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PIA Western Alliance
Sam Friedman is the insurance research leader at Deloitte's Center for Financial Services in New York. He's a brilliant writer and editor and before going to Deloitte was the editor of National Underwriter, the parent of PropertyCasualty360.com.
For several years he and Weekly Industry News Editor Gary Wolcott regularly exchanged thoughts on insurance and financial doings on his blog. And Friedman moderated a debate on the state-based verses federal regulation of insurance for the PIA Western Alliance at its Las Vegas, Nevada Agent Expo. Friedman recently penned an article for PropertyCasualty360.com on Google's recent retreat from the insurance business. He said it's too early to celebrate.
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PIA Western Alliance
When the Patient Protection and Affordable Care Act was passed in 2010 and negotiations were going on before passage, promoters promised no undocumented workers — that's what illegal immigrants are called today — could have access to health insurance through the exchanges. So ObamaCare's rules say no undocumented workers can purchase insurance via the exchanges even if they can afford the payments. Period.
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PIA Western Alliance
When it comes to domestic security, the United States ranks below 32 other countries. The insurance implications are there. Congress extended the Terrorism Risk Insurance Act or TRIA — now known as the Terrorism Risk Insurance Program Reauthorization Act — to 2020 and the nation is coping with making sure terrorism insurance is available and affordable. Being number 33 out of 127 isn't that reassuring.
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Northern Investors Company has been providing commercial premium finance solutions and exceeding agency expectations in the Pacific Northwest for over 50 years. We look forward to growing our network in other markets and helping your agency excel. Come check out what we have to offer at www.northerninvestors.com or call 800.767.7345.
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PIA Western Alliance
So far 2016 hasn't been real kind to people in the U.S. Insured losses — at last count — are $7.4 billion. Since this data from Aon Benfield's Impact Forecasting was released more storms and heavy rains have hit. And it's spring and tornado season, the count in the next week or so could rise significantly. Impact Forecasting's Steve Bowen said the U.S. has also suffered $13.05 billion in economic losses because of weather so far this winter and early spring. Of those losses, just 56% are covered by insurance or reinsurance.
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PIA Western Alliance
Bad news baby boomers ... the reign of a generation who radically changed the world politically, socially and musically has come to an end. Pew Research Center says Census Bureau statistics show there are now 500,000 more millennials alive in this country than baby boomers. And experts think the number of millennials in the U.S. will grow to about 81 million by 2036 because of immigrants joining their ranks.
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Send us your large challenging accounts:
General Liability-All Types, Commercial Property, Worker's Comp, Umbrella's, Professional E&O/ D&O and more
Min. Premium $20,000
Send Submissions to
: submissions@bjwins.com
(510)208-6625
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PIA Western Alliance
R Street — the non-partisan public policy research organization — took a long look late last year at insurance regulation in the individual states and how their insurance departments did in the grand scheme of things. Overall, R Street thinks state regulators do pretty well. Not all of them but most.
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PIA Western Alliance
The U.S. House has pass the Flood Insurance Market Parity and Modernization Act. If you're deeper into the subject it's H.R. 2901. It passed the House 419-0. So you might say it has bipartisan support. Insurers and insurance organizations like PIA National hope it finds similarly easy sailing in the Senate. The law requires private flood insurance to be treated the same as federal flood insurance by banks and mortgage lenders.
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PIA Western Alliance
Every year Fitch Ratings looks at insurance and ranks insurers. The recently released report says the $29.5 billion Ace and Chubb merger will make the company — if the Justice Department approves the merger — the seventh largest in the P&C market. That's the only change in the top 10. Ace-Chubb would make it seventh in terms of direct premium volume. For commercial lines premiums it comes in number two and is pushing the stratospheric heights of market leader AIG.
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PIA Western Alliance
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