badger Mutual Insurance Company has named Shane Paltzer as Director of Strategic Growth, adding an accomplished insurance executive to its leadership team as the company enters its next phase of growth and advances its long-term strategy for commercial expansion and innovation.

Paltzer brings more than 30 years of insurance industry leadership experience to Badger Mutual, most recently serving as Vice President of Personal Lines Underwriting & Corporate Relations at Acuity Insurance. His leadership experience spans underwriting, marketing, compliance, culture, and operations, including helping guide significant growth and transformation as Acuity expanded from approximately $300 million to more than $3 billion in written premium.

"As we look ahead, we’re focused on strengthening the capabilities that position Badger as a leader in delivering innovative solutions while providing the trusted relationships and personal service that have always set us apart," said Dan Nigro, CEO of Badger Mutual. "Shane brings the strategic perspective and leadership experience to help us continue advancing that vision."

Paltzer's addition supports Badger Mutual's TRUST in Action strategy, which is focused on expanding commercial expertise, strengthening agency partnerships, and continued innovation to better serve policyholders, employees, and independent agents.

"I'm honored to join Badger Mutual at such an exciting time in the company's history," said Paltzer. "Badger has a strong reputation, a clear vision for the future, and a people-first culture built on trust and relationships. What attracted me to Badger was its ability to honor its foundation while continuing to evolve. I look forward to working alongside this talented team to create new opportunities for our employees, agency partners, and policyholders."

About Badger Mutual Insurance Company

Badger Mutual Insurance Company has been providing property and casualty insurance products since 1887. Headquartered in Milwaukee, Wisconsin, the company is represented by more than 300 independent agencies across seven states: Wisconsin, Illinois, Minnesota, Iowa, Michigan, Arizona, and Nevada. The company maintains an A+ (Superior) group rating from AM Best as an affiliated partner with Rural Mutual Insurance Company.

Happy Wednesday! In this week's Big I Buzz: Summer car maintenance tips, and social media's role in tornado disaster communication.

Summer Car Maintenance Tips

Summer is one of the busiest and riskiest times on American roads, with accidents and other travel-related incidents often increasing, especially around holidays like the Fourth of July.

Several factors contribute to the increased risk, including:

• More teens on the road: With school out, newer and less experienced drivers are behind the wheel more often.

• Dehydration and fatigue: Hot temperatures can impair judgment and slow reaction times.

• Increased alcohol consumption: Summer gatherings can increase the risk of impaired driving.

• More construction: An increase in road projects means drivers encounter more work zones and changing traffic patterns.

Vehicle maintenance is another important factor. High temperatures can contribute to overheated engines, blown tires and other roadside emergencies. Read more here.

Study Explores Social Media’s Role in Tornado Disaster Communication

Social media has become a critical tool for sharing weather warnings, damage reports and recovery information. However, a new study from University of Nebraska–Lincoln media scholar Cory Armstrong found that disasters can also expose persistent communication gaps in rural and underserved communities.

Following a powerful EF-4 tornado in Mississippi that killed 17 people, Armstrong and University of Alabama researcher Matthew Van Dyke found that digital platforms helped spread important information. At the same time, interviews with emergency managers and weather officials highlighted ongoing challenges, including limited broadband access and fragmented media, raising questions about how best to reach vulnerable populations during life-threatening events. 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 join our emailing list.

Happy Wednesday! In this week's Big I Buzz: the top Fourth of July homeowners risks, and a lawsuit over airline "window seats" without windows.

July Fourth’s Real Party Crashers: Leaks and Thieves

While fireworks often steal the spotlight when it comes to Fourth of July safety, they're not the biggest source of homeowners insurance claims. According to an analysis by Mercury Insurance of five years of homeowners claims, water damage, severe weather and theft generated significantly more claims than fireworks during the holiday.

Water damage topped the list with 537 claims totaling nearly $10 million in paid losses, compared to just 54 fireworks-related claims. Weather- and tree-related damage ranked second with 293 claims, followed by theft and vandalism with 113 claims. Read more here.

United Airlines Must Face Lawsuit Over ‘Window Seats’ That Lack Windows

A federal judge has denied United Airlines' request to dismiss a lawsuit filed by passengers who say they paid extra for window seats, only to discover their seats had no windows. The airline argued that "window seat" simply describes the seat's location next to the aircraft wall, but the judge rejected that reasoning.

Proposed class-action lawsuits against United and Delta Air Lines were filed after passengers reported being assigned to windowless seats on select Boeing 737, Boeing 757 and Airbus A321 aircraft, alleging the airlines failed to clearly disclose the missing windows during the booking process. 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 join our emailing list.

Happy Wednesday! In this week's Big I Buzz: how to help clients turn benefits into a talent attractions tool, and important Fourth of July safety reminders from ReadyWisconsin.

Help Clients Turn Health Benefits Into a Talent Attraction Tool

As healthcare costs continue to rise and economic uncertainty persists, employers are rethinking their benefits strategies to attract and retain top talent. In 2025 nearly one-third of employers enhanced their medical benefits to stay competitive in the hiring market, while employees continue to seek more affordable and personalized coverage options.

For independent agents, this presents an opportunity to add value as a trusted advisor. By helping employers navigate evolving benefit options, simplify plan administration, and balance affordability with meaningful coverage, agents can strengthen client relationships while ensuring employees have access to the protection they need. Read more here.

Keep Safety in the Spotlight This Independence Day

As communities prepare to celebrate Independence Day and commemorate the 250th anniversary of the United States, ReadyWisconsin is reminding everyone to celebrate responsibly and make fireworks safety a priority.

According to preliminary data from the Wisconsin Department of Health Services, there were 226 fireworks-related emergency department visits in Wisconsin in 2025, with 58% occurring during the first week of July. Even seemingly harmless sparklers can burn at approximately 2,000 degrees Fahrenheit—hot enough to ignite clothing and cause serious burns.

The safest way to enjoy the holiday is to attend a professional community fireworks display. If you plan to use consumer fireworks, be sure to follow ReadyWisconsin's recommended safety guidelines. Read their recommendations 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 join our emailing list.

Happy Wednesday! In this week's Big I Buzz: North Carolina becomes the first state to ban third party litigation funding. Plus, ways agents can show up for clients as the healthcare market evolves.

North Carolina Bans Third-Party Litigation Funding

North Carolina recently became the first state to ban third-party litigation funding (TPLF), a practice in which outside investors provide funding for lawsuits in exchange for a share of any future settlement or court award. The new law prohibits third parties from investing in civil litigation for financial gain, making North Carolina the first state to enact an outright ban on the practice.

Insurer and business groups have identified TPLF as a contributor to rising litigation costs and broader concerns about legal system abuse, citing that outside funding can increase the frequency and duration of lawsuits, leading to larger settlements and verdicts that ultimately affect insurance costs. Read more here.

How Agents Can Show Up for Clients as the Healthcare Market Evolves

As healthcare costs continue to rise and regulatory changes reshape the market, insurance agents play an increasingly important role in helping clients make informed coverage decisions. The U.S. health insurance market is projected to grow from $1.6 trillion in 2026 to $2.1 trillion by 2031, but challenges such as Affordable Care Act changes, Medicaid funding concerns, inflation, and rising prescription drug costs are putting pressure on both consumers and employers.

Agents can add value by helping clients:

• Evaluate coverage options and funding strategies, including self-insurance and fully insured plans.

• Identify unnecessary expenses and opportunities to improve plan efficiency.

• Better understand evolving healthcare benefits and costs.

• Navigate complex market and regulatory changes.

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 join our emailing list.

Happy Wednesday! In this week's Big I Buzz: coverage confidence gaps are leaving homeowners uncertain about what’s actually in their policies. Plus: Wall Street turns to new catastrophe models to help assess the growing risk of global conflict.

The Hanover: Coverage Confidence Gaps Leave Homeowners Confused

The Hanover’s 2026 Home Report shows that while homeowners overwhelmingly want strong insurance protection, many still don’t fully understand what their policies cover. The survey of 1,173 homeowners highlights a clear gap between the value consumers place on coverage and whether they’ve confirmed it is included in their policies.

• 96% say personal property replacement cost coverage is important

• 90% value identity fraud protection

• 90% consider water backup coverage important

• 89% say service line coverage is important

However, these coverages can vary widely by carrier and policy tier, and many homeowners have not verified whether they are included in their own policies. Read more here.

Wall Street Is Gaining Access to New Catastrophe Models to Help Predict Wars

As Wall Street works to integrate geopolitical risk into financial modeling, firms are increasingly turning to catastrophe modeling techniques traditionally used for natural disasters. These approaches are now being adapted to help investors, banks, and insurers better understand and price the risk of military conflict.

The number of countries involved in external conflicts has nearly doubled to just over 100 since 2008, while the global economic impact of violence has risen to nearly $22 trillion—more than 10% of global GDP.

With conflict influencing everything from oil prices to mortgage costs, financial markets are reconsidering whether some long-standing risk models still reflect today’s realities. 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 join our emailing list.

Miller, one of SFM’s original employees, has shepherded the company’s growth, helped lead the expansion of SFM’s operations and has long been recognized as a leader in the workers’ compensation insurance industry.

“I’m proud of what we have accomplished during my time at SFM. We’ve grown from an organization of eight employees into a company with more than $1 billion in assets,” Miller said. “Our commitment to service excellence has propelled our success over the years, and I’m grateful to be part of a company that values doing the right thing by all of our stakeholders.” 

Miller, who took over as CEO in 2018, was also part of the group that ushered in SFM’s strategic business units — interdisciplinary groups rather than siloed departments, which has helped the company better serve its customers. He has been at the forefront of SFM’s commitment to technological enhancements, and consistently focused on customer retention and providing better care for injured workers.  

“I’ve always led with, ‘Do the next right thing and the results will follow.’ I’m a firm believer in that. Every job is important,” he said. “It’s incredible to see how far SFM has come over the years, and I’m thankful for all the people I’ve worked with and the experiences I’ve had here.”

SFM’s next President

As Miller has prepared for retirement, SFM and its Board of Directors engaged in long-range planning to identify his successor. In September 2025, Amanda Aponte (formerly SFM’s Chief Financial Officer) was promoted to Executive Vice President, setting the stage for her to gradually take on Miller’s responsibilities and succeed him as President and CEO.

SFM’s Board of Directors in June named Aponte President-elect, a role she will hold until Miller’s departure in January 2027, when she will formally take over as the company’s President and CEO.

Aponte’s journey with SFM began in 2007 as an actuarial intern. Over the years, she rose through the ranks as Actuary, Director of Analytics, Chief Risk Officer and CFO. Her fingerprints are on nearly every financial milestone the company has achieved — from enterprise risk management and reserving strategy to investment diversification and business intelligence.

“I’m honored to step into this position,” Aponte said. “While my background is in analytics, my passion is leading people with kindness and empathy. I’m excited to help guide our teams through staffing and technological evolution as we strengthen our reputation as The Work Comp Experts.”

She called SFM “mission driven.”

“We have a safety-first mindset and we’re there for employers and their workers when injuries happen,” Aponte said. “We strive to have the right employees that believe in and support that mission, individuals who have the highest service standards and principles. SFM continues to seek policyholders that embrace our expertise, and we will be around to fulfil the long-term promises we make.”

For his part, Miller lauded Aponte’s financial acumen and vision for SFM, and fully expects her to build on the company’s steady growth and success.

“We’re proud of Amanda’s accomplishments, and I have the utmost confidence in her ability to lead our company and take SFM to new heights,” he said.

Miller’s last day with SFM is set for Jan. 8, 2027.

New CFO

As part of Aponte’s transition to President-elect, Ben Sorensen has been promoted to Chief Financial Officer.

Sorensen, who has been with SFM for nearly four years, has spent his entire career in the insurance industry. Previously the company’s Corporate Controller, he oversaw SFM’s Finance team.

“I’m excited for the challenge and to continue engaging with our external partners and teams across the company in support of SFM’s continued success,” said Sorensen, who has a degree in finance and economics from the University of Minnesota’s Carlson School of Management. “I’m looking forward to ensuring that the company’s financial position continues to promote sustainable, profitable growth, which in turn supports SFM’s mission and our ability to take care of all of our stakeholders.”

Aponte said she was excited about Sorensen taking on the CFO position.

“Ben brings deep experience in financial planning and analysis, along with a strong focus on learning and growth,” she said. “His curiosity and collaborative mindset will further strengthen alignment between our Finance and Analytics teams as they partner to deliver data-driven insights and solutions that move the business forward.”

About SFM

SFM, headquartered in Bloomington, Minn., is a customer-owned mutual insurance company providing employers with workers' compensation coverage across 34 states. SFM offers workers' compensation insurance solutions for employers of all sizes, including claims and disability management, cost containment, legal assistance and third-party administration. For more information, visit sfmic.com.

Happy Wednesday! In this week’s Big I Buzz: AI-powered Honeycomb raises $40M for its no-inspection landlord insurance platform, and Colorado State University updates its Atlantic hurricane season forecast.

The Insurer That Never Sends an Inspector

Honeycomb Insurance announced this week that it has raised $40 million from investors supporting its no-inspection landlord insurance AI platform. The Series C funding round was led by Zeev Ventures, with participation from existing investor Ibex Investors, along with new investors Peakline, Alpha Partners, Meitar Partners, Practical VC, and former San Francisco 49ers Super Bowl champion Harris Barton.

The capital will support expansion into additional states, enhancements to agent-facing tools, and development of new product lines beyond its core apartment and condo association coverage. Read more here.

CSU Adjusts Atlantic Hurricane Season Forecast Due to Emerging El Nino

Colorado State University hurricane researchers have slightly reduced their original forecast for the 2026 Atlantic hurricane season, citing the growing likelihood of an El Niño developing this summer.

The updated outlook now calls for a below-average season with 11 named storms, 5 hurricanes, and 2 major hurricanes. The April 2026 forecast had predicted 13 named storms, 6 hurricanes, and 2 major hurricanes. By comparison, a typical Atlantic season produces 14 named storms, 7 hurricanes, and 3 major hurricanes.

Researchers also note that cooler-than-normal water temperatures in the central and eastern tropical Atlantic are contributing to the expectation of reduced hurricane activity. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: Wisconsin unveils new ATV and UTV laws, and how older workers are reshaping the labor market.

Wisconsin unveils new UTV/ATV laws in effect beginning June 1st

New laws designed to improve safety for ATV and UTV operators and passengers officially took effect in Wisconsin on June 1. Key changes include:

• All occupants must wear a seatbelt.

• Passengers may only ride in factory-installed seats—cargo box riding and improvised "bump seats" are prohibited.

• New window tint regulations now align more closely with those for standard passenger vehicles.

• Towing anything with people on board is prohibited on public trails.

• Intentional property damage can result in fines up to three times the cost of repairs.

The Wisconsin Department of Natural Resources (DNR) encourages all riders to familiarize themselves with the new requirements before hitting the trails this summer. Read more here.

How Older Workers Are Reshaping the Labor Market

A new report reveals that nearly one in four U.S. workers is now age 55 or older, underscoring a significant demographic shift that is changing retirement patterns, labor availability, and workforce stability across industries.

According to the Workforce Aging Report, workers age 55 and older now make up 23.2% of the workforce, up from 22.1% a decade ago. Employment among older workers has grown 17.3% since 2014, outpacing overall workforce growth of 11.7%.

The report notes that valuable experience and institutional knowledge are increasingly concentrated among older employees, while some occupations are struggling to attract enough younger workers to replace those who retire or leave the workforce. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: why environmental liability risks are becoming more complex. Plus, signs that personal lines rate increases may finally be slowing down.

