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In response to requests from SWVA independent agents, PIAVA/DC has created an entirely new education venue
specifically for Southwest Virginia that can provide the entire 16-hour P&C CE requirement in just two days at a deeply
discounted PIA member registration fee of under $200. That’s right - all your CE for under $200 in just 2 days.
PIAVA/DC’s first Southwest Virginia Education Expo will be conducted on March 27-28, 2012, at the Skelton Confer-
ence Center and the Inn at Virginia Tech in beautiful Blacksburg, VA. PIAVA/DC’s Education Expo will include 11 hours
of company-sponsored CE classes and 5 hours of PIA-sponsored non-company CE
classes, the latter including a 2-hour Laws & Regulations class taught by the
SCC’s Bureau of Insurance senior staff, and an E&O Loss Prevention Seminar (3
OGI).
Topics for PIA’s CE classes include food spoilage, power outage and business
interruption coverages; earthquake and unusual hazards coverage; unusual ve-
hicular risk & claims; thorny issues with certificates of insurance; flood & water/
sewer backup damage recovery; agency exposures from social media; insuring
wine collections and an agency’s privacy act obligations.
Sponsoring insurance carriers will have tabletop exhibits and their representa-
tives will be available to meet with agents during the two-day Expo. Exclusive
one-day sponsorships are available. Contact PIAVA/DC at 804-264-2682 to learn
more about sponsorship potential.
PIAVA/DC’s Philanthropy Committee has scheduled its annual “Bingo”, a hilari-
ous annual fundraiser reception/dinner event for Special Olympics of Virginia on
the evening of March 27 at the Inn at VA Tech.
PIAVA/DC SWVA Education Expo, March 27-28, Blacksburg
Professional Insurance Agents Association of Virginia & the District of Columbia, Inc. 8751 Park Central Drive, Suite 140
Richmond Virginia, 23227 Web: www.piavadc.com - E-mail: [email protected]
October 28, 2011 Volume 75, No. 10
PIAVA/DC’s last 2011 CIC is Personal Lines, Dec 7, in Richmond Do you need a CIC designation update at a convenient location? Are you planning on starting the Certified Insur-
ance Counselor (CIC) designation series of institutes? Is the Personal Lines CIC one of the last on your list to partici-
pate in? Whatever the reason for your interest in the most sought-after professional insurance designation on the
planet, you should plan to attend the last CIC of the year December 7-10, 2011, at PIAVA/DC Headquarters in Rich-
mond. Register online at www.piavadc.com or call PIA at 804-264-2582 for details.
This PIAVA/DC Personal Lines institute addresses the unique insurance coverage needs of individuals, families, and
family members. You will learn to handle the complexities of Virginia-specific personal lines forms.
Topics covered include Personal Residential Coverages; Personal Automobile; Personal Umbrella/Excess Cover-
ages; Watercraft; Rental Car; Flood; Home-based Businesses; Condominiums; Farm and Ranch Coverages; Mobile
Homes; No Fault (PIP); Catastrophe/Earthquake/Flood, and Wind Pools. Participants will 1) complete an in-depth
study of the ISO Homeowner Policy with emphasis on the HO3 Form; 2) better understand the application of coverages
of a personal auto policy; and 3) obtain an overview of personal umbrella/excess liability coverages including underly-
ing limits and self-insured retention.
PIAVA/DC MEMBER BENEFITS NEWS - October 28, 2011 Page 2
Nolte Law Firm to continue publishing your Regulatory Hot Tips
Since 1999, PIAVA/DC has published a series of Regulatory Hot Tips in its monthly newsletter, like the one on
Pages 7 and 8 in this issue. The concepts and nearly all these articles were created by Attorney JoAnne L. Nolte of
The Nolte Law Firm, P.C. We thought you’d like to know just who Jo Nolte is, so we conducted an investigation to
find out. At the same time, we thought we’d like to hear from each of you about whether you believe we should
continue with publishing our Regulatory Hot Tips. Are they useful for you? Are there particular subjects that you
wish to have information about? Please send all comments or thoughts to [email protected] or call 804-264-2582.
Although Jo Nolte has spearheaded the efforts to make sure a Regulatory Hot Tip appears regularly in the PIA
newsletter, her ‘real job’ is practicing business law from her office on Main Street in Richmond’s Fan District, a loca-
tion that is only a short dash from the Virginia Bureau of Insurance. NolteLaw represents many independent
agents, brokers and underwriting companies, and Jo boasts that she has the best clients in Virginia.
So here’s the scoop on Jo: born Jo Anne Lewis, the daughter of a Virginia State Trooper and a federal govern-
ment employee, Jo’s early years were spent in
Amelia County, VA. After graduation from
Randolph-Macon College and the University of
Richmond Law School, Jo immediately worked as
staff counsel for the Virginia State Corporation
Commission. She’s also been an in-house lawyer
for a national marketing company, and she founded and ran her own Excess & Surplus lines brokerage firm. Jo
says that being an in-house counsel and running her own insurance business gave her a real appreciation for the
issues faced by small businesses, and that these experiences add a different dimension to the way she represents
and works with her clients.
In addition to being an attorney, Jo is also a CLU, CPCU, FLMI, and CIC. Her experience in the insurance mar-
ketplace includes marketing, developing and underwriting insurance programs; interviewing and qualifying insurers
to underwrite unusual insurance programs; founding and operating an insurance agency as well as an E&S lines
insurance agency; regulatory compliance work for various nationwide insurance operations; claims administration
and claims policy development; coverage work; and fraud insurance work. This experience in the insurance indus-
try complements Jo’s traditional legal work. Active in her community, Jo’s hobbies include water sports, snow ski-
ing and reading mystery novels. She has a 90-pound Labradoodle dog by the name of Harvie, and a husband,
Bruce, (who weighs more than 90 pounds).
When you call or walk in the door at NolteLaw, you’re likely to be greeted by Jo’s office administrator, Karen
Berry. Karen always has a smile and a hello for everyone. The news from Karen is that she is planning to return to
college and take classes in the evening to finish her degree.
Garland Carr, who authored this month’s Regulatory Hot Tip, graduated in May 2011 from the University of
Richmond Law School where she was the Managing Editor of the Law Review and a John Marshall Scholar. Garland
recently passed the Virginia Bar Exam, and brings a wonderful perspective to the office environment, having been a
Latin teacher before law school. Garland lives in the Fan District with her husband and three cats, Carbon, Butter-
scotch, and Socks.
NolteLaw assists clients with business formation, acquisitions,
contract negotiations, employment issues, and succession plan-
ning. On the regulatory front, the Firm also helps businesses re-
solve compliance issues, and serves as an advocate for clients fac-
ing possible sanctions from regulatory authorities. Jo says that
NolteLaw’s small size allows her to have a personal relationship
with each client.
If you’re interested in establishing a relationship with a busi-
ness law firm that knows who you are when you call, give Jo Nolte
or Garland Carr a call.
Editor’s Note: Jo volunteers her time to PIA members as one
of 7 local attorneys serving in PIAVA/DC Agency Assist ™ and
has been a real asset to PIA Insurance Services and PIAVA/DC.
PIAVA/DC MEMBER BENEFITS NEWS - October 28, 2011 Page 3
Need to hire? Need a job? Job seekers, employers are here
PIAVA/DC dates to remember...
2012 PIAVA/DC SWVA Education Expo—March 27-28, Skelton Conference
Center and the Inn at Virginia Tech, Blacksburg; 2012 PIAVA/DC Convention
- June 24-26, Hotel Roanoke; 2013 PIAVA/DC Convention - June 23-25, Wil-
liamsburg Lodge; 2014 PIAVA/DC SWVA Education Expo, March - Southwest
VA; 2014 PIAVA/DC Convention - June 22-24, Wyndham, Virginia Beach;
2015 PIAVA/DC Convention - June 28-30, Williamsburg.
Got an agency to sell? These folks are buying…. 1) Agent is buying agencies in Southwest VA as far East as Bedford. Contact 540-493-3913. 2) Buying
agencies; Contact Wm. Boseman. Call 252-537-8338 office, 252-532-1931 cell, e-mail
[email protected]. 3) Buying agencies for cash. Rob Wagner, Brown & Brown - 804-627-1002,
804/433-6379.
Affordable, Insightful & Timely AGENCY EVALUATIONS &
APPRAISALS are just a phone call away: call 757-486-9610.
E-mail [email protected] Target Marketing Management
Consulting Inc. Proudly participating in
PIAVA/DC Agency Assist™
Every agency wants to save money. When you meet any one of the criteria listed below, a 5% credit is applied to your premium – up to a maximum of 10% credit. There is no minimum premium threshold for an account to be eligible for the credit, which will be applied after the application of any schedule rating modifiers. The criteria must be met every year for the credit to be continued. The criteria are: 1) Enactment of an annual exposure analysis program. 2) At least 60% of agency staff achieve recognized designations: CIC, CISR, CPIA, CPSR, ACSR, CPCU. 3) Attendance at an approved E&O seminar within the last 15 months or within the first 30 days after inception date… including CIC Agency Management; CISR Agency Operations; Dynamics of Service, PIA Insurance Services E&O Loss Prevention Seminar or one CPIA class. 4) All required* staff attend a PIAVA/DC-conducted in-house E&O/Loss Prevention Seminar including all internal CSR employees as well as the principle or office manager of the agency.
