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VOLUME 125, NUMBER 3 / Februar 10, 2014
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February 10, 2014 | volume 125 number 3
[COVER STORY ] 16
LICONY Heats Up Legislative Activities
Foreword: CARCO Key to 16 Arrests Steve Acunto, Publisher
Insight: Budget Balancing (and Other Magic Tricks) Peter H. Bickford
In the News: National General Holdings Corp. Acquires Renewal Rights and Assets of Tower Group’s Personal Lines Business
On the Level: Peace of Mind Jamie Deapo
In the Associations: MetroRAP Rings in the New Year
LIFE: Life Settlements Market Holds New Opportunities
On My Radar: First Party vs. Third Party Barry Zalma
Looking Back: February 1989
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Correction: We incorrectly identified Martin D. Haber, Esq., as being affiliated with FTI Consulting in our End of Year, 2013 edition, page 24. Mr. Haber is an independent lawyer specializing in insurance, reinsurance and arbitration matters with no affiliation to FTI Consulting. We apologize to Mr. Haber for the error.
Like us on Facebook… The Insurance Advocate Magazine INSURANCE ADVOCATE / Februar 10, 2014 3
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[ FORE WORD ]
CARCO Key to 16 Arrests
o sad to learn of Gene Wollan’s passing. He was a force for good in the field of reinsurance law and a great friend. I knew Gene from the Metropolitan Opera and other incarnations in addition to his being a great writer and contributor for the Insurance Advocate. R.I.P... The Life Insurance Council of New York (LICONY) met recently and hosted Senator Seward, Assemblyman Sullivan and DFS Superintendent Ben Lawsky. All in all, LICONY has challenged legislators to pass some interesting legislation and from the looks of things there is great interest in it. We hope that Tom Workman, LICONY President and CEO, EUGENE WOLLAN and Mike Zarcone, the new Chairman and Chief of Staff, realize gains for this enormously important sector of the industry... Speaking of important sectors, we have been debating in these pages the value of CARCO. Along comes an article in the New York Times concerning a luxury car theft ring with sixteen arrests and credit for its undoing goes to CARCO. We quote the New York Times report, in part, as follows: “As crime rates have dropped, so too it seems has the caution of car owners. Some of the thefts by the gang arrested this week occurred when drivers left vehicles idling in a driveway or parking lot, the police said. “In other cases, the thieves plucked cars from the lots of dealerships after stealing the keys, the police said. They would also go after valets and sometimes shipments of cars, jumping behind the wheel while the vehicles were sitting, keys in the ignition. At their most innovative, the thieves would steal one of a pair of identical keys from a car rental company and place a GPS device in the matching car, the police said. Then they would wait for the car to be rented and track it down. “These days, many luxury cars have sophisticated security systems that make it almost impossible to drive a vehicle without its specific set of keys, the police said. That has forced car thieves with expensive tastes to become more creative. “The ring of thieves arrested in this case treated driveways, dealerships, parking lots and other locations like their personal showrooms,” Police Commissioner Raymond W. Kelly said in a statement. New York police detectives, he said, “brought these car thieves’ operation to a screeching halt.” The thefts occurred in New York City and wealthy neighborhoods in New Jersey, in Westchester County and on Long Island, the authorities said. The investigation into the thefts began in early 2012 after a tip about suspicious cars from a vehicle inspection company called the CARCO Group, the police said. (our emphasis -Ed.) Investigators then identified a shop in Queens that was providing fraudulent inspection records. From there, the police, working with the New York State Department of Motor Vehicles, the Queens district attorney and the New York State Department of Financial services, uncovered a plot.” It seems our point about a voluntary use of CARCO would be spurred by such an eventuality as this, once insurance companies realize the value of the service. We do not think the photo inspections need to be mandatory except in certain cases that could be defined by the DFS or by a group of companies. The service is quite valuable and we do endorse CARCO as an effective – obviously - anti-fraud device... In this issue we present PIA’s RAP session and urge agents to keep up with their associations since all of them have swung into gear in 2014 with excellent programs. PIA’s regional meetings are very valuable in my view and offer agents a rare occasion to meet with carriers and providers and to network in a reasonable time frame and in a good environment.
