Industry News

WASHINGTON — The National Association of Professional Insurance Agents (PIA National) is pleased by legislation to repeal the Federal Insurance Office (FIO), H.R. 1862, which has been reintroduced in the U.S. House by Rep. Alex Mooney (R-WV).

“The FIO has never been necessary,” said PIA National Vice President of Government Relations Jon Gentile. “Advocates of federal insurance regulation succeeded in getting the FIO established as part of the Wall Street Reform and Consumer Protection Act (Dodd-Frank)—but PIA National has never given up on repealing it.”

“Many of the FIO’s duties are examples of federal overreach in the context of our system of state insurance regulation,” Gentile said. “The FIO has consistently sought new ways to expand its mandate beyond the intent of Congress, which put specific limits on its authority.” PIA National was the first national insurance association to call for the repeal of the FIO.

Over the nearly ten years of its existence, the FIO has called for federal regulation of mortgage insurance; for its inclusion in supervisory colleges with state regulators; and for uniform national standards for state guaranty associations. In addition, it now seeks to administer the National Association of Registered Agents and Brokers (NARAB). Each of these actions is an overreach.

Although PIA has supported other efforts to rein in the FIO, such as the Federal Insurance Office Reform Act of 2018 (H.R. 3861) in the 115^th Congress, consumers and those concerned about maintaining the successful state insurance regulatory system would be better served by its repeal.

PIA National worked closely with Rep. Mooney on developing his bill. PIA National will continue this effort by vigorously advocating for Rep. Mooney’s legislation at the upcoming PIA Federal Legislative Summit and throughout the 116^th Congress.

Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes, and businesses. PIA members are Local Agents Serving Main Street America^SM. PIA’s web address is www.pianet.com.

Many small business owners may not think they need cyber liability coverage, but small businesses are extremely vulnerable to security threats. That’s why PIA is excited to announce that PIA members are now able to sell PIA cyber insurance to their clients!

PIA and ABAIS Insurance Services have worked with Great American E&S Insurance Company (rated A+ by A.M. Best) to create a cyber insurance program that responds to the most common threats facing small and mid-sized businesses.

The PIA enhanced cyber insurance policy covers both first- and third-party loss for the most common cyber risks such as social engineering, funds transfer fraud, ransomware, network interruption, data breach, network security, and media liability. In addition to the seven coverage parts, PIA members’ clients are provided with special PIA enhancements and reduced rates compared to ABAIS’s standard program for social engineering coverage.

PIA members who sell PIA cyber insurance receive 12.5% in sales commission.

Many agents are able to purchase the same PIA cyber insurance for their agency for a significantly reduced rate through their local PIA affiliate.

Getting started is easy. Protect your clients today.

Need more information? Watch a pre-recorded webinar.

Many small business owners may not think they need cyber liability coverage, but small businesses are extremely vulnerable to security threats. That’s why PIA is excited to announce that PIA members are now able to sell PIA cyber insurance to their clients!

PIA and ABAIS Insurance Services have worked with Great American E&S Insurance Company (rated A+ by A.M. Best) to create a cyber insurance program that responds to the most common threats facing small and mid-sized businesses.

The PIA enhanced cyber insurance policy covers both first- and third-party loss for the most common cyber risks such as social engineering, funds transfer fraud, ransomware, network interruption, data breach, network security, and media liability. In addition to the seven coverage parts, PIA members’ clients are provided with special PIA enhancements and reduced rates compared to ABAIS’s standard program for social engineering coverage.

PIA members who sell the PIA cyber insurance receive 12.5% in sales commission.

Agents are able to purchase the same PIA cyber insurance for their agency for a significantly reduced rate through their local PIA affiliate producers.

Getting started is easy. Protect your clients today

Results are now in from the 2019 National Underwriter/PIA Independent Agent Study, conducted by Flaspöhler/NMG Consulting.

Since 2017, PIA National has partnered with the National Underwriter and PC360 to develop to develop insights into the commercial lines segment from the perspective of independent Property & Casualty insurance agents and brokers throughout the United States

The survey asks producers for their views on working with commercial carriers, their books of business and the challenges they face. Taken as a whole, the survey comprises a comprehensive view of the successes and challenges of today’s independent insurance agents.

When asked which factors most influence how insurance agents evaluate and select commercial carriers, their top responses (in order) were ‘products and coverage’ followed by ‘responsive service’ and ‘claims management.’

In reviewing the results, Mike Becker, executive vice president & CEO of PIA, noted: “More than half of the agents participating in the study reported that their commissions increased, and more than one quarter said they remained the same. In addition, more than half who had a decrease said it was relatively modest, between 1% and 5%. This indicates ongoing stability in agent compensation in the current market conditions.”

