Insurance NewsCoronavirus Relief Bill Passes Congress; Trump Threatens Veto
January 13, 2021This situation is in a state of flux and is still developing.
Insurance NewsLloyd’s of London Begins Exit From Fossil Fuels
January 13, 2021Reducing its exposure to coal and oil.
Press ReleasePIA Praises House, Senate Passage of Coronavirus Relief
January 13, 2021Several items advocated by PIA were included in the final bill.
Insurance NewsFarmers to Buy MetLife’s P&C Insurance Unit for $4 Billion
January 13, 2021Subject to the usual regulatory approvals.
Insurance NewsContinuing Resolution Passed as Relief Talks Continue
January 13, 2021Congress seeks consensus on the details of a coronavirus relief package.
Insurance NewsNAIC Elects Officers for 2021
January 13, 2021NAIC Executive Committee.
PIA Welcomes 117th Congress
January 10, 2021PIA has welcomed members of the new 117th Congress. A new Congress means that all legislation that was introduced but not passed by both chambers and signed into law will now be effectively erased. PIA has already begun working with congressional allies to begin the process of reintroducing legislation important to professional independent insurance agents.
PIA Statement on NFIP Extension to Sept. 30, 2021 in Federal Funding Bill
September 23, 2020
WASHINGTON – The National Association of Professional Insurance Agents (PIA National) is praising the House for including a year-long extension of the National Flood Insurance Program in its FY 21 continuing resolution.
NAIC Fall National Meeting to be Virtual Format
September 21, 2020
The 2020 NAIC Fall National Meeting, initially scheduled to be held in Indianapolis, Indiana, will now be held virtually. Due to the ongoing health challenges that are being associated with holding large in-person meetings in the midst of the COVID-19 pandemic, NAIC officers, in consultation with NAIC members, have decided to proceed with planning for the meeting in a virtual format.
Agent Concerns Regarding Website ADA Compliance
September 16, 2020
Recently, PIA National has become aware of pending lawsuits against independent insurance agencies in several states. The suits allege that the agencies’ websites deny equal access to people with disabilities in violation of the Americans with Disabilities Act (ADA) because the sites do not offer accommodations for use by disabled people. This issue is a source of still-developing law around the country.
Lara Urges Companies to Cover Extended ALE
September 10, 2020
To assist Californians displaced by the current and recent wildfires throughout the state, Insurance Commissioner Ricardo Lara issued a notice to all California property and casualty insurance companies urging them to cover additional living expenses (ALE) for those policyholders who remain under mandatory evacuation.
Launch Your PIA DMV Marketing Campaign and Get $250 Back!
September 10, 2020
According to a recent study from Valassis, 37% of consumers are more excited to receive their mail each day than before the pandemic. Is your agency marketing taking advantage of this unexpected trend?
Using the PIA DMV: PIA’s Direct Marketing Vault, you can capitalize on the resurgence of direct mail while also reaching those same prospects online through our direct mail and digital advertising services, available exclusively to PIA members. And now, through the PIA Member Reimbursement Program, PIA members can get $250 back when launching a PIA DMV marketing campaign.
Easy as 1-2-3!
Hurricane Go-Bags During Covid
August 25, 2020
Mississippi Insurance Commissioner Mike Chaney advises consumers to purchase masks, hand sanitizer, and disinfectants and add them to their “Go Bag” in case they must evacuate because of a storm. A Go Bag’s contents should include cash (if the power goes out, credit cards won't work). Consumers should keep cash on hand for replenishing supplies. Medications also need to be packed because pharmacies might be closed, and hospitals could be overwhelmed.
A battery-powered radio will be useful for getting news and information if the electricity is out and cell towers are down. Every family member and pet requires a gallon of water per day if tap water becomes unsafe to drink. Chaney adds that consumers should include a copy of their insurance policies so they can quickly file a claim once the danger has passed. Consumers should review and be familiar with their insurance coverage. Other important documents include Social Security cards, passports, birth certificates, and driver’s licenses.
PIA Urges Reforms in Next Coronavirus Package
August 5, 2020
As delays continue to plague the process, policymakers are still negotiating over what to include in the next coronavirus relief package, which is likely to be the last major coronavirus law passed before the presidential election. PIA National continues to support the creation of a Recovery Fund that will enable small businesses to receive the relief they need to stay afloat and keep their workers employed. PIA National is also working on other vital issues that we believe need to be addressed in pending legislation. -more-
Google Extends Remote Work Policy to July 2021
July 29, 2020
Google is allowing employees to work from home through next summer as it braces for longer-term effects of COVID-19 on the workplace and beyond. “To give employees the ability to plan ahead, we’ll be extending our global voluntary work from home option through June 30, 2021 for roles that don’t need to be in the office,” wrote Google CEO Sundar Pichai in a memo obtained by CNN Business. “I hope this will offer the flexibility you need to balance work with taking care of yourselves and your loved ones over the next 12 months.”
