Weekly news & updates
June 17, 2021
News Affecting You
Update on Effect of Continued State of Emergency
Governor Beshear rescinded certain executive orders related to the coronavirus (COVID-19) pandemic on June 11, 2021. The easing of restrictions related to the virus has prompted various questions from stakeholders.

Although certain restrictions have been lifted, the state of emergency that the governor declared on March 6, 2020, remains in effect. (Executive Order 2020-215). So too does the subsequent State of Emergency Relating to Workers’ Compensation that the governor declared on April 9, 2020. (Executive Order 2020-277). 

Source: Kentucky Labor Cabinet
New Legislation Effective June 29, 2021
This bulletin is for information purposes only. It does not amend or interpret provisions of the Kentucky revised statutes or the Kentucky administrative regulations. The complete and accurate text of the law can be secured when the 2021 acts of the Kentucky General Assembly are published in the Summer of 2021. Unless otherwise noted, the effective date of the legislation is June 29, 2021.

Bills, as enacted, are available on the LRC website.

Source: KY Department of Insurance
Tech Security Alert
The Big “I" Agents Council for Technology has issued a security alert for all independent insurance agencies. Hackers are focused on targeting industry systems to access valuable data. Finance & Insurance is now the third most highly targeted sector of all industries, accounting for over 12% of all data breaches*. Keep in mind that in 2020, a total of over 37 million records were exposed.

And now, these bad actors are trying to get your agency credentials - IDs and passwords – using them to access quoting systems to obtain the data.

ACT has now seen major carrier data breaches where agency credentials have been used to access online quoting/rating systems, and is confident that attempts will only increase to target acquiring agency credentials to access all types of rating systems; carrier agent portals, agency raters, web-based consumer quoting.

Source: IIABA
Independent Agent Satisfaction Study Now Open
Big I KY members should be on the lookout for an email from the national Big I this week with a link to participate in the 2021 Independent Insurance Agent Satisfaction Survey. Once again, Big I has partnered with J.D. Power to examine how each service in the relationship between an agent or broker and their insurer impacts their overall perception of the company and identifies critical service standards that drive higher satisfaction. The study will provide a broad understanding of how carriers can improve agent and broker satisfaction, loyalty and advocacy. Everyone who participates in the study will receive a complimentary copy of the executive summary of results and receive a $20 incentive of their choosing - either a cash card or charity donation.
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EKU RMI Golf Outing
The Eastern Kentucky University Risk Management and Insurance Department is hosting a golf outing on Monday, August 30, 2021 at The University Club at Arlington.

Sponsorships are also available.
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