4 February 10, 2014 / INSURANCE ADVOCATE
VOLUME 125, NUMBER 3 FEBRUARY 10, 2014
EDITOR & PUBLISHER Steve Acunto 914-966-3180, x110 firstname.lastname@example.org CONTRIBUTORS Peter H. Bickford Jamie Deapo Sari Gabay-Raﬁ Michael Loguercio Lawrence N. Rogak N. Stephen Ruchman Jerome Trupin, CPCU Barry Zalma PRODUCTION & DESIGN ADVERTISING COORDINATOR Creative Director Gina Marie Balog 914-966-3180, x113 email@example.com SUBSCRIPTIONS P.O. Box 9001, Mt. Vernon, NY 10552 914-966-3180, x126 firstname.lastname@example.org PUBLISHED BY CINN Group, Inc. P.O. Box 9001, Mt. Vernon, NY 10552 (914) 966-3180 | Fax: (914) 966-3264 www.cinn.com | email@example.com President and CEO Steve Acunto
CINN G R O U P, I N C .
INSURANCE ADVOCATE® (ISSN 0020-4587) is published bi-monthly, 21 times a year, and once a month in July, August and December by CINN Worldwide, Inc., 131 Alta Avenue, Yonkers, NY 10705. Periodical postage paid at Yonkers, NY and additional mailing ofﬁces. POSTMASTER Send address changes to Insurance Advocate®, PO Box 9001, Mt. Vernon, NY 10552. Allow four weeks for completion of changes. SUBSCRIPTION RATES $59.00 US, Canada $65.00, International $110.00. TO ORDER Call 914-966-3180, fax 914-966-3264, write Insurance Advocate® PO Box 9001, Mt. Vernon, NY 10552 or visit www.Insurance-Advocate.com. INSURANCE ADVOCATE® is a registered trademark of CINN Worldwide, Inc. and is copyrighted 2013. All rights reserved. No part of this magazine may be reproduced in any form without consent. Trademark registered U.S. Patent and Trademark Ofﬁce.
For high-quality article reprints (minimum of 100), including e-prints, contact Gina Balog at firstname.lastname@example.org or call 914-966-3180, x113
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[ INSIGHT ]
By Peter H. Bickford
Budget Balancing (and Other Magic Tricks)
he State of Nirvana has come up with a painless way to not only balance its budget, but to also increase spending on new programs and capital projects and reduce taxes. Nice trick, right? How, you may ask, is this possible? Nirvana has decided to require all state domiciled insurance companies to transfer excess reserves
insurance, will release reserves totaling approximately $2 billion that are no longer required to fund future liabilities. The Enacted Budget authorizes using the released reserves over a period of four years, including $250 million for debt management in FY 2014
The NY courts supported the State’s taking of Insurance Fund assets as early as 1983, by determining that because the State Fund was a state agency and not a mutual insurance pool, policyholders had no property or contractual interest in the funds, and therefore there was no violation of the Federal or State constitutions. Peter H. Bickford
– as determined by the State – to the State treasury. “Wait a minute,” you say, “that cannot be right.” You point out the obvious: it is not the companies’ money to transfer or the State’s to take. If Nirvana considers it a borrowing instead of a taking, it has to show a liability for the debt and borrowing costs, not to mention that insurance company reserves are largely set by statute and cannot be encumbered. Most importantly, however, those funds are held for the benefit of policyholders who paid premiums to ensure that their claims or insured obligations are covered in the future. Finally, such a practice would likely bring instability to the marketplace and raise serious solvency concerns for insurers if claim payments cannot be met in the future. But the government of Nirvana says not to worry, it has all that covered, and is just expanding on the precedent so wisely set by New York over the years. Last year New York’s budget included authority to transfer funds from the New York State Insurance Fund to the general funds of the State. The official report on the enacted budget explained the move as follows: “As a by-product of the [Workers’ Compensation] reform legislation, SIF, a State agency that provides Workers’ Compensation
and $1 billion for gap-closing purposes in FY 2015.” Never mind that the principal source of reserves being released to the State was premiums charged to policyholders, primarily small businesses. Why, you may ask, are these “unnecessary” reserves being transferred to the State rather than refunded to these small business owners? Having obtained the authority for the transfers from the State Fund in 2013, it was understandably difficult to find any reference to the $1 billion of released reserves included in Governor Cuomo’s 2014-2015 budget unveiled this January. The revenue from the State Fund transfer is shown in the proposed 2014-2015 budget as a simple $1 billion one-liner with no elaboration. The press release announcing the new budget heralded going from a $10 billion deficit to a $2 billion surplus over the past several years – a surplus that could not have been possible without this taking of “unnecessary” reserves. If you think this budget strategy sounds familiar, you would be right. Consider the New York Times article, “New York’s Dangerous Insurance Policy,” reporting that: “Over the years, Governor Cuomo has repeatedly raided the fund in order to help balance state budgets. The new balance sheet
