PIA of Louisiana's 73rd Annual Convention
July 9-12, 2016 • The Grand Hotel
Point Clear, AL
 
What is PIA?
   •  Join Now
   •  Contact Us
PIA of Louisiana
   •  Board
   •  Committees
   •  Staff
PIA National
Local Chapters
YIPs
   •  Conference
1752 Club

  

  

  

  

  

  

  


For More Information or to Order or Place an Ad
in PIA of Louisiana's Yearbook, Click Here


PIA Legislative Update

We appreciate all those of you have participated in our grassroots efforts! We provide you with an update of the bills we've been working this Session.

HB 932 (Rep. Davis) is a PIA bill and the purpose of it is to reinstate the Louisiana insurance agents' Continuing Education exemption for attained age of 65 years and 15 years of continuous licensing. This bill has passed and been signed by the governor and is effective as of May 10, 2016 — Act 72

HB 935 (Rep. Hollis) is also a PIA bill that we worked with the Louisiana Department of Insurance to get introduced to clarify that insurers are required to notify insureds of any changes in coverage at renewal. While this requirement is outlined in the Louisiana Policyholders Bill of Rights, there is no direct statute on point. HB 935 will remove all ambiguity, and will make it clear that insurer must disclose any change in coverage when renewing a policy of insurance. This bill passed on the House side and will now be heard in Senate Insurance Committee.

HB 746 (Rep. Thibaut) This is the PIA's Insurance Consultant Licensing bill, which was introduced in response to requests from our members. This bill has drawn a lot of interest and input from various industry associations and was really the result of a collaborative effort with DOI and IIABL. This bill was passed in the Senate, but is pending House concurrence scheduled 5/18/16.

HB 476 (Rep. Huval) Provides that only the insurance company (not an insurance producer) can be asked to prepare an addendum to a certificate of insurance that clarifies, explains, summarizes, or provides a statement of the coverage provided by an insurance policy. As many of you have experienced in the past, we as agents are sometimes pressured to attach such documents to certificates of insurance interpreting coverage. Since we as agents do not write the insurance policy, we should not be asked to interpret it. Passed.

HB 663 (Rep. Thibaut) Requires 6 months' notice to non-captive insurance producers prior to an insurance company terminating a producer appointment. As many of you have recently experienced, insurers have exited our state without adequate notice. This statute would prevent such abrupt exits and allow agents the time necessary to find alternative markets for clients. This bill has passed and has been sent to the governor for signature.

HB 352 (Huval) PIA strongly opposed this bill that would require insurance producers and adjusters to retain records for 5 years. In its current form, the bill would require individual producers and adjusters to maintain all records; even if those records belong to the company they work for. Obviously, if a producer or adjuster leaves the company they work for, they can't take records with them, and they would therefore be in violation. This bill was killed in the House Insurance Committee.




Upcoming PIA Events
06/06/2016 -- PIA Award Nomination Deadline

06/07/2016 -- Northeast Chapter Meeting

06/07/2016 -- North Shore Chapter Meeting

06/08/2016 -- Northwest Chapter Meeting

06/08/2016 -- Baton Rouge Chapter Meeting

06/09/2016 -- North Shore Chapter CE Day

06/09/2016 -- North Shore Chapter Kevin L. Cole Memorial Poker Run and CE

07/09/2016 -- YIPS Annual Hospitality Suite

07/09/2016 -- PIA of Louisiana 73rd Annual Convention

07/10/2016 -- PIA of Louisiana 73rd Annual Convention



More...
Virtual Exhibit Hall


Check out our
Virtual Exhibit Hall



Louisiana Citizens Property Insurance Company Is Proud
to Introduce an EPIC Commercial Lines
Policy Issuance System

EPIC will be available June 6, 2016 for new business.
  • All new policies and quotes will be processed in EPIC.
  • LPMS will be available for existing policies.
  • Renewals will begin issuing in EPIC effective September 1, 2016.

Training for Commercial EPIC System:
  • Webinars will be held on the following dates:
    • Wednesday May 25, 2016 @ 9:00 AM
    • Wednesday June 1, 2016 @ 9:00 AM
    • Wednesday June 8, 2016 @ 9:00 AM
  • Instructions on registering will be posted soon on Citizens' site.

Advantages to Producers:
  • Ability to issue New Business policies
  • Ability to endorse policies
  • Ability to post payments to policies
  • LPMS is going away….

Stay tuned for more updates.






Join FEMA Insurance Specialists for a Webinar About
Working with Flood Insurance Claims After a Flood

The webinars will:
  • Help you and your clients work through the flood insurance claims process.
  • Provide a forum for any questions you may have.
  • Provide resources for you and your clients.

FEMA will host the webinars at 10 a.m. CT on Tuesday, May 17; Thursday, May 19; Tuesday, May 24; and Thursday, May 26. Sign up for a date that works best for your schedule at http://r6insuranceclaims.eventbrite.com. If you have questions, please email R6-Mitigation-Outreach@fema.dhs.gov or call 940-898-5164.




Bill Would Rein in Treasury, Fed on Insurance Standards

A bill PIA helped to develop, the Transparent Insurance Standards Act of 2016 would require the U.S. Treasury Department and Federal Reserve to consult with Congress and state insurance regulators represented by the National Association of Insurance Commissioners (NAIC) before approving any international insurance standards.

The NAIC, Treasury, and Federal Reserve are currently engaged in international insurance regulatory discussions with the European Union and other regulators, and the bill seeks to address concerns that EU-style standards would be applied to U.S. insurers in a manner that would undermine our system of state-based insurance regulation.

The bill would require the federal regulators to submit analyses to Congress regarding the impacts of proposed international standards on the United States, giving Congress 90 days to approve or reject the proposal; create the analyses and other related reports with feedback from state regulators on market impacts; publish a proposed agreement in the Federal Register and take public comment for 30 days; and ensure that an international capital requirement for U.S. insurers is consistent with domestic capital-standard rules, including one that the Fed is currently working on.

PIA collaborated with House Financial Service Committee's Housing and Insurance Subcommittee Chairman Blaine Luetkemeyer (R-Mo.)'s office on the development of this legislation and is working to promote its passage. Read PIA's letter of support.





Thanks to Our 2016 PIA Partners:
           
    

American Strategic Insurance (ASI)


Capital Premium Financing


LUBA Workers' Comp

Markel FirstComp

Prime Rate Premium Finance Corporation

Stonetrust Commercial Ins. Co.