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PIA to Attend Meeting of State Insurance Legislators in Philadelphia

The National Conference of Insurance Legislators (NCOIL), led by their President State Representative Charles Curtiss (TN), will hold its summer meeting in Philadelphia July 11-14...
July 3, 2013

The National Conference of Insurance Legislators (NCOIL), led by their President State Representative Charles Curtiss (TN), will hold its summer meeting in Philadelphia July 11-14. David M. Eppstein, Esq., assistant vice president of regulatory affairs for PIA National, will be there to represent PIA agent interests on a variety of issues.

The Property and Casualty Committee, chaired by State Representative Matt Lehman (IN), will continue its discussion regarding evidence of coverage issues for commercial lenders. Some commercial lenders are seeking alternatives to the current ACORD 28 certificate and ACORD 75 binder as evidence of commercial property coverage when the policy is not yet available. Potential solutions include a so called “enhanced binder” where certain basic coverage information from the certificate could be included on the binder in order to give commercial lenders a bit more coverage information than they currently typically receive. PIA has been working with other agent groups, carrier representatives, lenders and other interested parties through the ACORD process in an attempt to reach an acceptable solution. The NCOIL P&C committee will also discuss ongoing NFIP issues, including federally mandated reform efforts.

On Thursday, July 11, the legislators will host a symposium entitled, “Open for Business: How Will the Health Insurance Exchanges Work?” The symposium is expected to address how consumers will use the exchange, what the role of navigators will be and how agents and brokers will interact with the exchange and consumers. During its last meeting, NCOIL passed a resolution encouraging states to enact legislation governing navigators.

The legislators are also expected to discuss producer licensing including NARAB II’s potential role in streamlining non-resident licensing.

On July 13, the legislators are expected to consider a resolution offered by State Representative Michael Stinziano (OH) in support of extending the Terrorism Risk Insurance Act (TRIA). PIA supports the resolution which asserts that terrorism on U.S. soil is a continued risk, that a public-private mechanism is needed to insure against it, and that failure to extend the Terrorism Risk Insurance Act of 2002, which establishes such a mechanism, could have an adverse impact on the U.S. economy.

The legislators will also consider proposed amendments, sponsored for discussion by Workers Compensation Insurance Committee Chair State Representative Bill Botzow (VT), to a draft Model Act on Workers’ Compensation Coverage for Volunteer Firefighters. The proposed amendments attempt to refine the definition of “volunteer” and address concerns regarding wage replacement. As initially proposed at the spring meeting, the draft model law would create a “public employment” definition that affords eligibility for workers’ comp benefits when a volunteer firefighter performs firefighter-related duties that are not directly related to emergency response. The model also would include a drafting note identifying funding approaches.