Texas Cracks Down on Uninsured Drivers
Posted 12:00 AM Apr-29-2005
AUSTIN, Texas -- Drivers will soon be required to prove they have auto insurance or get off the road. A bill approved unanimously by the Texas Senate will create a new insurance verification program in order to decrease the number of uninsured Texas drivers."Driving is a privilege, not a right," said Senate Bill 1670's author, state Sen. Todd Staples, R-Palestine, "and with a privilege comes personal responsibility....

 Ifsra Urges Motorists to Shop Around for Insurance
Posted 12:00 AM Apr-28-2005
Young motorists can save as much as [euro]1,700 by shopping around for car insurance, according to a survey by the financial regulator, Ifsra.The study, which compared policies provided by seven different insurers, showed that a 20-year-old female student with a provisional licence living in Co Kildare could spend as much as [euro]2,302 on third party, fire and theft cover for her Fiat Cinquencento, or as little as [euro]971 depending on where she buys the policy.In this scenario, Hibernian provides the best-value motor insurance, according to the regulator....

 Tokio Marine to Buy Brazilian Insurers From ABN Amro
Posted 12:00 AM Apr-28-2005
Tokyo, April 28 (Jiji Press)--Tokio Marine and Nichido Fire Insurance Co. said Thursday it will acquire two Brazilian insurance units of the Dutch financial giant ABN Amro group for 35.9 billion yen by this summer.The two firms are Real Seguros SA and Real Vida e Previdencia SA, both based in Sao Paulo.Together, Real Seguros and Real Vida make up the seventh largest insurance group in Brazil, posting premium revenue of 74.9 billion yen in 2004....

 Teen Forced to Assume Adult Responsibilities
Posted 12:00 AM Apr-28-2005
Lewis County High SchoolFor Lewis County High School senior Jacky Jacobs, this is just what happened at the beginning of the school year. Now, Jacobs is living on his own in a three-bedroom Weston home where he must cook, clean, pay bills, wash dishes, keep a job, do laundry and manage school work....

 State Farm Planning for Comeback in W.Va.: ; Insurance Company to Accept New Applications for Homeowners Policies
Posted 12:00 AM Apr-27-2005
State Farm Insurance plans to become a full-service player in West Virginia again. State Farm stopped accepting new customers for homeowners insurance in July 2002 and for business insurance in January 2003, citing nearly $200 million in losses it incurred in West Virginia from 1993 through 2003.State Farm and other insurers pledged to roll back auto insurance rates if the ban on "third party, bad faith" lawsuits was adopted....

 Aviva Faces Shareholder Ire
Posted 12:00 AM Apr-27-2005
STANDARD Life wasn't the only big insurer to face angry shareholders yesterday, as blue-chip rival Aviva was hauled over the coals at its own annual general meeting in London. On a rainy morning in the City, the Norwich Union-parent faced a barrage of criticism on directors' pay, as well as its decision to outsource call centre jobs to India. Robert Muriel, a private shareholder, singled out new finance director Andrew Moss for particular abuse, as his luring from Lloyds of London had featured the award of over 100,000 shares - bringing his first year's pay close to GBP 1.5 million....

 Creating Citizens Was Wrong; Don't Give It Tax Windfall Now
Posted 12:00 AM Apr-27-2005
I disagree with The Post's editorial in favor of using an unexpected $2.2 billion in revenue for financing the state-owned insurance company, Citizens Property Insurance ("Use state's found money to renew state's insurer," April 21).In fact, the creation of this government-run insurance company served only the insurance industry. Policyholders don't have the option of seeking cheaper rates and are locked into their existing companies or are forced to insure through the government insurance company, Citizens....

 Chicago Tribune Jim Mateja Column
Posted 12:00 AM Apr-27-2005
Apr. 27--STUDY SAYS NAY TO HORSEPOWER MYTH: Contrary to popular belief, the higher the horsepower doesn't mean the more frequent the vehicle collisions. Though only 9 percent of all vehicles came with engines capable of developing more than 200 horsepower in 1990, 54 percent do today. "Higher horsepower cars tend to be involved in fewer accidents, but when they hit something, they do more damage," said Rick Crawley, product development general manager for Progressive Insurance, the nation's third-largest auto insurer....

