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Attention Wal-Mart shoppers: PIA agents are a better insurance pick
As soon as Wal-Mart announced it will promote online auto insurance to its customers, PIA issued a press release advising consumers that it is better to deal with a professional, independent insurance agent. In the news release, PIA National Executive Vice President Mike Becker expressed skepticism about a claim by Wal-Mart that customers in a pilot of the program experienced average savings of more than $1,100 a year on auto insurance purchased through its online service.
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 PIAW Happenings


PIA Oregon EXPO: Look who's coming!

When:  June 17-18
Where:  Red Lion Hotel on the River
            Jantzen Beach, Portland, Oregon

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.

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Marketplace SHOP webinars for agents to be held in May
Although the first open enrollment period in the Affordable Care Act health care marketplaces is now closed, enrollment in the Small Business Health Options Program continues on a monthly basis throughout 2014.
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 Industry News from PIA Western Alliance


TRIA renewal: It's TRIA in the Senate, TRIM in the House
It may be about to get really ugly. The subject is the reauthorization of the Terrorism Risk Insurance Act. The Senate recently held a hearing on reauthorizing TRIA and the House Financial Services Committee is expected to begin work on the issue soon.
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Finally: Bills changing fed oversight of insurance
When it was passed the Dodd-Frank Act inserted language that requires the Federal Reserve to apply bank capital standards to insurance companies. The industry has been lobbying since to change that since banks and insurance companies are very different financial entities.
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Financial Stability Oversight Council: New transparency rules
The Financial Stability Oversight Council was created by the Dodd-Frank Act to determine which large financial institutions posed the greatest risk to the nation's economy. Once designated financially risky the FSOC puts strict financial rules in place for that particular company.
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ACORD LOMA: Grading insurers on trends
The world is changing. Rapidly. Like most industries, insurance is trying to keep up. And like most other industries, it's not keeping up very well and is only doing an average job. Or so says Kimberly Harris-Ferrante of Gartner Research who came to that conclusion at a presentation she made at the ACORD LOMA 2014.
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Obamacare: Who enrolled, who paid
On May 1, the Obama administration finally released its final report on Affordable Care Act enrollment. More than 8 million people signed up for private insurance in federal and state exchanges during the initial enrollment period. That exceeded the administration's original goal of 7 million.
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Overstock.com: Insurance offering claims exaggerated
Both Wal-Mart and Overstock.com started insurance buying services very recently. The reaction of PIA National has been immediate and strong. PIA National started with statements made during the rollout of the Overstock.com program by Jeff Chesky — CEO of Insuritas, the company handling agency and policy details for overstock.com — who said, "Consumers don't want a relationship with an agent or even a carrier." Really?
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Rating rates: Rate downturn trending
MarketScout's April stats are out. They're down on average from March's 3 percent rise, but still up. The company's CEO Richard Kerr put it in perspective. "The April composite commercial rate remained in positive territory at plus 2 percent, but we may see rate reductions by year end if the current trend continues. If you are in the market on a daily basis, you can almost feel a change in the wind. No reasonable insurer wants rate reductions. However, everyone seems to feel they are coming," Kerr said.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Auto insurance at Wal-Mart?: PIA National reacts (PIAW)
Internet Explorer bug: PIA National says be careful (PIAW)
The age of insurance agents: A big problem (PIAW)
PIA Oregon tracking Cover Oregon changes (PIAW)
Study: Forget Wal-Mart, people prefer an independent agent (PIAW)

Don't be left behind. Click here to see what else you missed.


Cover Oregon: Oregon's governor responds
The Oregon Health Authority's authorities have decided to bag Cover Oregon's website. Recently, Cover Oregon's board — under the authority of the Oregon Health Authority — said it would be cheaper and better to partner with the federal government's HealthCare.gov than to try to repair its site.
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California legislator proposes tax per driving mile
Forget the gas tax. A bill introduced in the California Legislature — if passed — will change that forever. It proposes to replace the gas tax with a tax per mile driven. The idea is the brainchild of Sen. Mark DeSaulnier, D-Concord, Calif.
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Looking for similar articles? Search here, keyword LEGISLATOR.


FEATURED ARTICLE
TRENDING ARTICLE
MOST POPULAR ARTICLE
We need new templates for cyberrisk management
Insurance Networking News
How many CIOs are in the audience, and how many board members have they brought with them? The role of the chief risk officer has similarly enlarged as enterprise risk management has become recognized as a key to success in business.

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The age of insurance agents: A big problem
PIAW
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.

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Finally, the Insurance Capital Standards Act of 2014
PIAW
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.

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Mom's you are more valuable than ever — up from a year ago
First of all, happy Mother's Day to all who fit the description. Your children love you. And you continue to be valuable to them on an emotional level and now on a physical level. After two years of declines, the value of mom rose 5 percent in 2014 and is the job is now worth $62,985 a year. Or so says the annual insure.com study.
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The fed: 15 firms with extra supervision
The Federal Reserve is adding more companies to its watch list. The list of 15 is of those firms posing system risk to the entire U.S. economy. The fed says they'll need an "extra layer" of supervision and they "may pose elevated risks to U.S. financial stability."
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2 big insurers P&L: More 'l' than 'p'
Two economic giants one an insurer and one with huge ties to insurance did not have a good first quarter. They are AIG and Berkshire Hathaway.
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 Around PIA Western


Around the PIA Western Alliance States

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 Just for Fun


Just for fun: Animals on the golf course
A huge percentage of insurance agents and insurance company personnel are golfers. Those who are may have experienced things like you'll see in this video. Many have not. All — however — golfers or not will enjoy the humor of animals on the golf course as shot at PGA tournaments.
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PIA Weekly Industry News
Colby Horton, Vice President of Publishing, 469.420.2601
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Rebecca Eberhardt, Content Editor, 469.420.2608   
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Gary Wolcott, Writer for PIA Western Alliance, 503.724.9028   

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