Why Environmental Liability is Becoming a Bigger Concern for Businesses
Environmental liability exposures are evolving quickly as businesses face growing scrutiny around emerging contaminants, litigation trends, and regulatory changes. According to a recent report highlighted by Gallagher, issues such as PFAS contamination, social inflation, and nuclear verdicts are reshaping how environmental risks are evaluated and insured.

“Nuclear verdicts” — exceptionally large jury awards — continue to place pressure on liability markets across multiple industries, especially construction, transportation, manufacturing, and environmental services. At the same time, carriers are paying closer attention to emerging contaminants and long-tail environmental exposures that may not have been fully considered years ago.

For businesses, this means stronger documentation, risk management practices, and operational controls are becoming even more important when it comes to securing favorable insurance terms and protecting against future claims. Read more here.

US Personal Lines Insurers Ask for Less Rate After Period of Catch-Up
After several years of significant premium increases, new data suggests that personal lines rate hikes may finally be moderating. According to a recent AM Best report highlighted by Insurance Journal, approved homeowners insurance rate increases averaged 8.3% in 2025, down from 13.5% in 2024. Private passenger auto rate increases also slowed, averaging 3.7% compared to 9.7% the prior year

Industry analysts believe many insurers have now “caught up” after multiple years of aggressive pricing adjustments tied to inflation, catastrophe losses, repair costs, and underwriting challenges. Improved underwriting results, refined pricing models, and stronger profitability in both homeowners and auto lines have reduced the need for the large rate filings seen over the past several years.

While rates are still increasing in many areas, the pace of those increases appears to be slowing as insurers regain profitability and market conditions begin to stabilize. Experts note, however, that catastrophe exposure, economic uncertainty, and claims costs continue to remain important factors influencing future pricing trends. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: what to know about the potentially record-breaking El Nino. Plus, insurance details that often confuse homeowners.

What to know about the predictions for a potentially record-breaking El Nino

Seasonal models are predicting an El Niño climate pattern that could become one of the strongest on record, potentially bringing more extreme weather conditions around the globe. According to the World Meteorological

Organization (WMO), an El Niño event is expected to develop later this year, influencing global temperatures and rainfall patterns.

While forecasts point toward a potentially strong event, the WMO also noted that spring forecasts tend to be less reliable, making long-range predictions more challenging.

El Niño is a naturally occurring climate pattern marked by warmer-than-average ocean temperatures in parts of the equatorial Pacific Ocean, which can significantly impact weather patterns worldwide. Its counterpart, La Niña, is characterized by cooler-than-average ocean temperatures. Read more here.

Insurance details that often confuse homeowners

According to a recent report from The Zebra, rising insurance costs are becoming an increasingly important factor in housing affordability — especially for first-time homebuyers.

The report found that the average U.S. homeowner now pays about $2,966 annually for homeowners insurance, while residents in high-risk states face even steeper costs. Researchers also found that many buyers underestimated insurance expenses, expecting to pay around $2,692 annually but ultimately paying closer to $2,887.

For many homeowners, confusion around how insurance works — and exactly what their policy covers — can add even more frustration to the homebuying process. 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 join our emailing list.

The IIAW is excited to welcome registered InsurCon2026 attendees to Stadium View Bar & Grill on May 20, 2026 for an evening of food, networking, and fundraising in support of the Insuring Wisconsin Political Action Committee (PAC).

Thanks to the generosity of our IIAW Board of Directors members, attendees will have the opportunity to bid on a variety of exciting silent auction packages throughout the evening.

All proceeds from the silent auction benefit the Insuring Wisconsin PAC, supporting advocacy efforts that protect and strengthen Wisconsin’s independent insurance agents and the clients they serve.

Direct Donations

In addition to the silent auction, attendees will also have the opportunity to make direct donations to the Insuring Wisconsin PAC during the event. Guests who donate $50 or more will receive a chance to win a prize at our Punch-A-Prize game!

Here’s a sneak peek at some of the silent auction items attendees can look forward to bidding on:

All Things Luxembourg Basket

Estimated Value: $250
Donated By: Mike Ansay, Ansay & Associates

Experience the charm, flavors, and craftsmanship of Luxembourg with this one-of-a-kind collection curated through Ansay International in Port Washington. Featuring specialty foods, beverages, and artisan goods sourced directly from Luxembourg, this basket includes exclusive products not otherwise available in the United States. From small-batch wines and beer to gourmet sauces and artwork, this package offers a truly unique cultural experience for food, beverage, and travel enthusiasts alike.

Spa Day Escape Basket

Estimated Value: $250
Donated By: Andrea Nelson, Unisource Insurance Associates

Relax and recharge with this luxurious spa-inspired package designed for the ultimate self-care day. The basket features premium skincare favorites, a cozy L.L.Bean spa robe, indulgent chocolates, a beautifully scented candle, and a bottle of rosé to complete the experience. Whether you’re planning a quiet evening at home or a full weekend reset, this basket delivers comfort and relaxation from start to finish.

Badger Basketball Tickets & Potosi Brewing Co. Basket

Estimated Value: $250
Donated By: Craig Jorgenson, TRICOR Insurance

Celebrate Wisconsin tradition with this fun-filled package featuring two Wisconsin Badgers men’s basketball pre-season tickets paired with a collection of favorites from Potosi Brewing Company. Along with a $50 brewpub gift card, attendees can bid on brewery-themed merchandise, beverages, and other Wisconsin-inspired goodies. Perfect for sports fans, beer lovers, or anyone looking for a classic Badger State experience.

Date Night In Basket

Estimated Value: $200
Donated By: Beth DeLaForest, Aspire Insurance Group

Create the perfect cozy evening at home with this thoughtfully curated date night package. Featuring a soft blanket, Solo Stove tabletop fire bowl, premium wines, and sweet-and-salty treats, this basket is designed for relaxing nights and memorable moments. Whether you’re planning a quiet evening indoors or entertaining friends, this collection brings warmth and comfort together in one inviting package.

Bourbon & Cigar Night

Estimated Value: $350
Donated By: Jason Knockel, Kunkel & Associates

Enjoy the ultimate night in with this premium bourbon and cigar experience. Featuring sought-after bottles including Blanton’s Single Barrel Bourbon and Weller Special Reserve, this package also includes a premium cigar, whiskey glass, and cigar accessories to complete the setup. Perfect for bourbon enthusiasts or anyone who appreciates a top-shelf evening of relaxation and celebration.

Party Like It’s 1776!

Estimated Value: $200
Donated By: Andrea Nelson, Unisource Insurance Associates

Get ready to celebrate in patriotic style with this spirited Americana-themed basket. Packed with festive entertaining pieces, themed décor, and a bottle of 2XO American Oak Whiskey, this package is perfect for summer gatherings, holiday celebrations, or anyone who loves red, white, and blue. It’s a fun and festive way to commemorate 250 years of American freedom.

Martini Basket
Donated By: Brad Reitzner, M3 Insurance

Shake things up with this stylish Martini Basket! Featuring everything needed for a fun and sophisticated cocktail night, this basket is perfect for martini lovers and happy hour enthusiasts alike. A classy addition to any evening in or celebration with friends!

4th of July BBQ Basket

Estimated Value: $250

Donated By: Adam Coole, The Insurance Center

Fire up the grill with this BBQ Kit Basket packed with essentials for your 4th of July cookout! Perfect for BBQ lovers looking to elevate their summer gatherings and outdoor cooking experience.

Office Gadget Basket

Estimated Value: $500

Donated By: Dan Lau, Robertson Ryan Insurance

Upgrade your workspace with this fun and functional Office Gadget Basket! Featuring a Kindle Scribe as the centerpiece, this package is perfect for note-taking, reading, organizing ideas, and boosting productivity. Paired with a variety of additional office and tech accessories, this basket is packed with useful tools and gadgets to elevate any desk setup at home or in the office.

2 Outdoor Club Packers Tickets

Estimated Value: $1070

Donated By: Dave Stiehl, Apex Insurance Group

Cheer on the Green Bay Packers with two Outdoor Club tickets for a mutually agreed upon regular season game. Located in Section 411, Row 4, these seats offer an incredible game day atmosphere and unforgettable Lambeau Field experience.

Pot of Gold Lottery Basket

Estimated Value: $300

Donated By: Evan Leitch, IIAW

Feeling lucky? This basket is packed with the chance to strike it big — featuring more than 20 scratch-off lottery tickets tucked inside a festive pot of gold. To top it off, enjoy a spirited selection including Jameson Irish Whiskey, Goldschläger, and Shanky’s Whip Irish Whiskey Liqueur.

We can’t wait to welcome attendees to this unforgettable evening of networking, fundraising, and fun during InsurCon2026. Be sure to stop by the silent auction tables on May 20 and place your bids before the night ends!

Happy Wednesday! In this week’s Big I Buzz: the 2026 Insurance Power Players are announced. Plus: how business leaders are viewing insurance as a strategic resilience tool.

Announcing the 2026 Insurance Power Players

The IIAW is proud to introduce the 2026 Insurance Power Players — a new recognition honoring standout professionals making a meaningful impact across the independent insurance industry.

This inaugural group represents exceptional leadership, innovation, and influence. The honor recognizes individuals who not only excel within their own organizations, but also make lasting contributions that help strengthen and advance the profession. Read more here.

Business Leaders Recast Insurance as Strategic Resilience Tool, Not Just a Cost

A global survey found that 87% of C-suite leaders expect commercial insurance to become increasingly strategic over the next three years, according to a report from the Worldwide Broker Network and MarshBerry.

Nearly half of respondents identified proactive risk management as one of the most critical pillars of organizational resilience, second only to innovation and digital transformation. Workforce adaptability and crisis preparedness also ranked among the top priorities. 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 join our emailing list.

The Independent Insurance Agents of Wisconsin is proud to introduce the 2026 Insurance Power Players—a new recognition celebrating standout professionals who are making a meaningful impact across the insurance industry.

This inaugural group represents exceptional leadership, innovation, and influence. This honor highlights those who not only excel within their own organizations, but also make meaningful, lasting contributions that strengthen the profession.

The 2026 Power Players are featured in the May/June edition of the Wisconsin Independent Agent magazine, where you can read more about each honoree. Read the full issue!

Meet the 2026 Honorees

• Steve Albinger – Couri Associates

• Rachel Ansay Neva – Ansay & Associates

• Patti Blaschka – Robertson Ryan Insurance

• Marco Briceno – Liberty Mutual 

• Tad Cleveland – Wisconsin Compensation Rating Bureau

• Brandy Enger – Vizance

• Dan Gluch - SECURA Insurance

• Chris Halverson – M3 Insurance

• Mike Happe – SFM

• Josh Johanningmeier – Godfrey & Kahn

• Mike Johnson – Hausmann Group

• Jae Junkunc – Marquette University

• Sara Kekula – M3 Insurance

• Evan Leitch – IIAW

• Ryan Leitch – Leitch Insurance Group

• Kate Manthey – UW Oshkosh

• Tom McInerny – R&R Insurance Services

• Jen Pino-Gallagher – M3 Insurance

• Jacob Rehm – Professional Insurance Programs

• Patrick Roe – Arlington/Roe

• Christine Rogers – Robertson Ryan Insurance

• Mike Tietz – IMT Insurance

• Brooke Van Asten – Acuity Insurance

• Megan Wencel – McClone Insurance

• Jenna Zalud – Burns & Wilcox

• Chris Zwygart – West Bend Insurance Company

Join Us in Celebrating

We look forward to recognizing this year’s honorees in person at InsurCon2026, taking place May 20–21 at Lambeau Field in Green Bay. Power Players will be honored on May 21 during the Evening Tailgate Celebration.

Congratulations to all of the 2026 Power Players—we’re proud to celebrate your accomplishments and the impact you continue to make across the insurance community.

Happy Wednesday! In this week’s Big I Buzz: the IIAW advocates in Washington, D.C.—plus, a look at how distracted driving is evolving.

On the Hill: IIAW Represents Wisconsin Agents

Members of the IIAW staff and Board of Directors traveled to Washington, D.C., April 22–24 for the Big “I” Legislative Conference. While on Capitol Hill, they met with lawmakers to advocate for the independent agency system and key issues impacting our industry.

Discussions focused on legal reform, disaster mitigation, reauthorization of the National Flood Insurance Program (NFIP), a long-term extension of TRIA, and greater transparency in health care pricing.

Wisconsin was also recognized with the InsurPac Eagle Award for surpassing an average of $100 in contributions per agency in 2025. Read more here.

Distracted Driving Evolves, Creates New Risks for Insurers

April’s Distracted Driving Awareness Month reinforces a clear message: distraction behind the wheel isn’t going away – it’s becoming harder to detect.

While texting and driving remains a concern, it’s now just one part of a broader and less visible issue. Today’s distractions extend beyond mobile phone use and younger drivers, often occurring even when a driver’s eyes are on the road and hands are on the wheel.

As these behaviors evolve, they present new challenges and risks for insurers. 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 join our emailing list.

George’s career began after graduating from the University of Wisconsin in 1976 with a degree in Risk Management and Marketing. From there, he spent eight years in insurance company marketing roles, including as a marketing representative with St. Paul, Crum & Forster, and CNA. At age 30, George transitioned into sales with the James S. Kemper Agency, which later became Rollins Burdick Hunter and was eventually acquired by Aon in the late 1980s.

At age 47, George joined Robertson Ryan as Vice President, where he continued building a distinguished career rooted in relationships, expertise, and trust. Within five years, he became a partner in the firm, a testament to his leadership, production capabilities, and commitment to the business.

Beyond insurance, George has also spent the past 20 years involved as an angel investor or, as he described it, serving as a bit of a “shark” in the entrepreneurial world.

When reflecting on his career, George is quick to credit the people who have helped shape it. He shared that over the past 50 years, he has had the opportunity to work with “some of the top underwriters in the U.S.” and many associates he considers “best in class.” He also expressed special appreciation for Bonnie Johnson, who has worked alongside him for 37 years. In George’s words, Bonnie is the “best assistant in the U.S.”

Most importantly, George leaves the industry with deep gratitude. As he put it, he has been “blessed with a great career, family, and friends” and “wouldn’t change a thing.”

On behalf of IIAW, we thank George for his many contributions to the independent agency system, his leadership within the industry, and the relationships he has built throughout Wisconsin and beyond. Please join us in congratulating George on an extraordinary career and wishing him the very best in retirement.

Happy Wednesday! In this week’s Big I Buzz: Wisconsin OCI shares a summary of new health insurance laws, and workers’ comp networks show significant cost savings while improving access to care.

New Health Insurance Laws | Wisconsin OCI Bulletin – April 20, 2026

A new bulletin highlights recently enacted laws impacting the insurance industry. The Wisconsin Office of the Commissioner of Insurance (OCI) released this summary to help insurers, agents, and other stakeholders stay informed on key updates. Read more here.

Workers’ Comp Provider Networks Cut Total Claim Costs by 26%, Drive Faster Access to Care

Workers’ compensation networks are reducing overall claim costs and helping injured employees access care faster. According to research from the Workers’ Compensation Research Institute, networks lower total claim costs by 26% and shorten disability duration by an average of 1.5 weeks.

The study—analyzing lost-time claims across 34 states through March 2024—also found medical payments decreased by 27% (about $3,500 per claim at 12 months), with a shift toward more conservative treatments and fewer surgeries and injections. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: a new assignment of benefits law is signed, and severe storms impact Wisconsin.

Governor Evers Signs Assignment of Benefits Consumer Protection Bill

On April 8, 2026, Governor Tony Evers signed Senate Bill 531 into law—a key consumer protection measure addressing post-loss assignment of benefits in property insurance. This was a legislative priority at the IIAW/PIA Legislative Day on the Hill event held last year.

This legislation was introduced by Rep. Callahan (R-Tomahawk) and Senator Felkowski (R-Tomahawk) and is intended to prevent inflated claims, reduce litigation, and curb insurance fraud by strengthening oversight, requiring clear policyholder notifications, and protecting the rights of insureds throughout the claims process.