Qualification by agency size 1-3 staff size 1 principle/office manager or CSR 4-10 staff size 1 principle/office manager and 1 CSR 11-20 staff size 1 principle/office manager and 2 CSR 21+ 20% of staff Call PIA Insurance Services, 804-264-2582 or e-mail [email protected]
CSR needed Hampton, call (757) 722-2889; CL producer needed in Richmond reply at [email protected]
or PO Box 4332, Glen Allen, VA 23958-4332; BOI P&C Division has positions available in the CL Rates &
Forms. Visit the SCC’s Career Center at http://www.scc.virginia.gov/hr/index.aspx for details; P&C producer
wanted for Metlife Fin Serv, Richmond, call 804-582-5880; CL CSR seeks job, 26 yrs exp, Richmond: 804-615-
1502; CL CSR needed in DC agency. Contact Ken at (202) 638-2498; Dillwyn P/T Life & Health Producer
needed, visit www.davidwise.com/careers; Marketing Mgr needed at Brethren Mutual, contact John Stoner at
[email protected]; Richmond producer, 27 yrs P&C/L&H, call 804-592-9072; Roanoke CSR needed, call Jeff
540-776-6401; Adjuster seeks work, Cent VA, 804-448-2586; UR grad seeks ins work, 804-467-4277
[email protected] Leesburg CSR needed, TAM experienced, send resume to [email protected];
F’burg CSR needs work 540-786-3614; NOVA CISR needs work, 757-270-4641; NOVA agency seeks CL agent,
703-840-7979; Winchester agent seeks work, 540-333-2230. CSR needed in Herndon, email résumé to: jcass-
[email protected]; P’ducers needed, F’burg agency, fax: 540-301-6347; CL CSR needed Richmond,
804-672-1038. NOVA producer, 5 yrs agency, 703-608-9357; Agent seeks Richmond job, 25 yrs, 804-716-
1818; CSR needs Richmond job 23 yrs, 804-323-1214. CSR seeks R’mnd job, call 804-652-0131.
by Curtis M. Pearsall, CPCU, AIAF, CPIA, President, Pearsall Associates Inc., Special Consultant to the Utica National E&O Insurance Program
With many industry journals and experts indicating a firming of the marketplace, activity to the Excess
& Surplus Lines marketplace could increase. While this segment of our industry plays a vital role, it is im-
portant to understand the uniqueness it presents. Failure to do so could spell Errors & Omissions trouble.
There are a number of issues to lookout for, so let’s review some of the main ones.
Lack of authority to bind
In the standard marketplace, carriers typically spell out the types and sizes of risks agencies can bind. This adds to
the efficiency of the process. Conversely, in the Excess & Surplus marketplace, accessing these carriers typically re-
quires you to deal with an agency that has an E&S license, traditionally referred to as a wholesaler.
The wholesaler’s job – which most do very well – is to provide your agency with access to additional carriers that
write more specialized risks and potentially some hard-to-place risks. The wholesaler is technically the agent for that
carrier and will have some type of brokerage contract. Your retail agency is not an agent for these carriers and thus
you do not have binding authority. To bind a risk, you would need to advise the wholesaler of your desire that the risk
be bound. In some cases, they may not even have the authority to bind the risk and may need to contact the carrier.
Bottom line: as the retailer, do not advise the client that coverage is bound until you have confirmation from the
wholesaler.
Binding requirements
If you deal with multiple wholesalers, chances are the procedures and expectations to bind among those wholesal-
ers differ. Let’s say you want to bind a risk at 4 p.m. on a Friday. Can you do it or will the wholesaler advise you that
they need premium payment and the necessary affidavit forms before they can bind? Clearly know the rules of en-
gagement when working with wholesalers. Professional wholesalers will make it clear on the proposals what is needed
to bind coverage. Be aware of these “rules” and factor them into your handling of the risk. Look for wholesalers who
will provide you with an account current for your business. This will take away some of the potential headaches.
Classification Limitation endorsement/other unique endorsements
Do you know if the E&S carriers in your state include the Classification Limitation endorsement on their policies?
You need to know because this form has the potential to be your biggest headache.
What this endorsement essentially does is restrict coverage under that policy to only those classifications noted on
the policy. For example, if you insure a painter who only performs inside painting, the coverage would state only
claims arising from inside painting would be covered. If the painter gets the opportunity to paint the outside of a
house, there would be no coverage unless the policy was modified accordingly. Look out for this form and, if it is in-
cluded on that particular policy, advise your customer in writing of this limitation. Explain that if they perform any work
outside the stated classifications, they have no coverage and should contact the agency before undertaking this addi-
tional work.
There is also the possibility the proposal/policy may contain other unique endorsements that could severely limit
the coverage actually provided. Watch for these forms. It is highly recommended advising your client of these various
limiting endorsements or exclusions at proposal time and when you send them the policy. Note in your cover letter to
them that they should read their policy carefully and contact the agency with any questions.
Don’t expect the renewal policy to look like the expiring one – it probably doesn’t
When your E&S accounts come up for renewal, there is a good chance you will need a renewal application as auto-
matic renewals are not the norm on the E&S side. When you receive the renewal proposal from the wholesaler, review
it carefully, identifying any changes or new endorsements being added. When a carrier wants to modify coverage in
the E&S industry they do not need to issue a conditional renewal notice, unlike the standard marketplace. The E&S
carrier may add new exclusions or even reduce the limits.
While it’s hoped they will give you advance notice, they are typically are not required to. It is wise to ask your
Excess & Surplus Lines: uniqueness that could spell E&O trouble
PIAVA/DC MEMBER BENEFITS NEWS - October 28, 2011 Page 4
PIAVA/DC MEMBER BENEFITS NEWS - October 28, 2011 Page 6
Agents: Got an employer-client who wants supplemental health benefits; like cancer; critical illness, accident, or a hospital indemnity coverage for employees, but you have zero time to handle it? Call PIAIS; we have great carriers, like Washington National, and a team of experienced L&H sales agents ready to work for you on sale & enrollment and serious monthly commission in your pocket. Call Sandra Smilek-Edward at PIAIS: 804-264-2582 for info. Give us just one test case. Our agents can help you start a steady revenue stream of new L&H commis-sion that can last. Our PIAIS agents also can handle major medical product sales and enrollments. Call today.
wholesaler ahead of time if they expect any changes on the renewal policy. There is a chance the coverage
changes could be significant. In some cases, the customer may not be agreeable to the changes, so make it part
of your process to contact the client and review the renewal proposal with them to get their approval on whether
they want coverage bound.
No backdating
It is critical that the agency’s staff clearly understands there is no backdating of coverage in the E&S market.
As account executives prioritize their work, special attention should be given to accounts in the E&S market. If
there is an account that renews on a Saturday and you leave the office on Friday not having bound the account,
there is a very good chance that when you call on Monday to bind, the account will be bound as of Monday – once
again, no backdating. If there was a loss over the weekend, there will probably be no coverage in effect. This
could be a significant issue with property coverage.
No Guaranty Fund
With the exception of New Jersey, the State Guaranty Fund does not provide any protection if an E&S carrier
is declared insolvent. As a result – and even for agents in New Jersey – it is highly recommended to know the
financial condition, the A.M. Best rating, of the carrier. When you receive proposals, know who the carrier is. It
may be a new carrier you have never heard of or a carrier you have dealt with. Carrier ratings change, so know
the carrier’s current rating. It is not a bad idea to ask the wholesaler, don’t rely strictly on their feedback. It is
very easy to check carriers’ ratings through the A.M. Best website (www.ambest.com).
Compliance with state regulations on accessing the E&S market
There are a number of states requiring that a risk be declined by a specific number of admitted markets be-
fore business can be placed in the E&S marketplace. In addition, in many states, the account cannot be placed in
the E&S market if there is an admitted market willing to write the risk. It is essential that you comply with these
regulations.
Hard market or soft, E&S can be a tremendous asset to your agency
While the E&S industry has significant uniqueness to it, you will need this side of the industry for certain risks.
Establish a solid relationship with several wholesalers, as no one can do it all – and be on the lookout for the is-
sues discussed above … because an ounce of prevention is worth a pound of cure.
PIAVA/DC James K. Ruble Graduate Seminar attendees will enjoy substantial travel and lodging savings and
reduced time out of the office starting in 2012. The Society of CIC Board of Governors announced a new con-
densed two-day format for James K. Ruble Graduate Seminars beginning next year. The new format will maintain
the same high quality standards and comprehensive curriculum as the previous two-and-a-half-day format.
Graduate Seminars are advanced, specialized education programs for designated CICs and CRMs. Each seminar
enhances designees' level of knowledge about an advanced topic, taking them beyond the information shared in
the Institutes. PIAVA/DC’s James K. Ruble Graduate Seminars offer a variety of agendas based on designee input
for each date and location, allowing participants to tailor their educational experience.
