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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.
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.
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.
COST manages and operates insurance premium finance companies for clients nationwide. The COST Program™ enables you to focus on your core business - running your insurance agency or company - while increasing profits, improving customer service, controlling the finance process, enhancing market value, creating a profit center for your business, and adding to your bottom line with no extra staff or fixed expense - If you aren't earning $30,000 to $40,000 per $1mm financed contact COST today.
Extreme weather clean-up costly
The Natural Resources
Defense Council is a nonprofit
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.
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
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.
Missed last week's issue? See which articles your colleagues read most.
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.
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.
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.
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
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
The drop is the first in the category since
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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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.
Around the PIA Western Alliance states
Updates on PIA Western states.
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.
NCCI: Workers' comp sees encouraging signs in 2012 results
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.
IRS could ease deadline for health insurance
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.
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
Few of us — however — experience
what Missoula, Mont. agent
Danny Blowers of Danny Blowers
Insurance Agency did recently.
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063