shows transfers of more than $1 billion in cash - a third of the fund’s liquid assets - to the state treasury and describes the advance as a ‘’contingent receivable,’’ meaning it can be relied on only in special circumstances. But a contrary footnote explains that with permission of the Legislature and Governor, the fund can treat it as an ‘’admitted asset,’’ implying unchallengeable value.” Before you go scurrying around to find this article, or if you are asking how you could have missed it, note that it is dated October 14, 1989 – almost 25 years ago – and the referenced Cuomo is Mario not Andrew. The NY courts supported the State’s taking of Insurance Fund assets as early as 1983, by determining that because the State Fund was a state agency and not a mutual insurance pool, policyholders had no property or contractual interest in the funds, and therefore there was no violation of the Federal or State constitutions. The original 1983 raid was “only” for $190 million, and that sum was to be paid back by 1985. The 1989 raid, however, was for an amount in excess of $1 billion. The New York Legislature prohibited further raids of the State Fund in 1996, but did not force the repayment of any prior transfers, nor did it stop the most recent raid beginning in 2013. The State Fund’s audited 2012 balance sheet (the most recent available at the time of this writing) shows the transferred sums from the 1989 and earlier raids as an admitted asset in the amount of $1.295 billion, and identified simply as a “Contingent receivable from New York State.” That “admitted asset” represents over 40% of the State Funds reported surplus, and does not include the $2 billion current round of raids! It will be interesting to see if the “release” of reserves authorized in 2013 will also be shown as a receivable from the State or simply a reduction in reserves, a transfer of assets and a source of revenue without any offsetting state obligation. But wait! If the NY legislature prohibcontinued on page 8
6 February 10, 2014 / INSURANCE ADVOCATE
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[ INSIGHT ] Cuomo#1’s first term. Also there have been other raids, including the transfer of funds from the Insurance Security Funds to the State’s general funds during the Pataki years.) Can you imagine a licensed private insurer with 40% of its reported surplus represented by an unsecured IOU from the state? Or can you imagine a State declaring reserves of licensed insurers to be excessive and requiring the excess to be transferred to the State? Nirvana can! According to the Nirvana budget footnotes (in 8-point type),
continued from page 6
ited further raids in 1996, how was the current raid possible? Simple: what the Legislature giveth the Legislature can taketh away, and the present about face was accomplished by the Legislature’s approval of the 2013 budget. (A word of caution lest one concludes that raiding insurance funds is solely a Cuomo thing: the authorization for the first State Fund raid actually predated
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approval of the budget will provide that the State will only take assets that are not needed to pay claims, or will allow IOUs for “borrowed” assets to be carried as admitted assets on insurers’ balance sheets, so there would be no change in their financial condition. Also, the state will not be paying interest on the borrowings in any event so there are no carrying costs. If a solvency concern arises in the future, the state insurance regulators can require insurers to post additional reserves or take other remedial actions. Nirvana recognizes that these actions will probably lead to increased premiums for the consumers, but not to worry. Any additional costs to the public will lead to outrage against everyone’s favorite target, the insurance companies. That outrage, however, will come long after any transfer or borrowing occurred so any attempt to reflect blame back on the budget action or to collect on any IOU will be futile. The public pays and the companies, who are used to playing the heavy, are blamed. Outrageous! Could not possibly happen! The raid of the assets of the State Fund, which the NY courts found to be a public agency, is not comparable to taking from private insurers, and state legislatures and their courts would never condone a taking of assets from private companies to solve budgetary problems in any state. But given the propensity of courts to defer to the authority of the legislature and the government – particularly in New York – is it really that far-fetched? Following the precedent of the State Fund case, is it that much of a stretch to see a court holding, for instance, that once paid as premiums, policyholders have no continuing interest in the funds whether paid to a state agency (like the State Fund) or to a private insurer serving the same function? The courts could also determine that aggrieved policyholders have no “standing to sue,” or that there are no damages until an actual default many years down the road, at which time the statute of limitations precludes a recovery. Budget gimmicks are nothing new, and are not confined to government budgets. One hopes that there would be sufficient will on the part of administrators and legislators to draw a line in the sand to prevent a state from taking funds paid by policyholders to purchase insurance. But it has already happened and now it is a matter of degree. [IA]
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[ IN THE NEWS ]
National General Holdings Corp. Acquires Renewal Rights and Assets of Tower Group’s Personal Lines Business Karfunkel Cites Advantages to Agents, Brokers
ational General Holdings Corp. (NGHC) has moved to acquire the renewal rights and assets of the personal lines insurance operations of Tower Group International, Ltd in connection with an agreement simultaneously entered into by ACP Re Ltd, a privately held Bermuda corporation, and Tower pursuant to which a subsidiary of ACP Re has agreed to acquire 100% of the outstanding stock of Tower for $3.00 per share and merge with Tower, subject to regulatory and shareholder approval. In addition, NGHC has also reached an agreement with several Tower subsidiaries to enter into, immediately upon the receipt of regulatory approval, a 100% quota share reinsurance agreement and provide a cutthrough endorsement (the “Cut Through Reinsurance Agreement”) on most of Tower’s in force personal lines policies and on new and renewal personal lines business. NGHC has also obtained a 10-day option to reinsure, on a prospective basis, not less
than 60% of the unearned premium reserve relating to Tower’s personal lines business. NGHC expects to exercise the option and to reinsure, prospectively, most of the business included in the unearned premium reserve. The Cut Through Reinsurance Agreement, when approved, will be effective as of January 1, 2014. The Company will pay a 20% ceding commission to Tower on all Tower premium subject to the Cut Through Reinsurance Agreement. Michael Karfunkel, Chairman of National general stated “I am very excited about this transaction as it will add increased product offerings to our customers, agents and brokers. This transaction will introduce homeowners and umbrella coverage into our product offerings which will allow us to bundle these coverages with our existing auto business and make our product offerings even more competitive. The transaction will also add geographic and product enhancements to our auto business. The reinsurance agree-
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ment and cut through endorsement are designed to stabilize and secure Tower’s business and allow Tower’s agents, brokers and policy holders to rely on the financial strength of National General to stand behind Tower’s new, renewal and in-force policies.” Upon the completion of the merger of Tower with an ACP Re subsidiary, NGHC expects to acquire the assets necessary to support the Personal Lines Business (the “Assets”), including several of Tower’s domestic insurance companies, the Personal Lines Business renewal rights, the systems, books and records required to effectively conduct the Personal Lines Business as well as the right to offer employment to certain Tower employees engaged in the conduct of the Personal Lines Business. The Company will acquire these Assets from ACP Re for cash in an amount equal to the statutory tangible book value of the acquired companies. The total purchase price for the Personal Lines Business is expected to be approximately $130 million. The acquired companies will be used to support Tower’s Personal Lines Business and will contain assets and surplus equivalent to the purchase price. Through a reinsurance agreement that will be fully collateralized, ACP Re will retain and run off all historical liabilities of the acquired companies. The acquisition is expected to close in the summer of 2014, pending regulatory approvals and the consummation of the merger. [IA] About National General Holdings Corp.: National General Holdings Corp. is an insurance holding company headquartered in New York, NY. It offers both personal lines property and casualty and accident and health insurance products, including personal and commercial automobile insurance and recreational vehicle, supplemental health insurance products and other niche insurance products.
