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Update: PG&E Fire Victims Worry & Inverse Condemnation

Posted By Administration, Tuesday, December 3, 2019

California’s wildfire victim total continues to rise.

To date over 70,000 Californians have filed claims against Pacific Gas and Electric (PG&E). Recent fires will add to that total and some attorneys think as many as 100,000 people may be eligible to get payments from PG&E for damages they have suffered because of fires caused by the company’s equipment.

Many — especially those with inadequate, or no insurance — will have to wait until PG&E comes out of its bankruptcy before they can get a payout. So surviving — for some — has become an impossible task.

Bankruptcy attorney Hugh Ray of the law firm McKool Smith says adding to the worries of survivors is the growing number of people in California that will need a piece of PG&E’s rapidly shrinking pie. “The more victims there are, the smaller the slices of the pie. That’s just the way it’s going to be,” he said.

PG&E’s bankruptcy plan says it will give $8.4 billion to wildfire victims. Under the plan another $11 billion will go insurers. That totals $19.4 billion. The bondholders are much more stingy and would give wildfire victims $13.5 billion under their plan.

Ray said the competing plans make it uncertain as to the amount of money that will eventually be available for victims. That uncertainty is compounded by the growing numbers.

“They’re not going to get anything like a complete recovery,” Ray said. “It won’t be anything like enough to solve all the problems. At this point I don’t see the money.”

Meanwhile, U.S. Bankruptcy Judge Dennis Montali has said no to the latest push by Pacific Gas & Electric to change California’s inverse condemnation law. That law means PG&E is responsible for losses from fires caused by malfunctioning equipment.

In case you’re not familiar, inverse condemnation means the company is responsible even if it did a good job of maintaining the equipment and it causes a fire — or fires — anyway.

Montali said PG&E can recoup those losses by raising rates. California law allows that.

Part of the problem PG&E faces — critics say — is that poor maintenance or out-and-out negligence to its power grid led to these fires. Those fires killed people and destroyed property. Rates cannot be raised high enough to compensate so PG&E and other utilities have to go to the investors to survive.

Investors are demanding higher interest rates for the money borrowed.

A double-whammy comes because PG&E — and other utilities — cannot afford to borrow. They have to — then — continue to ignore their infrastructure. PG&E says that means it cannot maintain the system and that puts over 5-million people in danger. They law — it says — needs changed.

“PG&E continues to believe that imposing strict liability without regard to fault under inverse condemnation is a flawed legal doctrine and bad for our customers, our economy and our state,” the company said in a statement about the judge’s ruling.


Source links: Associated Press, The Press Democrat

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’Tis the Season — Porch Pirates & Other Hazards

Posted By Administration, Tuesday, December 3, 2019

A bunch of websites do surveys about holiday hazards. They range from injuries related to hanging lights to auto accidents to injuries from fires caused from cooking and candles to the hazard of criminals grabbing packages off porches.

Starting with porch pirates, research from Shopify says consumers are going to spend $123.4 billion in online shopping. That’s a rise of $91.2 billion over the last two years.

Many of those purchases are shipped to porches and front doors and they’re often delivered when people aren’t home. Monica Eaton-Cardone of the risk-mitigation company Chargebacks911 said thieves are aware of this and are increasingly cruising neighborhoods and following delivery trucks and fans.

“Unfortunately, porch theft is a difficult problem to address,” she said. “While there are organized groups who engage in this practice, it is most often a crime of convenience; the thief sees a package sitting unattended, and simply grabs it. Delivery confirmation can help by serving as evidence for a transactions dispute, but it doesn’t prevent the root of the issue: the theft.”

There are solutions. Delivery companies are pushing the use of lock boxes that allow access to keys so the delivery can be placed in the home. Amazon and other companies are doing that more and more. Most people don’t do like the idea of allowing delivery people into their homes and won’t.

Trust is the issue there.

