This message contains images. If you don't see images, click here to view.|
Advertise in this news brief.
NAIC pushes Obama administration to support state regulation
National Association of Insurance Commissioners
President and Louisiana Insurance Commissioner Jim
Donelon wants to open discussions with the U.S. Treasury
regarding state-based insurance regulation. The NAIC
wants the Treasury to provide more support for state-based
regulation in all forums, particularly in the
discussions of the International Association of Insurance
| Share this article:
PIA National wants nominations for 3 prestigious awards
PIA National is looking for nominations for its three
prestigious 2014 awards. They are:
The awards will be presented during a luncheon
ceremony on March 28 in Arlington,
Va. The ceremony is held in conjunction with
the 2014 PIA Federal Legislative Summit and the 2014 PIA National Spring Governance
- The 2014 PIA National Professional Agent of
the Year Award
- The 2014 Customer Service Representative
(CSR) of the Year Award
- The 2014 Young Insurance Professional
(YIP) of the Year Award
The states and health plans
PIA National reports that officials in at least a half-dozen
states are taking action against health plans in new
insurance markets that restrict the choice of doctors and
hospitals to curb medical costs. Leading the pack is
Washington Insurance Commissioner Mike Kreidler. He has
prohibited several health plans from the state's online
exchange for what he described as inadequate caregiver
Why HealthCare.gov should have been a mobile app
By Alex Bratton
Of all the problems with the HealthCare.gov site, perhaps the most baffling is why it was created as a website in the first place. The main target of the HealthCare.gov website is young, healthy millennials, those aged 18-29 years old. Since millennials don't run up big healthcare bills, their monthly premiums will subsidize the insurance benefits of nearly 4.3 million older and less healthy Americans. The problem with HealthCare.gov is that these millennials don't get their information the same way as older generations.
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!
Obama to urge 'young invincibles' to buy health insurance
Los Angeles Times
President Barack Obama will urge young people to sign up for health insurance at a White House forum aimed at mobilizing a demographic that is crucial to the success of his signature health care law. The recent youth summit at the White House — and the evening Google chat with White House advisors David Simas and Kal Penn to reach a wider audience — will offer Obama a chance to reengage young people, a White House official said, and the president will make brief remarks.
Rule spells out how insurers must cover mental health care
The Mental Health Parity and Addiction Equity Act of 2008 requires health plans that offer benefits for mental health and substance use to cover them to the same extent that they cover medical and surgical care. Among other things, the law prohibits treatment limits and copayments or deductibles that are more restrictive than a plan's medical coverage.
| Industry News from PIA Western Alliance|
HealthCare.gov: Working but data not getting to insurers
HealthCare.gov's back-end is not
finished. It's — depending on who's
talking — 60 to 70 percent done. The
back-end is where insurers get
information on insureds signing up for
health insurance coverage.
Reform of flood reform: Does not resonate with everyone
Last year, the Biggert-Waters Act "fixed" a broken National Flood
Insurance Program. Or did it?
The law began phasing in actuarial rates for flood insurance.
Once the rates began changing, the screaming started and some
claim they unfairly were being hit with high rates. Most of the
complaints are in hurricane prone states, like Louisiana and
Mississippi. The U.S. House and Senate are looking at similar but different bills to delay those rates
until a study can be done on who is impacted by what.
Obamacare shift: Administration says use agents/brokers
Just before Thanksgiving, the Obama administration said small
businesses won't be able to use the HealthCare.gov website to
get insurance for their employees until November 2014.
That applies to the 36 states HealthCare.gov serves and not
the others. Businesses will still be able to shop for plans at healthcare.gov, however, they just won't
be able to sign up their employees. So why shop, right?
Missed last week's issue? See which articles your colleagues read most.
RIMS wants CLAIM Act passed
The Risk and Insurance Management
Society likes the Claims
Licensing Advancement for Interstate
Matters Act — also called the CLAIM
Act. It has been introduced in the U.S.
House of Representatives. The bill calls upon the National
Association of Insurance
Commissioners to establish
uniformity and reciprocity in states that license claims adjusters. To accomplish that
goal, the bill sets up a multistate test for licensees rather than the individual tests now
given by the states.
