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IIABW Lobbies Congress
Last week, IIABW members attended the our national Legislative Conference in Washington D.C. and met with Rep. Michael Baumgartner, Rep. Marilyn Strickland and Rep. Kim Schrier as well as staff from other Congressional offices. We discussed third party litigation funding, wildfire risk mitigation, reauthorizing the National Flood Insurance Program and terrorism insurance and health insurance transparency.
IIABW’s group included: President Reid Ekberg of Pilkey Hopping & Ekberg, President-elect Nick Brewe of Gallagher/Assured Partners, National Director Amberlyn McQuary of Stonebraker McQuary, Hans Eskelsen of WAFD Insurance, Melissa Power of WAFD Insurance, Pauline Black of Trucordia, IIABW Lobbyist Bill Stauffacher, Mike Erlandson of Vertafore, Casie Bowers of Liberty Mutual, and IIABW’s Daniel Holst.
To view pictures and the issues we discussed, click here.
Young Agents Conference Next Week
IIABW's Young Agents will be hosting a Conference for all industry professionals OF ALL AGES at Campbell’s Resort on May 6-8. To register for the event, click here.
WA’s Bond Rating at Risk
Moody’s issued a negative outlook for Washington State's finances. Our legislature has balanced the budget with the use of one-time fund transfers, including drawing down the state’s rainy-day account – which is at 8.4% of revenues and will be down to 1.4% by 2028. Washington has the lowest percentage of total reserves to tax revenues of any state in the country. Our reserves could only cover 13 days of state government operations- the national average is 48 days.
If Moody’s downgrades Washington’s debt rating in the next year, the cost to borrow for state projects will likely increase by about a quarter-billion dollars over the following four years.
Legal Fight Over State Income Tax
The Citizen Action Defense Fund, led by former state Attorney General Rob McKenna and former state Supreme Court Justice Phil Talmadge, filed a lawsuit challenging the constitutionality of the recently passed state income tax. Meanwhile, the state Supreme Court has agreed to consider a lawsuit from the group Let’s Go Washington challenging a portion of the law that blocks a simple referendum to repeal the tax.
IIABW opposed the income tax aimed at high-earners because it will also impact many small- and medium-sized businesses structured as pass-through entities.
Member News
Grange Insurance Association will rebrand as Granwest Insurance on July 1. The new name reflects both the organization’s agricultural roots and its focus on the communities it serves. “Gran” comes from the Latin word grānum (seed), and “West” represents the region the company serves. The change is effective July 1.
Federal Aid Available for Floods in WA
FEMA aid is available to people in the counties of Chelan, Grays Harbor, King, Lewis, Pacific, Pierce, Skagit, Snohomish, Thurston, and Whatcom for damage from the December 2025 floods. Assistance is available for temporary housing and home repairs, low-cost loans to cover uninsured property losses, and other programs to help individuals and families recover from the disaster. Your customers can apply at www.DisasterAssistance.gov or by calling 1-800-621-3362.
IBHS Wildfire Prepared Home
The Insurance Institute for Business and Home Safety (IBHS) has expanded its Wildfire Prepared Home designation program to Washington. The OIC sponsored a bill in the 2026 legislative session to create a pilot version of the Strengthen Washington Homes program. The OIC will be holding town halls and other outreach events in wildfire-threatened areas of the state this summer as part of their Community Connect initiative to answer insurance questions and discuss wildfire mitigation work.
Claims Volume Declines in 2025
According to data analytics company Verisk, there is good news on 2025 claims:
- Homeowners claim volume reached the lowest level in the past five. In 2025, homeowners claims declined 19%.
- Personal auto claims volume declined 3% in 2025, following a 5% decrease in 2024. Personal auto theft claims volume declined by 25% in 2025 and 24% in 2024.
- Commercial property claims declined 22% the last two years. Commercial auto claims fell 5% in 2025 but remained 14% higher than in 2021.
And there is bad news with claims:
- Commercial auto claims involving gig-related workers rose 96%, increasing to 10% of all commercial auto claims.
- The number of claims involving silica or crystalline dust increased from 100 to 2,000. PFAS-related claims also rose significantly.
- The number of e-bike-related claims quadrupled.
New Big I Guide to Service Provider Contracts
The Big I Office of General Counsel published a general guide on common provisions in service provider contracts which cover issues like ownership of data, data security and artificial intelligence.
Who Says Insurance is Dull?
List of WA Homeowners & Auto Rate Increases in 2025
As a membership benefit, IIABW has compiled a list of all homeowners and personal auto rate changes in 2025 by company that were approved by the OIC. Click here for the Homeowners report and click here for the Personal Auto report.
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