Other companies have put boxes on porches to make deliveries into but they are few and far between. It seems to be a solution that consumers are more willing to accept. That said, the problem of porch piracy is growing:

  26.1 million — or 8% — had a package stolen from their porch or doorstep in 2018

  That's up from 25.9 million in 2017 and 23.5 million in 2015

There are other hazards to homes in addition to porch piracy:

  19.6 million — or 6% — have seen their holiday decorations stolen or vandalized

Here are other hazards noted by the website InsuranceQuotes:

  45.7 million have been in a winter-weather auto accident

  107.8 million of us have slipped on ice

  9.8 million — or 3% — have suffered injury in a holiday-related work like falling off a ladder when hanging lights

  26.1 million — or 8% — have experienced a holiday-related house fire

  Fires caused by kitchen cooking — 9.8 million

  Fires caused by candles — 6.5 million

  Fires caused by Christmas lights — 3.3 million


Source link: PropertyCasualty360.com

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Special Report: Insurance Shopping Auto Style

Posted By Administration, Tuesday, December 3, 2019

Insurance Shopology is what NexisLexis Risk Solutions calls the product. Actually, it’s not a product. Insurance Shopology is a survey of the what and why behind consumer auto insurance shopping.

While the focus is auto insurance, some of the things learned about auto insurance shopping may also apply to other lines of insurance. It applies to insurers and to agents alike.

The survey begins by acknowledging how competitive the auto insurance market has become and it explains why.

“The U.S. auto insurance marketplace has become highly competitive, with steady annual revenue growth each year from new consumers entering the market. At the same time, consumers are shopping for auto insurance more than ever before, in large part because carriers have made it easy for them to do so,” the survey introduction states. “The end result? In an insurance marketplace plagued with retention woes, it is tough for carriers to attract and retain the best customers. The leading question is: how can you step ahead of the competition in this tight and challenging market?”

And with that the analysis starts with some insights and it states that the shopping habits for auto insurance is driven not only by demographics but it is driven by behavior as well.

  Consumers consider themselves to be loyal but that doesn't necessarily apply when it comes to choosing an insurance carrier

  Price is the top reason that consumers shop

  Life events also drive shopping behavior

  Addressing incremental touchpoints can result in satisfied customers and improved retention rates

  Addressing incremental touchpoints also helps with cross selling and up-selling opportunities

The NexisLexis Risk Solutions analysts suggest taking a “proactive, data-driven approach to monitoring and anticipating key events in the lives of insureds” and say doing so can give a company an advantage and can help grow revenue.

They also point out that the retention levels for all carriers for auto insurance is just over 82% and it’s been just above that mark for the last couple of years. However, while it seems like good news the management of LexisNexis Risk Solutions wanted to know what created the insurance shopping frenzy of those switching and they wanted to know why.

This is what they learned from the over 2,000 people quizzed.

  62% of auto policies are shopped off cycle and not within the traditional renewal window

  40% of all auto policies were shopped in the last year

  78% of policyholders have shopped their auto insurance in the last five years

  16% of auto policies are shopped in the 30-days immediately after a renewal

To learn more about auto insurance shopping, LexisNexis divided people into two groups: shoppers and non-shoppers. Surprisingly — especially so in the case of the non-shoppers — it appears that shopping is a common occurrence that happens equally in the two groups.

Or put a different way, while even non-shoppers shop, just one in five in both groups combined actually switch carriers.

While both appear to look around, they have much different ways of exploring. Shoppers tend to shop around online. They are also more likely to go directly to an insurers website and are more likely to use a rating tool than non-shoppers.

The difference is 42% to 26%.

Another commonality. Whether a consumer is a shopper or a non-shopper they tend to like personal help with their purchase. They want someone on the phone who works directly with the carrier or they want an independent insurance agent.

In the case of the agent members of the PIA, we think contact with an independent agent is best.

  Shoppers want the personal touch 68% of the time

  Non-shoppers want it 83% of the time

When it comes to the actual shopping, non-shoppers who’ve shopped recently are more likely to:

  Research auto insurance in person

  Purchase through an agent

  Renew a policy immediately upon receiving notice or automatically renew

  Pay just some attention to coverage and price at the time of renewal

Shoppers are more likely to:

  Research auto insurance online

  Contact insurance companies or independent agents while doing research

  Purchase auto insurance online directly through the insurance company

  Renew the auto policy within 30-days of receiving notice of renewal

  Very closely review both coverages and price at renewal time

Another surprising conclusion of the survey is how informed people are about their policies. Most are up to speed on them and what they contain, and do their research on them before the shopping experience begins.

And 72% are very aware that they can switch carriers at any given time.