Year end and new regulations; some worried
It's the end of the first year of President Barack Obama's
second term. At the end of the first year of
whatever administration is in power new
regulations are put into play. They have to be
introduced in the second year or they don't have
time to get done before a president's term is
complete. Many of the regulations will be opposed by business.
No faith in small business and Obamacare
The Obama administration is now encouraging small businesses to use agents or
brokers for health insurance for their employees. The SHOP program that was to be for
these small businesses won't be working until November. Julie Bataille of the Centers for Medicare and Medicaid
Services said, "The particular mechanism we have
outlined today in many cases is very familiar to the small
business community and is something that will work for
Obama's promise not kept in many states
A bunch of state insurance
commissioners have said no
to President Barack Obama's plea to help him
keep his "If you like your current health
insurance plan, you can keep it" promise. Obama even reached out to National Association of Insurance Commissioners
officials to get them to push the nation's insurance commissioners to cooperate. Many
have not. And those that aren't, say his compromise doesn't work.
Time for an E&O reality check
by Curtis M. Pearsall, CPCU, AIAF, CPIA, President of Pearsall Associates Inc. and Special Consultant to the Utica National E&O Program
An important component of errors-and-omissions loss
prevention involves continuous improvement. This is an ideal
time of year for agencies and their staff to assess the level of
their E&O culture and commitment. In some respects, making
this assessment is easier said than done. Perhaps a more
appropriate way to look at it is whether your agency is a better
E&O risk today compared to the same time a year ago. Honesty is critical for this
exercise to have any real benefit for the agency and each staff member.
| Looking for similar articles? Search here, keyword E&O.|
||MOST POPULAR ARTICLE
Beyond insurance: How to protect both the business and personal assets
By David B. Mandell, JD, MBA, and Jason M. O'Dell, MS, CWM
In our litigious society, business owners, as well as their companies, are high-visibility lawsuit targets. Lawsuits and claims from employees, customers, competitors and even the government are part of doing business today — in virtually every field, including the insurance industry.
Insurance companies learn to gaze into the future
Recently, James Taylor, president of Decision Management Solutions, in cooperation with SourceMedia, published the results of a survey on the use of cloud to support predictive analytics, finding a majority of companies from all industries are enthusiastic about its potential.
Conning: Insurer performance — small, mid-size do best
Conning — the research and consulting company
— just issued an interesting report. Titled Growth
and Profit Leaders in Personal Lines Insurance,
it outlines which personal lines insurers have done
the best from a growth and profit standpoint in the
Small and mid-size insurers — surprisingly — beat
out their larger kin.
Special report: Insurance rates and 2014
MarketScout's CEO Richard Kerr said
commercial insurance rates rose by 4 percent in
November when compared to a year ago.
Personal lines rates jumped 3 percent for the
same time period. Rates have been climbing for the last
couple of years. But Kerr said that may be
coming to an end. "If insurers' profits are
tallied as anticipated, we expect lower rates in 2014."
US Chamber: Systemic risk designation — limits needed
The insurance industry has a new ally. The
U.S. Chamber of Commerce says the
Dodd-Frank Act's Financial Stability
Oversight Council needs some
limits on how it designates nonbanking
businesses whose failure would pose a
threat to the entire U.S. economic system.
Update: Catastrophe costs
A recent and rare tornado event across
the Midwest caused 81 twisters. That
includes two EF-4 — 166-200 mph — storms in Illinois. The events caused
total insured losses of more than $1
billion. The increasing number of tornadoes
with billion-dollar losses is the reason
insurers and reinsurers are more
focused these days on noncoastal weather events. It's also why there is now a bigger
push for tornado resilience in both residential and commercial structures.
Uninsured drivers: A growing concern
Uninsured drivers are becoming an increasing
concern of state officials and state regulators.
Crashes involving uninsured drivers are costing the
victims millions of dollars in medical and property
bills. Estimates from the Insurance Research Council show 14 percent of the drivers out
there are not insured. The IRC calls it a "chronic" problem that states have not been
able to fix.
Google Glass wearing lady ticketed
It had to happen eventually. The first ticket in the
nation for someone wearing Google Glass glasses
while driving was handed out in San Diego in
October. Cecilia Abadie was stopped for speeding.
The officer stopping her noticed that she was wearing glasses called Google Glass. Though she denied having Google Glass turned on while driving, she pleaded guilty in
court to both charges.
Around the PIA Western Alliance States
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063