Industry News

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.

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.

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

With the signing of the budget deal by President Donald Trump, the National Flood Insurance Program (NFIP) has been reauthorized until March 23. The NFIP has been reauthorized through stopgap measures since September. This is the fifth such stopgap extension.

“While it is disappointing that the NFIP lapsed again, though this time only for a few overnight hours, we’re pleased with the extension to March 23,” said PIA National Vice President of Government Relations Jon Gentile in a statement. “Congress must use the time between now and then to move away from short-term measures and provide a long-term reauthorization of this program,”

The NFIP originally expired on September 30, 2017, after its 5-year authorization ended. It was then extended until December 8^th, then again until December 22^nd, then extended again until January 19, and again until February 8.

“The NFIP is a program that requires certainty. It is also in great need of reforms. PIA will continue our advocacy for a long-term reauthorization of the program that recognizes the essential role independent agents play in providing expert advice to consumers,” Gentile said.

PIA is opposed to the steep cuts to crop insurance once again included in the Trump Administration proposed budget for Fiscal Year 2019, which was released Monday Feb. 12. PIA issued a statement.

The Administration’s budget proposes a $26 billion cut to crop insurance over the next 10 years. The cuts come in the form of an adjusted gross income (AGI) limit for crop insurance of $500,000, a reduction in the average of premium discounts for farmers by 14 percentage points, and a reduction in subsidies to crop insurance companies by asking Congress to legislate a 12 percent cap for underwriting gains.

The budget proposals run counter to remarks President Trump made to the American Farm Bureau’s annual convention on Jan. 8, when he expressed support for crop insurance premium subsidies in the upcoming Farm Bill.

“We thought the president had come around to supporting crop insurance, but the Administration’s proposed budget tells a different story,” said Jon Gentile, Vice President of Government Relations for PIA National. “These proposed cuts would not only hurt farmers and the agriculture community, but also would harm the independent insurance agents who work diligently to sell and service crop insurance policies on behalf of the Federal Crop Insurance Program.”

Results of the 2018 National Underwriter/PIA Independent Agent Study have just been released, in the February 2018 issue of the National Underwriter.

In 2017, PIA National forged an alliance with the National Underwriter and Flaspöhler, part of NMG Consulting, to conduct the inaugural Independent Agent Study – a research project designed to annually take the pulse of independent Property & Casualty insurance agents throughout the U.S. and provide insight into the demographics, books of business and challenges they face. Agents also reveal their most highly rated carrier partners.

The expanded questionnaire — crafted by Flaspöhler, P&C carriers, PIA and NU — is distributed to NU’s proprietary lists of independent agents nationwide as well as PIA’s national membership (in return for the exclusive right to publish highlights of the study findings), resulting in the most reliable and scientifically sound sample in the history of this study.

The 2018 study is a follow-up to 2017’s highly successful survey.

In the coming months, PIA will also report the results of a separate set of questions that were asked only of PIA members who participated in the overall survey. These questions are PIA-specific and are proprietary to PIA.

Click here to enlarge survey results.

Click here to read the February issue of NU.

Being prepared for an emergency means having emergency kits ready to go! The PIA Branding Program has released a new consumer-friendly issue paper covering emergency preparedness tips for your clients.

This one-page paper features key tips your clients should consider if they run into an emergency that Mother Nature may bring. 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, Nationwide Independent, Progressive Insurance, State Auto Insurance Companies, The Motorists Insurance Group, and Wright Flood.

The three-day federal government shutdown ended with Monday’s compromise in Congress extending funding until February 8.

On Monday January 22, the Senate agreed 81-18 to end debate, approving a temporary funding plan through Feb. 8—the culmination of days of deal making that unfolded as both parties traded blame for the government closure that began at 12:01 a.m. Saturday. Senate Minority Leader Chuck Schumer said he and Senate Majority Leader Mitch McConnell had “come to an arrangement.” Later Monday, the House passed the continuing resolution 266-159, and President Trump signed it. PIA issued a statement.

