HARTFORD, Conn.—The Professional Insurance Agents of Connecticut Inc. hosted its 29th annual Diamond Club Reception at the Officers' Club in Hartford, Conn. last week, where PIACT member agents, Gov. Dannel P. Malloy, Insurance Commissioner Thomas B. Leonardi, Connecticut General Assembly members and their staffers reviewed important insurance issues for the state of Connecticut.
More than 50 independent insurance agents and legislators, including Insurance Committee members and co-chair Robert W. Megna, attended the annual event. High on the agenda for many of PIACT members were issues that would assist the state's independent insurance agents–small businesses that are pillars of their communities, as well as protections for Connecticut's insurance-buying public.
First were concerns that affect agency business in the state, specifically the requirement that agencies must complete notarized affidavits when they must, following a diligent search, place a policy in the surplus-lines market. "The requirement of having to produce a notarized form every time a policy is renewed is out of step with normal insurance business practices, and it is a hurdle to providing our customers timely and responsive placement of coverage," said PIACT Legislative Chairperson Peter Frascarelli, CPIA. "We think this process should be modernized starting with replacing the form, which is currently an affidavit, with a certification–it achieves the same consumer protections without the procedural hassle of obtaining notarization."
Another business concern the association discussed with lawmakers was their hope of introducing legislation to prohibit agents or carriers from issuing inaccurate or misleading certificates of insurance, a practice often requested of agents by their customers, who are pressured by their own clients to produce inaccurate or misleading certificates.
"Professional insurance agents are diligent and responsible, and therefore they refuse to issue inaccurate certificates. However, they are put in the unfortunate position of being asked why they won't ‘help' clients out by providing that which they've been asked," said PIACT President James R. Berliner, CPCU. "These agents and/or agency staff are faced with choosing to issue an inaccurate certificate or losing an account–an unfair and impossible choice. We hope lawmakers will give teeth to the guidance the Insurance Department already has issued regarding this practice by backing it up with legislation."
The association also discussed its concern that as health benefit exchanges are developed in the state, the requirement that any person selling, soliciting, negotiating or advising be licensed accordingly. "We can't overemphasize the importance that consumers not be misled or receive inadequate guidance as we all deal with the new health-care insurance landscape" said Berliner.
PIACT members, legislators and the insurance commissioner discussed hurricane deductible triggers. The Insurance Department revisited the state's position on hurricane deductible triggers in the wake of last year's catastrophic storms. The association reiterated its backing of common-sense, realistic triggers. "We appreciate the department's newly-issued guidelines, and support their efforts regarding this important consumer issue."
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From left: PIACT Legislative Representative Gardner Wright, Gov. Dannel P. Malloy and Rep. Emil Altobello, |
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From left: PIACT President-elect and PIA National Director Timothy Russell, CPCU; PIACT Vice President Augusto Russell, CIC; Insurance Commissioner Thomas B. Leonardi; PIACT Treasurer and Legislative Committee Chair Peter Frascarelli, CPIA; and PIACT immediate past President Howard S. Olderman. |
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From left: PIACT Government Affairs Counsel Campbell H. Wallace, Esq., PIACT Legislative Representative Gardner Wright, Rep. Larry B. Butler, D-72, PIACT Vice President Augusto Russell, CIC, and Connecticut Insurance Commissioner Thomas B. Leonardi. |
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From left: PIACT Legislative Lobbyist Representative Gardner Wright, Sen. Andrew W. Roraback, R-30, and Rep. Richard Roy, D-119. |
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From left: Rep. Robert Megna, D-97, PIACT Legislative Representative Gardner Wright and Rep. Emil Altobello, D-82. |
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From left: Timothy Russell, Connecticut Insurance Commissioner Thomas B. Leonardi, PIACT Legislative Representative Gardner Wright and PIACT Treasurer and Legislative Chair Peter Frascarelli, CPIA. |
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From left: Rep. Laura Hoydick, R-120, and Rep. Lawrence G. Miller, R-122. |
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