PIA Connection—A Look Ahead at 2022

PIA Advocacy Update: 2022 Issues of Focus

PIA CONNECTION 2022 V1

2022 A LOOK AHEAD page 10

PIA MEMBER BENEFIT SPOTLIGHT:

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2022 V1

PIA CONNECTION NATIONAL ASSOCIATION OF PROFESSIONAL INSURANCE AGENTS PRESIDENT Anthony Curti, CIC, LIC (MI) tcurti@acrisure.com PRESIDENT-ELECT Gerald F. Hemphill, CIC, LUTCF (VA/DC) ghemphill@gfhinsurance.com VICE PRESIDENT/TREASURER Richard A. Savino, CIC, CPIA richs@broadfieldinsurance.com SECRETARY/ASSISTANT TREASURER Ariel Rivera, CIC (PR) ariel@deerinsurance.com IMMEDIATE PAST PRESIDENT Wayne F. White, CPA, CPIA, PFMM (AR) wwhite1948@aol.com EXECUTIVE VICE PRESIDENT/CEO Mike Becker (PIA National) mbecker@pianational.org PUBLISHER/EDITOR-IN-CHIEF Ted Besesparis | tbesesparis@pianational.org MANAGING EDITOR Sade Hale | shale@pianational.org ADVERTISING DIRECTOR Robert Holt, CLU, ChFC, CASL | rholt@pianational.org GOVERNMENT AFFAIRS EDITOR Jon Gentile | jgentile@pianational.org REGULATORY AFFAIRS EDITOR Lauren Pachman, Esq. | lpachman@pianational.org MARKETING EDITOR Madeleine Stern | mstern@pianational.org CONTRIBUTING EDITOR Patricia A. Borowski, CPIW PRODUCTION EDITOR Laurel Prucha Moran | laurelpm@blueroomstudio.com January 2022 PIA Connection is published ten times yearly by the National Association of Professional Insurance Agents.

419 North Lee Street Alexandria, Virginia 22314 ©2022 All rights reserved.

The information in this publication is general in nature and is not intended to serve as legal, accounting, financial, insurance, investment advisory or other professional advice as to any reader’s particular situation. Users are encouraged to consult with competent legal, financial, insurance, investment advisory and or other professional advisors concerning specific matters before making any decisions and we disclaim any responsibility for any decisions or actions by readers.

All PIA members receive PIA Connection at the member subscription rate of $12.00 per year.

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CONTENTS NEWS BRIEF 6-7 Many Home Insurance Premiums Rising Faster Than Inflation…Big Increase in Cybercrimes…P&C Rate Increases Slow to 5.8 Percent in Q4…MarshBerry: M&As Up, Flat for IAs…NAIC Announces Committee Chairs…NAIC Forms New Committee on Cybersecurity, Technology…

Networking Group Looks to Expand.

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PIA ADVOCACY UPDATE: 2022 ISSUES OF FOCUS Jon Gentile, PIA VP of Government Relations, with a briefing on each of the top issues of focus for PIA in 2022.

COVER STORY A LOOK AHEAD AT 2022 How are COVID-19, flooding and other factors are shaping the industry’s future? A conversation with PIA CEO Mike Becker AGENCY OWNERS: WHAT’S YOUR FINANCIAL ENDGAME? Columnist Kevin Callahan discusses why agency principals should always be enhancing the value of their business and speaks with legendary expert on the proper valuation of agencies, Al Diamond.

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AGENT COMPENSATION DISCLOSURES AND THE NO SURPRISES ACT 15 Counsel and Director of Regulatory Affairs for PIA Lauren G. Pachman, Esq. looks at new requirements for agents in the new legislation.

BE INDEPENDENT AND THE AGENT EXPERIENCE Two PIA programs help members market their agencies and master the digital experience.

16-17

DEPARTMENTS From the President . . . . . . . . . . . . . . . . . . 5 From the CEO . . . . . . . . . . . . . . . . . . . . 5 PIA National Member Benefits . . . . . . . . . . . 20 PIA Member Benefit Spotlight . . . . . . . . . . . 21 PIA Connection Marketplace . . . . . . . . . . . . 21 PIA Affiliate Listings . . . . . . . . . . . . . . . . 22

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PIA CONNECTION | of www.pianational.org For additional information on any the subjects addressed in this publication, please access the PIA National website at www.pianational.org.

Cover image: iStockphoto

2022 V1 | 3

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FROM THE PRESIDENT ONE OF THE MAJOR CONCERNS OF AGENCY principals is the ongoing need to recruit talent. Many new initiatives have been launched in recent years to entice talented individuals to consider employment opportunities in the independent agent distribution system.

I entered college knowing that the insurance industry was my chosen profession. For so many others, the transition to a career in the insurance and risk management field was something that just happened. Whether mentored, strategically introduced or just by accident, the talent ranks enter our industry in many ways.

Looking beyond the traditional recruiting models, apprenticeship programs may be a great way to help create the next generation of capacity we need.

The very successful Chicago Apprentice Program started in 2017 has had over 1,000 apprenticeships granted by 50 companies across multiple industries. A few of the founding companies included Aon and Zurich North America. Significant organizations in our industry, they are forward-thinking as it related to fostering diversity and attracting new people to the insurance business.

Looking beyond the traditional college graduates, this programprovides a “earn-and-learn” format coupled with a structured formal learning track. The result is a high-quality career route with opportunities to advance. This is a win-win

for all who participate! (chicagoapprenticenetwork.org) Closer to home, a new effort was launched that again utilizes apprenticeships. Blue Cross Blue Shield of Michigan and Grand Rapids Community College plan to launch a paid apprenticeship program for high school graduates to access careers within the employee benefits and health sectors.

The program is rigorous, requiring 430 hours of active learning. The goal is for students to see this career path as an interesting and financially rewarding opportunity for their future and build “a qualified pool of licensed individuals who may begin to become agents within the next 14 to 24 months and even own their own agencies someday,” says Jeff Connolly, senior vice president and president, West Michigan and Upper Peninsula, at Blue Cross Blue Shield of Michigan.

Critical to the continuing success of our agencies is the ability to attract talent. It is heartening to see innovative approaches being devised to meet that need.

Tony Curti President

FROM THE CEO INDEPENDENT AGENTS RELY ON BUILDING relationships of trust with their clients. Traditionally, that occurred primarily through in-person interactions. But in the 2020s, not maximizing digital engagement can lead to missed opportunities.

So how do agents develop personal relationships with clients in an online environment?

For almost two years, businesses have experienced a crash course in new ways of doing business, of necessity, due to the ongoing coronavirus crisis. But changes the crisis accelerated were already underway.

Years ago, the options for interaction between independent agents and clients were fewer, simpler and focused primarily on in-person, face to face contact.

For some, that is still their preference. But in today’s marketplace, digital strategies that businesses can use to provide a quality experience have expanded to include many additional tools. These include everything from sophisticated websites, geofencing, and cloud-based programs, to artificial intelligence

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and virtual assistants. The options are almost limitless.

You have to meet people where they want to be met.

Some clients may be comfortable with more in-person contact.

Others appreciate the efficiency of online transactions, but still want to hear a helpful, friendly voice. Empathy and problem solving are important to them, especially in times of stress. But increasingly, more customers prefer doing more digitally.

PIA has a number of resources to help agents understand and adopt digital technologies including The PIA Partnership’s Winning@Virtual. This 3-part toolkit will help you make the most of today’s digital technologies. Visit WinningAtVirtual. com for more information.

Mike Becker CEO

2022 V1 | 5

NEWS BRIEF

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!

MANY HOME INSURANCE PREMIUMS ARE RISING FASTER THAN INFLATION Homeowners renewing their home insurance policies are finding that premiums are on the rise.

