RI Insurance Data Security Act
IIARI’s Executive VP Mark Male testified in support of House Bill 7777 (Insurance Data Security Act) to the House Corporations Committee on March 15. The IIARI Government Affairs Committee worked to achieve an acceptable version of the original bill to avoid placing undue burdens on many member agencies.
Amy Vitale Promoted to Chief Legal Officer at Beacon Mutual
Amy Vitale has been named Chief Legal Officer at The Beacon Mutual Insurance Company. Vitale joined Beacon Mutual in 2012, and after serving as the Associate General Counsel, was promoted to General Counsel in 2017, and Chief Legal Officer in 2022.

“Amy has been a trusted leader at Beacon Mutual for over a decade. She is a proven advisor with a business-minded approach, exceptional legal acumen, and experience in governance and compliance matters. As we continue to drive innovative workers’ compensation products and services, her expertise in legal and business issues will continue to be vital to our success,” said Brian J. Spero, President & CEO at The Beacon Mutual Insurance Company.
Looking for a new designation? Need CE Credits?
Take a look at our full educational calendar for 2022!
April 18-21 (9:00 AM - 4:00 PM)
In-Person
April 27 (9:00 AM - 4:30 PM)
Hybrid Class | 8 CE Credits
April 13 (9:00 AM - 4:00 PM)
Hybrid Class | 6 CE Credits
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Rhode Island CPCU Scholarship Fund
SCHOLARSHIPS AVAILABLE
The Rhode Island Chartered Property and Casualty Underwriters (CPCU) Scholarship Fund is once again seeking candidates for its annual scholarship awards. These awards will range from $2,500 to $4,000 and are given to the applicants exhibiting the highest level of academic excellence. The winners will be recognized at the Chapter’s June awards banquet (pending review) or via a virtual zoom meeting.

Applications are due by April 15, 2022.
Are you looking for a way to earn more money while growing your business? With IIARIIs IMS program you can own your book of business, earn standard commissions as a sub-producer, and participate in any earned contingencies.
 
It works like an incubation program where you can apply to begin quickly writing policies with low to no volume commitments and earn commissions while you do it. Agencies also own 100 percent of their expirations and can participate in profit-sharing opportunities.
 
Because IMS offers a mix of standard and niche markets, you can take on clients’ niche requests and can write the policy you need when you need it without taking on additional minimums.
 
Lastly, you own your book of business and for many IMS markets, agents can qualify to roll that business toward a direct appointment once a pre-determined premium volume is reached. There are no additional costs or strings attached.
 
To sign up and start making money with IMS, click here.
The State of Women in Insurance
The digital-first report – The State of Women in Independent Insurance Agencies – is based on a survey of more than 350 women IAs and examines the workplace experiences of women through the lens of representation, compensation, and recognition. Some of the key findings include:

  • More than one-third of agency principals say they are often the only woman in the room
  • 52% of women under 50 who work as frontline staff are interested in becoming a partner in their agency
  • One in four female frontline staff don’t feel they are given equal opportunity in their agency
  • 64% of women in frontline staff roles feel they are paid somewhat less or significantly less than their male peers
Digital Extras
Experts Confirm Cyber Incidents Up Since Invasion of Ukraine; Insurance Underwriters Adapting

Since the start of the war in Ukraine, the number of cyber incidents in the U.S. has increased, and underwriters will need to adapt, according to a panel of experts at the PLUS Cyber Symposium.
Revealed – The Most Common Types of Insurance Fraud

The country’s insurance industry consists of an estimated 7,000 companies, collecting more than $1 trillion in premiums each year, according to the latest figures from the Federal Bureau of Investigation (FBI).
NFIP Legislation Introduced as Risk Rating 2.0 Deadline Approaches

Earlier this week, Sen. Bill Cassidy (R-Louisiana) and Sen. Kirsten Gillibrand (D-New York) introduced S. 3829, the “Flood Insurance Pricing Transparency Act."




Thanks to our Diamond sponsor -
The Beacon Mutual Insurance Company.
Do you have some agency news to share? Please send agency news and changes to tdrowne@iiari.com. We'd love to hear from you.
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