No-Fault Talks Gain Momentum: Talks Gained Momentum in Tallahassee Monday on Ways to Preserve and Reform Florida's No-Fault Auto Insurance System Before It Expires in October
Tuesday, September 18, 2007
Sep. 18--AND GARY FINEOUT As talks continued in Tallahassee Monday on ways to reform Florida's controversial no-fault auto insurance law, agreement is emerging on capping fees for medical care after an auto accident. Finding an acceptable method to contain these costs has been a major sticking point for lawmakers eager to preserve the no-fault law....
Detroit Free Press Matt Helms Column: Hines Drive is Closing Today
Monday, September 17, 2007
Sep. 17--Drivers on a couple of busy metro Detroit roadways will have to find alternate routes starting today. Hines Drive is scheduled to close at 6 a.m. today for two weeks of bridge work at Telegraph in Dearborn Heights. The Michigan Department of Transportation said crews will demolish the southbound Telegraph bridge over Hines, requiring the shutdown of Hines between Woodbine and Warrendale through Oct. 1....
South Florida Sun-Sentinel Personal Finance Column: End of No-Fault Likely to Require More Coverage
Sunday, September 16, 2007
Sep. 16--Oh, fun. Starting next month, unless something happens in Tallahassee, the requirement that all Florida licensed drivers carry $10,000 in personal injury protection -- called PIP -- will expire. "For the type of clients that I insure, they are going to continue buying coverage, but there's going to be a segment of the population that stops carrying automobile insurance altogether," predicts Alex Soto, who heads InSource Inc., a Miami insurance agency....
SUPER CRUNCHERS: Why Thinking-By-Numbers Is the New Way to Be Smart
Sunday, September 16, 2007
SUPER CRUNCHERS: Why Thinking-by-Numbers Is the New Way to Be Smart IAN AYERSConventional wisdom dictates that experience and intuition are unfailingly valuable when it comes to making decisions. We have entered an era in which decisions based on the analysis of data sets can produce far better results than decisions based on experience, he says....
Is the Caveman Your Favorite Ad Icon for 2007? You Can Vote Him into Icon Hall of Fame
Saturday, September 15, 2007
Without his permission or even his knowledge, GEICO is campaigning for the Caveman to be the Favorite Icon for 2007 in the annual Advertising Week online voting poll. "We figured he might think that we were trying to get on his good side by campaigning for him, so we didn't say anything to him yet," said Ted Ward, GEICO's vice president of marketing. Despite the Caveman's apparent disdain for the auto insurer's TV spots, GEICO's Caveman series of ads grabbed the attention and affection of thousands of Caveman fans around the country who created hundreds of Caveman blog sites....
Affirmative Insurance Selects Accenture Claims Solution for Its Transformation Program
Friday, September 14, 2007
Accenture (NYSE: ACN) has been selected to license and implement its claims solution at Affirmative Insurance Company, a distributor and producer of personal non-standard automobile insurance, as part of the insurer's transformation program aimed at helping centralize and automate its claims-handling operations.At Affirmative, the solution will support core claims transactions from first notification of loss through final payment."As with most carriers, claims handling represents our single-largest opportunity for our insurance business to drive significant gains in both our business performance and service to our customers," said Sean McPadden, executive vice president and chief underwriting officer of Affirmative....
AssuranceAmerica Corporation Discusses Changes in Florida Law
Thursday, September 13, 2007
ASSURANCEAMERICA CORPORATION (OTCBB: ASAM), is monitoring closely potential changes in Florida law that may eliminate the requirement for motorists to carry personal injury protection insurance (PIP) and make enforcement of any surviving requirements more difficult. The existing law will automatically expire on October 1, 2007, and while most had expected that the Florida legislature would act to extend these requirements, it appears that they may not pass the legislation necessary to extend those requirements before their scheduled expiration, if they act at all.Because many of the Company's customers purchase only insurance that is required by law, these developments could adversely impact the Company's financial performance, in our 40 retail locations in Florida and to a lesser extent our insurer which has approximately 42% of its business in Florida....
No More No Fault: Is That Bad or Good? Someone Still Must Pay the Bills After Personal Injury Protection Mandate Ends.