According to the Insurance Information Institute (III), a nonprofit organization known as Triple-I that provides information on the insurance industry, several factors have pushed home insurance premiums up by an average of four percent to $1,398.

Dale Porfilio, Triple-I’s Chief Insurance Officer, expects rates will remain high, and could go even higher. The cost of insuring a home can be

P&C RATE INCREASES SLOW TO 5.8 PERCENT IN Q4

MARSHBERRY: M&AS UP, FLAT FOR IAS

MarketScout’s composite

sitions hit a fifth straight

price index shows that

record year in the insurance

property and casualty

distribution sector, with 798

rates in the United States

transactions announced

increased by an aggre-

as of Jan. 3, 2022, a 12.2

gate 5.8 percent in the

percent increase compared

fourth quarter of 2021.

with the 2020 announced

That is down from a 6.8

deal total of 711, financial

percent rate increase in

analysts at MarshBerry Inc.

In 2021, mergers and acqui-

the previous quarter. The

said.

firm reports umbrella,

Private-capital-backed

directors and officers

buyers accounted for 591

liability, and commer-

of the 798 transactions,

cial property lines had

74.1 percent, and continue

increases of 11, 10.3, and

to expand their presence

8.3 percent, respectively.

in the marketplace, with

Workers’ compensation

total deals by these buyers

reported no increase

increasing at a compound

during the last quarter of

annual growth rate of 14.8

2021. Meanwhile, fidu-

percent since 2018.

ciary, crime, and surety saw rate increases below 2 percent.

Independent agencies, meanwhile, accounted for 100 deals, or 12.5 percent of

Business owner policies

the total deal count. While

had the same or lower

this proportion is consistent

was destroyed or damaged, and costs of build-

increase in the fourth

with 2020, this portion of

ing materials. Experts also point out that climate

quarter compared to

the total announced trans-

change has caused rates to increase. Despite

the third quarter. Small

actions has seen an overall

these increases, experts say regulators are keep-

and medium accounts

decline from the 2015-2020

ing rate increases in check.

mostly saw rate gains at

affected by location, if it was built to withstand natural disasters, the cost of rebuilding after it

READ: Many Home Insurance Premiums Outpace Inflation

or above 5 percent. Large and jumbo accounts saw increases of 6.7 percent.

average of 23.2 percent of deals done by independent agencies.

“From everything I know about homeowners’

Finally, medium accounts

risk, I expected those numbers to be higher,” said

saw rates moderate after

NAIC ANNOUNCES COMMITTEE CHAIRS

Porfilio. “Honestly, I would say they still should go

increasing by 7.3 percent

up further.”

The National Association

in the third quarter of

of Insurance Commission-

2021.

ers (NAIC) has named its

6 | 2022 V1

www.pianational.org | PIA CONNECTION

!

NEWS BRIEF 2022 committee chairs and

called “letter committee”

vice chairs. The Association

created since 2004, the H

BIG INCREASE IN CYBERCRIMES

also assigned members to

Committee will be focus

Cybercrimes have increased significantly over the last

the organization’s stand-

on providing a forum for

year.

ing committees, as well as

state insurance regulators

announced the names of its

to learn about and discuss

2022 task force chairs and

cybersecurity, innovation,

vice chairs.

data security and privacy

“I’m excited about this year’s committee assign-

protections, and emerging technology issues.

A recently released IBM study showed that the average cost of a data breach for organizations with fewer than 500 employees was almost $3 million per incident in 2021. The Anti-Phishing Working Group, a global industry, law enforcement and government coalition, found that the number of phishing attacks has doubled

ments,” said NAIC Presi-

“It’s a critical responsibil-

since early 2020. And approximately 60 percent of small

dent and Idaho Insurance

ity for our membership

businesses that suffer a cyberattack go out of business

Director, Dean L. Cameron.

to ensure that consumer

within six months of being hacked, the coalition reports.

“I look forward to working

data is protected, and It

with my talented col-

is properly applied,” said

leagues as we advance the

David Altmaier, NAIC Presi-

United States in what is a

London. He said with the

work of the NAIC.”

dent and Florida Insurance

first step in their expansion

successful launch of Link

Commissioner. “This new

outside of the UK, forming

in LA, the group is now

committee is a continuation

a chapter in Los Angeles on

looking to the East Coast of

of our consumer protection

December 1, 2021. Link was

the U.S. “to make the most

efforts, including its focus

established 10 years ago in

of the momentum and buzz

on data privacy and cyber-

London, with a mission to

that has been created.”

security considerations.”

make the insurance indus-

NAIC FORMS NEW COMMITTEE ON CYBERSECURITY, TECHNOLOGY The NAIC voted to form a new Innovation, Cybersecurity, and Technology (H) Committee to address the Insurance implications

try the employer of choice

LINK NETWORKING GROUP LOOKS TO EXPAND

of emerging technologies

The LGBTQ+ Insurance

and cybersecurity. As the

Network “Link” has

first new high level so-

expanded its reach to the

for the LGBTQ+ community. “Insurance, and the LGBTQ+ community, is global in nature,” said Link Chair Maurice Rose, Senior Manager, Insurance Risk and Regulation at PwC in

Erik Johnson, who leads the Inclusion@Lloyd’s Partner Network initiative said, “Link is spearheading the work to create global communities to ensure that the insurance industry attracts and retain the best talent.”

Frank and Ernest is used with the permission of the Thaves and the Cartoonist Group. All rights reserved.

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CAPITOL HILL UPDATE

By Jon Gentile Vice President, Government Relations PIA National

PIA ADVOCACY UPDATE: 2022 ISSUES OF FOCUS THE PIA GOVERNMENT Relations staff has reviewed

PIA’s past policy positions and Congress’s current priorities, and, in consultation with PIA members across the country, we have developed these 2022 Issues of Focus. While the items below are our top priorities for 2022, PIA is always working to promote the interests of our independent agent members, wherever those interests take us.

Updated information on these and other PIA focus issues are available on the PIA National website at: https://www.pianational.org/issues Flood Insurance: PIA supports the long-term reauthorization of the National Flood Insurance Program (NFIP). In the last Congress, PIA endorsed a legislative package that unanimously passed the House Financial Services Committee but stalled afterward and ultimately did not receive consideration by the full House or Senate.

This year, PIA is encouraging the House Financial Services Committee to use that package as the starting point for this Congress’s efforts to provide the NFIP with a long-term reauthorization. The NFIP was most recently reauthorized in December 2021 for a period of several weeks, and the program faces another prospective lapse on February 18, 2022 if Congress does not act.

PIA will seek Congressional action to prevent a lapse, but we will also advocate for Congress to pass a long-term reauthorization of the NFIP that includes key reforms and recognizes the essential role independent agents play in delivering the program to consumers.

For more details on PIA and flood insurance, visit the Flood Insurance section of the PIA Issues of Focus webpage.

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Cannabis Safe Harbor: PIA strongly supports the Secure And Fair Enforcement (SAFE) Banking Act (H.R. 1996/S. 910), which would protect insurance agents and carriers from federal criminal liability for engaging in the business of insurance with cannabis-related entities in states where cannabis is legal.

Initially conceived as a banking-specific bill, the SAFE Banking Act has been reintroduced in this Congress with several essential new insurance provisions meant to protect agents, brokers, and insurers.

PIA views its position as respectful of state insurance laws; PIA and its members seek to protect independent agents from criminal liability for engaging in business activities that are legal pursuant to state law. PIA will advocate for Congress to include insurance agent protections in any cannabis safe harbor legislation it considers.

For more details on PIA and cannabis safe harbor, visit the Cannabis Safe Harbor section of the PIA Issues of Focus webpage.

