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Working with a PIWA member
PIWA wholesalers make a dedicated effort to know the specialty marketplace and its unique procedures. They place large volumes of specialty business and have long-term relationships with specialty markets, providing the retailer with much-needed clout. And PIWA wholesalers subscribe to a high level of professional standards and a code of ethics.
PIWA members have studied the available specialty markets and are conversant with the ins and outs of writing business through specialty and non-admitted companies. They know the markets, and they know the laws and regulations. Many specialty companies ONLY accept business from licensed surplus lines brokers.
PIWA members’ awareness of markets, pricing, applications and underwriting requirements save retail producers time and money, and provide the best service available to the insurance-buying public. Excess line licensees will file the necessary affidavits and surplus lines taxes required by New York state, avoiding penalties for non-compliance of the laws. More …