PIANH launches two-minute survey with focus on health exchanges

To gauge the desires and concerns of its members, PIANH is introducing a simple monthly two-minute survey on hot topics in the insurance industry. Begin the survey simply by answering the multiple-choice question at the top right of the PIANH website, and instantly see what your peers think by clicking on "results" when you answer. This month’s question: Do you expect the implementation of health insurance exchanges to substantially alter the way health insurance is procured for your existing clients? Yes | No  

State accepts grant for health exchange

The New Hampshire Insurance Department issued an update on the status of federal grant funding for the state health insurance exchange. The NHID worked with the Centers for Medicare & Medicaid Services to arrange for the New Hampshire Health Plan to accept a $5.4 million federal grant and undertake the role of facilitating state-specific education and outreach about the exchange.  

Battle over health exchange navigators continues

Since the Patient Protection and Affordable Care Act passed, insurance agents and brokers worried that health insurance exchange navigators would cut into their business. Over the past three years, the groups have waged an intense but little-noticed lobbying effort to regulate navigators in the states, leading to the passage of 16 state laws over the past year and a half. Most of the laws contain language that closely resembles recommendations that agents and brokers have been pushing in statehouses nationwide—a push receiving crucial aid from a legislators’ group focused on insurance policy that is supported with industry funds. More… PIA National sent a letter to NHID Commissioner and Chair of the National Association of Insurance Commissioners’ Producer Licensing Task Force Roger Sevigny asserting that in order to sell, solicit or negotiate insurance, a producer license should continue to be required.   

Report analyzes state’s health insurance market

University of Massachusetts Medical School and Freedman HealthCare LLC analyzed the current health insurance payment system in New Hampshire and factors affecting premium rates and health care costs. The team gathered information through interviews with 26 health care industry stakeholders, including providers, carriers, and consumers. Additionally, the team received data from three large New Hampshire carriers regarding payment methods and plan design. The team supplemented the interviews with an analysis of the 2011 New Hampshire Comprehensive Health Care Information System, as well as other reports from NHID and nationally published literature on health industry topics.  More…

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President declares disaster for N.H.

The U.S. Department of Homeland Security's Federal Emergency Management Agency announced that federal disaster aid has been made available to New Hampshire to supplement state and local recovery efforts in the area affected by severe storms, flooding and landslides during the period of June 26 to July 3, 2013. The president's action makes federal funding available to state and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work and the repair or replacement of facilities damaged by severe storms, flooding and landslides in Cheshire, Grafton and Sullivan counties. Federal funding also is available on a cost-sharing basis for hazard mitigation measures statewide.  More…

New Hampshire WC loss costs/rates are proposed by NCCI to decrease

The National Council on Compensation Insurance recently submitted a workers’ compensation loss-cost and assigned-risk rate filing to the NHID. With an effective date of Jan. 1, 2014, for new and renewal voluntary and assigned-risk policies, this filing proposes an overall pure premium level decrease of 6.5 percent for the voluntary market. The filing also proposes an overall decrease in assigned-risk rates of 4.2 percent. The overall voluntary loss cost reduction breaks down as follows: -5.5 percent change in experience; -0.7 percent change in benefits; and -0.4 percent change in loss-based expenses. The residual-market reduction takes the voluntary loss-cost change of -6.5 percent and adjusts it with the assigned risk loss-cost multiplier change of +2.5 percent. The filing is pending review by the NHID.  

Register for PIANH’s Fall Education Festival, Oct. 8

PIANH will once again present its Fall Education Festival, Tuesday, Oct. 8, 2013, at the Marriott Courtyard, Concord. This is an exclusive opportunity for producers to earn CEUs and network with insurance industry professionals. Mishell K. Magnusson, CIC, CISR, CPIA, AAI, FIPC, will teach both Pitfalls of Commercial Lines Exposures (3 Gen Ins Prin PROD), and E&O for the Next Tech Generation^FF^UM (3 Gen Ins Prin PROD). For more information, or to register, click here.  

NOAA trims hurricane forecast, but still warns of active season

NOAA issued its updated Atlantic hurricane season outlook saying the season is shaping up to be above normal with the possibility that it could be very active. The season has already produced four named storms, with the peak of the season—mid-August through October—yet to come. The updated outlook is similar to the pre-season outlook issued in May, but with a reduced expectation for extreme levels of activity.  More…

FEMA: Flood mitigation assistance and pre-disaster mitigation grants open

FEMA announced that the application period for flood mitigation assistance and pre-disaster mitigation is open. FEMA also posted the Fiscal Year 2013 Hazard Mitigation Assistance Unified Guidance on its website.  