Passage of this new law was made possible through the combined efforts of our IIAW members, carrier partners, WIA and the PIAW. Read more here.

Tornadoes, Huge Hail Tear Through Wisconsin and Iowa

Tornadoes and baseball-sized hail swept through parts of Wisconsin and Iowa Tuesday evening, causing significant damage, including destroyed homes.

The storms are part of a multi-day system that began Monday and is expected to continue through the week, impacting areas from the southern Plains to the Upper Midwest and Great Lakes. Since Monday night, more than two dozen tornadoes have been reported from eastern Kansas to southern Minnesota and Wisconsin, along with nearly 100 reports of large hail ranging from lime- to softball-sized. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: Governor Evers signs a workers compensation bill, and the Wisconsin State Patrol highlights safety in work zones and emergency response areas.

Governor Evers Signs Comp Bill

Wisconsin Governor Tony Evers has signed a comprehensive workers compensation bill that increases benefits, expands coverage for first responder mental health claims, and strengthens penalties for businesses operating without insurance.

The legislation (A.B. 651) also reverses a state Supreme Court decision allowing the stacking of disability percentages and clarifies that the statutory deadline for filing occupational disease claims cannot be extended indefinitely.

According to Gov. Evers, the measure reflects recommendations from the Workers’ Compensation Advisory Council and is intended to improve benefit adequacy, efficiency, and overall program integrity. Read more here.

Wisconsin State Patrol Warns Drivers of the Dangers of Cell Phone Use in Work Zones and Emergency Response Areas

As part of its April Law of the Month, the Wisconsin State Patrol is reminding drivers that hand-held cell phone use is prohibited while traveling through and within 500 feet of work zones, utility work areas, and emergency response scenes—except to report an emergency.

Cell phone use remains one of the leading driver distractions, increasing the risk of serious crashes. Workers in these areas are especially vulnerable, and the State Patrol urges all motorists to stay alert, put their phones down, and help keep Wisconsin roads safe. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: Governor Evers vetoes venue bill AB 225, and hailstorms now rival category 4 hurricanes in financial impact.

Governor Evers Vetoes Venue Bill AB 225

Governor Tony Evers has vetoed Assembly Bill 225, which sought to modify how venue is determined in civil actions and special proceedings involving corporate and business entities. The bill would have narrowed where cases could be filed by redefining where a business “resides” and conducts “substantial business,” and by limiting the court’s ability to consider certain parties when evaluating venue. In his veto message, Governor Evers expressed concerns about restricting judicial discretion and noted that existing law already allows courts to assess venue based on the interests of justice and the convenience of the parties or witnesses. He also raised concerns that the bill’s narrower definitions could lead to more, rather than fewer, venue challenges—particularly in cases involving out-of-state entities doing business in Wisconsin. Read more here.

Hailstorms Now Rival Category 4 Hurricanes in Financial Impact

Hail is emerging as a major driver of insured losses, with today’s storms capable of causing damage on par with a Category 4 hurricane, according to a recent report from Cotality. For insurers and reinsurers, this trend underscores the need to shift away from reliance on historical averages and toward more precise, property-level risk modeling.

Cotality also emphasizes that effective recovery will require a coordinated, data-driven approach across the entire ecosystem—including insurers—to support faster, more resilient rebuilding in impacted communities. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: Fannie Mae and Freddie Mac roll back property insurance requirements. Plus: why explainability is now a regulatory requirement for AI compliance.

Fannie Mae and Freddie Mac Roll Back Property Insurance Requirements

In a positive step forward, the Federal Housing Finance Agency (FHFA), along with Fannie Mae and Freddie Mac, announced that they are removing and revising certain homeowners insurance requirements—changes that are expected to reduce costs and improve access to coverage for consumers.

Key updates include:

• Acceptance of Actual Cash Value (ACV) roof coverage for single-family homes and condos, providing a more affordable alternative to full replacement cost coverage.

• Simplification of the “maximum per-unit deductible” rule for condo properties, reducing complexity and easing compliance.

• Removal of prior guidance that added cost and administrative burden, helping streamline the process for lenders, agents, and consumers.

This represents meaningful progress. Importantly, these improvements reflect strong advocacy efforts, with the Independent Insurance Agents & Brokers of America (IIABA) playing a key role in elevating concerns and working with policymakers to drive these positive outcomes. Read more here.

AI Compliance Risk in Insurance: Why Explainability Is Now a Regulatory Requirement

Regulatory scrutiny around AI in insurance is intensifying, as enforcement actions and significant fines make it clear that opaque decision-making is no longer acceptable. In January 2026, regulators in New York and Georgia issued more than $100 million in combined penalties tied to compliance failures, including concerns around algorithmic accountability and parity violations. Meanwhile, states like Colorado and Virginia are rolling out stricter—and at times conflicting—requirements that extend beyond national guidance, adding complexity for insurers operating across multiple jurisdictions.

For claims adjusters, this evolving landscape raises expectations for documentation and decision support. AI-driven outcomes—such as claim denials, fraud flags, or severity assessments—must now be supported by clear, defensible explanations. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: record crop insurance participation and heavy feedback on a Medicare Advantage proposal.

Crop Insurance Hits All‑time High as 2026 Deadline Nears

As the March 16 sign-up deadline nears for 2026 spring-seeded crops, the National Crop Insurance Services (NCIS) is reporting record participation in U.S. crop and livestock insurance for the 2025 crop year.

In 2025, farmers purchased a record 2.54 million crop insurance policies, covering an all-time high of 561 million acres of farmland nationwide. Since 2021, nearly 117 million additional acres have been enrolled, meaning the program now covers the vast majority of eligible U.S. cropland. Read more here.

CMS Receives Record Comments on Medicare Advantage Payment Proposal

Federal regulators have received a record number of comments on a proposal to keep Medicare Advantage rates essentially flat next year, as insurers continue to push for higher reimbursement.

In January, the Trump administration proposed an average rate increase of less than 0.1% for Medicare Advantage plans in 2027, along with stricter guidelines for how plans adjust for members’ health risks. The proposal sparked strong reactions across the industry, prompting insurers and Medicare Advantage organizations to ramp up advocacy efforts through research, advertising campaigns, and large-scale signature drives. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: a survey finds only 3 in 10 Americans review their insurance annually. Plus: what employers are doing to expand grief and life-event support.

Only 3 in 10 Americans Review Insurance Annually

According to a new Big “I” survey, only 3 in 10 Americans (31%) review or shop for insurance each year. Many wait until premiums increase, a major life change occurs, or a coverage issue arises before taking a closer look at their policies. Despite the important role insurance plays in financial protection, many consumers only revisit their coverage when there’s a problem.

Nearly 9 in 10 Americans (88%) say having insurance is very or somewhat important to their financial security. Yet infrequent policy reviews can cause consumers to miss opportunities to better understand their coverage, manage costs, or ensure their policies still reflect their current needs.

Without regular check-ins, coverage can gradually drift out of sync with a consumer’s financial situation, assets or priorities—often going unnoticed until a claim, premium increase or coverage gap brings it to light. Read more here.

80% of Employers Are Expanding Grief and Life-Event Support

Employees often rely on workplace benefits during major life events, yet many say existing resources do not always fully meet their needs. According to the 2026 Workplace Benefits Report from Empathy, many employers are planning changes to address this area in the coming year.

The report found that more than 8 in 10 employers expect to expand bereavement support in 2026. At the same time, 95% of employees surveyed said bereavement-related benefits are valuable. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: highlighting key trends in insurance agency mergers and acquisitions, and a closer look at how health care spending varies across the population.

Insurance Agency Merger & Acquisition Trends

Mergers and acquisitions have become a major force in the independent insurance industry in recent years. With today’s market conditions, it’s more important than ever for agents to understand what these trends mean for buying, selling, and long-term perpetuation planning. Learn more from Security Financial Bank.

How Do Health Expenditures Vary Across the Population?

Each year, a small percentage of individuals account for a large share of total health care spending. While averages often dominate discussions about health costs, most people’s expenses fluctuate over time based on changing health needs—and very few actually spend close to the “average.”

This collection of charts analyzes data from the Medical Expenditure Panel Survey to show how health spending varies across the population. Read more to explore the trends.

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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: two-thirds of independent agents plan to increase AI use this year, and Wisconsin moves to expand postpartum Medicaid coverage.

Two-Thirds of Independent Agents Plan to Increase AI Use This Year

A new report from the Big I Agents Council for Technology reveals that two-thirds of independent insurance agencies plan to increase their use of artificial intelligence over the next 12 months.

Despite growing interest, many agencies remain in the early stages of adoption, with nearly one-third reporting they are not currently using AI. The primary drivers for adoption include improving operational efficiency and boosting staff productivity. However, data privacy and compliance risks remain top concerns.

The report brings together insights from independent agents, carriers, and technology providers to examine how AI, data, cybersecurity, and workflow complexity are reshaping the industry, and what must change to move forward responsibly. Read more here.

Wisconsin Moves to Expand Postpartum Medicaid Coverage

Republican state lawmakers who had long blocked a bipartisan measure to expand postpartum Medicaid coverage in Wisconsin now plan to advance the proposal, following pressure from Democratic leaders. Gov. Tony Evers is expected to sign the measure into law.

The legislation will extend Medicaid coverage for mothers to up to one year after giving birth. The proposal recently passed the Wisconsin Assembly with near-unanimous support and will leave Arkansas as the only state without expanded postpartum benefits. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: a study shows essential household costs are driving Wisconsin's affordability challenge. Plus: ChatGPT & Insurify launch an auto insurance comparison app.

Report: Essential Household Costs are Driving Wisconsin’s Affordability Challenge

A new report from Forward Analytics, the research arm of the Wisconsin Counties Association, reveals that while median wages in Wisconsin have generally kept pace with inflation over the past 25 years, many essential household expenses have increased at a much faster rate.

The study points to rising costs for necessities such as housing and healthcare as major factors putting pressure on household budgets across the state.

Preliminary estimates show that median household income in Wisconsin increased by 90% from 2000 to 2025, while overall costs of goods and services—measured by the Consumer Price Index—rose by 87% during the same period. However, essential expenses have outpaced both wage growth and inflation. Read more here.

ChatGPT and Insurify Launch Auto Insurance Comparison App  

Insurify, an online insurance comparison platform, has launched a new ChatGPT app that allows users to browse, research, and compare auto insurance directly through the platform’s app library.

This marks the first insurance-related app in ChatGPT’s library, sparking discussion across the industry, including concerns about potential market disruption.

The ChatGPT app library features a collection of tools and third-party integrations available within the ChatGPT app. The new Insurify digital insurance comparison tool lets consumers shop for and compare insurance quotes in one place. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: hear from IIAW CEO Matt Banaszynski on what’s ahead for Wisconsin’s auto insurance market—plus, the latest on the reauthorization of the National Flood Insurance Program.

Wisconsin Auto Insurance Rates Expected to Drop in 2026

Auto insurance premiums are beginning to stabilize nationwide, with data showing a 6% decrease in 2025. However, Wisconsin drivers may see mixed relief due to the state’s competitive market and regional risk factors.

IIAW CEO Matt Banaszynski was recently featured on WKOW 27 News, where he shared insights on the trends shaping Wisconsin’s auto insurance landscape. Read more here.

Brief Government Shutdown Ends as NFIP Reauthorized  

Congress brought a brief four-day partial federal government shutdown to an end on Feb. 3, reauthorizing the National Flood Insurance Program (NFIP) through Sept. 30.

The funding package approved by lawmakers included five full-year appropriations bills covering the Departments of Energy, Defense, Treasury, State, Labor, Transportation, Health and Human Services, and Education—supporting operations through the end of the fiscal year on Sept. 30.

Funding for the Department of Homeland Security was not included and was instead extended through Feb. 13, giving Congress additional time to review potential reforms. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: forecasters are calling for an active tornado season in the U.S., and new proposals in two states raise concerns about workers’ comp coverage for undocumented workers.

Active Tornado Season Expected in the US

Forecasters are predicting an active 2026 tornado season across the Central Plains, with activity expected to run 15% above the 20-year average, according to the Kansas Institute of Tornado Dynamics.

Several factors are contributing to the increased outlook, including ongoing La Niña conditions, warmer-than-normal Gulf of Mexico sea surface temperatures, and a strengthened low-level jet stream. Together, these conditions could lead to an estimated 1,450 to 1,600 tornadoes nationwide this year. Read more here.

No Comp for Undocumented Workers Risks Perils

Lawmakers in Florida and New Jersey recently introduced legislation that could limit workers’ compensation benefits for undocumented workers or shift liability away from insurers. While similar proposals have appeared in other states over the past decade, few have become law.

Florida’s H.B. 1307 is among the most far-reaching. The bill would require employers to verify work authorization through the E-Verify system before submitting a workers’ compensation claim. If an injured worker is found to be unauthorized, employers—not insurers—would be responsible for medical and indemnity costs.

In New Jersey, S.B. 1521 would restrict many undocumented workers from receiving wage-replacement benefits under workers’ compensation and temporary disability programs. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: widespread power outages as extreme cold sweeps the nation. Plus, Epic responds to claims from the Texas Attorney General.

Over 800,000 Without Power as Deadly Cold Grips the Country

A powerful winter storm brought dangerous cold, snow, and ice across much of the U.S. over the weekend, leaving more than 800,000 homes without electricity and resulting in at least 12 fatalities. The storm also caused major travel disruptions, with Sunday becoming the most severe day for flight cancellations since the pandemic, totaling more than 19,000 canceled flights.

Ahead of the storm, the National Weather Service warned of large areas facing heavy snow, sleet, and hazardous ice conditions, calling the system unusually severe for mid-winter. Federal emergency disaster declarations were issued in 12 states – Arkansas, Georgia, Indiana, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia and West Virginia – giving states access to federal assistance to support emergency response efforts. Read more here.

Epic Fires Back Against Texas AG in Electronic Health Records Lawsuit

Epic has formally contested allegations from the state of Texas that it holds an unlawful monopoly in the electronic health records market and limits parents’ access to their children’s medical information. In a court filing submitted this week, the company said the claims brought by Texas Attorney General Ken Paxton lack both legal and factual merit.

The lawsuit, filed last month, alleges that incomplete or outdated medical records negatively affected patient care across Texas. It also claims Epic’s practices increased costs for hospitals and patients while preventing the adoption of innovative healthcare technologies. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: industry risk trends from global insurers, an industry performance snapshot in P&C underwriting, and a notable civil court award in Wisconsin.

AI Rises as a Top Global Business Risk
Cyber incidents remain the number one global business risk for 2026, landing at the top of the latest Allianz Risk Barometer — and for the fifth straight year. Meanwhile, artificial intelligence surged to second place, climbing sharply from its 2025 position. Risks tied to AI include implementation challenges, liability concerns, and the potential for misinformation and deepfakes. Other top concerns for businesses globally include business interruption, regulatory change, natural catastrophes, and climate change. These rankings reflect how technology and operational risk are reshaping corporate risk priorities in 2026. Read more here.

Improved P&C Underwriting Results Through Q3 2025
The U.S. property and casualty (P&C) insurance market showed marked improvement through the third quarter of 2025, according to a recent AM Best report. Personal lines — particularly private passenger auto and homeowners/farmowners coverage — helped drive underwriting performance, offsetting a tougher start to the year marked by wildfires and severe storms. Net underwriting income reached roughly $35 billion for the first nine months of 2025, up from approximately $3.7 billion in the same period of 2024. Loss ratios in several personal coverage lines improved year over year, illustrating the impact of sustained pricing adequacy and risk management practices. However, some liability segments and workers’ compensation showed mixed results, and narrower underwriting margins raise questions about future trends if premium declines continue. Read more here.