Thursday, September 13, 2007
Short of a eleventh-hour political intervention, causing an auto accident in Florida could soon mean more pain for your pocketbook.Once the law sunsets, motorists who cause an accident will be responsible for the other driver's accident- related medical bills, and can be sued over them.The auto insurance industry wants to get rid of PIP, saying it forces drivers to buy extra health insurance coverage they don't need....
Steady Trend in Rising Car Insurance Premiums, Finds Sainsbury's Bank
Thursday, September 13, 2007
Sainsbury's Bank car insurance index, which provides a comprehensive independent analysis of online car insurance premiums across the UK market, reveals that the cost of car insurance is steadily rising, with the average premium in July 2007 reaching GBP486.43, an increase of 2.9% over December 2006 and 4.2% over July 2006.Over the 12-month period, the average car insurance premium increased by GBP19.80.The index indicated that gender continues to have an impact on how much customers pay for their car insurance, with the average premium for men being GBP518.46, compared to GBP442.28 for women....
Provident Financial Benefits As Banks Shun Subprime Lending
Wednesday, September 12, 2007
DOOR-TO-DOOR credit company Provident Financial said it has not seen much evidence of poorer households struggling to make up their payments.The Citizens Advice Bureau today claimed it had seen record numbers of people seeking advice over debt.But Provident said defaults in its home credit division rose just 0.9% to 107.4 million in the first half of the year, and did not expect that to increase in the second half....
Tesco to Launch Compare.Com
Wednesday, September 12, 2007
Tesco will launch its price comparison website this Friday, 14th September 2007, backed by the Royal Bank of Scotland.The site will initially offer car insurance price checks, but the capability to price check home insurance, credit cards and loans is expected to follow. For each car insurance quote, the site will check 30 providers and offer a list of prices and some basic product information....
Expiration of Florida No-Fault Law Means New Rules for Motorists
Wednesday, September 12, 2007
Sep. 8--Short of an eleventh-hour political intervention, causing an auto accident in Florida could soon mean more pain for your pocketbook. The auto insurance industry wants to get rid of PIP, saying it forces drivers to buy extra health insurance coverage they don't need. Florida hospitals received more than $350 million in PIP money last year, the Florida Hospital Association noted....
Progressive Announces Organizational Changes
Wednesday, September 12, 2007
The Progressive Corporation today announced organizational changes designed to increase the Company's ability to execute on key strategies, lower its non-claims expense ratio and foster growth through more competitive pricing, improved customer retention and an increased focus on brand development.The new Personal Lines organization will be led by John Sauerland, currently the Direct Business Group President.John Barbagallo, currently the Agency Business Group President, will become Commercial Lines Group President, assuming responsibility for the Company's Commercial Auto Business and its Professional Liability Group (PLG) business....
ABC Insurance Launches Private Car Insurance Product
Tuesday, September 11, 2007
ABC Insurance, part of the LV= Group, has launched a new private car insurance policy, which is available exclusively via insurance brokers.The launch is expected to spearhead ABC's entry into the personal lines market and is its second new product following the launch of its business insurance policy in May 2007. Brokers will have a choice of two products both offering the same level of cover; one with a lower commission level passing on the benefit in the form of a cheaper price to the customer....
Budget-Cutting Special Session Cancelled: That Means PIP Likely to Expire Come October
Tuesday, September 11, 2007
Sep. 8--A special legislative session aimed at adjusting to a slower state economy was called off because House and Senate leaders were unable to compromise on cutting more than $1 billion from the state budget. Legislators intended to meet Sept. 18 to cut the $71 billion state budget to match projected revenues, which could be $1.1 billion less than originally estimated. The House and Senate approached the cuts differently, Rubio spokeswoman Jill Chamberlin said....
A Treat For Fido, Fluffy: Car Insurance
Tuesday, September 11, 2007
An insurer named Progressive wants to protect pets from stupid human tricks at the wheel. Progressive is believed to be the first auto insurer promising to pay its own customers for dog or cat injuries or death -- up to $500 per accident -- when their pets are hurt while riding in their vehicles. But Progressive knows that sometimes their customers crash and either they're to blame, there's no other vehicle involved, or the other guy is at fault, but doesn't have insurance....
