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ObamaCare: No Clear Plan
In the next week or two, the U.S. Supreme Court is basically going to decide the fate of the Patient Protection and Affordable Care Act, aka the Affordable Care Act, aka ObamaCare. The fate of the health insurance of millions of Americans rest on the court's decision on whether the subsidies being given to those forced to the federal government's HealthCare.gov for their insurance is constitutional.
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AIG Federal Government Ruling: Greenberg to Appeal
On June 15, U.S. Court of Claims Judge Thomas Wheeler said Maurice "Hank" Greenberg and Starr International are right. In 2008 the U.S. government did not have the right to take a huge percentage — 79.9 percent — of AIG stock in exchange for the original $85 billion the company needed to not go bankrupt. Greenberg and Starr are AIG's largest stockholders.
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The Fed & the FSOC & Insurers & Capital
Insurers all over the country have complained the Wall Street reforming Dodd-Frank Act has put them under the same rules as banks. Insurers designated SIFI — or significantly important financial institution — must follow Dodd-Frank's bank-centric regulations. Insurers and banks are light years apart when it comes to how they operate financially.
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Update: Google's Compare
A few weeks ago, Weekly Industry News did a long expose on Google entering the insurance industry. It's product is called Google Compare and several insurers have opted to participate. It's PIA's premise that people ought to use an independent insurance agent for insurance advice and not an Internet service.
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NFIP Under Fire: Sets up Call Center
The National Flood Insurance Program (NFIP) is under fire. It's billions in debt and now the Write-Your-Own (WYO) insurance program is being criticized from a number of quarters for claims failures from Superstorm Sandy. Chief among those casting criticism is New York Sen. Chuck Schumer who has called for the WYO program to be terminated.
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Technology Use Critical for the Independent Agent & Agency
Velocify sells automation software. While not exactly unbiased, Velocify does have some experience in the matter of the use of technology in getting insurance sales results. The conclusion of a recent study by Velocify goes something like this: if you're not using technology to its full potential, you are not close to as successful as possible. Don't feel alone if you're not. Velocify director of research Jorge Jeffrey said a huge percentage of independent agents are in the not category.
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Working from Home: 12 Struggles
These days, a lot of us telecommute. That's a fancy term for work from home. For some of us it's all the time. Others get to play with others and will split time between the home office and the business office. For others there is a third office. It's called a golf course but that's a topic for another day. Those of us who work from home, and strictly from home, know it's not the panacea those stuck 8-to-5 in an office think.
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House Votes to Repeal ObamaCare Medical Device Tax
The final vote was 280 to 140. In all 46 Democrats agreed with the Republicans who voted yes. The place is the U.S. House of Representatives and the issue is the ObamaCare tax on medical devices. The tax is 2.3 percent and it affects 7,000 manufacturers who build things like ventilators or X-ray machines. Critics say the tax holds back innovation.
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Around the PIA Western Alliance States


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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    AIG & Greenberg's Federal Suit — Wins it All, Gains Nothing (PIAW)
Flood Insurance: Do Poor Cities Pay More? (PIAW)
Hiring: Make Your Agency a Best Place to Work (PIAW)
A Few Minutes with David Gabrielsen — Capital Premium Financing (PIAW)
Wildfire: 4.5 Million Homes at Risk this Summer (PIAW)

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

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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