PIA Member Benefit Update: ACORD End User
Licenses for 2021
PIA is excited to announce that ACORD will once again be providing qualifying
PIA member agencies with a complimentary license to use ACORD forms in 2021,
when PIA members access these forms through a vendor such as an AMS or AVYST
eForms Wizard. PIA members will need to go to the ACORD website to accept the
2021 end user license agreement (EULA).
PIA will be verifying agencies' PIA membership with ACORD again in 2021. If you
requested that we verify your PIA membership in 2020, and have maintained an
active PIA membership, then we will confirm your current PIA membership directly
with ACORD for your 2021 license—you do not need to contact PIA unless ACORD
specifically requests that you do so.
For more information and updates on this PIA member benefit, please visit
If PIA National has not previously confirmed your PIA membership with ACORD,
and you would like us to do so, or if you have questions about this PIA member
benefit, please email us at
FEMA Secures NFIP Flood Reinsurance for 2021
The Federal Emergency Management Agency (FEMA)
has secured $1.153 billion of flood reinsurance
the National Flood Insurance Program (NFIP) for 2021, at a premium of
$195.8 million. It was announced in September 2020 that FEMA had returned
to the traditional reinsurance market and commenced the procurement of
reinsurance for the NFIP for 2021.
After securing $1.33 billion of traditional reinsurance from a panel of
27 reinsurers at the start of 2020, it was suggested that FEMA could increase
the size of the program for 2021, dependent on both appetite and price.
However, FEMA revealed that for 2021 the amount of risk transferred to the
traditional reinsurance market stands at $1.153 billion, which represents a
decline of more than 13 percent from the previous year.
FEMA has been leveraging reinsurance for the NFIP
for a number of
years, after testing the market with a limited placement in 2016, before
securing its first full placement
ahead of the
Jan 1st, 2017 renewals.
NOAA: 2020 Breaks Record With 22
Twenty-two separate billion-dollar weather
impacted the United States in 2020, by far a record number
of such events in any year, according to a report released Friday by the
National Oceanic and Atmospheric Administration (NOAA).
The 22 disasters with damage estimates of at least $1 billion obliterated
the previous record number in any year, 16 in both 2011 and 2017, in NOAA
records since 1980.
All but two of the disasters occurred east of the Rockies, including seven
hurricanes and tropical storms, and 13 separate severe weather events. Only
the record-breaking wildfire season and the expansive drought made the
billion-dollar list out of the West in 2020.
The costliest 2020 disasters included
Hurricane Laura ($19 billion),
the Western wildfires ($16.5 billion) and the massive Midwest
derecho ($11 billion).
Join PIA For a Virtual Coffee Break
Research shows it's great to build in breaks into your day while working.
So stop whatever you're doing, make yourself a fresh cup of coffee or tea,
and hop onto our video call to meet other PIA members across the country
for PIA's monthly coffee break.
On Tuesday, January 26, at 3 PM ET
, PIA will host an informal, virtual
coffee break for PIA members. This meetup is the perfect chance for you to
connect with other independent insurance agents, talk about your goals for
2021, bring your questions, share your frustrations, and seek advice.
We hope to see you there!