New York 4-Hour Insurance Requirement

Insurance Law	1
Each Party Has Legal Obligations	1
The Selling Agent or Representative	2
Exceptions to the legal responsibilities	2
Best Interest Obligation	3
NAIC Adopts Best Interest Standards	4
Ethics & Professionalism	6
What Ethical Agents Know	6
Insurance Perceptions	7
Establishing Goals	8
Responsibility & Accountability	9
Example	10
Why Be Ethical?	11
Ethics in the Workplace	12
The Same by Any Name	12
Example	13
The Professional Insurance Representative	14
Companies Set Guidelines	15
If one wishes to preserve ethical behavior	16
Promoting Ethical Behavior	17
Legality is not the Same as Morality	20
Egoism	21
Is it possible to teach ethical behavior to others?	22
What is the scope of ethics?	22
What does it take to be a moral person?	23
Determining the Quality of Work Performed	23
What do individuals want their legacy to be?	23
The Leaders of the Pack	24
Example #1	24
Example #2	25
What is an individual’s responsibility to other moral people?	26
Objectivist Ethics	26
Holding an Ethic Code	27
Courtesy	27
Mores	27
Education/Continuing Education	29
Laying Out Policy Benefits & Limitations	30
Steps that an agent can follow to minimize possible misunderstandings	31
Policy Replacement	32
Allowing Misconceptions is Foolish	32
Obtaining Proper Application Signatures	33
Commingling Funds	34
The Professional	34
Due Diligence	35
There are three reasons to do so	36
A Technical Approach or Common-Sense Approach	37
There can be some problems or limitations to the technical approach	37
A common-sense approach to due diligence	39
Ethical behavior tends to have long-range	42
Selecting Insurers to Represent	43
If It’s Legal	43
A moral dilemma	44
Ethical behavior is practical from the legal standpoint	45
Diversity, Inclusion & Anti-Bias	46
Types of Bias	50
Confirmation Bias	51
Institutionalized Bias	52
Education Systems Try to Teach What Bias Is	53
Even AI Can Promote Bias	54
Long-Range Impacts of Racism or Discrimination of Any Type	54
Reducing Bias in Business	55
Flood Insurance	55
In the Headlines	55
Everything Quickly Becomes History	56
Flood Insurance Rate Map (FIRM)	56
Pre-FIRM/Post-FIRM Defined	57
Base Flood Elevation (BFE)	57
Premium Rates	58
Phase I	58
Phase II	58
What is not changing under Risk Rating 2.0?	59
The Law of Large Numbers	60
NFIP Premiums and Surcharges	62
Increased Cost of Compliance Coverage (ICC)	63
Severe Repetitive Loss Premium (SRL)	63
Premium Subsidies & Cross-Subsidies	63
Pre-FIRM Subsidy	64
Newly Mapped Subsidy	64
Grandfathering	65
How does Risk Rating 2.0 Affect the Grandfathered Rating Discount?	65
Risk Modeling	66
Flood Zones	67
Affordability of Flood Insurance	67
Means-Testing Premium	69
Increasing Participation in the NFIP	70
FEMA & Related Websites	71

Thank you,

United Insurance Educators, Inc.