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Getting rid of Congress and the government shutdown
While the people of the U.S. are glad the
stalemate between the Republicans and the
Democrats and the president over the debt
extension and money to run the federal
government is over, they're still really angry
with Congress and the administration. Fairly recently, an NBC/Wall Street Journal article stated that a huge percentage of us want to
replace the current Congress. As the agreement was reached, Republicans and Democrats and the president all
continued to point at each other in the game of blame. President Barack Obama signed the bill
and reopened the government. He said the deal lifts a cloud of uncertainty and unease.
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PIA partners: Helping you reduce MVR expenses
PIA National has formed a groundbreaking and
revolutionary partnership promises to change the
way you use motor vehicle reports.
Through PIA's exclusive partnership with Drivers
History, PIA members can access a program called
DocIT, a Web-based, propriety database of driver
violation data that is available to you at a fraction of the cost of a typical MVR.
A new Deductible Reimbursement Insurance is now available to all residents of the Western Region (except Alaska). Licensed insurance agents may now sign up on the ZeroDeductible website and offer deductible reimbursement insurance to their clients directly for their auto, home and boat policies.
Click here to learn more!
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Congress: On with the business of crop insurance
Now that Congress has settled the issue of raising the
national debt and restarted the federal government,
President Barack Obama is onto other things. He recently attacked
Republicans in the House for not passing a farm bill.
Obamacare: A question and an observation
The Obamacare marketplaces — or
exchanges if you're not keeping up with
terminology — are open in all states. People
still are reporting that it's almost impossible
to get onto the ones operated by the federal
government and some of the exchanges
operated by the states. The marketplaces are accessed online. You can't go to an office locally, regionally or
statewide to get access. It's all online. Pew Research recently found a huge hole in the Obamacare armor. It seems that 21 percent of those
that are uninsured and who must get said health insurance by Jan. 1 or face a fine,
are not online and are not Internet users.
What's changed in the world of agents' E&O?
By Curtis M. Pearsall, CPCU, AIAF, CPIA, President of Pearsall Associates Inc., and Special Consultant to the Utica National E&O Program
Let's go back in time to 1983. It was around then that some
court cases addressed different scenarios of when and by
whom an agent could be sued. In many respects, these cases
helped shape the landscape for the types of plaintiffs we see
with greater frequency today.
The exchanges: Other websites mislead consumers
We have to thank former PIA
Oregon/Idaho president Rich
Kingsley who originally brought this
to Weekly Industry News' attention.
The Obamacare exchanges — now
known as marketplaces — have not
worked all that well the first three
weeks of activity. That has been
detailed to death in news reports. And now, as if not being able to access the sites or being kicked off if a consumer is
finally able to gain access is not bad enough, there are websites out there that can
convince consumers that they're on a federal or state exchange when they're not.
KBW, PIA National: What happened to the hurricane season?
Keefe, Bruyette & Woods tracks things
like underwriting results. The company
just released an
interestingly titled report called, "What If
They Threw a Hurricane Season (And
Nobody Came)? 3Q13 Preview."
In other words, one reason for excellent property and casualty third-quarter insurers
underwriting results, is because of an almost nonactive hurricane season. The report
said, "just to get the obvious out of the way, we expect most insurers should post very
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Federal government shutdown insurance impact
The federal government shutdown has impacts all
over the place. One place it won't impact is flood
insurance. The Federal Emergency Management
Agency managed National Flood
Insurance Program is allowed by law to
continue activities because the NFIP is funded by
5 ways to improve your LinkedIn profile
By Mark Kats
Biggest benefits from technologies include the use of automation and operational metrics, according to a new survey of chief claims officers by Towers Watson.
2012 insurance conduct complaints
Every year for the last nine, Wolters
Kluwer Financial Services has released its
analysis of consumer complaints against
insurance. The data comes from state
insurance regulators. Wolters Kluwer's
Kathy Donovan said — to be fair — one
problem faced by insurers is constantly changing regulations.
Greenberg and the ongoing AIG/Federal government lawsuit
Former AIG president and CEO — and AIG founder — Maurice
"Hank" Greenberg and his company Starr International and some
stockholders are suing the federal government for $25 billion dollars.
He contends the 2008 $187 billion bailout caused him and many
stockholders to lose millions of dollars.
Willis and next year's rates: A big drop predicted
While most insurers and groups tracking insurance
rates see a very positive 2014, Willis does not. In its
recently released "Marketplace Realities 2014:
Innovation and Continuity," Willis said that is not
necessarily a bad thing. An infusion of new capital
into insurers and improved catastrophe modeling,
falling reinsurance rates and not much in terms of
CAT losses in 2013 will case rates to fall.
What the slow pace of modernization costs insurers
Insurance Networking News
CIO advocate at X by 2 Inc., a technology company specializing in software and data architecture and transformation projects for the insurance industry, Frank Petersmark writes: "I had an opportunity to attend the Property Casualty Insurers Association technology conference in September in warm San Antonio. While there were interesting discussions around emerging technological trends — think telematics and real-time risk modeling — thematically, the conference seemed to center on the continuing efforts of carriers to modernize their core systems and processes. This has been a long road and will most likely continue to be a focus for the industry over the next several years."
Missed last week's issue? See which articles your colleagues read most.
Google, Amazon might plant big footprints in insurance distribution
Internet superstars Google and Amazon are likely to become competitors for online insurance sales, according to predictions from life insurance and property-casualty executives polled by Accenture, a global consulting firm. The executives came from 78 European companies, but since they were commenting on digital sales trends and expectations, and since digital is global, the findings should have value to U.S. insurance professionals forming digital strategies.
Effect of 2013 social media trends on your business
By Emma Fitzpatrick
Social Media Examiner reported in its 2013 Social Media Marketing Report that a whopping 97 percent of marketers now integrate social media into their plans. But, according to the report, only 1 in 4 were able to measure the return on investment. Staying on top of the latest social media trends allows you to connect with your customers on a personal, emotional level. Plus, it shows your audience that your brand is forward-thinking. Here are five topical changes in social media that will affect your business this year.
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