E&O RISK MANAGEMENT AND THE CORONAVIRUS
COVID-19 INFO ON BIG I RISK MANAGEMENT WEBSITE: Every agent, every carrier and every insured is in unchartered territory as it relates to COVID-19. Find the latest Big I resources regarding E&O risk management in the pandemic on the COVID-19 tab of the EO Happens website. (+More...)
E&O BEST PRACTICES FOR RAPIDLY CHANGING TIMES (FREE WEBINAR): This free webinar includes reinforcements of topics that have been covered in prior sessions, as well as new issues and insights into the ever-changing landscape independent agents are facing. Hear where claims are coming from, and what best practices your agency can engage in. (+More...)
TIPS TO AVOID E&O CLAIMS: Our advice is no different from any other time. If your agency has developed good practices, you will be better positioned to avoid problems. Includes sample letter to commercial clients. (+More...)
DOs AND DON'Ts FOR WHEN AN E&O CLAIM ARRIVES: COVID-19 has changed the agency E&O landscape for the next several months. Proper actions and reactions when threatened or served with an E&O suit arising out of this pandemic are of utmost importance. Remember these “dos” and “don’ts” if you find yourself in an E&O situation. (+More...)
REGARDING CARRIER DIRECTIVES TO DENY CLAIMS: We hear agents are being told to deny claims related to COVID-19 and STRONGLY advise AGAINST determining coverage for carriers. Here's why... (+More...)
Tips for working from home
FREE BIG I WEBINAR - IIABSC Tech Tools for Working Remotely
IIABSC leadership got together for a panel discussion to help member agencies quickly implement a work-from-home strategy using easily accessible and inexpensive technology. Webinar covers types of technology needed, security concerns, interoffice communications, mail processing, binding policies remotely, handling phone calls remotely, in-person visitors and using video to conduct business.
"Six Tips to Help Your Insurance Agency Thrive Working Remotely" by Andrew Muller, Mappus Insurance Agency & IIABSC Technology Committee. Tools to get you started as well as a few concepts to keep in the forefront.
"If Not Now, When?" by Cheyl Koch, Agency Management Resource Group. Now is the best time to consider policies and other employment issues that come with remote work.
FREE BIG I WEBINAR - Your Agency and Telework-Dos, Don'ts and Practical Advice. Featuring Claudia St. John, SPHR, SHRM-SCP, President, Affinity HR Group, Inc., a Big “I” Hires partner, to get practical and actionable advice on how to implement a remote work plan for your agency.
Virtual RECOVERY Summit
Available ondemand for FREE
Innovation. Growth. Not typically two words that your agency is thinking about these days in the midst of a global pandemic. The virtual summit was created to provide your agency with strategies to map out a successful road to recovery, covering a variety of topics including reasons to be optimistic, adjusting your agency's marketing and retention efforts and staffing issues to consider during this unprecedented time. LEARN MORE
Families First Coronavirus Response & Coronavirus Aid, Relief and Economic Security (CARES) ActS
FREE WEBINAR: Agency CFO Advisory Group LLC explains the info needed for Payroll Protection Program loans. Available on demand. Also, view webinar slides and worksheet calculating how much to borrow and share with clients.
SEE NATL BIG I CORONAVIRUS GOV AFFAIRS PAGE
FREE WEBINAR: InsurBanc CEO discusses Payment Protection Program loans. Available on demand.
CARES ACT: Paycheck Protection Program loans v EIDL Grants "Flowchart"
National Treasury and Paycheck Protection Program (SEE ASSISTANCE FOR SMALL BUSINESSES)
More about the forgivable
Small Business Administration (SBA) loans
to keep employees on the payroll and other select operating expenses like rent, morgage and utilities. Aim is to have funds available locally by April 3. Includes information for borrowers and loan application. View/download PPP Fact Sheet
National Big I summary of CARES Act (Source: HR Affinity)
National Big I summary of Families First Coronavirus Response Act (SOURCE: HR Affinity)
SC Chamber of Commerce summary of FFCRA
Dept. of Labor Q&A regarding FFCRA
DOL FFCRA fact sheets for
employers and for employees
FFCRA Notice to Employees Poster
All employers covered by FFCRA (have fewer than 500 employees) must either post this notice where they post federal wage and hour posters or send to employees via electronic copy.
FFCRA FAQs by Fisher Phillips employment law firm
ESSENTIAL BUSINESS AND SERVICES?
As jurisdictions consider shelter-in-place and stay-at-home mandates, agents are asking if agency operations are included in the definition of “Essential.” (+More...)
CLIENTS CONSIDERED NON-ESSENTIAL: See Big I VU's Coronavirus and Commercial Property Vacany Concerns article. COVID-19 - Vacancy Provisions.docx
Coronavirus Coverage Issues
Overview by IIABSC Vice President Becky McCormack touches on business income, civil authority, property, CGL, auto, workers comp coverages. (+More...)
Cybersecurity Threats during COVID-19
FROM BIG I NY: As we are collectively distracted by the global healthcare crisis, cybercriminals are exploiting the situation in many ways. Study by Big I NY covers latest online scams as well as vulnerabilities of increased remote workforce and strained IT staff and tips to protect your agency. (+More...)
FROM STEVE ANDERSON (TechTips): Work-from-home vulnerable to computer viruses, fake information dashboard sites, typosquatters and travel scams. (+More...)
SC DEPT OF INSURANCE
SCDOI Coronavirus page
Bulletin 2020-3 discusses licensing during COVID-19 crisis
The SCDOI has granted all producers with a compliance deadline in March, April, May and June an additional
90 days to complete their CE requirements.
They have also extended surplus lines broker license renewal deadline by
90 days, now due Aug. 31. Bulletin also discusses temporary licensing without fingerprinting requirements and online testing.
Bulletin 2020-02 encourages industry to work with consumers
Director and SCDOI are expecting the insurance industry to “do the right thing” for insurance consumers. This action could include extending cancellation and non-renewal deadlines or extending premium payment deadlines among a number of other areas where consumers may request help. If agents encounter situations where this bulletin is not being followed, please share with
IIABSC President Frank Sheppard.
SC DEPT OF HEALTH AND ENVIRONMENTAL CONTROL
SC DHEC Coronavirus page
SC DEPT OF EMPLOYMENT AND WORKFORCE
SCDEW unemployment benefits for displaced workers
U.S. Small Business Admisinistration
SBA info on assistance specifically to keep employees on the payroll (Paycheck Protection Program)
SBA info on Small Business Disaster Assistance