Courtesy of PIAND
Responding from criticism from USDA's Office of Inspector General (OIG), the department's Risk Management Agency (RMA) announced updated factors for prevented plant coverages. A 2013 OIG report looked at prevented planting claims from 2008 to 2011 and found the RMA set current prevented planting levels above the percentages of guarantees that insured needed to cover average preplanting costs. Subsequent to that report, RMA commissioned a third-party evaluation of prevented planting coverage, which provided recommendations for determining prevented planting factors. Area crops that are affected all had a prevented planting factor of 60% prior to the study and will have 2017 factors as follows: Corn - 55%, Soybeans - 60%, Wheat - 60%. The study analyzed the top 7 crops and included cotton, rice, and grain sorghum in addition to the ND crops. The only factors changed were for corn (down 5%) and rice (up 10%). Other crops will be evaluated in the next 2 years according to RMA.
As a mutual, Nationwide has a responsibility to our members. This includes continually reviewing our business strategy and product offerings.
To focus our efforts on core product lines (increasingly in the commercial and financial services sectors), Nationwide has made the difficult decision to exit the nonstandard auto and nonstandard commercial vehicle lines of business.
Pending regulatory approvals, Nationwide will no longer write new nonstandard auto insurance and nonstandard commercial vehicle insurance through agents beginning March 1, 2017, and will no longer renew those existing policies beginning July 1, 2017. Beginning in January 2017, Nationwide will no longer write new nonstandard auto policies on nationwide.com.
Members’ current coverage will remain in effect through the end of their policy term. Nationwide will continue to support members until their policies come up for renewal, including handling claims that occur prior to the policy renewals.
Nationwide has worked to make the transition as easy as possible for our members, agents and associates by arranging for an alternative coverage option to be made available for members who are interested with National General (NASDAQ: NGHC). National General is a specialty personal lines insurance holding company. National General traces its roots to 1939; has a financial strength rating of A- (excellent) from A.M. Best; and provides personal and commercial automobile, homeowners, umbrella, recreational vehicle, motorcycle, supplemental health, and other niche insurance products.
Nationwide independent agents (regardless of brand) will have options for continuing to offer nonstandard auto and nonstandard commercial vehicle insurance policies. We will facilitate the ability of independent agents to offer nonstandard auto and nonstandard commercial vehicle coverage through National General as described below.
Independent agents can seek a direct appointment with National General, who will work through their appointment and approval process with you.
If you would like to receive an automatic quote and replacement policy offer from National General to share with your customer, please review the following:
For states (see FAQs) where National General does not write new business, agents may use another third-party carrier.
Customers will be encouraged to contact their agents if they have questions or wish to discuss how this impacts them. We are communicating with you now to give you time to plan for and better understand the transition and to prepare to answer questions from your customers.
While this will impact new nonstandard auto and nonstandard commercial vehicle policies beginning March 1, 2017, all current Nationwide nonstandard auto and nonstandard commercial vehicle policies will be non-renewed from July 1, 2017, through the first half of 2018 as members’ policies renew. Nationwide will begin notifying members by mail prior to their policy renewing, according to state laws and regulations.
You can read more detailed information in these Independent Agent FAQs. You also can contact your Nationwide sales leader with any questions.
Thank you for your continued business. We appreciate your partnership and support as we work through this transition.
Welcome to PIA of North Carolina’s Job Openings/ Want Ads posting.
This area is used to post job opening information in our industry.
Before any information can be included on this page it must be submitted for approval.
Please Click Here to email your information to our office.
Thank you, Jim Kennedy – PIANC
WANTED – Agent is looking to purchase small P/C agency or Auto agency within a 25 mile radius of the Charlotte Metro area.
Contact Jim Kennedy: 704-534-2338 or firstname.lastname@example.org
iFarm Premium Calculator and Payment Evaluator: Two new web-based decision tools are now available in the crop insurance section of farmdoc. These computer tools are supported by the National Center for Supercomputing Applications (NCSA) at the University of Illinois. The ifarm Premium Calculator provides farmer-paid premiums for insurance products on a per acre basis. The calculator works by allowing a detailed comparison between farm-level and area-level insurance products in terms of cost and guarantee values. It also uses current price and volatility conditions, and will reflect current market conditions through the final release of 2016 Projected Prices and Volatilities by RMA. The ifarm Insurance Evaluator provides performance evaluations of alternative crop insurance products for a case farm within a county in the corn and soybean regions. It also provides premium estimates for all products based on coverage level, expected frequency of payments, average payment per acre, net cost per acre and risk reductions associated with alternative crop insurance products and election levels. The web-based designs of these products are scalable to different platforms including laptop computers, tablets, and phones. This information was provided by farmdocdaily, by Gary Schnitkey, Bruce Sherrick, and Scott Irwin. Click here for more information about these iFarm tools.
