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PIA National opposes Obama administration relaxation of navigator rules
Final rules for Obamacare health insurance
exchange navigators were issued May 16 by the
Department of Health and Human Services.
The new regulations significantly lower standards
for the navigators.
PIA National says that puts consumers at risk. The new regulations will permit unlicensed navigators to perform some of the functions
of licensed insurance agents and brokers. In addition to relaxing the regulations, the
administration is also prohibiting the states from requiring navigators to obtain an agent
or broker license or errors and omissions insurance.
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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.
PIA National: More on Wal-Mart's auto insurance
PIA National's response to Wal-Mart's
auto insurance venture is getting media
notice. Consumer Affairs — a popular
consumer publication — did a story and
quoted PIA's skepticism over claims by
Wal-Mart that someone purchasing
insurance via their service could save as
much as $1,168 per year.
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|
ACORD LOMA grading insurers on trends — part 2
Weekly Industry News recently did part one of a story on
Kimberly Harris-Ferrante of Gartner Research. She made a
presentation at the ACORD LOMA 2014 a couple of weeks
ago. Harris-Ferrante graded insurers and insurance on eight
Agent compensation, health insurance exchanges
From an agent and broker point of view, the
Obamacare health insurance exchanges have a
mixed record. Some are being well-paid for work
done to get people and businesses health
insurance and some are not.
Online auto insurance: It may have peaked
PIA National reports the TransUnion Auto Insurance
Shopping Index shows shopping over the Internet for
auto insurance is down for the second year in a row.
TransUnion auto tracks consumer behavior when
compared to credit history. It said online shopping rates
dropped 3 percent from February 2013 to February 2014.
Obamacare cost: Agents lose $300 million commissions in 2012
The Patient Protection and Affordable Care Act — aka
Obamacare — reset how agents and brokers are to be
compensated by health insurance companies. The law
changed the medical loss ratio and said insurers in the
individual market have to spend 80 percent of all premium dollars
on health care and those in group markets must spend 85 percent.
All through the negotiations that set up Obamacare insurance groups and agent
associations — like PIA — urged Congress to exempt agent and broker commissions
from the MLR ratio.
Help wanted: Employers, exchanges
A lot of people are confused about just how to go about
using a health insurance exchange. They're mandated
by the Affordable Care Act and in most states the
exchanges is managed by the Obama administration.
Decision time: Obamacare health insurance rates
The time for insurers to set rates for
November's health insurance sign-ups is over.
It passed us on May 1. So the Obama
administration — via the Centers for
Medicare and Medicaid Services — has
extended the deadline to May 31.
Actuaries that have to set rates say that's not enough time either.
GAO report: Reforms not helping — NFIP in deep trouble
The Government Accountability Office says the National Flood Insurance
Program is in deep trouble and will
likely stay in deep trouble for years to come.
Missed last week's issue? See which articles your colleagues read most.
FEMA says it's OK to assume a prior flood policy
The Federal Emergency Management Agency is
starting the Biggert-Waters Act reforms. It has repealed a
National Flood Insurance Program provision
preventing those buying homes and businesses from
assuming a property's prior flood insurance policy.
The high cost of wildfire
Wildfires are a big deal these days. For the last
couple of years it seems every state in the west has
been on fire. And in some cases — like California —
that is true. It was on fire almost year round.
Reports say last year was a record fire season everywhere.
Cover Oregon's federal transition more expensive than thought
After Cover Oregon failed, and after the state
decided to move the exchange to the federal
system, the Cover Oregon board of directors
gave an original estimate of $5 million to connect
with the federal government's HealthCare.gov. But there's more that needs to be done and it will be more expensive than $5 million.
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Should an insurer try to be more like Google?
Insurance Networking News
There's no shortage of admiration and emulation going on for the business models of the big Web companies. Go all-digital, automate decision-making with big data, engage mass markets online, support mobile and keep on innovating. Google and Facebook are held up as models of success, the corporation of the future.
ACORD LOMA: Grading insurers on trends
The world is changing. Rapidly. Like most
industries, insurance is trying to keep up. And like
most other industries, it's not keeping up very well
and is only doing an average job. Or so says Kimberly Harris-Ferrante of Gartner
Research who came to that conclusion at a presentation she made at the ACORD
Quarter 1: Merger & acquisition activity setting records
Agent-broker advisors OPTIS Partners did
an analysis of merger and acquisition
transactions for the first quarter of 2014.
M&A activity in the quarter may have set a
There were 110 of them.
Agents, brokers: A good 1st quarter
Regan Consulting tracks these things and says
independent insurance agents and brokers had their
highest ever organic growth profitability in the first quarter
of 2014. Those results come from a study titled the
Organic Growth and Profitability Survey.
Update: San Diego's wildfires
This — of course — is an ongoing story. And as it goes
with wildfire, things change in an instant. All indications
when this was written late May 19 is that
firefighters in and around San Diego, have most
of the fires pretty much under control.
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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