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Federal government shutdown insurance impact
The federal government shutdown has impacts all
over the place. One place it won't impact is flood
insurance. The Federal Emergency Management
Agency managed National Flood
Insurance Program is allowed by law to
continue activities because the NFIP is funded by
sources other than annual appropriations. So
during the shutdown it will maintain daily
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PIA Oregon/Idaho & PIA National Awards
As the PIA Oregon/Idaho does every
year, it honors the best of the
association's best by handing out three
prestigious awards: Agent of the Year,
Company Person of the Year and the
PIA Oregon/Idaho: New Board of Directors
PIA Oregon/Idaho has a new board of directors. Wendy Abel-Hatzel, AAI, CIC, CPIW,
CRM of Coos Bay's Harry Abel Insurance Agency is the association's new president.
She replaces outgoing president Tim Bangert of Cascade Insurance Services in Bend.
Is there coverage for losses stemming from government shutdown or default?
At the time of this writing, the federal government is in a partial shutdown. Essential functions are operating, but certain areas such as national parks are completely closed.
While this partial shutdown does not threaten the validity of federal debt, some fear that a similar impasse regarding the debt ceiling could trigger a partial or full federal default. These events pose varied risks for businesses. A variety of insurance and other risk mitigation products may cover some losses.
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!
Michael Jackson wrongful death case to change tune for entertainment insurance
When Britney Spears takes the stage this December for the first of a heavily hyped 100-show two-year residency at Planet Hollywood in Las Vegas, the loudest cheers may come from her insurance underwriters. Along with the sound engineers and roadies who help stage a concert, insurance underwriters play a large role in making sure a star can get onstage and grab the microphone. Insurers also are key during those times when stars do not show and concerts get canceled.
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Marketing assistance from PIA National
PIA National's leadership has rolled up its sleeves
and moved the ball forward on the next generation
of marketing tools for PIA members. Like those that
have come before now, these tools will be made
available to PIA members through the PIA Branding
The federal government shutdown: The people speak
The federal government is shutdown
over a budget impasse. It's a stalemate
based on the funding of the Patient
Protection and Affordable Care Act aka
Obamacare. Republicans have refused
to fund Obamacare in current budgeting
and Democrats have refused to go along
with the refusal to fund. While Obamacare continues to get negative poll results, the American public does not want a dispute
over its funding used to shutdown the government.
Obamacare launch — a disaster
The launch of Obamacare and the exchanges run
by states and those run by the federal government
is an evolving story. Obviously. What we know at
this point is that week one was close to a complete
disaster. The White House reported that www.healthcare.gov had more than 7 million unique
visitors in a week. What they were unable to confirm is
how many people actually enrolled.
PIA National: The flood 'talk' with clients
When agency staff is speaking with insurance
prospects and current customers, it is wise to
remind them — even those that do not live near
the water — that property insurance policies do
not cover damage from flooding events. It's important to let your
customers know that flood insurance is available through the federal government's
National Flood Insurance Program insurance..
The polls: Obamacare — a mixed grade
Coupa Software is a cloud-based finance
application designer. The company
recently did its annual survey on health
care. The 2013 Health Care Survey
checked in with 200 top health care
professionals. The focus was the
Affordable Care Act.
The survey gave Obamacare a mixed
Homeowners reform: Obamacare as a model. Really?
Benjamin Lawsky, superintendent of the New York
Department of Financial Services, wants the
nationwide standardization of homeowners
insurance. Lawsky contends consumers are
"confused" about what policies cover.
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Rep. Waters — of Biggert-Waters: Delay the flood increases
Rep. Maxine Waters, D-Calif., thinks the Biggert-
Waters flood insurance reforming act's flood insurance rate
increases ought to be delayed a year. Her act's co-author
former Rep. Judy Biggert, R.-Ill., feels
the same way. Waters said she is "outraged" by the increased costs of flood
insurance premiums that have resulted from the Biggert-Waters
Insurance finances: 1st 6 months of 2013 — not bad
The report is from the ISO and Property
Casualty Insurers Association of
America's. The two groups issue
one quarterly that lays out how insurance
is doing from top to bottom; from
expenses to profits.
The first half of 2013 gets a good grade.
Missed last week's issue? See which articles your colleagues read most.
Obamacare federal exchange — made in Canada
One item that has come to light since the launch of the
exchanges is who developed www.healthcare.gov.
That's the federal site that handles the insurance
purchases for individuals and small businesses in the 36
states that refused to operate their own exchange. CGI Federal — a subsidy of a Canadian company — did
the design and implementation of the the federal exchange system. The firm is
ultimately responsible for the glitches since it runs the system.
Millennials: The word-of-mouth generation
Insurance Networking News
We hear it often: Insurers need to get with the times technologically to connect with the younger generations. If they do — if they make the investments in innovation and technology — will it make a difference?
That balance is tricky.
How much are you leaving on the table? Improving your business' after-tax financial efficiency
By David B. Mandell, JD, MBA, and Carole Foos, CPA
Most insurance companies strive to achieve two goals in their business — to "do good," by providing a quality product to customers or clients; and to "do well" in terms of financial rewards. Unfortunately, as to the second goal, many insurance companies do not operate their businesses with optimal after-tax efficiency. In fact, we often see businesses of all types leaving tens of thousands of dollars "on the table" each year — which can equate to nearly $1 million of lost wealth over a career for an executive or owner. The good news is that many of you reading this can likely improve your post-tax bottom line in a number of ways and this article provides insurance companies a number of ideas to make such improvements in 2013.
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