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

Washington state Insurance Commissioner Mike Kreidler held five sessions on how insurers explain premium increases. The meetings were held with insurers, consumers and interested parties.

Those who’ve followed Kreidler’s insurance actions lately, the outcome was a given.

After getting “input” from the aforementioned people, Kreidler has adopted a new rule that goes into effect in June of next year. It says insurance companies have to explain their premium increases in language that a policyholder can understand.

“If your insurance company is going to increase your premium, you have a right to know why,” Kreidler said in his news release on the matter. “This is pretty basic information you should expect from your insurance company, but we hear from hundreds of consumers every year who cannot get a clear, understandable answer on why they’re being charged more.”

But is it needed? Kenton Brine is the president of the NW Insurance Council. He attended several of Kreidler’s sessions and gave a the commissioner a lot of input.

“Insurers, producers and trade associations agree that insurance consumers need accurate, understandable information about their insurance premiums. From the beginning of the OIC’s (Office of the Insurance Commissioner) yearlong rulemaking process, our primary concern has been that providing information that is excessively complex would defeat the purpose of the rule,” Brine told Weekly Industry News.

Here’s what happens in June of 2024 and requires insurers to do until June 1, 2027:

  • When a policy renews and the premium increases, insurance companies must give policyholders who ask reasonable explanations using terms they can understand.

Here’s what happens in June 1 of 2027:

  • Insurance companies must provide a written notice to policyholders who received a premium increase of 10% or more explaining the primary factors behind the increase. They must also provide this same notice to any policyholder who asks.
  • Primary factors include: the vehicle’s location, driving record, miles driven, number of drivers, claims history, discounts, fees and surcharges, the driver’s age, credit history, education, gender, marital status, occupation, property age, and value.

Ironically, while noting a complex and complicated amount of information he wants insurers to compile for consumers like the driving record, miles drive, number of drivers, claims history, and so on, Kreidler pointed out that some insurance companies have rating formulas that are too complex and contends not even they can explain why a premium has changed.

The new rule — Kreidler says — will create more transparency for consumers.

Brine disagrees and says this is especially true with the rule changes in 2027. He told Weekly Industry News that the average policyholder does not want a 13-page analysis of an algorithm that costs the insurer several million dollars to produce and that will ultimately be paid for by the policyholder.

“We believe that the rule’s requirement providing a more straightforward explanation of a premium increase to a policyholder at their request starting next year makes sense. But we hope the OIC will reconsider the second phase of the rule that begins in 2027,” he said. “Providing excessively granular information will frustrate policyholders and needlessly raise the cost of insurance in Washington.”

Source link: Washington Department of Insurance — https://bit.ly/44izNkO