Tax Issues: PIA supports the Main Street Tax Certainty Act (H.R. 1381/S. 480), which would make permanent the 20 percent tax deduction available to some S corporations, also known as passthrough corporations. Following the passage of the 2017 tax reform law, which established a deduction of up to 20 percent for “agents,” PIA successfully advocated for insurance agents to be identified in regulation as eligible for the deduction. Since then, eligible independent agencies have used this deduction to strengthen their businesses and provide for their families, despite an unprecedented economic downturn brought on by the pandemic.

Unfortunately, in contrast to the tax benefits provided to C corporations by the 2017 law, which are permanent,

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iStockphoto

the passthrough deduction is temporary. The tax deduction for passthroughs will expire on December 31, 2025, unless Congress acts to extend it. PIA will ask Congress to provide certainty and consistency to eligible independent agencies by making permanent this important tax relief provision.

PIA has also been working to protect agents from new tax liabilities contained in proposals being considered in the budget reconciliation spending package, named “Build Back Better” by its proponents. We will continue to voice our opposition to the imposition of onerous new tax burdens on small businesses as the reconciliation process continues.

For more details on PIA and tax issues, visit the Tax section of the PIA Issues of Focus webpage.

Crop Insurance: Presidents of both parties have historically tried to cut crop insurance funding using the budget and appropriations process. Along with industry allies, PIA has aggressively worked to protect the crop insurance program from such cuts.

Our advocacy paid off last year, when, in a victory for our crop insurance agent members, the budget released by the White House sought $27.8 billion for the Agriculture Department—which represented a 16 percent increase—and, importantly for PIA’s crop insurance agents, included no cuts to the crop insurance program. This victory was especially welcome because billions of dollars in cuts to crop insurance have been included in presidential budget requests for most of the last decade.

This year, PIA will again advocate to protect the crop insurance program. In addition, with the Farm Bill up for reauthorization at the end of 2023, PIA will continue its work to ensure policymakers understand the critical role PIA’s independent agent members play in delivering this vital PIA CONNECTION | www.pianational.org

program to consumers.

For more details on PIA and crop insurance, visit the Crop Insurance section of the PIA Issues of Focus webpage.

Repeal of the Federal Insurance Office (FIO): PIA supports legislation to repeal the Federal Insurance Office (FIO) (S. 524/H.R. 4866). The FIO was created by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act and is an ongoing threat to the successful state insurance regulatory system.

The mandate of the FIO has already been expanded by the Biden administration’s Executive Order (EO) on ClimateRelated Financial Risk, which directed the Treasury Secretary to task the FIO with assessing “climate-related issues or gaps in the supervision and regulation of insurers.” More recently, ostensibly in response to the EO, the Treasury Secretary issued a Request for Information on the Insurance Sector and Climate-Related Financial Risks, and PIA registered its objections to this increase in the scope of the FIO’s mandate.

To prevent the continued expansion of the FIO’s power and scope, and to prevent its further encroachment on the authority of states to regulate the business of insurance, the FIO must be fully repealed. We will continue to encourage support for the FIO repeal legislation in both chambers.

For more details on PIA and the FIO, visit the FIO section of the PIA Issues of Focus webpage.

Access the Issues of Focus here: https://www.pianational.org/issues Additional detail on all of PIA’s focus issues is also available on the PIA Advocacy Blog at: https://piaadvocacy.com/ Jon Gentile is vice president of government relations for PIA National.

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A LOOK AHEAD AT 2022

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How COVID-19, flooding and other factors are shaping the industry’s future. A conversation with PIA CEO Mike Becker.

By Ted Besesparis Senior Vice President, Communications, PIA National

THE LAST TWO YEARS HAVE HAD A PROFOUND effect on the insurance industry. COVID-19, dramatic storms, flooding and other natural disasters, and an increase in cyberattacks have all played a part in shaping the insurance industry.

As 2022 begins, what is in the industry’s future?

To help answer this question, PIA Connection asked PIA National’s Executive Vice President & CEO Mike Becker to discuss the current trends, and how agents need to adapt to be ready for what is next.

The effects of COVID-19 on the insurance industry have been well documented (e.g., the businessinterruption claims, the lawsuits, changes to insurance coverages), but are there other effects that haven’t been discussed yet?

MIKE BECKER: There has been a massive acceleration in the adoption of remote work and technology.

While some agencies and carriers had been ahead the curve and implementing these kind of changes for years, COVID-19 forced the hand of many businesses.

While we’re

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navigating through this new normal, the dust still is settling.

Agency owners will need to be mindful of office culture, and the impact of creating two cultures: in-office staff and remote staff.

On the technology front, this rapid adoption will help agencies expand their tool kits and enable them to better meet the demand and expectations of today’s customer.

Although there’s a risk to team culture if you totally eliminate in-office work, the fact remains that remote work is here to stay. Going forward, “COVID-19 HAS some level of remote work REMINDED ALL OF US will be a permanent feature to IN THE INDUSTRY THAT retain valued staff and attract THE UNEXPECTED CAN top talent. The change in how AND DOES HAPPEN.” we work already is underway.

Agents need to master that change and manage it to their best advantage.

What are the lessons COVID-19 has taught insurance industry? How do independent agents need to continue to evolve to be ready for the next big event/disaster/pandemic?

MIKE BECKER: One of the main lessons for independent agents is a confirmation: Agents are resilient. Agents should prepare their own contingency plans to deal with disasters— both by lining up coverages to offer their clients, and providing them with risk management advice, and by developing a disaster plan to prepare their agencies to continue operations.

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COVID-19 has reminded all of us in the industry that the unexpected can and does happen, and we increase our chances for success when we prepare.

COVID-19 has been at the top of people’s minds for almost two years, what else is affecting the insurance industry? How is the industry evolving because of these changes?

Cyber: S&P Global Ratings published a report that stated the pandemic caused economic and insured losses from cyberattacks to skyrocket, which has heightened awareness of the risk and increased demand for cyber security insurance and reinsurance. Cyber insurance prices, “could therefore rise sharply over 2021-2023, even “RISK DOES NOT STAY doubling in some cases,” said STATIC YEAR AFTER an S&P analyst.

YEAR, IT EVOLVES AND Flooding: The increase IS BECOMING MORE in recent years in the numDANGEROUS.” ber, frequency and severity of natural disasters involving flooding points out the need for long-term renewal and reform of the National Flood Insurance Program. The move toward more risk-based pricing, Risk Rating 2.0, is underway. At the same time, a nascent private flood insurance market continues to develop, a process that will take years before beginning to have a measurable impact.

What are some of the newer trends that are surfacing? How is the insurance industry responding to them?

MIKE BECKER: A decade ago, cyber security insurance was primarily a futuristic concept. Since then, the market has developed and matured rapidly in recent years as demand for cyber insurance coverage has soared.

Recently, Aon’s Impact Forecasting team observed that some of the largest catastrophe-loss events this year have shown new, changed patterns that made them more “THE CHANGE IN HOW destructive and costly. For WE WORK ALREADY IS example, Hurricane Ida was several storms, not just one.

UNDERWAY. AGENTS And it did not behave like NEED TO MASTER THAT most hurricanes.

CHANGE AND MANAGE Aon notes that Ida was IT TO THEIR BEST just the latest tropical cyclone ADVANTAGE.” to “show behavioral change prior to making landfall and after coming ashore.” It strengthened, then came ashore in Louisiana with widespread destruction, and then “slow motion and remnant moisture

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would later spawn record rainfall and subsequent flooding” in the Northeast, particularly New York City.

Ida served as another example of the critical need to invest in infrastructure modernization. It’s fortunate that the recent federal legislation providing for infrastructure investments was approved, because it comes as the risks of more extreme weather to both coastal and inland properties are rapidly increasing.

How are global changes affecting the insurance industry in the U.S.?