$3.46 Billion Jury Award in Wisconsin Civil Suit
A Waukesha County jury awarded $3.46 billion in damages to state Senator Rob Hutton and his wife in a recent civil case. The eye-popping figure is widely viewed as symbolic, as Wisconsin law caps punitive damages — which means the full amount may never be paid as written. This verdict fits into a wider pattern often described in legal and insurance circles as “nuclear” verdicts — jury awards that are unusually large relative to the underlying harm. While some high awards are tied to clear, serious wrongdoing, others are driven by juror sentiment and broader trends in the civil justice system. Read more here.

For more industry news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to join our email list.

Happy Wednesday! In this week’s Big I Buzz: a look at why AI has surged to the second-largest global business risk, plus key insights families should know about insuring teen drivers.

AI Jumps to Second Place in Top Business Risks

Cyber incidents remain the top global business risk for 2026 for the fifth consecutive year, according to the Allianz Risk Barometer. Cyber risk was cited by 42% of respondents (up from 38% last year) and ranked as the leading concern across companies of all sizes.

Artificial intelligence made a significant leap, rising to second place after being cited by 32% of respondents, up from just 10% last year when it first entered the top 10. Risks tied to AI include implementation challenges, liability concerns, and the spread of misinformation and disinformation. Both cyber and AI now rank among the top five risks across nearly every industry sector. Read more here.

5 Things to Know About Insuring Teen Drivers

Insuring new, young drivers has always been costly, but in 2025, rising premiums have made coverage increasingly challenging for many families. According to The Zebra, the average annual cost to insure a 16-year-old driver exceeds $7,600. Premiums average $6,723 for 17-year-olds, $6,341 for 18-year-olds, and $5,620 for 19-year-olds.

In this article, PropertyCasualty360 outlines five important considerations for parents insuring teen drivers, from why teen boys typically cost more to insure than girls, to how location and vehicle choice can significantly impact rates. 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 join our emailing list.

Our insurance community is packed with people who don’t just do the job—they elevate the profession. They solve problems before they become claims, mentor the next generation before they’re asked, and bring new ideas to the table when it would be easier to stick with “how we’ve always done it.”

That’s why the IIAW is proud to launch our first-ever Top Insurance Power Players—a new recognition program celebrating the leaders who push our industry forward through client service, leadership, innovation, and industry advancement.

This is our moment to tell the stories we usually keep too quiet: the agency professional who builds a culture of excellence, the carrier representative who partners like an extension of the team, and the vendor partner whose solutions genuinely move the needle. If you know someone who deserves the spotlight, we’re asking you to help us identify them—and nominate them.

What is an “Insurance Power Player”?

An Insurance Power Player is someone who creates lift for everyone around them. In the nomination process, we’re looking for clear, real-world examples of:

• Leadership contributions (how they lead, what they’ve built, and who they’ve developed)
• Industry impact (how they influence the way our industry operates—customer experience, innovation, best practices, and even the regulatory environment)
• Measurable achievements (initiatives, outcomes, improvements—proof that the results are as strong as the reputation)

And importantly: this recognition is not limited to one “type” of leader. We’re seeking nominations across the ecosystem—agency professionals, carrier representatives, and vendor partners—because progress in insurance is a team sport.

How nominations work (and what we’re asking you to submit)

We designed the nomination form to be simple—but substantive. You’ll provide basic information about yourself and the nominee, then answer a set of prompts about leadership, achievements, and impact. If you want to strengthen a nomination, you can also include supporting materials—things like letters of recommendation, performance metrics, articles/publications, or evidence of board/community involvement. Think of it as building the business case for why this person belongs in the Power Players spotlight.

Most importantly: Nominations close February 28, 2026. If someone comes to mind, don’t wait until the last minute—future-you will be grateful, and present-you will look wildly competent.

Selection integrity: reviewed by IIAW staff and board leadership

Recognition means more when the process is credible. All nominations will be reviewed by a committee made up of IIAW staff and Board members. If a conflict of interest arises, the impacted committee member will recuse themselves.  That’s not just good governance—it’s how we protect the integrity of the honor and ensure Power Players truly represent excellence.

A quick note on storytelling: information included in the nomination, in part or in full, may be featured during the recognition event or in an IIAW publication. In other words: write it like it matters, because it might be read on a stage, printed in a magazine, and remembered long after the applause ends.

The big stage: honoring Power Players at InsurCon 2026 at Lambeau Field

Here’s the fun part.

The Top Insurance Power Players will be announced this spring, and we will recognize the honorees at InsurCon in May 2026 at Lambeau Field—an iconic venue for an equally iconic moment.

Our plan is to celebrate Power Players with a recognition experience that matches the caliber of the honor, including:

• Live recognition at InsurCon with a formal on-stage spotlight
• Editorial features that highlight what each honoree has accomplished (and why it matters to the broader industry)
• Event and digital visibility so the wider insurance community can learn from their example
• A Power Players plaque to display this achievement

Why does this matter? Because recognition isn’t just about applause—it’s about setting a standard. When we elevate the best of our industry, we create a blueprint for others to follow.

Insurance is changing fast. The expectations of clients are rising. The talent market is competitive. Technology is accelerating. And the definition of “service” is expanding beyond responsiveness into true advisory value. In that environment, leadership is not optional—it’s the differentiator.

The Insurance Power Players program is our way of saying: We see the people building the future of the insurance industry, and we’re going to celebrate them—loudly, proudly, and in a way that inspires the next wave of leaders.

Your call to action

If someone immediately popped into your head while reading this, that’s your sign. Nominate them today. Help us recognize the innovators, mentors, problem-solvers, and service champions who bring excellence to our industry. Submit your nomination by February 28, 2026, and be part of building a tradition our industry can rally around for years to come.

Happy Wednesday! In this week’s Big I Buzz: In this week’s Big I Buzz: trends insurance agents and brokers should watch in 2026, and why rising gold prices could mean it’s time to revisit jewelry coverage.

7 Trends for Insurance Agents & Brokers in 2026

As the new year gets underway, several themes are emerging across the industry. Insights from experts highlight key trends agents and brokers can expect to see in 2026, including the growing role of artificial intelligence in daily workflows, evolving cyber risks for agencies, and new approaches to attracting and retaining the next generation of insurance talent. Read the full list here.

As Gold Prices Soar, Jewelry Owners May Need More Coverage

With gold and other precious metal prices climbing, jewelry owners may want to take a closer look at their homeowners insurance coverage. Gold jewelry accounted for 54% of the $366.8 billion global jewelry market last year, according to Grand View Research. Standard homeowners policies typically provide limited coverage for jewelry (often capped at $1,000 or $2,500) leaving higher-value pieces underinsured. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: a federal reminder impacting Medicare Advantage commissions—plus a timely look at the most common insurance claims during the holiday season.

CMS: States Cannot Regulate Medicare Advantage Broker Compensation

The Centers for Medicare & Medicaid Services (CMS) issued a Dec. 4 memo reminding state insurance departments that federal law preempts state efforts to regulate Medicare Advantage (MA) broker compensation and marketing practices. The clarification follows heightened scrutiny during open enrollment, including a lawsuit filed by UnitedHealthcare against the Idaho Department of Insurance and recent emergency actions by some states aimed at limiting commission changes. CMS emphasized that MA compensation is governed by federal standards, even as insurers adjust commissions amid rising cost pressures. Read more here.

5 Common Causes of Christmastime Claims

The holiday season is one of the busiest times of year for insurance claims, as increased travel, decorating, hosting, and winter weather all raise risk. Understanding the most common causes of holiday claims can help insureds take preventative steps and avoid costly surprises in the new year.

Some of the most frequent causes of Christmastime claims include:

• Porch piracy 
• Fires 
• Car accidents 
• Winter weather 
• Guest actions

Encouraging safety awareness during the holidays can go a long way in reducing risk and protecting both homes and businesses. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: a Zillow update highlights the challenges of climate-risk data, and California moves closer to allowing driverless trucks on its highways.

Zillow Deleting Climate Risk Scores Reveals Limits of Flood, Fire Data

Zillow recently removed climate risk scores from its home listings after receiving a complaint from the real estate industry. The move sparked conversation across news outlets and social media, with many noting that eliminating the data doesn’t eliminate the underlying risk.

As severe weather becomes more common, homeowners and buyers need insight into a property’s exposure to flooding or wildfire. Advanced climate-risk ratings — like those Zillow discontinued — can provide more current insights than many federal flood maps or state wildfire maps.

However, research shows that these tools are still evolving, and different models can produce varying results, underscoring the ongoing complexity of climate-risk assessment. Read more here.

Driverless Trucks Could Soon Be Headed to California Highways

California motorists are already sharing roads with driverless cars, and autonomous big-rigs may be next. The California DMV has released another round of proposed regulations for a statewide testing program involving self-driving trucks weighing over 10,000 pounds. Watch the report from NBC Bay Area and 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 join our emailing list.

The holidays can be a time of connection - but also, a quiet struggle for many. Between year-end goals, heavy workloads, and personal responsibilities, this season can take a real toll on our mental and emotional health. That’s why it’s so important to pause, check in with ourselves, and look out for those around us.

Today, we’re proud to highlight one of our new collaborators for 2026 - Project 55.

Founded by Justin Goodman and Brenden Corr, Project 55 was built to educate, equip, and empower everyone in our industry to better understand mental health and be ready to respond when it matters most.

Offering a FREE world-class mental health training, tools, resources, and community support - Project 55 helps individuals and organizations foster healthier, more resilient teams and create workplaces where people feel seen, supported, and safe to speak up. Because the truth is, the insurance industry is built on helping others - yet so many within it are quietly struggling.

And the impact is already real. Thousands across the industry have signed up and begun the training, started new conversations in their offices, and begun shaping a more compassionate, connected culture. Project 55 is more than a program - it’s a movement to change how we talk about mental health at work.

The IIAW is thrilled to share that Brenden and Justin will be presenting at InsurCon2026 on “Quiet Signs, Clear Actions: Leading Mental Health at Work.”

This season, take a moment to check in - with yourself, your coworkers, and your community. Learn more or start the free training today at www.project55.org

Happy Wednesday! In this week’s Big I Buzz: the top U.S. airports for flight delays this holiday season, and changes coming to Wisconsin liquor laws.

The 5 Worst Airports for On-Time Flights this Holiday Season

AAA projects that 81.8 million people will travel at least 50 miles from home during the Thanksgiving period, from Tuesday, Nov. 25, through Monday, Dec. 1. This year’s domestic travel forecast includes 1.6 million more travelers than last year, setting a new record.

Weather challenges, heavy passenger volumes, and congested airspace are all contributing to expected delays as airports prepare for record-breaking crowds. According to Transfeero, these airports have the worst on-time performance heading into the holiday season:

1. Dallas Fort Worth International Airport (DFW)
2. Newark Liberty International Airport (EWR)
3. San Diego International Airport (SAN)
4. Hartsfield-Jackson Atlanta International Airport (ATL)
5. George Bush Intercontinental Airport, Houston (IAH)

Read more here.

Horse Out of the Barn on Toughened Wisconsin Liquor Laws

New liquor licensing requirements in Wisconsin will soon apply to all venues—including wedding barns—after a judge dismissed a challenge to the state’s major 2023 alcohol law overhaul. The lawsuit claimed the changes unconstitutionally targeted wedding barn businesses, but the judge sided with regulators, noting the state’s responsibility to prevent excessive drinking.

Beginning in 2026, barn owners must obtain either a traditional liquor license or a special permit allowing beer and wine service up to six times a year, according to Wisconsin Public Radio. Previously, wedding barns operated without these restrictions. 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 join our emailing list.

ALEXANDRIA, VA (November 19, 2025)—As insurance lawsuits hit record levels, a new survey from the Independent Insurance Agents & Brokers of America (the Big “I”) reveals growing concern that excessive and abusive litigation is driving up costs for consumers and reforms are needed.

According to the survey, 64.3% of respondents said they were concerned about how excessive lawsuits increase their premiums, and 80.5% believe that the legal system is used in ways that unfairly drive up insurance costs. Overwhelmingly, 8 in 10 (80.3%) respondents also believed that their premiums would increase due to excessive lawsuits, even if they had never filed a claim themselves.

“Consumers are absolutely correct. They are paying the price for unnecessary lawsuits in the form of higher insurance costs for their households,” said Charles Symington, Big "I" president & CEO. “The survey makes it clear: Americans want reform and accountability. Independent agents are working with their customers so they further understand the impact of lawsuit abuse and how to advocate for reform.”

Consumers also expressed skepticism about who truly benefits from lawsuits against insurers. Nearly three-quarters (73%) said attorneys and law firms profit most, compared to only 30.9% who believe consumers with valid claims benefit.

Third-Party Litigation Funding Drives Costs Even Higher

Despite awareness of traditional lawsuit abuse, many consumers remain unfamiliar with “third-party litigation funding,” a growing practice where outside investors finance lawsuits for profit. Nearly 40% said they were not at all familiar with this trend, underscoring a gap in public understanding of how global capital is increasingly driving U.S. insurance litigation and consumer costs.

Call for Action and Reform

Consumers aren’t just aware of the problem; they’re ready for change. The survey reveals overwhelming demand for action to rein in abusive litigation and restore fairness to the insurance system.

• 89.7% say it’s important to reduce unnecessary lawsuits to help control insurance costs.
• 84.3% would support reforms if they knew certain legal practices were making their insurance more expensive.
• A majority (54.8%) believe that the state and federal government should take the lead in addressing the issue, while many also pointed to insurance companies (33.6%) and courts (32.6%).

“Consumers overwhelmingly agree that unchecked litigation is not protecting them, it’s costing them. It directly affects their family budgets by adding thousands of dollars every year in unnecessary costs for their insurance and other products and services.” added Symington.

According to The Perryman Group, lawsuit abuse is costing the average American family $5135 a year. Another recent study from the Insurance Information Institute (Triple-I) and Munich Reinsurance America, Inc. (Munich Re US) estimates the impact is even higher—at more than $6,500 for a family of four. The Big “I” is working with a broad coalition of stakeholders across a variety of industries to educate consumers and legislators about litigation funding and hold those accountable for driving up insurance costs.

Methodology

National survey conducted by Mfour Data Research via mobile targeting consumers ages 25+ who have home, auto and/or business insurance.

About the Independent Insurance Agents & Brokers of America (the Big “I”)

Founded in 1896, the Independent Insurance Agents & Brokers of America (the Big “I”) is the nation’s oldest and largest national association of independent insurance agents and brokers, representing more than 25,000 agency locations. Big “I” members are trusted insurance advisers who offer consumers all types of insurance—property, casualty, life, health, employee benefit plans and retirement products—from a choice of insurance companies.

Happy Wednesday! In this week’s Big I Buzz: Wisconsin lawmakers consider updates to the state’s workers’ compensation system, and a new research institute—developed in partnership with UW–Madison—will take a deeper look at severe convective storms.

Wisconsin Lawmakers Weigh Workers' Comp Overhaul

Wisconsin lawmakers are reviewing Assembly Bill 651, which proposes several updates to the state’s workers’ compensation system. Key provisions include increasing the maximum weekly compensation for permanent partial disability and revising guidelines for compromise claim agreements and statute of limitations rules.

The bill reflects a consensus reached by the Wisconsin Workers’ Compensation Advisory Council, which provides recommendations to legislators and the Department of Workforce Development. Read more here.

New Institute to Study Severe Convective Storms

A new insurance research center—the Center for Interdisciplinary Research on Convective Storms (CIRCS)—has launched at Northern Illinois University in partnership with the University of Wisconsin–Madison. CIRCS aims to advance the understanding of severe convective storms, which are among the leading causes of costly insurance claims.

