Coming up: Fall CE Fest, Oct. 8

PIACT’s fourth-annual Fall CE Fest Wednesday, Oct. 8, 2014, 9 a.m.-4:30 p.m., at the Crowne Plaza, Cromwell, brings something for everyone. Earn seven continuing-education credits and catch up on what’s hot in the insurance industry. Mishell K. Magnusson, CIC, CISR, CPIA, AAI, FIPC, brings her expertise to the table for two dynamic education sessions: Commercial Lines Property Exposure Pitfalls (NHCEU: 4 PC) and Commercial Casualty Exposure Pitfalls (NHCEU: 3 PC). For more information, or to register, click here.  

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PIACT’s Russell elected secretary/assistant treasurer for PIA National

PIACT congratulates past President Timothy G. Russell, CPCU, of The Russell Agency, Southport, on his installation as secretary and assistant treasurer for PIA National. The official promotion took place during the 2014 PIA National Fall Governance Meetings & Annual Meeting, Sept. 18-21, in San Antonio, Texas. PHOTO: Russell (second from left) is installed as PIA National’s secretary and assistant treasurer.  

Warwick Resource Group wins PIA National social media award

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 …  

HealthCare.gov given overhaul

Federal health officials said Monday that the Obama administration plans to redesign the HealthCare.gov website, and that 70 percent of consumers will be able to use a shorter, simpler online application to purchase health insurance. The second-annual open enrollment period begins in mid-November. 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 QS06065 in the PIA QuickSource library.  

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Ask PIA: Advancing premium

Q. I did a friend a favor by advancing the annual renewal premium on his homeowners policy. It’s been two months. He hasn’t repaid me and he isn’t returning my phone calls. Can I request cancellation and get the unearned premium back? A. No. The company cannot honor this request for a personal-lines policy. However, producers can request cancellation on a commercial-lines policy if they follow certain procedures, including advanced notice to the policyholder. Using the correct procedure, the producer is entitled to the unearned premium. However, this procedure cannot be used to recover a personal-lines premium that a producer has advanced. See C.G.S. 38a-716. For a more 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.  

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 …  

PIACT offers Webinar on agency appraisals

Agency managers: Annual review time is just around the corner, and compensation is the single biggest expense in an agency. Do you have competent staff and appropriate job descriptions? When it comes time to evaluate your staff's performance, is it something you enjoy or something you dread? Do you know how to seek good CSR candidates to hire? PIACT will hold Agency Staffing, Performance and Job Evaluations on Thursday, Oct. 2, from 10 a.m.-1 p.m. Led by Jonathan Persky, CPA, CIC, PHR, this course is not applicable for continuing-education credit. To register, click here.Can't make the live Webinar? No problem! Sign up and RSVP anyway and you will automatically get the replay.  

Additional upcoming PIACT Webinars

In addition to the Webinar on agency staffing, PIACT will offer the following Webinars in the next few months: E&O Hotspots … 2014 and Beyond^{^FF^UM} (Thursday, Oct. 16, from 10 a.m.-1 p.m., CTCE: 3 PC); Top Ten Personal Lines Endorsements (Tuesday, Oct. 21, from 10-11 a.m., CTCE: 1 PC); Ethics—Something Worth Pursuing (Tuesday, Dec. 2, from 10 a.m.-1 p.m., CTCE: 3 LRE); and Top Ten Commercial Lines Endorsements (Wednesday, Dec. 10, from 10-11 a.m., CTCE: 1 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.  

Drive-other-car coverage: A review

Coverage needs of a business auto policyholder sometimes require that certain BAP endorsements be used to extend protection for the personal exposures of principals and employees of the business, or their family members. For a review of the drive-other-car exposure, access QS90087 in PIA’s QuickSource library.  

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