[ Big Picture ]
Wednesday, March 07, 2007
State Farm offers $60 million boostBLOOMINGTON - State Farm Mutual Automobile Insurance Co. said Thursday its auto insurance policyholders in Illinois will receive dividends totaling $60 million. Although the amounts will vary, the average dividend per vehicle in Illinois is $25....
[ Local Focus ]
Wednesday, March 07, 2007
Methode stock soars on strong earningsCHICAGO - Methode Electronics Inc.' s stock skyrocketed in Friday trading on the Nasdaq after it said fiscal 2007 third quarter profit surged 67 percent. Zurich says U.S. unit to buy car insurer...
Senators Rebuff Auto Insurance Criteria Change ; Foes Say Plan Would Increase Rates
Wednesday, March 07, 2007
TRENTON A bid to make it illegal for New Jersey auto insurers to use a driver's job and education to decide rates failed Monday.The Senate Commerce Committee voted against releasing a proposal to ban car insurers from weighing such factors."Competition is working for consumers and it will continue to work if reforms are allowed to progress," said Hank Nayden, a Geico vice president....
Dividend Surprise is on the Cards for HSBC Investors
Tuesday, March 06, 2007
The London market's fragile confidence will be tested this week as another clutch of major companies are due to post results. HSBC will be the last of the 'big five' banks to post results this week, with analysts expecting the company to add pounds 11.56bn in profits to pounds 25bn-plus already posted by Barclays, HBOS, Lloyds TSB and Royal Bank of Scotland over the past fortnight. Citigroup analyst Simon Samuels said, that the firm's Hong Kong and Asia Pacific divisions, which account for more than a third of group profits, could help to offset the deterioration in the US....
DriveFit Premium Separates Safe From Dangerous Drivers Through Online Risk- Assessment and Cognitive Training Program
Tuesday, March 06, 2007
YOQNEAM, Israel, March 5 /PRNewswire/ -- CogniFit, Ltd. (http://www.cognifit.com/), a leader in assessing and training cognitive skills, is introducing its award-winning risk assessment tool designed for auto insurers -- DriveFit Premium(TM) -- to the North American market."DriveFit Premium helps create a unique 'picture' of each policyholder's risk level beyond that of demographic data traditionally used to determine premiums," said Ed Corbally, director of risk & safety services at CEI, a provider of direct repair program outsourcing to property and casualty companies and driver risk management services. "DriveFit Premium gives insurers a new resource to reduce physical damage payouts and also provides them the option to reward high-scoring drivers with lower premiums."...
State Farm Auto Policyholders to Get Dividends
Tuesday, March 06, 2007
State Farm Mutual Automobile Insurance Co. announced Thursday that its policyholders in Oklahoma will receive dividends totaling $21.4 million. State Farm vehicle policyholders in 46 states, the District of Columbia and the Canadian province of New Brunswick will receive a total of $1.25 billion in the company's latest policyholder dividend declaration, approved by the State Farm Mutual board of directors. Although the amounts will vary significantly, the average dividend per vehicle in Oklahoma is $38....
Biz People: Suncorp Chief to Pick Executives
Tuesday, March 06, 2007
John Mulcahy (above), chief executive officer of Suncorp-Metway Ltd, will choose an executive team and proceed with a share sale after Promina Group Ltd investors yesterday approved a A$7.5 billion ($5.9 billion) takeover bid. Promina shareholders voted in favor of the offer at a meeting in Sydney. Mulcahy is buying Promina, the nation's second-largest car and home insurer before the takeover, to add brands including auto insurer AAMI to help revive sales, which slowed last year....
Fraud Charges Brought
Tuesday, March 06, 2007
A Newhall man could face up to five years in state prison and $50,000 in fines for asking the wrong guy to steal his truck, the state's insurance commissioner said Friday.Eric Joseph Horvat, 28, was arrested Feb. 23 by investigators with the state Department of Insurance fraud division on suspicion of staging the theft of his 2006 Ford F-150 truck in a scheme to defraud his auto insurance carrier of $45,000, Commissioner Steve Poizner said.Horvat was charged with two felonies -- insurance fraud and perjury after a police report revealed that Horvat offered $3,000 to an undercover officer to steal his car....
State Farm Announces Dividends
Tuesday, March 06, 2007
The 2006 North Dakota Tourism print campaign received both a Judge's Choice and a Gold ADDY Award at the annual awards banquet sponsored by the Bismarck-Mandan Advertising Federation on Feb. 17. Silver ADDYs were presented for the 2007 official state map and for a Minneapolis event invitation.All three projects were done as a joint creative effort with Odney Advertising....
