The Western Alliance is proud to announce CPIA designation courses will be available via webinar format beginning in January 2024 at piawest.com.  

 

Check our calendar of events for course informatioin.  

Registrations will be open soon!

CPIA - Certified Professional Insurance Agent

Empowering Insurance Professionals into the Future

The CPIA designation is first-of-its-kind, hands-on, how-to training. To earn the CPIA designation candidates are required to participate in a series of three, one-day seminars THE BEST PART IS NO EXAMS!
Completion is due three years from the first course.

These seminars are designed to enhance the ability of producers, sales support staff, and company personnel to efficiently create and distribute effective insurance programs. Participants leave with ideas that will produce sales results immediately.

While not a requirement, it is recommended that courses are taken in order.E&O Discounts apply for Utica National Policy Holders.

Each of the 3 courses are approved for 7 CE in
AZ | CA | ID | MT | NM | NV | OR | WA

Course Modules

CPIA 1
Position for Success

CPIA 2
Implement for Success

CPIA 3
Sustain Success

During this workshop, participants focus on internal and external factors affecting
the creation of effective business development goals.

Factors discussed include:

current state of the insurance                 marketplace

competitive pressures

insurance carrier underwriting criteria

consumer expectations.

During this workshop, participants learn:

specific tools for analyzing consumer needs

how to utilize risk identification techniques to gather pertinent prospect
information

skills necessary to assimilate information gathered into customized coverage recommendations

how to prepare a complete submission

tips for preparing and presenting a comprehensive insurance proposal

This workshop focuses on fulfilling the implied promises contained in the insuring agreement.

Participants will:

review methods of providing evidence of insurance coverage

discuss policies and procedures for controlling errors and omissions including policy review and delivery, endorsements, claims-processing, and handling of client complaints

learn how to calculate the lifetime value of a client and techniques for generating referrals.

CPIA Update Requirement

The Certified Professional Insurance Agent designation stands for professionalism, commitment to professional training and results, and technical knowledge. To maintain the right
to use the CPIA designation, designees must complete an update on an annual basis * or maintain a Ruby, Sapphire or Diamond level membership with the CPIA Program.

* CPIA 1, CPIA 2, CPIA 3, Special Topics:

An Agent’s Guide to Understanding and Mitigating Cyber Exposures

Disaster and Continuity Planning for Business and Families

An E&O Loss Control Program for Agencies

MarketScout has just released an analysis of commercial insurance rates for the fourth quarter of 2022. The firm says the composite rate jumped 5.1%. That’s down a small amount from the 5.28% rise in the third quarter.

The positive conclusion for 2022 means commercial rate increases have gone steadily up for six straight years.

The fourth quarter of 2022 for property insurance saw rates rise an average 9.3%. MarketScout founder and now CEO of Novatae Risk Group, Richard Kerr said properties that are exposed to potential catastrophes, are seeing hikes of 25% to 30%.

“On January 1, 2023, property cat reinsurance renewals were completed except incases of poor underwriting and continuous losses,” Kerr said. “Virtually everyone was assessed more restrictive terms and conditions. The trickle-down will have a notable effect on the profits of property MGAs and program managers due to lower base commissions.”

The biggest increase was seen in cyber insurance rates. They skyrocketed 20%.

Kerr isn’t sure the rate hikes are going to stay on the up side. He thinks the economy slowing down and interest rate hikes by the Fed could push a moderation in rate increases.

That happened in the 1980s.

“As insurers accounted for the increased income from interest rate payments on premiums paid, rates were adjusted downward,” Kerr said. “Arguably, an insurer could write at a 100% combined loss ratio because the interest they received on booked premiums was 12% to 20%. We are a long way from seeing interest rates at those levels, but even at 5% it will have a positive impact on the ROI of some insurers, possibly resulting in a moderation of rate increases.”

Here are the fourth quarter numbers by class:

  • Cyber: up 20%
  • Commercial property: rose 9.3%
  • Umbrella/excess: jumped 7.7%
  • Commercial auto: increased 7%
  • General liability: are up 6.7%
  • EPLI: rose 6.3%
  • D&O liability: increased 6%
  • Professional liability: leaped 5.3%
  • BOP: rose 5%
  • Business interruption: are up 3.7%
  • Inland marine: jumped 3.7%
  • Fiduciary: rose 2.3%
  • Crime: increased 2%
  • Surety: saw a 1.3% hike
  • Workers’ compensation: flat, 0%

Here are the numbers by account size:

  • Smaller accounts (up to $25,000): up 6%
  • Medium accounts ($25,001 to $250,000): rose 5.3%
  • Large accounts ($250,001 to $1 million): jumped 4%
  • Jumbo accounts (over $1 million): increased 5.6%

Source link: Insurance Business America — http://bit.ly/3k7Rf9I

Source link: Business Insurance — http://bit.ly/3imusa0