NHID relaunches health-care marketplace

NHHealthCost.org, the New Hampshire Insurance Department’s online health-care marketplace, is back online after a several-month hiatus that allowed for site upgrades. Granite State residents now will be able to make more informed decisions about common health-care procedures such as knee surgeries, colonoscopies, MRIs, X-rays and more, by comparing rates at various statewide providers. More …  

PIA National offers webinar on federally facilitated marketplace registration

PIA National will host a free health-care webinar on the agent and broker federally facilitated marketplace registration for the 2015 plan year. The webinar is open to PIA members and will be held Tuesday, Aug. 12, 2014, from 3-4:30 p.m. For more information, or to find out how to register for this webinar, click here.  

NHID Network Adequacy Working Group meets July 24

The NHID will reconvene its Network Adequacy Working Group on Thursday, July 24, 2014, at 9 a.m., in the Brown Building, Concord. NHID members will present a conceptual framework for revised rules, and will share and discuss potential revisions to the current network adequacy standards. To reserve a seat at the meeting, email Danielle.Barrick@ins.nh.gov. More …  

TRIA bill headed to Senate floor

Sen. Harry Reid, D-Nev., the Senate majority leader, put forward a motion to proceed on S.2244, the Terrorism Risk Insurance Program Reauthorization Act, which should be voted on this week. S.2244 had been voted unanimously out of the Senate Banking, Housing and Urban Affairs Committee last month. This action by Sen. Reid begins the procedural process to consider S.2244 in the full Senate. Under S.2244 TRIA, set to expire at the end of 2014, would be extended for a period of seven years. The legislation would increase insurers’ copays to 20 percent from 15 percent. While the recoupment of federal payments will be mandatory if the insurance industry’s aggregate compensation loss is less than $37.5 billion, up from the current sum of $27.5 billion. These increases will be phased in over a period of five years. The proposed legislation also would be amended to include the National Association of Registered Agents and Brokers Reform Act. PIA supports the reauthorization of TRIA and urges the Senate to act on this legislation quickly to ensure that market disruption is minimized. To learn more about PIA’s position on terrorism insurance, read the May 2014 Terrorism Risk Insurance Issue Paper.  

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Noncompete litigation is on the rise

If an employee entered into a noncompete agreement, leaves his or her job and goes to work for a competing company, how enforceable is the agreement? While noncompetes may be disputed in court, a new procedural mechanism is on the rise: More potential employers are seeking declaratory judgments to have the noncompete declared unenforceable, likely drawing a motion for a temporary restraining order against the original employer and quickening a resolution. More … PIA understands that noncompete law is confusing, and provides members with a resource kit to help them understand the restrictions. To read more about noncompete covenants and agreements, access QS90572 in the PIA QuickSource library.  

PIA National issues update on NFIP changes

As PIANH previously reported, there have been a number of changes to the National Flood Insurance Program. PIA National issued a special bulletin that outlines all the changes and what they mean for agents. To read the bulletin, which includes information on changes to the BW-12 reforms and other bulletins, click here.  

PIANH offers CE-approved Webinar on NFIP changes

PIANH’s latest Webinar will help agents writing flood insurance for their clients sort out the latest changes with the NFIP. The Webinar will discuss the provisions of recent legislation, including what has been delayed and reversed. Additionally, the Webinar will review the June 1, 2014, floodmanual changes. The course will be held Tuesday, July 29, 2014, from 10-11:45 a.m. Earn NHCEU: 2 Flood Producer. For more information or to register, click here.  

PIA, Floodbroker.com offer sales tool that helps agents sell more flood insurance

PIANH and Floodbroker.com offer PIA-member agencies a unique sales tool to facilitate the sale of flood coverage and provide critical documentation of the agency’s efforts to do so. This exclusive agreement provides PIA-member agencies with a customized link installed on their own agency’s website to encourage current and prospective clients to consider and purchase flood coverage. The web portal leads consumers to flood insurance information, and with a simple application it will generate a quote for the customer, as well as a qualified lead for the agency to engage. More …  

NFIP refund procedures clarified

The Federal Emergency Management Agency has clarified the procedures for refunding amounts due insureds in its Bulletin W-14037.  

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NCCI reports on frequency of claims

The National Council on Compensation Insurance released its Workers Compensation Claim Frequency—2014 Update, which reports that workers’ compensation lost-time claim frequency declined by a relatively modest 2 percent in Accident Year 2013. The Great Recession of 2007-2009, which was the most serious and long-lasting economic contraction since the Great Depression, had a considerable effect on claim frequency changes. Frequency increased in Accident Year 2010 and has declined in each subsequent accident year.  

