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Reforming flood reforms: Will the House act?
House Speaker John Boehner and
Republican leaders say the U.S.
House of Representatives will not
even look at the Senate-passed
Homeowner Flood Insurance
Affordability Act, S. 1926. It is an
effort by some in the Senate to help
homeowners and businesses
impacted by almost instant and
very high flood insurance rates from the reforms of the Bigger-Waters Act.
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PIA Western Alliance to launch improved website
The PIA Western Alliance will soon
unveil its improved website.
Look for an email in the near future
prompting you to log in and update
your information. Once you are
signed in you will be asked to pick
the information you want to receive from the PIA Western Alliance. That data — and
other information about you and what you want from the PIA — can easily be updated.
Get ready: PIA Oregon/Idaho's 2nd Annual EXPO
Red Lion Hotel on the River
EXPO is a one-day, business-to-business and education program for all agents, agency
and company personnel. Last year's EXPO was a huge success. More than 150 independent
insurance agents registered.
PIA Oregon/Idaho is setting companies up with exhibitor booth space and is looking for
sponsors. If your company doesn't have its booth set up yet, you need to move fast.
Click "Read More" for further information.
A new Deductible Reimbursement Insurance is now available to all residents of the Western Region (except Alaska). Licensed insurance agents may now sign up on the ZeroDeductible website and offer deductible reimbursement insurance to their clients directly for their auto, home and boat policies.
Click here to learn more!
| Industry News from PIA Western Alliance|
Cover Oregon upgrades website; agents go to work
Cover Oregon has launched an upgrade to its website.
Spokesman Michael Cox said the upgrade lets Oregon's
health insurance agents and community partners enroll
people without using paper applications. "That means they
can schedule an appointment with one of their clients, apply
for coverage, get an eligibility determination, shop and
enroll in coverage, taking the process from beginning to
Special report: Cybercrime, insurance
Cybercrime is growing. Companies purchasing
cyberrisk insurance is growing, too. The hacking of
Target's database and the theft of 40 million debit
and credit card numbers and the theft of the email
addresses and PIN numbers of 70 million more got
the ball rolling. The Target breach dramatically highlighted the
threat that all firms face.
IRS, Treasury employer ACA rules for 2015
The U.S. Department of the Treasury and the Internal
Revenue Service have issued final regulations
implementing the Affordable Care Act's employer
responsibility provisions. They take effect in 2015.
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Small-business owners: Exit plans in 5 to 10 years
As most of you know, it's not easy to own a small
business. Many of you own small businesses and
have businesses as your clients. A new survey by
Securian Financial Group says more than 60 percent of
small-business owners plan on leaving their
business in the next five to 10 years.
Obamacare: The California Exchange: Latinos, limited doctors, insuring illegals
Covered California has now enrolled 1.6 million. And through the end of January, 80 percent
paid their first month's premium. The state's SHOP program — Small Business Health
Option Plans — is doing well, too. More than 570 businesses have enrolled almost 5,000
The exchange is a huge success and is one of the most successful in the nation.
Missed last week's issue? See which articles your colleagues read most.
Fed's Yellen: Yes, banks and insurers are different
Good news for insurers.
Incoming Federal Reserve Board Chair Janet Yellen is
sticking to her comments to the Senate when being
confirmed. Yellen continues to contend — when it comes
to regulations — banks and insurers are different. Recently, she told the House Financial Services Committee
that insurers designated as systemically important
financial institutions by the Financial Oversight
Stability Council will need regulatory schemes
that differ from those imposed on banks by the Dodd-Frank Act.
Insurer executives hit bonus jackpot in 2013
We all noted that insurance had a pretty good year in
2013. A Towers Watson survey makes it official. As the
final income figures from 2013 are finished, the execs
running those companies will note it, too, and can look
forward to some nice bonuses.
Nevada Commissioner Scott Kipper appointed to NIPR board
Nevada Insurance Commissioner Scott Kipper has been
appointed to the National Insurance Producer Registry Board of Directors. At the same time, the NIPR
elected new executive officers.
Post AIG: Hank Greenberg doing very well
In 2005 AIG —
caught in a
couple of scandals —
president, CEO, board chairman and company founder
Maurice "Hank" Greenberg. Since then Greenberg — who
is the majority shareholder of C.V. Starr & Company — has
battled AIG execs and the federal government whose
bailout of AIG in 2008 cost him and other stockholders
Workers' compensation costs and attorneys
This story is about California and workers'
compensation costs, but the statistics probably
could apply to any state. The California Workers'
Compensation Institute did some research on
work-comp costs and found that 11.6 percent of the state's
regular workers' compensation claims and 80 percent of
the permanent disability benefits cases from 2005 to
2010 involved attorneys. No surprise, attorney involvement caused significantly higher costs than those cases
where attorneys are not involved.
Consumer surprise: Most avoid cheapest ACA plans
Here's an interesting surprise. Most Americans using
the Obamacare exchanges aren't going cheap. Most
are taking advantage of government subsidies and are
picking mid-level plans.
Around the PIA Western Alliance States
PIA Weekly Industry News
Colby Horton, Vice President of Publishing, 469.420.2601
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Rebecca Eberhardt, Content Editor, 469.420.2608
Gary Wolcott, Writer for PIA Western Alliance, 503.724.9028
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