PIA of Louisiana's 71st Annual Convention
July 19-22, 2014 • The Grand Hotel, Point Clear, AL
 
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Participate in PIA's Silent Auction Even If
You're Not Attending the PIA Convention

The PIA Convention will kick off this Saturday, July 19. We hope you're planning to attend, but if you're not you can still support our PR Program by bidding on items in our online Silent Auction. The Silent Auction will run from Saturday, July 19 at 8:00 a.m.(CST) — Tuesday, July 22 at 9:00 p.m. (CST). All bidding will take place online and can be done using any smart phone, tablet or computer. It only takes a minute to register and requires just your name, email address and a password of your choosing. We will have both the link and the QR code available for the auction. In order to read a QR code, you must install a QR Reader on your smart phone or tablet. You may also just link to the address below:

http://www.32auctions.com/PIAOFLOUISIANA

Check it out now! You can view our items to-date by going to the above link. We still have people adding items, so be sure to view it again to see a complete list of items available for bidding. It's very easy to set up the account to make your bids so be sure to check it out! This is your way to participate even if you're not able to attend convention!

TERMS AND CONDITIONS: All items must be paid for immediately following the auction if the bidder is attending the PIA of Louisiana 71st Annual Convention. If the winning bidder is not attending, the payment must be made by July 30, 2014 or they will forfeit the item. If the winning bidder fails to comply with the terms of the auction, the item will be offered to the second highest bidder. Pick up will be at the PIA of Louisiana 71st Annual Convention for attendees or at the PIA of Louisiana office for those not attending.

If you have any questions, please just email info@piaoflouisiana.com.




State Farm Hurricane Deductible Jumps to 5%;
Statewide Increase Follows Premium Bump

One month into the hurricane season, State Farm's 308,000 Louisiana homeowner's customers are confronting an unpleasant change: their policies now include a mandatory 5 percent hurricane deductible.

The hurricane deductible was included on new policies in November and added to existing customers as they've renewed their policies on or after Dec. 1, spokesman Gary Stephenson said. Most policies had a 2 percent hurricane deductible; State Farm notifies customers of the change roughly five weeks before their policies renew.

That means a customer with a $200,000 house and 5 percent hurricane deductible will pay for the first $10,000 in damage before insurance kicks in, compared to the $4,000 the customer would have paid under a 2 percent deductible.

The mandatory hurricane deductible accompanied an average statewide rate increase of close to 9 percent on premiums policyholders pay for insurance. The increase averages 9 percent in Orleans and Jefferson parishes, 7.5 percent in East Baton Rouge, and 9.4 percent in Lafayette, according to the Louisiana Department of Insurance.

The increased hurricane deductible wasn't part of State Farm's previously reported rate filing nor was it required to be.

"They (State Farm) can implement the deductible change as long as they apply it to all policyholders, and it's done statewide," said Insurance Department spokeswoman Ileana Ledet. The company doesn't need the Insurance Department's approval.

More...

Upcoming PIA Events
07/24/2014 -- PIA Office Closed

07/25/2014 -- PIA Office Closed

08/13/2014 -- North Shore Chapter CE Day

08/13/2014 -- Baton Rouge Chapter Flood CE

08/13/2014 -- Baton Rouge Chapter Meeting

08/19/2014 -- CISR Commercial Casualty - 2
(Lafayette)

08/20/2014 -- CISR Commercial Casualty - 2
(Baton Rouge)

08/21/2014 -- CISR Commercial Casualty - 2
(New Orleans)

08/22/2014 -- YIPs 10th Annual Bowl-A-Thon

08/22/2014 -- YIPs 10th Annual Bowl-A-Thon Sponsorship Opportunities



More...
2013 Annual Convention
Virtual Exhibit Hall


Check out our
Virtual Exhibit Hall from
PIA's 2013 Convention

Hurricane Relief Center
Click to enter our
Hurricane Relief Center



La. Ranks Second for Homes at
Risk from Hurricane Storm Surge

Louisiana trails only Florida in the number of homes at risk for damage from hurricane-driven storm surge, according to CoreLogic, a global data analysis services firm.

In Louisiana, 738,165 single-family homes valued at $161.1 billion are at risk for "storm-surge inundation." That's the third-highest amount of potential home damage. In Florida, 2.5 million homes valued at $490.4 billion are at risk.

CoreLogic also ranked metro areas by storm-surge risk. New Orleans ranked No. 5 with 381,149 total properties valued at $85.7 billion. Lafayette was No. 14 with 106,166 properties valued at $21.3 billion.

New York ranked third in the number of homes at risk, 466,919, but second in value at $182.5 billion. Among metro areas, New York City had the greatest number of total properties at risk, 687,412 valued at $251 billion.

According to CoreLogic, more than 6.5 million homes along the Atlantic and Gulf Coasts are at risk of storm surge inundation. Those homes are worth nearly $1.5 trillion.

More...




NFIP Refund Procedures Announced

The Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program (NFIP) have issued their first set of instructions regarding premium refunds which the NFIP will begin implementing on October 1, 2014. These refunds are mandated under the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA-2014), which reverse certain provisions of the Biggert-Waters Flood Insurance Reform Act (BW-12). These instructions are contained in NFIP Bulletin w-14035.

Recently, PIA National issued a Special Edition of PIA National Newsline devoted to this and all of the changes to the flood insurance program that have been issued to date. Specific to the issue of the upcoming refunds, it is important to note that they will not be huge and they do not apply to everyone.

FEMA and NFIP are — sporadically — issuing changes and advisories to how the flood insurance program will operate and are designed to reconcile the provisions of HFIAA with BW-12. As you may have noticed, these changes are not happening all at once. They are being rolled out in "dribs and drabs," as they are being developed. It should also be noted that many of the new changes that come out can supplant or supersede previous bulletins and issued procedures. All of this poses a big challenge to agents and their Write Your Own (WYO) carriers.

UPDATE: NFIP's refund information from last week (NFIP Bulletin w-14035) was issued before WYOs and the Flood Insurance Producers National Committee (FIPNC) had a chance to review it. At the close of business on Friday July 3, FEMA/NFIP was advised that modifications and clarifications are needed to this latest bulletin. Please see the attached w-14037, the first of such clarifications to be issued. This does NOT replace, but is to be read in league with, NFIP Bulletin w-14035.





In Case You Missed it: Richie Clements
Will Be Installed as PIA National President

Richie Clements will be installed as PIA National President in San Antonio, TX on September 21 and PIA of Louisiana will be celebrating! If you would like to join us, please call Jody at the PIA office for more information at 800.349.3434 or email jody@piaoflouisiana.com. We'd love to have you join us as we honor our 4th PIA National President from Louisiana. Other past PIA National Presidents include: Dan Blum, Mike Grace and Robert Page.





Thanks to Our 2014 PIA Partners:
                     

Americas Insurance Company


American Strategic Insurance (ASI)


Capital Premium Financing

Markel FirstComp

LCTA Workers' Comp

LUBA Workers' Comp

Prime Rate

Stonetrust Commercial Ins. Co.

VIP Software