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  Text version    RSS    Subscribe    Unsubscribe     Archive    Media Kit November 26, 2014

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  Industry News


Montana's Monica Lindeen new NAIC president
PIAW
The National Association of Insurance Commissioners has elected its 2015 officers and Montana State Auditor and Commissioner of Securities and Insurance Monica Lindeen is the association's new president. She takes office Jan. 1. A news release from the NAIC says as NAIC president she will chair the NAIC Executive Committee, Government Relations Leadership Council, NAIC/State Government Liaison Committee and the International Insurance Relations Leadership Group.
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Congress starts looking at private flood insurance
PIAW
The House Financial Services Subcommittee on Housing and Insurance is looking at private flood insurance as an alternative to the flood policies. It held a hearing recently titled Opportunities for a Private and Competitive Sustainable Flood Insurance Market. The subcommittee is looking at a bill — H.R. 4558 the Flood Insurance Market Parity and Modernization Act of 2014 — introduced by Florida Representatives Dennis Ross and Patrick Murphy. If passed, H.R. 4558 alters 1973's Flood Disaster Protection Act.
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Looking for similar articles? Search here, keywords FLOOD INSURANCE.


Organic growth, renewals and Q3 results
PIAW
Reagan Consulting's Organic Growth and Profitability Survey said organic growth in the third quarter is below predictions. It hit 6 percent. That's down 0.8 percent from 2013's third quarter but up 0.2 percent from the second quarter. That has some optimistic. The beginning of 2014 prediction said organic growth would be 7 percent by the third quarter. Reagan Consulting President Kevin Stipe said, "Organic growth is a bit slower than a year ago, and concerns about a softening market in commercial property and casualty insurance are building."
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PIA's predicted Obamacare commission losses a reality
PIAW
PIA National, representatives from the PIA Western Alliance boards and states and others in the insurance industry pleaded with the Obama administration to not include agent commissions in the medical loss ratios of the Patient Protection and Affordable Care Act. Those pleas — and the logic of not including agent commission in the ACA — fell on deaf ears. The administration either didn't understand how badly this would impact the nation's independent agents or didn't care.
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PIA Weekly Industry News
Colby Horton, Vice President of Publishing, 469.420.2601
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Gary Wolcott, Editor/Writer for PIA Western Alliance, 503.724.9028   

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