MIKE BECKER: We’re coming to the realization that while all risk is local, the source and trajectory of that risk does not respect borders. Risk does not stay static year after year, it evolves and is becoming more dangerous. This poses a big challenge for the insurance industry.

The small businesses that often are targeted by cyberattacks are local, but the source of such attacks knows no boundaries, multiplying the risk.

Another example: coverage issues related to the pandemic may be specific to geographic areas, but the spread of the disease is global. The United States could mostly tame COVID-19, only to have a new strain that developed on another continent make its way here.

These trends have implications for the development of insurance products by carriers and the coverages recommended by independent agents.

What were some of PIA’s most important legislative victories in 2021, and what remains to be accomplished in 2022?

MIKE BECKER: A new Congress was seated early in 2021, initiating a reset of all federal bills. Early in the year, PIA focused on having legislation reintroduced and moving our issues forward. 2021 began on the heels of major PIA victories in the December 2020 COVID-19 relief package, including the creation of a streamlined forgiveness process for Paycheck Protection Program loans.

In 2021, PIA legislative victories included: • Passage in March of the COVID-19 relief package, which included the PIA-supported $7 billion of additional funding for the PPP and $15 billion for the Economic Injury Disaster Loan program.

• Passage in March of the PPP Extension Act, which delayed the PPP application deadline by several months to give small businesses more time to apply for PPP loans and the Small Business Administration more time to resolve problems with the program and integrate applicable regulatory guidance.

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2022 V1 | 11

PIA’s Member Benefits Keep Growing In 2021, PIA helped agents get back to business by creating programs to bridge physical divides and assist agents in navigating the digital landscape.

The one thing we know is digital relationships aren’t going anywhere, and we can always improve on the way we connect in cyberspace.

2021 NEWEST PIA MEMBER BENEFITS PIA Virtual Coffee Break Informal meet up for PIA members to connect, seek advice, and discuss insurance news.

PIA Partnership Winning@Virtual A 3-part toolkit to assess virtual readiness and make the most of today’s digital solutions

Practical information and resources to develop and grow customer relationships online Be Independent Campaign A social media campaign agents can use to educate the insurance-buying public about the value of working with an independent insurance agent over a direct writer

2021 PIA ADVOCACY VICTORIES

FLOOD

National Flood Insurance Program (NFIP) Extension PIA successfully advocated for the NFIP’s extension in advance of each of its 2021 expiration dates.

Defeat of Harmful Provisions of Late 2021 Reconciliation Package As originally proposed, the second 2021 reconciliation package would have hindered the businesses of independent agents.

The PIA advocacy team successfully defeated proposals like: • A provision that would have permitted federal oversight of state workers’ compensation programs.

• A proposal that would have imposed a broad new tax information reporting regime on small businesses.

• A proposal that would have raised individual and corporate taxes and increased the capital gains tax.

• A provision that would have repealed the 20-percent tax deduction for qualified business income of qualifying pass-through businesses (S corporations), which was established by the 2017 tax reform law.

Advocacy on COVID-19 Related Issues PIA successfully advocated for public policies that provided relief to small businesses struggling due to COVID-19, including: • Creation of the Paycheck Protection Program (PPP) and its second-loan draw opportunity, the establishment of a streamlined loan forgiveness process for some PPP borrowers, and the protection of PPP borrowers from a surprise tax on their loan proceeds.

• Protection of businesses against the retroactive rewriting of existing agreements to impose extracontractual liability on those businesses for losses resulting from business interruptions.

• Leadership of agent community in the development of policy solutions to protect businesses from future pandemic losses.

PIA works for you. Stay tuned for more on the way!

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| PIA CONNECTION

A LOOK AHEAD CONTINUED FROM PAGE 11

Final thoughts?

P I NN

MIKE BECKER: Tech is our future—computers, tablets, webcams, messaging programs, etc. The customer relationship of the future will rely on both human interaction and technology.

Just as it is possible for independent agents to develop personal “TECH IS OUR FUTURE—THE relationships with their CUSTOMER RELATIONSHIP clients online, it also OF THE FUTURE WILL RELY ON is possible to foster BOTH HUMAN INTERACTION creative collaboration AND TECHNOLOGY.” with remote employees. Remote work and the related digital tools are just that—tools. They should be used to broaden abilities and efficiencies, but they shouldn’t replace the in-person experience entirely.

The COVID-19 crisis has meant that PIA has devised many new ways— and created many new programs— to provide even more assistance to PIA members and their agencies than ever before.

Finally, PIA continues to rack up legislative and regulatory wins and pursue our agenda at the National Association of Insurance Commissioners, and we are doing great work for PIA members with our carrier partners through The PIA Partnership.

AC

L E PAR ER

PIA CONNECTION | www.pianational.org

insurance agents are not earning 30% commission for selling NFIP policies.”

TN

• In April, the U.S. House passed the SAFE Banking Act—a PIA legislative top priority—which would protect insurance agents and carriers from federal prosecution for doing business with cannabis-related enterprises in states in which such businesses are legal. The SAFE Banking Act passed the U.S. House again in September as part of the National Defense Authorization Act, but has since stalled in the U.S. Senate.

• In May, the Biden administration released its budget request for Fiscal Year 2022. For the first time in almost a decade, the presidential budget request did not include cuts to the Department of Agriculture’s federal crop insurance program, the protection of which is a longstanding PIA top priority.

• In July, as a direct result of the hard work of members who participated in PIA’s 2021 Advocacy Day, legislation to fully repeal the Federal Insurance Office was introduced in the U.S. House. The bill has since been reintroduced in the U.S. Senate.

• Throughout the summer, PIA advocated to prevent the lapse of the NFIP, and PIA succeeded in persuading Congress to reauthorize the NFIP on a short-term basis.

In 2022, PIA will continue to advocate for a long-term reauthorization of the NFIP and build support for the Main Street Tax Certainty Act of 2021, which would make permanent the 20% tax deduction presently available to passthrough entities via the tax reform law passed at the end of 2017.

In addition, the federal crop insurance program likely will be reexamined when Congress next considers reauthorizing the farm bill in December 2023. Until then, PIA will continue to educate policymakers about the important role PIA member agents play in delivering crop insurance to consumers.

Finally, considering the Biden administration’s recent actions to enlarge the power of the FIO to authorize it to collect climate-related insurance data, PIA will continue to accumulate support for legislation to repeal the FIO. As a part of its advocacy, there are occasions when PIA issues statements correcting misstatements on insurance-related topics, including the following: Agents’ commissions on flood policies. Earlier in 2021, PIA corrected an assertion made by the director of federal affairs for New York City, who incorrectly testified before the U.S. Senate Banking Committee that flood insurance agents receive a 30% commission on NFIP policies. PIA issued a statement debunking this. “That is just not true,” said PIA National Vice President of Government Relations Jon Gentile. “Independent

Encompass Insurance Erie Insurance State Auto Insurance Companies

2022 V1 | 13

$

AGENCY MARKETING

By Kevin Callahan

AGENCY OWNERS:

WHAT’S YOUR FINANCIAL ENDGAME? Even if it’s going to be decades before you consider selling, agency principals should always be enhancing the value of their business—and carefully consider their exit options when it comes time. (Part 2) ONCE THEY MAKE THE decision to retire, insurance agency principals looking to ensure their financial well-being have two choices: sell their agency to an outside party, or perpetuate it by selling within the organization.

An agency’s value is often talked about in terms of multiples of annual revenue—and the multiple of revenue that most buyers/acquirers will pay is largely a function of three key statistics: the agency’s profit margin, annual cash flow, and revenue growth rate. In order to ensure the value of their agency, principals need to focus on continually enhancing their profitability to achieve higher levels of annual revenue growth.

