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Faking honesty is not a good E&O tool
by Curtis M. Pearsall, CPCU, AIAF, CPIA, president, Pearsall Associates Inc and special consultant to the Utica National E&O Program
The great comedian Groucho Marx once said, "The secret of
life is honesty and fair dealing. If you can fake that, you've got it
made." As interesting as it may sound, it is probably fair to say
that Groucho was not an insurance producer. If he had been,
he may have been involved in an E&O claim or two.
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PIA Oregon/Idaho EXPO: Not to be missed
PIA Oregon/Idaho's 2nd Annual EXPO is coming:
June 17 & 18, 2014
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.
Click "Read More" for more information and to get started.
All Risks, Ltd., the Nation’s Largest Independent Wholesale Insurance Provider
Contact our professional underwriters with access to exclusive “A-“ or better rated carriers with competitive rates.
- Storage Facilities (All Lines)
– Aggressive rates and enhanced coverages, plus discounts for association members.
- Restaurants with Delivery (WC) – Single to multi-location/multi-state restaurants are eligible with monthly self reporting plus additional payment plans
- Insurance Agents (E&O) – Comprehensive coverage with varying limits and deductible options for P&C, L&H, MGAs, Wholesalers and more. Many optional coverages available.
- Building Operations (WC) -Direct WC carrier access with low minimum premiums for building operations by owners and contractors.
- Real Estate Owned (REO Property & Liability) - Industry-leading technology to help agencies with financial institutions (regional and community banks) and large investors who service and/or invest in mortgage, vehicle and collateral based loans
| Industry News from PIA Western Alliance|
TRIA renewal bill introduced in the US Senate
As Weekly Industry News reported, a
bipartisan bill — S. 2244 — to reauthorize and
extend the Terrorism Risk Insurance Act
was introduced in the U.S. Senate by Sen. Charles Schumer, D-N.Y., and
Sen. Christopher Murphy, D-Conn.
Special report 1: Cyberinsurance, cybersecurity
The cyberattack on Target just before Christmas has brought cyberinsurance, cybersecurity and the cost of a cyberinvasion to the
forefront. Steps are being taken at every level from
government to business to thwart the risk of attack and to deal with an attack after it
Special report 2: Cyberattack legislation
Cyberattacks are growing. A study by Ponemon
Institute, "The 2013 Cost of Cyber Crime
Study," released fairly recently shows some
An auto insurance affordable care act?
The Federal Insurance Office is looking at the
affordability of auto insurance.
The goal of its just initiated study is to find a
reasonable and meaningful definition of auto
US government 'likely' to extend terrorism insurance law but industry will have 'limited capacity' if it doesn't
The United States government will likely extend the Terrorism Risk and Insurance Act beyond the end of 2014, but if it does not, there will likely be "limited capacity" and higher prices for such coverage, especially for properties in the central business districts in major cities, commercial brokerage and risk management provider Marsh Inc. suggested in a recent report.
53 percent say supplemental policies important benefit
Insurance News Net
A survey of 1,714 consumers who are likely to buy supplemental insurance products in the next 12 months finds that 53 percent say working for a company that offers such insurance will be important to them. Supplemental insurance is important as employees fill gaps in their employer-sponsored coverage, said Michael Zuna, executive vice president and chief marketing officer with Aflac.
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People and fraud
Trust in colleagues and business partners is an invariable element of business and managerial culture. This trust culture risk distracts managements from an objective interpretation of early warning signs.
The growth of the individual health insurance market in 2014
The individual health insurance market is undergoing significant change. The Affordable Care Act introduces new reforms that make individual health insurance more affordable and accessible, which means the individual health insurance market is about to explode.
Flood reforms passed: Now hurry up!
The Federal Emergency Management Agency has started implementing the Biggert-
Waters Act reforms to the National Flood
Insurance Program just passed by
Insurance agents learn how to market to people unlike themselves
The middle-aged white woman told the audience of mostly older white male business owners that much of the country and many of their future customers don't look like them or necessarily share all their values.
While whites make up 64 percent of the U.S. population today, by 2041 whites will be a minority in the country, multicultural marketing expert Kelly McDonald told agents at the recent legislative conference of the Independent Insurance Agents and Brokers of America in Washington, D.C.
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Future shock: Recruiting the insurance industry's next generation
As fulfilling as it is on multiple levels, a career in the insurance business is not one that most young people intentionally pursue. Ask anyone who's spent more than a few years in the industry and they'll tell you that they fell into it but that they truly enjoy it, and in many cases they'll say had the benefit of a mentor who helped shepherd their career. In the next seven to 10 years, more and more institutional knowledge will be lost from the insurance industry as much of its old guard turns its attention to other life interests.
Missed last week's issue? See which articles your colleagues read most.
Transformational thinking in insurance claims management
Insurance Networking News
Insurance claims processing is still categorized by some insurers as "if it's not broken don't fix it." Some have taken steps to make incremental changes to their existing claims processes and systems by applying Lean process methods, and introducing data mining and predictive analytics. Although for the most part the results have been positive, these small enhancements led to small benefits.
How does the Heartbleed bug affect your business?
By Ross Lancaster
If you've followed the tech world in the last two weeks, chances are that you've heard of the Heartbleed bug. According to various sources since it was confirmed April 7, the bug is a massive threat that puts nearly every piece of personal information on the Web at risk for theft, an overblown hazard and something that will "slow the Internet to a crawl." But what exactly is Heartbleed, how serious is the risk, and how will it affect your business?
Around the PIA Western Alliance States
PIA Weekly Industry News
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