Observers say treating remote working situations as a temporary disruption to an organization now may need rethinking.
Prevent Security Threats with PIA Cyber Insurance
July 29, 2020
Many small business owners may not think they need cyber liability coverage, but small businesses are extremely vulnerable to security threats. And that’s why PIA members can sell PIA cyber insurance to their clients!
PIA and ABA 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 Great American’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.
U.S. Senate Passes PPP Flexibility Act
June 10, 2020
On June 3, the U.S. Senate passed H.R. 7010, the Paycheck Protection Program Flexibility Act, by unanimous consent. The bill extends the window for businesses to be able to spend the funds loaned under the program. The House passed this bill on May 28th. It was signed into law by the president.
The legislation allows businesses that have received Paycheck Protection Program (PPP) loans to spend a smaller percentage of the money, 60 percent instead of the current 75 percent, on payroll and other qualifying expenses and still maintain forgiveness eligibility.
PIA National had urged Congress to repeal the PPP’s payroll requirement altogether, a move that would have provided small businesses with maximum flexibility as they struggle to stay solvent during this difficult time. The bill does give businesses some new flexibility by allocating more time for them to use their PPP funds—24 weeks instead of eight—and extending the deadline for rehiring workers from June 30 to the end of this year.
PIA National will continue to work to improve the PPP in future legislation considered by Congress.
Nearly Half Of Americans Delayed Care Due to Pandemic
June 3, 2020
A Kaiser Family Foundation poll released on May 27 found that 48 percent of Americans said they or a family member has skipped or delayed medical care because of the pandemic, and 11 percent of them said the person’s condition worsened as a result of the delayed care. Since March, hospitals, health systems, and private practices dramatically reduced inpatient nonemergency services to prepare for an influx of COVID-19 patients. The poll also found that about 3 in 10 adults have had trouble paying household expenses.
According to the poll, nearly 7 in 10 of those who had skipped seeing a medical professional expect to get care in the next three months. Despite a significant number of adults saying they delayed care, 86 percent of adults said their physical health has “stayed about the same” since the onset of the outbreak in the United States. Nearly 40 percent of Americans, however, said stress related to the coronavirus has negatively affected their mental health.
Nearly 1 in 4 adults said they or a family member in the next year will likely turn to Medicaid, the federal-state health insurance program for low-income residents.
PIA Program: PIA Cyber Insurance Program
May 27, 2020
As the global pandemic of COVID-19 continues to affect the way we do business, PIA is highlighting specific programs that may be useful to you right now. We hope this is helpful.
Why care about this now? During this pandemic, your clients are finding themselves at home working remotely. Computer hackers can use this time to deploy aggressive ransomware attacks, and sophisticated social engineering scams to try and trick them into divulging sensitive information, so it is important that you educate your clients and protect them. As a PIA member, you can offer cyber liability insurance that responds to the most common threats facing small and medium-sized businesses.
What is it? PIA and ABA Insurance Services (ABAIS) have worked with Great American E&S Insurance Company (rated A+ by A.M. Best) to create a cyber insurance program tailor-made for 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
- Network interruption
- Data breach
- Network security
- 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.
If you’re interested in purchasing cyber insurance for your agency, you can purchase the same PIA cyber insurance for a significantly reduced rate through your local PIA affiliate producers.
Insurance Sidesteps Most COVID Job Losses
May 13, 2020
The insurance industry largely sidestepped the economic onslaught of the coronavirus outbreak, losing 4,400 jobs in April as the pandemic ballooned the nation’s unemployment rate to 14.7 percent, according to the U.S. Department of Labor’s Bureau of Labor Statistics (BLS). The April national unemployment rate represents the largest one-month jump since records began in 1948, the BLS said.
However, the industry-wide drop in the insurance industry was much lower than that seen in other sectors of the economy, representing a small proportion, about 0.16 percent, of the 2,813,100 workers employed in the insurance industry.
Meanwhile, BLS released figures for employment at the nation’s insurance agencies and brokerages in March 2020 over February 2020, reporting they were up 0.20 percent with 852,400 jobs. Employment within the direct property/casualty insurers sector was flat.