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Insurance Women Summit Will Sell Out!
75 people have already registered for IIABW's first Insurance Women Summit, which will be held on March 19 at the Heathman Hotel in Kirkland. We expect the event to sell out soon so if you plan to attend be sure to sign up ASAP. Also, if you need a hotel room, please book it by 2/25.
This groundbreaking event is dedicated to empowering women to thrive in every facet of the insurance industry. Through inspiring presentations, bold conversations, and transformative ideas, this day event will provide the tools, insights, and connections you need to elevate your career and leadership journey.
Income Tax Proposal Could Impact Your Agency
Senate Bill 6346, which passed the Senate this week, would establish a 9.9% income tax on annual earnings above $1 million (per couple). This proposed tax would impact 30,000 Washingtonians and generate $3.5B annually starting in 2029.
The bill will impact insurance agencies that are structured as pass-through entities (S-corps/ partnerships/ LLCs) where business income is reported on the owner’s individual return. Pass-through income can trigger the tax even without cash distribution to the owners. Under this tax, agency owners can face this proposed new Washington income tax on profits retained within the business for payroll, debt service, or expansion.
The bill also has tax relief. Most notable to agencies is it doubles the B&O small business credit and increases the B&O filing threshold from $125,000 to $250,000.
The Association of Washington Business (AWB) is taking a lead on fighting this tax against small businesses. Here is a 2 page summary of the bill's impact on pass-through companies - 90% of all independent insurance agencies.
Wildfire Risk Scoring Transparency Bill Update
Senate Bill 5928, which would provide consumers with more information about the wildfire risk scores, passed out of the Washington state Senate last week, with a vote of 48-1. The bill requires insurance companies to disclose wildfire risk scores when used, explains the factors behind the score, and provides plain-language steps consumers can take to improve their score. Property owners who have done mitigation work since their last evaluation, or see demonstrable inaccuracies with their current evaluation, will be able to appeal those decisions.
Wildfire Grant Program
Senate Bill 6079 creates a grant program to help homeowners retrofit current homes in high wildfire risk areas to the Insurance Institute for Business and Home Safety’s (IBHS) Wildfire Prepared Home standards. Homeowners who go through the program could not be canceled or nonrenewed based on their wildfire risk. The bill creates a pilot program that would initially be funded by the OIC’s regulatory accounts and works in tandem with the DNR’s Ready Neighbors program. The bill passed the state senate by a vote of 37-11.
Fraud Investigation Bill
The OIC’s Criminal Investigations Unit (CIU), which started 20 years ago, investigated over 4,000 fraud cases last year. According to the OIC, fraud cost insurance companies more than $300 billion a year. The OIC has advocated for the passage of House Bill 2394, which passed unanimously in the state Senate. It
- categorizes insurance fraud as a Class B felony and strengthens the OIC’s ability to catch and prosecute insurance fraud.
- expands the definition of “victims of insurance fraud” to include insurance consumers and insurance beneficiaries, which makes them eligible for criminal restitution,
- authorizes CIU to investigate ancillary crimes that impact the insurance industry, insurance consumers, or claim beneficiaries.
- Extends the statute of limitations to 10-year for insurance fraud
Dory Nicpon, Chief Legal Officer for the OIC's Criminal Investigations, will teach CE at IIABW's Young Agents Conference on May 6-8 at Campbell’s Resort on Lake Chelan.
IIABW Conferences in 2026
- 9/16-18 GO BIG Conference at the NEW Snoqualmie Hotel and Casino
IIABW Member News
- Sue Knobeloch recently retired from ARM NW after 11 years and from the overall insurance industry after 54 years. She was the first female in IIABW to serve as President and also as IIABA National Director. She is a recipient of IIABW’s Don C. Burnam, Agent of the Year and Susan Scott Education awards. She was the first female stockholder of Bratrud Middleton (now Propel) and worked there for 20 years. She also worked for Lovsted Worthington (now HUB) for 7 years.
- Karl Newman will be retiring for health reasons at the end of March from WSRB. He served as WSRB’s President & CEO for more than 10 years, and led a major transformation of their technology, processes, and culture. He will continue to serve on the WSRB Board of Directors.
- WSRB’s Chief Operating Officer, Cori Medrano, will be their new President & CEO on April 1. She has been a key driver behind WSRB’s Core Business Modernization initiatives and their professional development initiatives. She has 35 years of experience in the insurance industry.
WA Seeks Federal Aid for Flood Damage
Gov. Ferguson is asking the Trump Administration for a major disaster declaration that would
- unlock FEMA funds to cover up to 75% of the $182 million in damage to roads and other public infrastructure.
- up to $37M in disaster mitigation money, which would pay for upgrades such as flood walls to help prevent future damage from floods.
- more than $21 million in individual FEMA aid for people whose homes were damaged in the flooding. It would offer up to $43,600 to pay for temporary housing, repairs and other needs for people with losses not covered by insurance.
The Trump Administration signed an initial emergency declaration amid the flooding in December, which authorized immediate federal help for search and rescue operations.
IIAB of Spokane Hockey Night 3/11
On March 11, IIABS will hold their annual family Hockey Night in Spokane. IPFS and Spokane RIMS will be sponsoring the event which will include the hockey ticket, hot dog bar and raffle prizes. This event is attended by over 100 people each year so sign up soon.
More WA Businesses Looking to Leave State
According to a survey by the Association of Washington Business,
- the number of employers looking to move their business to another state has nearly doubled in the last year, going from 9% to 17%. Taxes were the most common reason given for relocation.
- businesses are now more than twice as likely to expand outside the state than within it (30% vs. 14%).
- 44% of business leaders are considering moving their personal residence out of Washington.
- only 9% rate the Washington economy as strong, with 33% rating it weak or very weak.
- one-third of the businesses said they are struggling or in a downturn, compared to only one-fifth that are growing.
PR & Local Media Strategies
The Big I has created a Public Relations Toolkit. Strategic public relations help your agency build credibility, drive brand recognition, and position your agency as a trusted voice on insurance. Topics include:
- Identifying newsworthy stories
- How to write a press release
- Leveraging LinkedIn
- Speaking with the media
Beginning AI Webinar – 2/25
Join the Big I's Agents Council for Technology (ACT) on 2/25 at 11 am for a free, beginner‑friendly webinar designed for agents who haven’t started using AI yet. You’ll learn:
- What AI really is (in plain language)
- Where it can safely support your agency’s daily work
- Simple first steps you can take — no technical background needed
- Receive a resource to help guide first steps with AI.
Big I Hires
Big I Hires is a robust online recruiting platform developed to help insurance agencies of all sizes hire top-performing sales and service staff. As an exclusive benefit, Big I members can access a free, limited-access account and benefit from core platform features. An array of tools and resources are available to find the right candidate with a few simple clicks and manage the entire process in one online location.
March Social Media Calendar
The March calendar includes content for independent agents, flood, and commercial insurance. Download the calendar for ready-made graphics that you can post. You will find a templates in Canva that you can use to customize and caption suggestions that you can customize for your agency.
New Vertical Videos
Videos are king of the social media algorithm. They're the perfect way to "level up" your social media presence. The Big I has added a set of vertical videos in the March Social Media Calendar, as well in the Content to Share library. They're punchy, professional, and designed to grab attention in a crowded feed!
Big I Articles
25% off Big I CE Webinars
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