PIANH wins membership award

In recognition of its efforts in increasing membership, PIANH Executive Director Kelly K. Norris, CAE, proudly presented the PIANH board of directors with the PIA National Membership award. The award is bestowed on PIA-member associations that have demonstrated an outstanding dedication to membership through increasing membership by at least 10 percent. For more on the PIANH board of directors meeting, see the next edition of the Reporter. PHOTO: PIANH Executive Director Kelly K. Norris, CAE, presents PIANH National Director Donald H. Flanders, CIC, CPCU, with the PIA National Membership award.  

During the winter storm season, use PIA’s Storm Info Central

The relatively quiet Atlantic hurricane season officially ended Nov. 30, and PIANH reminds its members that winter is coming. 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.  

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NCCI releases third-quarter residual market report

The National Council on Compensation Insurance Third Quarter New Hampshire Residual Market Performance Report shows that policy count in the plan is up 6 percent and premium is up 9 percent, with a market share of 9.6 percent. Meanwhile, the average policy size is down 12 percent and policies with $100K+ premium are down 6 percent.   

Push to extend TRIA as deadline looms

As the Terrorism Risk Insurance Act’s expiration nears, your association has created one place for all related news and information. PIANH supports the reauthorization of TRIA, set to expire at the end of this month. If renewed, TRIA would be in place for seven years, until Dec. 31, 2021. To read the association’s official position, click here. To read the latest news on TRIA, click here.  

November ACORD forms update

In the latest ACORD forms update, countrywide form 821 (2014/12) Producer Information Form is revised with an effective date of Dec. 1, 2014. This form should be used going forward in lieu of the following withdrawn forms: 817 (2010/08) P&C Producer Appointment Form Appointment Section; 818 (2007/08) P&C Producer Appointment Form Background Questions; and 819 (2010/08) P&C Producer Appointment Form Additional Appointment or Termination. These and other ACORD forms are now directly available under the ACORD Advantage Program. If you already are registered for the ACORD website, enter your username and password here.  

DOL clarifies: Employers cannot reimburse employees who participate in health exchanges

Earlier this month, the U.S. Department of Labor issued FAQ Part XX11 on the implementation of the Patient Protection and Affordable Care Act. The FAQ clarifies that employers cannot reimburse employees who participate in a health exchange. What this means for agents: If you are thinking of complying with the PPACA requirements by engaging in this practice, the DOL is aware of this tactic and has given it careful scrutiny.  

FEMA to appeal judge’s order on Sandy claims

As PIA reported last week, recently there has been a call to address potential widespread manipulation of flood insurance claims of Sandy victims. Last week, the Federal Emergency Management Agency is appealing Magistrate Judge Gary Brown’s order to release flood insurance documents to determine whether engineers and adjusters conspired to deny Superstorm Sandy claims. More …  

FEMA clarifies loss settlement issues

FEMA has released Bulletin W-14058 to provide clarification in 1.) the application of the Replacement Cost Loss Settlement and Actual Cash Value Loss Settlement provisions; 2.) the use of flood insurance claims proceeds; and 3.) FEMA’s Underwriting and Claims Operation Review Tool.  

NAIC forms cyber security task force

The National Association of Insurance Commissioners formed a special task force recently, aimed to help coordinate insurance issues related to cyber security and providing recommendations regarding NAIC’s efforts to protect information housed in insurance departments and NAIC, and collecting information on cyber-liability policies. More …   

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Ask PIA: Tie-in sales

Q. A customer recently informed me that the bank preparing her mortgage loan refused to approve the loan unless she also bought her homeowners insurance through it. Is this legal? A. No. 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.   

PIANH offers E&O assistance to members

Your PIANH membership gives you access to an industry expert on errors-and-omissions questions. These issues are of utmost importance to your day-to-day agency operation—don’t let these important questions keep you up at night. Let PIA’s E&O Consultant Robert Sullivan, Esq., who has expertise in the defense of insurance agents and brokers in professional liability and complex insurance litigation, help you. To pose a question, email resourcecenter@pia.org or fax your inquiry to the PIA Industry Resource Center at (888) 225-6935. Additionally, your association also offers quality E&O insurance coverage for insurance agents and brokers. For an immediate, no-obligation quote, click here. To see a listing of PIANH’s E&O-related courses, many of which offer a discount on your E&O coverage, click here.  

Upcoming PIANH Webinars

PIANH will offer the following Webinars in the next few months: The National Flood Insurance Program Revised and Updated (Tuesday, Dec. 9, from 10 a.m.-noon, NHCEU: 1 GEN PRO); Top Ten Commercial Lines Endorsements (Wednesday, Dec. 10, from 10-11 a.m., NHCEU: 1 GEN PRO); 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); 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.  

Fiduciary account requirements—a producer’s responsibility

Insurance producers have strict fiduciary responsibilities to their insureds and for handling their insurance premiums. The New Hampshire Insurance Department outlines these requirements in Insurance Law Section 1303, which covers fiduciary obligations, commingling of funds, premium trust accounts and record-keeping requirements. For specific information on your responsibilities as an insurance producer, access QS28004 in PIA’s QuickSource library.  

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