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Feb 06
Gov. Lamont Proposes Agent Flood Insurance Disclosure Mandate

Gov. Ned Lamont​Gov. Ned Lamont

As anticipated, Connecticut Governor Ned Lamont this week proposed legislation mandating that insurance agents and brokers obtain written acknowledgement from certain insurance applicants regarding the availability of flood insurance and whether the customer declines to purchase flood coverage.  The new requirement would apply to consumers seeking coverage for homeowners, tenants, mobile manufactured homes and other applicable P&C coverages.  

Last week Big I CT shared concerns about this type of mandate during a flood insurance forum hosted by the General Assembly and Real Estate Committee as well as with key policy staff for Gov. Lamont and the House Majority.  While agents may utilize check lists and other processes to document interactions with customers, mandating signed documentation as a requirement to obtain coverage creates several challenges for customers and agents.  The requirement does little, if anything, to address the root cause of why many homeowners do not have flood insurance, which is added cost.  

Agents and brokers are an important resource for Connecticut families and businesses as they seek to make informed decisions about how to protect themselves from risk.  However, this proposal adds new costs to an industry that is heavily burdened by existing compliance requirements and will create unintended barriers for customers seeking to protect their property from loss.  

Big I Connecticut will continue to engage with members and policymakers as we pursue alternative solutions to help property owners understand their coverage needs and available insurance solutions.  

Jan 31
Big I CT Talks To State Lawmakers About Flood Insurance

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​Jaso​​​​​n Guerrera​

​Everyone needs flood insurance, but n​ot enough people buy it, Big I Connecticut told state lawmakers yesterday. The remarks came at an informational forum held at a joint meeting of the state House and Senate Insurance and Real Estate Committees at the Capitol. 

Big I Connecticut Vice-Chair of the Board Jason Guerrera, CSRM, of USI Insurance Services in Glastonbury appeared before the panel. He was joined by Assistant Vice-President of Government Relations Travis Wattie, MPA, CPCU, AINS, API. State Representative Kerry Wood (D – 29th District) and State Senator Jorge Cabrera (D – 17th District) moderated the event. Wood and Cabrera co-chair the Insurance and Real Estate Committee. 

The informational session was a response to the heavy rainstorms that caused flooding in some parts of the state last summer. Many residents and businesses discovered that they were uninsured against flood losses. 

Guerrera explained to the House and Senate members that the independent insurance agent's job is to educate buyers about the nature and scope of all the risks they face, including the risks of flooding. However, he said, “Ultimately it's a risk financing issue." High mortgage rates and food prices impact consumers' insurance purchasing decisions. A flood policy insuring a home in a low- to moderate-risk flood zone is $600 to $800. It can be four times that amount for a home in a high-risk zone. “Many people cannot afford it," he said. He estimated that 10 to 20% of properties carry flood insurance. 

Wattie spoke of the importance of independent insurance agents to their communities. “They work with the people they're looking to protect," he told the panel. Their top priority, he said, is “making sure that their customers understand their risk profile and understand the insurance solutions that are available to them." However, he also cautioned lawmakers against imposing a new requirement that agents obtain signed declinations of flood insurance offers from customers. A similar requirement for auto insurance in New York created a backlash. “It wreaked havoc to the point where legislators quickly came back because they were inundated with angry constituent phone calls." 

Guererra told the panel that agents are educated about flood risks and insurance because of existing continuing education requirements under state law. The National Flood Insurance Program also offers courses for agents who want to learn more. 

A video recording of the forum is available to view at https://ct-n.com/ctnplayer.asp?odID=24204 (Big I CT remarks begin at the 45 minute mark).

Jan 07
Balancing Client Service and Risk Management: Streamlining Success in 2025

Written by: Cindy Scharf, Agency Consultant


As an independent insurance agent, you juggle many roles—client advocate, team leader, business builder, compliance “cop", and more. Balancing amazing customer service with effective risk management might feel like walking a tightrope, but the right procedures can make it a breeze. Let's dive into five essential strategies to boost efficiency, deepen client trust, and shield your agency from risk.

1. Refine Your Processes

Take a moment to evaluate your current workflows. Don't have formal procedures yet? No worries—give me a call, and we will create a roadmap together!

