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The industry: Premiums increasing, loss reserves stable
It's almost halfway through 2014 and
Munich Reinsurance — or Munich Re as
it is better known — has issued its
Insurance Market Outlook 2014. It
finds the economy is recovering in most
countries and insurance premium
volume is growing as a result.
The report says we should expect a premium volume increase of 2.8 percent for this year and
3.2 percent in 2015.
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PIA Oregon EXPO: Not to be missed!
When: June 17-18
Where: Red Lion Hotel on the River
Jantzen Beach, Portland, Oregon
EXPO is a one day, business-to-business and education program for all agents, agency
and company personnel. Last year's EXPO was a huge success. More than 150 independent
insurance agents registered.
Click "Read More" for more information and to get started.
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
| Industry News from PIA Western Alliance|
Cybersecurity: Another attack, concern growing
eBay is the latest major corporation to have its
customer data base hacked. Experts are calling
it a massive hacking, but — at least at the time
we write this — eBay isn't talking much about
the attack. Spokeswoman Amanda Miller said
eBay is working with authorities around the nation and the world.
PIAW wants to know what you think about cybersecurity. Take a short poll.
Cover Oregon update: FBI issues subpoenas
The FBI is investigating the failure of Cover Oregon.
It's not a surprise. Everyone knew the FBI was
knocking on doors. That knocking just got louder and
the investigation has ratcheted up a notch. Broad subpoenas have been issued by the bureau via
the U.S. Attorney's office and a grand jury request.
A quick revisit: Obamacare navigator rules changed
On May 16, the Centers for Medicare and Medicaid
Services significantly lowered the standards for
health insurance navigators. PIA National opposes the
The national association says the new standards put
consumers at risk.
TRIA renewal: Game on
The effort to extend the authorization of the Terrorism
Risk Insurance Act is in the works in the Senate
and in the House. Bills have been introduced and both
are as different as the different houses that are
Rolling back Dodd-Frank's federal oversight of insurance
Congress is looking at bills to change how
insurance company finances are interpreted in
the Dodd-Frank Act. There are three bills
currently in the House that will change how
insurers are viewed. Bills one and two are H.R.
605 and H.R. 4557. The first is the Insurance
Consumer Protection and Solvency Act of 2013
and the second is the Policy Protection Act of
2014. They limit the Federal Deposit Insurance Corporation's ability to assess
insurance companies to pay for failing banks or thrifts.
The uninsured of Obamacare
The official sign-up time for the Affordable Care Act
has — wink, wink — finally passed. According to a
survey done by Enroll America a high percentage of
those remaining uninsured after the deadline did so
because they cannot afford insurance. Most of those were not aware that financial assistance is available to help them "afford"
Milliman: The high cost of health care lower in 2014
It cost you more for health insurance for you
and your family in 2014. But the increase isn't
as much you paid in previous years.
The actuarial firm Milliman tracks these things
and the 2014 Milliman Medical Index
has been released. It measures what a typical American family of four pays for
employer-sponsored health insurance.
Missed last week's issue? See which articles your colleagues read most.
Mobile apps for insurance purposes? Not so fast
Mobile apps have become an important tool for many
businesses. Combined with an active, updated website,
the mobile app is a must for modern success.
At least for most businesses. Apparently not insurance.
Wildfires: Another summer crisis brewing
This is an ongoing story and by the time
you read this, things may have changed
one way or the other. At the time this is written, Alaska is battling
a dangerous wildfire. It's expanded to an
area of 140,000 acres. That's huge.
Maybe bigger than huge. Some say it
covers an area bigger than the size of Seattle, Washington.
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Update: Washington's Oso landslide
To date, 41 people are dead and two are still listed as
missing from Washington State's devastating
landslide in Oso on March 22. In the aftermath, a
few members of the state's congressional delegation
have pushed for more money for landslide research.
The passing of longtime PIA supporter Richard N Schafer
After a most remarkable life, PIA Montana member
Richard N. Schafer died at age 81. Schafer's son, Kelly R.
Schafer, said his dad passed away on Dec. 6. The PIA Western Alliance and Weekly Industry
News didn't learn about Schafer's passing until recently.
Competitive advantage through analytics
Insurance Networking News
Insurers have many opportunities to leverage advanced analytics across the enterprise, including underwriting, claims and marketing. But without a solid foundation, analytics can overwhelm companies that have yet to get the most out of structured enterprise data.
Around the PIA Western Alliance States
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, Editor/Writer for PIA Western Alliance, 503.724.9028
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