State Legislature addresses ride sharing

The state Assembly recently introduced A-3586, ride-sharing legislation sponsored by Assemblyman Troy Singleton, D-7. The directs the New Jersey Motor Vehicle Commission, in consultation with the Division of State Police in the Department of Law and Public Safety and the Department of Banking and Insurance, to promulgate rules and regulations concerning safety and insurance requirements for ride-sharing services (e.g., Uber and Lyft). The bill prohibits ride-sharing services from operating in the state until after the commission has issued the company a permit to operate. More … Two-minute survey. PIA is asking members how they feel about ride sharing. Voice your opinion on September’s two-minute survey, on the PIANJ website on the right-hand side of the screen. You will be asked five questions about this growing issue.   

PIANJ meets with Sen. Ruiz on certificates and other issues

Esther Tanez, CPIA, a PIANJ board member and chair of the PIANJ Legislative and Regulatory Committee, left, and PIANJ Legislative Representative Leon Zimmerman, right, met Sept. 22 in the State Senate chamber gallery with New Jersey State Sen. M. Teresa Ruiz, D-29, to discuss certificates of insurance legislation and other important insurance issues. Ruiz represents all of Newark’s East Ward and parts of the Central, North, South and West Wards. She chairs the Senate Education Committee and is a member of the Senate Budget and Appropriations Committee and the Legislative Oversight Committee. Tanez’s agency, E.S.T.I.R. Insurance, is located in Newark.   

U.S. House passes insurance capital bill

As PIANJ reported last week, the U.S. House of Representatives voted on legislation to amend the 2010 Dodd-Frank law to provide the U.S. Federal Reserve with greater flexibility in setting new capital rules for insurance companies. This legislation passed by a 327-97 vote on Sept. 16. More … What this means for agents: This change would grant the Federal Reserve flexibility in the treatment of insurance companies under the Dodd-Frank Act. More …   

FEMA extends limited waiver of the Single Adjuster Program

In Bulletin W-14051, the Federal Emergency Management Agency reiterates earlier guidance to WYO Principal Coordinators and the National Flood Insurance Program Direct Servicing Agent with regard to a limited waiver of the Single Adjuster Program, which was given in Bulletin W-12050. During this limited waiver period, FEMA no longer required or authorized one adjuster to concurrently adjust both wind and NFIP flood losses. The original waiver announced in Bulletin W-13040 was in effect for one year, beginning Aug. 13, 2012, and was extended through Dec. 31, 2014. The purpose of this bulletin is to extend this limited waiver for an additional time period beginning on Jan. 1, 2015, and ending on Dec. 31, 2015.   

HealthCare.gov to be overhauled

Federal health officials announced Monday that the HealthCare.gov website will be overhauled to allow 70 percent of consumers to use a simpler, online form to buy health insurance. This change goes into effect when the second annual open enrollment period begins in mid-November. More …   

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Warwick Resource Group wins social media award for PIA National

PIA member Warwick Resource Group was awarded the Excellence in Social Media Award at PIA National’s Fall Governance Meetings in San Antonio, Texas, Sept. 19. The annual PIA National Excellence in Social Media Award, inaugurated in 2010, is given to honor a PIA-member insurance agency for excellence in the use of social media in a business setting. CAPTION: (LEFT to RIGHT) Keith A. Savino, CPIA, and Richard A. Savino, CIC, CPIA, with Warwick’s award. More …   

Sending out privacy notices? Think PIA first

Under the Gramm-Leach-Bliley Act, professional, independent insurance agents are required to develop and distribute privacy policies to their clients each year. PIA Creative Services makes complying with this requirement easy. Through PIA Creative Services you can send personal- and commercial-lines newsletters that can be mailed to your clients. This is a perfect way to get your privacy notice to your insureds. Contact Mike Lee at mlee@pia.org or call (800) 424-4244 for more information. For more information on privacy policies, access QS29123 in the PIA QuickSource library.   

Ask PIA: New DWI—notification to department

Q. One of my producers was arrested for a DWI. How soon must the producer notify the DOBI of the arrest? A. The producer does not have to notify the department upon arrest. However, N.J.S.A. 17:22-A-47 requires all producers to notify the commissioner of any criminal prosecution taken in any jurisdiction within 30 days of the initial pre-trial hearing date. For a comprehensive answer to this question, click here. To access our entire Ask PIA library offrequently asked questions and expert answers by PIA’s technical staff, click here.   