When you decide it’s time to hang up your spurs, the best timeline for a profitable, thoughtfully planned exit is two years, from the start of your analysis to inking the final deal. This also allows you adequate time to clean up your balance sheet (as I mentioned in Part 1 of this column) and determine your agency’s tangible net worth.

Keep in mind that the value of any business is its future earnings potential

14 | 2022 V1

for the party that’s doing the valuation.

According to Al Diamond, President of Agency Consulting Group Inc. in Cherry Hill, N.J., and a longstanding expert on valuating insurance agencies, valuations of your agency can vary depending on who’s conducting the analysis. Various potential sellers all have different expenses and revenue flows—and different plans in mind for what they’ll do with the asset once they acquire it.

AGENCY VALUATIONS “It never shocks me to see an agency with five different suitors and five very different values,” Diamond told me. “Each one of them is built on the cash flow potential for that particular buyer.”

If a suitor is only interested in your client base, they may offer you a very attractive price in cash—but they may plan to close your office, let go of some of your people and make a lot more profit on your agency’s book than you could, because those overhead and staff costs have been eliminated.

Alternatively, the person who would succeed you in an internal sale could very well plan to run the agency the way it currently operates. If that’s the case, then you can calculate the agency’s fair market value based on existing trended revenues and expenses. For this reason, the cashflow analysis for an internal buyout is often less than the cash-flow analysis in an “external” sale.

Diamond noted that one benefit of an internal sale is that if you negotiate properly, you can arrange for a much longer payout and accept smaller

payments over an extended period of time, as opposed to a larger sum received up front in an external sale.

The extended payout period makes it easier for an internal successor to afford the payments with the agency’s cashflow. It also provides interest payments to the seller that increases his or her overall return.

There’s also the small matter of the taxes you’ll incur. “You’re going to get less by selling outside your firm than selling inside because an outside sale most likely will be an asset sale,” said Diamond. “They’re buying your assets from your corporation. And you’re going to pay not only capital gains tax but greater income tax on the revenue that you generated. An internal sale is often a stock sale, and all you’re responsible for as the seller is the capital gains tax.”

PLAN WELL IN ADVANCE In the end, the best decisions around setting yourself up for retirement are those that are carefully considered, and not rushed. Diamond said that in his experience, those types of hastened decisions are unfortunately made quite frequently, often to the agency principal’s detriment.

Agency owners should not wait until six months before they decide to exit to start considering their endgame, nor should they ever put off concentrating on increasing their agency’s value—a practice that will pay dividends throughout their career.

Kevin Callahan (kcallahan@renaissanceins. com) is Chairman and CEO of Renaissance Alliance.

www.pianational.org | PIA CONNECTION

PIA LEGAL ANALYSIS

By Lauren G. Pachman, Esq.

AGENT COMPENSATION DISCLOSURES AND THE NO SURPRISES ACT Rules for New Requirements Being Developed THE “NO SURPRISES” ACT was passed as part of the Consolidated Appropriations Act (CAA) of 2021 last year, and it was meant to reduce the effect and frequency of surprise medical bills on people with health insurance.

No Surprises targets a variety of billing issues, including the direct and indirect compensation of agents/brokers involved in the sale of individual health insurance coverage, group health insurance, and short-term, limited-duration insurance (STLDI), all of which are now subject to new legal disclosure requirements.

Specifically, the CAA requires issuers of group health insurance plans, individual health insurance coverage, and STLDI, to inform policyholders of any direct or indirect agent/broker compensation paid in connection with enrolling them in those plans.

No Surprises also requires issuers to include disclosures of any direct or indirect compensation paid to agents/ brokers in the process of selling individual or STLDI coverages in the annual reports issuers provide to the Department of Health and Human Services (HHS).

The CAA establishes the effective date of the disclosure and reporting requirements as Dec. 27, 2021 (one year after the CAA’s passage), for applicable health insurance contracts executed on or after that date. Last year, HHS issued a Notice of Proposed Rulemaking (NPRM) to provide PIA CONNECTION | www.pianational.org

additional regulatory guidance on the No Surprises requirements – but HHS has not yet issued a final rule governing the disclosure of agent/broker compensation paid to agents/brokers involved in selling individual health insurance or STLDI coverages, even though the statutory language of No Surprises itself directs HHS to issue such a rule by year-end 2021.

On Dec. 30, to address the No Surprises disclosure requirements applicable to group health plan issuers and agents/brokers involved in their sales, the Department of Labor (DOL) issued Field Assistance Bulletin (FAB) No. 2021-03. According to the Bulletin, DOL is not issuing regulatory guidance “at this time” (see below for caveats), but the Bulletin offers guidance and alerts issuers and agents/ brokers to what it refers to as a policy of “temporary enforcement” of the disclosure requirements applicable to group health plans only. It emphasizes the importance of disclosing indirect compensation because “a significant goal of the new disclosure requirements is to enhance fee transparency, especially for service arrangements that involve payment of indirect compensation.”

The DOL Bulletin clarifies that group health plan agreements executed prior to Dec. 27 but effective after are not subject to the new disclosure and reporting requirements. The requirements apply to contracts that are executed, renewed, or extended on or

after Dec. 27. Additionally, according to the Bulletin, if an agent/broker enters into an arrangement through the use of a “broker of record” (BOR) agreement, the applicable date for purposes of determining the issuer’s disclosure obligation is the earlier of two dates: the date on which the BOR agreement is submitted to the carrier, or the date on which a group application is signed to obtain coverage for the following plan year, as long as such a signature is obtained through the ordinary course of business, and not for the purpose of evading disclosure.

COMPLIANCE FOR AGENTS Understandably, we have begun to receive inquiries and requests for additional information on the status of the anticipated HHS regulation regarding the compensation disclosure requirements for individual health plan and STLDI coverages. In December, HHS recommended that agents, brokers, and issuers implement new procedures to conform to the disclosure requirements as if the applicable regulations are already in force, so that affected groups aren’t scrambling to do so once it is finalized.

Agents and brokers involved in the sale of individual health insurance and STLDI policies should proceed with the expectation that the final rule will substantially resemble the notice of proposed rulemaking, at least for CONTINUED ON PAGE 18

2022 V1 | 15

Buying insurance from

PROFESSIONAL INDEPENDENT AGENT

CELEBRITY MASCOT OR ATHLETE

MORE CHOICE

LESS CHOICE

Independent agents represent many insurance companies.

They help you pick the best value and fit for your situation.

Direct companies sell products from just one company.

They have limited options.

C hoice

Customer Care FOCUSED ON CUSTOMERS

FOCUSED ON COMPANY GOALS

Your agent is not employed by the insurance company. They’ll do what’s best for you, even if it’s not best for your insurance company.

You’re talking with an employee of the insurance company. They may not tell you if there’s a better option, unless it also benefits them.

C onsistency MORE CONSISTENCY

NO CONSISTENCY

You work with one person who can provide thoughtful service and advice.

Call centers use bots and employ thousands of agents. Don’t expect consistent personal advice.

WHY CHOOSE AN INDEPENDENT INSURANCE AGENT? AS AN INDEPENDENT INSURANCE AGENT, YOU know that you work tirelessly to find the best coverage for your clients. Your clients, however, may not understand the difference between you or a direct writer.

PIA has crafted the Be Independent social media campaign to educate the insurance-buying public about the value of working with an independent insurance agent over a direct writer.

This campaign highlights real-life stories from a variety of lifestyles of personal-and commercial-lines clientele and can be shared as videos, graphics, pre-written stories, and an infographic.

As a PIA member, you have access to these resources absolutely *free* by downloading from the PIA website.

Download the Be Independent campaign at: www.pianational.org/marketing

Pressure to Buy NO PRESSURE

ALWAYS PRESSURE

Independent agents care about your needs, and work to establish long-term client relationships.

Even with a simple online insurance quote, you’re inundated with follow-up emails to buy, buy, buy!

