V8 2021

In This Issue:

Cover Story

Risk Rating 2.0 Transforms Federal Flood Insurance Program 8-9

Flood insurance agents, carriers and policyholders are having to learn the National Flood Insurance Program’s new ratings methodology, Risk Rating 2.0. PIA Counsel and Director of Regulatory Affairs Lauren G. Pachman, Esq. takes an in-depth look at the changes, tools to aid agents in the transition, and how the new system is doing so far.

News Brief 6-7

PIA Advocacy Helps Kill Negative Provisions in Reconciliation Bill… Some Insurers Pull Back on Cyber Cover…Annual Insurtech Investment Tops $10 Billion…Infrastructure Bill Targets Drunk Driving…LGBTQ+ Insurance Network Opens First U.S. Chapter.

How to Add More Builders Risk To Your Book 10-11

The builders risk insurance market is extremely hot in 2021. Mary Stiglic, a marketing manager for US Assure, takes a look at how the builders risk market operates.

Flood, Crop And 2022 Priorities 12

PIA National Vice President of Government Relations Jon Gentile takes a look back at some of the accomplishments and ongoing efforts on behalf of PIA members as part of PIA’s program of legislative and regulatory advocacy.

Ariel Rivera Instalado Como Oficial De La PIA 13

Ariel Rivera, MBA, CIC, CPIA, of San Juan, Puerto Rico, was installed as an officer of the national PIA during the association’s board of directors meeting held Sept. 23, 2021 in Detroit, Michigan. Since 2015, Ariel has served as the National Director of PIA of Puerto Rico & the Caribbean.

Prepare For Any Crisis with Ready For Everything 14-15

When a crisis hits, it’s the planning and preparation that really counts. Ready For Everything is a crisis information hub brought to you by The PIA Partnership.

Agency Owners: What’s Your Financial Endgame? 16-17

The considerations involved in agency transitions are complex, and decisions can have a big impact on what comes next. Kevin Callahan takes a look at what the process entails, and speaks with a legendary expert on the proper valuation of agencies, Al Diamond.

PIA Prepares to Launch A Major Campaign to Combat Cybercrime 19

Department

From the CEO 5

From the President 5

PIA Member Benefits 20

PIA Member Benefit Spotlight 21

PIA Affiliate Listings 22