Applicable States: All Agent Umbrella States
Date: October 6, 2016
Effective: November 1st, 2016
Effective November 1, 2016 for new and renewal policies, we will adopt the ISO 2013 Commercial Liability Umbrella Multistate Forms. We have updated our Umbrella Coverage Form to reflect the highlighted broadenings of coverage, clarifications of coverage.
71 1184 Commercial Liability Umbrella Coverage Form
BROADENINGS OF COVERAGE
Coverage A – Exclusion 2.c. (Liquor Liability) is revised to provide an exception with respect to allowing a person to bring alcoholic beverages onto the named insured’s premises for consumption on the named insured’s premises.
Coverage A – Exclusion aa. (Electronic data) is revised to introduce an exception for liability for damages because of bodily injury.
Coverage A – Exclusion 2.c. (Liquor Liability) is revised to reinforce that the exclusion applies even if claims against an insured allege negligence or other wrongdoing in the supervision, hiring, employment, training, or monitoring of others, or providing or failing to provide transportation with respect to any person that may be under the influence of alcohol.
Coverage B – Exclusion 2.(2) and 2.(3) (Material Published With Knowledge Of Falsity and Material Published Prior to Policy Period) are revised to reference “in any manner” with respect to oral or written publication, for consistency with the definition of personal and advertising injury.
Underlying Claims-Made Coverage 71 1211 1116
Underlying Claims-Made Coverage 71 1248 1116 (New York)
Underlying Claims-Made Coverage 71 1423 1116 (North Carolina)
Underlying Claims-Made Coverage 71 1228 1116 (Virginia)
Minor Paragraph updates and under Exclusion D.a.(3) Material Published Prior To Policy Period was revised to add “in any manner”, arising out of oral or written publication.
State Amendatory mandatory endorsements were added for the following states:
Personal Umbrella Liability Endorsement Amendment71 1891 (Virginia)
Personal Umbrella Liability Endorsement Amendment71 1892(Maryland)
Congress Urged to Move on Farm Bill Next Year
At least one major farm group is urging lawmakers to start moving a new farm bill to ensure it gets enacted ahead of the mid-term elections in 2018. Richard Wilkins, president of the American Soybean Association, said at the Farm Progress Show recently that it’s going to be “very difficult and challenging” to pass the bill if Congress delays work on the legislation until 2018. ASA’s big concern is that delaying a new bill into the following Congress means that lawmakers are likely to have less money to spend on it. Because of the way spending was front-loaded in the 2014 farm bill, the budget baseline for the next bill shrinks the longer Congress waits to enact it. “We think that the earlier we get to work on this the better off we’re going to be,” Wilkins said. House Agriculture Chairman Mike Conaway hasn’t said when he plans to mark up a new bill. The chairmanship of the Senate Agriculture Committee in the next Congress is up in the air at this point. The Senate could easily flip to Democratic control in the November elections. (Article courtesy of Agri-Pulse)
Requirement to Report Field Location on the Acreage Report
Beginning with the 2017 reinsurance year, insureds must report field location on the acreage report. View entire Article.
This will ensure that any “Equipment Breakdown” losses are covered. Don’t forget about “Off Premises Utility Transmission Lines” that can cause major losses to a company’s manufacturing output!
Remember Hurricane Matthew several weeks ago and those Companies that did not have power due to power lines being down with high winds?! Did you Mr./Ms. Agent not have this loss covered? Can you say EO claim for your failure to provide proper coverage?!
Read more here. This article is from PLM/ILM Winter 2016 UPDATE, a big thank you!
Please join us next year August 16-17, 2017 at the Village Inn Event Center in Clemmons, NC.
Registration will begin in May.
Our NC Governor
Burr, Richard - (R - NC) Class III
217 Russell Senate Office Building Washington DC 20510
Tillis, Thom - (R - NC) Class II
185 Dirksen Senate Office Building Washington DC 20510
NC House of Representatives