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Auto insurance at Wal-Mart?: PIA National reacts
Everything at Wal-Mart is cheaper. No. We don't
want to pick on Wal-Mart and need to be fair. Less
expensive might be a better description. Working
on that theory and the theory that everyone loves
shopping at America's greatest superstore, Wal-Mart
is now offering auto insurance. The superstore has partnered with autoinsurance.com to develop a
website where consumers can compare their auto insurance rates and shop for less
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Internet Explorer bug: PIA National says be careful
Internet Explorer has a
bad one. It's so serious the
U.S. Department of Homeland Security is advising you to
consider using alternatives to the Microsoft browser until
the company fixes a security flaw that hackers have used
to launch attacks.
PIA Oregon tracking Cover Oregon changes
Cover Oregon's board of directors has decided its too
expensive to fix the state's health insurance website. So the
recommendation is to have Oregon become part of the federal
| Industry News from PIA Western Alliance|
Debate 1: Demanding a stop to European financial standards on insurers
The Property Casualty Insurers Association of America
and the National Association of Mutual Insurance Companies want the U.S. Senate to investigate efforts to impose
global capital standards on insurance companies.
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
Debate 2: Face-to-face debate on US vs. European standards
At a forum in Washington, D.C., hosted by the
National Journal insurance executives, state
insurance commissioners and federal officials
debated the role of the federal government in
America's state-based insurance regulatory system.
Debate 3: NAIC, Europe work on agreement
Representatives from the National Association of
Insurance Commissioners and the European Insurance and Occupational
Pensions Authority held a series of meetings to advance a mutual
regulatory understanding of insurance activities in the U.S. and EU. Topics for
discussion during the regulator meetings included group supervision, market regulation
and global systemic risk.
Finally, the Insurance Capital Standards Act of 2014
Congress finally is going to work on differentiating
between banks and insurers when it comes to financial
rules and systemic risk to the nation's economy. The bill
is a bipartisan effort and it's titled the Insurance
Capital Standards Clarification Act of 2014.
Study: Forget Wal-Mart, people prefer an independent agent
PIA National did a nationwide study and found
consumers want what PIA professional independent
insurance agents have to offer.
TRIA: A hot topic for congress
The Terrorism Risk Insurance Act will be a hot
congressional topic in
Congress for quite a while. First, the Senate
Banking Committee and the House Financial Services
Committee will look very seriously at what renewal will look like.
Secondly, the industry is going to try to use the renewal of TRIA
to limit the ability of the Federal Reserve Board to impose bank-centric financial standards on insurers.
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Obamacare navigators: Controversy continues
PIA supports the adoption of strict standards
governing navigators. So the association was
pleased when recently
Gov. Jan Brewer, R-Ariz., signed into
law a measure requiring the State Insurance
Department to license navigators who help consumers choose health plans through the
Affordable Care Act exchanges.
The age of insurance agents: A big problem
For years, industry executives have been pushing to
grow the industry younger. It's not working. Agencies
are having more trouble getting younger than
companies. A study from MarshBerry says the average
age of today's insurance agent is 59. That means a quarter of the industry is set to retire on or about 2018.
Missed last week's issue? See which articles your colleagues read most.
Update Cover Oregon: The Federal Exchange decision may not be Legal
Cover Oregon's board of directors — based on the
recommendation of a consultant — decided it will be too expensive to fix the state's
Obamacare exchange. After $240 million spent, $100 or so million for a fix was just too much and would take too much time.
CIAB: 1st quarter results moderate
The first quarter of 2014 didn't look bad but it didn't look as
good as the fourth quarter of 2013. The Council of Insurance
Agents and Brokers said commercial rates grew 1.5 percent
compared to 2.1 percent in the fourth quarter of last year.
ACA: Who paid premiums still in dispute
The dispute as to who has paid for their Affordable
Care Act insurance and who hasn't continues. The
Centers for Medicare and Medicaid Services say
health insurers are pegging the number paying for
their insurance after enrolling in the federal
insurance exchange — HealthCare.gov — is 80
to 90 percent.
Obamacare by the numbers
As usual the numbers, surveys and tracking of the
Affordable Care Act and its implementation continues
to be mixed. Kaiser Health's monthly polls — done
after open enrollment finally closed — found our view
of the Affordable Care Act is unchanged and most of
us feel it has fallen way short of expectations.
Wildfires: A 30-year trend
This study has conclusions that surprise no one.
The American Geophysical Union's publication
Geophysical Research Letters did research that
concludes the western U.S. has seen more and
bigger fires in the last 30 years.
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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