What to Expect After No-Fault Expires
Tuesday, September 11, 2007
Sep. 11--Here are questions and answers on figuring out what auto insurance you might need after the no-fault law expires as expected on Oct. 1.: A. After the no-fault law expires, drivers will no longer be required to buy $10,000 in personal injury protection, or PIP, that covers medical expenses and lost wages in an accident, regardless of who is at fault. Only property damage liability will be required for drivers to register a car in Florida....
BRIEF: State Farm Sponsors Driver Safety Program in Boise
Monday, September 10, 2007
Sep. 9--State Farm Insurance is sponsoring an AARP Driver Safety Program from a.m. to 4:30 p.m. Saturday at 12601 W. Explorer Drive, Suite 150, Boise. Copyright (c) 2007, The Idaho Statesman, Boise...
Your Money: Pound Notes - Wwwebwatch
Monday, September 10, 2007
www.ConfidentCover.com NEW car insurance comparison website for the over-50s launched this week by Saga. It allows users to compare over 30 policy features side-by-side, such as the excess, courtesy car and call centre location, as well as the premium. Insurers currently on ConfidentCover.com include Swiftcover, Saga, Endsleigh, Hastings, More Than, Yes and the AA....
2007 ERNST & YOUNG ENTREPRENEUR OF THE YEAR: Dave Roush, Insuring Success
Monday, September 10, 2007
Dave Roush, founder and CEO of Insurance.com, has a simple goal in mind.Roush originally developed the concept behind Insurance.com on a napkin. Another key decision Roush made was keeping communication between management and employees open and honest....
EDITORIAL: Lawmakers Have Enough Ideas to Craft a Solution ? Albeit an Imperfect on ? to PIP
Sunday, September 09, 2007
Sep. 8--ISSUE: Car insurance law set to sunset. The special session has been delayed, but there's still reason for lawmakers to trek up to Tallahassee and deal with a looming hole in auto insurance. Most knowledgeable, reasonable people in Florida understand that eliminating this requirement -- at least without replacing it with something -- is potentially a really bad idea....
If You Drive, You Must Read This
Saturday, September 08, 2007
Sep. 7--TAMPA -- In less than a month, Florida's 36-year-old no-fault auto insurance law will die. The law, which is set to expire Oct. 1, is almost certain to sunset now that legislative leaders have delayed the special session that was slated to begin this month. The reason: Coverage of medical bills for those injured in auto accidents will no longer be guaranteed -- especially for motorists who carry no medical insurance....
THE WATER COOLER ; New Road Rules for Insurers
Saturday, September 08, 2007
Auto insurers would be permanently banned from using personal details about motorists - such as their marital status, education, profession and homeownership - when setting premium rates under a new "managed competition" system outlined yesterday by state Insurance Commissioner Nonnie S. Burnes.Burnes, who surprised many last month by announcing her support for a major overhaul of the state's current system for setting auto insurance rates, also is proposing a one-year ban on insurers using motorists' credit ratings when setting prices for insurance premiums.In a statement, Burnes said the one-year ban would give state officials more time to study whether credit ratings can eventually be used by insurers, though some lawmakers are bitterly opposed to any use of these ratings when setting premiums....
BRIEF: State Farm Sponsors Driver Safety Program
Saturday, September 08, 2007
Sep. 7--State Farm Insurance is sponsoring an AARP Driver Safety Program from 8:30 a.m. to 4:30 p.m. Saturday, Sept. 15, at 12601 W. Explorer Drive, Suite 150, Boise. Registration is required by calling 345-4357, Ext. Copyright (c) 2007, The Idaho Statesman, Boise...
Good Day at the Office for Wales Plc
Saturday, September 08, 2007
It was a good day at the office for Wales Plc yesterday. Insurance broker ProtectaGroup, which has its headquarters in Williamstown, Rhondda, has made its 11th and biggest acquisition to date in a cash deal for the general insurance arm of Cardiff- based Julian Hodge Bank. Newport-headquartered Monmouthshire Building Society posted its best ever pre-tax profits....