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[ ON TH E LEVEL ]
By Jamie Deapo
Peace of Mind
ome 30 years ago when I was starting my new career as an independent agent I learned a concept at the time that I thought was just a gimmick to get people to buy the coverage they needed. During my training at the Aetna’s PRIME school they stressed we weren’t selling
If a consumer properly protects their home, car, family and business by working with an independent agent or broker it removes an enormous amount of responsibility and stress from their lives. They can go about their business knowing that if something happens in any of those areas
If a consumer properly protects their home, car, family and business by working with an independent agent or broker it removes an enormous amount of responsibility and stress from their lives.
Insurance we were actually selling Jamie Deapo “peace of mind”. Like I said at the time it sounded kind of foolish and designed to engage consumers with an easily understood concept. Now when I look back I see the real value of providing consumers with “peace of mind” and if used properly it can be an awesome sales tool. One of the biggest issues in today’s fast paced world is the stress associated with getting everything you need done taken care of quickly and easily. As a society we look for fast and easy ways to do everything. Our houses are filled with time saving gadgets. We are inundated with “magic” pills that will help us sleep, help us to lose weight, help us to be less anxious and on and on. With so many people searching for that “magic” pill the concept that working with an independent agent or broker can give you “peace of mind” sounds like a real deal. When you think about it that’s really what we do.
they needn’t worry because they have protection that will make them whole again. If that isn’t “peace of mind” then I don’t know what is. If they have a car accident they know their car will be either repaired or replaced and that they will be compensated for injuries to themselves and their passengers. They know any injuries or damage they are responsible for to others will be handled. That also includes being provided legal counsel to fight on their behalf in addition to ultimately paying a claim. If their house is damaged or destroyed they know they will have the money to repair or replace it putting them back where they were before the incident occurred. They also know they are protected if they injure someone or damage their property and are required to pay. If they purchase life and disability coverage for themselves and their family they know that an untimely death or disability will not seriously impact them financially and they will be able to continue the lifestyle they previously had.