Non-shoppers are believed to be more loyal than shoppers but the survey also found that price — these days — is more important than loyalty. In fact, price is the main reason people change.

Ironically, it is also the number one reason people decide to stay with their current carrier. Of concern to carriers are the people that want to change and that are unhappy but don’t change because of price.

It is something that needs to be considered when marketing to individuals.

Even when Non-shoppers who’ve shopped recently research their insurance options, they typically do so because of price. However, for this group, other drivers that send them shopping include:

  The desire to stay informed about different prices and offerings

  Their policy is up for renewal

  Their premium is increasing

Again, what is clear from the LexisNexis survey is that people mainly leave one carrier for another because of price. This isn’t just the case for those with lower incomes. The surveyors found those making between $100,000 and $150,000 a year will switch carriers for savings of as little as $100.

Sometimes even less.

When it comes to price half of those identified as shoppers say they shop at every renewal or if they think their premium is too high. That leads us to renewals.

Non-shoppers first:

  Non-shoppers are more likely to renew than shoppers

  38% of them renew with their existing carrier immediately upon receiving a renewal notice

  27% of non-shoppers renew with little or no review of the policy



  They are more likely to renew within 30-days of receiving a renewal notice

  70% review both price and coverage before renewing

This is a huge hint for insurers. Shoppers — says the survey — are “a highly engaged segment.” It is something LexisNexis says insurers should pay attention to and exploit in their outreach strategy.

Next up in the survey is information on whether insurers ought to appeal to loyalty. Here’s why that’s a good question:

  50% of shoppers expect to shop again in the next year

  One in five — shoppers and non-shoppers — will switch carriers when they shop

  That said, non-shoppers are less likely to shop around

  Less likely, yes, but recent non-shoppers think an event will happen in the future that will cause them to shop

  When non-shoppers end up shopping 10% of them will change carriers

As for insurer satisfaction, both shoppers and non-shoppers seem to be pretty satisfied with their carriers.

  80% of non-shoppers are satisfied

  72% of shoppers are satisfied

After exploring price, LexisNexis Risk Solutions analysts looked into other things that could get consumers to change carriers. These are a few of the items:

  Adding or removing a driver

  Buying or leasing a new vehicle

  A drop in household income

  Purchase of a new house

  Getting married or divorced

  Moving or relocating

There’s more:

  60% of the respondents said they’d experience a life event in the last year

  That event caused them to shop their auto insurance

  65% expect a life event to occur in the next year or two

  In that group 60% think it will influence their decision to shop their insurance again

  40% of non-shoppers think an upcoming life event will cause them to shop

The conclusion of the survey is this — insurance purchasing is very fluid. The more agents and carriers understand what’s happening these days, the easier it will be to retain customers.

“The U.S. auto insurance marketplace is highly competitive, with steady annual revenue growth each year from new consumers entering the market,” the report noted in its conclusion and with that it went on to ask a question.

“It can be very challenging for carriers to stay abreast of consumer shopping behavior and retain their best policyholders. With price serving as a primary insurance purchasing factor, life events presenting a potential shopping trigger and loyalty being a nebulous attribute, what is the competitive opportunity for carriers?”

That opportunity — it appears — is offering personal and “perfectly timed” outreach to meet the needs of the insured.

“Those carriers that have insights into changes within their policyholders’ lives or who know when consumers are shopping their insurance will have a leg up on the competition,” the LexisNexis analysts concluded.


Source link: LexisNexis Risk Solutions

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Benefits — Married? Single? There’s a Difference

Posted By Administration, Tuesday, December 3, 2019

It’s benefit season. We’re all trying to figure out — employers and employees — what benefits we’ll need and have in 2020.

It turns out that when it comes to benefits being married is much better than being single. Or so says a new report from Thomsons Online Benefits. The firm’s vice president of client solutions is Matthew Jackson. He said married employees get more paid time off and receive more employer-contributions to their healthcare and their pension plans than those that are single.

This is true of 90% of the companies in the U.S.

“I don't think companies are deliberately penalizing single employees, [but] the changing nature of the family structure and what happens outside of work has to be reflected inside of work,” Jackson said.

As proof Jackson took a look at the language that has been used in benefit policies and they tend to be aimed at the traditional family unit.

