Southeast Louisiana — Let Us Know Your Needs!
We are currently checking in with our members in Southeast Louisiana following
Hurricane Zeta, and we would ask that you help us by letting us know your needs.
Please check in on our PIA of Louisiana Peers Facebook group page to let us know
you're okay and/or if you have any assistance requests. This is also a great way
to touch base with your fellow members. You can also email or call us at the PIA
office. We know many of you are without electricity and/or internet service, but
please remember that we're here to serve you, so check in with us as you can so
we know how we can best do that.
DOI Reissues Emergency Rule 45 to Extend
Termination Date of October 20, 2020,
through November 18, 2020, Unless Terminated Sooner
Emergency Rule 45 provides for the suspension of certain statutes, including those
regarding cancellations, terminations, non-renewals and nonreinstatements, premium
payment, claim filings and related provisions relative to all kinds of insurance and
all types of insurers doing business in Louisiana who have insureds residing in
Louisiana in 16 parishes affected by Hurricane Laura and its aftermath, and other
View Emergency Rule 45
Wayne White on the Pandemic Risk Insurance Act (PRIA)
Making economic survival as accesssable to small businesses as well as large ones
is the focus of the Pandemic Risk Insurance Act (PRIA), according to PIA National
President Wayne White. PRIA has been introduced by Congresswoman Carolyn B. Maloney
(D-NY), senior member of the House Financial Services Committee, as that potential
solution. White testified before a hearing Maloney held on PRIA.
Insurance Business America published an analysis
White's testimony and examined
PIA National's position on PRIA, noting that PIA National is calling for is a
public-private partnership through which the federal government and private industry
will unite to provide compensation for business interruption losses resulting from
future pandemics or public health emergencies.
"PIA National believes that
keeping a future pandemic from causing economic disaster
requires a public-private partnership, and the insurance community can be a part of
that solution," said White. Alluding to the Terrorism Risk Insurance Act (TRIA), the
creation of which PIA National successfully advocated for in 2002, White noted "This
is certainly very similar, where carriers feel that the severity and frequency [of
losses] are not predictable, and they're concerned about industry surplus. The
public-private partnership addresses that issue so that it should allow carriers to
participate in this."
IVANS: Commercial Renewal Rates Continue Increase
IVANS, a division of
Applied Systems, announced the Q3 2020 results
of the IVANS
Index™, the insurance industry's premium renewal rate index. Q3 results showed
an increase in premium renewal rate change average across nearly all major commercial
lines of business, including Commercial Auto, Business Owner's Policy, General
Liability, Umbrella, and Commercial Property compared to Q3 2019; however, Workers'
Compensation average premium renewal rate change remained in negative territory.
Commercial Auto, Business Owners Policy
, Commercial Property, and Umbrella
experienced lower average premium renewal rate for Q3 2020 relative to Q2 2020;
General Liability and Workers' Compensation experienced flat to slightly higher
average premium renewal rate quarter over quarter.
Does your agency have policies in place to take on a successful remote work
environment? According to FlexJobs, remote work has grown by 159% over the last
twelve years. Due to the current global crisis, remote work has become the new
normal for many companies. Ready for Everything provides multiple resources to
prepare insurance agents should their employees be displaced from the office over
an extended period of time.
During a crisis, it is crucial to have a successful work from home environment to
insure the smooth operation of business. Some resources of this program include:
- Tools available to help teams collaborate
- Tips on how to manage employees remotely
- Guidance on how to protect information when out of the office
To learn more, visit:
Attend a short webinar about Ready For Everything (recording
available to all attendees)
Thank you to The PIA Partnership for making all of this possible!
Partnership companies include: Encompass Insurance, Erie Insurance, Liberty Mutual,
Met Life Auto & Home, National General Insurance, Progressive Insurance, Selective
Insurance Group, State Auto Insurance Companies, The Hanover Insurance Group, Travelers,
and West Bend Mutual Insurance Company.