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Napa earthquake 1: Comparisons
Insurance Information Institute President and
economist Dr. Robert Hartwig dug into some
earthquake facts after the recent 6.0 Napa earthquake. Hartwig said though this is a big
and expensive quake, it still is too soon to determine
just where this one sits in the damage and intensity
record books. "The January 1994 Northridge, California, quake
registered a 6.7 magnitude on the Richter scale, and
caused $24 billion in insured losses, in 2013 dollars," Hartwig said.
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Around the PIA Western Alliance States
PIA Montana Producer Seminar: Early registration special ends soon
Early registration special ends Sept. 12 for the annual PIA
Montana Producer Seminar.
Register and pay for a full package — additional agency staff packages included
— by Sept. 12 and receive a free ticket to the Bobcat's
annual football game against Weber State.
Click here to register.
Annual PIA Montana Producer Seminar
The Holiday Inn, Bozeman, Montana
You won't want to miss this comprehensive program designed for independent
insurance agents, producers, CSR's, agency management staff and agency owners.
Competitive Rates from exclusive carriers. Contact All Risks, Ltd., the nation’s largest
independent wholesale insurance provider.
- 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
- Building Operations (WC) -Direct WC carrier access with low minimum premiums for building operations by owners and contractors.
- 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.
Get ready: Get registered PIA Washington & IIABW Annual Washington Joint Conference
This year's PIA Washington/
Alaska and the Independent Insurance Agents & Brokers of Washington
joint conference is:
The joint conference features an exceptional trade show as insurance company
representatives, wholesalers and others share the latest in products and services.
Register early online.
| Industry News from PIA Western Alliance|
Napa earthquake 2: Preliminary damage estimates
The Aug. 24 earthquake that hit California's
Napa Valley will lead to economic losses of as
much as $4 billion. The costs are fueled by
damaged wineries and shuttered businesses
that rely on tourists.
Time running out for TRIA extension
The August congressional recess is almost over. Soon gavels will clunk down in the
House and Senate and Congress will get down to business. Or so some say. Others —
as we all know — don't think the nation's legislative body does much of anything.
Controversy erupts over closed international insurance reg meetings
A major controversy has erupted over a proposal by
the International Association of Insurance Supervisors
— an organization of insurance supervisors and
regulators from around the world — to close its
meetings to outside observers. The group plans to
keep its deliberations private and only invite select
parties to the closed meetings when it wants input.
Earthquake insurance: Needs its own shake-up
Despite increased risk, the number of homeowners
with earthquake insurance nationwide sits at just 7 percent.
That figure comes from the Insurance Information
Work comp: New stats show growing economy
The National Academy of Social Insurance tracks
workers' compensation. It looked at the most recently
released work comp figures — 2012 — and found
benefits rising by 1.3 percent to $61.9 billion.
Systemic Risk Council: Another look at MetLife
The Financial Stability Oversight Council is
getting closer to deciding if MetLife is so big its
failure would destabilize the global economy. Soon, the FSOC will take another look
at the insurance giant.
Missed last week's issue? See which articles your colleagues read most.
Allstate's annual Best Drivers Report
The 10th annual Allstate America's Best
Drivers Report is out. It measures driver
safety in U.S. cities based on population
density, precipitation and a few criteria.
Greenberg AIG suit against US government goes forward
The United States government has been pushing to get a
lawsuit filed by former AIG CEO and founder Maurice "Hank"
Greenberg dismissed. Greenberg leads a group of AIG
stockholders and Greenberg's Starr International who want
$25 billion from Uncle Sam. He says the government illegally
bailed out the company in the financial crisis of 2008.
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A perspective: Employees and employers
Most employers go by the philosophy that they ought
not get involved in the personal lives of employees.
The e-commerce website Purchasing Power did a
study that says employers ought to take a second
look at that policy.
Fatal prognosis: Benmosche leaves AIG early
Robert Benmosche recently left AIG. The 70-year-old Benmosche has
led the company for the last five years and
is credited for the firm's salvation and for
paying back the $182.3 billion in bailout
dollars given to it by the federal
government. He was schedule to leave in 2015 but moved the departure up because his cancer has
returned with a vengeance.
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