16 | 2022 V1 Copyright © 2020 PIA Management Services, Inc. All rights reserved.

www.pianational.org | PIA CONNECTION

GET BETTER AT BUILDING AND GROWING RELATIONSHIPS ONLINE 79% OF AGENTS SAID THEY DO NOT THINK the online environment is conducive to establishing trust with clients, according to a recent PIA survey. Many agencies have developed relationships with clients in person over time. But what happens when those tried-and-true tactics aren’t all available to you—like in a pandemic?

PIA’s newest program, the Agent Experience, is a toolkit designed to help independent agents use digital technologies to strengthen and grow their customer relationships.

As agents start to explore the toolkit, they can begin by taking a digital self-assessment to determine where they stand—in both—thinking about building relationships and operating online. Once an agency has been assessed, the toolkit provides direction about which areas should be focused on to grow.

The toolkit contains: · Data points that explain why agents should build and grow relationships online · Real-life videos from independent agents who are experimenting with new ideas and growing their businesses using digital tools · Practical information about how to develop and grow customer relationships online · Curated resources about topics ranging from building trust online to engaging with communities online Now is the time, more than ever, to embrace digital technologies that allow agents to communicate with clients and customers. It’s time to meet customers where they are and use digital for greater reach and deeper connections.

Learn more about building relationships in a digital world at: www.pianational.org/agentexperience

BE INDEPENDENT A Social Media Campaign for PIA Agents PIA is sharing stories about the benefits of working with an independent insurance agent on social media.

Share on LinkedIn and Facebook, and retweet on Twitter these videos to educate consumers about the value of working with you.

PIANATIONAL.ORG/MARKETING PIA CONNECTION | www.pianational.org

2022 V1 | 17

AGENT COMPENSATION DISCLOSURES AND THE NO SURPRISES ACT CONTINUED FROM PAGE 15

now, and may consider initiating a gap analysis, if they have not already done so, to determine the degree to which their existing processes meet the new disclosure requirements, and identify gaps that will need to be filled to ensure compliance. The financial penalty for noncompliance could be substantial, although administrative enforcement seems unlikely during this period of regulatory limbo.

FUTURE ENFORCEMENT AND REGULATION According to the DOL Bulletin, pending further guidance, DOL does

not intend to treat a covered service provider who provides brokerage services or consulting to a group health plan as having violated the disclosure requirements of No Surprises as long as the provider made its disclosures “in accordance with a good faith, reasonable interpretation” of the applicable law.

Finally, the Bulletin concludes, DOL does not intend to promulgate regulations concerning disclosures applicable to group health plan issuers, though DOL noted that it will be monitoring the implementation of the new requirements and seek feedback

if it determines additional regulatory action may be needed.

HHS has issued no similar proclamation, so we expect HHS to promulgate a final regulation addressing compensation disclosures for issuers of STLDI and individual health insurance coverages. We will provide additional updates on the No Surprises Act agent/ broker disclosure requirements as they become available.

Lauren G. Pachman, Esq. is Counsel and Director of Regulatory Affairs for PIA National.

CYBER THE TOP CONCERN FOR BUSINESSES IN 2022 ACCORDING TO THE ALLIANZ RISK BAROMETER, businesses around the world are most concerned about cyber risks this year.

The report found that 44 percent of respondents said cyber threats were their biggest concern. This is driven by the ongoing risk of ransomware attacks. The report also notes that ransomware came in second after being considered the third greatest risk in 2021.

Scott Sayce, global head of cyber at Allianz Global Corporate & Specialty, said ransomware has become a major concern because it has become a favored tool by cyber criminals. “The commercialization of cybercrime makes it easier to exploit vulnerabilities on a massive scale,” he said. “We will see more attacks against technology supply chains and critical infrastructure.”

Meanwhile, 25 percent of respondents said they were most concerned about natural catastrophes. This risk sat at number three on the Risk Barometer. Climate change jumped from ninth place to sixth this year. Experts say this reflects greater losses from catastrophes and secondary risks, like floods and wildfires.

While still a major concern for firms, pandemic outbreak fell from second to fourth place on the Allianz Risk Barometer, although the insurer does note that its survey was done prior to the emergence of the Omicron variant.”

18 | 2022 V1

While the Covid-19 crisis continues to overshadow the economic outlook in many industries, encouragingly, businesses do feel they have adapted well. The majority of respondents (80%) think they are adequately or well-prepared for a future incident.

Improving business continuity management is the main action companies are taking to make them more resilient.

“The pandemic has exposed the extent of interconnectivity in modern supply chains and how multiple unrelated events can come together to create widespread disruption,” commented Philip Beblo, Property Industry Lead, Technology, Media and Telecoms, at AGCS. www.pianational.org | PIA CONNECTION

PIA CONNECTION | www.pianational.org

2022 V1 | 19

YOUR PIA MEMBER BENEFITS BUSINESS-BUILDING TOOLS

INSURANCE PRODUCTS

AGENCY MANAGEMENT TOOLS

✦ PIA MEMBER REIMBURSEMENT PROGRAM: Receive reimbursements on PIA marketing and PIA Partnership programs (up to $250 per program, for a total of up to $500). www.pianational.org/agentsupport

✦ E&O INSURANCE. With access to admitted and non-admitted markets with differing appetites chances are we can find the coverage and price that’s right for you. www.pianational.org/eando

✦ PIA BLUEPRINT FOR AGENCY SUCCESS: A 3-part resource guide for business planning, growth strategies, and agency continuity.

✦ PIA DMV: PIA’S DIRECT MARKETING VAULT. Targeted direct mail and digital advertising campaigns. Turn-key yet highly customizable. www.piadmv.com

✦ PIA AGENTS UMBRELLA PROGRAM. Excess insurance protection includes E&O and business liability coverage, with available endorsements for EPL and personal coverage.

✦ MARKETING SUPPORT FOR PIA MEMBERS. Print ads, radio commercials, consumer-oriented flyers and social media support for PIA members. www.piabrandingprogram.com

✦ CYBER LIABILITY INSURANCE. Coverage and pricing tailored to small and mid-sized businesses. ✦ INDIVIDUAL AND GROUP INSURANCE PRODUCTS. Basic, voluntary and dependent term life; long/short term disability; and AD&D. www.piatrust.com

✦ PIA MARKET ACCESS. Access to over 50 national and specialty carriers, realtime online rating, ownership of your book and no exit fees for a low monthly rate. www.piamarketaccess.com ✦

HARTFORD FLOOD INSURANCE. PIA’s endorsed flood provider since 2004. Dedicated local sales directors and book transfer/rollover team plus great commissions for PIA members. Call (860) 547-5006.

✦ PIA CYBER INSURANCE: Robust coverage tailored to small and midsized businesses. Coverage with special PIA-only enhancements is available for PIA members to sell. ✦ AVYST EFORMS WIZARD. Quickly and easily prepare ACORD, agency-specific, and carrier-unique applications and forms, entering data only once in an organized interview format.

Get to market faster! ✦ PIA AGENCY MARKETING GUIDE. Hands-on marketing tips from industry experts. Published annually.

✦ ROUGH NOTES - ADVANTAGE PLUS. Identifies risk exposures. Provides detailed coverage analysis. PIA member price $600 annually (reg. $700). Call 800-428-4384. Use your PIA member ID# above name on mailing label. ✦ AGENCY REVENUE TOOLS. Boost personal lines sales by engaging in employee worksite marketing using your appointed markets at regular commission rates. ✦ PIA LOGO. Put the PIA logo on your business card, website, stationery and signage. Order items with the PIA logo in our online store.

✦ AGENCY AGREEMENT REVIEW SERVICE. Free to members and carriers, PIA recommends changes to carriers and highlights concerns for members. ✦ AGENCY PREPAREDNESS AND RECOVERY PLAN. The PIA guide to creating an agency-specific business contingency plan.

