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A global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited, the ACE Group conducts its business on a worldwide basis with a physical presence in 53 countries.
PIA National: WYO flood bulletin
The Federal Emergency Management Agency
has issued a bulletin w-13032 relating to obtaining flood
insurance coverage. It addresses whether a Standard
Flood Insurance Policy could be purchased
solely in a shareholder's name, which would provide
building coverage to the shareholder instead of the
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Around the PIA Western Alliance states
Updates on PIA Western states.
3 key tech strategies for insurance providers
Getting old isn't easy, but a majority of recently surveyed insurance executives believe that an integrated software platform could help rejuvenate everything at their companies from competitive differentiation to customer satisfaction. More than 200 executives primarily from the United States participated in the survey, which was conducted by SAP at the recent IASA Annual Conference in Washington, D.C. One of the most recognized and best attended trade shows for the insurance industry. Modernizing systems was top of mind for many of the attendees.
COST manages and operates insurance premium finance companies for clients nationwide. The COST Program™ enables you to focus on your core business - running your insurance agency or company - while increasing profits, improving customer service, controlling the finance process, enhancing market value, creating a profit center for your business, and adding to your bottom line with no extra staff or fixed expense - If you aren't earning $30,000 to $40,000 per $1mm financed contact COST today.
A major data migration from the mainframe to Windows
A few years back, there was speculation that most mainframes would be turned off, and their applications and data moved to Intel and AMD-based servers. But the mainframe grew more open, and many IT managers recognized that attempting to rip and replace years' worth of painstaking programming and logic was more risk than it was worth. But, that doesn't mean it can't be done.
10 cheat-sheet tips about websites
By Mark MacDonald
As we all know, life isn't about passing exams, it's about learning how to do things properly when the opportunity arrives. That's success. Mark MacDonald is a professional in giving businesses direction about their website design and content; so he's been accumulating quick, easy-to-remember tips that will help them develop websites that work. Print this article as a cheat-sheet to ensure you'll pass the test of an effective website.
Industry Pulse: Does your website have enough white space on the home page?
| Industry News from PIA Western Alliance|
Agents and commissions: Obamacare MLR bill
PIA is hailing a bill just introduced in Congress that — if passed —
will change how health insurance commissions for agents are
calculated in the Patient Protection and Affordable Care Act. In its
rule making for the soon to be fully implemented law, the Obama
administration included agent commissions in the medical loss ratio portion of the law.
Obamacare and the IRS
Scandals have rocked the
Internal Revenue Service.
The Obama administration is
under heavy criticism for the
targeting of conservative
groups by the IRS. The IRS
has also spent heavily on
conferences. From 2010 to
2012 it spent $50 million and
one conference alone cost $1.4 million. At the same time, the IRS is an integral part of the Patient Protection and Affordable
Care Act — Obamacare.
Let's wait: Congress and flood insurance rate increases
The Biggert-Waters Flood Insurance Reform Act of 2012
includes flood insurance rate reform and rate increases for
flood insurance. Now that the increases are on the way,
some members of Congress want to delay them.
Affordability for consumers and constituents is the issue.
Special report: Obamacare confusion continues
The polls say people still oppose the
Patient Protection and Affordable Care Act
— aka the Affordable Care Act, the ACA
and Obamacare. Opposition is 55 to
40 percent, said a recent Fox News poll. Other
polls have similar numbers.
Still other polls say quite a few of us have no clue what to do when October rolls
around and the health insurance exchanges open in all 50 states —
if they open on time but more on confusion over the exchanges in a bit.
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Farm bill defeated in the US House
The Senate has passed a new bill. That may be as
far as it gets for a while. The U.S. House of
Representatives last week said no to its version. The
Senate bill and House bill just defeated were close
with the exception of food stamp funding. In the
House the funds for food stamps were quite a bit
lower than the Senate version.
