To view in your web browser or for a printable version: http://www.pia.org/COMM/email/weekly/20141217NH/weekly.html

  Dec. 17, 2014


Click for more information.

TRIA likely to expire at end of year

The U.S. Senate adjourned last night without reauthorizing the Terrorism Risk Insurance Act. This leaves the fate of the program in serious jeopardy as TRIA is set to expire on Dec. 31. Despite passage in the House, the Senate has struggled to find a way to move forward due to unrelated items in the bill. Most notable was the objection of retiring Sen. Tom Coburn, R-Okla. over the inclusion of NARAB II. Sen. Coburn is a long-time opponent of NARAB II and put a hold on the bill, which prevented a quick vote on the measure. PIA is shocked and dismayed that Congress would adjourn without doing its job by passing a long-term renewal of TRIA, especially at a time of increasing terrorist threats. More … PIANH has compiled a list of recent actions related to TRIA’s pending renewal. More …  

For PIA members: New term life/AD&D and LTD employee benefits

PIANH announces a new program, underwritten by Reliance Standard Life Insurance Co., which features comprehensive packages and competitive rates, flexible plan benefit options and life benefits up to $250,000 without medical underwriting. The flexible accidental death & dismemberment and long-term disability plans are an excellent way to offer valuable income protection to your employees, at an affordable cost. For more information, contact PIA Member Services at (800) 424-4244 or memberservices@pia.org. Current PIA life/LTD insureds: We are pleased to offer you and your active employees a 90-day open enrollment period beginning Jan. 1, 2015. Call PIA now to make changes to your plan.  

PIANH testifies on JUA

The New Hampshire Insurance Department held a hearing to address the future of the New Hampshire Medical Malpractice Joint Underwriting Association on Dec. 4. PIANH, joined by representatives of the medical and insurance community, was asked to present testimony on whether the JUA still is necessary to the medical malpractice marketplace in the state. PIANH testified it believes that while the medical malpractice marketplace has improved since the creation of the JUA in 1976, the program still is a necessary participant in the medical malpractice market for a variety of reasons. However, PIANH did advocate for modifications to the existing JUA model to better reflect its role as a residual market. More …  

NHID reminds that rental car companies require primary coverage

The NHID issued an Informational Letter after it came to its attention that some motor-vehicle liability policies issued to automobile rental companies contain language that makes coverage for owned rental vehicles excess under certain circumstances. New Hampshire law mandates that all motor-vehicle liability policies provide primary liability coverage to both the named insured and any permissive user for all owned vehicles that are covered by the policy.  

New Hampshire ranking decreases among countrywide WC rates in Oregon study

The Oregon Department of Consumer and Business Services has released its 2014 Oregon Workers’ Compensation Premium Rate Ranking Summary. New Hampshire dropped its ranking to 12th highest in the country for workers’ compensation rates at 118 percent of the median value. The 2012 summary placed New Hampshire at 9th highest.  


Click for more information.

FEMA releases NFIP bulletins

Bulletin W-14059 clarifies landlord and tenant coverage for improvements and betterments under the Standard Flood Insurance Policy. The SFIP defines improvements as fixtures, alterations, installations or additions comprising a part of the insured dwelling or the apartment in which the policyholder resides. Bulletin W-14060 provides additional guidance and clarifications to underwriting procedures for a transfer of business, when producers move any or all of their existing book(s) of business from one insurer to another. The new insurer must collect all underwriting information required at the time of the transfer in order to verify the correct rating and issuance of the policy. Bulletin W-14061 announces that the Standard Flood Hazard Determination Form renewal was published in the Federal Register on Dec. 11, 2014. Comments on the form will be accepted through Feb. 9, 2015.  

FEMA to consider NFIP reforms

After months of pressure from lawmakers and those affected by Superstorm Sandy, the Federal Emergency Management Agency is considering reforming parts of the National Flood Insurance Program. The changes would make the flood insurance process more transparent; increase oversight and accountability; and balance the scales more in favor of policyholders. More …  

ISO files drone coverage options

The Insurance Services Office Inc. is preparing insurers for the rise of commercial drones around the world by offering new and versatile coverage options. The new endorsements address the growing liability exposures of commercial drones, which already have developed a wide range of potential and reported uses, including package delivery, crop protection and aerial photography. The options modify coverage under ISO’s Commercial General Liability and Commercial Liability Umbrella/Excess programs and were recently developed and filed on a multistate basis for a June 2015 implementation. More …  

ISO creates Ebola coverage options

The Insurance Services Office Inc. announced it has developed two new coverage options to help businesses when government authorities take steps to control the spread of Ebola. The first endorsement offers coverage for the loss of income a business faces when it follows orders to close during an Ebola outbreak. The second endorsement responds if the government suspends public bus, rail or ferry lines. Both options are designed to complement ISO’s commercial property program and are subject to an annual aggregate. They also can provide coverage when an order to close disrupts a company’s supply chain.  

