Professional Insurance Agents of NC

An Agents Association for Agents, Run by Agents

New E-Payment Process: What to Expect

In early April, the Bureau will officially begin collecting premium payments on assigned risk
policies using E-Payment. This new E-Payment platform will be the preferred payment
method for assigned risk premium.

Please review this document to learn more about the following:

1. What to Expect: Photo guide of new e-payment process
2. FAQs

In order to prepare for these upcoming changes, agents should complete the following
preparation steps:
1. Contact your premium finance company partners to discuss the new process and
determine how they can accommodate the change
2. Ensure all individuals establish and/or update their ManageAR account with current
contact information

We’re looking forward to the new E-Payment solution and hope you enjoy the simplified
process as well. Please direct any questions to our information center at support@ncrb.org
or 919-582-1056.

Sincerely,
Jarred Chappell
Director, WC Operations

MAY 2019 RALEIGH – North Carolina Insurance Commissioner Mike Causey today announced that the MyDOi smartphone app has gone live, providing insurance agents with information they need to know at their fingertips, anywhere they can take their phone and have a data connection.

“I’ve made customer service a top priority as Insurance Commissioner,” Commissioner Causey said. “Now, agents across North Carolina will be able to look up information about continuing education and their own account while on the go by installing our app.

Agents can scan the MyDOi QR code from NCDOI.COM to load the application and access it from their mobile device.

Once agents have the app on their phone, they can interact with the Department of Insurance for vital information. Agents can use the app to:

◼ See their continuing education transcript
◼ Look up continuing education courses
◼ See continuing education providers
◼ Look up their National Producer Number (NPN)
◼ Get a contact number and email address for the Agent Services Division.
◼ Receive important agent notifications from the Department of Insurance.

Although consumers can contact the Department of Insurance and submit a complaint through the current version, plans are underway for the DOI to expand its consumer functions, making it a modern and easy method for engaging with the department.

Below you will also find a list of map information services that the Guilford County Planning and Development Department provides. All inquiries can be directed to Frank Park, the Floodplain Administrator at 336-641-3753.

Guilford County will assist in finding the following information:

Whether the property is in an SFHA.
The community number.
The panel number and suffix.
The date of the FIRM’s index (cover panel)
The FIRM zone e.g., A, C, X, V, AE, A2, AO etc.
The base flood elevation (the depth in AO Zones) where shown on the FIRM.
The elevation datum used on the FIRM, if other than the NGVD.
Floodway data.
The approximate depth of flooding.
Any historical information about the property that we may have.
Any information about streams and wetlands on the property.

More information is available at:
Guilford County Floodplain Management: https://www.guilfordcountync.gov/our-county/planning-development/watershed-protection-stormwater-management/floodplain-management
National Flood Insurance Program: www.floodsmart.gov
NC Flood Insurance Rate Maps: http://fris.nc.gov/fris/Home.aspx?ST=NC
FEMA: https://www.fema.gov/national-flood-insurance-program

Here is some more information you may find helpful:
Guilford County Floodplain Educational Package
Guilford County Floodplain Education

If you have any questions or comments please contact Frank Park, Floodplain Administrator at 336-641-3753.

Lauren Pachman

In a major win for PIA National and small-business insurance agencies across the country, final regulations were issued on Friday, January 18, by the U.S. Treasury and the Internal Revenue Service (IRS) saying that, for the most part, insurance agents are permitted to take the 20 percent pass-through deduction provided by the tax law passed at the end of 2017. Specifically, the regulations state that “insurance cannot be considered a financial service” for the purpose of taking the 20 percent pass-through tax deduction.

PIA National lobbied for the passage of the tax bill at the end of 2017 largely because of its improved treatment of S corporations, also known as pass-through corporations. After the bill was signed into law, however, it soon became clear that the law was ambiguous as to the application of the pass-through provision to insurance agents. There was the possibility that the owners of independent insurance agencies who file as S corporations might not be able to take advantage of the deduction created by the law. PIA National immediately sprang into action, meeting with congressional offices to ask that they weigh in with the administration on behalf of agents. PIA National provided comments to Treasury and the IRS encouraging them to issue a regulation that would clarify agents’ opportunity to take advantage of the pass-through provision.

The final regulations state that specified service trades or businesses, including “financial services,” are not permitted to take the deduction. These final regulations state that, in general, “financial services” do not include insurance, and therefore that insurance agents are permitted to take the deduction. This interpretation supports PIA National’s position on this issue.

Please note, however, that Treasury and the IRS declined to issue a categorical exclusion of all services provided by insurance agents from the definition of “financial services,” because they recognized that some agents do engage in activities (such as managing wealth, advising clients with respect to finances, etc.) that are considered “financial services” for the purpose of this law. Those agents engaged in activities that are classified as “financial services” pursuant to the tax law are not eligible for the deduction.

The timing of the final rule makes it possible for pass-through entities to take advantage of the deduction in their 2018 tax filings.

This article is a Public Service from PIANC for those who have or had or getting ready to repair or build new home in coastal/inland areas along Eastern/Gulf USA or anywhere from Hurricanes, storms etc., bring your coastal/inland home up to FORTIFIED CONSTRUCTION STANDARDS for about 15% more in building costs.

Now that Hurricanes Florence, Michael, Northeasters have wreaked havoc among our coastal/inland properties, how can property owners repair, rebuild or new home built that can probably withstand these storms? It is called: FORTIFIED HOMES!

For more information on Fortified Construction Standards for New and Existing Buildings/Homes from: Insurance Institute For Business & Home Safety, go to: https://disastersafety.org/fortified/ and look how FORTIFIED CONSTRUCTION STANDARDS can improve your coastal property for about 15% more in costs.