PIA’s Market Transition Tool Kit

PIA offers information to help educate your clients and agency staff on the changing market. Through PIA’s Market Transition Tool Kit, association members have access to: information on market cycles (definitions of hard and soft markets, etc.); latest market news (industry information and survey results assessing the changing market); markets/expert information to assist clients; customer-education resources (e.g., sample letters and articles); policyholder protection laws/regulations; and surplus-lines market rules.   

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A.M. Best upgrades Tower

A.M. Best has upgraded the financial strength rating to "B-" (Fair) from "C" (Weak) and the issuer credit ratings to "bb-" from "ccc" of the former members of the Tower U.S. Pool and CastlePoint Reinsurance Co. Ltd. Additionally, A.M. Best has revised the implications on the under-review status for these ratings to positive from developing. Finally, A.M. Best has withdrawn the ICR of "c" of the intermediate holding company, Tower Group Inc. It also has withdrawn the ICR of "c" of the ultimate holding company, Tower Group International Ltd. More …   

Fireman’s Fund commercial-lines business to become part of Allianz

The Fireman’s Fund commercial property/casualty business will be integrated into Allianz Global Corporate & Specialty, the global corporate insurance company of Allianz. The integration further strengthens the Allianz brand in its U.S. commercial P&C business. More …   

Upcoming PIANJ Webinars

Join PIANJ for the following Webinars: NJ PAIP/CAIP Producer Procedures. This two-part Webinar satisfies certification requirements. Part one concentrates on the necessary information in order to provide CAIP certification to CAIP producers in New Jersey. Part two concentrates on the rules and rates information necessary for producer certification for the Personal Automobile Insurance Plan. The course will be held Tuesday, Sept. 30, 2014, and Wednesday, Oct. 1, 2014, from 10 a.m.-noon. Earn NJCE: 2 GEN for each part (4 CE total). For more information, or to register, click here. Agency Staffing, Performance and Job Evaluations Agency Staff Job Performance Evaluations—Are you doing it right? This Webinar is designed for agency owners and managers with supervisory responsibilities and will address the following issues: the characteristics of good managers and how to seek good CSR candidates to hire, the need for accurate, detailed job descriptions and how to tailor the performance evaluation process to specific positions. The course will be held Thursday, Oct. 2, 2014, from 10-11 a.m. For more information, or to register, click here.   

2014 CISR 2 IC: Commercial Casualty II—BAP, WC, Excess

This course, like Commercial Casualty I, strengthens an insurance producer’s ability to have productive, assured interactions with his or her commercial customers in the area of commercial casualty exposures and coverages. In this course the focus is the business auto policy, the workers’ compensation policy and excess liability policies. Topics will include the following: business auto exposures and coverages, workers’ compensation and employers’ liability insurance policy and commercial umbrella and excess liability policies. The course will be held Thursday, Oct. 2, 2014, from 8 a.m.-3:45 p.m., exam at 4:15 p.m. (Exam is optional. Required only for those pursuing the CISR designation.) Earn NJCE: 7 GEN. CISR DESIGNEES: NJDOBI will award 12 CE credits for each full year of the license term that the designation is maintained in good standing. For more information or to register, click here.   

ICNJ’s 37^th Annual Meeting & Conference, Oct. 17

The Insurance Council of New Jersey’s 37^th Annual Meeting & Conference will be held Friday, Oct. 17, 2014, at The Hamilton Manor, Hamilton, from 8:30 a.m.-12:30 p.m. The scheduled sessions include: Autonomous Vehicle Technology and the Insurance Industry and What’s Hot in the Courts. The event also will feature a panel discussion: Transportation Network Companies: How are New Jersey Drivers Protected When Providing Ride Services? For more information, or to register, click here.   

N.J. producer contracts

The employment relationship between agencies and their producers has changed considerably over the past few decades. The one-agency career is gone; producers are now far more mobile. Their business relationships with clients also are more transportable. For these reasons, the need to document the arrangement between an agency and its producer in a written agreement is vital. To learn what should be contained within these types of agreements as well as sample verbiage to assist you in drafting your agency-specific contract access QS29189 in the PIA QuickSource library.   

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