The center will focus on research that supports improved resilience, helping communities better withstand the impacts of convective storms. Approximately two dozen scientists from atmospheric science, engineering, geography, physics, computer science, actuarial science, and risk and insurance will contribute to its work. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: thousands of Wisconsinites could lose Obamacare coverage if federal subsidies expire, and new data shows more Americans are moving away from flood-prone areas.

Up to 60,000 Wisconsinites Could Lose Obamacare Coverage if Subsidies Expire

Between 40,000 and 60,000 Wisconsinites who purchase health insurance through the Affordable Care Act could lose their coverage if Congress fails to extend subsidies that lower plan costs, according to Wisconsin Insurance Commissioner Nathan Houdek.

The subsidies have driven record-high enrollment in Wisconsin’s ACA marketplace this year, with roughly 300,000 residents signing up for coverage. If the enhanced subsidies expire at the end of the year, those gains could be reversed. Read more here.

Americans Are Moving Out of Flood-Prone Neighborhoods

For the first time since 2019, U.S. counties at the highest risk of flooding saw more residents moving out than in — about 30,000 more people left than arrived, according to a new Redfin report.

The trend marks a shift from the pandemic years, when remote workers flocked to coastal and Sun Belt regions. Despite the outflow, some of those high-risk counties still experienced overall population growth due to strong immigration from abroad.

Of the 310 counties identified as high flood risk, 132 saw net population losses while 178 saw gains — but the number of people leaving outpaced those arriving. 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 join our emailing list.

Happy Wednesday! In this week’s Big I Buzz: ACA premiums show signs of long-term stability, and Wisconsin’s ginseng industry faces mounting pressures.

ACA Premiums Stabilize, Nearly Mirroring Employer-Sponsored Coverage Costs

Premiums for Affordable Care Act (ACA) individual-market plans have leveled off after years of fluctuation and are now approaching cost levels similar to employer-sponsored coverage. This shift reflects a narrowing gap that once existed due to higher risk pools and limited enrollment in the individual market. Analysts note that average per-member premiums in the individual market are now nearly on par with those in fully insured employer plans—an important trend to watch when advising clients on coverage options. Read more here.

China Trade Spat Threatens Wisconsin’s ‘Napa Valley’ of Ginseng

Nearly all U.S. ginseng is grown in Marathon County, Wisconsin—often referred to as the “Napa Valley of Ginseng” due to its ideal soil and climate. Most of the harvest is dried and exported to China, where Wisconsin ginseng is prized for its quality. However, worsening U.S.-China trade tensions, a slowing Chinese economy, and competition from lower-cost Canadian producers are straining the industry. Once home to roughly 1,400 growers, the state now has fewer than 70, as rising input costs and unstable export markets make production increasingly difficult. 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 Illinois Department of Insurance requests policyholder relief during the federal government shutdown, and the top automobiles for customer satisfaction in 2025 are revealed.

Illinois Department of Insurance Asks Insurers for Policyholder Relief During Shutdown

The Illinois Department of Insurance (IDOI) is urging insurers to provide relief to policyholders affected by the ongoing federal government shutdown to ensure they do not lose insurance coverage.

The department noted that more than 153,000 Illinois residents employed by the federal government have been impacted since the lapse in federal appropriations began on October 1. To support these consumers, IDOI is asking insurers to consider measures such as temporary moratoriums on cancellations and extensions for payment or repair timeframes. Read more here.

Top Automobiles for Customer Satisfaction in 2025

Driver satisfaction with the auto industry has dipped slightly in 2025, according to the American Customer Satisfaction Index (ACSI). Longer loan terms have increased consumer focus on vehicle reliability and dependability, as many drivers continue making payments beyond their warranty periods.

According to ACSI, Subaru, Mazda, and Toyota ranked highest among automakers for customer satisfaction this year. See the full list and 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: understanding bank requests for additional insured status, and what to expect from the upcoming winter forecast.

Understanding Bank Requests for Additional Insured Status

In this two-part series, a risk expert breaks down a common yet often misunderstood request from banks in commercial lending — asking borrowers to name the lender as an “Additional Insured” on their general liability policy.

Read Part 1: Banks Should NOT Be Asking for Additional Insured Status

Read Part 2: Banks Improperly Requesting Additional Insured Status

Farmers' Almanac Winter Forecast for 2025-2026: A Long Season of Cold, Snow Across US

The 2025–2026 winter may not be as extreme as last year’s record-setting cold, but expect plenty of snow and frigid temperatures. According to the newly released Farmers’ Almanac Winter Forecast, much of the country will see a “Chill, Snow, Repeat” pattern throughout the season.

While the upcoming winter may not bring a repeat of last year's prolonged bone-chilling cold, the Almanac warns that “this winter’s shaping up to be a wild ride.” 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: a Wisconsin contractor is fined for acting as a public adjuster, and climate risk remains a growing concern across the insurance industry.

Wisconsin Contractor Fined for Acting as a Public Adjuster

Wisconsin Insurance Commissioner Nathan Houdek issued a final decision imposing $6,000 in civil forfeitures after determining that a contractor acted as a public adjuster under Wisconsin law. This subjected the contractor to the standards outlined in Wis. Stat. ch. 629, which he violated through prohibited and fraudulent practices.

The contractor’s business model combined home repair services with “claim assistance” through assignments of benefits, which violated state law. Under Wis. Stat. § 629.10(3), individuals acting as public adjusters cannot have a financial interest in the subject of a claim beyond the compensation established in their contract. Read more here.

Most Insurance Execs Fear the Industry Isn’t Ready for Climate Risk

A new study from ZestyAI found that the insurance industry remains unprepared for climate-driven risks, even as natural disasters become more frequent, severe, and costly. According to the report, 61% of insurance executives believe the industry is not adapting quickly enough to climate-related threats.

Many insurers continue to rely on traditional actuarial and stochastic models, which were built for more stable conditions and fail to reflect today’s complex, property-specific loss patterns. ZestyAI’s leadership emphasized that the industry must evolve its risk modeling to match the realities of a changing climate and that AI-driven, property-level models can provide more accurate insights, improve transparency, and help all stakeholders strengthen resilience. 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: an update on claims processing timelines from Wisconsin OCI, and a look at how wealthy consumers are shaping the auto insurance market.

Wisconsin OCI Bulletin: Claim Processing Timelines

The Wisconsin Office of the Commissioner of Insurance recently issued a bulletin to property and casualty insurers and Interested parties to remind insurers of the 30-day time to process claims.

Timely claims handling is critical, as it helps consumers meet important deadlines for FEMA funding eligibility. Read the bulletin here.

Wealthy Consumers Drive the Auto Insurance Market in 2025

A new study from The Zebra reveals that affluent consumers are fueling the auto insurance market through increased spending and luxury vehicle ownership. Since 2020, insurance shopping for top luxury cars has surged 116%, while luxury insurance rates have climbed 56% over the past five years—compared to 41% for non-luxury vehicles.

According to the study, the top 10% of spenders now account for a disproportionate share of the industry’s overall growth. 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.

That’s why Agency Compensation 360 was created. It's an industry-wide initiative to collect accurate, Wisconsin-specific compensation data from independent agencies of every size and type.

Why a Wisconsin-Specific Compensation Survey Matters

Independent agencies in Wisconsin span everything from small-town, family-run shops to large, multi-location firms. National or generalized compensation data can’t capture that diversity, leaving owners without reliable benchmarks.

Accurate compensation data matters because it helps you:

• Attract and retain top talent: Competitive pay structures ensure you’re not losing employees to competitors.
• Make smarter business decisions: Reliable benchmarks give you confidence in budgeting, hiring, and growth planning.
• Strengthen your agency’s future: Aligning compensation with industry standards protects your agency from turnover and helps sustain profitability.

The Opportunity Is Now

The Agency Compensation 360 survey is live right now, and we need participation from independent agency owners across Wisconsin. The more agencies that complete the survey, the stronger and more accurate the results will be.

But here’s the catch: Only agency owners and principals who complete the survey by November 2 will gain access to the interactive results dashboard in November. This tool will allow you to see compensation trends across agencies in Wisconsin – finally giving you the data you need to make confident decisions.

Don’t Miss Out

Independent agents have never had access to this kind of Wisconsin-focused compensation data before. Don’t be left in the dark while your peers gain insights that could reshape their compensation strategy.

Start the Survey Today

Happy Wednesday! In this week’s Big I Buzz: How the government shutdown could impact insurers.

Lengthy Government Shutdown to Impact Insurers, Says AM Best

As the government shutdown begins, AM Best warns of potential ripple effects across the insurance industry. The extent of disruption will depend on how long the shutdown lasts—previous shutdowns have generally been brief, with the longest in recent history (December 2018) lasting 34 days.

A prolonged shutdown could directly and indirectly affect insurers as consumers and businesses adjust spending and investment decisions. Possible impacts include reduced government spending, disruptions in social services, and volatility in financial markets.

Additionally, the National Flood Insurance Program (NFIP), administered by FEMA, expired on Sept. 30. Without reauthorization, FEMA will be unable to issue new flood policies. 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: extreme weather climbs to the top of business risk concerns, and Gen Z workers see AI as a career co-pilot.

Extreme Weather Emerges as Top Business Risk

Extreme weather has quickly risen to the forefront of business risk. The number of U.S. disasters costing over $1 billion has more than tripled—from an annual average of 7.2 (1980–2019) to about 23 per year between 2020 and 2024, according to Gartner.

Organizations are being pushed to rethink risk management strategies. It’s no longer enough to focus solely on physical damages such as flooding, storms, and wildfires. Businesses must also address transitional risks like changing regulations, evolving consumer expectations, and long-term climate exposure.

Enterprise Risk Management leaders are now tasked with building greater visibility into vulnerabilities, strengthening organizational agility, and embedding resilience throughout operations and supply chains. With insurance costs rising and coverage becoming more limited in high-risk regions, defining clear risk ownership within companies is becoming essential for sustaining business continuity. Read more here.

Gen Z Insurance Workers Want AI on the Job

A recent survey by Counterpart and Young Risk Professionals shows that Gen Z insurance workers largely welcome AI as a tool for career growth rather than a threat. Over half say AI poses no risk to their jobs, and 69% believe it will improve their workflow. At the same time, 45% point to slow technology adoption as a major challenge within the industry.

While AI is reshaping industries across the economy, the insurance sector has lagged in keeping pace. As the industry works to catch up, young professionals have an opportunity to position themselves as future leaders by leveraging AI expertise—an advantage that may outweigh traditional tenure. Looking ahead, companies that embrace innovation are likely to attract both top talent and future clients, while those that delay risk falling behind. 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 to receive federal disaster aid after summer floods, and actuaries raise concerns over Medicare’s long-term costs.

Six States to Receive Federal Disaster Aid From Summer Floods

President Trump has approved federal disaster aid for Wisconsin and five other states following storms and floods that occurred this spring and summer. The disaster declarations will provide federal funding to Wisconsin, Kansas, North Carolina, North Dakota, and tribal areas in Montana and South Dakota. In each case except Wisconsin, the approval process took more than a month—continuing a trend of longer waits for disaster relief. Read more here.

Actuaries Warn Medicare Costs Threaten Long-Term Sustainability

The American Academy of Actuaries warned in a recent webinar that rising Medicare spending poses a long-term challenge for the program. Increased enrollment, along with higher costs for Part B and Part D prescription drug coverage, are projected to push premiums sharply higher over the next decade.

• Part B premiums: $147/month in 2024 → $347/month by 2034
• Part D premiums: $34/month in 2024 → $51/month by 2034

These increases could significantly impact retirees living on fixed incomes. 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 Independent BROKERS TIME Act is introduced in the Senate, and the DOJ ends defense of the federal ban on noncompete agreements.

Independent BROKERS TIME Act Introduced in Senate

Sen. Mike Rounds (R-SD) and Sen. Catherine Cortez Masto (D-NV) have introduced the Independent Broker Relief and Oversight of Knowingly Egregious and Repetitive Sales Tactics in Medicare Enrollment Act of 2025, better known as the Independent BROKERS TIME Act.

The bipartisan bill directs the Secretary of Health and Human Services to update regulations for independent agents, brokers, and third-party marketing organizations under Medicare Parts C and D. The bill has been referred to the Senate Finance Committee for further consideration. Read more here.

DOJ Drops Defense of Ban on Employee ‘Noncompete’ Agreements

The U.S. Department of Justice has dropped its legal defense of the 2024 Federal Trade Commission rule that banned employee noncompete agreements, which typically prevent workers from joining competitors or starting competing businesses.

The decision follows rulings from two federal judges striking down the rule, and the DOJ has now filed motions to dismiss related appeals in New Orleans and Atlanta. The rule had faced strong opposition from Republicans and business groups, including the U.S. Chamber of Commerce.

FTC Chairman Andrew Ferguson had signaled in February that the agency was reviewing the rule, making this move widely expected. 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: Tort reform gains momentum as nuclear verdicts reshape liability exposure. Plus, employers navigate vaccine coverage confusion as the FDA changes COVID vaccine rules.

Tort Reform Gains Ground as Nuclear Verdicts Reshape Liability Landscape

The liability litigation environment is shifting as nuclear verdicts continue to surge and states roll out new tort reforms aimed at restoring balance, according to Sedgwick’s 2025 liability litigation trends report.

In 2024, nuclear verdicts against corporations hit record highs: 135 lawsuits resulted in awards of more than $10 million—a 52% jump from 2023. Altogether, these verdicts totaled $31.3 billion, marking a staggering 116% increase year over year. Read more here.

Employers Face Vaccine Coverage Chaos as FDA Sets New Rules for COVID Vaccines

Employers are facing fresh challenges when it comes to covering COVID-19 and other vaccinations. Last week, the U.S. Food and Drug Administration announced the end of emergency-use rules for COVID vaccines, including Novavax’s Nuvaxovid, while also tightening access guidelines for others. This shift complicates coverage requirements for employer health plans.

Even as wastewater testing indicates a new COVID wave—showing about 3.6 million new weekly infections in the U.S. and over 1,300 excess deaths—the FDA maintains that the pandemic emergency period has ended. Officials now say the current, lower level of risk no longer supports encouraging routine vaccination for healthy people under 65. Secretary of the U.S. Department of Health and Human Services Robert F. Kennedy Jr. appeared to imply in comments on X that working-age people with health problems, such as obesity, might be able to get COVID vaccine shots without a prescription, but that others might need a prescription. 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.

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

Happy Wednesday! In this week’s Big I Buzz: aggressive shopping trends for home and auto coverage, and a federal judge halts upcoming changes to the health insurance marketplace.

TransUnion: Aggressive Shopping Continues for Home, Auto Coverage

Consumers are shopping for auto and property insurance at elevated rates, according to TransUnion’s Q3 2025 Insurance Personal Lines Trends and Perspectives report.

• Auto: Shopping activity rose 17.6% in Q2 2025 compared to the previous year.
• Property: Up 9.2% year-over-year.

The report notes that consumers seeking auto coverage should continue to find competitive options as carriers prioritize new business. On the property side, the report highlights four key customer segments most likely to shop for coverage in the current market. Read more here.

US Judge Pauses Changes to Federal Health Insurance Marketplace

On August 22, a federal judge halted portions of the U.S. Department of Health and Human Services’ planned updates to the Affordable Care Act marketplace—just days before implementation.

Judge Brendan Hurson sided with a lawsuit filed by the city of Chicago, the mayor and city council of Baltimore, and public health advocates. The challengers argued that the changes would cause more than 2 million people to lose coverage due to increased fees and other barriers. 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.

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?

Happy Wednesday! In this week’s Big I Buzz: a Wisconsin insurance agent shares flood coverage insights, and new data confirms record-high federal lawsuit damages tied to “social inflation.”