NAIC, teen driving — keeping teens safer
We all know more teenager die in traffic accidents in the summer months than at any
other time. These days distracted driving is the No. 1 cause of teen fatalities.
The National Association of Insurance Commissioners has a campaign to keep teens
safe while driving. NAIC President and Louisiana Insurance Commissioner Jim Donelan
said, "As parents, the ultimate goal when our kids start driving is to ensure their safety
and the safety of others. That starts with establishing expectations. The good news is
that by setting boundaries, we are making the roads safer for everyone. As a parent and
insurance commissioner, I know that fewer accidents are a goal we can all get behind."
US Supreme Court and Katrina
The U.S. Supreme Court says the Federal Tort Claims Act
protects the Army Corps of Engineers from being sued for
not properly maintaining a shipping channel. At issue
were hundreds of claims filed against the Corps over
flooding caused by Hurricane Katrina in 2005. The decision upholds a federal appeals court ruling that
said a lower court could not hold the Army Corps of
Engineers responsible for widening a canal and not
Telematics: A growing trend
The days of controversy are over. Insurers
and insureds are in agreement. Telematics
is here to stay and is growing in popularity.
We start with a report from business
consultants Frost & Sullivan.
As an aside and maybe someday we'll do a
story on this, their study title — like many of
those done in the industry — is a full
FIO: The feedback begins
Here's the message. The National Association of
Insurance Commissioners CEO Ben Nelson to
Congress: "FIO does not speak for insurance
Period. In testimony before the Subcommittee on Housing and
Insurance of the House Financial Services Committee on
June 13, Nelson said the Federal Insurance Office
and the Treasury Department should show deference to
state insurance regulators in certain regulatory forums.
Missed last week's issue? See which articles your colleagues read most.
Auto rates rising — customers unhappy
The annual J.D. Power 2013 U.S. Auto Insurance Study has some interesting stats.
Customer satisfaction is down from the 2012 all-time satisfied high. That's the bad
news. The good news is that customers — compared to a decade ago — are still much
happier with auto insurance than in the past.
Meet the millennials: Generation Y
MarketWatch did a fascinating 10-fact expose on
Generation Y. They're also known as millennials and
were born in the 1980s and 1990s. Millennials are
now somewhere between the age of 18 and 34. The National Conference on Citizenship says
millennials are 82-million strong and now outnumber
their baby boomer parents. How they differ from their
parents and their older brothers and sisters is an
interesting and unique study.
Tabulating: Oklahoma tornado claims
Oklahoma's department of insurance released
some recent stats on the insured damage
from the May tornadoes. At that point there
were 70,782 insurance claims filed and
payouts will total around $562 million. Oklahoma Insurance Commissioner John
Doak is thrilled that so many Oklahomans
were insured. "These numbers are more proof
of the dramatic impact the tornadoes had on
our state. Thousands of Oklahomans are now
in the process of rebuilding their lives.
Insurance can help them do that and I am glad
to see that so many of the victims were
Here's a breakdown for May 19 and 20.
The industry: Berkshire Hathaway, Allstate and AIG
Warren Buffett and Berkshire Hathaway
have launched Berkshire Hathaway
Specialty Insurance. It's the firm's new
commercial property/casualty group and it
is headed by several former American
International Group executives.
That includes Peter Eastwood the former
president and CEO of AIG's property/
He will head up Berkshire Hathaway Specialty Insurance.
Just for Fun: An unhappy event for happy birthday
It's the most sung song on the planet. Most
of us get it sung to us once a year. We all
know all the words and it's probably one of
the first songs — if not the first song a
small child learns. The song is 120-years
old and the lyrics total 16 words.
We're talking about happy birthday.
PIA Weekly Industry News
Colby Horton, Vice President of Publishing, 469.420.2601
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Rebecca Eberhardt, Content Editor, 469.420.2608
Gary Wolcott, Writer for PIA Western Alliance, 503.724.9028
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June 26, 2013
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