Superstorm Sandy after two years

This week marks the second anniversary of Superstorm Sandy. The Federal Emergency Management Agency recently issued a press release to announce that, to date, the agency has provided $6.67 billion to New Jersey for its recovery. FEMA also reminded policyholders affected by the storm that the deadline for filing a proof-of-loss claim is Wednesday, Oct. 29, 2014. To reread accounts of how some PIA members reacted to the storm, click here.   

Confused about all the FEMA updates?

Don’t miss The National Flood Insurance Program Revised and Updated, a PIANJ Webinar led by Rita Hollada, CIC, CPCU, CPIA, Tuesday, Dec. 9, 2014, from 10 a.m.-noon. This Webinar will discuss the provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 and the Homeowners Flood Insurance Affordability Act of 2014, including what has been delayed and what has been reversed. Additionally, Hollada will review the flood manual changes that continue to bring the NFIP in compliance with the mandates of these two laws affecting flood insurance availability and pricing. She also will discuss the changes effective Oct. 1, 2014, and April 1, 2015. NJCE: TBA. For more information or to register, click here.   

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

PIANJ 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 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 connected 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 …   

PIANJ Women’s Business Forum to discuss women and wealth

Professional, independent insurance women can join Wendy Murphy, CFP, as she leads a discussion on Women and Wealth: Financial Planning Strategies (across a lifetime) for Women during the PIANJ Women’s Business Forum, Wednesday, Nov. 12, 2014, from noon-3 p.m., at the Forsgate Country Club, Monroe Township. During the event, participants will learn actionable strategies for cash management, savings, asset allocation, diversification and portfolio balancing. In addition, financial specifics to learn and keep in mind throughout the various stages of women’s lives will be highlighted. For more information, or to register, click here.   

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Survey: Most independent agents expect continued growth

According to a recent survey by Vertafore, 70 percent of large agencies are "very optimistic" about future growth, compared to only 25 percent of small agencies. Primary contributors included increasing commoditization and reliance on personal lines, such as auto insurance and limited technology adoption among smaller agencies. To read more on the survey, click here.   

Contractor lending money for purchase of WC coverage

Q. A contractor client who works with a number of subcontractors is encouraging these subcontractors to carry their own workers’ compensation insurance. Because of the cost involved, many cannot purchase the coverage up front. The contractor has offered to loan the subcontractors the money for the policies, to be repaid later. Is this OK? A. It depends on the circumstances. For a 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.   

PIANJ CE course: Personal lines and E&O, Nov. 11

PIANJ will hold Advanced Personal Lines Risk Analysis for E&O Loss Prevention^{^FF^UM} Tuesday, Nov. 11, 2014, from 8:30 a.m.-4 p.m., at ADP/Statewide Insurance Agency, in Florham Park. Taught by Mishell K. Magnusson, CIC, CISR, CPIA, AAI, FIPC, this course can be attended by insurance producers who need to maintain their CPIA designations, but anyone interested in learning more about a customer service representative’s legal responsibility to apply effective loss-prevention techniques that will benefit personal-lines insureds and how using a personal-lines questionnaire for exposure identification can improve customer service and limit E&O exposures also should attend the course. NJCE: 2 ETH, 5 GEN. To register for this course, click here. ^{^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: (800) 424-4244.   

Get violation activity at a fraction of the cost of an MVR

DocIT^TM, a web-based pre-screening tool from Drivers History, is offered in New Jersey. This innovative service—available only to PIA members—connects to local court records, giving you 24/7 access to real-time violation data. DocIT will help you lower MVR expenses, pre-qualify applicants, improve loss ratios, grow your business and enable you to place your clients with the right carrier on the first try, for as low as 75 cents per transaction. Only order expensive MVRs once ... when the policy has been sold. Use at point of quote, use in new business underwriting, policy renewal evaluation ... and more. There’s nothing else like it—try it today.   

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PIANJ’s QuickSource document—resources at your fingertips

PIANJ continually revises its QuickSource document index to reflect numerous additions and updates. Document topics range from technology, agency management issues and company updates to coverage and workers’ compensation issues. The best part—if you previously requested a document and we update it, you will receive an email to make you aware of the update, so keep PIA informed about any changes you make to your email address. To access the most recent QuickSource document index, click here.   

Check your email on Oct. 30, take part in national survey

PIA National will send an email to PIANJ members on Thursday, Oct. 30, 2014, to gather limited demographic data and to determine the issues that are important to PIA members across the country. The nine-question survey will ask you where your agency is domiciled; where you are licensed; number of employees, premium volume; composite of book of business; the legislative and regulatory issues you consider important; how well PIA represents you; and how different issues affect your agency’s operations. Those who complete the survey can enter to win a Kindle Fire HD 7 Tablet.   

Looking for a premium-finance company?

For a list of insurance premium-finance companies that offer services in New Jersey, New York, Connecticut or New Hampshire, access QS90674 in the PIA QuickSource library. Support the companies that support your association—PIA associate members are indicated with a PIA logo. To access the PIANJ associate member directory for other services, click here.   

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