PCI/ISO release p/c insurer first-quarter report

The Property Casualty Insurers Association of America and the Insurance Services Office Inc. issued a joint press release on the private U.S. property/casualty insurers’ performance during the first quarter of 2014. Net income after taxes fell to $13.8 billion in first-quarter 2014 from $14.3 billion in first-quarter 2013, with insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus falling to 8.4 percent from 9.6 percent. Insurers’ pretax operating income fell to $13.7 billion in first-quarter 2014 from $15.8 billion in first-quarter 2013. Underwriting results prompted the combined ratio to deteriorate to 97.3 percent for first-quarter 2014 from 94.9 percent for first-quarter 2013.  

PIA Licensing Compliance Central

Do you have an employee looking to become licensed? Are you thinking about getting a nonresident license? Through PIA’s Licensing Compliance Central you have access to numerous resources, including information on the following topics: how to become licensed; renewal information; ability to print your license; CE requirements; and other state-related licensing resources. To learn more, click here.  

Technology Info Central: Stay on the cutting edge

Do you have the time to surf the web for the latest technology issues? PIA understands that, as a busy insurance professional, the answer to this question is usually "No." Through PIA Technology Info Central you can stay apprised of the latest news, access to vendors, Real Time initiatives, tech tips and more. To access the tool kit, click here.  

PIA helps members retain clients

The successful agency works hard at the onset to attract new business, but works harder to keep it year after year. Revolving-door agencies—which bring in clients one year, only to have them chase a competitor’s marginally lower quote the next—struggle to remain profitable in an increasingly competitive marketplace. Retention can be tricky for producers. Much of what you do for your clients is invisible to them. So when renewal statements hit their mailboxes, many customers think, "Why not shop around?" For effective retention and a book with stable growth, show your insureds year-round that you’re working for them. PIA Creative Services sells a line of consumer marketing materials—available for both personal and commercial lines at a fraction of what you would pay a marketing agency. Mix-and-match newsletters, self-mailer brochures, postcards and other pieces to create your own turn-key and worry-free marketing campaign. They are the perfect tools for sales or retention. For more information, email Mike Lee at mlee@pia.org or click here.  

Ask PIA: Agents’ rights when terminated

Q. What rights do I have when an insurer wants to terminate my contract with it? A. To identify your rights in an agency termination, review your contract. Generally, the insurer must adhere to the terms of your agency contract with them. For a more comprehensive answer to this question, click here. To access our entire Ask PIA library of frequently asked questions and expert answers by PIA’s technical staff, here here.  

Upcoming NEO series offered through PIANH

PIANH offers its New Employee Orientation series, which are online courses designed for new insurance producers. Insurance professionals with less than 12 months’ experience, who do not have their insurance license, should consider taking New Employee Orientation for Agency Personnel. They will build a foundation of insurance knowledge; explore the "big picture" of insurance (including terms and key concepts); discover how the agency delivers service to customers; and learn the importance of errors-and-omissions prevention techniques. Commercial Lines Coverage Basics is designed for new employees with 9-12 months’ experience. Employees log on to the course via the computer each week to get the training they need. There’s no travel, no interruption to daily agency activity and, best of all, no time out of the office. Both sessions begin Monday, Aug. 11, 2014. NHCEU: N/A. For more information or to register, click here.  

Upcoming Webinars

In addition to the upcoming PIA Webinar on the changes to NFIP (mentioned above), PIANH will offer the following Webinars in the next few months: E&O Hotspots … 2014 and Beyond^{^FF^UM} (Thursday, Sept. 4, from 10 a.m.-1 p.m., NHCEU: 3 GEN PRO); Agency Underwriting Profitability and Contingency Bonus Maximization (Thursday, Sept. 18, from 10-11:45 a.m., NHCEU: 2 GEN PRO); and Agency Staffing, Performance and Job Evaluations (Thursday, Oct. 2, from 10-11 a.m., NHCEU: N/A). ^{^FF^UM}—This course has been approved for E&O loss-prevention credit by Fireman’s Fund and Utica Mutual. Call the PIA E&O Department for details at (800) 424-4244. For more information or to register, click here.  

Incapacity of a key employee

The sudden incapacity or death of a key employee is a traumatic time, both personally and professionally. Planning for such events is never enjoyable and it often is at the bottom of a business owner’s to-do list. However, careful advanced planning can minimize the disruption an incapacity or death can have on a business’s operations. For the agency owner, there are numerous issues to be aware of related to an entity’s status as a corporation, an LLC or a partnership—and its status as an insurance sales business also imposes a set of unique considerations. For an overview of these considerations, access QS90726 in the PIA QuickSource library.  

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