PIANY Upgrades Comp Program
NU Online News Service, July 29, 11:08 a.m. EDT?The Professional Insurance Agents of N.Y. State Inc. announced major changes to its NumberONE Comp Program, a PIANY-member benefit that allows agents to offer their customers a workers’ compensation insurance product.
The new program features a simplified application process, the Glenmont, N.Y.- based association said. For most submissions, PIANY members only have to complete an ACORD 130 form and the state mandated inclusion or exclusion forms, where applicable. Applicants no longer need to fill out additional questionnaires.
“PIA continues to provide its members with a small, monoline workers’ comp product, for which there is a limited market,” said Loni Swedick-Harvey, member and marketing manager, in a comment about the program by e-mail. “An added bonus to the new program is that it offers a contractor product, which is an under-served market for our members.”
The program offers the availability to write most contractor classes that meet a minimum premium of $6,500.
PIANY said the program is underwritten by three “A” rated or better national carriers, but would not release the names of the carriers for publication due to contractual obligations. Agents earn a commission between five and seven percent on the program.