Seat-Belt Statement Wrong
Monday, March 05, 2007
John LaMonte stated that Utah's secondary seat-belt law results in higher auto insurance rates than if we had a primary seat-belt law (Readers' Forum, Feb. 28). According to insure.com's list of average auto insurance rates by state and the 2004 list of states with primary, secondary or no seat- belt laws, the average auto insurance cost for states with primary seat-belt laws is $822.69; the cost for states with secondary seat- belt laws is $741.24; the cost for New Hampshire with no seat-belt law is $713.15.It appears that while sounding reasonable on the surface, Mr. LaMonte's argument doesn't hold water against even a cursory examination of empirical evidence....
The State Legislature is Set to Consider Numerous Bills to Address Consumer Issues: Lawmakers, Insurers and Healthcare Providers Are at Odds Over the Fate of the State's Controversial No-Fault Auto Insurance Law, Which is Set to Expire
Monday, March 05, 2007
Mar. 4--State legislators are at a crossroad: Fix the problems with Florida's no-fault auto insurance system -- or move on and come up with new solutions. The no-fault law, which is set to expire Oct. 1, requires all drivers to buy at least $10,000 in personal injury protection, or PIP, which guarantees medical, disability and death benefits. Yet, accident-related suits continue to multiply and the law's provisions breed fraud, which adds to the cost of auto insurance for drivers in the state....
Bill Would Crack Down on Unlicensed Drivers
Monday, March 05, 2007
REVIEW-JOURNAL CAPITAL BUREAUCARSON CITY - A Las Vegas assemblywoman introduced a bill Friday that would require police to impound cars of motorists they stop who do not have driver's licenses.Assemblywoman Ellen Koivisto, a Democrat, said she introduced Assembly Bill 240 because some of her constituents complained they had been involved in accidents with unlicensed motorists without auto insurance....
Your Money: Pound Notes ; TREASURE HUNTERS
Sunday, March 04, 2007
pounds ONE in 10 first-time home buyers expect parents to help them financially compared to one in five six months ago, say Abbey. pounds NORWICH & Peterborough BS have launched new 15-and 20- year fixed-rate mortgages. The 15-year deal is 5.48 per cent until April 30, 2022, and the 20-year one is 5.28 per cent until April 30, 2027....
Farmers Group Agrees to Buy Bristol West Holdings: Shares of Insurance Firm Bristol West Holdings Jumped 36 Percent After Los Angeles-Based Farmers Group Agreed to Buy the Davie Company
Sunday, March 04, 2007
Mar. 3--Davie-based auto insurance firm Bristol West Holdings has agreed to be acquired by Zurich Financial Services Group's Farmers Group in a deal valued at $712 million. Farmers also will assume some debt. Bristol specializes in writing coverage for drivers with checkered driving records and limited financial resources -- known as nonstandard auto insurance....
Near-Record Bids for Ping An's Shanghai Debut BUSINESS ASIA By Bloomberg
Saturday, March 03, 2007
Shares of Ping An Insurance (Group) jumped 38 percent on their debut in Shanghai Thursday, bucking a slump in Chinese equities after the world's biggest stock sale by an insurer drew near-record bids from investors.Ping An's surge reflects demand for stock of Hong Kong-traded Chinese companies among mainland investors, who are banned from buying overseas equities. Yuan shares in China Life Insurance, the only other domestically listed insurer, more than doubled when they made their debut in January and are trading 70 percent above its Hong Kong stock....
Suits Filed Over GM Speedometers
Saturday, March 03, 2007
Mar. 2--Kevin Zwicker knew something was wrong when the speedometer on his 2004 Chevy Suburban indicated he was going 10 mph, even though he was driving at or near the speed limit on Interstate 5. Zwicker's speedometer failed completely in April 2006. But now Zwicker, who lives in Snohomish, is the lead plaintiff in a federal lawsuit seeking damages on behalf of potentially thousands of people....
Zurich Subsidiary to Acquire Bristol West Holdings
Saturday, March 03, 2007
Zurich Financial Services subsidiary Farmers Group has entered into an agreement to acquire 100% of the equity of US-based non-standard automotive insurer Bristol West Holdings.As part of the takeover, Farmers Group (FGI) will immediately sell the underlying insurance business to the Farmers Exchanges, which FGI manages but does not own.Under the terms of the agreements, the holders of BRW common stock have been offered $22.50 per share in cash for their shares....