PIAVA/DC has two Ruble Graduate Seminars scheduled in 2012: March 21-22, 2012, in Richmond and Septem-
ber 19-20, 2012, in Virginia Beach. For more information, call PIAVA/DC at 804-264-2582.
Starting Jan, 2012, PIA’s Ruble seminars go to 2 day duration
PIAVA/DC MEMBER BENEFITS NEWS - October 28, 2011 Page 7
Virginia Regulatory Hot Tip 2011 – 4
Certificates of Insurance 101 Millions of certificates of insurance circulate throughout the United States each year,1 but what exactly are they? Who issues them? Who receives them? What information do they contain? Why do we need them? Read on for the answers to these questions and more. A certificate of insurance is a document requested of an insurance company. It is usually prepared by its authorized representative, be it a broker or an agent, as evidence of property or casualty insurance coverage.2 The certificate con-tains a summary of the referenced insurance policy and does not modify or amend the policy.3 When an insured per-son requests a certificate of insurance for a third party, the company or authorized representative issues it directly to the third party, who is called the certificate recipient, certificate requestor, or certificate holder.4 When a third party, such as a government entity or big box company, contracts with a person for a specific contract-ing job, the third party normally will require the person to be covered by insurance.5 To prove he has coverage (or, in other words, in order to get the job), the person requests a certificate of insurance from his insurer.6 There are many scenarios in which this might happen: a building owner might require a tenant to have liability insurance; a building owner might require the mortgagor to have insurance; or an owner of equipment might require the lessee of that equip-ment to provide evidence of coverage. Contractors, temp agencies, and security guard services routinely request cer-tificates of insurance in order to satisfy potential employers’ concerns regarding worker’s compensation insurance.7 A certificate of insurance generally includes the date of issuance, the name of the producer (agent/broker), the name and address of the insured person, the insurance companies providing the coverage, the type of insurance, policy numbers, the effective and expiration dates, the limits carried, a description of activities to which the certificate per-tains, and the name of the certificate holder.8 It is important to note that a certificate of insurance merely verifies that at the date and time of issuance, the listed insurance policy was in force for the named insured.9 In other words, a cer-tificate of insurance does not disclose any changes that may occur in the underlying pol-icy after the issuance of the certificate.10 Each certificate of insurance contains a dis-claimer located conspicuously at the top of the document. The disclaimer notifies the certifi-cate holder that the certificate is issued as a matter of information only and that the certifi-cate does not confer any rights upon the holder.11 It also expressly provides that the certificate does not amend, extend, or alter the coverage of the insured person in the underly-ing policy.12 The disclaimer further advises that the certificate does not create a contract between the insurer(s), their authorized repre-sentative, and the certificate holder.13 Previ-ous forms of the certificate contained a notice of cancellation provision indicating that the company or its authorized representative would endeavor to notify the certificate holder within a specified time period in the event of cancellation of the policy. The elimination of this provision was an unwelcome change for many third-party certificate holders, and their response to the change is causing headaches for everyone involved. Although certificates of insurance are a valuable tool, they are not without important limitations. It is essential for third parties to understand the nature of the certificate. Prob-lems arise when a third party treats the certifi-cate as something other than an informational tool that cannot modify or expand the insured person’s policy.14 Some third parties are de-manding that the authorized representative incorporate certain language into the certifi-
PIAVA/DC MEMBER BENEFITS NEWS - October 28, 2011 Page 8
Please respond with a copy of resume to [email protected].
cate of insurance, such as a notice of cancellation provision, in an attempt to modify the underlying policy. This practice puts pressure on the insured or his representative to ask the company or its authorized representative to include the lan-guage or risk losing the insured’s job opportunity. It also entices the company or its authorized representative to include the language or risk losing an account. In the present economy, the risk of losing a job opportunity or an account is moti-vation enough to at least consider adding the offending language. In addition to being illegal, this creates uncertainty and confusion by including some language in the certificate that actually correlates with the underlying policy and other lan-guage that may be ineffective because it modifies or expands the coverage in the underlying policy. It is this tension be-tween agents trying to serve their clients and third parties demanding changes to the language of the certificates (whether the third parties are representatives of the big box companies or the insured) that sparks the potential for litiga-tion concerning certificates of insurance. Stay tuned for Certificates of Insurance 102. We’ll address these third-party problems in more detail and discuss the different solutions that have been implemented in some states as well as the National Conference of Insurance Legislators’ proposed model law concerning certificates of insurance. 1 David Eppstein, Adam Felton et al., Certificates of Insurance Webinar, National Association of Professional Insurance Agents (July 19, 2011), http://www.pianet.com/IssuesOfFocus/HotIssues/InsuranceBusinessPractices/. 2 Abuse of Certificates of Insurance a Continuing Problem, PIAVA/DC Member Benefit News, July 31, 2011, at 6. 3 Robert E. Keeton, Alan I. Widiss, Insurance Law: A Guide to Fundamental Principles, Legal Doctrines and Commercial Practices 104, § 2.6(a) (1988). 4 Letter from Susan Sallada, BIC Chair, and Andy Harris, BIC Technical WG Chair, to BIC Members (June 28, 2011); Epp-stein, supra, note 1. 5 Eppstein, supra, note 1. 6 Id. 7 d. 8 Id. 9 Letter to BIC Members, supra note 4. 10 Id. 11 Eppstein, supra, note 1. 12 Id. 13 Id. 14 Letter to BIC Members, supra note
This regulatory hot tip is designed to provide accurate and authoritative information about the subject matter cov-ered as of the date of this hot tip. The statutory authority and substantive information contained in this hot tip should be verified as it is subject to change with the passage of time. This hot tip is provided with the understanding that the author is not engaged in rendering legal, accounting, or other professional advice or counsel. If legal advice or other expert assistance is required, the services of a competent professional should be secured. This publication is authored by Garland S. Carr, JD. Garland is a law clerk working with JoAnne L. Nolte, JD, CIC, CPCU, FLMI, CLU, who practices at The Nolte Law Firm, P.C., 1427 W. Main Street, Richmond, VA 23220. NolteLaw offers Solutions for Business—Large and Small and can be reached at: (804) 658-4518. The firm’s practice is concentrated in matters of a general business nature as well as regulated industries and regulatory compli-ance (including telecommunications, insurance, financial, water & sewer, energy-related matters, and government relations). Jo has served as attorney for the Virginia State Corporation Commission and as in-house counsel to a pri-vately owned national corporation. Non-traditionally, Jo owned and operated an insurance surplus lines brokerage agency and an insurance consulting business. Garland, who was a John Marshall Scholar at the University of Richmond T.C. Williams School of Law and recently graduated magna cum laude, joined The Nolte Law Firm, P.C. as a law clerk in 2011. She recently passed the Virginia Bar Exam and is now a licensed attorney.
Continuing Education Courses Through 12/31/2011
DATE COURSE LOCATION VA CE CREDITS
11/3 CISR Dynamics of Service Richmond 7 OGI
11/9 CISR Commercial Property Fredericksburg 8 PC
11/15 CPIA 3—Sustain Success Richmond 7 OGI
11/17 CISR Commercial Property Chesapeake 8 PC
12/1 CISR Personal Auto Roanoke 8 PC
12/7-12/10 CIC Personal Lines Institute Richmond Type Varies
12/14 Errors & Omissions Richmond 3 OGI
12/14 Laws & Regulations Richmond 2 LR
12/14 CISR Commercial Casualty Chantilly 8 PC
Detailed information (cost, class times, etc.) on all of the above courses may be found at www.piavadc.com. To register, simply complete the attached registration form and return to [email protected] or fax to 804-266-1075. You may also register online at www.piavadc.com. Questions? Call 804-264-2582.
PIAVA/DC MEMBER BENEFITS NEWS - October 28, 2011 Page 12
Seven ways to kill your future without even knowing it By John Graham No one needs to be told that doing business today is dramatically different from even a few years ago. In spite of
what may seem so obvious, many continue to cling to a familiar past with nothing less than stubborn tenacity. While it’s
easy to spot others who have fallen behind, it takes almost desperate determination to drown out the noxious notion
that we may be out of sync.
We’re out of luck, however; there’s no more wiggle-room. There’s no pleading for a second chance. Now, it’s only
playing for keeps. While we laud team effort, it becomes clear that individual players are expendable.
Even if we’re good at what we do, we may be undermining ourselves without even knowing it. And, more often than
not, it’s not the big stuff that sinks us. It’s the little telltale things that silently add up until there comes a tipping point.
And then it’s all over. Most of the time we can’t figure out what happened. It wasn’t someone else who had it in for us;
we did ourselves in.
Before saying, “No one needs such a dark dose of pessimism,” consider several thoughts that may help quantify the
idea that our wounds are self-inflicted. Here are just a few:
1. Little words. Big story. One business owner makes it a practice to ask job applicants to include a cover letter
with submitting a resume. “I want to see how many times they use such words as ‘I,’ ‘me’ or ‘my,’” he says. “If these
pronouns jump off the page, this may be a person who lacks self-awareness and quite possibly lacking in self-
confidence.”