 Auto Insurance Premiums Dropping According to Insurance.Com Report
Posted 12:00 AM Apr-26-2005
CLEVELAND, April 26 /PRNewswire/ -- Insurance.com, the largest online auto insurance agency in the United States, reports a decrease in auto insurance rate quotes ( http://www.insurance.com/auto.aspx ) depending on geographical region. The company's "2005 First Quarter Auto Insurance Pricing Report" shows a decrease in premiums by nearly 2 percent during the past quarter."This report highlights the impact of the competitive pricing pressures insurance carriers have been facing," said Lou Geremia, president of Insurance.com....

 Ex-Rockland Man Charged With Auto Insurance Fraud
Posted 12:00 AM Apr-26-2005
BOSTON - A former Rockland man is charged with allegedly paying to have his vehicle taken and damaged, and then reporting it stolen to collect the insurance money, Attorney General Tom Reilly announced. The attorney general's investigation found that Moreira allegedly paid an individual $500 to take the vehicle, damage it and make it appear as if it had been stolen so that he could collect on the insurance.Assistant Attorney General Kajal K. Chattopadhyay of the Insurance and Unemployment Fraud Division is prosecuting the case, which was investigated by the Insurance Fraud Bureau of Massachusetts and Investigator Mark Hannigan....

 OUR OPINION; Insurers Shouldn't Pay for Police
Posted 12:00 AM Apr-26-2005
The idea that Massachusetts drivers should pay more for auto insurance to pay for police training is ridiculous.The state's sky-high insurance rates have driven insurance companies away, and insurers make a good case that adding a surcharge will accelerate that trend rather than help reverse it.A proposal before the Legislature would require auto insurance companies to pay a 1/4 of 1 percent charge on their premiums into a fund to pay for police training....

 Driving Certificates Make Life Tougher ; Inability to Get Standard License Hinders High-Paid Foreign Nationals, Students
Posted 12:00 AM Apr-26-2005
Gov. Phil Bredesen pushed through a measure last year requiring that all foreign nationals and undocumented workers in Tennessee get a driving certificate rather than a driver's license.The catch is that the certificate, which is intended for legal but temporary workers, cannot be used for identification like a standard driver's license.The aim is to prevent terrorists or others from fraudulently obtaining legal identification in Tennessee, but the new system has created difficulties for foreigners on work or student visas -- including many executives, engineers and technology experts at Japanese companies, scientists at Oak Ridge National Laboratory and students and faculty at the University of Tennessee....

 AssuranceAmerica Corporation Announces Its Wholesale Subsidiary Now Writes Florida Policies
Posted 12:00 AM Apr-26-2005
Atlanta based ASSURANCEAMERICA CORPORATION (OCT BB: ASAM.OB), announced today its Managing General Agency (MGA) was approved to write auto coverages in Florida and is now actively putting Florida auto insurance policies on its books.We are pleased we can now place some of this business in a special niche we feel our own MGA can serve. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements...

 Consolidation and Growth Highlights Ups, Downs
Posted 12:00 AM Apr-25-2005
Jerry Semler remembers when more than 30 Indiana-domiciled companies made up the membership of the Association of Indiana Life Insurance Companies.Now the number stands at 11, according to the longtime leader of American United Life Insurance Co., now known as OneAmerica Financial Partners Inc.Steve Williams sees the same thing from his perch as president of the Insurance Institute of Indiana....

 The Best of York County, 2005: Best of Automotive
Posted 12:00 AM Apr-24-2005
York County has had a long love affair with its cars. Here are voters' choices for the best vehicle services in York County.Repeating second- and third-place finishes from last year are Auto Zone and Napa Auto Parts, respectively....

 Banks Getting Big in Insurance ; They're Buying Out Independent Agencies
Posted 12:00 AM Apr-24-2005
Banks nationally and in Western New York are gobbling up independent insurance agencies and building their own from scratch, in a bid to capitalize on another source of income while meeting a customer need.That's the case with Citigroup, Bank of America Corp., KeyCorp, Citizens Financial Group's Charter One Bank and HSBC Bank USA.Locally, First Niagara, M&T Bank Corp., and Evans have led the way, snapping up at least 19 insurance agencies between them from Buffalo to Albany since 1999....

 Internet Offers Cheaper Insurance
Posted 12:00 AM Apr-23-2005
The internet is offering the best deals on car insurance, according to an independent survey. Research firm Consumer Intelligence found that online car insurance quotes are on average 8.2 per cent cheaper than those obtained by telephone. Consumer Intelligence found that the average car insurance premium when purchasing online is pounds 404.98 compared with pounds 441.32 when bought over the telephone....