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FEMA clarifies ’grandfather’ rule under Oct. 1 changes

Recently, a number of questions have arisen concerning the effect the Oct. 1, 2013, National Flood Insurance Program changes will have on the current grandfather procedures used for rating new policies and assigned policies. While there are significant program changes resulting from passage of the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) regarding elimination of subsidies for some Pre-FIRM policies, these changes do not affect grandfather procedures except as noted in Bulletin W-13043. BW-12 does have provisions that will change the current grandfathered policy eligibility rules and the rates that will be charged. However, FEMA is not implementing those changes until later in 2014. Other bulletins. FEMA issued a number of other bulletins about the implementation of the Biggert-Waters Act including the following: October 2013 Revisions to the NFIP Flood Insurance Manual Bulletin W-13045; Supplemental Revisions to the October 1, 2013, Program Changes Bulletin W-13047; Sample Letters Related to Processing Renewals Under Biggert-Waters Act Bulletin W-13048; and Final Letter Related to Processing Renewals Under Biggert-Waters Act Bulletin W-13046.  

July ACORD forms update

In the latest ACORD forms update, the following countrywide forms are revised and now have a September 2013 edition date: 63 Fraud Statements; 75 Insurance Binder; 80 Homeowner Application; 81 Personal Inland Marine Application; 82 Watercraft Application; 83 Personal Umbrella Application; 84 Dwelling Fire Application; 85 Mobile Home Application; 88 Personal Insurance Application; 130 Workers’ Compensation Application; 149 Dealers Section; 193 Open Cargo Section; 210 Yacht Section; 283 Personal Umbrella Application Section; and 325 Aviation Insurance Application Applicant Information Section. Also revised are the Forms Instructions Guides for the 22 Intermodal Interchange Certificate of Insurance, 25 Certificate of Liability Insurance, 30 Certificate of Garage Insurance, 31 Certificate of Marine/Energy Insurance; and 126 Commercial General Liability Section form. These and other ACORD forms now are available directly under the ACORD Advantage Program. If you already are registered for the ACORD website, enter your username and password here.  

ISO files vehicle business interruption coverage options

The Insurance Services Office Inc. has made countrywide filings for new coverage options to address the business interruption exposures of vehicles and mobile equipment. Traditional business interruption coverage typically responds when loss or damage occurs at a specific location. Commercial policyholders have long been able to protect their revenue stream from adverse events that occur at their brick-and-mortar locations, as well as events that occur at the premises of suppliers and other dependent locations. ISO’s new coverage options will enable business interruption coverage to respond to the exposures presented by vehicles and mobile equipment while away from the policyholder’s location. The new options, along with associated advisory rating material, have a planned February 2014 effective date for commercial property, commercial auto and businessowners. For more information, click here.  

NYDFS superintendent sets bar date for Atlantic Mutual and Centennial Insurance Cos.

PIA received notification that the New York superintendent of insurance set a bar date of Sept. 30, 2013, for Atlantic Mutual Insurance Co. and Centennial Insurance Co. All policyholders and creditors seeking to recover losses related to the liquidation of Atlantic Mutual or Centennial Insurance Cos. have until Sept. 30, 2013, to file a claim. If you have questions about outstanding claims for Atlantic Mutual and Centennial, contact Jeanne Pannullo-Anderson at (212) 341-6857 or email jpannullo@nylb.org. For a copy of the order setting the bar date, click here.  

Study: Most consumers who go to direct writers return to independent agents

Most customers who are lured away from independent agents by direct insurers promising lower prices ultimately will return to an independent agent, according to a recent study commissioned by The Hanover Insurance Group. The study found that nearly 60 percent of consumers who had purchased insurance through a direct channel 10 or more years ago reported switching back to an independent agent because they wanted more value.   More…

Travelers discontinues WYO participation

Travelers issued letters to producers stating that it is discontinuing its participation as a Write Your Own (WYO) company in FEMA’s National Flood Insurance Program, selling its interest in the renewal rights to NFIP policies to American Bankers Insurance Co. of Florida, a subsidiary of Assurant Inc. Travelers will stop writing new NFIP policies Sept. 15, 2013, and will discontinue renewing policies by Oct. 15, 2013. ABIC will begin issuing renewal notices on Sept. 1, 2013, for policies with effective dates on or after Oct. 15, 2013.  