If you’re scratching your head and wondering if such an idea is totally off the wall (and even unfair), don’t be too
sure. What the business owner came upon almost intuitively, James W. Pennebaker of the University of Texas at Austin,
arrived at through research, as presented in his book, The Secret Life of Pronouns.
It may be more productive to tune out the big content words (jargon, in particular) and pay closer attention to the
“little words.” They may be telling us a “big” story. Just think of the times you’ve read letters littered with I, me and
my. What do they say about the writer?
2. Inferred incompetence. If a test is needed, here’s a quick one to identify incompetence. Ask someone to pre-
pare a report, develop a meeting agenda, arrange a meeting or write a letter and you’re pleased they embrace the task
with interest and enthusiasm (which is what you want to hear, of course).
“I’ll have it for you tomorrow,” they tell you. And that’s the end. Whatever the agreed upon schedule, nothing hap-
pens. Even two, three or more nudges fail to get a response. Tomorrow never comes.
Eventually, it’s clear that nothing is going to happen. This is a classic case of “inferred incompetence,” a case of per-
formance failure. It’s the perfect way to skewer your own future.
3. Optimism’s false positive. Entrepreneurs and salespeople shun negative thoughts faster than they do a skunk
on the loose.
As far as they’re concerned, it’s always a “done deal,” even though the order isn’t signed or buyer hasn’t said yes.
Optimism keeps them going. They live on the upside. Unfortunately, that’s only part of the story.
In describing a new product, the company official said, “Everyone will want it. This will be the biggest thing that ever
happened to us.” Unfortunately, it’s no more than a poof of dust. It was all down hill from there.
In a study reported in The Journal of Experimental Social Psychology (July 2011), researchers Heather Barry Kappes
and Gabrielle Oettingen point out that fantasizing about something very positive, such as “hitting the numbers,” closing
a huge account or reaching a particular goal can make us feel that we have actually done it. When that happens, we
tend to relax, let up and back off.
The study suggests that too big a dose of optimism causes us to blank out the hurdles, everything that must be
faced if we’re to reach the goal.
4.Blinded by success. Sydney Finkelstein, a management professor at Dartmouth’s Tuck School of Business, was
asked what CEOs who made monumental mistakes have in common. “That unfortunate combination of believing they’ve
got it all figured out while turning a blind eye to early warning signs.”
One of Finkelstein’s examples is Andrew Mason, the CEO of Groupon, who turned down Google’s $6 billion offer for the
company. Not only did he seem to discount the hundreds of mice nibbling away at his cheese, but it would seem he lost
sight of the sick economy, and failed to recognize what consumers wanted next to light their buying imagination. By
mid-2011, Groupon had lost up 50% of its sales and much of its value.
5. Dues paid in full. They say nothing in baseball history comes close to the September 2011 collapse of the Bos-
PIAVA/DC MEMBER BENEFITS NEWS - October 28, 2011 Page 13
ton Red Sox. Amid the “how-did-it-happen” post-mortem speculation, Boston Globe sports writer Nick Cafardo may
have come closest to the explanation.
“This was a team that had no fire. It was a team that had no urgency….It’s a team that needs to be hungry again.” He
then wonders how that happens with a team with monster paychecks and incredible success.
Whatever else it is, it’s the story of what happens to anyone who decides they’ve paid their dues and don’t need to put
in a full day or step up to the plate. That’s just for the rookies.
6.Destructive delusions. If we believe our decisions are well thought out and unquestionably rational, we’re kid-
ding ourselves. One morning a client, who is also the president of his company called and quickly began complaining
about the new iPhone he had been issued. As a confirmed Apple devotee, I instantly found myself arguing with him.
“How could anyone believe that?” I said to myself. After a few minutes of bantering, he said, “You’re an Apple person.
There’s no discussing this with you.” He was right on both accounts.
It happens all the time. In his book, The Believing Brain, Michael Shermer, Ph.D., suggests that the brain develops
patterns that shape the way we perceive reality. But then something interesting occurs. We latch on to any information
that confirms those beliefs and push aside whatever attempts to challenge them. And there’s the rub. Unless we con-
stantly challenge our thinking, what we assume to be rational thought becomes little more than prejudice.
Really, is it possible to believe the Android OS is totally without merit or even a much-disliked politician is without
merit?
7. The ROI card. Businesses can either play or ignore the “ROI card,” depending on the situation. Almost always,
they do it inappropriately. Does anyone believe that HP took the ROI into account when it splurged a billion plus bucks
on Palm. It wanted a tablet product so much, it wrote the check and then scrapped the project less than a year later.
That’s an instance when the ROI card should have been played. But that isn’t what the then CEO wanted to hear. It’s
easy to “overthink” one’s importance in a culture where contrary views aren’t tolerated.
There are other business situations when the “ROI card” deserves being ignored. A good example is a 43-store dry
cleaning chain in the Northeast started an annual drive for winter coats more than 15 years ago. The company cleans
60,000 coats each fall at its own expense and supplies them to community agencies for distribution to babies, kids and
adults.
It also gives more than 250 schools and youth groups the chance to earn special rewards for collecting coats. More
than 150 businesses and organizations also collect coats. Beyond all that, the company partners with a TV station, a
nationally-known furniture company and several radio stations and 100 plus newspapers that help promote the pro-
gram.
Is such a program good business? Probably not, the cost is taken into account. Even so, some bold leader says,
“It’s the right thing to do.” There are occasions companies are best served by failing to play the ROI card.
Anyone of these seven examples can put the future of an individual or an organization in jeopardy, whether
it’s looking beyond an idea’s ROI or moving forward blinded by our success.
John Graham, a marketing and sales consultant and a business writer, lives in Boston. He can be contacted
at 617-774-9759 or [email protected].
PIA National working to resolve problems with certificates PIA National is working to resolve problems with certificates of insurance that have been festering for decades. Prob-lems for agents have increased recently, as non-insurance third parties demand that agents issue certificates of insur-ance that may not accurately reflect the terms of the insurance policy. In an effort to alleviate these problems, the Na-tional Conference of Insurance Legislators (NCOIL) is working with interested parties to enact model legislation for states to use. While many states have passed laws, a lack of uniformity has developed so a model law endorsed by the nation’s insurance legislators would be helpful. “Independent agents are increasingly operating in multiple jurisdictions, so it’s important that we get some uniformity and certainty with respect to certificates of insurance,” said PIA National President-elect Andrew C. Harris at an October 7 NCOIL Property-Casualty Insurance Committee meeting. The NCOIL model addresses PIA’s concerns by clarifying what certificates of insurance are and making it illegal to issue or request a certificate that does not accurately represent the policy terms. Lenders have also expressed concern that they cannot rely on a binder if a policy is not available, because the binder often contains an expiration date. To alleviate this concern, NCOIL may now consider working on a second model based on New York law that makes it clear that a binder is valid until the policy is issued. “Taken together, these two models – one addressing certificates of insurance and the other addressing the binder – may be able to fix three decades of problems,” Harris said. “The leadership of NCOIL with its extensive legislative exper-tise is in a unique position to change confusion into clarity on this issue. PIA commends NCOIL for its leadership and commitment to timely action.”
Did you get your $2,000 of free PIA consulting already this year?
PIAVA/DC MEMBER BENEFITS NEWS - October 28, 2011 Page 14
For several consecutive years, PIAVA/DC has created new services to help its members be more profitable. Many
new offerings focus on professional education, but other new services, like PIAIS’ Life & Health Division in 2009, are
aimed at directly helping agencies to generate new revenue streams and help grow or liquidate their businesses.
Launched in August 2010, PIAVA/DC Agency Assist ™ is designed to help agency owners grow their business and
to prepare for retirement. It’s an exclusive PIAVA/DC member benefit that can help agency owners save money and
resolve agencies problems.
Need tax advice or have a regulatory issue with the BOI? Need an appraisal for a book of business or need to re-
solve a tough employee contract problem? Free help for PIA members is a simple call away...think of PIAVA/DC first
and call 804-264-2582. These services are provided to you exclusively through PIAVA/DC Agency Assist ™, a suite
of PIA professional consultative resources that help PIA member-agents solve everyday agency and personal problems,
including how to grow your agency value, be more profitable and prepare to buy, sell, perpetuate, merge, appraise or
transfer the ownership of an agency business, with the help of experienced professionals in a variety of business pur-
suits. There is no cost to you as PIAVA/DC member; it’s one of the many benefits of your annual PIA membership.
PIAVA/DC Agency Assist ™ offers PIA members a one-hour free consultation per year with each of up to eight
experienced professional practitioners. PIAVA/DC Agency Assist ™ provides one hour per year of local assistance
from one of our seven practicing attorneys each in a different area of the Commonwealth. Additionally, PIAVA/DC offers
one hour per year of free consultation from each of our seven professional service providers, including CPA and tax con-
sultation; agency perpetuation, agency management and workflow analysis; sales and marketing, producer compensa-
tion and productivity analysis; relationship brokerage between agency purchasers and sellers; financing for agency pur-
chases; agency human relations consulting; business planning; agency valuation and insurance agent business coaching
services. All are experts in their fields, and all are a just one phone call away at 804-264-2582. Limit one attorney call
per year. Your one-hour per year per consultant is a $250/hour value. If you take advantage of all 8, that's $2,000 of
free consulting time every year. It’s another value-added benefit of PIAVA/DC membership. For help, call PIAVA/DC at
804-264-2682 or e-mail [email protected] for information on PIAVA/DC Agency Assist ™ and how its team of con-
sulting professionals can help you solve your agency problems.
