PIA Weekly Industry News
Jul. 16, 2014

Health insurers to refocus marketing efforts to reach uninsured
As media interest in health insurance exchanges decreases over time, the insurance industry will need to develop more effective communications to reach the uninsured. More than half of previously uninsured Americans who shopped for health insurance under the Affordable Care Act say they first heard about the marketplaces through the news media, while only 4 percent learned about them in a notification from a state or federal agency, finds a new enrollment satisfaction survey from J.D. Power.More

Free Affordable Care Act webinar for PIA members

Do you sell health insurance as part of your business? Or, are you thinking of heading that direction? The U.S. Department of Health and Human Services will be conducting an Affordable Care Act webinar for PIA members wanting to participate in a Federally-facilitated Marketplace for the 2015 plan year. The webinar is from 3-4:30 p.m. EDT, Aug. 12. This is a non-CE webinar.More

PIA National's Webb on NIPR board

The National Insurance Producer Registry has appointed Jenn Webb, Esq., as the National Association of Professional Insurance Agents representative on the NIPR Board of Directors.More

Around the PIA Western Alliance States


Update: The raging cybersecurity battle

As we all know, cybersecurity is becoming a huge problem in the U.S. The threat of attacks by hackers stretch from government to businesses to individuals and their personal computers. And these criminals are growing more and more successful and more and more dangerous by the day.More

Small business and the Affordable Care Act

The final regulations for tax credits for small businesses offering health insurance to employees have been set by the Internal Revenue Service. The first thing the IRS did was define small business. To do so, it follows the law. An employer with 25 or fewer full-time employees is considered a small business under the regulations.More

TRIA: The push to get it extended

Congress still has a couple of weeks left before the annual August recess. Once its back from the recess, there will be some time to pass legislation, but not much before breaking again for the upcoming — and very important — November elections.More

NFIP issues flood refunds, explains changes

The Federal Emergency Management Agency and the National Flood Insurance Program have issued their first set of instructions on premium refunds demanded by Congress with the passage of the Homeowner Flood Insurance Affordability Act of 2014. It reversed some of the raises called for in the Biggert-Waters Flood Insurance Reform Act. Instructions on the refunds can be found in the NFIP bulletin w-14035.More

Disasters: An expensive 1st half

Two firms tracking disasters have issued reports on the first half of 2014. The picture isn't pretty, but it's not bad either. Relatively and monetarily speaking, of course. Aon Plc said the tornadoes, windstorms and accompanying hail in the nation's midstates and in the Rocky Mountains likely cost insurers more than $1 billion. June was pretty bad. In 2013, there were 125 tornadoes in June. This year, there have been more than 300.More

Obesity more dangerous than smoking

The National Cancer Institute did a study that compared obesity health problems to those of smoking. Published recently in PLOS Medicine, it found the troubles caused by obesity, like strokes, heart disease, cancer, diabetes and other illnesses, can be worse than a heavy cigarette habit.More

Missouri veto of bill requiring navigator background checks

On July 7, Gov. Jay Nixon, D-Mo., vetoed a bill that would have required criminal background checks for individuals applying for state licenses as health insurance navigators. The bill would have prevented those with past convictions involving fraud or dishonesty from being licensed.More

June P&C rates: Holding pattern continues

MarketScout CEO Richard Kerr said June rates didn't look all that bad. Rate increases are declining overall but they're still on the plus side. "The commercial market continues to adjust downward as a result of improved underwriting results and an abundance of capacity. In the aggregate, rates still are up slightly, but the trend for rate moderation continues."More

Millennials to the insurance industry: 5 ways you can do better
Insurance Business America
As part of Insurance Business America's look into the next generation of insurance professionals, they surveyed millennials nationwide on their preconceived notions about the industry. They also spoke with millennials already working in and studying insurance to ask for their insights on how companies can improve in their recruitment and training practices. They selected the five most insightful comments.More

Americans tap retirement savings and regret it
Against the better advice of advisers who say it's best not to dip into retirement savings, 29 percent of Americans who participate in a retirement plan say they have taken out a loan from the savings in their plan, according to a new survey.More

The wind down: 2 insurers answer the big 'if'
AIG and Prudential Financial insurers presented plans to the FSOC that will be shared with the U.S Treasury and the Federal Reserve on how they'll unwind if they get into the kind of financial trouble AIG got into just before the Great Recession and before the federal government bailed it out to the tune of $189 billion.More

Cybersecurity 3: ID theft rising, consumers angry and growing angrier
The Identity Theft Resource Center said we're half way through 2014 and so far we've seen 368 data breaches. That's up 19 percent from last year during the same time period. The number of personal records compromised? Try more than 10 million.More