PIA tool kit offers traditional, new media strategies

PIA’s Agency Marketing Tool Kit—a free resource to help independent agencies use a variety of tools to reach current and prospective customers throughout the year. It includes consumer content in ready-to-use format, such as tweets, pre-formatted web articles and consumer fliers and provides a calendar to suggest when these tools can be used. Exclusive to PIA members, this benefit incorporates new media tools and emphasizes that traditional marketing tools still are effective at cutting through the clutter their clients deal with in the digital age. The site even includes a calendar that suggests the best times and ways to use some of the tools available in the kit and offers information to help agents explain to their customers the advantage of working with an independent agent. It also explains the importance of direct-marketing, email and website campaigns; as well as discussing how agents can create public relations, customer relations and social-media strategies for retention and lead generation.  

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Ask PIA: Fiduciary obligations

Q. What are New Hampshire's rules concerning the establishment of a premium trust account? A. The answer can be found in New Hampshire's Rules Part Ins 1303, which pertain to the fiduciary obligations of agents and brokers, including the rules for trust accounts. In particular, every insurance producer who expects to receive premiums or return premiums on New Hampshire business is required to establish a premium trust account. For a comprehensive answer to this question, click here. To access our entire Ask PIA library of frequently asked questions and expert answers by PIANH’s technical staff, click here.  

Branding with co-op advertising

In today’s competitive marketplace, agents need to keep ahead of the competition with their marketing efforts. Co-op advertising is one way agents can partner with their carriers for co-op advertising dollars to place ads in their local media to increase the visibility of both the insurance agent and the carrier. PIA offers a step-by-step guide on how co-op advertising works and how you can implement these ideas within your agency (QuickSource document No. QS90569—How to find co-op advertising dollars). This, along with other tools such as the ads available through PIA National’s "Local Agents Serving Main Street America" Branding Program, you have the tools you need to compete in today’s marketplace. To access QS90569, log on to the PIANH website and type QS90569 in the Google-facilitated search box or fax a request to PIA’s Industry Resource Center at (888) 225-6935.  

Webinar: The Latest in E&O (and What Can Be Done About It)

Every year, the agent’s errors-and-omissions landscape seems to take some new twists. The Latest in E&O (and What Can Be Done About It)^FF^UM, Tuesday, Aug. 20, 2013, will review what has changed over the years. Included will be extensive discussion on the major E&O issues that agents face and the new plaintiffs that are bringing litigation against today’s agent. A series of best practices will be provided to help agents face these various challenges. Throughout the Webinar, actual E&O cases will be used to enhance the understanding of the material. The new three-hour format, allows participants to receive their E&O loss-prevention and CE credit in one session. Earn NHCE: 3 GEN. ^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 at (800) 424-4244 for details. For more information, or to register, click here.  

New Hampshire policyholder protections

Do you have questions regarding personal and/or commercial policies relating to cancellation or nonrenewal of insurance policies? Well, if you do, PIANH has your answers. Most of these answers are found in Section 417A-C of the New Hampshire Insurance Law. PIANH’s technical staff has taken this legal jargon, plus some related provisions and interpretations that provide additional protections to policyholders and compiled them into QuickSource document No. QS28029. This resource kit, broken down by auto, homeowners/personal property and commercial liability, gives you answers to some of the commonly asked questions received through PIA’s Industry Resource Center relating to notice time frames, reasons for cancellation/nonrenewal and penalties for noncompliance with these rules. To request yours, log on to the PIANH website and type QS28029 in the Google-facilitated search box or fax a request to PIANH’s Industry Resource Center at (888) 225-6935.   

In case of emergency: PIA accepting member emergency contact numbers

Sandy caused widespread power outages for several PIA members, leaving them only cell phones and mobile devices for communication over a prolonged period of time. While we hope this need never happens again, your association now is accepting emergency cell phone numbers with the sole purpose of reaching your agency to offer PIA services in the event such an outage takes place. This information will be kept private and is to be used only if we are unable to reach you in such an event. If you would like PIA to have the emergency contact number for a single agency principal or designee at your agency, please click here.  

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