January 2025 Newsletter

West Virginia State Capitol Building - Charleston_ WV

West Virginia News

Governor Names Republican Attorney to Vacated, Disputed House Seat

Gov. Patrick Morrisey announced that he’s named the president of the gun rights organization Citizens Defense League to a vacated and disputed House of Delegates seat.

Morrisey Introduces Point Man to Compete on Energy, Infrastructure and Economics

Gov. Patrick Morrisey has introduced a Backyard Brawl Czar to lead his administration’s economic competition against surrounding states.

Nelson Aiming to Aid Morrisey as Revenue Secretary, Tackle Upcoming Budget Challenges

Former state Senator and Delegate Eric Nelson, R-Kanawha, is looking to affect change in West Virginia in his new role as revenue secretary.

Big I On the Hill

House Takes Action to Address Wildfires and Study Insurance Market

Last Thursday, with California wildfires continuing to rage in the background, the U.S. House of Representatives passed H.R. 471, the “Fix Our Forests Act of 2025." This legislation passed with a bipartisan vote of 279-141, proving that the wildfire problem goes beyond political affiliations.

Legislation to Eliminate FIO Introduced in House

On Jan. 23, Rep. Troy Downing (R-MT) introduced H.R. 643, the “Federal Insurance Office Elimination Act" in the U.S. House of Representatives. The act affirms the state regulatory system and abolishes the Federal Insurance Office (FIO).

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InsurPac Closes the Books on 118th Congress

InsurPac, the Big “I" political action committee (PAC), raised $1,291,724 during the 2024 calendar year. A total of 3,227 donors invested an average of $400 per person.

Big I Day at the Capitol

Registration is now open for the 2025 Big I Day at the Capitol. The agenda for this event is below. We hope you will plan on joining us! To register, click here.

Agency M&A Down 10% in 2024

There were 750 insurance agency and brokerage mergers and acquisitions in 2024, down 10% from the 833 reported in 2023, according to a report from OPTIS Partners, an investment banking and financial consulting firm specializing in the insurance industry.

Registration coming soon for this event! If you plan on attending, please make your room reservations for Thursday, March 6th, at the Corduroy Inn as soon as possible by clicking here.

Consumers Want Phone Communication but Often Don’t Pick Up

Nearly 8 out of 10 consumers believe phone calls are important for communicating with businesses. However, 80% will also block calls from numbers they don't know, according to new research from TransUnion.

The report also highlights the tension created by consumers wanting to answer calls from businesses for their most personal, complex and urgent issues, yet being afraid of fraud.

New Year, New Administration: What New Laws Can Employers Expect?

Every year brings new employment regulations that companies must navigate. Add a new administration and companies can expect more changes as the year evolves.

3 Tips to Integrate New Technology into Your Agency Workflow

As new technology solutions come to the forefront for independent insurance agencies, some of the biggest hurdles agency leaders face today involve extracting the full potential from these technology partners. Yet, in the rush to find solutions to top-of-mind problems, integration often gets overlooked.

5 Cybersecurity Prevention Steps Businesses Can Take Now

Cyber risks are the top concern for U.S. businesses, according to the “2024 Travelers Risk Index," topping the list for the fourth time in six years. Across the country, 1 in 4 businesses reported that they have been victimized by a cyber event or data breach, the ninth increase in 10 years.

5 High-Net Worth Market Trends to Watch in 2025

In 2024, a dramatic increase in social inflation, extreme weather events and rising insurance costs presented significant challenges to the personal lines property & casualty insurance market, with the high-net worth customer segment no exception. And while there are signs of stabilization in certain regions, some challenges will follow us into 2025.

Help Clients Understand the Importance of an Umbrella in a Turbulent Market

Over the past few years, the personal umbrella market has been impacted by adverse factors including rising inflation, an increase in the frequency and severity of claims, as well as deteriorating loss ratios. The losses experienced in this market are considered outside of the norm for the segment and have led to carriers altering what and how much coverage they are willing to offer. What was traditionally a market that offered a lot of choices for customers has now become a little more unpredictable.

BIG I WV LEADERSHIP

Suzette Raines Ashley, President

Ashley Insurance Agency, LLC

Chris Parker, Vice President

Ferrell & Hill Insurance Agency

Anthony Deal, Treasurer

Insurance Centers

Chad Nuzum, Immediate Past President

Hood Insurance Group, LLC

Terri Dodrill, State National Director

McGriff Insurance Services

Brady Campbell, Young Agents Chair

Mountain State Insurance Agency

Traci Nelson, Chief Executive Officer

DIRECTORS

Michael Winter

Bray & Oakley Insurance Agency

Beth Bailey

Bill Bailey Insurance Agency

Mike Cvechko

Cvechko Insurance Services

Charlie Robinson

Assured Partners dba Insurance Systems

Nick Dyer

Blueridge Risk Partners

From the President

Dear Members,

I hope you all had a great January and are looking forward to being one step closer to spring! As we move into 2025, I hope each of you had a wonderful holiday season and are ready for another exciting and productive year ahead. With the new year comes new opportunities, and I am thrilled about what’s in store for our association and our industry.

The 2025 Legislative Session is just around the corner, and that means it’s time for one of our most important events of the year—Big I Day at the Capitol! This event is coming up February 24th & 25th. This is a crucial time for us as independent agents to have our voices heard, build relationships with our legislators, and advocate for the issues that impact our businesses and customers. I encourage all members to join us as we work to ensure a strong and thriving insurance industry in West Virginia. Click here to register.

I am also incredibly proud to share that we exceeded our 2024 InsurPac fundraising goal! Thanks to the dedication and generosity of our members, we went above and beyond our target, demonstrating our commitment to supporting pro-business and pro-insurance candidates who understand the importance of our industry. But we’re not stopping there—our 2025 goal is set at $4,500, and we intend to blow past that number once again. If you haven’t yet contributed to InsurPac, please consider doing so by clicking here. Every dollar makes a difference in protecting our profession and advocating for the needs of independent agents.

Looking ahead, I am excited about our upcoming Young Agents Winter Retreat at Snowshoe on March 6th & 7th. This is always a fantastic event that brings together the next generation of insurance professionals for education, networking, and, of course, some winter fun. Registration details will be distributed soon, but I encourage you to secure your room reservations now—Snowshoe lodging fills up fast! Click here to make your March 7th reservation.

Beyond our events, this year brings fresh challenges and opportunities in the insurance industry. As independent agents, we must remain dedicated to providing top-notch service to our clients, navigating regulatory changes, and adapting to evolving customer needs. Our role is more important than ever, as we help individuals and businesses protect what matters most to them. I encourage you to take advantage of all the resources and advocacy efforts that Big I WV provides to support your success.

Thank you for your continued engagement and support. Let’s make 2025 a year of growth, advocacy, and achievement for independent agents across West Virginia!

Sincerely,

Suzette Raines Ashley

President