Flood Victims Realize Insurance Won't Cover Damage, Insurance Agent Offers Tips

Following last weekend’s historic flooding, many Wisconsin residents are learning too late that standard homeowners policies don’t cover flood damage. Insurance agent Justin Staebler spoke with CBS58 Milwaukee, offering tips and stressing the importance of evaluating flood risk before disaster strikes.

Staebler noted that most homeowners opt out of flood insurance—often assuming it’s unnecessary—yet coverage costs can vary widely. His reminder: it’s worth considering the protection before you need it. Read more here.

Federal Lawsuit Damages Hit Record Highs as ‘Social Inflation’ Claims Gain Data Support

A new Lex Machina 2025 Damage Awards Report, analyzing more than 73,000 federal cases, reveals that average damage awards in 2023 and 2024 hit record highs. The findings provide data-backed evidence for insurance industry concerns over “social inflation”—the trend of rising litigation costs and jury awards.

The report highlights a sharp split in outcomes: jury verdicts have surged dramatically, while judicial awards have remained comparatively stable. 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.

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: flood resources for Independent Agents, and a long-term win in the fight against insurance fraud.

Flooding Hits Wisconsin - Resources to Protect Your Clients & Agency

Severe storms swept through the Midwest this weekend, with the Milwaukee area experiencing some of the heaviest rainfall. West of the city saw 8 to 11 inches of rain, leading to significant flash flooding and the cancellation of the final day of the Wisconsin State Fair on Sunday.

Here are several flood insurance resources to help you protect your clients and your agency:

• Avoiding Agency Errors & Omissions Claims by Offering Flood Insurance and Excess Flood Coverage
  Learn how to reduce your E&O exposure by ensuring clients are informed about both standard and excess flood insurance options.
• The Insurance Agent’s Guide to Selling Flood Insurance
  A practical guide covering the essentials of flood insurance and tips for getting started with sales.
• Big “I” Flood Insurance
  In partnership with Selective, Big “I” Flood offers members an industry-leading flood insurance program with unmatched service and support.

Fighting Insurance Fraud: A Long-Term Win for the Industry

The Coalition Against Insurance Fraud estimates that insurance fraud crimes cost the U.S. around $308.6 billion each year. From staged slips and falls to elaborate schemes involving lawyers, doctors, and claimants, bad actors have exploited the legal system for profit. However, momentum is shifting. Insurance carriers are ramping up efforts to root out fraud, and while the full results aren’t yet clear, the potential long-term impact could reshape the industry. 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" 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: Wisconsin dentists raise concerns after an insurance company acquires a major dental practice, and a congressional hearing explores potential reforms to FEMA’s role in disaster response.

Dentists Across Wisconsin Worry After Insurance Company Buys Large Dental Practice

Dentists across Wisconsin are voicing concerns following Delta Dental’s acquisition of Cherry Tree Dental, a Madison-based practice with over 30 locations. The insurance provider maintains that the purchase presents no conflict of interest, but many in the dental community argue that the move blurs the line between insurer and care provider. Read more here.

FEMA Role in Disaster Response Examined in Congressional Hearing

Last week, the House Subcommittee on Economic Development, Public Buildings, and Emergency Management held a hearing to introduce the bipartisan “FEMA Act of 2025.” The proposed legislation would remove FEMA from the Department of Homeland Security and restore it as a cabinet-level agency reporting directly to the president. The bill aims to streamline disaster aid, speed up assistance to survivors, and incentivize state-level investments in disaster mitigation. 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.

Happy Wednesday! In this week’s Big I Buzz: a guide to understanding commercial insurance costs. Plus, a new book proposes a strategy to negate nuclear verdicts.

Understanding Commercial Insurance Costs

Understanding your commercial insurance costs is just as important as tracking any other operating expense. Most small businesses can expect to pay between $500 and $3,000 annually for basic coverage, but your exact premium will depend on factors like your industry, revenue, location, and claims history. Additional elements—such as coverage limits, deductible amounts, number of employees, and vehicle fleet size—also influence pricing. For a deeper dive into what impacts commercial insurance rates, read the report from ISU Armac Insurance Services. Read more here.

New Book Proposes Four-Prong Legal Strategy to Negate Nuclear Verdicts

Leaders at one of the nation’s largest insurance defense firms believe they’ve uncovered the key drivers behind nuclear verdicts—and created a litigation strategy to counter them. Their approach, called “Apex,” is based on real courtroom experience and data from over 100 nuclear verdict cases. A new book detailing the strategy and research behind it is set to be released later this year. 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: homeowners premiums are on the rise in every state. Plus, four things your should do if your carrier has been hacked.

Homeowner’s Insurance Premium Rates in Every U.S. State Are Going Up

Homeowners insurance premiums are rising across every U.S. state, with significant increases expected throughout 2025. Factors such as natural disasters, rebuilding costs, and tariffs on imported goods are driving these higher rates, putting pressure on homeowners’ budgets and overall housing affordability. Experts recommend renewing policies early and considering steps to improve home resilience to help manage future premium increases. Read more here.

4 Things You Should Do If Your Carrier Has Been Hacked

Cyberattacks on insurance carriers can disrupt services and expose sensitive client data. If your carrier has been compromised, it's crucial to act swiftly to protect your clients and your agency's reputation. By taking proactive steps, you can mitigate the impact of a cyberattack on your agency and clients. Read the tips on IA Magazine 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 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: what’s shaping the 2025 P&C market so far. Plus, a closer look at how climate disasters could impact the future of foreclosures.

What to Watch: The Trends for P/C Insurance in 2025 So Far

As we reach the halfway point of 2025, it’s a great time to review the key trends shaping the property/casualty market so far—and consider what may lie ahead. The industry continues to navigate a complex environment marked by economic uncertainty and shifting consumer expectations. Policyholders are increasingly budget-conscious, prompting insurers to rethink engagement strategies and offerings. While the second half of the year remains unpredictable, a few emerging trends are worth keeping a close eye on. Read more here.

Climate Disasters Could Drive Foreclosures to $5.4B Over Next Decade

Foreclosures linked to climate disasters could total $5.4 billion by 2035, up from $1.2 billion in 2025, according to First Street’s 13th National Risk Assessment. The report highlights a 1,580% increase in climate-related costs over the past four decades—reshaping how households, lenders, and investors assess risk. With extreme weather now the leading cause of homeowners insurance claims, mortgage lenders rely heavily on insurance as a safeguard against loan defaults. As risks intensify, so does the financial pressure on both borrowers and the institutions that serve them. 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: how autonomous vehicles are poised to reshape the insurance industry. Plus, a new report reveals that over 250,000 Wisconsinites could lose health coverage under a proposed federal plan.

Goldman Sees Autonomous Vehicles Transforming Insurance World

As autonomous vehicle technology advances, the $400 billion U.S. auto insurance market is poised for major changes. Goldman Sachs predicts that a sharp decline in accidents caused by human error will reduce costs and transform the industry—but key questions around liability remain. Over time, autonomy is expected to significantly lower accident frequency and shift how claims and legal responsibility are handled. With the autonomous vehicle market projected to hit $7 billion by 2030—and virtual driver technology for Class 8 trucks alone estimated at $5 billion—the impact on insurance is just beginning. Read more here.

Sen. Baldwin: Report Shows Bill Will Terminate Health Insurance for Over 250,000 Wisconsinites

A new report, cited by U.S. Sen. Tammy Baldwin, reveals that the House-passed Republican budget proposal would strip Medicaid coverage from approximately 148,000 Wisconsin residents and eliminate enhanced Affordable Care Act tax credits—jeopardizing health insurance for an additional 110,000 families, for a total of 258,396 people across the state. Nationwide, the measure puts coverage for 16 million Americans at risk, including 8.5 million on ACA plans and 7.4 million on Medicaid. Baldwin criticizes the plan as favoring corporate and wealthy interests at the expense of working families, seniors, children, and rural communities. 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.

Founded in 1915 by threshermen in Madison, Wisconsin, who recognized the need for workers compensation coverage, the Wisconsin Brotherhood of Threshermen Insurance Company, Limited Mutual, was established. The company relocated to Fond du Lac, Wisconsin in 1918 and evolved to support the hospitality industry, which has unique protection needs. The company adopted its current name, Society Insurance, in 1995. Over the years, Society Insurance has made a significant impact on policyholders in Wisconsin and across its nine-state operating territory.

Society’s accomplishments over the past 110 years include:

• Transitioned from a workers compensation-only insurance company to offering comprehensive commercial insurance solutions tailored to the unique needs of each business
• Expanded to provide commercial insurance products in nine states
• Recognized as one of the “Best Places to Work in Insurance” by Business Insurance in 2021, 2022 and 2023 and as one of the ten nationwide “Best Internship Programs” by Employ Humanity in 2024
• Established the Society Insurance Charitable Fund in 2007 which has distributed more than $1 million to non-profit organizations in the communities we serve

"For 110 years, we have been dedicated to serving business owners, safeguarding livelihoods and supporting our communities," said President and CEO Heather Boyer. "We are excited about the many achievements we've celebrated and remain focused on continued growth through our independent agency partnerships.”

Society Insurance attributes its longevity to the trust and partnership of its employees, agents and policyholders. While Society has evolved over the last 110 years, there is still much to look forward to in the years ahead.

ABOUT SOCIETY INSURANCE: Headquartered in Fond du Lac, Wis., Society Insurance has been a leading niche insurance carrier since 1915. Society focuses on the small details that make a big difference to its policyholders while offering top-notch insurance coverage, service and competitive pricing to businesses in Wisconsin, Illinois, Indiana, Iowa, Minnesota, Tennessee, Colorado, Georgia and Texas.

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: DIY home inspections are on the rise, and insurers face mounting pressure to support access to high-demand GLP-1 drugs.

DIY Home Inspections Are Taking Over, Firms Say

The future of home inspections may be in the homeowner's hands. Leaders from two firms developing DIY inspection systems—now used nationwide for pre-policy property surveys—say the trend is rapidly gaining momentum.

At the Insurance Innovators USA conference in Nashville, the head of EXL Survey and Business Control emphasized that DIY inspections are no longer a question of "if" but "how to implement."

While some homeowners may initially hesitate to submit photos of a water stain or a precariously placed tree limb, most are willing to participate—especially when they learn it can reduce costs and eliminate the disruption of a traditional in-person inspection. Read more here.

Insurance Companies Scrambling to Support Need for GLP-1 Drugs

Insurers are racing to address the skyrocketing demand for GLP-1 drugs like Ozempic, Wegovy, and Mounjaro. Originally developed for diabetes, these medications are now widely used for weight loss—creating a complex challenge for the insurance industry.

The dilemma? Balancing consumer access with soaring drug costs. While the current strategy is to manage short-term expenses while waiting for long-term data and potential competition from generics or biosimilars, some experts warn that delaying action could prove costly as demand continues to climb. 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.

I am writing to express my deep appreciation for Mike Ansay, an extraordinary mentor and role model in the insurance industry. I feel compelled to write you due to a recent bike accident Mike had, and my need to say thanks to him, on behalf of many agents he helps on a daily basis for the benefit of the insurance industry. Insurance is a field that requires both ethical integrity and strategic intelligence, Mike has consistently demonstrated an unwavering commitment to professionalism, client advocacy, agency direction, mentorship and friendship.

From the moment I met Mike at a SECURA Professional Development Conference, it was clear that his knowledge and experience were invaluable, but more importantly, his willingness to share and help me grow. He has the unique or remarkable ability to simplify complex concerns and industry issues, only to make my agency better. I am not alone. This unselfishness, in turn, helps the Independent Agency system. His guidance has not only helped me grow as an insurance professional, but has also reinforced the importance of trust and transparency to lead in our industry.

Beyond his technical expertise, what truly sets Mr. Ansay apart, is ethical leadership and straight truth messages. In an industry where integrity is paramount, he leads by example, always prioritizing the best interests of people and truth over anything. His mentorship, guidance, support and love of others goes beyond business; he genuinely cares about the success and well-being of those he is in contact with daily.

I have witnessed firsthand how Mike takes the time to nurture talent, offering support and wisdom to anyone willing to learn. His encouragement has empowered me to set higher standards for myself and serve my communities with the same dedication and honesty he exhibits daily.

In a world where true mentorship has waned from the past, Mike is a shining example of what it means to lead with integrity, intelligence, and compassion. I am grateful for his guidance and honored to have them as a mentor. His influence will undoubtedly continue shaping me and the careers of many others in the insurance profession for years to come.

Happily, and respectfully submitted,

Eric DeBruin

President

Family Insurance Center, Inc.

Happy Wednesday! In this week’s Big I Buzz: a FEMA leadership shakeup ahead of hurricane season, and a rise in cyber claims tied to business email compromise in 2024.

Acting FEMA Chief Is Ousted After Less Than 4 Months

Less than four months into the role, acting FEMA Administrator Cameron Hamilton has been dismissed, just weeks before the official start of hurricane season. While FEMA has not provided a reason for his removal, the agency confirmed Hamilton’s departure from the position he assumed in late January following his appointment by President Donald Trump.

Stepping into the role is David Richardson, who has been serving as the assistant secretary for the Department of Homeland Security’s Countering Weapons of Mass Destruction Office since January. A former U.S. Marine Corps ground combat officer, Richardson brings a background in national security and crisis response.

Hamilton’s exit came just one day after he testified before a House Appropriations subcommittee, where in prepared remarks he criticized FEMA for becoming “an overextended federal bureaucracy” that has “strayed far from its core mission.” Read more here.

Insurer Coalition: Costs From Business Email Compromise Rise in 2024

Cyber insurer Coalition reported that in 2024, approximately 60% of its cyber insurance claims were related to business email compromise (BEC), with nearly 30% involving funds transfer fraud (FTF). The average cost of BEC claims increased by 23% to $35,000, while FTF incidents had an average initial loss of $185,000. However, Coalition successfully recovered $31 million for policyholders, emphasizing that prompt reporting enhances recovery chances. While overall cyber claim frequency decreased by 7%, the severity remained stable. Notably, ransomware-related claims saw a 3% decrease in frequency and a 7% reduction in severity, with ransom demands dropping by 22% year-over-year. 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: 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.

Happy Wednesday! In this week’s Big I Buzz: Tips for agents insuring the cannabis beverage boom. Plus, the top pet insurance claims of 2025.

3 Tips for Agents Insuring the Cannabis Beverage Boom

Cannabis-infused beverages are rapidly gaining popularity, offering a new way for consumers—especially those new to cannabis—to enjoy its effects without smoking or edibles. From teas and seltzers to lemonades and soft drinks, these drinks are popping up in bars and boutique grocery stores, making cannabis feel more like a casual social drink than a controlled substance.

But with this growth comes complexity. Hemp-derived THC beverages, legal under the 2018 Farm Bill, are largely unregulated and sold outside the traditional marijuana market—creating challenges for independent insurance agents tasked with covering these businesses. Read about tips for insuring the cannabis beverage boom here.

Top Pet Insurance Claims of 2025

About 66% of U.S. households own a pet—a big jump from 56% in 1988. While pets bring joy, they also come with costs. Annual expenses average around $1,400 for dogs and $1,150 for cats, and emergency care can send those numbers soaring.

To protect their wallets, many pet owners turn to insurance, with monthly premiums averaging $53 for dogs and $32 for cats. Rising vet bills make it easier to justify, especially when top claims have reached over $60,000. PropertyCasualty360 outlines the top pet insurance claims 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 second quarter P&C outlook is a mixed bag, while the commercial property market is in a “better place.”

Second Quarter P&C Outlook is a Mixed Bag

The P&C insurance market is facing a cautious second quarter, with optimism held in check by concerns over nuclear verdicts, natural catastrophes, and the lingering effects of tariffs. Carriers are continuing to tighten underwriting standards, while also turning to new tech like satellite imagery to better assess risk. Read more here.

