This message was sent to ##Email##
|
|
|
|
|
| |
PIA Western Alliance
They came from all over for the annual PIA Washington/Alaska and Independent Insurance Agents and Brokers of Washington (IIABW) conference. Some were there the whole three days. Others popped in just for the massive trade show.
Then there was golf, a world-class poker tournament, bingo, camaraderie and fun. And all of it in one beautiful setting at Renton, Washington's Hyatt Regency Lake Washington. PIA Washington/Alaska had a changing of the guard.
READ MORE
PIA Western Alliance
Hurricane Florence is going to be one of the costliest disasters in U.S. history. Moody's Analytics has estimated the economic damage at $38 billion on the low end and $50 billion on the high side. If it hits $50 billion — which the hurricane's damage easily could do — Florence will be the 7th largest storm we've experienced.
The Moody's estimate includes property damage, vehicle losses and lost business output. The good news — if good news can be found in a disaster of this magnitude — the last three hurricanes to land on U.S. soil were more expensive than Florence.
READ MORE
PIA Western Alliance
The auto accident was over 12-years ago. James Harvey was found at fault in a crash that killed John Potts. Harvey had $100,000 in coverage. GEICO issued a check. Where the bad faith comes into play is in how the claims adjuster failed to answer questions from Potts’ estate as to the extent of Harvey's assets and whether he was working at the time of the accident.
The Potts' estate rejected the $100,000 settlement and filed a bad faith lawsuit. As a result, the estate was awarded $8.7 million.
READ MORE
 |
|
Promoted by
 MKL Agency-Broker.com
MKL has decades of experience in navigating the complicated process of selling insurance agencies - we work tirelessly to find the right buyer for every seller, in all 50 states.
|
|
PIA Western Alliance
William J. Hold — the son of founder and president William T. Hold — has been named the National Alliance for Insurance Education and Research's chief executive officer. He will assume the day-to-day leadership of the organization and in two-years will assume the presidency.
Hold has been with the National Alliance since 2006 and has filled a number of positions including chief development officer. As chief development officer he led efforts to develop the Alliance's University Associate Program for the CIC and Certified Risk Manager programs.
READ MORE
PIA Western Alliance
A.M. Best has a new report — which is insurance traditionally long titled — Surplus Lines Push Through Various Headwinds for Higher Growth. It finds the surplus lines market grew by 5.8% in direct written premiums in 2017.
Best said surplus lines — because of that — will remain financially sound going forward. Here's more of what the report found.
READ MORE
PIA Western Alliance
The House Financial Services Committee has passed a bill onto the full House to force federal financial regulatory agencies to adopt a national standard for data security measures. The bill also says that financial institutions will now put notification system standards in place for a breach or unauthorized access.
PIA National objects to the Consumer Information Notification Requirement Act — H.R. 6743 — as does the National Association of Insurance Commissioners (NAIC). Jon Gentile — PIA National's Vice President of Government Affairs — said the association has two concerns.
READ MORE
PIA Western Alliance
The Trump administration is taking a novel new approach to combating cyber attacks. President Trump signed an order saying the U.S. is now going to go on the offense against foreign adversaries engaging in negative cyber activities. The move rescinds an Obama administration directive on how cyber defense can be carried out. It said several government agencies have to agree on the decision to attack.
Trump's national security advisor John Bolton said the hope is to keep bad actors from attacking us in the first place.
READ MORE
| |
MISSED AN ISSUE OF PIA WEEKLY INDUSTRY BRIEF? VISIT AND SEARCH THE ARCHIVE TODAY. |
|
|
|
|
|
| |
PIA Western Alliance
California's Legislature made some insurance and public utility changes that will have a big impact on the future of the state. Governor Jerry Brown said the Legislature didn't go quite as far as he wanted. In the case of utilities it was to limit liability over wildfires caused by equipment failure.
It's called inverse condemnation. That means whether a company follows the rules and makes sure their equipment is safe, if that equipment causes a fire, the utility is responsible. Brown and the utility companies don't think that's fair.
The Legislature disagrees.
READ MORE
PIA Western Alliance
California — Fair Claims Settlement: From the California Department of Insurance: After a decade of legal wrangling over the regulations that implement the Unfair Insurance Practices Act (UIPA), a three-justice panel of the California Court of Appeal, 4th Appellate District, upheld the Insurance Commissioner's Fair Claims Settlement Practices Regulations, which prescribe how insurance companies must ...
READ MORE
|
|
|
|
|
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063
|