FMCSA proposes increasing required limits

The Federal Motor Carrier Safety Administration has posted an Advanced Notice of Proposed Rulemaking for the increase in minimum levels of financial responsibility for motor carriers, including liability coverage for bodily injury or property damage; establish financial responsibility requirements for passenger carrier brokers; implement financial responsibility requirements for brokers and freight forwarders; and revise existing rules concerning self-insurance and trip insurance. The comment period ends Feb. 26, 2015.  

ACORD CEO announces retirement

ACORD President and CEO Gregory Maciag announced his plan to retire on Jan. 15, 2016. The ACORD board of directors has accepted the plan, and Maciag will serve as an adviser for an additional year, until Jan. 15, 2017, marking 40 years with the organization. More … Look for Maciag’s contribution to the roundtable article in the December issue of PIA magazine.  


Click for more information.

PIA’s Storm Info Central helps you through the winter weather

Throughout this winter’s storms, PIA is with you. PIA’s Storm Info Central offers you one spot for all your winter storm-related resource needs—from the latest updates to QuickSource documents. If there is something you are looking for that you do not see here, contact PIA’s Industry Resource Center at resourcecenter@pia.org or use the Ask PIA button on the PIA website and we will address your specific question.  

Ask PIA: Discontinued operations—gone out of business

Q. When contractors go out of business, we always recommend they buy "discontinued operations liability coverage"( i.e., for products completed operations exposures going forward). My question is, if a contractor is incorporated and dissolves the corporation, how free from liability is he? Can't he still be sued, say, if a deck he built collapses and hurts someone? If the corporation is dissolved, can't the individual officers of the old corporation still be sued? Should we still quote coverage for this potential liability? A. The only way the officers can be held individually responsible would be if the corporate veil were to be pierced; that is, to circumvent the limited liability of the owners and to hold them liable for some underlying corporate obligation. 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.  

Workers’ compensation for contractors

Do you need workers’ compensation for your contractor insureds? Think PIA first. PIA’s NumberONE Comp Program—an exclusive PIANH member benefit—offers workers’ compensation coverage for many contractor classes of business based on underwriting guidelines. Our simplified submission process makes it easy for you to earn commission while placing your insureds with trusted carriers. For more information, call (800) 424-4244, ext. 850.  

Upcoming PIANH Webinars

PIANH will offer the following Webinars in the next few months: Coverage Abbreviations: OCP, K&R, COP/MOP, OCIP/CCIP, KMI (Tuesday, Jan. 6, from 10 a.m.-1 p.m., NHCEU: 3 GEN PRO); Key E&O Issues that Every Agent Should be Thinking About^FF^UM (Tuesday, Jan. 20, from 10 a.m.-1 p.m., NHCEU: 3 GEN PRO); Cyber Liability—Why the Need? (Friday, Jan. 30, from 10-11 a.m., NHCEU: 1 GEN INS PRIN); When a Carrier Goes into Liquidation (An Informational Webinar) (Thursday, Feb. 19, from 10-11:15 a.m., NHCEU: 1 GEN PRO); Real Life Commercial Lines Claims (Tuesday, Feb. 24, from 10 a.m.-1 p.m., NHCEU: 3 GEN PRO); Legal and Ethical Responsibilities (2015) (Tuesday, March 3, from 10 a.m.-1 p.m., NHCEU: 3 ETHICS PRO); and Key E&O Issues that Every Agent Should be Thinking About^FF^UM(Tuesday, April 28, from 10 a.m.-1 p.m., NHCEU: 3 GEN PRO). ^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.  

Six steps to true carrier partnerships

The agency/carrier relationship is one of, if not the most, important aspects of an agency’s business development and livelihood. Many times, the day-to-day operations are what take up an agency owner’s time and efforts; however, building on this appointment and turning it into a true partnership is a vital part of any agency’s future. For six steps that will assist you in converting these appointments to true partnerships, access QS90446 in PIA’s QuickSource library.  

In memoriam: Don Malecki, insurance expert

PIA joins many others in the insurance industry in mourning the passing of Donald S. Malecki, who passed away on Dec. 12, 2014, at age 81. Malecki was a notable insurance expert with 50 years of experience in the risk management and insurance industry. In April, he had written graciously and eloquently about the illness that would claim his life.  

This email message, including any attachments, is for the sole use of the intended recipient(s) and may contain confidential and privileged information. Any unauthorized review, use, disclosure or distribution is prohibited. If you are not the intended recipient, please contact the sender by reply email and destroy all copies of the original message. If you prefer not to receive ANY email communication from PIA click here.