Their business insurance will protect all that they have built over the years as well as protecting them from lawsuits and other unexpected business liabilities. I’d say that’s quite a lot of “peace of mind” especially when you look at the cost of the protection in relationship to what is being covered. It’s also important to buy your “peace of mind” from an independent agent or broker. They have the knowledge to assist consumers in buying the proper protection to meet their needs at a competitive price with the insurance company that best suits the consumer’s needs. The agent or broker’s thorough assessment of each consumer‘s risk and their recommendations for protection provide the real “peace of mind” that consumers want. If that’s not enough they also carry Errors & Omissions coverage that protect their clients should they make an error or fail to provide coverage as requested. Consumers who buy coverage online put themselves at a disadvantage as they don’t receive the professional and knowledgeable risk assessment and coverage recommendations provided by an independent agent or broker. Many consumers choose inadequate protection because they don’t understand their risk potential or how coverage works. Others are provided recommendations for coverage that won’t properly protect them. This actually puts them at a risk of having an uncovered loss which certainly won’t give them “peace of mind”. It’s strange but here I am 30 years after being taught to write insurance protection by presenting it as “peace of mind” coverage and I just now get it. After reading this I hope you might now appreciate using the idea of “peace of mind” coverage to get your clients and prospects to do business with you. [IA]
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March Ma rc h 4 4,, 2 2014 014 Â„ 10 Â„ 10 a.m. a .m . -12 -12 p.m. p. m . Donâ€™t Donâ€™t Confuse C o n fu s e C Contractual o n t r ac t u a l Indemnification In dem nification w with it h Additional Additional In Insured Coverage s u re d C overage Â„ .9#% " 2 # 0# 0! Â„ .*#% '% . Â„ #4#% 0# Â„ . (#% '% . 0RODUCER ) N TO DAYÂ´S CO M M ERCIAL TRA NSACTIO NS CO NTRACTS TYPICALLY CO NTAIN TWO P ROVISIO NS 4H E FIRST GE NERALLY REQ UIRES A P ARTY TO P ROC U RE INSU RA N CE FOR TH E BE N EFIT OF TH E OTH ER 4HE SECO N D GE N ERALLY REQ UIRES A P ARTY TO IN DE M NIFY TH E OTHER P ARTY 4H ESE TWO TYPES OF CO NTRACTU AL OBLIG ATIO NS ARE OFTE N CO NFUSE D B UT ARE TWO SEP ARATE CO N CEPTS 4HIS CO U RSE A D DRESSES WH AT IS CO NTRACTU AL IN DE M NIFICATIO N A N D WH AT LA N G U A GE IS N EE DE D TO IN DE M NIFY A P ARTY ) NSTRUCTORS J ulia Talarick, Esq. a n d Kare n Moriarty, Esq.