“The legal definition of partner in a policy, for example, refers to spouse,” Jackson pointed out. “It's about bringing this world more up to date and in line with what society is like today. If companies follow these policies to the letter, it's not inclusive or acknowledges how the workforce is changing.”

Jackson and Thomsons Online Benefits report points to a Census Bureau calculation that says 110.6 million of us — over age 18 — are single. And single women make up a larger part of the workforce than ever.

Benefits — Jackson points out — have not kept up.

  Married employees get an average of 3.6 more days of personal time off

  They get more time for bereavement than single employees

  70% of employers offer family paid leave only to those with children

  This in spite of 39.8 million Americans caring for sick and disabled family or loved ones

“Workplaces need to broaden the definition of things like bereavement leave and partner coverage and broaden the definition of dependent,” Jackson said. “This is where the argument for personalized benefits comes in — you do you, within the boundaries of the law.”

He says healthcare is a good place to start. The Thomsons study found:

  The average monthly married employee health care plan contribution is $462

  The single employee gets an average $344

  In a decade the married employee gets an extra $14,160 in healthcare benefits

“If you’re single, you’re missing out on benefit value. [Employees] can get that back in some sort of health allowance that’s more suited to [their] lifestyle,” Jackson added.

  83% of employers agree that benefits should be offered to all employees equally

  Yet just 59% of companies actually do

Jackson says supporting all workers equally is becoming more and more necessary to keep top employees or to recruit top talent. And offering some people better packages than others can also lead to conflict.

Younger companies — Jackson points out — have figured this out. “The newer companies on the block that aren't burdened with legacy are more likely to be pioneers in this space,” Jackson said and added that older companies are getting the message and making changes.

“It's more impressive when companies are reinventing themselves and transforming the way they do things. They have to undo a lot of norms that have been done for decades,” Jackson concluded. “There's a lot of room and opportunity for change, and it's all certainly moving in the right direction. It's happening right now.”


Source link: Employee Benefit News

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Banks — Disappearing from Rural America

Posted By Administration, Tuesday, December 3, 2019

A new study by Bain — the financial consulting firm — says bank branches are abandoning rural America. The study says it is likely putting inexpensive and convenient banking and financial services out of reach.

Online banking appears to be the reason for the shift. Younger people, and those that are more understanding of how to navigate the web are using online services more. So banks are responding by reducing staff and branches.

As part of its proof the study quotes statistics from the Federal Reserve that says over half of the counties in the U.S. lost bank branches between 2012 and 2017. Several counties in the PIA Western Alliance states of Idaho, Nevada, Arizona and New Mexico are among those that Bain says are distressed because of closing bank branches.

Counties most impacted in the PIA Western Alliance states:

  Idaho — Butte County

  Nevada — Storey County, Mineral County, Lincoln County

  New Mexico — Mora County

  Arizona — Greenlee county

Bain says urban areas are also being impacted by online banking, and both urban and rural counties have lost branches at the same rate. It’s a 7% drop. But the impact — Bain points out — is much bigger in rural areas than urban.

Of the half of the impacted counties in the country, 40 of them are “deeply affected.” The Fed defined that in 2012 as being 10 or fewer bank banks in a county. Today those 10 or fewer banks have been cut in half.

There are also 100 banking markets — most of them rural — that went from having at least one bank headquarters to having none. Industry consolidation is the reason.

The communities impacted tend to be poor with lower median incomes and high poverty rates. People living in those counties also have less education and lack transportation options.

The study makes an obvious point. Not having access to a physical bank branch makes managing money much more difficult. Sometimes we need face-to-face, person-to-person contact to resolve banking problems or to do a complicated transaction.

Plus, while online banking is growing, and is important, most of us still conduct our main banking business at a physical location. A good example is taking out a loan. Another is resolving a dispute. People are much more satisfied in these cases when there is physical contact.

Talking to someone on a video screen or in a computer chat box is not all that acceptable in these — and most — cases.

A high percentage of those in rural communities that have lost banks have switched to online banking. However, some find expensive and not all that reliable web service to be difficult to use.

Older customers with zero digital knowledge and experience are being totally left out.


Source link: MSN Money

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An Interesting Journey — New but Not Sold Cars

Posted By Administration, Tuesday, December 3, 2019

You see them at auto dealerships. Lots of last year’s models — mostly on sale. But what happens if they don’t get sold? That’s a question recently answered by an article in Reader’s Digest.