Today’s Commercial Property Market in ‘Better Place’ Brokers Assess 4 Current Trends

The commercial property market is starting to stabilize, with more rate decreases showing up for accounts with favorable loss histories. Increased competition is helping to drive pricing down, though tough conditions remain for properties exposed to wildfires, vacancies, or prior claims. 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 will consider expanding PTSD law. Plus, US health insurers jump as 2026 Medicare payment rates exceed expectations.

Wisconsin Lawmakers to Consider Expanding PTSD Law

Wisconsin lawmakers are considering a new bill that would extend workers’ compensation eligibility for post-traumatic stress disorder (PTSD) to a broader group of first responders.

Currently, only firefighters and law enforcement officers are covered under a standard that does not require their PTSD to stem from unusually high stress. Senate Bill 168 would add emergency medical responders, EMS practitioners, volunteer firefighters, correctional officers, dispatchers, coroners, and medical examiners to the list. Read more here.

US Health Insurers Jump as 2026 Medicare Payment Rates Exceed Expectations

The U.S. government has finalized a 5.06% average increase in 2026 Medicare Advantage payment rates, more than doubling the initially proposed 2.2% from January. This substantial hike is expected to benefit major insurers like UnitedHealth Group, Humana, and CVS Health, allowing for enhanced plan benefits and improved profitability. Following the announcement, Humana's stock surged 11.5%, while CVS Health saw a 6.7% increase. The Centers for Medicare & Medicaid Services (CMS) attributed the updated rate to more comprehensive cost data through Q4 2024, reflecting the Trump administration's strong support for the Medicare Advantage program. 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: Madison auto experts weigh in on rising repair costs due to new auto tariffs, and companies battle rising ransomware threats.

Madison Auto Experts Weigh In on Rising Repair Costs Due to New Tariffs

Multiple Madison auto experts weighed in on the impact of rising car part prices in a report from WMTV Madison. With a new 25% tariff on imported vehicles, signed by President Trump on March 26, set to take effect this Thursday, local repair shops anticipate higher costs for both foreign and domestic car repairs.

Industry professionals explain that many U.S.-made vehicles still rely on imported parts, meaning repair costs could rise across the board. Even major automakers with production facilities in North America may be affected, potentially leading consumers to delay new car purchases in favor of maintaining their current vehicles. Auto shops recommend that drivers stay proactive with maintenance and research part prices to better navigate the changes ahead. Read more here.

Companies Battle Rising Ransomware Threats
Ransomware continues to pose a significant threat to organizations, with recent cyber insurance industry reports highlighting a rise in cybercriminal activity. Experts emphasize the importance of maintaining strong cybersecurity measures to prevent and mitigate these attacks. Typically, ransomware incidents involve a threat actor infiltrating an organization's system, seizing control of sensitive data, and demanding payment under the threat of public exposure. This growing concern has been especially prevalent over the past five years. 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: Nine states are taking action to reform third-party litigation financing, while Tesla owners may face rising insurance rates due to targeted vandalism.

Nine States Pursue Third-Party Litigation Reform

Third-party litigation financing—when outside firms fund lawsuits they believe have a strong chance of success—is facing increased scrutiny across the U.S. These funding companies support a variety of commercial and consumer claims, including cases involving trucking incidents. Truck drivers, their employers, and insurers often bear the brunt of excessive and costly litigation related to personal injury claims, creating ripple effects throughout the supply chain. In response, states from Montana to West Virginia have implemented measures to curb litigation financing, with several others now considering similar reforms. Read more here.

Targeted Teslas Could See Insurance Rates Rise

Tesla owners may see rising insurance premiums as acts of vandalism against the brand continue to surge. Protests against Elon Musk—sparked by his role in the federal government’s DOGE initiative—have led to attacks on Tesla vehicles, dealerships, and charging stations. Reports detail cars being spray-painted, set on fire, and having their tires slashed. While many incidents have occurred at dealerships, individual Tesla owners have also been affected. If the trend persists, insurers may adjust rates to account for increased risks related to theft and vandalism. 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 has issued a bulletin on AI use in insurance. Plus, Wisconsin ranks among the least safe states to drive in.

Wisconsin OCI Bulletin: The Use of Artificial Intelligence Systems in Insurance

The Wisconsin Office of the Commissioner of Insurance (OCI) issued a bulletin on March 18 to remind all entities regulated by OCI that decisions or actions impacting consumers that are made or supported by advanced analytical and computational technologies, including Artificial Intelligence (AI) Systems, must comply with all applicable insurance laws and regulations. Read the bulletin here.

How Does Wisconsin Rank for Driving?

Wisconsin drivers face a mix of road conditions, from snow to heavy rain, but a recent study ranked the state in the bottom half for overall driving experience.

WalletHub analyzed all 50 states based on key factors like gas prices, traffic congestion, and safety. Wisconsin ranked 32nd overall, but 44th in safety—placing it among the worst in the country.

The study also highlighted gas price differences, with the West Coast seeing the highest prices and Mississippi the lowest. 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: what to expect for the 2025 tornado season. Plus, a look at how tariffs will impact the insurance industry.

What's In Store for the 2025 Tornado Season?

With spring just around the corner, now is the time to prepare for the possibility of severe weather. In 2024, the U.S. recorded its second-highest number of tornadoes in a single year, with 1,855 confirmed twisters. As spring arrives, severe weather is expected to ramp up again, with AccuWeather predicting that regions outside traditional Tornado Alley may continue to face the worst of these storms. A high-pressure system over the Southwest could suppress thunderstorms in the Plains, while unusually warm Gulf waters may fuel severe storms and tornadoes in the Mississippi Valley.

Looking ahead, thunderstorms are expected to become more widespread in May, impacting the Midwest, mid-Atlantic, and Tornado Alley. Additionally, derechos could pose an increasing threat from late spring into summer. However, overall tornado activity is projected to be lower than in 2024, with an estimated 1,300 to 1,450 twisters this year, including 75 to 100 in March, 200 to 300 in April, and 250 to 350 in May. Read more here.

Tariffs Will Negatively Affect Insurance Industry, Says AM Best

AM Best analysts warn that proposed U.S. tariffs on imports from Canada, Mexico, and China could negatively impact the insurance industry, particularly homeowners’ and auto insurance. A senior director at AM Best highlighted that supply chain disruptions in the auto sector could drive up repair and replacement costs, posing a financial challenge for insurers. Modern vehicles, equipped with advanced technology, are already expensive to fix, and tariffs may further inflate those costs.

Similarly, the homeowners’ insurance market could see rising expenses as tariffs increase the cost of building materials like lumber. As a result, replacement costs are expected to increase. 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: Liberty Mutual plans to retire the Safeco brand in 2026. Plus, the Supreme Court schedules arguments in an ACA case defended by the Trump administration.

Liberty Mutual to Sunset Safeco Brand in 2026

Liberty Mutual has announced plans to retire the Safeco brand in 2026, consolidating all personal lines products under the Liberty Mutual name. Safeco, acquired by Liberty Mutual in 2008, has been a significant brand for independent agents selling home, auto, and specialty insurance. The transition aims to simplify operations and unify marketing efforts across distribution channels. Current Safeco customers will maintain their existing policies and agent relationships throughout this change. Read more here.

Supreme Court Schedules Arguments in Case Where Trump Administration is Defending ACA

The Supreme Court has set April 21 as the date for arguments in a case that could determine the legality of the ACA's mandate for insurers to cover specific preventive services. In an unexpected decision, the Trump administration announced it would uphold the Biden administration’s defense of the mandate. Some legal experts believe the Justice Department’s arguments suggest an effort to grant Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. significant authority over an independent government task force. 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.

SECURA was founded in 1900 by Julius Bubolz, a local farmer, after a tornado tore through New Richmond, Wisconsin causing incredible property damage, killing more than 100 people and injuring 500 others. Bubolz knew something needed to be done to ease the inevitable financial burden caused by future storms. Together with his neighbors, he founded The Farmers Home Mutual Hail, Tornado, and Cyclone Insurance Company of Seymour, Wisconsin (now SECURA Insurance).

Company accomplishments from the past 125 years include:

• Grew from a farm insurance company to also offer insurance solutions for businesses, agribusinesses, nonprofits, and special events
• Expanded to offer insurance products in 13 states
• Grew direct written premium to $999 million
• Achieved recognition as a Great Place to Work for nine consecutive years (2016-present)
• Increased the number of employees to approximately 1,000

“We are proud to be a mutual insurance company that has served our associates, agent partners, policyholders, and communities for the past 125 years,” said Garth Wicinsky, SECURA Insurance President & CEO. “We have accomplished many milestones throughout our history and look forward to growing over the next 125 years.”  

The company’s longevity speaks to the strength of its workplace culture, relationships with independent agents, and trust from policyholders. While much has changed since 1900, SECURA has remained a mutual insurance company focused on making insurance genuine.

ABOUT SECURA INSURANCE

SECURA Insurance, headquartered in Neenah, Wis., is a regional group of property-casualty insurance companies operating in 13 states. Approximately 550 independent insurance agencies represent the group, which provides a broad range of competitive commercial, agribusiness, farm, nonprofit, and special events products. SECURA Insurance is known for providing exceptional service to its agents and policyholders since 1900, and is rated A (Excellent) by A.M. Best for its excellent ability to meet policyholder obligations. It is also a certified Great Place to Work. Visit secura.net to learn more.

Happy Wednesday! In this week's Big I Buzz: It's Flood Safety Awareness Week in Wisconsin—get tips to stay prepared. Plus, a reminder from the U.S. Department of Agriculture about upcoming crop insurance deadlines.

Wisconsin Flood Safety Awareness Week - February 24-28, 2025

Flooding is one of the most frequent and destructive natural disasters, impacting individuals, families, and communities across Wisconsin. Understanding the risks and taking proactive steps can make all the difference in staying safe. To promote flood preparedness, Governor Tony Evers has declared February 24-28 as Flood Safety Awareness Week in Wisconsin. Stay prepared by:

• Checking your sump pump to ensure it’s functioning properly.
• Identifying flood-prone roads and planning alternate routes.
• Elevating items in your basement to prevent damage.

Get more tips here.

USDA: Upcoming Crop Insurance Deadlines

The U.S. Department of Agriculture (USDA) is reminding agricultural producers that deadlines to apply for or modify crop insurance coverage for the 2025 crop year are fast approaching. Sales closing dates vary by crop and location, with key deadlines on Feb. 28, March 15, and April 15. Federal crop insurance is a vital tool for managing revenue risks, offering options like Whole-Farm Revenue Protection and Micro Farm coverage. Producers are encouraged to review their policies and meet with their crop insurance agents to ensure they have the right coverage in place. 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, ten home insurance myths debunked. Plus: how embedded insurance is transforming retail.

10 Home Insurance Myths Debunked

Think you know the ins and outs of home insurance? Many common beliefs about coverage, claims, and costs are actually misconceptions. Learn about ten of the biggest home insurance myths to help homeowners make informed decisions. Read more here.

Insurers Risk Losing Out if They Ignore Embedded Insurance Opportunities

Embedded insurance is no longer just an emerging trend—it’s becoming a core strategy for retailers looking to enhance customer experience, build loyalty, and unlock new revenue streams. With global gross written premiums projected to reach $700 billion by 2030, the opportunity is undeniable. Success in this space hinges on seamless integration, customer trust, and regulatory compliance. Retailers and insurers that collaborate effectively can tap into a growing market. 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: Five ways to prepare for the end of the hard market, plus tips for overcoming hesitancy in life insurance sales.

5 Ways to Prepare for the End of the Hard Market

For quite some time, the hard market has made it challenging for agents to secure affordable coverage for their clients—when coverage was even available. Now, there are signs that conditions are improving. With the market shifting, insurance agencies should focus on positioning themselves for long-term success. The steps taken today will play a key role in how well they navigate the soft market cycle that lies ahead. Read more here.

Overcoming ‘I Need to Think About It’ in Life Insurance Sales

Few things frustrate salespeople more than hearing, “I need to think about it.” For many life insurance agents—especially those who are new or part-time—this is one of the toughest objections to overcome. In some ways, it can feel even worse than a flat-out “I’m not interested” because at least then, you know where you stand. A successful sales call should build momentum, much like a snowball rolling down a mountain—starting small, gaining speed, and becoming unstoppable. But if that snowball isn’t packed tightly from the start, it’s more likely to crumble along the way. Learn how you can set yourself up for success from the very beginning of your sales presentation. 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: Agency mergers and acquisitions dipped 10% in 2024. Plus, North American companies prepare for the impact of new tariffs.

Agency M&A Down 10% in 2024

Agency mergers and acquisitions dropped 10% in 2024, marking a slowdown in industry deal activity. Economic conditions, higher interest rates, and valuation concerns have contributed to the decline. Despite the slowdown, independent agencies remain attractive to buyers, and strategic deals are still happening. Experts suggest that market shifts may lead to more selective acquisitions moving forward. Read more here.

North American Companies Brace for Fallout From Tariffs

The “wait and see” period on tariffs is over for North American companies as new U.S. tariffs on Canada, Mexico, and China create fresh challenges across industries. Executives are bracing for higher costs, potential supply chain disruptions, and shifting production strategies to mitigate the impact. While large corporations may have flexibility, smaller businesses reliant on foreign parts could face significant hurdles. Experts warn tariffs could lead to higher consumer prices, with industries from autos to retail feeling the strain. 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: Workers’ comp sees an increase in advanced medical practitioners. Plus, the pet insurance market continues to grow.

Comp Sees Increase in Advanced Medical Practitioners Treating Workers

The workers' compensation industry has seen a growing reliance on nurse practitioners and physician assistants for initial medical visits, largely due to physician shortages. According to a Workers Compensation Research Institute report, physician-led first visits dropped from 81% in 2013 to 60% in 2022, while visits with physician assistants and nurse practitioners nearly doubled. Despite provider shortages, the report found minimal impact on claim costs, disability duration, or types of care provided. The use of advanced practitioners varies by state, with higher reliance in Indiana, Nevada, New Mexico, and North Carolina. Rural areas also saw an increase, with nurse practitioners handling 26% of first visits in 2022. Read more here.

Growth of Pet Insurance Continues as Market Could Reach $4.5B

The pet insurance industry has experienced significant growth, with premiums reaching over $3.4 billion in the first three quarters of 2024 and projections suggesting a total of $4.5 billion for the year. This surge is attributed to rising veterinary costs and an increase in pet ownership; for instance, U.S. households owned 87.9 million dogs and 73.8 million cats in 2024. Notably, pet insurance now accounts for about 10% of the inland marine insurance market. However, the sector faces challenges due to escalating veterinary expenses, leading some insurers to adjust their policies. The market remains concentrated, with the top 10 insurers holding 90% of the market share. 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: California expands moratorium on homeowners insurance cancellations and non-renewals. Plus, empowering employees through constructive feedback.

California Expands Moratorium on Homeowners Insurance Cancellations, Non-Renewals

California Insurance Commissioner Ricardo Lara has extended emergency insurance protections for Southern California homeowners, adding more ZIP Codes to the mandatory one-year moratorium on insurance non-renewals and cancellations.

This expansion covers residents in and around the ZIP Codes impacted by the Palisades, Eaton, Hurst, Lidia, Sunset, and Woodley fires in Los Angeles County, as outlined in Gov. Gavin Newsom’s Jan. 7 emergency declaration. These protections apply for one year, even if no loss was incurred. Read more here.

Empowering Employees Through Constructive Feedback

Feedback is a powerful tool to foster communication, trust, and growth within an organization. Thoughtful, specific feedback helps employees improve, strengthens team relationships, and boosts morale. Leaders should provide timely, solution-oriented feedback with clear examples to empower employees and encourage development. Creating a culture of continuous feedback, where input is valued and regularly sought, drives ongoing improvement and success. 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.