March Ma rc h 1 18, 8, 2 2014 014 Â„ 10 Â„ 10 a.m.-1 a .m .-1 p p.m. .m . E Earthquakes, arthquakes, Floods, Floods, Hurricanes, H urricanes, Nuclear N uc l e ar and a n d Ot Other her D Disasters isasters Â„ .9#% " 2 # 0! 0# Â„ .*#% '% . Â„ #4#% 0# Â„ . (#% '% . 02/ - A NY PEOPLE DO NÂ´T THIN K TH AT E ARTH Q U AKES HIT THE E AST COAST LET ALO N E NORTH ERN . EW *ERSEY $O NÂ´T TELL TH AT TO "ILL 9O U N G O U R C H APTERÂ´S $IRECTOR OF 2ESPO NSE ( EÂ´LL B E TH E FIRST TO TELL YO U TH AT M ORE N ATU RAL DISASTERS CA N OCC U R HERE TH A N YOU THIN K IN CL U DIN G H U RRICA N ES TORN A DOES A N D E ARTH Q U AKES 4HIS WEBIN AR WILL DISC USS KEY ELE M E NTS TO BETTER P REP ARE YO U SHO UL D YO U FACE SUC H A DISASTER I nstructor: Steve Lyon, CPCU, CIC, CRM, AAI, ARM, AIS
April April 1 15, 5, 2 2014 014 Â„ June Â„ Ju ne 17 17, 7, 2 2014 014 Â„Â„ 10 10 a.m.-1 a .m .-1 p p.m. .m . E&O E &O Hotspots...2014 Hotspots...2014 and an d Beyond Beyon d ^UM/FF ^UM /FF Â„ .9#% " 2 # ," # ,3" ,! 0# 0! Â„ .*#% '% . Â„ #4#% 0# Â„ . (#% 4"! *3-hour form at, get your E &O loss preve ntion & CE credit i n one 3-hour session. 4H ERE ARE M A NY ARE AS TH AT POSE A SIG NIFICA NT RISK TO A GE N CIES AS THEY TRA NSACT B USINESS TH AT IF NOT H A N DLE D CORRECTLY CA N CA USE A N % / CLAIM 4HIS 7EBIN AR WILL DISC USS HOTSPOTS TH AT A GE N CIES N EE D TO B E O N TH E LOOKOUT FOR I nstructor: Curt Pearsall, CPCU, CPIA
April April 1 16, 6, 2 2014 014 Â„Â„ 10 10 a.m.-1 a .m .-1 p p.m. .m . Understanding National Flood U n dersta n d ing tthe he N a t io n a l F lood IInsurance n s u ra n c e Program Progra m 2013 2013
Â„ .9#% " 2 # 0# 0! Â„ .*#% . &) 0 Â„ #4#% &LOOD Â„ . (#% &%- ! &LOOD 0RODUCER &% - ! P U BLISH E D MINIM U M TRAININ G A N D E D UCATIO N REQ UIRE M E NTS AS REQ UIRE D BY SECTIO N OF TH E &LOO D ) NSU RA N CE 2EFORM !CT OF FOR ALL INSU RA N CE A GE NTS WHO SELL 3TA N DARD &LOO D ) NSU RA N CE 0OLICIES ISSU E D TH RO U G H TH E . ATIO N AL &LOO D ) NSU RA N CE 0RO GRA M . &) 0 4HIS CO U RSE IN CL U DES ALL OF TH E MINIM U M TRAININ G A N D E D UCATIO N AL REQ UIRE M E NTS SET FORTH BY &% - ! I nstructor: Rita H olla d a, CIC, CPCU, CPIA
June Ju ne 26 26 and a n d 27, 27, 2014 2014 Â„Â„ 10 10 a.m.-12 a .m .-12 p p.m. .m . 2-part 2-p art W Webinar: eb i n a r : N NY YA AIP IP P Producer ro d u c e r P Procedures r o c e d u re s Â„ .9#% " 2 # 0# 0! FOR EACH PART #% TOTAL W h o i s r e q u i r e d to c o m p l e te t h e P r o d u c e r P r o c e d u r e s C o u r s e : N ewly Certified Pro d ucers !LL P RO D UCERS SEEKIN G CERTIFICATIO N IN CL U DIN G RECERTIFICATIO N FOLLOWIN G A SUSPE NSIO N OR REVOCATIO N SH ALL B E REQ UIRE D TO CO M PLETE TH E IN PERSO N 0RO D UCER 0ROCE D U RES #O U RSE D U RIN G TH EIR DAY TE M PORAR Y CERTIFICATIO N 0RO D UCERS SEEKIN G N EW CERTIFICA TIO N WILL B E ALLOWE D TO TAKE TH E O NLIN E 0RO D UCER 0ROCE D U RES #O U RSE P RO VIDIN G TH ERE IS NO IN PERSO N CO U RSE AVAILABLE WITHIN A MILE DISTA N CE OF TH E P RO D UCERÂ´S OFFICE WITHIN DAYS OF TH E DATE OF CERTIFICATIO N 7H E N TH ERE ARE MORE TH A N SU BLICE