VA/DC News you can use... PIA’s Young Professionals Council (YPC) plans Tacky Lights Tour - Friday, Dec 2 is the tentative date for the
2011 YPC Tacky (Holiday) Lights Tour of Richmond. All agents are invited to attend this eye-opening event. Regis-
tration is $15 couple or $8 singles for the 2-hour tour and tasty snacks and beverages. Last year, PIA hosted 58 peo-
ple on its 65 passenger bus. Based on the strong early response, we are planning two busses this year. Snacks and
beverages start at 6:30 p.m. at the PIA office and the busses leave at 7:30 p.m., returning at 9:30 for coffee and
warm apple cider. All are welcome.
Harleysville/Nationwide merger progresses - How the impending first quarter 2012 merger with Nationwide will
impact Harleysville's agency force remains in the forefront of many PIAVA/DC members' minds. Concerned PIAVA/DC
members alerted your association to this merger late in September and PIAVA/DC continues to closely monitor the
situation, and the information the carriers provide. A.M. Best placed Harleysville's financial strength rating of "A", and
issuer credit ratings of "a", under review with positive implications and noted the carriers' "geographically comple-
mentary distribution channels." Harleysville RVP Kevin Glancy briefed PIAVA/DC staff on the merger early in October
following Sept 29 news reports that Nationwide would acquire Harleysville. Glancy reported Harleysville had contacted
all its agencies and would conduct a series of meetings in Virginia and DC with agency partners to shed light on the
merger as more specific facts become known. In a recent interview, Harleysville CEO Michael Browne indicated the
move as a win-win for Nationwide. He pointed to independent agency business growth on the East Coast, as well as in
commercial lines. Both Glancy and Browne indicated that not all questions can, and will, be answered immediately.
P/C Profits Tumble in First Half of 2011 - Due to a spike in disasters, private U.S. property/casualty insurers’ net
income after taxes fell to $4.8 billion in first-half 2011 from $16.8 billion in first-half 2010, with insurers’ overall prof-
itability decreasing to 1.7 percent from 6.4 percent. Driving the declines in insurers’ net income and overall rate of
return, were net losses on underwriting which grew to $24.1 billion in first-half 2011 from $5.1 billion in first-half
2010. The combined ratio deteriorated to 110.5 percent for first-half 2011 from 101.7 percent for first-half 2010.
PIAVA/DC MEMBER BENEFITS NEWS - October 28, 2011 Page 15
Congress extends National Flood Ins Program to November 18 The House of Representatives has passed legislation that includes a provision extending the National Flood Insur-
ance Program until November 18. The provision which includes the NFIP extension passed on a vote of 352-66.
“These repetitive short-term reauthorizations, while preferable to allowing the flood insurance program to lapse,
must not be allowed to detract from the goal of enacting reform legislation which provides the certainty of a full five-
year reauthorization,” said Mike Becker, assistant vice president of federal affairs for PIA National. “Such a bill has
already passed in the House on an overwhelming, bipartisan vote. A consensus has already been reached on how to
proceed with NFIP reform and reauthorization. What remains is to work out some comparatively minor details.”
“A parade of short term extensions will not get the job done,” Becker added. “It is absolutely imperative that Con-
gress wisely use the time between now and November 18 to resolve any remaining differences and pass the flood bill.
This year has been a record-setting year for disasters. The federal government issued 85 disaster declarations as of
September 30, breaking the previous annual U.S. record total of 81 set just last year and we still have two months to
go in the hurricane season.”
The House passed H.R. 1309, the “Flood Insurance Reform Act of 2011,” on July 13 by a vote of 406-22. The
companion Senate bill, “The Flood Insurance Reform and Modernization Act,” passed the Banking Committee Septem-
ber 8 and is awaiting floor action.
Utica Mutual competing well for E&O renewals, new business
PIA Insurance Services Inc. was recently made aware of a so-called “rumor” that may have been circulating among
local agents and agencies that currently have their Agents’ E&O insurance with one of PIAIS’ primary carriers, Utica Mu-
tual. Prospective E&O insureds may have also heard this patently false rumor that Utica is declining its renewals. PIAIS
President Gerald F. Hemphill, CIC, LUITCF, said, in a recent memo to PIAIS insured agencies, that … “Unfounded rumors
like this one surface from time to time in the very competitive environment that we work in and we believe it’s appropri-
ate to prove them false immediately.”
“We want to take this opportunity to remind all that Utica Mutual is certainly NOT turning down its E&O renewals. If
you’ve heard this false “rumor,” ignore it. In fact, Utica and PIAIS are aggressively working to retain all our renewals and
generating new business monthly in Virginia and DC. While other E&O carriers operating in Virginia and DC have report-
edly been taking rate and increasing premiums; Utica has not,
and is not, increasing premiums, and in fact, has improved cov-
erages such as EPLI and cyber liability, “ Hemphill said.
Hemphill noted that PIA Insurance Services’ two producers
have a combined 35+ years of total P&C and E&O agency ex-
perience to draw on in meeting individual independent agency
E&O needs. This superior level of client service expertise, com-
bined with additional admitted and E&S market resources for
E&O coverage, makes PIAIS an exceptional resource for all your
Agents’ E&O and commercial umbrella needs.
To confirm, Utica Mutual is NOT dropping its renewals and is
competing aggressively to retain all PIA agent renewals and develop new business. PIA Insurance Services has a number
of additional admitted Agents’ E&O sources that can supplement E&O offerings from Utica Mutual, as needed. One of the
most recent additions being added to your association’s elite group of E&O resources is PIAPRO, the national association’s
own Agents’ E&O company, that is taking applications in Virginia and DC.
Contact Kat Willis or Jeannie Powell at PIAIS at 804-264-2582 if you have any questions, and do continue to rely on
PIA Insurance Services for all your agency E&O needs.
FEMA denies earthquake disaster aid to Virginia FEMA has denied Virginia’s request for aid for individuals whose property was damaged by the Aug. 23 earthquake.
About 1,000 homes in Louisa County were damaged in the quake, including some that are uninhabitable. State officials
estimate the damage at more than $80 million. FEMA has determined that the damage to dwellings “was not of such se-
verity and magnitude as to be beyond the capabilities of the commonwealth, affected local governments and voluntary
agencies,” said agency director W. Craig Fugate, in a letter to Gov. Bob McDonnell. McDonnell said he’s disappointed and
has appealed.