We read the article, found it fascinating and are now sharing what we learned with you.

Auto dealerships — as most of you know — are franchises. They purchase autos from manufacturers who have awarded them the franchise. Once they buy them, the dealership owns them lock, stock and steering wheel. It goes without saying that they sell the vehicles for a profit.

They hope for a high profit.

But once the vehicles are close to a year old the value drops. Plus, newer models are coming out and room in the showroom and on the lot — or lots — is needed to sell them. Unsold autos from last year or earlier in the year cannot be sent back to the manufacturer.

They don’t want them.

So to make a profit — or at least recoup the original cost — dealers have to sell them. And they have to sell them any way they can. What makes it tough is that there aren’t that many options to get them off the lot.

What some of them do is send what they have to markets where a specific model they can’t sell is in demand. Sometimes they trade with other dealers for vehicles they need or can use.

Others end up selling surplus autos at auto auctions. That means the dealership has to discount the price. That means they don’t make as much profit because the auctioneer has to be cut in on the total sale.

If shipping off, trading or auctions don’t work, some vehicles end up being used as loaners for those getting repairs done or for other work. That means the dealership eats the total cost.

The last thing a dealership will do — and this is considered the nuclear option — is to just price the vehicle to sell. That’s when — says George Iny of the Automobile Protection Association — a consumer needs to be thinking about buying that new car.

It’s the time to pounce because that’s when the new vehicle you want will be at its lowest possible price.


Source link: Reader's Digest

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A Professional Hacker Expert to You — Here’s the Mistakes You’re Making Online

Posted By Administration, Tuesday, December 3, 2019

Etay Maor works for IBM Security as an executive security advisor. He’s an expert on professional hackers. Maor is offering up some very good advice to avoid major problems with your smartphone and your personal computers.

He knows most of us are pretty good — and feel confident — about the complex passwords we use to protect our devices. But most of us fall short in one of the more dangerous areas — social media.

He says you have more to worry about what’s happening online than the sharing of phone numbers, credit card numbers and addresses. Things like the use of your mother’s maiden name or the name of your pet on social media can be just as dangerous, if not more dangerous.


These are things that are often used in the two-step verification questions or password verification. They are easily learned by a scammer just by spending some time on your Facebook page, or Twitter and Instagram posts.

"Today, people are writing about everything,” Maor said. "They're putting everything online, and then they get mad at you if you don't read it.”

Social media is not something we think about — Maor noted — however, we do think about what we give to companies and organizations needing personal information. What we don’t realize is that some of that information isn’t actually needed. With that he gave an example of not putting his Social Security number on a new patient form at a doctor’s office.

Maor said the doctor didn’t need the info. "So why did you ask me for that in the first place?” He said. ”If you get breached, and then the information is there, I'm going to have a whole other set of problems.”

Another important area is application permissions. Some companies like Apple and Google will try to make it easier to manage the apps that have access to different parts of your smartphone. It is — however — up to you to keep track of the apps and what they’re accessing on the phone.

"We don't look at it anymore, we just click next," Maor said. "So we need to pay attention to these things."


Source link: MSN


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Multitasking — Tough on Everyone but Millennials

Posted By Administration, Tuesday, December 3, 2019

Doncha just hate multitasking? So many things to do at one time and so little time in which to do them. There’s your schedule to follow but as soon as you start working on something up pop a dozen emails that need handled immediately. So you start answering them and the phone rings.

Then more emails come up.

After that the boss pops in and wants to chat about your schedule for the day and has a dozen things for you to do that aren’t on your schedule. And what? Is that more emails? Then the texts start coming and on the day goes. Some of us — experts say — average more than four information technology (IT) switches a minute.

It’s too much. Overwhelming. If only we could multitask better. But we can’t. In fact, multitasking might as well be a foreign language. We don’t speak it and we can’t do it.

Millennials — it turns out — can. It’s not a legend. New research says they’re actually very, very good at multitasking. In fact, millennials will tell you it’s really easy. Some will even offer to give you lessons. Not that those lessons will do you any good.

Insert laugh there. A rueful one at that. But that’s true. It won’t likely do you much good at all.

