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IIABW Holiday Receptions in Kirkland & Spokane
IIABW’s Young Agents will be hosting holiday receptions for insurance professionals (of all ages). Take a couple hours before the holiday rush starts to network with your colleagues, win prizes and have fun. Both events will collect food for local food banks.
- November 18th at the Moss Bay Hall (111 Central Way, Kirkland) from 4:30 -7:30 p.m.
- December 10th in Spokane - Save the Date!
New OIC Claims Rule
The OIC recently passed a rule to get faster responses and more transparency from insurers on claims. The rules, which went into effect on Oct. 18, clarify and update the standards that apply to insurance companies for claims handling, including the timeframes for responding to customer questions, completing claim investigations, and determining the amount owed.
The insurer associations had asked to delay implementation of the comprehensive rule so they can get more clarifications from the OIC on complying with the rule and more time to configure systems, revise communications, obtain vendor information and train claims personnel and insurance producers.
The notification of a claim for agents hasn't changed: WAC 284-30-320 (14) "Notification of claim" means any notification, whether in writing or other means acceptable under the terms of an insurance policy or insurance contract, to the insurer or its agent, by a claimant, which reasonably apprises the insurer of the facts pertinent to a claim."
This is a good opportunity for agencies to review and tighten their claims counseling guidelines and documentation so they don't put their carriers in a bad faith situation.
Underinsured Properties
An OIC report of the two Spokane-area fires in 2023 found that two-thirds of people who lost their homes were underinsured. The OIC is finding similar issues this year in Spokane. Swiss Re, the Big I’s primary E & O carrier, wrote a good article entired, “Too Little, Too Late: Why You Should Make the Effort to Offer to Insure Properties to Value.”
WA Counties Rising Lawsuit Costs
The shared insurance risk pool that covers 24 Washington counties was $25 million short for the total asset test last year. Counties’ claims liabilities rose from $67 million in 2024 to $123 million last year.
Our state government’s self-insurance pool paid out more than $1 billion over the past three years, and reported that it began the year $1.7 billion short of its expected claims liabilities.
The risk pools blame their rise in claims on a change our state legislature made in 2024 which expanded the statute of limitations on certain types of lawsuits, which opened the door to claims for alleged sexual abuse stretching back to the 1970s. A state study on tort reform will be presented to the legislature next week.
Member News
- Lori Reed of Mitchell Reed & Schmitten will be retiring after 43 years in the industry. In 1988, she joined her dad’s agency in Wenatchee. Mike and Lori then ran the agency from 2000 until they sold it to Cashmere Valley Bank. She served as IIABW President and then as our representative to the IIABA Board of Directors. She served on the IIABA Invest Board and IIABA Diversity Council. She looks forward to being a full-time Grandma and perfecting her golf game.
- Pilkey Hopping & Ekberg has been named 1st place in the Best Insurance Agency category in the 2026 edition of The News Tribune’s Best of Pierce County
- Mutual of Enumclaw launched a new brand designed to strengthen the company’s market position and support long-term growth. The new brand builds on Mutual of Enumclaw’s 128-year history while more defining it as a strong, modern regional insurer with Northwest expertise.
Customers Can Purchase NFIP Policies Direct
The National Flood Insurance Program (NFIP) is launching its Direct to Customer (D2C) online flood insurance sales tool after piloting it in 8 states this summer, including Washington. The Big I has expressed concerns with the program to FEMA and Congress.
After receiving an online quote, the D2C tool offers customers to purchase online or connect with an agent. Click here for information about the agency registry, including how agencies may register for it.
Seattle Jobs & Inflation
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Seattle lost 19K jobs (3%) in 2025 while Bellevue gained 5K jobs (4%), Tacoma gained 700 jobs (.5%), Everett gained 400 (.5%). Employment grew just 1.7% across the broader Seattle metro area from 2019 to 2025, well behind 19 other U.S. metro areas.
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Seattle-area prices rose 4.4% this past year, while the U.S. city average increased 3.4%.
NFL Weekly Pick Winners
Congrats to the recent weekly winners of the NFL Picking Contest, which is being sponsored by IIABW's Young Agents, AMWINS Access and People Premium Finance: Nora Anderson of IIABW, Chris Myers of Western Insurance Associates and Jade Druffel of Cochrane & Co. Click here to sign up at no cost for a chance to win cash - $1,400 in total prizes! GO SEAHAWKS!
