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The industry: Premiums increasing, loss reserves stable
It's almost halfway through 2014 and Munich Reinsurance — or Munich Re as it is better known — has issued its Insurance Market Outlook 2014. It finds the economy is recovering in most countries and insurance premium volume is growing as a result. The report says we should expect a premium volume increase of 2.8 percent for this year and 3.2 percent in 2015.
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 PIAW Happenings


PIA Oregon EXPO: Not to be missed!

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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SPONSORED CONTENT
    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


 Industry News from PIA Western Alliance


Cybersecurity: Another attack, concern growing
eBay is the latest major corporation to have its customer data base hacked. Experts are calling it a massive hacking, but — at least at the time we write this — eBay isn't talking much about the attack. Spokeswoman Amanda Miller said eBay is working with authorities around the nation and the world.
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Cover Oregon update: FBI issues subpoenas
The FBI is investigating the failure of Cover Oregon. It's not a surprise. Everyone knew the FBI was knocking on doors. That knocking just got louder and the investigation has ratcheted up a notch. Broad subpoenas have been issued by the bureau via the U.S. Attorney's office and a grand jury request.
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A quick revisit: Obamacare navigator rules changed
On May 16, the Centers for Medicare and Medicaid Services significantly lowered the standards for health insurance navigators. PIA National opposes the changes. The national association says the new standards put consumers at risk.
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TRIA renewal: Game on
The effort to extend the authorization of the Terrorism Risk Insurance Act is in the works in the Senate and in the House. Bills have been introduced and both are as different as the different houses that are considering them.
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Rolling back Dodd-Frank's federal oversight of insurance
Congress is looking at bills to change how insurance company finances are interpreted in the Dodd-Frank Act. There are three bills currently in the House that will change how insurers are viewed. Bills one and two are H.R. 605 and H.R. 4557. The first is the Insurance Consumer Protection and Solvency Act of 2013 and the second is the Policy Protection Act of 2014. They limit the Federal Deposit Insurance Corporation's ability to assess insurance companies to pay for failing banks or thrifts.
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The uninsured of Obamacare
The official sign-up time for the Affordable Care Act has — wink, wink — finally passed. According to a survey done by Enroll America a high percentage of those remaining uninsured after the deadline did so because they cannot afford insurance. Most of those were not aware that financial assistance is available to help them "afford" that insurance.
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Milliman: The high cost of health care lower in 2014
It cost you more for health insurance for you and your family in 2014. But the increase isn't as much you paid in previous years. The actuarial firm Milliman tracks these things and the 2014 Milliman Medical Index has been released. It measures what a typical American family of four pays for employer-sponsored health insurance.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    PIA National opposes Obama administration relaxation of navigator rules (PIAW)
PIA National: More on Wal-Mart's auto insurance (PIAW)
Agent compensation, health insurance exchanges (PIAW)
Obamacare cost: Agents lose $300 million commissions in 2012 (PIAW)
FEMA says it's OK to assume a prior flood policy (PIAW)

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


Mobile apps for insurance purposes? Not so fast
Mobile apps have become an important tool for many businesses. Combined with an active, updated website, the mobile app is a must for modern success. At least for most businesses. Apparently not insurance.
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Wildfires: Another summer crisis brewing
This is an ongoing story and by the time you read this, things may have changed one way or the other. At the time this is written, Alaska is battling a dangerous wildfire. It's expanded to an area of 140,000 acres. That's huge. Maybe bigger than huge. Some say it covers an area bigger than the size of Seattle, Washington.
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Looking for similar articles? Search here, keyword WILDFIRES.


FEATURED ARTICLE
TRENDING ARTICLE
MOST POPULAR ARTICLE
Buying insurance against climate change
The New York Times
The third National Climate Assessment report — released May 6 by the White House, and representing the work of more than 240 scientists — warns us about our hazardous future and offers many good ideas for dealing with it.

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Agent compensation, health insurance exchanges
PIAW
From an agent and broker point of view, the Obamacare health insurance exchanges have a mixed record. Some are being well-paid for work done to get people and businesses health insurance and some are not.

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Online auto insurance: It may have peaked
PIAW
PIA National reports the TransUnion Auto Insurance Shopping Index shows shopping over the Internet for auto insurance is down for the second year in a row.

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Update: Washington's Oso landslide
To date, 41 people are dead and two are still listed as missing from Washington State's devastating landslide in Oso on March 22. In the aftermath, a few members of the state's congressional delegation have pushed for more money for landslide research.
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The passing of longtime PIA supporter Richard N Schafer
After a most remarkable life, PIA Montana member Richard N. Schafer died at age 81. Schafer's son, Kelly R. Schafer, said his dad passed away on Dec. 6. The PIA Western Alliance and Weekly Industry News didn't learn about Schafer's passing until recently.
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 News You Can Use


Competitive advantage through analytics
Insurance Networking News
Insurers have many opportunities to leverage advanced analytics across the enterprise, including underwriting, claims and marketing. But without a solid foundation, analytics can overwhelm companies that have yet to get the most out of structured enterprise data.
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 Around PIA Western


Around the PIA Western Alliance States

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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, Editor/Writer for PIA Western Alliance, 503.724.9028   

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