  • Clear Communication: Keep clients informed with timely updates. Leverage tech tools like automated reminders for renewals or coverage changes to stay ahead.
  • Rock-Solid Documentation: Protect your agency by recording every interaction. For declined recommendations or reduced coverage limits, get signed client acknowledgments.
  • Consistency Matters: Standardize workflows to ensure every team member delivers reliable service every time.

2. Ace Client Onboarding

First impressions matter! Build a seamless onboarding process with a coverage checklist that uncovers exposures and cross-sell opportunities. Not only does this boost production, but it's also your safety net in case of E&O claims.

3. Embrace Technology

Is your tech stack working for you? Explore AI and automation to handle repetitive tasks, minimize errors, and save time. From centralizing communication to enhancing workflows, tech integration is the secret sauce for operational excellence.

4. Invest in Training

A well-trained team is a happy team. Offer ongoing training in technical skills, communication, and time management. Encourage your staff to pursue industry certifications—it's a win-win for morale and confidence. Visit www.bigict.org/education​ to explore the many training offerings. Remember, a knowledgeable team is your best defense against E&O claims.

5. Conduct Internal Audits

When's the last time you conducted an internal E&O audit? Regular audits help identify service inconsistencies, close operational gaps, and strengthen your agency's compliance. Think of it as a proactive way to safeguard your business.

By adopting these procedures, you're not just managing risk - you're building a resilient, customer-focused agency. Structured guidelines and thorough processes lay the groundwork for consistency, professionalism, and long-term success.

Ready to elevate your agency? Let's make it happen!

Operational Services


Dec 18
2025 Predictions

By AgencyFocus

Looking ahead to 2025, our AgencyFocus team put together some of our predictions for what agencies should be expecting in the upcoming year based on trends in data we have seen this year. Good news for almost everyone- we believe the market will begin to soften.


M&A Trends: Growing Divide in Agency Valuations 

M&A activity will remain strong but the gap between those that command strong multiplies and those that command weaker ones will continue to widen. This will be based on agency performance, risk, and transferability.

Softening Market: Overall Revenue Dip Based on Retention Rate 

As the market begins to soften, many agents who saw an all-time high revenue due to large rate increases will experience a dip in their overall revenue and growth as a rate correction occurs. For agencies that shrunk in policy count while rates were at their high, the gap created by rates stabilizing will be more severe than those agencies that maintained high policy retention rates during the hard market.

Staffing Challenges

For many agents, finding and keeping talent has been the number one factor keeping them up at night.  The continuity issues that are created when an agency has lost key people or has no next-generation employees who are willing to stay with the agency through a sale cause the agency's retention risk to increase. Agencies that face this issue should expect sale structures that include a retention clause if they expect to command a competitive multiple.

The use of Virtual Assistants (VA) will increase among agencies who want (or are forced) to have a lean team but keep high efficiency. VA usage isn't a new topic among the industry, but there is a great divide among agencies who have learned to leverage their power and agencies who have played with the idea but are not leveraging all of the benefits within their agency. There is lots of room for utilization increase among agencies of all sizes.


Interest Rates Drop: Spurring M&A Activity  

If interest rates remain stable or drop, many sellers may want to exit before their revenue drops, staffing challenges increase,  and the need for efficiency through technology and innovation continues. Many agency owners near or past retirement age will be contemplating an exit and those looking to grow by acquisition will have greater opportunities for acquisition.  

In one of our latest Insurance Refocused episodes with Mike Strakov and Mike Wagar from Live Oak Bank, we asked them their predictions from a banking perspective. Their predictions touched on rates, PE buyers activity, agency multiple trends, market softening and what that will look like for agencies.  

Listen to the full episode here: https:​​//agency-focus.com/insurancerefocusedpodcast


Smaller Agencies 

There will be acquisition opportunities with reasonable rates on smaller agencies who can't command PE multiples will be able to be purchased at reasonable rates. This will be based on their risk and overall expected cash flow. Given the expected correction in revenue due to the market softening, now is not the time to assume a rule of thumb multiple of revenue to all agencies as this practice can lead to many buyers overpaying for agencies.

Small independent insurance agencies will face the necessity of being highly adaptable to thrive in a digital and competitive marketplace. One effective strategy is to collaborate with insurtech firms or to implement digital platforms. It is crucial for these agencies to focus on technology integration that enhances human interactions, ensuring a tailored customer experience. Furthermore, by tapping into the expertise and resources of insurtechs, small agencies can protect their data and operations while offering clients more robust cybersecurity measures.​​

Dec 16
This is your association, and you're invited to get involved!