He added, “When asked to rate their overall level of satisfaction with the P&C carriers they use for commercial lines, agents responding ‘very satisfied’ (36.5%) or ‘somewhat satisfied’ (50.6%) were more than three-quarters of those responding.

Over the next several weeks, we will be featuring aspects of the study results, as well as reporting some of the open-ended comments made by participants.

In Depth:

Listening to Agents: results of the 2019 NU/PIA Independent Agent Study

Now PIA members can sell the same great PIA cyber insurance coverage that many have already purchased for their own agency.

PIA’s cyber insurance is the first cyber insurance program tailor-made for small and medium-sized businesses. The PIA enhanced cyber insurance policy covers both first- and third-party loss for the most common cyber risks such as social engineering, funds transfer fraud, ransomware, network interruption, data breach, network security, and media liability. In addition to the seven coverage parts, PIA members’ clients are provided with special PIA enhancements and reduced rates compared to ABAIS’s standard program for social engineering coverage.

PIA members who sell the PIA cyber insurance receive 12.5% in sales commission.

Getting started is easy. Start protecting your clients today.

• Need more information? Attend a webinar on March 7 at 2 PM ET.

• Haven’t purchased cyber insurance for your agency yet? Contact your local PIA affiliate.

Cyber101 is an educational resource created by PIA and The PIA Partnership to help educate PIA members and their clients about the seven most common cyber risks faced by small and mid-sized businesses, as well as the business practices and insurance coverages that can reduce those risks.

Cyber 101 focuses on seven key areas of risk: fraudulent funds transfer, extortion/ransomware, social engineering, business interruption, data breach/privacy, network security, and website media liability. Agents can learn more about each risk with additional resources such as interactive claims examples that demonstrate loss risks to clients, 1-page PDFS explaining the risk, and 30-minute webinars. PIA agents can also personalize and provide their clients with general cyber educational resources.

Visit Cyber 101 today to gain the knowledge you need about the seven most common cyber risks faced by businesses.

For additional information about The PIA Partnership, please visit www.ThePIAPartnership.com.

Thank you to the current PIA Partnership companies: Central Insurance Company, Encompass Insurance, Erie Insurance, Liberty Mutual Insurance, MetLife Auto & Home, National General Insurance, Progressive Insurance, Selective Insurance Group, State Auto Insurance Companies, and The Hanover Insurance Group.

Cyber insurance will protect your clients’ business if their server is hacked, and their electronically transmitted data is compromised. Share the new consumer-friendly issue paper covering cybersecurity insurance from The PIA Branding Program with your clients.

This one-page paper features key tips your clients should consider when considering cybersecurity insurance coverage. Each paper is available in multiple formats (1) ready-to-send with PIA logo and branding, (2) customizable so that it can be personalized by PIA members with their photo/logo and contact information, and (3) an infographic for social media. Social media copy is also provided for each paper.

Log on here and download yours! Start sharing this content with your clients today or utilize the text on your agency's website, email, or blog.

The PIA Branding Program provides a collection of free advertising and marketing materials PIA members can customize and use in their local market and beyond.

Funding for the PIA Branding Program is provided in part by PIA’s Pinnacle Partners: Bankers Insurance Group, Encompass Insurance, Erie Insurance, Motorists Insurance Group, State Auto Insurance Companies, and Wright Flood.

WASHINGTON –The National Association of Professional Insurance Agents (PIA) applauds the enactment of the 2018 Farm Bill and lauds its commitment to crop insurance as a key risk management tool for the nation’s farmers and ranchers.

President Trump signed the Farm Bill today in a ceremony at the White House. The Senate passed the bill by a vote of 87-13 on December 11, and the House passed the bill by a vote of 369-47 on December 12.

The compromise Farm Bill, which includes the federal crop insurance program, preserved vital crop insurance provisions and recognized the important role that independent insurance agents play in the delivery of this vital federal program.

“We are pleased that Congress was able to agree on a compromise Farm Bill that includes strong support for the federal crop insurance program,” said Jon Gentile, PIA’s Vice President of Government Relations. “The overwhelming votes in favor of the bill in both the House and Senate and the president’s signing of it signal strong, bipartisan support for the key crop insurance provisions it includes.”

Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses. PIA members are Local Agents Serving Main Street America ^SM. PIA’s web address is www.pianet.com.

Cyber101 is an educational resource created by PIA and The PIA Partnership to help educate PIA members and their clients about the seven most common cyber risks faced by small and mid-sized businesses, as well as the business practices and insurance coverages that can reduce those risks.

