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Supreme Court and Obamacare contraceptive mandate
Most of you may know by now that the U.S.
Supreme Court ruled in favor of Hobby Lobby
and Conestoga Wood Specialties. The court
said the two companies cannot be forced to
provide contraceptives as part of the
Affordable Care Act's required health insurance. The decision applies only to "tightly-held" for-profit corporations.
The most serious implication of the decision is that the court has expanded corporate
rights and says that these for-profit companies have
religious rights and can claim religious freedom under federal law.
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| Industry News from PIA Western Alliance|
NAIC: State regulators may not apply global capital rules
National Association of Insurance Commissioners' president-elect and PIA Western Alliance's
state of Montana insurance commissioner Monica
Lindeen said U.S. state insurance regulators may not
apply new global capital rules. They are the first
global insurance rules recently
adopted by the International Association of Insurance
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Insurer risk worries for next 12 months
Every year, Accenture releases a risk worry survey
from The Economist Intelligence Unit. The report is
titled "CEO Briefing 2014" and Accenture calls it the
macroeconomic, geopolitical and global business
insight of more than 1,000 C-suite executives. The focus of
the survey is the future or at least for the next 12 months.
All Risks, Ltd., the Nation’s Largest Independent Wholesale Insurance Provider
Contact our professional underwriters with access to exclusive “A-“ or better rated carriers with competitive rates.
- Storage Facilities (All Lines)
– Aggressive rates and enhanced coverages, plus discounts for association members.
- Restaurants with Delivery (WC) – Single to multi-location/multi-state restaurants are eligible with monthly self reporting plus additional payment plans
- Insurance Agents (E&O) – Comprehensive coverage with varying limits and deductible options for P&C, L&H, MGAs, Wholesalers and more. Many optional coverages available.
- Building Operations (WC) -Direct WC carrier access with low minimum premiums for building operations by owners and contractors.
- Real Estate Owned (REO Property & Liability) - Industry-leading technology to help agencies with financial institutions (regional and community banks) and large investors who service and/or invest in mortgage, vehicle and collateral based loans
Analysis: Swiss Re — insurance premiums grew in 2013
Swiss Re issued an interesting report recently. It
was on premiums written worldwide in 2013. The
report says total written premiums rose 1.4 percent to
$4.641 billion. That's down from the 2.5 percent jump we
Producer pay: An interesting analysis
A few reports were recently published by
Insurance Business America on producer income. The
first is a study by The Omnia Group and the National
Alliance Research Analysis who say producers are
compensated one of four ways. Questions on compensation were posted on www.ibamag.com. The results are very
close with the 2012 Commercial Lines Insurance
Producer Benchmark Analysis.
Alaska's 7.9 quake — whew
A 7.9 magnitude earthquake recently struck Alaska. It was centered about 1,400 miles from
Anchorage near the small island of Little Sitkin. For one
so large, there were no damages reported.
Small business and government — not a pretty picture
The company TriNet — a company that provides human resources services for
small businesses — recently released the figures
from its annual Small Business Confidence Survey.
The survey, conducted by Harris Poll, includes small-business opinions on topics ranging from company
health to federal and government regulation and
These are small businesses that have between 10-49 employees.
Greenburg's Spitzer defamation suit to trial
Former AIG CEO and founder Maurice "Hank" Greenberg sued
former New York State Attorney General Eliot Spitzer over
statements he made in 2012 accusing Greenberg of fraud.
Spitzer tried to stop the suit but the judge said the suit will go
forward and there will be a trial.
Washington Commissioner Kreidler and transgender coverage
Washington Insurance Commissioner Mike Kreidler says
transgender individuals have specific and special health
insurance needs and those needs must be met by health
insurers. The commissioner sent a letter to health insurers
and pointed out that the law clearly states that necessary
medical services cannot be denied based on a person's
gender identity or dysphoria.
Missed last week's issue? See which articles your colleagues read most.
Moody's looks at 6 commercial lines
Moody's Investors Services' "Special
Comment U.S. P&C Insurance Survey:
Slowing Commercial Rate Increases as
Insurers Shift Toward Growth" starts out
with good news for companies with
commercial insurance lines and for the
agents that sell them. Rate increases will continue for the rest of 2014 but not at the
pace we saw in 2013.
National Underwriter's top 100 P&C rankings
Every year, National Underwriter ranks
the top P&C insurers based on the average
combined ratio of each company and their
This year's rankings are based on 2013 numbers. The publication uses data from SNL
Financial and shows that a relatively catastrophe
free year helped everyone.
Core systems: The backbone of customer experience
Insurance Networking News
For years, industry analysts have been touting the virtues of core systems replacement using flexible, configurable and modern systems. Insurers finally have heard this message and are working diligently to make the business case for the change, select and purchase a system or systems and implement them. It's a good time to reflect on something that is discussed much less frequently when talking about core systems replacement: customer experience.
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How not to create insurance awareness
Insurance organizations and practitioners across the continent may have identified the need for public education and awareness campaigns to drive their business, but they seem to be executing these programs the wrong way.
New technology promises rewards, poses risk
Insurance Networking News
With the goal of improving profitability through better decision-making and greater efficiencies in core functions, property/casualty insurance executives are counting on advanced technology to help them get the job done.
Cybersecurity: The Senate, a handbook and more
Soon, the Senate Intelligence Committee is
going to look at a bill that will pave the way for companies
threatened with cyberbreaches or who have experienced a
breach to share information with other companies and the
PIA Weekly Industry News
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