CID releases tax notice for surplus-lines licensees

The Connecticut Insurance Department reminds surplus-lines licensees that a quarterly premium tax return is due on or before Nov. 15, 2014. Tax returns (SL-9) and written statements (SL-8) are to be filed at OPTins.org. More …  

Survey: Most independent agents expect continued growth

According to a recent survey by Aite and commissioned 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.  

Superstorm Sandy after two years

This week marks the second anniversary of Superstorm Sandy. According to Fairfield First Selectman Mike Tetreau, 70 residents applied for Federal Emergency Management Agency grants a year ago, and the first few are being approved now. More … FEMA 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 PIACT 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. CTCE: TBA. For more information or to register, click here.  

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

PIACT 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 …  

Ask PIA: Deceased producer—commissions

Q. I own an agency, and one of our producers recently passed away. This producer is owed commission payments. What do we do with these payments? Can we pay them to the next of kin? A. Under Connecticut Statutes Section 38a-702l, a person may not receive commissions flowing from the sale, solicitation or negotiation of insurance without holding a valid insurance license. Connecticut Statutes Section 38a-702j states that the commissioner may issue a temporary license (not to exceed 180 days) to individuals including a surviving spouse or court-appointed personal representative of a licensed insurance producer who dies or becomes mentally or physically disabled. The provision of this temporary license is intended to allow for the sale of the insurance business owned by the producer or for the recovery or return of the producer to the business or to provide for the training and licensing of new personnel to operate the producer's business. This temporary license also may be granted to a member or employee of a business entity licensed as an insurance producer, upon the death or disability of an individual designated in the business-entity application or the license, the designee of a licensed insurance producer entering active service in the armed forces of the United States. Finally, the commissioner may issue a temporary license in any other circumstance in which the commissioner deems that the public interest will best be served by the issuance of the license. 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.   

Winter personal-lines newsletters are available for your clients

Now is the time to order your winter issue of Insights and Updates to send to your clients. This newsletter is perfect for your personal-lines clients and features the following topics: the risks of ride sharing; how to prevent ice dams; heating your home with a fireplace vs. traditional gas; the liability of sledding on private property; and travel during the busy holiday traffic. This newsletter, in which you also can include your agency’s privacy notice, can be personalized and sent through PIA Creative Services. For more information, contact dcramer@pia.org or call (800) 424-4244.  

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

PIACT will hold Advanced Personal Lines Risk Analysis for E&O Loss Prevention^{^FF^UM} Wednesday, Nov. 12, 2014, from 8:30 a.m.-4 p.m., at MiddleOak, Middletown. 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. CTCE: 7 PC. 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.  

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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 Connecticut. 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.  

PIACT’s QuickSource document—resources at your fingertips

PIACT 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.  

Upcoming PIACT Webinars

PIACT will offer the following Webinars in the next few months: Are You Linked In? What it Can Do for You and Your Agency (Friday, Nov. 14, from 10-11 a.m., CTCE: N/A); Exploring the Personal Umbrella/Excess Policy (Friday, Nov. 21, from 10 a.m.-1 p.m., CTCE: 3 PC); Ethics—Something Worth Pursuing (Tuesday, Dec. 2, from 10 a.m.-1 p.m., CTCE: 3 LRE); The National Flood Insurance Program Revised and Updated (Tuesday, Dec. 9, from 10 a.m.-noon, CTCE: TBA); Top Ten Commercial Lines Endorsements (Wednesday, Dec. 10, from 10-11 a.m., CTCE: 1 PC); Coverage Abbreviations: OCP, K&R, COP/MOP, OCIP/CCIP, KMI (Tuesday, Jan. 6, from 10 a.m.-1 p.m., CTCE: 1 LH, 2 PC); Key E&O Issues that Every Agent Should be Thinking About^{^FF^UM} (Tuesday, Jan. 20, from 10 a.m.-1 p.m., CTCE: 3 PC); Cyber Liability—Why the Need? (Friday, Jan. 30, from 10-11 a.m., CTCE: PC 1); and Key E&O Issues that Every Agent Should be Thinking About^{^FF^UM} (Tuesday, April 28, from 10 a.m.-1 p.m., CTCE: 3 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.  

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

PIA National will send an email to PIACT 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.  

Collision insurance cost information

The National Highway Traffic Safety Administration has released its Relative Collision Cost Information Booklet, which provides information to consumers considering the purchase of new vehicles. The booklet compares differences in insurance costs for different makes and models of passenger cars, utility vehicles, light trucks and vans on the basis of damage susceptibility for the vehicle. For a copy, access QS90555 in PIA’s QuickSource library.  

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