 Kansas Considers Changes in Tort Law
Posted 12:00 AM Apr-23-2005
Apr. 23--You're hurt in a car accident that's not your fault. Tort reform was a major issue in the Missouri General Assembly this year, with Republican lawmakers and Republican Gov. Matt Blunt working for a lower cap on pain-and-suffering damages and other limits on personal injury claims. Reforms meant to curb litigation and its costs to business met with reluctance this year in Kansas, a state that legal experts say already has tight limits on tort cases....

 State Shifts Part of Claims ; ISU Reviewing State-Ordered Car Insurance Fix
Posted 12:00 AM Apr-23-2005
SPRINGFIELD -- The Blagojevich administration's failure to budget enough money to pay insurance claims when state cars are involved in wrecks is now being felt by university officials.In a recent directive issued by the governor's budget office, universities were told they are now responsible for paying claims until the state's empty insurance fund is replenished later this year.The move is being reviewed by officials at Illinois State University, Normal....

 Lawmakers Boost State Health Care
Posted 12:00 AM Apr-23-2005
HELENA - Lawmakers have made health insurance more affordable to small businesses and prescription drugs cheaper for the elderly while providing poor children an opportunity to visit doctors and dentists.Expanding health insurance to the uninsured and making health care more accessible were key priorities for Democrats during the 2005 Legislative session, and it remains an important issue for Gov. Brian Schweitzer. Most of the cuts to the health care budget during the 2003 session were restored, said Jeff Busca, a state senior Medicaid policy analyst....

 Aetna Rolls Out 'Doughnut' Plan
Posted 12:00 AM Apr-22-2005
Aetna Inc. is getting into the doughnut business.Such plans sometimes are referred to as "doughnut" health plans because the deductible creates a hole between two levels of coverage.The idea has not caught on with other insurers serving Central Pennsylvania, but Aetna thinks its doughnut-style plan will find an audience, said Ralph Borzillo, vice president of sales with the insurer's small-group and individual business in the mid-Atlantic region....

 Bill Would Use Surcharges to Train Police
Posted 12:00 AM Apr-22-2005
BOSTON- State regulators and auto insurance companies doing business in Massachusetts are opposed to a legislative proposal that would impose $15 million in new surcharges on insurers to pay for police training. "The amount we commit to the tax revenue and additional assessments in the commonwealth of Massachusetts probably exceeds any other regulated industry," said James Harrington, executive director of the Massachusetts Insurance Federation. "Police protection is a public function, and it should be paid for by city and town taxpayers, not the insurance companies or people who buy insurance policies, for that matter," said Daniel Johnston, president of the Automobile Insurers Bureau of Massachusetts...

 Financial Diet Tip #1: Carve Up Your Expenses
Posted 12:00 AM Apr-22-2005
As if you have enough money that you need a running tally.Whatever you call it, do it, says Buie, of Financial Planning Group. They shouldn't.In a non-scientific survey the newspaper sent to 5,000 members of the Financial Planning Association (www.fpanet.org/public), the 260 who responded ranked ''sticking to a budget'' as the third-most-valuable step people can take to improve their financial lives, after ''establishing goals'' and ''paying yourself first.''The spontaneous purchases really hurt,'' says financial planner Alice Bullwinkle of North Star Financial Direction in Lakewood, Colo. ''People shop for fun, and they don't want to go home without something.''...

 Since When Did a Car Become a Birthright?
Posted 12:00 AM Apr-22-2005
I read the story in The Record about the kid whose parents gave him a $50,000 Audi for his good grades and then called Shotsie Gorman about his own first car. Gorman, a poet and tattoo artist in Wayne, is 53 and of a time when a terrific report card got you a pat on the back from Dad, a hug from Mom.In Cleveland in the mid-Sixties, when he was 18, Neal Borovitz got tired of deferring to an older brother for the use of the family car - when their parents weren't using it - and decided to get his own wheels....

 Cities Cool to Removing Cap on Car Insurance
Posted 12:00 AM Apr-22-2005
TRENTON - State officials said Thursday that caps removed from auto insurance rates in cities will not automatically increase costs for drivers and could help build a more competitive auto insurance market.John Dyke, chairman of the NJ Auto Agents Alliance Inc., which represents agents and consumers in the Garden State, said he expects drivers in urban centers will eventually be hit with steep increases."Removal of the caps is good for the market and a healthy market is good for everybody," Bryan said Thursday....