Mitchell International and J.D. Power and Associates Extend Partnership on Industry Leading Total Loss Solution: Deepen Commitment to Estimate Accuracy and Policy Holder Satisfaction
Posted 10:29 AM Aug-21-2009
Mitchell International, Inc., a leading provider of information, workflow and performance management solutions to the Property & Casualty claims and Collision Repair industries today announced it has extended its alliance with customer satisfaction and vehicle pricing expert J.D. Power and Associates, in the delivery of Mitchell's total loss valuation solution -- WorkCenter(TM) Total Loss. WorkCenter Total Loss generates fair, market driven values for total loss vehicles, helping insurers support customer service initiatives and increase policy holder satisfaction while reducing costly, friction-filled claims cycle time."We are proud to continue to combine our 63 years of experience serving the auto physical damage industry with J.D. Power and Associates, a company that is widely recognized, trusted and respected for its expertise and impartiality," said Alex Sun, President and CEO, Mitchell International....
State Auto Insurance Appoints New Chief Claims Officer
Posted 8:27 AM Aug-20-2009
The State Auto Insurance Companies has appointed Stephen Hunckler as chief claims officer. Mr Hunckler was most recently executive vice president and chief claims officer at Balboa Insurance in Irvine, California, where he was responsible for overall claims execution and strategy supporting the company's $3 billion book of business.His 33 years of professional experience includes all but six in property and casualty insurance claims, with senior management roles held at CNA, Travelers, AIG and Zurich American....
Motorists Fail to Take Cover
Posted 4:27 AM Aug-20-2009
AS MANY as one in five motorists could be driving without insurance - a third more than last year.In a survey by website www.moneysupermarket.com, 20 per cent of those questioned admitted driving their own or someone else's car uninsured.Steve Sweeney, the price comparison site's head of motor insurance, says: "Whatever the distance, driving without insurance is illegal....
Zacks Analyst Blog Highlights: Progressive Corp., Allstate Corp., Infinity Property and Casualty Corp., State Auto Financial Corp. And Duke Energy Corp.
Posted 5:26 PM Aug-19-2009
Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Progressive Corp. (NYSE: PGR), Allstate Corp. (NYSE: ALL), Infinity Property and Casualty Corp. (Nasdaq: IPCC), State Auto Financial Corp. (Nasdaq: STFC) and Duke Energy Corp. (NYSE: DUK)....
GEICO Expected to Add 300 Jobs Here: Formal Announcement Expected This Morning
Posted 12:26 PM Aug-19-2009
Aug. 19--National auto insurer GEICO Corp. will be adding about 300 jobs to its Amherst service center, boosting employment to about 1,800, sources confirmed Tuesday. The Washington, D.C.-based carrier, the nation's fourth largest private-passenger car insurer, will move a home insurance agency subsidiary to Amherst. The jobs are expected to be filled during the next two years....
DiMantova &Amp; Associates Concludes Engagement With Responsive Auto
Posted 4:26 PM Aug-18-2009
DiMantova & Associates (D&A), creator of Technology Process Management (TPM), recently completed a consulting engagement with Responsive Auto in Plantation, Florida. D&A managed the vendor contracts and implemented policy administration, claims, billing, and point-of-sale systems -- helping to bring those systems into production in just six months.Since 1999, DiMantova & Associates, Inc. (D&A) has been providing IT-related support, development, and consulting services to mid-sized businesses and Fortune 500 companies across the country....
Scotiabank Expands Insurance Product Offering
Posted 11:26 AM Aug-18-2009
Canada-based Scotiabank Group has launched an enhanced suite of insurance products and services, with new online capabilities and the group's retail storefront, a ScotiaLife Financial insurance center.The suite includes a new home and auto insurance program as well as additional life and health products - now with access to online quotes.Scotiabank said that the home and auto insurance offering provides comprehensive coverage for vehicles, including motor homes and snowmobiles, as well as residential and vacation homes, condominiums and the personal property of renters....
Kansas Drivers Can Now Save Big Bucks Based on How They Drive As Progressive Launches One-of-a-Kind Car Insurance Program
Posted 8:26 AM Aug-18-2009
Are you the poster child for safe driving, always leaving plenty of space between you and the car ahead? If so, your car is probably less likely to be involved in a crash, so shouldn't you pay less for car insurance?It is now available to Kansas drivers who purchase policies directly from Progressive online or by phone, or through its more than 500 independent insurance agents in the state....
