ELANY reminds brokers to renew BE licenses

All current excess-line broker business entity licenses (corporation, LLC or partnership) expire on Oct. 31, 2014. The New York State Department of Financial Services will not be mailing renewal license applications. The Excess Line Association of New York and DFS recommend that you renew online by clicking here.   

NFIP documentation requirements for primary residence status

In Bulletin W-14001 dated Jan. 16, 2014, the National Flood Insurance Program provided revisions that require insurers to send the Important Notice to Residential Policyholders to certain residential policyholders as part of the June 1, 2014 Program Changes. Bulletin W-14048 updates these provisions to include an alternative statement that policyholders can sign to verify their primary residence status if the documentation listed is not available. Insurers can begin using the revised notice immediately.  

PIA, Floodbroker.com offer tool to help agents sell more flood insurance

PIANY 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 …  

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Countdown to TRIA reauthorization

With the new Congressional session just around the corner in September, your association continues to support the reauthorization of the Terrorism Risk Insurance Act. The Senate has already approved a TRIA reauthorization bill, in a 93-4 vote. However similar efforts in the House have resulted in a stalemate as conservative members of the House continue to lobby for the inclusion of sweeping changes to the TRIA program in any reauthorization bill. Watch upcoming PIA publications as the session heads into midterms, as we predict that this issue will be a major talking point during elections. More …   

Ride-sharing issues take stage around the nation

Illinois Democratic Gov. Pat Quinn vetoed legislation that would have put into place statewide regulations on ride-sharing services competing with taxis, citing reticence toward implementing what seemed to be a "one-size-fits-all approach." Taxi drivers as well as legislation sponsors criticized the veto, saying that ride-sharing services such as Uber and Lyft ignore residents in working-class areas of Chicago. More … In California, drivers providing ride-sharing services through these popular apps would need to carry a minimum level of insurance, under A.B.2293, which the state Senate approved this week. More … What this means for agents: Ride sharing has been a controversial topic in New York state. More …  

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Ask PIA: Disruptive client—agency refusal to write coverage

Q. What do you do with a client with whom you no longer want to work? We have an insured who is very disruptive when he comes into the office to make a payment. A. New York State Insurance Law contains no requirements regarding the termination of a broker contract with an insured. The terminating broker should advise the insured of the right to continue coverage with the insurer, and the right to choose a new agent or broker if the insured so desires. The insured still has the right to continue the policy with the insurer unless canceled or renewed in accordance with New York Insurance Law Section 3425 or 3426. Contact the carrier and inform them of your wish to be removed from the client after you have informed the client of the termination. 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, click here.  

PIA’s Custom Class: CE when and where you want it

With the PIA member-exclusive Custom Class program, your employees get tailored, targeted knowledge and continuing-education credit without leaving the office. Get more value out of the time and money your agency or company is investing in CE when you plan a program to suit your needs. With PIA Custom Class all licensed insurance professionals in your agency or company earn CE credits at the same time, at substantial cost savings. And, they’ll gain important knowledge specific to your business’s operations that they can start implementing immediately. PIA can help you create a winning spirit throughout your business while staying up-to-date with state licensing requirements. More …  

Upcoming PIANY Webinars

PIANY 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., NYCE: 3 BR, C3, LB, C1, LSB, LA, PC, PA); Agency Underwriting Profitability and Contingency Bonus Maximization (Thursday, Sept. 18, from 10-11:45 a.m., NYCE: 2 BR, C3, LB, C1, LSB, LA, PC, PA); An Intro to Cloud Computing and Managed Network Services, Data Security, Business Continuity (Tuesday, Sept. 23, from 10-11:30 a.m., NYCE: N/A); Agency Staffing, Performance and Job Evaluations (Thursday, Oct. 2, from 10-11 a.m., NYCE: N/A); E&O Hotspots … 2014 and Beyond^{^FF^UM} (Thursday, Oct. 16, from 10 a.m.-1 p.m., NYCE: 3 BR, C3, LB, C1, LSB, LA, PC, PA); Top Ten Personal Lines Endorsements (Tuesday, Oct. 21, from 10-11 a.m., NYCE: 1 BR, C3, PC, PA); and Ethics—Something Worth Pursuing (Tuesday, Dec. 2, from 10 a.m.-1 p.m., NYCE: 3BR, C1, C3, LA, LB, LSB, PA, PC). ^{^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.  

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PIANY-YIP to host casual networking event, Sept. 8

Ask anyone in the business: It’s not always what you know, but who you know. PIANY-YIP will host a casual evening of networking at Wolf’s 1-11 in Colonie, Monday, Sept. 8, at 5:30 p.m. Come with a readiness to meet someone new; if you bring your business card, you’ll automatically be entered in a prize raffle. Attendees are welcomed to take advantage of the establishment’s happy-hour specials from 4-8 p.m. Stay later to socialize and watch the Giants and Lions kick off the Monday Night Football season. There is no registration for this event. For more information, email edergurahian@pia.org.  

Have you had a security breach?

The New York State Information Security Breach and Notification Act requires businesses and state agencies to notify people if their private information has been acquired by an unauthorized party through a breach of security procedures protecting an electronic database. For more information on your responsibilities under this legislation, access QS31364 in PIA’s QuickSource library.  

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