Cyber 101 focuses on seven key areas of risk: fraudulent funds transfer, extortion/ransomware, social engineering, business interruption, data breach/privacy, network security, and website media liability. Agents can learn more about each risk with additional resources such as interactive claims examples that demonstrate loss risks to clients, 1-page PDFS explaining the risk, and 30-minute webinars. PIA agents can also personalize and provide their clients with general cyber educational resources.

Visit Cyber 101 today to gain the knowledge you need about the seven most common cyber risks faced by businesses.

For additional information about The PIA Partnership, please visit

http://www.ThePIAPartnership.com

Thank you to the current PIA Partnership companies: Central Insurance Company, Encompass Insurance, Erie Insurance, Liberty Mutual Insurance, MetLife Auto & Home, National General Insurance, Progressive Insurance, Selective Insurance Group, State Auto Insurance Companies, and The Hanover Insurance Group.

For the third year in a row, PIA is partnering with the National Underwriter to conduct an all-new survey of independent agents. The 2019 National Underwriter/PIA Independent Agent Survey will be sent out starting next week.

The inaugural Agent Survey, which debuted in March 2017, provided the most comprehensive look ever offered at the demographics, books of business, selling practices and pain points of independent agents in the U.S. The 2018 Agent Survey yielded additional valuable insights for agents and carriers alike.

PIA members will receive a link to the survey starting next week.

The Hartford is one of the largest flood insurance writers in the country, having written flood insurance through FEMA’s National Flood Insurance Program for over three decades.

The Hartford wants to be your go to flood market for both personal lines and commercial lines. Their dedicated flood sales and transfer teams want to earn your business by making it easy to do business and providing exceptional service for both you and your customers.

If you would like more information about the program, attend a free webinar on Friday, November 16 at 2:00 P.M. Eastern to learn more about PIA’s national partnership with The Hartford and its flood insurance program. Joseph M. Surowiecki, Jr. of The Hartford will cover program details as well as answer any questions you may have about PIA’s long-standing flood insurance program with The Hartford.

Register today.

Can’t wait for the webinar? Learn more now.

The Hartford is one of the largest flood insurance writers in the country, having written flood insurance through FEMA’s National Flood Insurance Program for over three decades.

The Hartford wants to be your go to flood market for both personal lines and commercial lines. Their dedicated flood sales and transfer teams want to earn your business by making it easy to do business and providing exceptional service for both you and your customers. Flood producers enrolled in PIA’s Flood Program with The Hartford have benefitted from sales support, marketing materials and preferred commission rates.

If you would like more information about the program, attend a free webinar on Friday, November 16 at 2:00 P.M. Eastern to learn more about PIA’s national partnership with The Hartford and its flood insurance program. Joseph M. Surowiecki, Jr. of The Hartford will cover program details as well as answer any questions you may have about PIA’s long-standing flood insurance program with The Hartford.

Register today.

Can’t wait for the webinar? Learn more now.

PIA National Immediate Past President Tim Russell is joining PIA staff members this week to meet with the Federal Emergency Management Agency (FEMA) concerning the future of the National Flood Insurance Program (NFIP). PIA is also meeting this week with representatives of the Federal Insurance Office (FIO) concerning terrorism risk insurance and the Department of Labor (DOL) regarding possible future revisions to the overtime rule.

Recent rule changes enacted by the federal government mean insurers now can sell short-term policies that last up to 12 months, renew them for up to 36 months, reject people with pre-existing conditions, and place lifetime limits on what the coverage pays for.

The Pennsylvania Insurance Department has published a brochure to help people understand the differences between coverage offered under Affordable Care Act (ACA) plans and short-term policies, and ask the right questions. States can still regulate short-term health plans. Legislators in California recently passed a ban on sales of short-term plans. New Jersey, Massachusetts, New York, Maryland, Hawaii and other states have severely restricted or banned short-term plans.

Now in its 14^th year, the PIA and The Hartford program offers easy enrollment for PIA members who want to earn great flood insurance commissions while working with a top-flight Write-Your-Own flood insurance company. The program is available to PIA members and their policyholders in all 50 states, the District of Columbia and Puerto Rico.

If you would like more information about the program, attend our free webinar on Friday, May 18 at 2:00 P.M. Eastern to learn more about PIA’s national partnership with The Hartford and its flood insurance program. Joseph M. Surowiecki, Jr. of The Hartford will cover program details as well as answer any questions you may have about PIA’s long-standing flood insurance program with The Hartford.

Register today.

Can’t wait for the webinar? Learn more now.

