In this Email:

• A Message from the VRTA President
• During a "hard market", independent agencies are more important than ever
• Today’s Interest Rates
• Can We Be The Leaven?
• Important VRTA Dates to Remember

July 2023

President’s Message

It appears as if the Fall Conference is approaching at warp speed.  As soon as we had the Spring Delegate Assembly in the rearview mirror, we see a sign ahead signaling the beginning of the upcoming Conference scheduled for September 26-27, 2023.  Again, VRTA’s designated site is the DoubleTree by Hilton, Richmond-Midlothian, Virginia.  In order to receive the VRTA special rate of $134.00 per room per night, room reservations for individual attendees must be received on or before Friday, August 25, 2023.  The check-in time is 4:00 p.m. and check-out time is 11:00 a.m.  Reservation cancelations must be received by the hotel at least 48 hours prior to arrival to avoid being charged one night’s room and tax.

The Spring Delegate Assembly’s evaluation forms have been read and some suggestions have been incorporated into planning the Fall Conference.  Other suggestions will be addressed at a more appropriate date.  Thank you for your input.

Again, we are asking units, individuals, and districts to donate gifts to be used as door prizes.  The gift should reflect something that is unique to your region.  We ask that you sign in at the Prize Patrol table so that you can be recognized for your donations.  There was excellent participation at the Spring Delegate Assembly.

The Marketplace is being offered again for those that want to participate.  For more information contact Karen Whetzel at kswhetzel@gmail.com.

August 11, 2023, is the deadline to submit articles for the VRTA Fall Newsletter.  Send your articles to Susan Martin at susanmartin730@gmail.com.

VRTA’s Mission is, “To be the voice, resource and connection for all retired school personnel.”  In order to accomplish our mission, we ask District Presidents to share Newsletters and other pertinent information with their Unit Presidents and Unit Presidents to share with their members.  Encourage members to check vrta.org for information.  All VRTA and Creekside Newsletters are posted on the website under the newsletter tab.  Also, encourage at least one representative from your unit to attend the Fall Conference. 

Committee chairs need to provide the secretary with a list of their committee members.  Also, submit a synopsis of your committee report to the secretary at each VRTA Conference.

Our keynote speakers for the Fall Conference’s Tuesday Luncheon will focus on membership recruitment strategies and strengthening ties with VRTA.  There will be a question-and-answer period at the end of the session.  More details and other presenters will be introduced as information becomes available.

VRTA is an organization made up of volunteers.  Have you considered volunteering to work on a committee or becoming an officer?  There are some that hold multiple positions because there is no one who will step up.  I know you have ideas because they show up on evaluation forms.  Please, consider volunteering for an office or a committee!

Facebook and vrta.org are excellent sources of information.

Jean Marrow

VRTA President

Jean Marrow

VRTA President

Phone: 804-350-7719  

Email: marrow.j@aol.com

VRTA Benefits

Offered through Creekside Insurance Advisors, Inc.

Call Us Today!! (540) 722-2529

Toll-Free (800) 467 5425

Email: savenow@creeksideadvisors.net

During a “hard market”, independent agencies are more important than ever

What is a hard market?

A hard market in insurance refers to a period when the insurance industry experiences challenging conditions that result in higher premiums, reduced capacity, stricter underwriting, and limited coverage options for policyholders. In a hard market, insurers face increased costs, losses, or other factors that make it more difficult and costly to provide insurance coverage. Here are the key characteristics of a hard market:

1. Rising Premiums: During a hard market, insurance premiums tend to increase significantly across various lines of insurance. Insurers raise rates to compensate for higher costs, increased claims, or a need to restore profitability.

2. Reduced Capacity: Insurers may reduce their willingness or ability to underwrite certain risks or lines of business during a hard market. They may limit the amount of coverage they offer or become more selective in the risks they choose to insure.

3. Stricter Underwriting Standards: Underwriting criteria become more stringent in a hard market. Insurers carefully assess risks and may impose stricter requirements, higher deductibles, or additional conditions to minimize their exposure to potential losses.

4. Limited Coverage Options: Policyholders may find fewer insurance options available to them during a hard market. Insurers may reduce coverage extensions, eliminate certain policy endorsements, or become more cautious in offering specialized or non-standard coverage.

