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PIA National's Annual District Lobbying Day
PIA National's annual District Lobbying Day
has come and gone. It was Aug. 20. If you missed it, that's OK.
Our advocacy is spread throughout August
and is centered on lobbying members of
Congress in their home districts. Your members of Congress are in your state for
Congress' summer recess and you can still set up a meeting with one or more of them.
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Win a trip to Hawaii for two!
We are excited to announce the new ratings and reviews feature on the Professional Insurance Agents Marketplace buyer's guide. Now you have the opportunity to share your experiences with a company's products or services with your peers in the industry. Please visit the xyz buyers guide, search by company name and write a review to be entered for a chance to win airfare and seven nights at a luxury resort in Hawaii!
Using social media to motivate
From time to time, PIA National's weekly National Newsline
offers an article that Weekly
Industry News thinks bears republishing.
This week includes one from Ed Gillman of
Gillman Insurance in Atlanta called "Agent to Agent: Using Social Media to Motivate Employees."
It looks at social media and how to use it as
an employee motivation tool.
Keep the profit, reduce taxes, protect assets: Own your own insurance company
By David B. Mandell, JD, MBA, and Carole Foos, CPA
As income taxes and insurance costs have increased in 2013 for many trucking companies and their owners, a popular question we have been hearing lately is, "Would owning part of a small insurance company help my business become more financially efficient?" If your business currently generates over $3 million of revenues and you would like to increase profits, reduce taxes, protect assets and potentially lower insurance costs, then this article should be of high interest.
| Industry News from PIA Western Alliance|
PIA Montana Producer Seminar
The 4th annual PIA Montana Producer Seminar will be held
in Bozeman at the Holiday Inn on Oct. 3-4. PIA Montana's annual Producer Seminar is set and PIA
Montana members — and nonmembers — are gearing up for a couple of days of
excellent continuing education, networking with other agents and company
representatives and getting the latest information on new products and services.
Moody's & Fitch: Insurance income up, loss reserves, adequate
The second quarter net insurance income totals for 2013
look great. Moody's Investor Services gave a comparison that shows P&C insurers with a 58 percent increase
in net income over the second quarter of 2012.
Work comp benefit costs up
The National Academy of Social Insurance said benefit
costs for workers' compensation insurance rose 3.5 percent from 2010
to 2011. An improved economy is the reason.
Dodd-Frank and Great Recession prosecutions
President Barack Obama wants the Dodd-Frank Act's rules
implemented. It has been five-years since Dodd-
Frank passed and federal agencies have only
implemented 40 percent of the financial reform's rules.
Just 40 percent? Get it done said the president.
Missed last week's issue? See which articles your colleagues read most.
Flood losses: Future financial concerns
Scientists published an article in Nature Climate
Change saying unless something is done, coastal
flooding in the future could end up costing more
than $1 trillion a year. Led by economist Stephane
Hallegatte, the group said Miami, New York and
New Orleans are the top potential losers in the
U.S. and the other big worry is Guangzhou, China. They'll shoulder 43 percent of the losses expected through 2050.
This year's costliest disasters
Statistics for half a year are done. Or at least the
preliminary figures are completed.
For the first six-months of 2013, Swiss Re says
insured economic losses from from disasters are
$17 billion. The figure is $56 billion for total
economic losses because of disaster.
It’s much better than 2012.
Controversy ratchets up: Flood insurance hikes
The Biggert-Waters Act reformed the National Flood
Insurance Program (NFIP). Part of the reforms are rate
hikes along the nation’s coasts to bring often too low flood
insurance rates in line.
The decision has not been popular.
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The most expensive states to drive
Bankrate.com is a personal finance website. It
tracks what we spend each year to drive. The total
of how much it costs you to drive is based on the
cost of fueling your vehicle, insurance, repairs,
taxes and fees. Several PIA Western Alliance states — California, Oregon, Montana, Alaska and
Nevada — are in the top-five most expensive and the top-five least expensive.
Update: Superstorm Sandy
Superstorm Sandy is history, but the
impact of the storm on the lives of the
people in the states devastated by the
storm continues. The tremendous
damages caused by Sandy put
insurers under a microscope. People
— hurting from physical and
economic loss — demanded instant
Western states on fire
At the time this article is being written, there
are more than 40 noncontained
fires burning on in Western states.
The best known of the fires is the
huge blaze in Yosemite National
Park. Second in national
prominence is a fire that threatens
the homes of the rich and famous
in Idaho near Sun Valley. The federal government has
identified 11 others in non-Western states. The fires have pushed the federal firefighting budget to close to $1 billion for the year
and the fire season still has another official month to go. To help fight those fires and
avoid running out of firefighting money, the U.S. Forest Service is diverting $600 million
from timber and recreation budgets and a couple of other budget items.
PIA Montana: Nominations for Agent of the Year and Company Person of the Year
Every year PIA Montana gives out two prestigious awards:
Agent of the Year and
Company Person of the Year awards.
Do you know someone deserving of one — or both — of these awards. Nominate them
Around the PIA Western Alliance states
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063