Big I Connecticut needs your expertise and your ideas.  Our volunteer leaders drive the future of the association, and in turn, your agency.


The Board of Directors sets the strategic vision of the Big I CT and is currently seeking director candidates for terms starting in September 2025.  You will represent your peers and help nuture a healthy insurance market in Connecticut.  Most past (and current) leaders will say that they got more out of serving on the board than they gave and made strong friendships.

NextGen is a group of young insurance professionals who network, learn and give back to the community.  The NextGen committee is looking for members to get involved to help enhance young pros careers and create growth opportunities in our great industry.

If you are interested in getting engaged in either opportunity or just looking for more information, we can help you.  Contact Kathy Lawler at klawler@bigict.org​. ​


Dec 11
Max Workers' Comp Payroll For Executive Officers Revised

​The maximum payrolls used for calculating Workers' Compensation insurance premiums for principals of employers are set to increase in 2025. The Workers' Compensation insuirance loss cost filing, recently approved​ by the Connecticut Department of Insurance, included increases for the maximum payrolls for executive officers, members of limited liability companies (LLCs,) sole proprietors, and partners.

​Here are the values for each classification for 2024 and 2025:


2024
​​2025
​Executive Officers
​$3,200 per week
​$3,300 per week
​Members of LLCs
​$3,200 per week
​$3,300 per week
​Sole Proprietors
​$81,900 per year
​$86,000 per year
​Partners
​​$81,900 per year​
​$86,000 per year


The new values take effect on January 1, 2025.

Dec 11
CT Workers' Comp Loss Costs To Drop 6% in 2025

​The Connecticut Department of Insurance has approved a filing that will reduce Workers' Compensation insurance loss costs next year. Gov. Ned Lamont said that loss costs will decrease​ by an average 6.1% in the voluntary market and 6.2% in the assigned risk plan. The new loss costs take effect on Jan. 1, 2025.

Loss costs are components of insurance rates that include the expected cost of loss payments and adjustment expenses for a given employer classification. They do not include provisions for insurer overhead and profit. Insurers separately file rating factors known as loss cost multipliers (LCMs) to reflect these amounts. 

The new loss costs were submitted by the National Council on Compensation Insurance (NCCI) last September. Average voluntary market loss costs have decreased every year since 2015; average assigned risk loss costs declined in 10 of those years and were unchanged in the other. 

The new schedule of loss costs is publicly available in the NCCI filing starting on page 21 of the file. ​

Dec 03
ACORD Changes Workers' Comp Assigned Risk App

​Insurance industry standards setting organization ACORD has announced​ minor revisions to its application form for Workers' Compensation insurance through a state assigned risk plan.  Big I Connecticut members who write Workers' Comp coverage through the assigned risk plan should start using the new application as soon as possible.

The form is ACORD 133 (2024/12), Workers Compensation Insurance Plan Assigned Risk Section. It replaces the 2017/12 edition. According to the announcement, the changes involve deleting old wording and replacing it with new wording in the Applicant and Producer Communications sections. 

The revised form should be available through agencies' ACORD Advantage subscriptions and agency management systems shortly.

Nov 26
Sharing Recipes: A Culinary Bridge Between Generations

​Food has a way of connecting us across time and space. Dust off an old recipe card from a loved one and bring it back to life in your kitchen. Maybe it’s your grandmother’s famous apple pie or your aunt’s secret cookie recipe. As you recreate the dish, involve younger family members, teaching them not just the recipe but the stories behind it.


The holidays are an invitation to reflect on the past while looking toward the future. By blending cherished traditions with new, meaningful experiences, you can create a season full of love, connection, and joy that resonates for generations.

What are your favorite holiday recipes and traditions? We'd love for you to share in the comments.


Here are a few of our staffers favorite Thanksgiving dishes they'd like to share with you:

MacConnell Scalloped Oysters
Shared by Julie Furst, our VP of Marketing, Communications & Events

Ingredients:
6 Tablespoons Butter
1 pint/lb. Oysters (East Coast Select) (Drained and checked for shell fragments)
1/2 Cup Half & Half or Heavy Cream
Salt & Pepper
1 Cup Ritz Cracker Crumbs
1 Cup Saltine Cracker Crumbs

Preparation:
Melt butter, add cracker crumbs and mix well. Butter bottom and sides of your baking dish. Put 1/3 cup of crackers crumbs in bottom of dish, followed by 1/2 of the oysters. Salt and pepper the oysters. Lay down second 1/3 of crumbs and second 1/2 of oysters. Salt and pepper the oysters then pour the cream over the top. Put remaining crumbs on top and bake at 350 degrees for 30 minutes, or until brown on top.