Loyalty at a Premium
Posted 4:25 AM Aug-18-2009
The way we buy motor insurance has changed significantly over the past few years. Total net written premiums (NWP) were Pounds 7.8bn in 2007 and an estimated Pounds 8. Yet the industry continues to suffer from a lack of profitability, recording an underwriting loss of Pounds 398m in 2007, though this is estimated to have improved to a Pounds 288m loss in 2008....
Food and Drink Behind the Wheel Leaves a Bitter Taste in Motorists' Mouth
Posted 8:25 PM Aug-17-2009
Research conducted by Swinton indicates that as many as 60% of us think nothing of drinking a cup of coffee or picking at the remains of a sandwich whilst behind the wheel.The research by Swinton, the UK's leading high street retailer of car insurance, found that almost 2% of motorists involved in accidents had their concentration impaired by eating or drinking, even more than were distracted by talking or texting on a mobile phone. Drivers who are eating or drinking are twice as likely to cause an accident as those whose concentration is directed entirely upon the road....
Fitch Downgrades Progressive's IDR to 'A+'; Outlook Stable
Posted 5:25 PM Aug-17-2009
Fitch Ratings has downgraded The Progressive Corporation's (NYSE: PGR) ratings as follows:The rating action today reflects a decision by Fitch to afford increased weighting in its analysis of PGR's capital strength to the company's notional leverage ratios, which have historically been high relative to peers, as well as the company's monoline nature. The change in criteria application is designed to better capture the impact of unforeseen tail events....
/R E P E A T -- Media Advisory - Scotiabank Celebrates Launch of New Insurance Centre, With Expanded Product Offering/
Posted 12:25 PM Aug-17-2009
Who: Mark Cummings, Senior-Vice President and Head, Insurance Canada, Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With close to 69,000 employees, Scotiabank Group and its affiliates serve approximately 12.8 million customers in some 50 countries around the world....
ScotiaLife Financial Expands Insurance Product Offering, Including Home and Auto
Posted 12:25 PM Aug-17-2009
Opens First Insurance Centre TORONTO, Aug. 17 /CNW/ - Scotiabank Group today launched an enhanced, comprehensive suite of insurance products and services, with new convenient online capabilities and the Group's first retail storefront, a ScotiaLife Financial insurance centre. "Insurance is a critical component of Scotiabank Group's strategic priorities....
Cincinnati Financial Corporation Increases Regular Quarterly Cash Dividend ; Sets Stage for 49th Consecutive Year of Higher Dividends With 1 Percent Increase in Indicated Annual Dividend Rate
Posted 10:25 AM Aug-17-2009
CINCINNATI, Aug. 17 /PRNewswire-FirstCall/ -- Cincinnati Financial Corporation (Nasdaq: CINF) today announced that the board of directors voted at its regular meeting on August 14, 2009, to increase the regular quarterly cash dividend from 39 cents to 39.5 cents per share, payable October 15, 2009, to shareholders of record as of September 18, 2009.At the new level, the indicated annual dividend is $1.58 per share. The company had 162,569,163 shares outstanding at June 30, 2009....
OPINION: Car Insurance, Quick Cash and Wisconsin's Lobbying Boom
Posted 9:25 PM Aug-16-2009
Aug. 16--So much to skewer, so little space: Wisconsin will become the second-to-last state in the nation to require all of its motorists to carry auto insurance next June. About 15 percent of all drivers in Wisconsin go without auto insurance now, according to industry research....
Public Warning: Mercury Insurance Initiative to Raise Rates on Drivers Not At-Fault in Accidents Cleared for Signature Gathering
Posted 3:23 PM Aug-14-2009
The Attorney General's full title and summary, which was issued late yesterday, reads:Allows insurance companies to raise the cost of auto insurance based on the absence of prior automobile insurance coverage. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: The measure would have no significant fiscal impact on state and local governments....
Media Advisory - Scotiabank Celebrates Launch of New Insurance Centre, With Expanded Product Offering
Posted 11:23 AM Aug-14-2009
Who: Mark Cummings, Senior-Vice President and Head, Insurance Canada, Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With close to 69,000 employees, Scotiabank Group and its affiliates serve approximately 12.8 million customers in some 50 countries around the world....
Senior Internet Search on the Rise, As Castle Cover Delivers Over 2,000 Online Home Insurance Sales in June
Posted 2:23 AM Aug-14-2009
Over 50s insurance brokers Castle Cover are delighted to have achieved a record number of sales this June, as more and more 'silver surfers' seek out the best deals online.Last month, over 2000 home insurance sales were registered on the site, which delivers comprehensive insurance policies, exclusively for the over 50s.Established in July 2006, Dorset-based Castle Cover have grown consistently to become the 3rd-largest insurer for the over 50s....
