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Spitzer, Compensation & YOU: Whether We Like It or Not!

On March 31 PIA National will be presenting the first in a three-part teleconference series on what every insurance producer must know about the current...
March 25, 2005

On March 31 PIA National will be presenting the first in a three-part teleconference series on what every insurance producer must know about the current and permanent fallout from the insurance bid rigging findings.

Do you know if your business will be affected by the recent investigations into bid rigging?

Does your agency:

  • Conduct brokered wholesale business?
  • Have multi-state CL business exposures?
  • Do multi-quotes?
  • Broker to residual markets, wholesalers, other retail agencies, or E&S markets?
  • Charge fees (or are you considering fees)?
  • Advertise that it "represents" the insured?

If so, you will definitely be impacted.

The plain truth is, everyone - agents/brokers, small/large - will be affected! And they'll be affected in ways most can't predict. That's because this issue isn't just growing up, it's growing out. Out into other areas of legal compliance.

Regardless of what many might think, no producers are safe just because "My state DOI is not planning to enact the NAIC compensation disclosure model," or "My commissioner has said he has no plan to…" DOIs and legislators are sharing details about transactions and relationships that concern them. Attorneys general continue to file charges. Circumstances keep changing and adding up as this issue evolves.

Are you ready for what's coming next?

PIA Is Here to Help!

PIA's three-part teleconference series, "Spitzer, Compensation & YOU: Whether We Like It or Not!" is designed to help producers like you make sense of what is going on now, what will be going on in the future, and how it will and may affect your practices.

The series kicks off on Thursday, March 31 at 2:00 p.m. Eastern with:

Program #1: "How We ALL Got Here - Why understanding the factual background, process and misdeeds are important to every insurance producer"

Program #1 provides a critical analysis of what has happened so far and explains why this issue affects all producers even in states not addressing the NAIC model.

Programs #2 & 3 will follow and explain how various bodies of law apply to this issue and to producers' practices - and how DOIs are taking notice.

Register

To learn more and to register for Program #1 to be held on Thursday, March 31 at 2:00 p.m. Eastern:

Download a Registration Form (PDF)
Download a Registration Form (Word)

Questions? Contact Alexi Papandon at the National Association of Professional Insurance Agents at 703-518-1353 or alexipa@pianet.org.

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