Take this opportunity to reevaluate your agency’s flood insurance program and consider PIA’s program with The Hartford.

Now in its 14^th year, the program offers easy enrollment for PIA members who want to earn great flood insurance commissions while working with a top-flight Write-Your-Own flood insurance company. The program is available to PIA members and their policyholders in all 50 states, the District of Columbia and Puerto Rico.

If you would like more information about the program, please attend our free webinar on Friday, May 18 at 2:00 P.M. Eastern to learn more about PIA’s national partnership with The Hartford and its flood insurance program. Joseph M. Surowiecki, Jr. of The Hartford will cover program details as well as answer any questions you may have about PIA’s long-standing flood insurance program with The Hartford.

Register today.

Can’t wait for the webinar? Learn more now.

WASHINGTON – The National Association of Professional Insurance Agents (PIA), a national trade association that represents independent insurance agents, has issued a statement welcoming Nationwide Insurance agents who will be transitioning into the independent agency insurance distribution system.

On April 16, Columbus, Ohio-based Nationwide announced its intention to shift entirely to an independent agency distribution model by July 1, 2020. The company is one of the largest carriers that currently sells products through both exclusive and independent agents.

“This is another illustration of the fact that the independent agency system is the insurance distribution system of choice,” said PIA National President Timothy G. Russell.

Nationwide said in a press statement that there are approximately 2,000 existing agents who have been operating under the Nationwide brand that will have the opportunity to transition to an independent agency model between now and July 1, 2020. The company already has relationships with more than 10,000 independent agents across the United States.

“PIA would like to welcome all the Nationwide agents who will be moving to what we believe is the superior independent agent system. We encourage the agents who will be joining our ranks to take advantage of many business-building programs offered by PIA that help add to an agency’s bottom line. In addition, PIA advocates for you in Congress and throughout the industry. You can rest assured that, to paraphrase Nationwide’s slogan, PIA is also on your side.”

Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses. PIA members are Local Agents Serving Main Street America ^SM.PIA’s web address is www.pianet.com.

Professional Insurance Agents from around the country are converging this week on Washington, D.C. for the annual PIA Federal Legislative Summit (FLS). The Summit will be held April 24-25.

PIA members will advocate for solutions that enable agents to better serve their clients and communities by encouraging Congress repeal the Federal Insurance Office (FIO), protect a strong and stable crop insurance program, and reinstate fair and just compensation in healthcare.

PIA thanks our FLS Platinum sponsors The PIA Partnership and Progressive Insurance; our FLS Gold sponsor, Crop Risk Services; and Silver sponsors NAU Country Insurance, Liberty Mutual Insurance, and State Auto Insurance Companies.

For more information, visit the FLS webpage at www.piafls.com.

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PIA members will converge on Washington, D.C. April 24-25 for the 2018 PIA Federal Legislative Summit (FLS). The annual PIA Federal Legislative Summit is a gathering of PIA members from around the country who come together to meet with their members of Congress and advocate their positions on issues of importance to Professional Insurance Agents.

“Our annual legislative summit is a key opportunity for PIA members to solidify their relationships with members of Congress, in order to continue to advance our issues,” said PIA National President Tim Russell.

PIA members will advocate for solutions that enable agents to better serve their clients and communities by encouraging Congress repeal the Federal Insurance Office (FIO), protect a strong and stable crop insurance program and reinstate fair and just compensation in healthcare.

PIA thanks our FLS Platinum sponsors The PIA Partnership and Progressive Insurance; and our FLS Gold sponsor, Crop Risk Services.

For more information, visit the FLS webpage at www.piafls.com.

Authorization for the National Flood Insurance Program (NFIP) has been extended until July 31, 2018, as part of the fiscal 2018 omnibus appropriations bill that was passed by Congress and signed by President Trump on Friday March 23.

PIA issued a statement noting that we are alarmed that Congress has decided to decouple the NFIP—that is separate it—from the funding of the federal government, rather than continue it to September 30 along with the rest of the omnibus.

“In the absence of a must-pass legislative vehicle to which it can be attached, the program will now be in danger of expiring for an extended period during hurricane season, putting millions of flood insurance policyholders at risk,” said PIA National Vice President of Government Relations Jon Gentile. “In the wake of the devastating 2017 hurricanes, Congress should take no chances with the homes and businesses of policyholders.”

PIA will continue to advocate for Congress to pass a long-term reauthorization of the program that recognizes the essential role independent agents play in providing expert advice to consumers. “Given the decision to decouple the program and the approach of another hurricane season, failure to reauthorize the NFIP by July is not an option,” Gentile said.