This leaves almost three weeks for the parties to resolve deep differences on the issue of immigration, the major stumbling block that led to the three-day shutdown.

The National Flood Insurance Program (NFIP) did go into technical shutdown during the three days, but it has been reauthorized until February 8. During the three-day shutdown, FEMA had requested that agents and other industry professionals begin implementing its guidance.

A government shutdown would not have affected payment of flood insurance claims, and the insurance that people have would remain in effect. Where the effect of a shutdown is felt is with real estate closings, where lenders require flood insurance. The National Association of Realtors estimated in a 2011 study that the inability to write new policies affected 1,332 homes sale closings per day, or roughly 40,000 per month. The association derived the estimate from a 33-day period during the height of summer home sales in 2010 when the NFIP had not been reauthorized.

As part of PIA’s ongoing partnership with The Hartford’s flood insurance program, we are proud to provide PIA members with the latest Flood Agent eNewsletter produced by The Hartford for its flood insurance agents. This month’s contents address important facts about ice jam flooding, the NFIP reauthorization update, and claim capabilities on FloodPro.

In addition to The Hartford’s eNewsletters, PIA members visiting PIA’s Flood Insurance Marketing Support Center can download flyers to help their personal lines and commercial lines clients prepare for floods, deal with the aftermath of flooding, and how to prepare for a visit by an adjuster.

PIA thanks The Hartford for making these excellent materials available to all PIA members, regardless of their participation in PIA’s flood insurance program with The Hartford.

PIA members who want to earn great flood insurance commissions while working with a top-flight Write-Your-Own flood insurance company should consider the PIA/Hartford flood insurance program. To learn more visit www.pianet.com/hartfordfloodinsurance or contact Joseph M. Surowiecki, Jr. of The Hartford at 860-547-5006 or joseph.surowiecki@thehartford.com.

Independent insurance agents need to have the same level of expertise and competence about cyber insurance that they have in other areas of risk and insurance. That’s according to PIA Executive Vice President & CEO Mike Becker, in an opinion article [Putting Cyber in Proper Perspective] appearing in PC360 and the National Underwriter.

“As bad as they are now, cyber attacks are only likely to increase, making it all the more important for independent insurance agents to have the knowledge and the tools they need to help their clients protect themselves,” says Becker. “That’s why PIA National joined together with our carrier council, The PIA Partnership, to unveil a new, comprehensive educational resource: Cyber 101, available to PIA members and agents appointed by carriers participating in The PIA Partnership.”

As part of PIA’s ongoing partnership with The Hartford’s flood insurance program, we are proud to provide PIA members with the latest Flood Agent eNewsletter produced by The Hartford for its flood insurance agents. This month’s contents address the NFIP reauthorization, the Broker of Records process, and spotlights the Increased Cost of Compliance.

In addition to The Hartford’s eNewsletters, PIA members visiting PIA’s Flood Insurance Marketing Support Center can download flyers to help their personal lines and commercial lines clients prepare for floods, deal with the aftermath of flooding, and how to prepare for a visit by an adjuster.

PIA thanks The Hartford for making these excellent materials available to all PIA members, regardless of their participation in PIA’s flood insurance program with The Hartford.

PIA members who want to earn great flood insurance commissions while working with a top-flight Write-Your-Own flood insurance company should consider the PIA/Hartford flood insurance program. To learn more visit www.pianet.com/hartfordfloodinsurance or contact Joseph M. Surowiecki, Jr. of The Hartford at 860-547-5006 or joseph.surowiecki@thehartford.com.

Floodbroker.com can help you convert your clients and prospects into flood insurance clients. PIA has an exclusive partnership with Floodbroker.com, a unique service that makes it easy for your clients and prospects to learn about their flood risks and how much an NFIP policy will cost them—right on your agency’s website.