TOOLS FROM THE PIA PARTNERSHIP, PIA’S COMPANY COUNCIL

✦ EMPLOYEE PROFILING. Hire the right people with skills and personality testing from OMNIA.

✦ WINNING@VIRTUAL. Your guide to evolving your sales and service in a digital world.

✦ HIRE WITH IDEALTRAITS. The comprehensive, go-to hiring tool for agencies looking to hire top performers. www.idealtraits.com/pia

✦ READY FOR EVERYTHING. The online crisis resource hub ck p i for insurance agents.

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✦

M ade

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✦ ACORD FORMS END USER LICENSES. Available for free to qualifying PIA members who access ACORD forms through agency management systems and other authorized distributors. Plus PIA member discounts on the ACORD Advantage Plus Program.

WINNING@TALENT. Your guide to hiring, motivating and retaining the best agency employees.

✦ AGENCY JOURNEY MAPPING. Value your agency, maximize your retirement income, and plan for unexpected death/ disability while creating a perpetuation plan for your agency.

✦ CYBER 101. Cyber education for you and your clients. ✦ SMALL BUSINESS INSURANCE & THE INTERNET—THE VOICE OF THE CL CUSTOMER. Stay ahead of online competition in commercial lines. ✦ CLOSING THE GAP—GROWTH & PROFIT. Plan for growth and profitability.

Includes tools for improving retention, sales and account-rounding. ✦ AGENCY TOUCH POINTS—THE VOICE OF THE CUSTOMER. Give personal lines customers what they really want. ✦ REACHING GEN Y. Convert Gen Y age group insurance consumers into loyal agency customers.

✦ Discounts on producer licensing and car rentals. ✦ Free subscriptions to industry publications.

LEGISLATIVE & REGULATORY OUTREACH ✦ PIA ADVOCACY BLOG. Timely updates about what’s happening on Capitol Hill and on state and federal regulatory issues. www.PIAAdvocacy.com. ✦ GRASSROOTS ALERTS. Send pre-written, fully-editable letters directly to your elected officials. www.pianational.org/grassroots ✦ PIA ADVOCACY DAY. Every spring, PIA members visit Capitol Hill to talk with their elected representatives about issues that are important to independent insurance agents. www.pianational.org/advocacyday ✦ PIA POLITICAL ACTION COMMITTEE (PIAPAC). PIAPAC contributes to the campaigns of candidates to federal office who share our pro-insurance, probusiness perspective and who support our issues. www.pianational.org/piapac

✦ PRACTICAL GUIDE TO SUCCESSFUL PLANNING. Plan for success within your own agency.

Learn more about these PIA member benefits at www.pianational.org.

R

PIA MEMBER BENEFIT SPOTLIGHT

ACCESS YOUR GUIDE TO HIRING, MOTIVATING AND RETAINING THE BEST EMPLOYEES “Digital and talent transformation [is] accelerating as insurers adapt for postpandemic growth … attracting (and retaining) talent in an evolving hybrid work environment will be key.”

— Deloitte

WINNING@TALENT IS A 3-PART TOOLKIT CREATED specifically to help agencies understand how to best recruit in today’s talent marketplace, while enhancing the employee experience so that employees want to stay.

Part 1, Are You Ready to Recruit? focuses on helping agencies assess their employer brand so they can see their agency the way prospective employees see their agency. We help agencies assess their brand, provide tools to help them build and strengthen it, and offer best practices on effective messaging across communication channels and social networks.

Part 2, Sourcing, Recruiting and Hiring, focuses on sourcing potential hiring prospects, recruiting and ultimately hiring them. This section offers resources and best practices to help agencies find, screen, interview and evaluate candidates in ways

that will help quickly fill key positions, build their talent pipeline and meet long-term recruiting goals.

Part 3, Retaining Your Best Employees, focuses on how agencies can retain their best employees as employee retention is vital to growing any agency. This section provides best practices and resources that agencies can share to help employees with their own career development.

Winning@Talent is brought to you by The PIA Partnership, a joint effort of leading insurance companies and PIA. Thank you to the members of The PIA Partnership: Encompass Insurance, Erie Insurance, Liberty Mutual Insurance, MetLife Auto & Home, National General Insurance, Progressive Insurance, Selective Insurance Group, State Auto Insurance Companies, The Hanover Insurance Group, Travelers and West Bend Mutual Insurance Company.

To get started with the Winning@Talent program, click here: https://www.pianational.org/pia-partnership Winning@Talent from the PIA Partnership | PIA

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PIA Connection Marketplace rates: $95/issue for 10 issues; $120/issue for 5 issues. To learn more and get a contract, or inquire about display advertising, please contact Robert Holt at rholt@pianational.org or 703-518-1353.

PIAtoCONNECTION | www.pianational.org 2022 V1 | 21

PIA AFFILIATES ALABAMA

MARYLAND

OREGON/IDAHO

PIA Southern Alliance, 3805 Crestwood Pkwy NW #140, Duluth, GA 30096 PHONE: (770) 921-7585 | FAX: (770) 921-7590 e-mail: info@piasouth.com | Web Site: piasouth.com

Insurance Agents & Brokers of Maryland 5050 Ritter Rd, Mechanicsburg, PA 17055-0763 PHONE: (717) 795-9100 | FAX: (717) 795-8347 e-mail: iab@iabforme.com | Web Site: www.iabforme.com

PIA Western Alliance 3205 Northeast 78th Street, #104, Vancouver, WA 98665 PHONE: (888) 246-4466 | FAX: (360) 571-7600 e-mail: piawest@piawest.com | Web Site: www.piawest.com

MASSACHUSETTS

PENNSYLVANIA

PHONE: (703) 836-9340 | FAX: (703) 836-1279 e-mail: membership@pianational.org | Web Site: www.pianational.org

PHONE: (703) 836-9340 | FAX: (703) 836-1279 e-mail: membership@pianational.org | Web Site: www.pianational.org

MICHIGAN

PUERTO RICO & CARIBBEAN

Michigan PIA, P.O. Box 99579 Troy, Michigan, 48099 PHONE: (616) 454-4461 | FAX: (616) 454-4491 e-mail: inquiry@mipia.com | Web Site: www.mipia.com

PIA of Puerto Rico and the Caribbean Inc 419 N. Lee Street, Alexandria, VA 22314 PHONE: 800-742-6900 | FAX: 703-836-1279 e-mail: membership@pianational.org | Web Site: www.piapuertorico.org

ARKANSAS PIA of Arkansas Inc. 102 Country Club Parkway, Suite 201, Maumelle, AR 72113 PHONE: (501) 225-1645 e-mail: staci@piaar.com | Web Site: www.piaar.com

CA/NV/AZ/NM PIA Western Alliance, 3205 Northeast 78th St #104, Vancouver, WA 98665 PHONE: (888) 246-4466 | FAX: (360) 571-7600 e-mail: piawest@piawest.com | Web Site: www.piawest.com

COLORADO

MINNESOTA

RHODE ISLAND

PHONE: (703) 836-9340 | FAX: (703) 836-1279 e-mail: membership@pianational.org | Web Site: www.pianational.org

PIA of Minnesota, 8646 Eagle Creek Circle, Suite 202, Savage, MN 55378 PHONE: (866) 694-7070 | FAX: (866) 749-8678 e-mail: info@piamn.com | Web Site: www.piamn.com

PHONE: (703) 836-9340 | FAX: (703) 836-1279 e-mail: membership@pianational.org | Web Site: www.pianational.org

CONNECTICUT

MISSISSIPPI

SOUTH CAROLINA

PIA of Connecticut, P.O. Box 997, Glenmont, NY 12077-0997 PHONE: (800) 424-4244 | FAX: (518) 434-2342 e-mail: pia@pia.org | Web Site: www.pia.org