As a joke a lot of people are now calling millennials the “net generation.” They can use a bunch of technologies (IT) all at once and can do so quite easily. Or so says the researchers at Florida Atlantic University’s Charles E. Schmidt College of Science.

These researchers became the first to actually study the phenomenon. They took 177 mostly college aged subjects and divided them into three groups:

  One group received IT interruptions

  One group did not

  One group was a control group

The three groups were compared for accuracy, the ability to complete tasks and their anxiety level. The results were then published in Applied Neuropsychology. Researchers found that those switching between technologies did not have a diminished performance when compared to those that weren’t interrupted and those in the control group.

What did puzzle lead researcher Monica Rosselli, Ph.D. is a diminished performance from some subjects in the group that didn’t receive any IT interruptions.

“We were really surprised to find impaired performance in the group that did not receive any information technology interruptions. It appears that the Net Generation thrives on switching their attention and they can do it more efficiently because information technology is woven throughout their daily lives,” she said. “Because younger generations are so accustomed to using instant messaging, pop-ups like the ones we used for our study, may blend into the background and may not appear surprising or unplanned, and therefore may not produce anxiety.”

Also of note, all three groups reported very little anxiety. Researchers didn’t find any stress or anxiety either.

Research done with the general population found that it takes 25 minutes to return to the original task after an IT interruption. Worse, 41% of those interruptions will result in the task not being done at all.

They also found that emails alone cause workers 96 interruptions a day and add an additional one and a half hours of recovery time a day. So what this says is that younger generations are just better at handling technology than the rest of us.

“How we adapt to technology and leverage it to our advantage by deciding what information we attend to at any given moment has substantial implications on our ability to remain valuable and productive in our respective work and education domains,” study co-author Deven Christopher said. “Results from our study may provide a basis for further research, especially because younger generations are developing in a more connected world than preceding generations.”

For now, the conclusion is, since these people grew up with technology and have used a lot of technology practically since they were babies, it’s a no brainer. They have “greater digital literacy” than any of the generations before them.

Or to put it a different way, they can switch attention more efficiently than other generations.


Source link: Insurance Journal

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Around the PIA Western Alliance States

Posted By Administration, Tuesday, December 3, 2019

Alaska — RA 19-02: Adopting Changes to Regulations of the Division of Insurance: Regulatory Adoption Order RA 19-02 https://www.commerce.alaska.gov/web/Portals/11/Pub/RA19-02.pdf  Adopting Changes to Regulations of the Division of Insurance

On October 1, 2019, the Division of Insurance adopted regulation changes in Title 21 and 28, Chapter 03 of the Alaska Administrative Code. The regulations concern credit for reinsurance, internal audit functions, corporate governance annual disclosure, and Medicare supplement insurance.

The regulation changes were reviewed and approved by the Department of Law, signed and filed by the Lieutenant Governor on November 26, 2019, and will go into effect on December 26, 2019. See attached copy of the filed version of the regulations.

The new regulation changes will be printed in Register 232, January 2020 of the Alaska Administrative Code.

Regulatory Adoption Order RA 19-02: https://www.commerce.alaska.gov/web/Portals/11/Pub/RA19-02.pdf

Oregon — Agents' Advocate

To: Producers of Non-admitted Wet Marine & Transportation Insurance

In 2019, the Oregon legislature passed House Bill 2787, which takes effect on January 1, 2020. As a reminder, this bill imposes a tax of three-fourths of one percent (0.0075) of the gross premium amounts on all non-admitted Wet Marine & Transportation insurance policies that the insurance producer places with unauthorized or non-admitted insurers if the insured’s home state is Oregon.

The tax applies to policies issued or renewed on or after January 1, 2020. It is the responsibility of the insurance producer to collect, file and pay the tax within 90 days of the effective date of the policy or premium bearing endorsement. The filing and payment of the tax must be done through the Oregon Surplus Line Association —  additional information is available on their website at http://www.oregonsla.org/.

The Surplus Line Association has the authority to charge a service charge for each policy or premium bearing endorsement filed. Details related to the service charge are available on their website.

Details relating to the law can be found in the text of the enrolled bill: https://olis.leg.state.or.us/liz/2019R1/Downloads/MeasureDocument/HB2787/Enrolled

Lana Butterfield
PIA Oregon Lobbyist
P.O. Box 1517
Wilsonville, OR 97070
503/682-3839 office
503/819-5800 cell

Washington — Work Comp Rate Drops: The Washington Department of Labor & Industries says there will be a 0.8% decrease next year. The 2020 rate will be the third straight drop.

