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Battling Google and other direct writers
Though he probably didn't say it this way, Mark Twain is said to have said, "The reports of my death are greatly exaggerated." Accurate or not, it is a quote that fits today's PIA independent insurance agent.
With Google, Wal-Mart and other direct writers beginning to flourish, some are incorrectly saying the demise of the independent agent is on its way. Nothing could be farther from the truth.
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PIA Oregon friend, Oregon Mutual's Dennis McGanty retires
In the insurance industry, most of us do a job or two before finally settling down. Rarely does the settling down end up being 47 years. That's Dennis McGanty's story. A couple of weeks ago, Dennis retired and left Oregon Mutual.
His tenure? The 47 aforementioned years.
Oregon starts mileage gas tax experiment and gas taxes, fees
The federal gas tax is 18.3 cents per gallon and it has been at that rate since 1993. That tax isn't keeping up with transportation infrastructure needs. Neither are the taxes on fuel charged by the 50 individual states. AAA spokesman Michael Green said the states are looking at alternatives.
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Jobs on the rise
Here's a statistic we haven't seen in a long time. In December, the Labor Department said job openings were 5.03 million. That's a rise of 181,000 and it's the highest it has been in 14 years. The number of us hired to fill those jobs is also at a seven-year high.
Millennials: Looking at the future of your business
Over the next few weeks, Weekly Industry News is going to look at millennials. They share the largest age group on the planet with their baby boomer grandparents and parents.
They're now just becoming your customers and are just now becoming those new employees you're hiring. We're going to take a deep look at who they are, how you can relate to them and why they may just be really good employees.
Agency producers: Your total commitment is critical
by Curtis M. Pearsall, CPCU, AIAF, CPIA, President. Pearsall Associates Inc. and Special Consultant to the Utica National E&O Program
In virtually every agency in the United States, producers play a key role in determining the agency's success. After all, producers have new business production goals and expectations that they will retain that business in the future. Producers also play a vital role from an errors-and-omissions standpoint. For an agency to have a solid commitment towards E&O loss prevention, a 100 percent buy-in is necessary from the sales and production staff. Not 80 percent, not 90 percent, not three out of four producers ... 100 percent from every producer, every day.
Mergers and acquisitions: 2014 sets record
Mergers and acquisitions are the new reality for the insurance industry. In the U.S. and Canada in 2014, record numbers of companies were bought by or merged with others.
As Hub International and Arthur J. Gallagher were the two busiest firms.
Wells Fargo: Look for a stable P&C market in 2015
It's almost the end of February and we have more prognostication about 2015. This one was just released by Wells Fargo. We're not sure if the release is deliberately late or if it just worked out that way. Whatever the case, Wells Fargo says the commercial property and casualty insurance market will be stable in 2015.
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Cyberattacks: An accelerating crisis and now the FIO is involved
Anthem is slowly but surely contacting the 80 million people whose identities were stolen during its hacking a couple of weeks ago. In the meantime, those whose identities were compromised can go to this website for information: www.anthemfacts.com.
The company is promising two-years of ID theft help to everyone who is impacted.
Cover Oregon
No word yet on when the Oregon House will act. Or if it will act. There is also the possibility that by the time you read this it will have acted. Anyway, here’s the update.
Around the PIA Western Alliance States
Missed last week's issue? See which articles your colleagues read most.
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PIA Weekly Industry News
Colby Horton, Vice President of Publishing, 469.420.2601
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Rebecca Eberhardt, Content Editor, 469.420.2608
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Gary Wolcott, Editor/Writer for PIA Western Alliance, 503.724.9028
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