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  1. Risk retention groups’ exemptions from state laws, regulations | Ask PIA

    Are risk retention groups subject to states’ insurance laws and regulations regarding cancellation, nonrenewal, and other policyholder protections?

    No. When Congress enacted the 1986 Risk Retention Act, which authorizes today’s risk retention groups, it exempted the groups from most state insurance laws and regulations. Only specified types of laws can be applied to risk retention group operations, notably unfair claims practice, the payment of taxes, limited financial reporting...

  2. Producer opportunity to improve flood rates | Ask PIA

    What is the National Flood Insurance Program Community Rating System?

    The National Flood Insurance Program’s Community Rating System was implemented as a program for recognizing and encouraging community floodplain management activities that exceed the minimum NFIP standards. Those communities that don’t participate in the program are missing an opportunity to recognize a 5% to 10% rate discount and potentially greater...

  3. Long-term care—NYS Partnership producer training requirement | Ask PIA

    Is there a special requirement in New York to sell products approved for the New York State Partnership for Long-Term Care?

    As of Jan. 1, 2021, there are no insurers offering new Partnership policy purchases in New York state. Historically, the Partnership Agent Training Certification Course was required for any insurer to sell or market New York State Partnership policies. The Partnership training and certification is still available to agents who...

  4. PIP coverage for school-bus passengers | Ask PIA

    If a child is injured in a vehicle used to transport school children, and the vehicle has a seating capacity of less than 15 passengers, which policy provides personal injury protection benefits? Is it the commercial auto policy insuring the vehicle or the parent’s personal auto policy?

    The parent’s personal auto policy will pay the PIP benefits for injury to the child. The personal auto policy and the commercial auto policy have PIP endorsement provisions that are mutually consistent with regard to coverage for school-bus passengers. These provisions are designed to be in compliance with New...

  5. Reinstatement of insurance license | Ask PIA

    Does the Connecticut Insurance Department have a procedure by which they reinstate a revoked insurance producer license?

    Effective Sept. 6, 2006, the Connecticut Insurance Department Licensing Division implemented a review procedure for the reinstatement of insurance producer licenses. This procedure must be followed by all individuals who have 1) had their licenses revoked by the insurance commissioner, or 2) voluntarily surrendered their producer’s license. Failure to follow...

  6. Personal auto—undisclosed operator | Ask PIA

    On a personal auto policy, if a carrier discovers there is an 18-year old living in the household who has not been rated on their policy, can they go back and re-rate the previous policies and charge the insured additional premium? If the insured does not pay, can they be...

    If the insurer discovers undisclosed operator(s) on an in-force policy, the premium can be adjusted accordingly. See the following ISO personal auto policy provision: CHANGESA. This policy contains all the agreements between you and us. Its terms may not be changed or waived except by endorsement issued by us....

  7. Opening a branch office | Ask PIA

    I currently have an agency in another state and wish to open a branch office in New Hampshire, what do I have to do?

    To open an insurance agency branch office in New Hampshire, you must first register a New Hampshire business entity with the New Hampshire Department of State. The original entity may be created in the business’s home state or any other state (such as Delaware). The business entity would then obtain...

  8. DBL for employees working out-of-state | Ask PIA

    We have a client based in New Jersey. The company has six employees working out of their homes in several different states. Since the company is headquartered in New Jersey and that is where the payroll comes from, do we follow the New Jersey disability benefit law or do we have to...

    The employer will need to consider the laws of the states where employees are working from their homes to be certain the employer is compliant. There are only the five states of New Jersey, Rhode Island, California, Hawaii and New York that have disability benefit laws. For example, New York...

  9. Duty of licensee to report fraud, termination “for cause” | Ask PIA

    We are a wholesaler. A broker we deal with has issued checks in connection with insurance placements that subsequently have been dishonored by the bank. Do we have a duty to report this circumstance to the New York State Department of Financial Services?

    Yes. Two relevant, affirmative duties you have to report to the New York State Department of Financial Services involve suspected insurance fraud or termination of an insurance business relationship “for cause.” The fraud reporting was discussed in a recent circular letter: http://www.dfs.ny.gov/insurance/circltr/2007/cl07_01.htm. The department interprets this duty rather...

  10. How to check on continuing-education credits you have earned | Ask PIA

    How can I be sure a continuing-education provider has reported the credits I earned for taking a course?

    New Hampshire is one of several states with a system that lets producers check continuing-education credits they have earned. “SBS Connect” is a service offered by the New Hampshire Insurance Department in conjunction with State Based Systems, a business partner the NHID works with through the National Association of Insurance...

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