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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 leads charge for navigator standards
An intensive lobbying effort by PIA National has resulted in
33 members of Congress sending a letter to Health and
Human Services Secretary Kathleen Sebelius. The
letter pressed her on standards for health care navigators
who will be helping people buy insurance in the soon to be
operational Obamacare insurance exchanges.
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Around the PIA Western Alliance states
Updates on PIA Western states.
Got big data plans? Get ready to deal with data storage
Most may consider storage to be an unappreciated field of endeavor. Like taxes, it's something organizations know they have to begrudgingly dig into their pockets to throw money at.
But in this era of big data analytics, storage needs to be recognized for what it is: the very foundation of business growth. That is, without it, there can be no growth — and no security or compliance, either.
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.
Campaign launched attempting to reach the uninsured
The Associated Press via InsuranceNewsNet.com
A nonprofit organization has launched a campaign targeting states with high numbers of those uninsured in attempt to provide clear messages about the health care overhaul and insurance programs that are available under the Obamacare plan.
Analysis: Best practices for monitoring property, casualty and worker's comp claims
In claims management, preventive measures are still the best way to control costs. However, claims are going to occur, so having the right plan in place to manage them becomes critical. A client's claims-management functions can have significant impact on how insurers view the risk during the underwriting process.
A bright future for agent, carrier interfaces?
For several years now, a group of agents, carriers and vendors have worked together to promote standardized electronic interfaces using ACORD standards. Part of their efforts include annual Realtime/Download Surveys, and for the 2013 edition, responses were obtained from about 2,200 agents throughout the United States and Canada. While the results were promising for the Realtime and Download technologies in the future, agents are hoping that they can work together with carriers to increase the speed and accuracy of the interfaces.
| Industry News from PIA Western Alliance|
Obamacare crisis in Congress: Not what you're thinking
The implementation of the
Patient Protection and
Affordable Care Act —
Obamacare — is causing
some consternation in
Congress. And for once it's
not because one party wants it
repealed or the other wants an expansion.
It involves who got included in the law when it was passed.
Bigger health insurers avoiding Obamacare exchanges
The largest health insurers in the nation are either
avoiding involvement in the Obamacare exchanges or
they are keeping their participation to the states where
they are already offering insurance. That means smaller insurance companies are becoming
more important in the overall scheme of things. It also means that some states will only
have one or two choices for health insurance rather than the plethora of choices
envisioned by the Democrats when they crafted the Patient Protection and Affordable
CLIPS: Commercial Insurance Rates
Towers Watson's Commercial Lines Pricing
Survey is also known as CLIPS. In the first
quarter of 2013 report, CLIPS hints that the soft
market may be over for commercial lines. It
says commercial insurance rates are up 7 percent in
the first quarter of 2013 when compared to the
first quarter a year ago.
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Senate passes farm bill
Recently, the U.S. Senate easily passed the
farm bill by a vote of 66-27. The five-year, $500
billion bill expands crop insurance and cuts roughly
$4 billion — over ten years — to the food stamp
program. The Senate bill also creates a shallow loss
program that will compensate farmers for small
losses before crop insurance comes into play.
The House may pass its own bill sometime soon.
Deloitte: Small business likes buying insurance online
Deloitte's recent study is revealing. The report, " Voice Of The Small-Business Insurance
Consumer Are Buyers Ready To Take The
Direct Sales Route?" looks at how small
businesses and businesses in general view
purchasing insurance online.
General liability — says Deloitte — is the most likely online purchase and workers'
compensation is the least likely. And those shopping online expect discounts.
Seller transparency: The threshold of acquisitions
Rick Dennen, president and CEO of Oak Street Funding
We talk a lot at Oak Street Funding about the importance
of due diligence before the acquisition of a business or
book of business. From white papers to articles to
webinars, we try to educate agency principals with the
hope of preventing acquisition failures. Just when we fear we're starting to sound like a
broken record, we hear another first-hand account of a deal gone bad, affirming the
need for this education.
Insurance agencies: Technology profitable
Vertafore is an insurance software and
agency management systems
company. It took an interesting survey
at the recent Network of Vertafore
Users conference. The most interesting statistic is that 77 percent of those surveyed
said technology helped their agencies grow fiscally.
People trust insurers with their data
Personal data and who is doing what with
that data is a hot news item these days. The
federal government is accused of mining emails and phone numbers. Hackers are
ripping personal information from companies by the dozens.
It's scary out there. While we don't tend to trust government, a new poll by Allstate says we do trust the
Pet insurance: A new company health benefit
Here's a new twist on employer health care coverage.
Veterinary Pet Insurance did a study and found
that 1 in every 3 Fortune 500 companies are now
offering employees pet health insurance.
2012 weather disasters: Expensive
The National Climatic Data Center said the U.S.
experienced 11 disasters generated by weather
and climate that caused $1 billion in damage or
more. In those disasters more than 300 people
died. It's the second most costly and active year on
Finally: The FIO report — kind of
Federal Insurance Office Director Michael McRaith has released
his long anticipated — and very late — Dodd-Frank Actmandated
report. It's not exactly what the insurance industry —
or the federal government for that matter — was expecting.
Missed last week's issue? See which articles your colleagues read most.
Pacific Coast cue for a major earthquake
We hear a lot about how people
worry about the "big one" in
Southern California. Another area of
the West coast is also of concern. It
is the Pacific coast. Audrey
Dallimore of British Columbia's
School of Environment and
Sustainability at Royal Roads
University said the Pacific coast is
overdue for a major earthquake.
You're seeing more insurance advertising than ever.
SNL Financial says Allstate upped its television
advertising by 14.8 percent over 2012's stats. State Farm
has reduced its advertising by 4.4 percent to $777.9
A good night's sleep — what's that?
We don't sleep very well.
A sleep study called Rx Sleep Survey done by
Targeted Medical Pharma found that 83 percent of us don't
often get a good night's sleep. Yet, just 25 percent of us are
willing to take a prescription medication of some sort
to help us sleep better. Seventy-one percent would rather find another way.
Insurance employment — dropping
The Insurance Information Institute did an analysis
of April's insurance employment numbers. They're down.
Or so says Dr. Robert Hartwig, the institute president. He
said insurance lost 1,400 jobs in April compared to
March. The new number hurt the gains the industry has made recently.
Just for Fun: Great golf quotes
If there is a most favorite sport for
the insurance industry, it is likely
golf. A huge percentage of the
people working in the industry
play. The game is a blast and some
unique characters have mastered
the game. Others, famous in
other fields have mastered it, too.
But does anyone really master golf? Probably not.
With warmer and dryer weather, fanatics are playing more golf and having whatever fun
the game allows one to have. If you're not having fun, maybe these quotes will at least
bring a smile to your face and some relief from that blown putt or drive.
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063