GAINSCO Reports 2nd Quarter 2009 Results
Posted 7:23 PM Aug-13-2009
DALLAS, Aug. 13 /PRNewswire-FirstCall/ -- GAINSCO, INC. (NYSE Amex: GAN) today announced net income for the second quarter 2009 of $1.6 million, or $0.34 per common share, basic and diluted. Net income for the six months ended June 30, 2009 was $3.7 million, or $0.76 per common share, basic and diluted. This compares to net income of $1.1 million for the six months ended June 30, 2008, or $0.23 per common share, basic and diluted....
SulAmerica: Recurring Net Income Increases 57.8% to R$84.1 Million in 2Q09
Posted 12:22 PM Aug-13-2009
RIO DE JANEIRO, Aug. 13 /PRNewswire-FirstCall/ -- Sul America S.A. (Bovespa: SULA11) announced today its results for the second quarter of 2009. In 6M09, recurring net income reaches R$188.4 million, up 9.5% on 6M08.Total insurance premiums move up 16.1% in 2Q09, reaching R$2.1 billion (up 7.6% over 1Q09)....
Progressive Insurance Partners With Web.Com to Help Independent Agents With Online Marketing; With Three-Quarters of Auto Insurance Consumers Shopping Online, Progressive Insurance Agents Will Reach Customers With Help of Online Marketing Leader
Posted 10:22 AM Aug-13-2009
MAYFIELD VILLAGE, Ohio and JACKSONVILLE, Fla., Aug. 13, 2009 (GLOBE NEWSWIRE) -- Web.com (Nasdaq:WWWW), a leading provider of online marketing for small businesses, announced today an agreement with Progressive Insurance (NYSE:PGR) that will provide Progressive's independent insurance agents with access to a complete suite of online marketing business solutions.For this reason, we chose to work with the leader in that space, Web.com. With 73 percent of auto insurance customers shopping online and 67 percent eventually buying from an agent,* we need to make sure our agents have every available means of providing their customers with the high quality, competitively priced products and services that have made Progressive the largest insurance company in the independent agent channel."...
UK Car Insurance Providers Must Be Careful About Charging Interest
Posted 6:22 AM Aug-13-2009
The latest report from the Automobile Association in the UK reveals the extent to which car insurance providers charge for monthly repayments of car insurance premiums. Datamonitor's Financial Services Consumer Insight research suggests that this tactic may not be sustainable in the long term, given consumers' growing value awareness and the financial difficulties in which many find themselves.Datamonitor's flagship consumer survey, which assesses consumer attitudes and behaviors throughout the economic downturn, has found that around 47% of UK consumers aged 18 and above have seen a worsening of their household financial situation....
EDITORIAL: Stiffer Penalties Needed for Uninsured Motorists
Posted 12:22 AM Aug-13-2009
Aug. 12--You work hard to pay your bills on time, provide for your family and responsibly follow state law by carrying automobile insurance. How does it make you feel to know there are thousands out there who drive along our highways and roads with no automobile insurance? The Insurance Research Council revealed that 26 percent of Alabama drivers did not have insurance in a study released in January....
Progressive posts 40 percent income gain for July
Posted 11:22 AM Aug-12-2009
MAYFIELD VILLAGE, Ohio - Auto-insurance provider Progressive Corp. said Tuesday its July income jumped 40 percent, as it reversed investment losses and settled certain cases for less than it had set aside to cover them.The company said net income rose to $114.9 million, or 17 cents per share, compared with $81.8 million, or 12 cents per share, in July 2008.It posted $25.8 million in net realized gains on securities, or investments, compared with a loss of $16.1 million in July 2008....
The Estate Vault Partners With Nation Safe Drivers Group to Launch Estate Vault Solutions to the After-Market Auto Marketplace
Posted 10:22 AM Aug-12-2009
The Estate Vault, LLC., subsidiary of The Estate Vault Inc. (PINKSHEETS: TEVI), a leading provider of secure, portable digital content value added products and services to organizations and the financial services industry, announced today a partnership with Nation Safe Drivers, the Florida-based company, creating additional revenue opportunities for automobile dealerships and manufacturers, car insurance companies, car insurance agencies, private organizations, cellular companies and most other after-market automotive related companies.Boyd Soussana, CEO of The Estate Vault, stated, "This is the first project that we are launching through our relationship with Strategica Capital Associates, Inc., and I am very excited about the market potential and visibility that it will bring to The Estate Vault. They understand how to market niche products and we look forward to working with their entire team in the launch of The Estate Vault."...