This message contains images. If you don't see images, click here to view.|
Advertise in this news brief.
PIA National on NFIP rate changes
The Federal Emergency Management Agency issued W-14027, Revision to Compliance
Date for Large-Font Policy Documents on May 30,
which revises and further delays the compliance date
for large-font policy documents. Most importantly, FEMA is sending new flood
insurance premium rate sheets to insurers that reflect
the provisions of the 2014 Homeowner Flood Insurance Affordability Act. According to a memo sent to the Write Your Own companies, the new premiums show rate increases in each risk class, effective Oct. 1.
| Share this article:
Around the PIA Western Alliance states
Get ready — PIA Oregon EXPO is next week
It's not too late to register for and attend PIA Oregon's innovative
and very important
three-day convention alternative — EXPO.
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 register now.
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
PIA partners with Floodbroker.com: Flood insurance sales easier
PIA National has formed a groundbreaking partnership with floodbroker.com. Through
PIA's exclusive partnership with Floodbroker, your clients and prospects will be able to
learn about their flood risks and request a quote for flood insurance.
It's a huge change in how you've been able to access such insurance in the past.
PIA National Agent of the Year profiled by National Underwriter
Virginia insurance agent Cole Tucker — the 2014 PIA
National Professional Agent of the Year — is profiled
in the cover story of the June issue of National
Underwriter. The magazine calls him the Emperor of
| Industry News from PIA Western Alliance|
Cyberinsurance: Growing interest, urgency
These days cybersecurity is a hot topic for business
The U.S. Government Accountability Office has
waded into the issue. Its focus is federal agencies
and the report Information Security, Agencies
Need to Improve Cyber Incident Response
Practices says federal agencies need to do a better
job of making themselves secure.
Goodbye to the American dream?
The American dream is famous the world over. For decades, it was why immigrants came to this nation's shores. It's also why many today pay huge fees and go through tremendous expense to get here. And then there are those who suffer enormous physical hardships to come here illegally. But has that dream has changed? According to a new CNNMoney poll, it has changed and dramatically so. A big percentage of Americans now perceive the American dream as impossible to attain.
This week's poll: The American Dream: Are we better or worse off than our parents?
Last week's survey: No steering wheel? No brakes? Would you "drive" a vehicle like that?
Regulating insurers 'too big to fail' — part 1
AIG and Prudential Financial have been
deemed by the Dodd-Frank Act's
Financial Stability Oversight Council
as systemically significant to the
nation's overall economic health.
In other words, they're "too big to fail." And, unless steps are made to protect the
economy from them if they fall, the whole economic system falls.
Regulating insurers 'too big to fail' — part 2
The now famous — at least in insurance circles — amendment
to the Collins Amendment has been pushed through the U.S.
Senate and is now in the House for consideration. S. 2270 is the Insurance Capital Standards Clarification Act
of 2014. It — along with the House's version H.R. 4510 — tells
the Federal Reserve to apply insurance-based financial
standards to insurance companies deemed "too big to fail" rather
than bank standards.
Obamacare Marketplace registration coming soon
The Centers for Medicare and Medicaid Services reminds you — agents and brokers — that
registration for the 2015 plan year in the Affordable
Care Act's Federally-facilitated Marketplace will
be available beginning early July. At that time, agents and brokers wanting to
participate may begin completing their FFM registration requirements for the 2015 plan
Road to TRIA renewal rocky: PIA praises Senate Committee action
Recently, the Senate Committee on Banking, Housing and Urban
Affairs unanimously approved the Terrorism Risk Insurance
Program Reauthorization Act, S. 2244. The bill — if passed intact
— will renew the Terrorism Risk Insurance Act for seven years.
TRIA will expire at the end of 2014.
Small business and Obamacare
Aflack's WorkForces Report has unveiled some chilling
facts. It measures the steps small-business employers have made in order to to comply with the Affordable Care Act, and if
these steps have been successful. The report also looks at their
What makes this so important is that most insurance agents work with small-
and medium-size businesses.
The Affordable Care Act's silver plan: 2.6 percent rise in 2015
The Congressional Budget Office is nonpartisan.
It recently took a look at the Affordable
Care Act's silver plan. That's the mid-range
option between the "inexpensive" bronze plan
and the higher priced gold and platinum plans. The CBO doesn't think the cost of the silver plan is going to rise too much in 2015.
| Looking for similar articles? Search here, keywords OBAMACARE EXCHANGES.|
Explanation: The importance of TRIA and why the P&C markets are stable
The property and casualty insurance industry is stable. And —
fingers crossed and barring a major catastrophe or two — it will
likely remain that way all through 2014 and into 2015.
Or so say experts, like Insurance Information Institute
President Dr. Robert Hartwig.
The Obamacare penalty: 4 million to pay
We all know the law. If you don't have health insurance and
didn't register on an exchange for health insurance — or if
your employer does not provide you with such insurance
and you don't purchase it on your own — you pay a fine.
Several million people ignored the law.
Financial literacy: The 10 least literate states
A study commissioned by NAIFA shows
financial professionals — and that
includes insurance producers — as being very
important to consumers. It found that
people need sound financial advice to
survive in today's difficult economy. It's available to these professionals, and probably even more available
than it has been in the past.
What's unfortunate, is how few people
make themselves available to sound, expert financial planning.
Tragic irony and Paul Walker update
Auto accidents that kill both spouses happen all the
time. But never like this one. Recently in Texas,
Nicholas Cruz and his wife Kristina Munoz were killed in
a terrible car wreck.
What's unusual is they were in separate vehicles.
Missed last week's issue? See which articles your colleagues read most.
Insurance Business America: The next generation
Insurance Business America is doing a series of
very interesting stories on the future of insurance. The
series is titled "Next Generation" and it looks at what it
calls the "plight" of insurance agencies everywhere. The publication cites statistics showing we'll be losing a quarter of those working in the
industry by 2018. Workers are going into retirement or are dying, and the hiring of
younger people to fill those positions is lagging.
May rates: Still trending up
MarketScout's May rate report for commercial and
personal lines shows rates still are trending up. On average,
both jumped 3 percent. MarketScout CEO Richard Kerr said
on his firm's barometer, both lines range between flat
and no movement at all and are "adjusting upward."
National Alliance names annual outstanding CSRs
Each year, a group of exceptional insurance
professionals are chosen by The National Alliance
for Insurance Education & Research to represent
their states and compete to become the National
Outstanding CSR of the Year. This prestigious
award — regarded as the foremost national award
of its kind — recognizes the contributions and commitment of those who serve clients
within the insurance industry.
PIA Weekly Industry News
Colby Horton, Vice President of Publishing, 469.420.2601
Download media kit
Rebecca Eberhardt, Content Editor, 469.420.2608
Gary Wolcott, Editor/Writer for PIA Western Alliance, 503.724.9028
Be sure to add us to your address book or safe sender list so our emails get to your inbox. Learn how.
This edition of the PIA West Weekly Industry News was sent to ##Email##. Did someone forward this edition to you? Subscribe here -- it's free!
June 4, 2014
May 28, 2014
May 21, 2014
May 14, 2014
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063