NSEES AT LE AST FIVE SU BLICE NSEES SEEKIN G CERTIFICATIO N U N DER O N E LICE NSE M UST CO M PLETE TH E 0RO D UCER 0RO CE D U RES #O U RSE !NY P RO D UCER B ECO MIN G A N A D DITIO N AL SU BLICE NSEE OF A CERTIFIE D LICE NSE M UST CO M PLETE TH E 0RO D UCER 0ROCE D U RES #O U RSE IF SUC H P RO D UCER IS NOT C U RRE NTLY CERTIFIE D U N DER A NOTH ER LICE NSE U NLESS FIVE SU BLICE NSEES U N DER TH AT LICE NSE H AVE ALRE A DY CO M PLETE D TH E 0RO D UCER 0ROCE D U RES #O U RSE !NY P RO D UCER WHO CERTIFICATIO N H AS B EE N SUSPE N DE D OR REVOKE D M UST CO M PLETE TH E IN PERSO N 0RO D UCER 0ROCE D U RES #O U RSE AS A P REREQ UISITE TO RECERTIFICATIO N I nstructor: Mishell M a g n usson, CIC, CISR, FI PC
S Sign ign up today and get ready to start earning C CE E Credit! REGISTRATION REGISTRATION $&BQQSPWFE8FCJOBSTNVTUCFUBLFOPOBOJOEJWJEVBMCBTJTUPFBSO$&DSFEJU $ &BQQSPWFE8FCJOBSTNVTUCFUBLFOPOBOJOEJWJEVBMCBTJTUPFBSO$&DSFEJU Unless U nless stated other otherwise, wise, rregistration egistration fees ar aree $25 per person, per CE cr credit edit hour GGPSNFNCFST GPSOPONFNCFSTCE PSNFNCFST GPSOPONFNCFSTCE applies only to liv livee W Webinars, eebinars, ebin NO NOT T for 8 8FCJOBST0O%FNBOE&WFSZQFSTPOXIPOFFET$&NVTUTJHOVQJOEJWJEVBMMZ FCJOBST0O%FNBOE&WFSZQFSTPOXIPOFFET$&NVTUTJHOVQJOEJWJEVBMMZ CCFBUIJTIFSPXODPNQVUFSBOEQBZUIFBQQSPQSJBUFSFHJTUSBUJPOGFF'PS$&BUFBUIJTIFSPXODPNQVUFSBOEQBZUIFBQQSPQSJBUFSFHJTUSBUJPOGFF'PS$&BUUUFOEBODFWFSJÃ«DBUJPO 1*"XJMMNPOJUPSBUUFOEBODF FOEBODFWFSJÃ«DBUJPO 1*"XJMMNPOJUPSBUUFOEBODF ^FF - This cour course se has been en appr approved roved for E&O loss prevention prevention credit credit by Fireman's F iireman's Fund. ^UM - This course courrse s has been approved approved for E&O O loss pr prerevention cr credit redit e by Utica Mutual. M
WEBINAR CAN WEBINAR CANCELLATION CELLATION P POLICY OLICY Noo cancellations, as rregistrants N egistrants will automatically get the P PIA IA W Webinar eebinar O On n %FNBOESFQMBZ"UUFOEBODFEVSJOHMJWFQSFTFOUBUJPOJTSFRVJSFEGPS$&DSFEJU JG % FNBOESFQMBZ"UUFOEBODFEVSJOHMJWFQSFTFOUBUJPOJTSFRVJSFEGPS$&DSFEJU JG BBQQMJDBCMF5PBDDPNNPEBUFUIJTDPOEJUJPO 1*"T8FCJOBSTDBOCFBDDFTTFEGSPN QQMJDBCMF5PBDDPNNPEBUFUIJTDPOEJUJPO 1*"T8FCJOBSTDBOCFBDDFTTFEGSPN BBOZDPNQVUFSJOBOPÃ¯DFPSBUIPNFJGOFFEFE1MFBTFDBMM JG OZDPNQVUFSJOBOPÃ¯DFPSBUIPNFJGOFFEFE1MFBTFDBMM JG ZZPVOFFEBTTJTUBODF PVOFFEBTTJTUBODF LIVE WEBINARS ARE ADDED ALL THE TIME! GET G ET MORE INFO AND REGISTER ONLINE JUST SCAN SCAN QR QR CODE FOR MORE MORE INFO INFO
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INA 2-3-14_INA 2-10-14 2/24/14 5:34 PM Page 15
4th Annual CE Marathon
YOU FINISH LINE.
April 2-3, 2 3, 2014 PIA HQ, Glenmo Glenmont 15 NYCE
Insurance experts Steven D Lyon, CPCU, CIC, CRM, AAI, ARM, CRIS, AIS & Mishell Magnusson, CIC, CISR, AAI, FIPC, CPIA bring their expertise to the Capital Region!
CGL Issues & Answers - Getting it right