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

Before the early 2000s, flood insurance sales belonged mainly to the federally run, National Flood Insurance Program (NFIP). Hurricane Katrina put a huge knife into the back of the NFIP and set it reeling and into debt by billions.

It pushed Congress and regulators to encourage more growth in the private flood insurance market. So between 2016 and 2022 the private insurance market grew significantly.

The Insurance Information Institute (Triple-I) said its figures show direct written premiums rising 24% during that time frame. In 2016 there were just 18 private insurers selling flood insurance and they owned 12.6% of the market and had just a little less than $1 billion in direct written premiums.

Today that figure is double.

Adding to homeowners looking more seriously at the private market is the NFIP’s redo of its program and the institution of Risk Rating 2.0 that was fully implemented in April of this year. The goal of Risk Rating 2.0 is to make flood insurance rates match the risk.

It’s kind of working. There are ways built into the program to help some homeowners get around increases. The most popular, and most used, are discounts if the community one lives in does flood mitigation efforts.

The Government Accountability Office (GAO) says that’s pushing billions back onto the continual mounting debt incurred by the NFIP.

Congress wants the NFIP to have an average increase in rates of 5% per year. That’s not happening says researchers at Poulton Associates. NFIP rates fell an average of 9% between 2014 and 2019.

In the meantime, the private market continues to grow. Private flood insurers now own 32% of the overall market. That leads us to which private flood carriers are doing the best. AM Best recently did an analysis.

1. AIG

2022 direct written premium: $175.1 million

2022 market share: 13.4%

2022 adjusted loss ratio: 42%

2. Zurich — U.S. P&C Group

2022 direct written premium: $151.1 million

2022 market share: 11.5%

2022 adjusted loss ratio: 17.1%

3. Berkshire Hathaway

2022 direct written premium: $124.4 million

2022 market share: 9.5%

2022 adjusted loss ratio: 22.8%

4. Assurant

2022 direct written premium: $120.9 million

2022 market share: 9.2%

2022 adjusted loss ratio: 102.9%

5. AXA XL America Companies

2022 direct written premium: $117.2 million

2022 market share: 9%

2022 adjusted loss ratio: 68.5%

6. Swiss Re Group

2022 direct written premium: $91 million

2022 market share: 7%

2022 adjusted loss ratio: 17%

7. Sompo Holdings U.S. Group

2022 direct written premium: $71 million

2022 market share: 5.4%

2022 adjusted loss ratio: 38.6%

8. Liberty Mutual

2022 direct written premium: $70.9 million

2022 market share: 5.4%

2022 adjusted loss ratio: 18.1%

9. Chubb

2022 direct written premium: $48.2 million

2022 market share: 3.7%

2022 adjusted loss ratio: 54.4%

10. Allstate

2022 direct written premium: $44.2 million

2022 market share: 3.4%

2022 adjusted loss ratio: 55.4%

Source link: PropertyCasualty360.com — https://bit.ly/4aJlGJ8

Flood Insurance — Private Insurer Neptune Flood Hits 5%

Neptune Flood Insurance said it has crossed the $200 million mark in the sale of flood insurance premiums. That’s 5% of the flood insurance policies sold in the country and company CEO Trevor Burgess said that makes Neptune the largest private flood insurer in the country. The National Flood Insurance Program (NFIP) sells most of …

Flood Insurance — Private Insurer Neptune Flood Hits 5% Read More »

NFIP Bill Renews Threat to Agent Commissions

Sens. Bob Menendez (D-NJ) and Bill Cassidy (R-LA) introduced bipartisan legislation that would reauthorize the National Flood Insurance Program (NFIP) for five years and make several changes to the program. The National Flood Insurance Program Reauthorization and Reform Act of 2023 has a House companion bill, which is sponsored by Reps. Frank Pallone (D-NJ) and …

NFIP Bill Renews Threat to Agent Commissions Read More »

10 States Suing FEMA Over High Flood Insurance Premium Increases

Louisiana is leading a coalition of 10 states suing the Federal Emergency Management Agency (FEMA) and the Department of Homeland Security over increasing flood insurance rates. The other nine states are the PIA Western Alliance states of  Montana and Idaho, and Florida, Kentucky, Mississippi, North Dakota, South Carolina, Texas and Virginia. The suit was filed …

10 States Suing FEMA Over High Flood Insurance Premium Increases Read More »

Biden Administration — The Flood Insurance Reforming Risk Rating 2.0 Needs Tweaking

Department of Homeland Security Secretary Alejandro Mayorkas says the National Flood Insurance Program (NFIP) reforming Risk Rating 2.0 — itself — needs reforming. In some circles — like most of the Gulf states and states along the East coast — the reforms have been very unpopular. Many in Congress — from both parties — are …

Biden Administration — The Flood Insurance Reforming Risk Rating 2.0 Needs Tweaking Read More »

Flood Insurance — What Consumers Don’t Understand

The recent, nearly overwhelming, flooding in California has brought the importance of flood insurance, and understanding flood insurance, to the forefront. A new survey titled, The Neptune Consumer Survey of Flood Risk Awareness, finds that a huge percentage of consumers are totally confused about flood insurance. Most insurance people understand flood insurance but very few …

Flood Insurance — What Consumers Don’t Understand Read More »