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New stats on ACA, the uninsured: 2 PIA Western Alliance States among most improved
The purpose of the Affordable Care Act is to
insure the uninsured and to get health care to
those who cannot afford it. Whether ObamaCare is successful or not is still being
debated and arguments from both sides seem to carry weight. !
So it’s going to be awhile before we REALLY know whether this grand experiment
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Around the PIA Western Alliance States
PIA National joins business coalition: Congress — pass TRIA extension now
PIA has joined a broad-business coalition demanding that
Congress pass Terrorism Risk Insurance Act now. The group is led by the U.S.
Chamber of Commerce. A letter has been sent to key
members in the U.S. House of Representatives urging a fast
passage of the extension of the TRIA.
Competitive Rates from exclusive carriers. Contact All Risks, Ltd., the nation’s largest
independent wholesale insurance provider.
- 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.
PIA and The Hartford: A 10- year anniversary
PIA National and The Hartford are celebrating the 10th
anniversary of the creation of a PIA-endorsed flood
insurance program. The exclusive program was initially
rolled out to PIA members on Sept. 14, 2004. Through the partnership, PIA members have access to one
of the most robust and steadfast Write Your Own
carriers in the National Flood Insurance Program.
The Hartford has been writing flood insurance through the
NFIP for nearly 25 years.
PIA says goodbye to a good friend: Harold Anderson
PIA friend Harold Anderson recently passed away in Bend, Oregon, from complications
following open-heart surgery. He was 83.
Anderson will be missed.
The following comes from the family's obituary.
| Industry News from PIA Western Alliance|
The federal and insurance SIFI risk designations
Insurer MetLife was just given a
significant designation from the Financial
Stability Oversight Council. The designation
is part of the regulatory reform of the Dodd-Frank
Act. That means according to the FSOC its financial
failure could mean serious damage to the nation's
economy. So when MetLife ends up as a full-fledged
SIFI, it will then be supervised by the Federal Reserve Board and will be subject to some
difficult financial regulations.
Cyberrisk: Insurers ought to worry, too
Recently, Home Depot admitted that hackers
have compromised its database and as many as
60 million of its customers have now been
compromised. Before that, it was eBay and Target,
and the list continues to grow.
These days almost every day some major corporation admits to having been hacked.
Home Depot's cyberattack insurance — probably not enough
Home Depot got hit with a cyberbreach and recently admitted
as much. More than 60 million customers had
credit and debit card information compromised in 2,200
U.S. and Canadian stores.
The firm is insured, but will it be enough?
Just not right: MetLife's systemic risk decision
The insurance industry is not happy with the
designation of MetLife as a systemically
important financial institution — SIFI — by the
Financial Stability Oversight Council. MetLife is the third insurer to get such a designation. AIG was
first, followed by Prudential. Other insurers are now worried that the secretive
FSOC will tab them.
H&R Block and Obamacare tax forms
We all think taxes are too complicated and dread our
annual April abuse. Now, Obamacare is in the mix for
some of us. That means the Affordable Care
Act is going to unsimplify those going the simple
Obesity and workers' compensation
The National Heart Forum predicts that by 2030, 51 percent of us will be obese.
Pardon the play on words, but at that percentage, the
problem of being huge becomes huge.
That same forum also predicts that medical expenses
related to obesity could hit $344 billion per year by 2018. That figure makes up 21 percent of
current health care spending in the United States.
Missed last week's issue? See which articles your colleagues read most.
Morgan Stanley study: Insurer customer service needs improvement
Morgan Stanley and Boston Consulting Group did a study of insurer customer service and
compared it to that of other industries. The study is titled Insurance and Technology: Evolution and Revolution in a Digital
could stand some improving.
Cover Oregon update: No special session to determine Cover Oregon fate
Calls for a special session of the Oregon
Legislature to shut down the failed Obamacare
exchange Cover Oregon is not putting a dent in the
resistance of Gov. John Kitzhaber and key Democrat leaders.
Commercial insurance prices slow in 2Q
The second quarter wasn't bad for P&C insurers in
terms of rates. Prices continued to rise. They just didn't rise
as much as they have in the last couple of years. Or so
says Towers Watson's quarterly CLIPS survey.
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Not your father's insurance company
Insurance Networking News
It's been said many times before that the only constant is change. There are new companies and business models continuously challenging the status quo. These businesses created a market and quickly delivered capabilities people didn't know they needed or valued. As we see the digitization, democratization and adoption of new products and services, we need to think about how our industry needs to evolve to keep up.
Sept. 11: 13 years and TRIA renewal
It has been 13 years since that awful day.
On Sept. 11, 2001, terrorists from al-Qaida took
control of four planes and crashed two of them into
the World Trade Center in New York City, one of them
into the Pentagon and another crashed in Pennsylvania before it could complete its
mission. When the destruction was done, close to 3,000 people were dead.
California wildfire destroys logging town
On Sept. 15, a wildfire tore through the Northern California town of Weed and destroyed
or did major damage to more than 100 buildings. The town has a population of 3,000
and 1,500 were evacuated to the local fairgrounds as the blaze worked its way through
How you can personally avoid a data breach
A recent article published by USA Today
offers some important tips on how you can avoid
becoming a victim of a data breach, like the one recently revealed by Home Depot and such as the
one experienced by customers of Target, eBay
and the major banks, who now say they've been
hacked and others.
Napa earthquake update
President Barack Obama has declared the Napa, California, area a disaster and now federal funds will be available to help with
recovery from the 6.0 scale earthquake.
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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