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120 Attend Young Agents Conference - Pictures
120 insurance professionals attended the Annual Young Agents Conference recently in Chelan. It was a great opportunity for emerging industry leaders to learn from industry experts, make new contacts and have fun. Click here to view pictures from the event.
OIC New Claims Handling Standards Rule
The OIC is finalizing new rules to create a more fair and transparent claims process, particularly when the insurer is considering coverage determinations, and the loss and damage valuation that is owed under the policy. The proposed rules add additional requirements for the insurer to provide detailed information to the claimant.
Premium Change Transparency Update
The OIC is finalizing rules that would:
- delay the implementation date of phase two of the premium change transparency rules until 2029. This phase will require a much more detailed report customized to each customer on the reasons for the rate increases sent to personal lines customers. This phase will also be much more expensive for carriers to comply with.
- Beginning 3/1/27, insurers shall provide reasonable explanations including the primary factors causing the premium increase. Consumers can ask their insurer for a more detailed explanation of the factors via email.
Commissioner Kuderer Spokane Events 5/16 & 5/20
Commissioner Patty Kuderer attended the Wildfire & Forestry Safety Fair in Deer Park on May 16 and a will be at a town hall meeting in Medical Lake on May 20 as part of her Community Connect outreach events. She will meet residents of wildfire-threatened areas and discuss their issues with home insurance.
Record Low Snowpack
The Dept. of Agriculture’s Washington Water Supply Outlook Report shows statewide snow water equivalent at just 42% of normal which has impacted all major water basins around the state. The Upper Yakima Basin is at just 16% of normal, while the Olympic and Lower Snake–Walla Walla basins are at 29%. 40% of Washington is classified as experiencing moderate drought, while an additional 27% is considered abnormally dry.
Member News
The Safeco Insurance brand has been retired. All personal lines products are now solely marketed as Liberty Mutual and policies will not change. Safeco celebrated its 100-year anniversary in 2023.
Big I E & O Articles
13% Drop in Health Insurance
Washington saw a 13% decline in health insurance enrollment this year as premium tax credits expired, marking the largest drop since the state’s insurance marketplace launched in 2012. 250,000 Washingtonians enrolled in a qualified health plan through Washington Healthplanfinder during the 2026 open enrollment period.
The number of enrollees receiving federal premium tax credits fell to 163,000 from 215,000 in 2025. 65% of qualified health plan enrollees now receive federal tax credits, down from 75%.
More Employers Looking to Leave WA
According to a study by the Association of Washington Business:
- 24% of employers say they’re considering relocating their business — up from 17% last quarter.
- 38% say they plan to expand in another state or country, up from 21% in winter 2025.
- In Spokane County, 31% are planning to move their business to another state, and 56% planning to expand outside Washington.
- 7% rate the state economy as strong or very strong, down from 10% last quarter and down 16% since winter 2025.
- 72% cite the overall tax burden as a top business challenge (up from 64% last quarter and 54% in winter 2025).
CA Taking Action Against State Farm
The California Department of Insurance (CDI) is taking action against State Farm over their mishandling of insurance claims from the January 2025 Los Angeles wildfires. State Farm policyholders filed 11,300 residential claims, one-third of all claims from the fire. The CDI reviewed 220 claims and found 398 violations of state law in half of those sample claims. The CDI seeks millions of dollars in penalties. As of March 3, insurers have paid out more than $24 billion in claims from the L.A. wildfires, according to the CDI.
Industry Articles
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.
Compare RLI With Other Standalone Umbrellas
Compare the RLI Personal Umbrella Policy with other standalone PUPs using our comparison chart. Important standout features include no fees beyond the quoted premium, self-underwriting, esign/electronic transactions, ability to switch underlying carriers midpolicy, property acquired mid-term is covered until renewal, underlying auto limits as low as 100/300/50, etc.
IIABW endorsed and administered RLI Standalone Personal Umbrella can be accessed by contacting Ridge Ostling. For more information, click here.
Which Retirement Plan is Right?
Having trouble deciding which retirement plan is right for you or your agency? Big I Retirement Services can help you choose which plan best meets your circumstances. We’ve worked with more than 1,000 agencies to help them achieve their retirement goals.
25% off Big I CE Webinars
Aben Winter CE sale! Save 25% with code SPRING (use code at checkout) on over 50 webinars,
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