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PIA National's Annual Federal Legislative Summit
Hundreds of PIA members are getting ready to converge on Capitol Hill in Washington,
D.C., March 26-27, for the 2014 PIA Federal Legislative Summit. Are you among
If not, your presence and participation is important, if
not critical. If you're not familiar with annual PIA Federal Legislative Summit, it is a gathering of PIA
members from around the country who come together to meet with their members of
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| Industry News from PIA Western Alliance|
Senate passes House flood reform bill
House of Representatives Republicans did
not like the flood insurance reforms passed
by the Senate of original flood insurance
reforming Biggert-Waters Act. The House
Republicans came up with their own ideas,
got bi-partisan agreement and passed
reforms of the Biggert-Waters reforms.
Insurance companies and their risk to the economy
The Dodd-Frank Act was passed after the ill-conceived
financial dealings by banks and other financial institutions
came close to destroying the American — and some say even
the world's — economic system.
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!
America dishes on its top problems
Gallup Research is keeping up with what keeps you up
at night. Three issues worry Americans the most. They are unemployment, the overall economy and dissatisfaction with the government.
The following are the most important things bothering
Americans in March compared to February.
Commercial rates: The end of 2013 and into the future
Towers Watson's CLIPS — Commercial Lines Insurance
Pricing Survey — says 2013's fourth quarter ended with rates
up an average of 5 percent compared to fourth quarter of 2012. That's good but not as good as the rate jump from 2011 to 2012.
Analysis: Looking under the auto insurance hood
Auto insurance rates rose last year. So did
homeowners — at least on average, according to the
insurance consulting firm Perr&Knight's publication
RateWatch. Here are some stats.
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Cover Oregon update: The federal investigation
The Oregonian newspaper has
uncovered a federal government investigation —
or review as it is called — of Cover Oregon,
Oregon's nonworking health insurance
exchange. It began in January and was
completed and announced on Feb. 27. The report was done by the Centers for
Medicare and Medicaid Services.
Oracle and Cover Oregon: A total disaster
The Centers for Medicare and
Medicaid Services sent an IT SWAT
team to Oregon in January to look at
the health exchange Cover Oregon's
problems. Since it gave Oregon $304
million to do the job, the Centers felt
it had the right to investigate the
myriad of problems facing the
exchange. At the center of the trouble is Oracle, the contractor responsible for the exchange's
technology and website.
The Oregon legislature and Cover Oregon
The Oregon Legislature took some steps to
fix the state's disastrous health insurance
exchange Cover Oregon. It was supposed to
be working by October when the
Obamacare enrollment process began.
To date, the website still is not functioning.
Insurers to soon struggle over Obamacare rates
Insurance carriers are struggling. They are —
— two months away from having to submit their rates
for the 2015 Obamacare plans. Here are a few of the problems.
Insurance industry employment is up
The U.S. Labor Department Bureau of Labor
Statistics said P&C insurers and agents and
brokers had a good employment month in
January. Insurers are 1,300 jobs better than
January of 2013 and agents and brokers
Missed last week's issue? See which articles your colleagues read most.
ISO to eliminate delivery of paper forms, manuals, portfolios and circulars
Effective June 14, the ISO will discontinue printing and
shipping paper forms, manuals and portfolios and circulars.
The ISO urges you to make sure you have all you need
once the paper mailing is discontinued.
Fewer Americans getting insurance through employers
The Gallup-Healthways Well Being Index did a survey of
Americans and how they're getting their health insurance.
It found the percentage of them getting it through
employers is dropping.
Obamacare: Who is insured and who has paid for that insurance
President Barack Obama said recently that enough people
have signed up for the Affordable Care Act to make
the health insurance exchanges — or marketplaces as
they're now called — stable.
Sen. Susan Collins bill to exempt insurers from Dodd-Frank financial regulations
Sen. Susan Collins, R-Maine, a
former state insurance regulator, has introduced
a bill in the Senate to exempt insurance companies
from the capital requirements placed on banks if the insurance company is considered a
significant risk to the U.S. economy.
Resources to help you talk to clients about spring flooding
Much of the nation might be ready for spring following a brutal winter, but it's important
to remind your clients that the warmer weather can bring rapid snow melt and heavy
rains, increasing their flood risk. Each cubic foot of compacted snow contains gallons of
water. Until the ground thaws, melting snow and heavy rain cannot be absorbed and
can lead to flooding. The average flood claim paid by the National Flood Insurance Program over the
past five years was more than $42,000.
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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March 12, 2014
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