For more information on FORTIFIED HOMES:
Mr. Brent Henzi: bhenzi@ibhs.org or infor@ibhs.org

March 26, 2019

WASHINGTON — TheNational Association of Professional Insurance Agents (PIA National) is pleased by legislation to repeal the Federal Insurance Office (FIO), H.R. 1862, which has been reintroduced in the U.S. House by Rep. Alex Mooney (R-WV).

“The FIO has never been necessary,” said PIA National Vice President of Government Relations Jon Gentile. “Advocates of federal insurance regulation succeeded in getting the FIO established as part of the Wall Street Reform and Consumer Protection Act (Dodd-Frank)—but PIA National has never given up on repealing it.”

“Many of the FIO’s duties are examples of federal overreach in the context of our system of state insurance regulation,” Gentile said. “The FIO has consistently sought new ways to expand its mandate beyond the intent of Congress, which put specific limits on its authority.” PIA National was the first national insurance association to call for the repeal of the FIO.

Over the nearly ten years of its existence, the FIO has called for federal regulation of mortgage insurance; for its inclusion in supervisory colleges with state regulators; and for uniform national standards for state guaranty associations. In addition, it now seeks to administer the National Association of Registered Agents and Brokers (NARAB). Each of these actions is an overreach.

Although PIA has supported other efforts to rein in the FIO, such as the Federal Insurance Office Reform Act of 2018 (H.R. 3861) in the 115th Congress, consumers and those concerned about maintaining the successful state insurance regulatory system would be better served by its repeal.

PIA National worked closely with Rep. Mooney on developing his bill. PIA National will continue this effort by vigorously advocating for Rep. Mooney’s legislation at the upcoming PIA Federal Legislative Summit and throughout the 116th Congress.

Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes, and businesses. PIA members are Local Agents Serving Main Street America. PIA’s web address is www.pianet.com.

Did you know that there is an alternative conservative Association for Seniors 50+ and it is called: Association of Mature American Citizens (AMAC)? My wife and I dumped the “other” Association years ago because of being to liberal and we became a members of AMAC and have better benefits. If any Senior 50+ is interested in becoming a AMAC member:

Mature American Citizens, Inc.
5 Orville Drive #400
Bohemia, NY 11716
1-888-262-2006
www.amac.us

Just an FYI for anyone who is thinking about becoming a AMAC member:
AMACAdvantage Nov/Dec magazine, nice article on: Medicare Supplement Plans: Which is Best for Me?

While some carriers have left the flood insurance market or sold their books of business, we want to assure you that PIA’s national flood partner, The Hartford, is here to stay. The Hartford is one of the largest flood insurance writers in the country, having written flood insurance through FEMA’s National Flood Insurance Program for over three decades.

The Hartford wants to be your go to flood market for both personal lines and commercial lines. Their dedicated flood sales and transfer teams want to earn your business by making it easy to do business and providing exceptional service for both you and your customers.

PIA members that work with The Hartford experience:

An ease of doing business with The Hartford’s easy online quoting and issuing.
Hands on service from a dedicated flood sales executive and transfer specialist.
Free zone determinations.On demand training and continuing education credits.
Competitive PIA member commission rates.

If your agency is searching for a top-notch flood insurance program, please consider PIA’s program with The Hartford, now in its fourteenth year. The program is available to PIA members and their policyholders in all 50 states, the District of Columbia and Puerto Rico.

For more information about the PIA/Hartford flood insurance program, please visit www.pianet.com/hartfordfloodinsurance or contact Joseph M. Surowiecki, Jr. of The Hartford at 860-547-5006 or joseph.surowiecki@thehartford.com.

Seafood Lovers - Seaview Crab Company will ship fresh seafood to your front door!
Check out their Online Seafood Store.
Here is a newsletter that is primarily for insurance women. Go to: www.firestarspeaking.com and order, it is free. Another PIANC benefit for agents and staff.
Here is a financial newsletter that is free for your use. Please go to either www.thedreamspeaker.com or e-mail Joe Murtagh (joe@thedreamspeaker.com) and ask to be put on his mailing list.
For Free Flood Smart News from FEMA/NFIP, go to www.agents.floodsmart.gov. You will need to sign in and you will get free NFIP Newsletter monthly. Very good information. Another PIANC member benefit.
The Insurance Information Institute has designed an easy to use software program to create a room by room inventory of personal possessions. Having an up-to-date home inventory will help your customers. This new software is FREE. You or your clients can go to www.knowyourstuff.org, to find out more. Another PIANC member benefit.

Professional Insurance Agents of North Carolina | PO Box 1387, Davidson, NC 28036
James M Kennedy, Executive Vice President | jim@pianc.net

News & Links

Check out our PIANC e-Newsletters

Join our e-newsletter list

Job Openings and Want Ads

Important Communication for NC Agents from the NC Rate Bureau

N.C. Department of Insurance releases MyDOi app

Floodplain Information for Guilford County Agents

Twenty Percent Tax Deduction Available to Insurance Agents

Fishing Information from NC Wildlife

Get Ready for Hurricanes

Fortified Homes from Hurricanes/Storms

PIA-Backed Bill to Repeal Federal Insurance Office Reintroduced by Rep. Alex Mooney (R-WV)

Association of Mature American Citizens

AmTrust is postitioned to help your agency prosper

Five Smart Reasons to Work With The Hartford for Flood

Are you having a difficult time booking trip/cruise/vacation?

Crop-Hail Insurance

Real Estate Agent Coverage

Long Haul Trucking Coverage

Delicious Seafood

Contact Your NC Government Officials

Some Links