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Polls on the shutdown: Give us a new Congress
By the time you read this our
hope is that Congress and the
administration have come to
some sort of deal to avoid U.S.
government default, have settled the shutdown and restarted the federal government. There is a deal in the works and it looks like it will be acceptable
to all involved, but you never know about these things. The polls say the people want
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PIA National responds: Another state regulation war salvo
For the past decade, Rep. Ed Royce, R-Calif.,
has been one of Congress' most outspoken supporters of
federal insurance regulation. Fairly recently, Royce
fired the first salvo in what may be a renewed war on state
regulation of insurance. This attack was a broadside against the National
Association of Insurance Commissioners. Royce
said he intends to request a hearing to investigate the
NAIC and its role in the insurance marketplace. The
Congressman said the NAIC has gone far beyond what it has
the legal authority to do.
Don't miss it: Washington PIA / IIABW Conference
The 2013 Washington Joint Conference and Tradeshow is about to begin. This is the
third annual conference collaboration with the Independent Insurance Agents & Brokers
of Washington and will be held
Oct. 20-22 at the Seattle Sheraton. Click "read more" for more information and links to the website to register.
PIA Montana Producer Seminar a huge success
Another successful PIA Montana Producer
Seminar was held in Bozeman Oct.
3-4. With record attendance,
outstanding continuing education, the
awarding of important PIA Montana awards,
plenty if networking with exhibitors and
sponsors and the best Texas Hold 'em
tourney in Montana, fun was had by all. PIA Montana also gave its two most
prestigious awards, Agent of the Year and
Company Person of the Year.
A new Deductible Reimbursement Insurance is now available to all residents of the Western Region (except Alaska). Licensed insurance agents may now sign up on the ZeroDeductible website and offer deductible reimbursement insurance to their clients directly for their auto, home and boat policies.
Click here to learn more!
5 ways to improve your LinkedIn profile
By Mark Kats
When it comes to social media best practices, there are multiple platforms — and countless strategies and tactics — to consider. But before we get into the more advanced tips and tricks, let's make sure we have a few important basics covered. Here are the five things you should check out and potentially update on your LinkedIn profile.
| Industry News from PIA Western Alliance|
Impact: Insurance and the federal government shutdown
It appears a deal is in the works and one
that is acceptable to all involved, so the
federal government shutdown should be
over by now.
Or it might not.
The story is evolving and no settlement has been reached. Settled or
not, the shutdown and government financial policies have had an overall impact on
insurance. Other industries are impacted, too, and for the same reasons.
Some more than others. Insurance is stuck somewhere in the middle.
Obamacare's 1st week numbers: Not so hot
The Obama administration recently — the second week
of the almost full
implementation of the Patient
Protection and Affordable Care
Act also known as the ACA or
Obamacare — released the
first week's sign-up numbers. They were a pitiful 51,000 in the 36 exchanges operated by the federal government.
Those numbers come from an online news source called MailOnline who claims it got
them from a Department of Health and Human Services source.
Update: TRIA — extension not looking good
At this point it doesn't appear there is much interest
by Congress or the Obama administration to extend
and reauthorize the Terrorism Risk Insurance
Program Reauthorization Act. A huge push is being made by the industry for
renewal, but renewal is more than a year away and
considering this Congress, any decisions will be last
ACE: Insurance needs more diversity
ACE asked a group of insurance and
risk management professionals about
the future of insurance. The questions
were asked at the 2013 FERMA Forum
and 99 percent of those polled said diversity
is No. 1 when it comes to
insurance's future success. A large number — 87 percent — think
diversity has improved in the last five years.
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Obamacare repeal? By the numbers.
The polls — by all major media and polling
sources — say the people of the U.S. do not
like the Patient Protection and Affordable Care
Act and really don't want it. At the same time,
however, the public likes parts of the act also known as Obamacare and half of us do
not want to see it repealed. The other half does. Or so says a new poll from Bankrate.com.
Insurance rates: Positive and negative
Commercial and personal lines insurance rates continue to rise.
MarketScout's September report said commercial rates rose 5 percent on
average and the personal lines average is 4 percent.
MarketScout CEO Richard Kerr said the August commercial rate
increase average is 4 percent so commercial insurance gained a point.
Smaller accounts rose highest and larger accounts not as high.
Here's a September summary.
2012 insurance conduct complaints
Every year for the last nine, Wolters
Kluwer Financial Services has released its
analysis of consumer complaints against
insurance. The data comes from state
insurance regulators. Wolters Kluwer's
Kathy Donovan said — to be fair — one
problem faced by insurers is constantly changing regulations.
Flood: House caucus looks at Biggert-Waters
The Biggert-Waters Flood Insurance Reform Act went into
effect on Oct. 1. It was not a happy event for those with
flood insurance in high-risk areas and an even unhappier
event for members of the House and Senate who are under
political siege over the drastic increases.
AIG: Legal woes continue
AIG is out from under federal government
control and is back on its way to financial
recovery. The company is healthier than it has
been in years.
However, AIG's legal woes continue.
Homeowners disparity and disaster
Homeowners insurance and claims, and
the impact of disasters on homeowners
rates, are all hot topics in insurance circles.
InsuranceQuotes.com did a study of the
increases found in homeowners policies
after the filing of one claim.
Five states show huge increases.
Missed last week's issue? See which articles your colleagues read most.
Wildfire: Risk increasing
Wildfire is becoming a huge concern for local
and state governments and the federal
government. In the West, the worry ratio is
even higher than other parts of the nation.
Basically, the West has been on fire for the
last five-years or more. Damages from fire are a huge cost to
individuals and businesses. Insurance rates
are one of the reasons and insurers lose huge amounts of money each year from fire.
Unfortunately, the danger from fire will not abate. It will — if anything — continue to
More than a year and counting: Where are the FIO Reports?
Rep. Randy Neugebauer, R-Texas, is the chairman of
the House Financial Services Subcommittee on Housing and
Insurance. He wants to know why Federal Insurance Office
director Michael McRaith is more than a year late submitting
several critical insurance reports required by the Dodd-Frank Act.
And he isn't approaching the topic nicely.
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