Dave Roush of Insurance.Com to Speak at Thomas Weisel Partners Internet & Digital Media Conference
Saturday, March 03, 2007
Insurance.com, the nation's leading online auto insurance agency, today announced that Dave Roush, CEO, will speak at Thomas Weisel Partners Internet & Digital Media Conference on Wednesday, March 7, 2007 at 1:30 P.M. Pacific Time at the Four Seasons Hotel in San Francisco, California. Mr. Roush will present an overview of Insurance.com, the auto insurance market, and the way Insurance.com operates within the marketplace, outlining the unique comparison shopping model the company offers consumers.We're looking forward to illustrating the strength and effectiveness of the Insurance.com model, and how it truly empowers consumers by bringing leading auto insurance companies together to compete for the consumer's business," reported Roush....
State Farm Dividends Will Total $7.7 Million in Idaho
Saturday, March 03, 2007
Mar. 2--State Farm Mutual Automobile Insurance Co., the largest automobile insurer in the nation, said Thursday that its policyholders in Idaho will receive dividends totaling $7.7 million. State Farm policyholders in 46 states, the District of Columbia and the Canadian province of New Brunswick will receive $1.25 billion in the company's latest policyholder dividend declaration, approved by the State Farm Mutual board of directors. Idaho policyholders will receive 16.5 percent of their semi-annual premium....
Herald-Times, Bloomington, Ind., Business Briefs Column
Saturday, March 03, 2007
Mar. 2--BIOCOVERGENCE ADDS ITS 21ST EMPLOYEE: Bloomington-based BioConvergence, a contract solutions provider to the biotech and pharmaceutical industries, has a new employee. That brings total employment at the business, which formed in 2005, to 21. STATE FARM INSURANCE BUYERS TO GET DIVIDENDS: State Farm Mutual Automobile Insurance Co. has announced its auto insurance policyholders in Indiana will receive dividends totaling $41.9 million....
State Farm Announces Insurance Dividend Payments
Saturday, March 03, 2007
Mar. 2--State Farm Mutual Automobile Insurance Co. announced Thursday it will send Colorado auto policy holders a total of $19.1 million in dividends. Policyholders in 46 states, the District of Columbia and New Brunswick in Canada, will receive a total of $1.25 billion, the company said Thursday. The company's overall rates in Colorado are now 35.9 percent lower than they were before the repeal of the no-fault law in July 2003....
Auto Policyholders to Receive Refunds
Saturday, March 03, 2007
BLOOMINGTON - State Farm Insurance Cos. auto policyholders will receive a refund for the first time in seven years. While reporting a $5.32 billion profit Thursday, State Farm said it will pay a record $1.25 billion in dividends to auto customers in the United States and New Brunswick, Canada....
GEICO Names John McCutcheon Vice President
Friday, March 02, 2007
GEICO recently named John McCutcheon of Germantown, Md., vice president of Government Employees Insurance Company (GEICO), with responsibility for underwriting and product management at the company's headquarters in Chevy Chase, Md. He succeeds Dave Pushman, vice president, who plans to retire this year.McCutcheon previously served as assistant vice president of marketing. Since 2002, he was responsible for GEICO's market research, planning, database marketing, partnership marketing and retention marketing, in addition to being involved in the creative messaging....
Insurance.Com Purchases 4insurance.Com
Friday, March 02, 2007
Insurance.com today announced the purchase of 4insurance.com, one of the original insurance sites on the internet.As the country's largest online auto insurance agency, Insurance.com's customers report they save on average $451 per year on their car insurance.Insurance.com, based in Solon, Ohio, is owned and operated by Insurance.com, Inc., a ComparisonMarket Company....
State Farm(R) Announces $62 Million Georgia Auto Policyholder Dividend
Friday, March 02, 2007
DULUTH, Ga., March 1 /PRNewswire/ -- State Farm Mutual Automobile Insurance Company, the largest insurer of autos in Georgia and in the nation, announced today its auto insurance policyholders in Georgia will receive dividends totaling $62 million.State Farm Mutual policyholders in 46 states, the District of Columbia and the Canadian province of New Brunswick will receive a total of $1.25 billion in the company's latest policyholder dividend declaration, approved by the State Farm Mutual board of directors.Georgia policyholders will receive 11.2 percent of their semi-annual premium....