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wn
R
-13
98—
U
pd
ate
to
Re
trospe
ctive
Ra
ting
Pla
n P
ara
me
ters—
Sta
te H
aza
rd G
rou
p R
ela
tivitie
s
Ap
ril 1,
200
9
Ap
pro
ve
d
R-1
39
9—
2
00
9 E
ditio
n to
Re
trosp
ective
Ratin
g P
lan
Ma
nu
al fo
r W
ork
ers
Co
mp
ensa
tio
n a
nd
E
mp
loye
rs L
iab
ility
Insu
ran
ce
Ja
nua
ry 1
, 2
01
0
Ap
pro
ve
d
R-1
40
1—
2
00
9 U
pd
ate
to
Re
tro
sp
ective
Ratin
g P
lan
Pa
ram
ete
rs—
Sta
te H
aza
rd G
rou
p R
ela
tivitie
s,
Revis
ion t
o R
etr
ospe
ctive
Ra
tin
g P
lan
Ma
nu
al 3
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Revis
ion
to
Ba
sic
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nu
al A
pp
en
dix
E
Ap
ril 1,
201
0
Ap
pro
ve
d
R
esid
ua
l M
ark
et
Filin
gs
It
em
Filin
gs
Eff
ec
tive
Da
te
Sta
tus
RM
-W-8
026—
R
ule
4-A—
Work
ers
Com
pen
sa
tio
n I
nsu
rance
Pla
n (
WC
IP)
Ja
nua
ry 1
, 2
00
6
With
dra
wn
R
M-W
-80
27—
R
ule
4-B—
Pro
fessio
na
l E
mplo
ye
r O
rga
niz
ation
(P
EO
) A
rra
ng
em
en
ts
Ja
nua
ry 1
, 2
00
6
With
dra
wn
R
M-W
-80
29—
R
ule
4-D—
Volu
nta
ry C
ove
rage
Assis
tan
ce
Pro
gra
m (
VC
AP
® S
erv
ice
) a
nd
Rela
ted
A
me
ndm
ents
to
Ru
le 4
-A-W
CIP
Ju
ly 1
, 2
006
With
dra
wn
RM
-03
-VA
-20
06—
V
irg
inia
Work
ers
Com
pe
nsa
tion
In
su
rance
Pla
n (
WC
IP)
Ca
nce
llatio
n R
ule
Re
qu
irem
en
ts
Ja
nua
ry 1
, 2
00
7
Ap
pro
ve
d
RM
-01
-VA
-20
07—
R
ule
4-A—
Work
ers
Com
pen
sa
tio
n I
nsu
rance
Pla
n (
WC
IP)
Octo
be
r 1
, 20
07
W
ith
dra
wn
R
M-W
-80
32—
E
sta
blis
hm
en
t of
the N
ation
al W
ork
ers
Com
pe
nsa
tio
n R
ein
su
ran
ce
Associa
tio
n N
FP
(N
WC
RA
or
Asso
cia
tion
) an
d th
e N
atio
nal W
ork
ers
Co
mp
ensa
tio
n R
ein
su
ran
ce
Associa
tio
n
NF
P B
yla
ws o
f 200
9
Ja
nua
ry 1
, 2
00
9
With
dra
wn
RM
-01
-VA
-20
08—
R
ule
4-A—
Work
ers
Com
pen
sa
tio
n I
nsu
rance
Pla
n (
WC
IP)
Ja
nua
ry 1
, 2
00
9
Ap
pro
ve
d
RM
-02
-VA
-20
09—
R
evis
ion o
f R
ule
4-A
Work
ers
Com
pe
nsa
tio
n I
nsu
rance
Pla
n (
WC
IP)
Ja
nua
ry 1
, 2
00
9
Ap
pro
ve
d
RM
-03
-VA
-20
09—
E
sta
blis
hm
en
t of
the N
ation
al W
ork
ers
Com
pe
nsa
tio
n R
ein
su
ran
ce
Associa
tio
n N
FP
(N
WC
RA
or
Asso
cia
tion
) an
d th
e N
atio
nal W
ork
ers
Co
mp
ensa
tio
n R
ein
su
ran
ce
Associa
tio
n
NF
P B
yla
ws o
f 200
9
Ja
nua
ry 1
, 2
01
0
Ap
pro
ve
d
RM
-W-8
033—
E
sta
blis
hm
en
t of
Ba
sic
Ma
nu
al R
ule
4-E–
Assig
ne
d
Ris
k A
dju
stm
en
t P
rog
ram
(A
RA
P)
Ja
nua
ry 1
, 2
01
0
Ap
pro
ve
d
RM
-W-8
034—
E
sta
blis
hm
en
t of
Ba
sic
Ma
nu
al R
ule
4-F–
Ta
ke O
ut
Cre
dit P
rog
ram
Ja
nua
ry 1
, 2
01
0
Ap
pro
ve
d
RM
-W-8
041—
R
evis
ions o
f B
asic
Ma
nu
al R
ule
s 4
-A a
nd
4-B
Ju
ly 1
, 2
011
Pe
nd
ing
NO
TE:
Ch
ange
in s
tatu
s an
d n
ew f
ilin
gs in
dic
ate
d in
bo
ld t
est
O
cto
ber
14
, 2
01
1
S
tate
Sp
ecia
l F
ilin
gs
Ite
m F
ilin
gs
E
ffe
cti
ve
Da
te
Sta
tus
03
-VA
-20
05—
V
irg
inia
Work
ers
Com
pe
nsa
tion
Sta
tistica
l P
lan
Up
date
Ja
nua
ry 1
, 2
00
6
Ap
pro
ve
d
04
-VA
-90
05—
T
err
ori
sm
Ris
k I
nsu
rance
Exte
nsio
n A
ct o
f 2
00
5
Ja
nua
ry 1
, 2
00
6
Ap
pro
ve
d
01
-VA
-20
06—
V
irg
inia
Exp
eri
en
ce
Ra
tin
g P
lan–
Com
pro
mis
e S
ettle
me
nts
M
ay 1
, 2
00
6
Ap
pro
ve
d
03
-VA
-20
06—
V
irg
inia
Sta
te R
ule
Sp
ecia
ls–W
rap
Up
Con
str
uctio
n P
roje
cts
and
Tre
atm
en
t o
f L
imite
d
Lia
bili
ty C
om
pan
ies
Ju
ly 1
, 2
006
Ap
pro
ve
d
04
-VA
-20
06—
B
asic
Ma
nu
al fo
r W
ork
ers
Com
pe
nsa
tio
n a
nd
Em
plo
ye
rs L
iab
ility–
Scop
es o
f B
asic
M
an
ua
l C
lassific
atio
ns
Ap
ril 20
06
Ed
itio
n
With
dra
wn
01
-VA
-20
07—
B
asic
Ma
nu
al fo
r W
ork
ers
Com
pe
nsa
tio
n a
nd
Em
plo
ye
rs L
iab
ility–
Scop
es o
f B
asic
M
an
ua
l C
lassific
atio
ns
Ap
ril 1,
200
7
Ap
pro
ve
d
02
-VA
-20
07—
R
evis
ions t
o V
irgin
ia C
on
tra
ctin
g C
lassific
atio
n P
rem
ium
Adju
stm
en
t P
rog
ram
and
V
irg
inia
Co
ntr
actin
g C
lassific
atio
n P
rem
ium
Cre
dit A
pp
lica
tion
A
pri
l 1,
200
8
Ap
pro
ve
d
03
-VA
-20
07—
E
limin
atio
n o
f th
e M
an
ua
l o
f U
nd
erg
rou
nd
Co
al M
ine
Ru
les
Ap
ril 1,
200
8
With
dra
wn
0
4-V
A-2
007—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
s
Ap
ril 1,
200
8
Ap
pro
ve
d
05
-VA
-20
07—
T
err
ori
sm
Ris
k I
nsu
rance
Pro
gra
m R
eau
tho
riza
tion
Act o
f 200
7
Ja
nua
ry 1
, 2
00
8
Ap
pro
ve
d
06
-VA
-20
07—
T
err
ori
sm
Ris
k I
nsu
rance
Pro
gra
m R
eau
tho
riza
tion
Act o
f 200
7 E
ndo
rsem
ents
Ja
nua
ry 1
, 2
00
8
Ap
pro
ve
d
02
-VA
-20
08—
C
ata
str
op
he P
rovis
ions M
isce
llan
eou
s V
alu
es,
Ru
les a
nd
Sta
tistica
l C
ode
s
Se
pte
mb
er
1,
200
8
With
dra
wn
0
3-V
A-2
008—
C
ata
str
op
he P
rovis
ions F
orm
s
Se
pte
mb
er
1,
200
8
Ap
pro
ve
d
03
-VA
-20
08
(A)—
A
me
ndm
ent
to Ite
m 0
3-V
A-2
00
8—
Cata
str
oph
e P
rovis
ion
Form
s
Se
pte
mb
er
1,
200
8
Ap
pro
ve
d
04
-VA
-20
08—
A
me
nde
d C
ata
str
op
he P
rovis
ion
R
ule
s a
nd
Sta
tistica
l C
od
es
Se
pte
mb
er
1,
200
8
Ap
pro
ve
d
05
-VA
-20
08—
V
irg
inia
Dis
pu
te R
eso
lutio
n P
rocess
Ja
nua
ry 1
, 2
00
9
Ap
pro
ve
d
06
-VA
-20
08—
S
tatistica
l P
lan
fo
r W
ork
ers
Com
pe
nsa
tio
n a
nd
Em
plo
ye
rs L
iab
ility
Ja
nua
ry 1
, 2
00
9
Ap
pro
ve
d
07
-VA
-20
08—
R
evis
ions t
o t
he C
lassific
ation
Tre
atm
en
t o
f A
mb
ula
nce
Se
rvic
e C
om
pa
nie
s a
nd
E
me
rgen
cy M
ed
ica
l S
erv
ice P
rovid
ers
A
pri
l 1,
200
8
Ap
pro
ve
d
01
-VA
-20
10—
E
limin
atio
n o
f th
e M
an
ua
l o
f U
nd
erg
rou
nd
Co
al M
ine
Ru
les
Ap
ril 1,
201
1
With
dra
wn
0
2-V
A-2
010—
E
limin
atio
n o
f th
e M
an
ua
l o
f U
nd
erg
rou
nd
Co
al M
ine
Ru
les
Ap
ril 1,
201
1
Ap
pro
ve
d
*
Eff
ective
fo
r e
xp
eri
en
ce r
ating
mod
ific
atio
ns w
ith
ra
tin
g e
ffective
da
tes o
f M
ay 2
7,
20
02
thro
ug
h J
une
12,
200
7
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s o
f 0
3/1
5/2
01
1,
NC
CI h
as r
eq
ueste
d a
re
vis
ed
eff
ective
da
te o
f 0
7/0
1/2
01
2.