5. Increased Loss Ratios: Insurers may experience higher loss ratios during a hard market, meaning that a larger portion of the premiums they collect goes towards claims and related expenses. This can be due to factors such as increased claim frequency, severity, or adverse market conditions.

6. Market Imbalances: In a hard market, there may be an imbalance between the demand for insurance coverage and the supply of available coverage. Insurers may become more selective in the risks they choose to underwrite, leading to a concentration of risks within the market.

7. Economic and Industry Factors: Several factors can contribute to a hard market, including natural disasters, catastrophic events, changes in regulations or legislation, economic downturns, low investment returns for insurers, or shifts in the overall insurance market cycle.

During a hard market, policyholders may face challenges in obtaining affordable coverage and may need to review their risk management strategies, explore alternative options.

What’s the advantage of working with an independent agency?



It’s a great advantage to use an independent agency during a hard market. Independent agents work with a variety of companies to get you the best coverage at the lowest premiums. At Creekside Insurance Advisors, Inc., we have access to well over 30 companies. That means choice. And choice to you can mean lower rates, less restrictive policies, and better coverage.

Phone (540) 722-2529

Toll-Free (800) 467 5425

Email: savenow@creeksideadvisors.net

Can We Be The Leaven?

Well, redistricting did just what it was intended to do, as shown in the June primaries.  To be fairer, it resulted in changes in the make-up of the General Assembly.  The new districts paid no attention to protecting the seats of incumbents, as the old districts did when the lines were drawn by the majority party.  Therefore, some long-time legislators were paired with colleagues in their party and chose to retire instead of being an opponent, leaving open seats.  Some were defeated in the primaries.  Several delegates decided to run for the Senate, leaving open House seats.  The result is a hemorrhaging of institutional knowledge and leadership but also an opportunity for new approaches to problems and a change in political control.  Which party showed more strength and benefited more depends on which pundit you listen to. 

Those who enjoy numbers will note that in the 100-member House, a combination of retirements, leaving to seek other offices, and defeats means 33 departures.  In the 40-member Senate, there were 16 departures, meaning that 40% of the Senate next year will be new.  Of the 15 members of the powerful Senate Finance Committee, 9 will not be returning, 5 of whom are Democrats and 4 Republicans.  If elected in November, 5 Democrats and 1 Republican will likely be returning to that responsibility.   Currently, the Senate has a 22-18 majority; the House has a 52-48 majority.

Some commentators have opined that in the primaries, Republicans seem to have chosen slightly more moderate candidates while Democrats leaned slightly toward more progressive ones. In a Cardinal News article just after the primaries, Steven Farnsworth, political analyst at the University of Mary Washington reflected, “We are a long way in Virginia politics from the moderate dominated legislative assemblies of the past.  This election [in November] cycle will be largely about demoralizing the opponents.”  “Primaries are about empowering the most extreme 5% of the electorate on each side.”

So, will VRTA members be the leaven in this mix?  According to the dictionary, leaven is a substance that causes fermentation and expansion of dough or batter causing it to rise; to permeate with an altering or transforming element of raising or lifting, causing a gradual change, esp. with some moderating or enlivening influence.  All elections are important.  They have consequences. The undercurrents, the trends that we see in our political landscape today are fueled by rhetoric that depends on name-calling, distortion of facts, exaggeration, and a blatant use of scare tactics.  A disregard for truth and an acceptance of hypocrisy destroy trust not only in leaders but in vital institutions.  

Certainly, VRTA members can be the leaven in this mix but only if we as individuals as well as an organization commit to educating ourselves and to being active.  The best change, like that brought about by leaven, happen over time with permanent, positive, systemic results.  

Bea Morris 

VRTA Legislative Chairperson

Email: beam1340@verizon.net

Important VRTA Dates to Remember

Friday, August 11, 2023: deadline for submitting information for the VRTA Fall Newsletter, submit to Susan Martin at susanmartin730@gmail.com

September 26-27, 2023: VRTA Fall Conference at the Doubletree in Richmond, VA

April 16-17, 2024: Spring Delegate Assembly at the Doubletree in Richmond, VA