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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.
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 PIAW Happenings


Around the PIA Western Alliance states
PIAW

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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.

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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


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.
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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 Virginia.
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 Industry News from PIA Western Alliance


Cyberinsurance: Growing interest, urgency
These days cybersecurity is a hot topic for business and government. 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.
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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.
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This week's poll: The American Dream: Are we better or worse off than our parents?
ANSWER NOW
Last week's survey: No steering wheel? No brakes? Would you "drive" a vehicle like that?
SEE RESULTS


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.
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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.
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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 year.
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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.
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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 employees. What makes this so important is that most insurance agents work with small- and medium-size businesses.
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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.
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Looking for similar articles? Search here, keywords OBAMACARE EXCHANGES.


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Transformational thinking in insurance human resources management
Insurance Networking News
There are significant trends that are putting pressure on insurers to undertake major transformation programs. For starters, consumers are more informed than ever. Their buying and service savvy is creating the necessity for insurers to shift from being product-focused to being customer-centric.

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Cybersecurity: Congress on the move
PIAW
The Deter Cyber Theft Act of 2014, S. 2384, has been introduced in Congress. Unlike other bills of its type, this one has an excellent chance of passing. One reason is because it is a bipartisan effort.

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IRS rules on dumping employees on Obamacare exchanges
PIAW
To respond to the headline in a few of words: If you are a large employer with more than 50 employees, you cannot offer tax-free subsidies to buy policies in the public online marketplaces.

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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.
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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.
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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.
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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.
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    PIA National peeks into the future (PIAW)
When getting the client's signature may not be enough (by Curtis M. Pearsall, CPCU, AIAF, CPIA, President of Pearsall Associates Inc. and Special Consultant to the Utica National E&O Program)
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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.
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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."
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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.
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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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