News & Notes

MARKET SHARE REPORTS

Learn about state-specific P&C trends – and what they could mean for your business – in the newly released P&C Market Share Reports. IA&B member agencies and partner companies have access to Market Share Report summaries, as well as a recorded webinar analysis by Paul Buse that delves into premiums, loss ratios, penetration rates, lines of business rates, surplus lines, distribution styles, top carriers, and commission.

Access to the summaries and webinar analysis are exclusive benefits for employees of IA&B member agencies and partner companies.

IABforME.com/memberresources/#marketplace-summaries

Questions? Contact Claire Pantaloni at ClaireP@IABforME.com or 717-918-9202.

IA&B EDUCATION SCHOLARSHIPS

Congratulations to the fall 2022 IA&B Insurance Education Scholarship recipients!

Full CIC Designation Scholarship

Veronica Martin, Contemporary Insurance, Reading, PA

Full CISR Designation Scholarship

Michael Krzanowski, W.N. Tuscano Agency, Greensburg, PA

Agency Scholarships for CIC

CrossKeys Insurance, Reading, PA

Enders, Harrisburg, PA

Ickes Insurance Group, Boswell, PA

R.C. Chase Insurance Agency, Erie, PA

Stubbs Insurance Associates, Wernersville, PA

Agency Scholarships for CISR

Ferullo Insurance Agencies, West Chester, PA

Murray Insurance Associates, Lancaster, PA

Zinn Insurance, Lebanon, PA

New! Agency Scholarships for CPIA

Diversified Insurance Industries, Hunt Valley, MD

Rossbacher Insurance Group, Corry, PA

Agency Scholarships for CE Webinars

Gerhart, Hartman & Ritner, Boyertown, PA

Liberty Insurance Agency, Pittsburgh, PA

NEW PENNSYLVANIA ANNUITIES COURSES

Do you carry the life line of authority in Pennsylvania? IA&B now offers on-demand annuities training to meet Act 99, which applied a new CE requirement in June 2022. Courses include:

▲ Annuity Best Interest Standards (1 CE)

▲ Concepts & Uses of Annuities (4 CE)

The new CE requirement carries staggered completion dates for licensees. Licensed producers with the authority to sell any type of annuity who have not completed any annuities training must complete the entire, four-hour training by the end of their next complete license period. Those who completed the annuities CE training required before the enactment of Act 99 must retake the modified four-hour training or take the one-hour course by Dec. 20, 2022.

IABforME.online/ondemand

MARYLAND’S NEW ANNUITIES TRAINING REQUIREMENTS

Revised regulations regarding the sale of annuity products in Maryland take effect Oct. 8, 2022. The updates include changes to the continuing education/training requirements for licensed producers who hold a life insurance line of authority and engage in the sale of annuity products.

The completion dates are staggered for licensees. For those who have not completed any annuities training, they have until April 8, 2023 to complete a four-credit course. Licensees who completed a previously approved annuity training course have until April 8, 2023 to complete a new four-credit course or an additional one-credit training.

IA&B will offer on-demand courses to meet the four-credit and one-credit requirements. Watch Agent Headlines e-newsletter for updates, or check our online course listing.

IABforME.online/ondemand

DELAWARE WC RATES POISED TO DROP

The Delaware Compensation Rating Bureau proposed double-digit decreases effect Dec.1, 2022. Filing No. 2202 calls for decreases of -10.96% overall for the voluntary market and -16.14% for the residual market. At the time of this writing, the Department of Insurance was reviewing the filing. Stay tuned to Agent Headlines e-newsletter for updates.