On Wednesday, January 17, 2018 at 2:00 p.m. Eastern, PIA is holding a FREE WEBINAR so you can learn all about Floodbroker.com and what it can do for your agency’s growth potential. Evan Spindelman, Floodbroker.com president, will show you the website interface and illustrate how easy it is to use. The webinar will conclude with an open Q&A session.

Space is limited, so register today.

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

As part of PIA’s ongoing partnership with Floodbroker.com, we are proud to provide PIA members with December’s Floodbroker.com newsletter, a monthly newsletter produced by Floodbroker.com for flood insurance agents.

Shortly before Christmas, Congress adopted a stopgap continuing resolution (CR) averting a government shutdown. As a result, government funding is maintained at current levels through January 19.

“We are pleased that the National Flood Insurance Program [NFIP] was extended as part of the continuing resolution,” said Jon Gentile, PIA vice president of government relations. “This will keep the flood insurance program fully operational through January 19, guarding against interruptions for policyholders and protecting the progress of real estate transactions that require evidence of flood coverage.”

Gentile added that while it is positive that the NFIP will not lapse, it’s vital that in 2018, Congress move away from short-term measures and provide a long-term reauthorization of the program. “We will continue our advocacy in pursuit of that goal,” he said.

Just in time for the holidays, The PIA Branding Program has released a holiday light and fire safety-focused consumer-friendly issue paper with safety information for your clients.

This one-page paper features key information your clients should know to help them stay safe this holiday season. 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) new papers include 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. Happy holidays!

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, Nationwide Independent, Progressive Insurance, State Auto Insurance Companies, The Motorists Insurance Group, and Wright Flood.

WASHINGTON — The National Association of Professional Insurance Agents (PIA) has issued the following statement on the House’s passage of H.R. 2874, the 21^st Century Flood Reform Act:

PIA opposed the bill over the provision that cuts the Write-Your-Own (WYO) reimbursement rate paid to insurance companies that participate in the NFIP by 3 percentage points. The WYO reimbursement rate is the vehicle by which agents receive their commissions for selling NFIP policies. Many WYO carriers have stated that, for them to remain in the program, they will pass on the cut to agents through their commissions.

PIA National Vice President of Government Relations Jon Gentile said:

“H.R. 2874 includes some important reforms to the National Flood Insurance Program (NFIP), such as revamping mapping and mitigation programs and including a mechanism for consumers and communities to appeal FEMA decisions. Notably, PIA is pleased with the inclusion of language to incentivize the growth of the private flood market, which we strongly support.

“Despite these positive aspects, PIA opposes H.R. 2874 because it contains a provision that will hurt consumers, agents, and the program itself going forward.

“One of the goals of reforming the NFIP is to increase sales of policies, especially preferred risk policies, to put the program on a firmer financial footing. Reducing agent compensation undermines that goal by applying a disincentive for agents to increase sales. Such a cut will force agents who currently sell flood insurance to leave the program, because it will become prohibitively expensive for agents to continue to sell flood insurance, and it will discourage new agents from entering the NFIP policy market.

“PIA will continue to work with Congress to provide a strong and robust protection for agent compensation, so consumers will have the expertise they need to navigate the NFIP, and the program itself can achieve the increased level of participation it requires to be financially strong.”

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.

President Donald Trump signed into law a $36.5 billion disaster aid bill that contains $16 billion in debt forgiveness for the National Flood Insurance Program. The relief package, which includes funds for recovery from hurricanes Harvey, Irma, and Maria, was approved by the House on October 12. The package, H.R. 2266, was passed in the Senate on October 24.

PIA issued a statement praising the NFIP debt forgiveness, which will allow the NFIP to continue to pay claims, as it had already reached its borrowing limit. PIA is continuing to work with Congress to provide a long-term reauthorization of the NFIP that recognizes the vital role independent insurance agents play in delivering the program to policyholders. Authorization for the flood insurance program is currently set to expire on December 8.