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The ACE Group

A global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited, the ACE Group conducts its business on a worldwide basis with a physical presence in 53 countries.

 

PIA National, TRIA and Aon, Terrorism Risk
Terrorism continues to be a worry, and not just in the U.S., but worldwide. For the U.S., this especially is true after the Boston Marathon bombing. PIA National continues to support the renewal of the Terrorism Risk Insurance Act to assure that U.S. companies have access to terrorism risk insurance. Aon has issued a report that states terrorism risk exists in 44 percent of the nations it surveyed.
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 News from PIA Western Alliance


PIA Oregon/Idaho EXPO — A Great New Idea
PIA Oregon/Idaho's EXPO was a big success. On Monday, May 20, close to 150 agents connected with a variety of insurance vendors at Portland, Ore.'s, Lloyd's Center DoubleTree. What makes EXPO so unique is the one-day format and no fee for agents, CSRs and agency owners to attend.
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Devastating Oklahoma tornadoes
This, of course, is an ongoing story and developments continue to happen by the minute. President Barack Obama has declared five counties in Oklahoma a major disaster area. That opens the door for federal disaster assistance. On May 20, the most damage was done in Moore, Okla., where a tornado hit the area, killing 24. More than 200 were injured. Those are the numbers now being used — no doubt it will change. For three straight days tornadoes, high winds and flooding have devastated the state.
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On the move: The farm bill and Congress
Congress is moving on a new farm bill. Typical of this Congress and of the last, the farm bill renewal is late by months. Recently, the Senate Agriculture Committee passed a $500 million package and the full Senate will likely vote on the 1,000 page bill before the end of May.
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Extreme weather clean-up costly
The Natural Resources Defense Council is a nonprofit environmental group claiming to have 1.4 million members. It said the federal government spent $100 billion on extreme weather event damage in 2012. The group estimates it cost each of us $1,100. It also contends the spending is more than the federal government did for schools or transportation.
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Simple strategies for agency growth
By Rick Dennen
Ask agency owners about their goals, and one of the most common answers you'll hear is that they want to grow. They're not always as clear about how they plan to achieve that growth. Fortunately, there are some very simple strategies that offer excellent ways to build up your book of business.
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Questionable claims are increasing
When Legislatures are in session, worries about legislators grow while trying to pass bad faith bills. This year it's happening in Oregon, where a couple of challenging bills are working their way through the Legislature. PIA Oregon/Idaho representatives feel fairly confident they can — and will — be stopped.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Survey: Homeowners confused about insurance coverage (Los Angeles Times)
Insurers in the Fortune 500 (PIAW)
How solid is your agency's personal E&O commitment? (by Curtis M. Pearsall)
Just for fun: Your brain and multitasking (PIAW)
Top 50 apps for independent agents (Insurance Journal)

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


Disaster preparedness: What employees need to know
By Dan Weedin, CIC, CRM
As insurance professionals, you make your living helping your clients improve their ability to avoid peril and prepare for losses. You also assure them that they are in a position to survive a disaster. However, just like mechanics who never fix their own cars, most insurance professionals do a terrible job preparing themselves for disaster. How do I know? They've told me.
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Judging Obamacare? Time will tell
HealthPocket has been doing a lot of surveying on the Patient Protection and Affordable Care Act over the past few months. The organization has looked everything from what people know about Obamacare to rising insurance rates to the perception of the exchanges where insurance will be sold in the individual states. The latest survey looks at how consumers will view the success or failure of Obamacare once it gets into full swing in 2014.
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Government monitoring of driving habits
The idea is controversial but it's gaining popularity. We're exploring the topic of government monitoring the driving habits of individuals. CarInsurance.com did a survey and found support for devices that track the location of a vehicle, the hours it operates, how the driver using it behaves on the road and conditions within the vehicle like the number of passengers.
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FEATURED ARTICLE
TRENDING ARTICLE
MOST POPULAR ARTICLE
Foreign nonbank financial institutions should clear SIFI status
Insurance Networking News
While larger insurers are waiting to hear whether they will be subject to an extra layer of oversight, Fitch reassures smaller-domestic insurers with larger foreign parents, saying it is doubtful they would be considered SIFIs.

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Sick days: Expensive for employers
PIA Western Alliance
The losses are staggering. Businesses in the U.S. lose $84 billion a year because of sick days. Some industries — says a study by Gallup and Healthways — have higher sick day losses than others.

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Top 50 apps for independent agents
Insurance Journal
Mobility technology is changing the way the insurance industry operates. But when it comes to working on the go, nothing is as important as mobile device applications.

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Insurers: Dog bite costs to industry drops
Finally. After years of the bite being worse than the bark, the bark is now worse than the bite. Well, for insurers, that is. State Farm — who tracks such things — said in 2012 dog bites cost the insurance industry $489.7 million. That's a lot but not as much as the $490.8 million in 2011. That figure is a record. The drop is the first in the category since 2004.
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Credit scoring, homeowners: What consumers don't know
There are two surveys conducted recently that are most important to insurance. One of these surveys about credit scoring was done by The Consumer Federation of America. It turns out a large percentage of consumers do not know much about credit scores.
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Looking for similar articles? Search here, keyword HOMEOWNERS.


S&P downgrades Berkshire Hathaway
Few argue that Berkshire Hathaway is one of the nation's most successful and solid companies. Standard & Poor's may also be in agreement with that statement but the firm's new rating methodology says Berkshire is too dependent upon insurance for its dividend income. So, S&P has downgraded Berkshire Hathaway from AA to AA-plus.
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Around the PIA Western Alliance states
Updates on PIA Western states.
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 Industry News


Foreign nonbank financial institutions should clear SIFI status
Insurance Networking News
While larger insurers are waiting to hear whether they will be subject to an extra layer of oversight — as a result of being named a systemically important financial institution by the Financial Stability Oversight Council — Fitch reassures smaller-domestic insurers with larger foreign parents, saying it is doubtful they would be considered SIFIs.
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NCCI: Workers' comp sees encouraging signs in 2012 results
Insurance Journal
The workers' compensation market is seeing encouraging signs. Premiums grew for the second consecutive year, the combined ratio declined and claim frequency continued to improve at a pace slightly greater than its long-term historic rate of decline.
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IRS could ease deadline for health insurance
InsuranceNewsNet.com
Employers who are struggling to meet the federal deadline to add health insurance coverage for employees' children starting in 2014, as required by the Affordable Care Act, would have more time to add the coverage without being fined under proposed rules being considered by the IRS.
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 Just for Fun


Just For Fun: Well, kind of
Insurance industry professionals from agents to company professionals know that sometimes people are unhappy with them and their decisions. It's part of the business. Few of us — however — experience what Missoula, Mont. agent Danny Blowers of Danny Blowers Insurance Agency did recently.
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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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