Notes:
It's important to use both the Rits and Saltines.

We triple this recipe - it's THAT delicious.

"This is a tradition in my family. My grandma always made it and served late night after Thanksgiving dinner, or sometimes the night before. We keep the tradition alive."


Whiskey Glazed Sweet Potatoes

Shared by Travis Wattie, our AVP of Government Relations

Ingredients:
3 Lbs. Sweet Potatoes (about 4 large)
1 Cup Pecans
4 Tbsp. Unsalted Butter (plus more for preparing baking dish)
3/4 Cup Agave Syrup (preferably amber)
1/2 tsp. Ground Cinnamon
1/2 tsp. Ground Nutmeg
1/4 tsp. Cayenne Pepper
1/2 tsp. Kosher Salt
1/4 Cup Whiskey
2 Cups Crisp Apples (peeled, cored & sliced into 1-inch pieces)

Preparation:
Preheat oven to 375 degrees. Place potatoes on a baking sheet and cook whole, do not pierce. Bake for 45 minutes to 1 hour. Lightly squeeze the potatoes - if they are soft, they are done. Let cool. In small saute pan over high heat, add pecans and lightly toast. Add 4 tbsp. butter, reduce heat to medium, add the agave and spices, and allow to simmer for 4 to 5 minutes. Add whiskey and continue to simmer another 5 minutes. Peel the potatoes and cut into 1/2-inch slides. Butter the bottom of a 8x8 baking dish. Arrange the potato and apple slices. Pour pecan whiskey mixture over the top and place in oven. Bake for 30 minutes, basting after 15 minutes with the sauce. Remove from oven and serve immediately.

"Whenever my mother says 'Is there anything special you want for Thanksgiving?', the answer is always these incredible sweet potatoes. No special meaning other than they hit the spot and now make a regular appearance on our Thanksgiving table. One tradition we have is for every holiday dinner, we HAVE to have Andes Mints, and, of course, HAVE TO make paper airplanes out of the wrappers. It's a rule."


Corn Casserole
Shared by Kim Keville, our Digital Marketing & Project Specialist

Ingredients:
2 Cans Whole Kernel Corn (drained)
2 Cans Cream Style Corn
2 Boxes Jiffy Corn Muffin Mix
1 Egg
16 Oz. Sour Cream
6 Tbsp. Butter (melted)

Preparation:
Mix everything together. Spray 9x13 baking dish with cooking spray. Pour mixture in. Cover and bake at 350 degrees for 1 hour. Uncover and cook another 30 minutes or until golden brown and not jiggly in the center.

"This is a holiday staple in my family. Not sure where the recipe originated, but I'm asked to make it for every gathering. Definitely my favorite Thanksgiving side dish!"


From the Big I CT family to yours, Happy Thanksgiving!!​


Nov 22
Celebrating 125 Years & the Bright Future Ahead

​As we celebrated our association’s remarkable 125th anniversary at this year’s CONNECT, we were reminded of the importance of honoring our legacy while looking ahead to the future. This milestone serves as a testament to the strength, resilience, and innovation of our industry. It also emphasizes the vital need to continue fostering growth and development in our field - particularly by encouraging young professionals and empowering women in insurance.

We extend our heartfelt thanks to ePayPolicy for their incredible support of young insurance agents and women in insurance during the event. Their dedication to investing in the next generation and championing diversity aligns perfectly with our association’s mission to cultivate an inclusive, thriving insurance community.​

As we reflect on 125 years of service, we are energized by the possibilities that lie ahead for our association and the independent insurance industry. The future of insurance depends on the next wave of talent and leadership, and encouraging young people and women to pursue meaningful careers in this field is critical to its sustainability and success.

Together, we can continue to create a welcoming environment where all can thrive and contribute to the growth of our profession. Thank you, ePay Policy, for being an essential part of this vision.

Here’s to a future full of promise, innovation, and opportunity!


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Want more information on our NextGen program?

Click Here​​

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