NO
TE:
Ch
ange
in s
tatu
s an
d n
ew f
ilin
gs in
dic
ate
d in
bo
ld t
est
Oct
ob
er 1
4, 2
01
1
S
tatu
s o
f N
CC
I F
ilin
gs—
Dis
tric
t o
f C
olu
mb
ia
C
on
tact:
L
ori
Lo
vg
ren
S
tate
Rela
tio
ns
561-8
93-3
337
B
asic
Ma
nu
al
Filin
gs
Ite
m F
ilin
gs
Eff
ec
tive
Da
te
Sta
tus
B-1
40
4—
B
asic
Ma
nu
al R
evis
ion
to
Appe
nd
ix E
--T
ab
le o
f C
lassific
ation
s b
y H
aza
rd G
rou
p
Ja
nua
ry 1
, 2
00
8
Ap
pro
ve
d
B-1
40
5—
T
err
ori
sm
Ris
k I
nsu
rance
Pro
gra
m R
eau
tho
riza
tion
Act o
f 200
7
Ja
nua
ry 1
, 2
00
8
Ap
pro
ve
d
B-1
40
6—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
s a
nd
Rule
s
Ap
ril 1,
200
9
Ap
pro
ve
d
B-1
40
7—
C
ata
str
op
he P
rovis
ions M
isce
llan
eou
s V
alu
es,
Ru
les a
nd
Sta
tistica
l C
ode
s
Se
pte
mb
er
1,
200
8
Ap
pro
ve
d
B-1
40
8—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
s a
nd
Rule
s
No
ve
mb
er
1,
201
0
Ap
pro
ve
d
B-1
40
9—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
s a
nd
Ap
pe
nd
ix E–
Cla
ssific
atio
ns b
y H
aza
rd
Gro
up
N
ove
mb
er
1,
201
1
Ap
pro
ve
d
B-1
41
0—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
s a
nd
Ap
pe
nd
ix E–
Cla
ssific
atio
ns b
y H
aza
rd
Gro
up
N
ove
mb
er
1,
201
0
Ap
pro
ve
d
B-1
41
1—
R
evis
ions t
o B
asic
Ma
nu
al In
tro
du
ctio
n–
Ap
plic
ation
of M
an
ua
l R
ule
s a
nd
Pa
rt T
wo–
Cla
ssific
atio
ns
Ap
ril 1,
200
9
Ap
pro
ve
d
B-1
41
2—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
s a
nd
Ap
pe
nd
ix E
– C
lassific
atio
ns b
y H
aza
rd
Gro
up
N
ove
mb
er
1,
201
1
Ap
pro
ve
d
B-1
41
3—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
s a
nd
Ap
pe
nd
ix E
– C
lassific
atio
ns b
y H
aza
rd
Gro
up
N
ove
mb
er
1,
201
1
Ap
pro
ve
d
B-1
41
4—
R
evis
ions t
o B
asic
Ma
nu
al R
ule
3-A–
Exp
lan
atio
n a
nd
App
lica
tio
n
Ja
nua
ry 1
, 2
01
0
Ap
pro
ve
d
B-1
41
5—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
s,
Ru
les,
an
d A
pp
en
dix
E –
Cla
ssific
atio
ns b
y
Haza
rd G
rou
p
No
ve
mb
er
1,
201
1
Ap
pro
ve
d
B-1
41
6—
R
evis
ions t
o B
asic
Ma
nu
al R
ule
3-A
-3-b–
Cance
llatio
n
Pro
vis
ion
s T
ab
le 4
Ja
nua
ry 1
, 2
01
0
Ap
pro
ve
d
B-1
41
7—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
s a
nd
Rule
s
No
ve
mb
er
1,
201
1
Ap
pro
ve
d
B-1
41
8—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
s fo
r A
ir T
raffic
Con
tro
llers
Un
de
r C
on
tra
ct
with
th
e F
AA
Ja
nua
ry 1
, 2
01
0
Ap
pro
ve
d
B-1
41
9—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
s a
nd
Ap
pe
nd
ix E
– C
lassific
atio
ns b
y H
aza
rd
Gro
up
N
ove
mb
er
1,
201
2
Ap
pro
ve
d
B-1
42
0—
R
evis
ions t
o B
asic
Ma
nu
al R
ule
2-E
-1-B—
Exe
cu
tive
Off
ice
rs P
rem
ium
De
term
ina
tio
n, 2
-E
-3—
Pa
rtn
ers
an
d S
ole
Pro
prie
tors
, a
nd C
rea
tio
n o
f A
ppe
ndix
F
No
ve
mb
er
1,
201
0
Ap
pro
ve
d
B-1
42
1—
R
evis
ions t
o B
asic
Ma
nu
al P
art
Tw
o—
Cla
ssific
ation
s a
nd
Pa
rt F
ou
r—C
lassific
atio
ns
Pe
nd
ing
Ja
nua
ry 1
, 2
01
1
Ap
pro
ve
d
B-1
42
2—
R
evis
ions t
o M
isce
llan
eo
us V
alu
es P
ayro
ll D
ete
rmin
ation
Fo
rmu
la f
or
Cod
es 7
370
, 91
78
, 9
17
9, a
nd
91
86
and
Re
vis
ions t
o B
asic
M a
nn
ua
l A
pp
end
ix F
N
ove
mb
er
1,
201
1
Ap
pro
ve
d
B-1
42
3—
W
ith
dra
wa
l o
f E
x-M
ed
ica
l C
ove
rag
e
No
ve
mb
er
1,
201
2
Ap
pro
ve
d
B-1
42
4—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
Co
de
771
1–
Fir
efig
hte
rs &
Dri
ve
r –
Vo
lun
tee
r a
nd
Dis
con
tin
ua
tio
n o
f S
tatistica
l C
od
e 9
21
9–
Vo
lun
tee
r F
irefig
hte
rs–
Hea
dco
unt
Se
pte
mb
er
1,
201
1
Ap
pro
ve
d
B-1
42
5—
R
evis
ion
s t
o E
mp
loye
rs L
iab
ilit
y a
nd
Ad
mir
alt
y o
r F
EL
A C
ove
rag
e I
nc
reas
ed
Lim
its
P
erc
en
tag
es
an
d F
ac
tors
J
an
ua
ry 1
, 2
01
3
Ap
pro
ve
d
NO
TE:
Ch
ange
in s
tatu
s an
d n
ew f
ilin
gs in
dic
ate
d in
bo
ld t
est
Oct
ob
er 1
4, 2
01
1
E
xp
eri
en
ce R
ati
ng
Pla
n M
an
ual
Filin
gs
It
em
Filin
gs
E
ffe
cti
ve
Da
te
Sta
tus
E-1
40
0—
E
xclu
sio
n o
f C
ata
str
op
he
Lo
sse
s f
rom
Exp
eri
ence
Ra
tin
g
* A
pp
rove
d
E-1
40
1—
R
evis
ion t
o E
xp
eri
ence
Ra
tin
g P
lan
Ma
nu
al R
ule
1-D
-4 R
ela
ted
to
Work
sh
ee
t D
istr
ibu
tio
n
Ju
ly 1
, 2
011
Ap
pro
ve
d
E-1
40
2—
R
evis
ions t
o t
he E
xp
eri
en
ce
Ra
tin
g P
lan P
rim
ary
/Exce
ss S
plit
-Po
int
Va
lue
and
Ma
xim
um
D
eb
it M
od
ific
atio
n
No
ve
mb
er
1,
201
3
Ap
pro
ve
d
Po
lic
y F
orm
s F
ilin
gs
It
em
Filin
gs
E
ffe
cti
ve
Da
te
Sta
tus
P-1
40
5—
T
err
ori
sm
Ris
k I
nsu
rance
Pro
gra
m R
eau
tho
riza
tion
Act o
f 200
7 E
ndo
rsem
ents
Ja
nua
ry 1
, 2
00
8
Ap
pro
ve
d
P-1
40
6—
W
ith
dra
wa
l o
f E
ndo
rsem
en
t W
C 0
0 0
1 1
3 A
an
d R
evis
ion
s to E
nd
ors
em
en
ts W
C 0
0 0
4
21
B a
nd
WC
00
04 2
2
Se
pte
mb
er
1,
200
8
Ap
pro
ve
d
P-1
40
7—
R
evis
ed
Re
tro
sp
ective
Ra
tin
g P
lan
End
ors
em
en
ts
Ja
nua
ry1
, 2
01
0
Ap
pro
ve
d
P-1
40
8—
R
evis
ion t
o F
orm
s M
an
ua
l o
f W
ork
ers
Com
pe
nsa
tio
n a
nd
Em
plo
ye
rs L
iab
ility
Insu
ran
ce
Ju
ly 1
, 2
011
**
Ap
pro
ve
d
P-1
40
9—
W
ith
dra
wa
l o
f E
x-M
ed
ica
l C
ove
rag
e E
nd
ors
em
en