PIA Southern Alliance, 3805 Crestwood Pkwy. NW, Ste. 140, Duluth, GA 30096 PHONE: (770) 921-7585 | FAX: (770) 921-7590 e-mail: info@piasouth.com | Web Site: piasouth.com

PIA of South Carolina, PO Box 6167, Columbia, SC 29260 PHONE: (803) 772-0557 | (888) 742-6372 | FAX: (803) 772-0846 e-mail: PIASC@piasc.net | Web Site: www.piasc.net

DELAWARE

MISSOURI

SOUTH DAKOTA

PHONE: (703) 836-9340 | FAX: (703) 836-1279 e-mail: membership@pianational.org | Web Site: www.pianational.org

Missouri Association of Insurance Agents 3315 Emerald Lane, Jefferson City, MO 65109-6878 PHONE: 573-893-4301 | FAX: 573-893-3708 e-mail: mbarton@moagent.org | Web Site: www.missouriagent.org

PHONE: (703) 836-9340 | FAX: (703) 836-1279 e-mail: membership@pianational.org | Web Site: www.pianational.org

MONTANA

PIA of Tennessee Inc 504 Autumn Springs Court Suite A-3, Franklin, TN 37067 PHONE: (615) 771-1177 | FAX: (615) 771-3456 e-mail: piatn@piatn.com | Web Site: www.piatn.com

FLORIDA PIA of Florida, Inc., 419 N. Lee Street, Alexandria, VA 22314-2353 PHONE: (850) 893-8245 | FAX: (703) 549-5190 e-mail: piafl@piafl.org | Web Site: www.piafl.org

GEORGIA PIA Southern Alliance, 3805 Crestwood Pkwy NW #140, Duluth, GA 30096 PHONE: (770) 921-7585 | FAX: (770) 921-7590 e-mail: info@piasouth.com | Web Site: piasouth.com

HAWAII PIA of Hawaii, 1247 Kelewina St. Kailua, HI 96734 PHONE: (808) 261-9460 | FAX: (808) 262-5355 e-mail: piahi@hawaiiantel.net | Web Site: www.piahawaii.com

ILLINOIS PHONE: (703) 836-9340 | FAX: (703) 836-1279 e-mail: membership@pianational.org | Web Site: www.pianational.org

PIA Western Alliance, 3205 NE 78th St Ste 104, Vancouver, WA 98665-0697 PHONE: (888) 246-4466 | FAX: (360) 571-7600 e-mail: piawest@piawest.com | Web Site: www.piawest.com

NEBRASKA/IOWA

PIA of Texas 5605 N. MacArthur Blvd. Suite 1000, Irving, TX 75038 PHONE: (972) 862-3333 | FAX: (972) 307-7888 e-mail: vicki@piatx.org | Web Site: www.piatx.org

NEW HAMPSHIRE

UTAH

PIA of New Hampshire, P.O. Box 997, Glenmont NY 12077-0997 PHONE: (800) 424-4244 | FAX: (518) 434-2342 e-mail: pia@pia.org | Web Site: www.pia.org

Utah Association of Independent Insurance Agents 4885 S. 900 E., Suite 302, Salt Lake City, UT 84117 PHONE: (801) 269-1200 | FAX: (801) 269-1265 e-mail: mattchild@uaiia.org | Web Site: www.uaiia.org

NEW JERSEY

INDIANA PIA of Indiana, 50 E. 91 Street Ste. 207 Indianapolis, IN 46240 PHONE: (317) 899-9200 | FAX: (317) 493-0408 e-mail: info@piaindiana.com | Web Site: www.piaindiana.com

NEW YORK

Kansas Association of Professional Insurance Agents 216 SW 7th Ave, Topeka, KS 66603 PHONE: (785) 232-4143 | FAX: (785) 232-0272 e-mail: trina@kansaspia.org | Web Site: www.kansaspia.org

KENTUCKY PIA of Kentucky, 107 Consumer Lane, Frankfort, KY 40601 PHONE: (502) 875-3888 | FAX: (502) 227-0839 e-mail: clemay@piaky.org | Web Site: www.piaky.org

LOUISIANA PIA of Louisiana Inc. 4021 W. E. Heck Ct., Building K, Baton Rouge, LA 70816 PHONE: (225) 766-7770 | (800) 349-3434 LA only | FAX: (225) 766-1601 e-mail: jody@piaoflouisiana.com | Web Site: www.piaoflouisiana.com

MAINE Maine Insurance Agents Association 17 Carriage Lane, Hallowell, ME 04347 PHONE: (207) 623-1875 | FAX: (207) 626-0275 e-mail: lisa@maineagents.net | Web Site: www.meiaa.com

22 | 2022 V1

TEXAS

PIA of Nebraska/Iowa, 11932 Arbor Street, Ste. 100, Omaha NE 68144 PHONE: (402) 392-1611 | FAX: (402) 392-2228 e-mail: cathy@pianeia.com | Web Site: www.pianeia.com

PIA New Jersey, P.O. Box 997, Glenmont NY 12077-0997 PHONE: (800) 424-4244 | FAX: (518) 434-2342 e-mail: pia@pia.org | Web Site: www.pia.org

KANSAS

TENNESSEE

PIA New York, P.O. Box 997, Glenmont NY 12077-0997 PHONE: (800) 424-4244 | FAX: (518) 434-2342 e-mail: pia@pia.org | Web Site: www.pia.org

VERMONT PIA of Vermont P.O. Box 997, Glenmont NY 12077-0997 PHONE: (800) 424-4244 | FAX: (518) 434-2342 e-mail: pia@pia.org | Web Site: www.pia.org

VIRGINIA/DC

NORTH CAROLINA

PIA Assn of Virginia & DC 1059 Technology Park Dr, Glen Allen, VA 23059 PHONE: (804) 264-2582 | FAX: (804) 266-1075 e-mail: kevin@piavadc.com | Web Site: www.piavadc.com

PIANC, 1059 Technology Park Dr, Glen Allen, VA 23059 PHONE: (804) 264-2582 e-mail: kevin@pianc.net | Web Site: www.pianc.net

WASHINGTON/ALASKA

NORTH DAKOTA PIA of North Dakota 827 28th Street South, Suite C-2, Fargo, ND 58103 PHONE: (701) 223-5025 | (800) 733-1050 ND&MN only FAX: (701) 223-9456 | e-mail: info@piand.com Web Site: www.piand.com

OHIO PHONE: (703) 836-9340 | FAX: (703) 836-1279 email: membership@pianational.org | Web Site: www.pianational.org

OKLAHOMA PHONE: (703) 836-9340 | FAX: (703) 836-1279 e-mail: membership@pianational.org | Web Site: www.pianational.org

PIA Western Alliance 3205 Northeast 78th Street, #104, Vancouver, WA 98665 PHONE: (360) 571-7100 | FAX: (360) 571-7600 e-mail: piawest@piawest.com | Web Site: www.piawest.com

WEST VIRGINIA PHONE: (703) 836-9340 | FAX: (703) 836-1279 e-mail: membership@pianational.org | Web Site: www.pianational.org

WISCONSIN PIA of Wisconsin, Inc., 6401 Odana Road, Madison, WI 53719-1126 PHONE: (608) 274-8188 | (800) 261-7429 | FAX: (608) 274-8195 e-mail: phanson@piaw.org | Web Site: www.piaw.org

WYOMING Assoc. of Wyoming Ins. Agents, PO Box 1321, Cheyenne, WY 82003 PHONE: (307) 201-4801 | FAX: (775) 796-3122 e-mail: awia@vcn.com | Web Site: www.awia.com

www.pianational.org | PIA CONNECTION

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