3 New Wildfire Laws in California
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SB 876 increases penalties for violations of fair claims practices during declared emergencies; requires insurers to provide policyholders with status updates within five days when a new adjuster is assigned to a claim; expands certain recovery protections, including increased Additional Living Expense limits following a declared disaster and requirements involving upfront payments, extended or guaranteed replacement cost coverage, updated replacement-cost estimates and building-code upgrade coverage.
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SB 1301 requires insurers to provide 90 days’ notice of a nonrenewal, clearly explain the reasons for the decision and provide homeowners an opportunity to address specified issues before coverage is terminated.
- AB 69 expands the ability of insurers to take policies out of the Plan and back into the voluntary market, but continues to require insurers to write policies through the incumbent broker of record.
ACT Disaster Planning Guide
The Big I’s Agents Council for Technology (ACT) has a guide to help prepare your employees, physical office, data, systems, and clients with procedures to implement when disaster strikes. Be prepared to serve your clients without power, phone, Internet, or even a physical office location.
Trusted Choice Evolving Market Toolkit
The Big I has created a free toolkit to help you successfully navigate evolving market conditions. Explore resources designed to help you strengthen client communications, improve retention, identify new opportunities, enhance agency operations and prepare for future market shifts.
IIAB of King/Snohomish Holiday Party 12/10 in Bellevue
The Big I of King and Snohomish Counties will hold a Masquerade Party at Black Bottle Postern in Bellevue. For more information, go to www.iiabkc.org.
CPCU Cyber Conference 10/27 in Bellevue
The Pacific Northwest Chapter of CPCU, in partnership with IIABW, will be hosting a one-day event featuring expert insights, emerging cyber risk trends, and valuable networking with leaders in risk, insurance, AI and cybersecurity. Please join us October 27, 2026 at the Bellevue Club. 6 CE have been approved by the OIC. For more information and registration, please go to: PNWRiskLeaders.org
Big I Articles
November Social Media Materials
The November calendar includes content on: fall, Thanksgiving, and Small Business Saturday. Download ready-made graphics that you can post throughout the month. Your agency can customize graphics by adding your own text, change a photo, include your agency logo, etc.
Offer Home Business for Over 100 Classes
IIABW endorsed and administered RLI’s Home Business Policy provides affordable coverage for those people who operate small home-based businesses.
RLI Umbrella Explainer Videos
RLI has videos available to help educate your customers about umbrellas and how their current personal lines policies may not be enough. The videos, which are available on RLI's YouTube channel, can be used on your website, in your marketing materials or other customer communications.
For more product features and eligibility information, visit IIABW's Web site or contact Ridge Ostling at our office. With the hard personal umbrella market, this IIABW program has been in great demand the last 5+ years.
Homeowners Insurance Rebounds
The U.S. homeowners insurance segment staged a dramatic recovery in 2025, swinging from a $1 billion net underwriting loss in 2024 to a $17 billion gain - the homeowners market’s first underwriting profit since 2019.
Profitability improved to its strongest level in more than a decade. The net combined ratio hit 88 in 2025 from 99 in 2024 and 111 in 2023, while the net loss and loss adjustment expense ratio dropped to 61. Both measures were the lowest recorded during at least the last decade.
Rising Cybercrime Losses
U.S. cybercrime losses reached $21 billion in 2025, up from $16 billion in 2024, according to a new Insurance Information Institute (Triple-I) issues brief, Commercial Cyber Insurance: State of the Risk.
Let the Big I Quote Your E & O
IIABW has been selling E & O insurance for 50 years and would like the opportunity to quote your policy.
- The quickest way to get a quote for your agency’s E&O is to complete a short Application. We can also give you a quote off your renewal application in most cases – contact us at EandO@wainsurance.org.
- Markets: 20+ Markets – both admitted and non-admitted “A” rated carriers
- Risk Management Tools: E&O Guardian with checklists, declination form templates, E&O audit, website reviews, risk management webinars & premium credits!
- Education: live webinars to earn CE credits and 10% – 15% premium credit on your E&O insurance.
25% off Big I CE Webinars
Save 25% with code FALL2026 (use code at checkout) on over 50 webinars,
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