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

Moody’s has released a new report on homeowners insurance. Rates are up and profits are way down. Rates went up an average of 23% in 2023 but profits dropped. That has led insurers to try to find ways to increase profits.

According to the Moody’s report, rate raising is not working all that well.

“Profitability in the U.S. homeowners’ insurance sector has been weak in recent years as a result of exposure growth in catastrophe-prone areas, persistently high weather-related losses and rising costs to rebuild and repair homes,” the Moody’s report said. “Homeowners insurers have responded with sharp increases in premiums and tighter policy terms, and some have exited high-risk regions.”

The report notes that in the last decade the combined ratio for the homeowners line averages 101.3. that means insurers have paid out more than the premiums they’ve charged. To combat that, homeowners insurers have raised rates and eliminated some underperforming business.

As you know, they’ve also left some high-risk areas like parts of California. And in the last five years, almost every state has seen a doubling of homeowners insurance rates.

State run insurers of last resort are now collecting around 3% of all premiums and are covering homes in high-risk areas that are now not covered by private insurers.

Moody’s Chief Research Officer for Insurance Solution Robert Muir-Wood did a blog on the topic about the same time as the report was released. He points to the causes behind the average rate increase of 23%. Here is his list:

  • Climate change
  • Unprecedented economic shocks
  • Coverage crises
  • Global supply chain stress
  • Geopolitical strife
  • Aging infrastructure
  • Cybersecurity uncertainty
  • Long-tail liabilities

“These risks are affecting all businesses, the business of risk itself, and the state of the risk landscape,” Muir-Wood wrote.

Source link: PropertyCasualty360.com — https://bit.ly/3K3WssU