The two insurance companies announced their intent to affiliate in October 2024.  Rural Mutual and Badger Mutual each bring unique attributes and value to the affiliation, including their industry knowledge, exceptional customer service, and deep community involvement. A shared vision and culture will ensure collaboration while both Rural Mutual and Badger Mutual retain their distinct brand identities. Leaders of both organizations say that there is a shared commitment to working together to achieve long-term growth and stability for employees, agents, and policyholders.

“Our two organizations have been meeting daily to finalize the details to bring together our two reputable brands for mutual growth,” said Dan Merk, Rural Mutual Executive Vice President and CEO. “We are excited about what the future holds as we begin this new affiliation.”

Rural Mutual adds its financial strength and AM Best A+ rating, seasoned staff, local agents, and operational excellence to the relationship. Badger Mutual contributes an experienced management team and independent agents with an expanded sales footprint in six states outside of Wisconsin. The current ratings of each organization will remain under review until AM Best completes its evaluation of the new relationship post transaction.

“After much anticipation, we are thrilled to officially join forces with Rural Mutual,” said Dan Nigro, CEO of Badger Mutual. “The synergy between both organizations has been outstanding, and I have great confidence in our mutual success as we embrace this amazing opportunity.”

About Rural Mutual Insurance Company

Rural Mutual Insurance Company has been protecting Wisconsin for 90 years and is the state’s No. 1 writer of farm insurance and No. 4 writer of commercial insurance. As an AM Best A+ Superior company, Rural Mutual provides a full line of insurance products exclusively to farms, families, and businesses in Wisconsin. The company is headquartered in Madison, Wisconsin with over 150 local agents across the state.

About Badger Mutual Insurance Company

Badger Mutual Insurance Company has been providing a range of property and casualty insurance products since 1887. The company is headquartered in Milwaukee, Wisconsin, and is represented by over 320 local agencies across seven states: Wisconsin, Illinois, Minnesota, Iowa, Michigan, Arizona, and Nevada.

Happy Wednesday! In this week's Big I Buzz: insurance leaders and lawmakers work on California wildfire relief. Plus, a high-stakes battle over the Affordable Care Act.

Insurance Leaders, Lawmakers Working on California Wildfire Relief

California’s recent wildfires are driving swift action from lawmakers and insurance leaders to protect affected homeowners. Insurance Commissioner Ricardo Lara issued a one-year moratorium preventing insurers from canceling policies in wildfire-impacted areas and proposed a grant program to help low-income residents reduce wildfire risks with fire-resistant roofs and defensible space.

Lawmakers also introduced the FAIR Plan Stabilization Act to strengthen California’s insurer of last resort by issuing catastrophe bonds. Analysts estimate insured losses from the wildfires could hit $30 billion, with most from homeowners’ policies. Despite the losses, industry leaders say insurers have the capital to cover claims and see the crisis as a potential turning point for reform. Read more here.

SCOTUS Agrees to Hear Challenge to Obamacare’s Preventive Care Coverage

The Supreme Court will take up a significant case challenging the Affordable Care Act’s preventive care coverage in its upcoming term. This marks the latest chapter in ongoing legal battles surrounding the health reform law.

If the court sides with the Texas-based employers who brought the case, it could weaken protections for millions of Americans by allowing insurers to stop covering preventive services like birth control, vaccines, and mental health screenings at no out-of-pocket cost. Read more here.

Trusted Choice Relief Fund

The Trusted Choice Relief Fund is accepting donations and grant applications to help those affected by the recent wildfires in the Los Angeles area. According to the latest reports, the fires have burned over 45 square miles, forcing 179,000 to evacuate. Officials report at least five deaths, 1,300 structures destroyed, and 60,000 more at risk as strong winds fuel the flames in densely populated areas of Southern California.

The Trusted Choice Relief Fund is available to provide financial assistance to insurance industry personnel impacted by these wildfires. Whether you're looking to donate to help agents or are seeking financial assistance for recovery, the Trusted Choice Relief Fund is here to provide critical support. Learn more and donate 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, 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.

The Trusted Choice Marketing Reimbursement Program helps agencies offset the cost of various marketing activities that support marketing and growing your agency, from digital advertising or traditional marketing that include the Trusted Choice logo, to working with select preferred marketing vendors.

Reimbursement Allotment

All agencies are eligible for up to $1000 in reimbursement. Reimbursement amount is calculated at 50% of cost to member agency with a maximum reimbursement of $1000 (limited to one location.)

Ways to Qualify

• Digital Marketing Efforts: Digital marketing efforts executed by member agency in calendar year 2025 highlighting your agency and/or independent agents. Funds can be used towards production of digital materials (when paid) or towards cost of ad placements. Eligible efforts include but are not limited to: online display and banner ads, paid social media ads, PPC ads, ads on streaming services like YouTube and Hulu, digital sponsorships, ads within apps, graphic designer costs for email and logo development, and more. Subscriptions and recurring payments are not eligible.
• TechCompare Vendor Services: This reimbursement is available to enhance your agencies marketing and technology capabilities. Leverage any MRP eligible vendors on the TechCompare platform as a new customer in 2025. Check for eligible vendors here.
• Marketing Education: Funds may also be used for marketing education courses or marketing conference registrations. Trusted Choice recommends courses covering general marketing, social media marketing, small business marketing, SEO and more. All courses/conferences must be approved by Trusted Choice to confirm eligibility. College tuition and state events NOT eligible. Must be primarily marketing focused – contact Trusted.Choice@iiaba.net if you would like to confirm eligibility.

Learn more about the 2025 Program Guidelines here.

Happy Wednesday! In this week's Big I Buzz: The Big "I" and ACT provide a memo and sample policy on AI. Plus, the 2024 Insurance Fraud Hall of Shame.

Big ‘I’ and ACT Provide Memo, Sample Policy on AI

The promise of artificial intelligence (AI) is compelling. Agencies have access to newly available automated products or services that could make them more efficient, effective and profitable. However, there are important legal issues related to AI that Big “I" members should consider.

For example, like any other third-party vendor that handles data, AI raises potential data privacy and security risks that may—or may not—be addressed in the vendor's contractual terms. Agencies should also guard against risks relating to the accuracy of AI outputs, as well as intellectual property infringement and ownership issues.

Agencies should also watch out for new contractual restrictions imposed by carriers around AI usage, as well as regulatory compliance issues. Colorado recently became one of the first states to enact a comprehensive law regulating the use of AI in “high risk" systems that make “consequential decisions" in certain sectors, including insurance.

While the Colorado AI Act does not go into effect until February 2026, agents should consider proactively addressing AI usage with their staff. The Big “I" Office of General Counsel and ACT have published a memo on the legal issues relating to AI usage and a sample acceptable-use policy that members can customize for their business. The sample can be found at the end of the memo on legal risks, which is available on the Big “I" Legal Advocacy webpage.

The 2024 Insurance Fraud Hall of Shame

Insurance fraud comes in all shapes and sizes, and some cases are truly head-scratching. PropertyCasualty360’s 2024 Insurance Fraud Hall of Shame highlights some of the wildest schemes from the past year. View the list here.

Happy Holidays from the IIAW

Our office will be closed December 24, 25, 31 and January 1 for the holidays. This will be the final edition of the Big I Buzz of 2024. We'll return with fresh updates on January 8! In the meantime, stay connected with us on Facebook and LinkedIn. We'll see you in the New Year!

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: Gallagher to buy AssuredPartners for $13.5B. Plus, a survey shows that nearly a quarter of Americans are underinsured.

Gallagher to Buy AssuredPartners for $13.5B to Increase Mid-Market Reach

Arthur J. Gallagher has announced an agreement to acquire AssuredPartners for $13.45 billion in cash, strengthening its presence in the U.S. middle-market property/casualty and employee benefits sectors. The deal will add AssuredPartners' extensive U.S., U.K., and Ireland operations, with about 400 offices and adjusted annual revenue of $2.9 billion, to Gallagher's portfolio. AssuredPartners CEO Randy Larsen highlighted the combined companies' access to global resources and expert insights as key benefits of the acquisition. The deal marks the largest U.S. insurance broker sale to a strategic acquirer and follows other significant middle-market acquisitions by industry leaders Marsh McLennan and Aon. The transaction, subject to regulatory approval, is expected to close in early 2025. Read more here.

Nearly a Quarter of Americans are Underinsured: Report

A recent survey by the Commonwealth Fund reveals that nearly 25% of working-age Americans with health insurance struggle with high out-of-pocket costs, limiting their ability to afford care. The report highlights gaps in coverage, with 12% of respondents losing insurance at some point in the past year and 9% being uninsured. Uninsured and underinsured individuals, particularly those facing high costs relative to income, are more likely to delay essential healthcare. 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: Registration is now open for InsurCon2025, and the latest updates on the US personal lines insurance outlook and FEMA's action on Fort Myers Beach.

InsurCon2025 Registration Now Open

The Independent Insurance Agents of Wisconsin (IIAW) is excited to announce that registration is now open for InsurCon2025! This year’s convention will take place May 7-8 at the iconic American Family Field, home of the Milwaukee Brewers. Get ready for an unforgettable experience alongside Wisconsin’s top independent insurance agents, all set in a truly unique ballpark setting. You won’t want to miss out on the chance to network, learn, and enjoy a grand-slam experience at this one-of-a-kind event! Register today and save your spot!

AM Best Revises Outlook for US Personal Lines Insurance to ‘Stable’

AM Best recently revised its outlook for the US personal lines insurance segment to "Stable." The move reflects improved underwriting results, a favorable pricing environment, and enhanced capital positions for insurers. The outlook indicates a balance between challenges such as inflation and rising claims severity, alongside solid financials and a healthy competitive environment. As insurers continue to navigate these evolving conditions, this revised outlook offers a positive signal for the personal lines market. Read More Here.

FEMA Takes Action on Fort Myers Beach for Improper Rebuilding
FEMA has issued a sharp warning to the Fort Myers Beach area following reports of improper rebuilding in flood-prone zones. After Hurricane Ian’s devastation, officials discovered that several structures were rebuilt without adhering to the necessary floodplain management rules, prompting the agency to halt federal disaster relief funds. This action highlights the importance of compliance with flood mitigation measures and serves as a cautionary tale for other communities rebuilding after natural disasters. 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 Department of Labor overtime rule was struck down by a Texas federal court judge. Plus, commercial auto insurance struggles persist in 2023.

DOL Overtime Rule Struck Down

On November 15, 2024, a Texas federal judge struck down the Department of Labor's (DOL) proposed updates to the overtime rule, which aimed to increase the salary threshold for overtime exemptions. Judge Sean Jordan ruled that the DOL exceeded its authority, effectively invalidating the rule nationwide.

In light of the ruling, the minimum salary threshold is once again set to $35,568, and the threshold for highly compensated employees is set to $107,432. The DOL may appeal the decision, but with a potential change in administration in January, the rule's future is uncertain. Employers are advised to consult legal counsel before making any changes to employee pay practices, especially in states with higher local thresholds. Read more here.

Commercial Auto Insurance Struggles Persist in 2023

The commercial auto insurance market faced continued challenges in 2023 despite significant premium rate hikes and underwriting changes. Insurers struggled with ongoing losses driven by factors such as increasing repair costs, higher claim severity, and litigation trends. Elevated claims from large trucking accidents and natural disasters also contributed to financial strain. These pressures have pushed insurers to focus on pricing discipline, risk segmentation, and other strategies to improve profitability. However, the market remains under pressure, highlighting the complexity of addressing these persistent issues effectively. 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: a New York man was charged with insurance fraud in a staged car crash captured on dashcam footage. Plus, a look at how the election could bring changes to the P/C insurance sector.

NYC Man Charged With Insurance Fraud in Staged Car Crash Captured By Dashcam

A New York City man was recently charged with staging a car accident in Queens to commit insurance fraud. The alleged incident, captured on dashcam footage that went viral, involved the suspect's vehicle cutting off another driver and then intentionally reversing into her car. The suspect was arrested upon returning to New York from Ecuador, while authorities are still searching for other accomplices. He faces multiple charges, including reckless endangerment and insurance fraud, to which he has pleaded not guilty. Read more here.

Election Could Bring Change to Property/Casualty Insurance Sector

The recent elections could lead to changes in the property/casualty insurance landscape as new policies emerge at both state and federal levels. The American Property Casualty Insurance Association (APCIA) aims to push federal legislation on third-party litigation funding transparency, while state-level tort reforms may continue. Experts suggest that Trump's potential tariff policies could increase repair costs for insurers, affecting premiums. Meanwhile, mergers and acquisitions may benefit from a stable tax environment, though challenges with foreign partnerships may arise. 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: FEMA will allow monthly payments for flood insurance under new NFIP update. Plus: St. Pete to spend millions on stadium after reducing insurance coverage.

FEMA Allows Monthly Payments for Flood Insurance Under New NFIP Update

FEMA has updated the National Flood Insurance Program (NFIP) to allow monthly premium payments, improving affordability and helping retain policyholders. This change follows legislative directives dating back to 2012 and aims to provide more financial flexibility for policyholders. Monthly payments may reduce the financial strain of lump-sum payments and encourage more consistent engagement with flood insurance. FEMA hopes that this option will also help policyholders stay informed about flood risks. Read more here.

St. Pete to Spend Millions on Stadium After Reducing Insurance Coverage This Year

St. Petersburg officials may be rethinking recent insurance changes after Hurricane Milton severely damaged Tropicana Field’s roof. Earlier this year, the city reduced the stadium’s policy limits from $100 million to $25 million, paired with a $22 million deductible, saving around $275,000 in premiums. Now, with substantial damage to the home of the Tampa Bay Rays, the city’s cost-cutting measures may prove costly in recovery. 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: a look at how natural disasters kickstart legal work, plus how to help workers understand and use their benefits.

Attorneys Reveal How Natural Disasters Kickstart Legal Work

Florida's legal landscape is bracing for a wave of claims following two back-to-back hurricanes this year. Legal experts anticipate a range of disputes, from typical insurance claims to unique cases involving property law and family law, which often see increases after natural disasters. The storm aftermath highlights vulnerabilities in the state’s legal and insurance systems, which face heightened pressure to manage rising claim volumes. Meanwhile, regulatory bodies are likely to revisit and possibly reform aspects of property insurance coverage. For more on the legal implications, read more here.

Workplace Benefits: How to Help Workers Understand and Use Them

Helping employees understand and use workplace benefits remains a challenge, as many find benefits confusing or underutilized. Open enrollment presents a critical opportunity for benefits brokers to clarify offerings and connect workers with personalized options. Tools are available that can help employees make informed decisions through surveys and tailored recommendations. With rising healthcare costs, companies are increasingly offering diverse benefits, including mental health resources, legal services, and identity protection. 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: claims from Hurricane Milton continue to rise. Plus, the problem with prolonged power outages.

Claims from Hurricane Milton Continue to Rise in Florida

Nearly two weeks after Hurricane Milton struck near Sarasota, claims and loss totals are still climbing. As of October 21, the Florida Office of Insurance Regulation reported over 221,582 claims, with estimated insured losses surpassing $2.7 billion. While significant, these figures are still far below the devastation caused by Hurricane Ian in 2022, where losses exceeded $21.3 billion. Citizens Property Insurance Corp., Florida's largest state-backed insurer, is expected to handle the bulk of the claims, having already reported 41,402 claims as of October 21. Read more here.

The Problem with Prolonged Power Outages

In 2023, nearly a quarter of U.S. households experienced a power outage, with many lasting six hours or more, according to the U.S. Census Bureau's American Housing Survey. These prolonged outages can lead to significant disruptions and financial losses, especially for households with medical devices or individuals with disabilities. Homeowners were more affected than renters, and rural areas saw more outages than urban regions. For those experiencing an outage, it is recommended to follow protocols such as keeping freezers and refrigerators closed and using generators safely. 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.