ts W
C 0
0 0
3 0
6 a
nd
WC
00
03
07
N
ove
mb
er
1,
201
1
Ap
pro
ve
d
Re
tro
sp
ec
tive
Rati
ng
Pla
n F
ilin
gs
Ite
m F
ilin
gs
E
ffe
cti
ve
Da
te
Sta
tus
R-1
39
6—
2
00
7 U
pd
ate
to
Retr
osp
ective
Ratin
g P
lan
Pa
ram
ete
rs
Ja
nua
ry 1
, 2
00
8
Ap
pro
ve
d
R-1
39
7—
U
pd
ate
to
Re
trospe
ctive
Ra
ting
Pla
n P
ara
me
ters—
Exce
ss L
oss F
acto
rs
No
ve
mb
er
1,
200
8
With
dra
wn
R
-13
98—
U
pd
ate
to
Re
trospe
ctive
Ra
ting
Pla
n P
ara
me
ters—
Sta
te H
aza
rd G
rou
p R
ela
tivitie
s
Ja
nua
ry 1
, 2
00
9
Ap
pro
ve
d
R-1
39
9—
2
00
9 E
ditio
n to
Re
trosp
ective
Ratin
g P
lan
Ma
nu
al fo
r W
ork
ers
Co
mp
ensa
tio
n a
nd
E
mp
loye
rs L
iab
ility
Insu
ran
ce
Ja
nua
ry 1
, 2
01
0
Ap
pro
ve
d
R-1
40
0—
2
00
9 U
pd
ate
to
Re
tro
sp
ective
Ratin
g P
lan
Pa
ram
ete
rs—
Exce
ss L
oss F
acto
rs
No
ve
mb
er
1,
200
9
Ap
pro
ve
d
R-1
40
1—
2
00
9 U
pd
ate
to
Re
tro
sp
ective
Ratin
g P
lan
Pa
ram
ete
rs—
Sta
te H
aza
rd G
rou
p R
ela
tivitie
s,
Revis
ion t
o R
etr
ospe
ctive
Ra
tin
g P
lan
Ma
nu
al 3
-F,
Revis
ion
to
Ba
sic
Ma
nu
al A
pp
en
dix
E
Ja
nua
ry 1
, 2
01
0
Ap
pro
ve
d
R-1
40
2—
2
01
1 U
pd
ate
to
Retr
osp
ective
Ratin
g P
lan
Pa
ram
ete
rs—
Exce
ss L
oss F
acto
rs—
an
d
Upd
ate
to
Basic
Ma
nu
al A
ppen
dix
E
No
ve
mb
er
1,
201
1
Ap
pro
ve
d
R-1
40
3—
2
01
1 U
pd
ate
to
Re
tro
sp
ective
Ratin
g P
lan
Pa
ram
ete
rs–
Exp
ecte
d L
oss R
an
ges a
nd
S
tate
Ha
za
rd G
rou
p D
iffe
rentia
ls–a
nd
Cre
atio
n o
f R
etr
osp
ective
Ra
ting
Pla
n M
an
ua
l A
pp
en
dix
D
No
ve
mb
er
1,
201
2
Ap
pro
ve
d
R
esid
ua
l M
ark
et
Filin
gs
Ite
m F
ilin
gs
E
ffe
cti
ve
Da
te
Sta
tus
RM
-W-8
030—
R
evis
ion t
o F
orm
s M
an
ua
l o
f W
ork
ers
Com
pe
nsa
tio
n a
nd
Em
plo
ye
rs L
iab
ility
Insu
ran
ce
Ja
nua
ry 1
, 2
00
8
Ap
pro
ve
d
RM
-W-8
032—
E
sta
blis
hm
en
t of
the N
ation
al W
ork
ers
Com
pe
nsa
tio
n R
ein
su
ran
ce
Associa
tio
n N
FP
(N
WC
RA
or
Asso
cia
tion
) an
d th
e N
atio
nal W
ork
ers
Co
mp
ensa
tio
n R
ein
su
ran
ce
Associa
tio
n
NF
P B
yla
ws o
f 200
9
Ja
nua
ry 1
, 2
00
9
Ap
pro
ve
d
NO
TE:
Ch
ange
in s
tatu
s an
d n
ew f
ilin
gs in
dic
ate
d in
bo
ld t
est
Oct
ob
er 1
4, 2
01
1
Re
sid
ua
l M
ark
et
Filin
gs(c
on
t.)
RM
-W-8
033—
E
sta
blis
hm
en
t of
Ba
sic
Ma
nu
al R
ule
4-E–
Assig
ne
d
Ris
k A
dju
stm
en
t P
rog
ram
(A
RA
P)
Ja
nua
ry 1
, 2
01
0
Ap
pro
ve
d
RM
-W-8
034—
E
sta
blis
hm
en
t of
Ba
sic
Ma
nu
al R
ule
4-F–
Ta
ke O
ut
Cre
dit P
rog
ram
Ja
nua
ry 1
, 2
01
0
Ap
pro
ve
d
RM
-W-8
035—
W
ork
ers
Com
pe
nsa
tio
n In
su
ran
ce
Pla
n (
WC
IP)
Loss S
en
sitiv
e R
ating
Pla
n (
LS
RP
) B
asic
M
an
ua
l R
ule
4-C
En
ha
ncem
en
ts
Ja
nua
ry 1
, 2
01
1
Ap
pro
ve
d
RM
-W-8
036—
E
nh
ance
me
nts
to
LS
RP
End
ors
em
en
ts W
C 0
0 0
4 1
7 A
an
d W
C 0
0 0
4 1
8 E
an
d
With
dra
wa
l o
f L
SR
P E
nd
ors
em
en
ts W
C 0
0 0
4 2
3 A
, W
C 3
2 0
4 0
1, W
C 4
3 0
4 0
2, a
nd
WC
3
6 0
4 0
7
Ja
nua
ry 1
, 2
01
1
Ap
pro
ve
d
RM
-W-8
038—
E
sta
blis
hm
en
t of
Ba
sic
Ma
nu
al R
ule
4-G–
Ava
ilab
le C
ove
rage
s
Ja
nua
ry 1
, 2
01
2
Ap
pro
ve
d
RM
-W-8
039—
E
sta
blis
hm
en
t of
Ba
sic
Ma
nu
al R
ule
4-H–
Pro
du
ce
r F
ees
Ja
nua
ry 1
, 2
01
2
Ap
pro
ve
d
RM
-W-8
041—
R
evis
ions t
o B
asic
Ma
nu
al R
ule
s 4
-A a
nd
4-B
Ju
ly 1
, 2
011
Ap
pro
ve
d
Un
it S
tati
sti
cal P
lan
Filin
gs
Ite
m F
ilin
gs
E
ffe
cti
ve
Da
te
Sta
tus
U-1
39
7—
S
tatistica
l P
lan
fo
r W
ork
ers
Com
pe
nsa
tio
n a
nd
Em
plo
ye
rs L
iab
ility
In
su
rance
S
ep
tem
be
r 1
, 2
00
8
Ap
pro
ve
d
Sta
te S
pecia
l F
ilin
gs
Ite
m F
ilin
gs
E
ffe
cti
ve
Da
te
Sta
tus
01
-DC
-20
08—
D
istr
ict
of C
olu
mb
ia D
isp
ute
Re
so
lution
Pro
ce
ss
Se
pte
mb
er
1,
200
8
Ap
pro
ve
d
01
-DC
-20
10—
R
evis
ions t
o B
asic
Ma
nu
al C
lassific
ation
s fo
r D
om
estic S
erv
ice
Work
ers–
Insid
e–
Ph
ysic
al
Assis
tan
ce–
Con
su
me
r D
irecte
d P
rog
ram
s a
nd A
pp
en
dix
E–
Cla
ssific
atio
ns b
y H
aza
rd
Gro
up
No
ve
mb
er
1,
201
0
Ap
pro
ve
d
Ra
te F
ilin
g A
cti
vit
y
Ite
m F
ilin
gs
E
ffe
cti
ve
Da
te
Sta
tus
V
olu
nta
ry P
ure
Pre
miu
m L
oss C
osts
an
d R
ating
Va
lue
s (
-14
.4%
) N
ove
mb
er
1,
200
8
Ap
pro
ve
d
A
ssig
ne
d R
isk R
ate
s a
nd
Ra
tin
g V
alu
es (
-15
.8%
) N
ove
mb
er
1,
200
8
Ap
pro
ve
d
V
olu
nta
ry P
ure
Pre
miu
m L
oss C
osts
an
d R
ating
Va
lue
s (
-3.3
%)
No
ve
mb
er
1,
200
9
Ap
pro
ve
d
A
ssig
ne
d R
isk R
ate
s a
nd
Ra
tin
g V
alu
es (
1.1
%)
No
ve
mb
er
1,
200
9
Ap
pro
ve
d
V
olu
nta
ry P
ure
Pre
miu
m L
oss C
osts
an
d R
ating
Va
lue
s (
-5.3
%)
No
ve
mb
er
1,
201
0
Ap
pro
ve
d
A
ssig
ne
d R
isk R
ate
s a
nd
Ra
tin
g V
alu
es (
3.1
%)
No
ve
mb
er
1,
201
0
Ap
pro
ve
d
V
olu
nta
ry P
ure
Pre
miu
m L
oss C
osts
an
d R
ating
Va
lue
s (
6.2
%)
No
ve
mb
er
1,
201
1
Ap
pro
ve
d
A
ssig
ne
d R
isk R
ate
s a
nd
Ra
tin
g V
alu
es (
4.3
%)
No
ve
mb
er
1,
201
1
Ap
pro
ve
d
*
Eff
ective
fo
r e
xp
eri
en
ce r
ating
mod
ific
atio
ns w
ith
ra
tin
g e
ffective
da
tes o
f M
ay 2
7,
20
02
thro
ug
h J
une
12,
200
7
**A
s o
f 0
3/1
5/2
01
1,
NC
CI h
as r
eq
ueste
d a
re
vis
ed
eff
ective
da
te o
f 0
7/0
1/2
01
2.