In 2019 the drop was 5% and in 2018 it fell 2.5%.

L&I Director Joel Sacks said, “Our workers’ compensation system is in good shape. Every year we help tens of thousands of people recover from on-the-job injuries and go back to work. Our programs to help injured workers are making a real difference, and workplace injury rates in Washington are declining. That’s great for workers and their families and is helping us keep costs down.”

The employer in 2020 will pay about $15 less than this year. Overall there will be a total of $21 million less in premium income next year.

Source link: Insurance Journal


Washington — From the Commissioner’s Office: Service-contract providers and protection-product-guarantee providers: Solvency and filings requirements (R 2016-23) CR-102 comment period extended

The comment period for the CR-102 has been extended from Nov. 14, 2019 to close of business Nov. 27, 2019. 

The rule will consider clarifying solvency and financial requirements of service contract providers and protection product guarantee providers, forms of a parental guarantee, the filings these entities submit to the Commissioner, and the correction of outdated statutory citations.

We scheduled a public hearing on the rule:

When: November 27, 2019, at 08:30 a.m.

Where: 302 Sid Snyder Ave. SW, Suite 200, Olympia, WA 98504

Comments on the proposed rule language are due Nov. 27, 2019; please send them to rulescoordinator@oic.wa.gov.

For more information, including the proposed rule language (CR-102), please visit the rule's webpage.

Service-contract providers and protection-product-guarantee providers: Solvency and filings requirements (R 2016-23) CR-102 comment period extended

The comment period for the CR-102 has been extended from Nov. 14, 2019 to close of business Nov. 27, 2019. 

The rule will consider clarifying solvency and financial requirements of service contract providers and protection product guarantee providers, forms of a parental guarantee, the filings these entities submit to the Commissioner, and the correction of outdated statutory citations.

We scheduled a public hearing on the rule:

When: November 27, 2019, at 08:30 a.m.

Where: 302 Sid Snyder Ave. SW, Suite 200, Olympia, WA 98504

Comments on the proposed rule language are due Nov. 27, 2019; please send them to rulescoordinator@oic.wa.gov.

For more information, including the proposed rule language (CR-102), please visit the rule's webpage — https://www.insurance.wa.gov/service-contract-providers-and-protection-product-guarantee-providers-solvency-and-filings?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=


Webinars on Balance Billing Act now posted

Two recent webinars on the new Balance Billing Protection Act are now posted on our website.

Nov. 12 webinar for the Association of Washington Health Plans

Nov. 13 webinar for the Washington State Hospital Assn. and the Washington State Medical Assn.

Each presentation is essentially the same, but there are different question and answer sessions at the end of each with the audience members. 

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The PIA Western Alliance Wishes You a Happy Thanksgiving

Posted By Administration, Monday, November 25, 2019

On behalf of the PIA Western Alliance board of directors, and the management and staff, Weekly Industry News wishes you the happiest of Thanksgivings.

We are thankful for you, and for your membership and for the contributions you make to this most incredible industry. And with that we begin this Thanksgiving issue of Weekly Industry News with some fun Thanksgiving facts and we start with the meal:

  We will eat 46 million turkeys on Thursday

  The average turkey for weighs 15 pounds

  The state consuming the most turkeys on Thanksgiving day is California

  4,500 is the average number of calories consumed on Thanksgiving Day

  By the way, Butterball will answer over 100,000 turkey-cooking questions this month and next


Football and Thanksgiving

  The tradition of football on Thanksgiving started in 1876 with a game between Yale and Princeton

  The National Football League began its annual game — and now games — in 1920

  It used to be that just Dallas and Detroit played games but a third has been added


One last TV fact

  Most of you will watch the annual Macy’s Thanksgiving Day parade on TV

  It started in 1924 when 400 employees marched from Convent Ave to 145th street in New York City.

  There were no balloons or floats on the inaugural day just live animals from the Central Park Zoo

Last facts

  Over 54 million of us are going to travel this weekend

  That’s up 4.8% from a year ago

  Why the fourth week? That’s where President Abraham Lincoln put it


Source links: Worldstrides, allparenting.com

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