|This message contains images. If you don't see images, click here to view.|
here to advertise in this news brief.
A global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited, the ACE Group conducts its business on a worldwide basis with a physical presence in 53 countries.
Update: Oklahoma insurance payout
The Oklahoma Department of Insurance said to date 70,000 claims
have been filed from the tornadoes that hit the state in May. That's up
5,000 from the June 19 figure. Oklahoma Insurance Commissioner
John Doak said payout so far by insurers has hit $687.9 million.
| Share this article:
Around the PIA Western Alliance States
California — 2012 Data Breaches:
California Attorney General Kamala Harris
said in 2012, California had data breaches
that compromised the personal information
of 2.5 million people.
Retail is where most of the 131 breaches took place in 2012. Financial providers and —
take note — insurance were two and three.
AIG reported to be lead insurer for Asiana crash in San Francisco
International Group Inc. was the lead insurer providing coverage for the Asiana Airlines Inc. jet that recently crashed while landing in San Francisco, according to two people familiar with the matter.
COST manages and operates insurance premium finance companies for clients nationwide. The COST Program™ enables you to focus on your core business - running your insurance agency or company - while increasing profits, improving customer service, controlling the finance process, enhancing market value, creating a profit center for your business, and adding to your bottom line with no extra staff or fixed expense - If you aren't earning $30,000 to $40,000 per $1mm financed contact COST today.
Insurance pitch to young adults started in Fenway Park
The Major League Baseball season is now half over, and some fans are already starting to think about the World Series in October.
October is also a big month for the Obama administration.
That's when millions of Americans can start signing up for new health insurance policies through health exchanges established in each state under the Affordable Care Act.
Polls show most Americans still don't understand how they're supposed to do it. The White House and its state partners are eager to let them know. They're trying to recruit baseball teams and other sports franchises to help.
Reinsurance rates continue to soften
Insurance Networking News
Pricing in the capital markets has broken away from levels set by the traditional market, pushed by catastrophe bond, sidecar and collateralized reinsurance activity, according to Guy Carpenter renewals report.
| Industry News from PIA Western Alliance|
PIA National and value of agents in ObamaCare
When it comes to ObamaCare and agents
participating in the health insurance exchanges, it is
up to the individual states whether agents will be able
to sell health insurance in the exchanges.
Special report — ObamaCare employer mandate delayed
You've likely already heard the news. The
Obama administration is delaying the
Patient Protection and Affordable Care
Act's employer mandate until 2015. For
some, ObamaCare is complex and
confusing, so you may not be familiar with
United Healthcare pulls out of California
United Healthcare has decided to leave the California individual market. It is the second
major insurer to pull out of the Golden State. Aetna pulled out earlier. Though neither
insurer has a lot of customers, California Insurance Commissioner Dave Jones is
concerned about the negative impact of the decision.
Insurance and risk to the nation's financial system
Insurers — at least most of them — contend they and their
financial dealings do not put the nation's financial system at
risk. The Dodd-Frank Act created the Financial Stability
Oversight Council to determine which banks and
businesses are a risk to the nation's financial system. All
banks get that designation. Two insurers — Prudential and
AIG — have been named systemically risky and will be subject
to special regulations in the future
| Looking for similar articles? Search here, keyword CONTRACTORS.|
June's rates jump
To no one's surprise, commercial
property casualty and personal
lines insurance rates rose in
June just like they have for the
last several months.
MarketScout's monthly rate
report said on average rates in
June jumped 5 percent for P&C lines
and personal lines saw a 4 percent
||MOST POPULAR ARTICLE
Do you need supplemental health-care insurance?
Health insurance doesn't cover all medical events and costs, which is why supplemental coverage could make financial sense for some consumers. Just like flood or life insurance gives you an extra peace of mind, supplemental health insurance will ensure you are covered if the unexpected happens.
Car insurance: Hidden discounts revealed
Car insurance companies are aggressive in boasting about their discounted rates, but which ones offer the most? Bankrate.com put together a list of 17 discounts that car companies offer.
Small insurers and online, direct sales
While online commercial sales haven't caught on yet with larger insurers, Novarica says the idea is resonating with smaller insurers. In a report titled, "Direct Online Small Commercial Insurance: Preparing for the Inevitable," Novarica said to look for this to be reality in the next five
Special report — wildfires
The 19 elite firefighters who died
in a fire in Arizona a few days ago
has brought wildfire fighting back
into the eye of the public. Since
2000, Wildfires have burned
about 7 million acres a year.
That's up from 3.3 million in the
1990s says the National
Interagency Fire Center.
It’s a significant increase.
ObamaCare and the NFL
The Obama administration said the National Football
League and its star players were going to help
promote ObamaCare to the public and help educate
people as to how it all works. A couple of weeks ago,
Health and Human Services Secretary Kathleen
Sebelius assured media that the NFL saw the value
of ObamaCare and that it is a good thing for the
country and its people.
Groups want farm bill reconsidered
The Republican dominated House has
rejected the $500 billion and five-year farm bill.
It passed the Senate. Hundreds of farm and
agribusiness groups are pushing House
Speaker John Boehner to make another
attempt to pass the bill.
Missed last week's issue? See which articles your colleagues read most.
Flood rate rise and Congress
Under the Biggert-Waters Flood Insurance Reform Act the rates
of the National Flood Insurance Program were modified
and increases to an actuarially sound rate are happening. The
idea behind the increases is to make sure the rates charged by
the NFIP for flood insurance actually reflect the risk.
In the past they have not.
Insurance producers can be a significant E&O exposure
by Curtis M. Pearsall, CPCU, AIAF, CPIA, President — Pearsall Associates Inc. and Special Consultant to the Utica National E&O Program
Virtually every year, producers rank first as the most prominent
agency staff member who is the alleged "wrongdoer" in an errors-
and-omissions claim. Upwards of half of E&O claims are the result of supposed errors
or omissions made by producers. When considering the other levels within an agency —
customer service, claims, reception, accounting, etc. — it's really not a surprise that
producers have this inglorious distinction. After all, they are the face of the agency for
most new business opportunities and for a significant number of renewals, especially
Gay marriage ruling and insurance
Some insurance benefits that
were available only to man-
woman married couples are now
open to same-sex couples as a
result of the recent U.S.
Supreme Court decision to strike
down the Defense of Marriage
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063