PIA’s September 15 filing of an amicus curiae (friend of the court) brief with the United States District Court for the District of New Jersey, in opposition to certain aspects of a proposed settlement involving Zurich Insurers is drawing news coverage and positive comment. In the days following the PIA filing, it was covered by the National Underwriter, Insurance Journal, Business Insurance and Forbes.

One reader wrote an extensive commentary to Insurance Journal. In it, the reader called the recent spate of settlement agreements “lunacy”:

“Go PIA!!  It is about time someone challenged the lunacy of these agreements that have no teeth, but make a lot of noise. It has to stop, and maybe now that the AG’s have begun to soften on Willis, Marsh and Aon, they will listen to PIA and respect the value of the local agents who employ millions and keep business in their local communities. These local agents have to face their clients everyday at church or the local chamber. That is their motivation for good service, not a few points.”

“The brief does a good job questioning how you can have an entire segment (the small agent) be persecuted for what a few large agents did. These smaller agents did not have the same incentives, or opportunity…PIA is on the mark here, and good for them. It is not good for the business to make the average consumer jump through yet more hoops to buy insurance from an agent is just not fair to the agents or consumers. The system actually works pretty well… AG’s really should spend more time enforcing existing regulations, this where the focus needs to be.”

Agent Group Opposes Zurich Class Action Settlement (Business Insurance 9/19/06)
 
PIA Files Brief in Zurich Action (National Underwriter 9/19/06)
 
Agents Take Aim at Zurich Compensation, Disclosure Settlement (Insurance Journal 9/20/06)
 
PIA Files Amicus Brief (Insurance Newsnet 9/19/06)

PIA Files Amicus (Insurance Broadcasting 9/21/06)
 
Text of PIA’s Amicus Brief (Filed September 15, 2006) (PDF file)

September 26, 2006