State Farm to Issue Refunds
Wednesday, April 18, 2007
About 18,000 of State Farm's auto insurance customers in Louisiana will be getting checks of more than $1,000 in June as the result of accidental overcharges between 2003 and 2006, a company spokesman said Monday.In 2003, State Farm adjusted rates nationwide for auto insurance and adapted its plan to each state, spokesman Morris Anderson said. State Farm inadvertently included a rating factor - accidents where the customer was not at fault - that is not allowed under Louisiana law and in two or three other states....
Redlining's End a Pinch for Some
Wednesday, April 18, 2007
I gagged on my coffee Wednesday morning as I scanned the pile of bills I had been ignoring. My auto insurance carrier, Woodland Hills- based 21st Century, had sent the usual biannual renewal notice. And chances are I'm not the only one choking in surprise this month over whopping auto insurance bills....
Price-Focused Insurers Brave Reprimand From FSA
Tuesday, April 17, 2007
The majority of UK insurance firmsare main tain ing their price- led advertising, despite the threat of a crackdown by the Financial Services Authority (FSA).Last week the FSA warned that companies could face regulatory action unless they stop using savings claims that could be misleading. They can also be unclear if the basis of the savings claim is not clearly set out.'...
EDITORIAL: No-Fault Needs a Fix
Monday, April 16, 2007
Apr. 15--A 2004 Michigan Supreme Court ruling known as the Kreiner decision has prevented some motorists from collecting non-economic damages from drivers who caused their injuries. The state House has passed a bill, introduced by Rep. Paul Condino, D-Southfield, that would effectively undo the ruling. That said, politicians must honestly acknowledge the costs involved....
Your Money: Pound Notes
Sunday, April 15, 2007
WE'RE WITH PAT pounds THE soap character most Britons identify financially with is Pat Butcher from East-Enders, claims Credit- Expert.co.uk. Only around one in 10 of us think we are as financially astute as Ian Beale - another character in the show....
Infinity Property and Casualty to Announce First Quarter Results
Saturday, April 14, 2007
Birmingham, Ala., April 10 /PRNewswire-FirstCall/ -- Infinity Property and Casualty Corporation expects to release its first quarter 2007 results on Wednesday, May 2, 2007 before the market opens. The earnings release will be available shortly thereafter on Infinity's website at http://www.ipacc.com/.In connection with its earnings release, Infinity will hold a conference call to discuss the first quarter results on Wednesday, May 2, 2007 at 9:00 am ET....
ATERAS Awarded New Conversion After Successfully Completing Migration of Progressive Insurance's IDMS ADS/Online to DB2 CICS COBOL
Saturday, April 14, 2007
DALLAS, April 10 /PRNewswire/ -- ATERAS announced today that they have been selected by Progressive Casualty Insurance Company for the Policy Number Expansion Project, using DB-Shuttle(TM) Enterprise Change capabilities. This project follows the successful ATERAS migration of Progressive's IDMS CORE Claims System to a CICS COBOL DB2 environment, retiring IDMS and ADS/Online completely.ATERAS will use its DB-Shuttle Enterprise Change technology to perform the Policy Number Expansion....
2 Insurers Offer Discounts to Drivers of Hybrids
Saturday, April 14, 2007
Inc. and Farmers Insurance Group of Cos. both offer such discounts on at least a limited basis in Ohio and Michigan. Preliminary research at Travelers indicated hybrid owners tend to be lower-risk drivers, according to the company....
comScore Reports 58 Percent Annual Growth in Auto Insurance Policies Purchased Online in 2006
Saturday, April 14, 2007
RESTON, Va., April 12 /PRNewswire/ -- comScore, Inc., a leader in measuring the digital world, today released the results of a study of online auto insurance activity, which revealed that 2006 represented a tipping point in the adoption of the Internet for auto insurance purchases. The Internet channel has been critical in supporting insurance research during the past few years, with price-conscious consumers submitting more than 70 million auto insurance online rate quotes from 2004 to 2006. The comScore analysis showed that in 2006, auto insurance policies purchased online increased 58 percent versus the previous year, while the total number of auto insurance quotes submitted online increased 15 percent....
GEICO Makes a Splash With Monster Marketing and Partnership With AMF Offshore Powerboat Racing Team
Saturday, April 14, 2007
WASHINGTON, April 12 /PRNewswire/ -- Friday morning, GEICO, the fastest- growing U.S. auto insurer, is set to introduce the newest member of its lively racing family, "Miss GEICO," a raging phenomenon with bold tactics to match the team she represents -- AMF Offshore Racing, LLC. "This lady is the epitome of all that's perfect about this partnership," said John Haggin, owner of the AMF Offshore team. "She's innovative, inviting and ready for action, a true reflection of our fan base and GEICO's target boating audience."...
Insurance.Com Announces Move to Larger Local Facility
Saturday, April 14, 2007
Insurance.com, the largest online auto insurance agency in the United States, has signed a lease to occupy the former Nestle building located at 29000 Aurora Road, Solon Ohio 44139. Plans call for converting the existing 111,493 square feet office/warehouse space into a high-tech work environment that will include state-of-the-art conference rooms, wireless internet access, on-site exercise facility and advanced office space for Insurance.com's 250 employees.Christopher Semarjian, Managing Member of Aurora Commerce LLC is the owner/developer of the project for Insurance.com's new headquarters facility....
Huge Rise in Parking Costs ; Home News IN BRIEF
Friday, April 13, 2007
Car parking charges have soared by an average of 25 per cent in the last six years. Some, including those in Hertfordshire and Kent, have risen by 90 per cent since 2000, according to the car insurer Direct Line. Londoners fork out the most to park, with Westminster charging [pound]7.99 for two hours' parking....
Rental Dilemma: No Easy Answer on Temporary Car Insurance
Friday, April 13, 2007
Apr. 11--On the list of questions that property and casualty insurance agents are asked all the time, one just about always lands near the top. The question is a good one, according to veteran insurance agent Ron Sunderman of Skogman Carlson Insurance in Cedar Rapids, and the answer used to be simple. If the policyholder had comprehensive and collision on their auto insurance policy and a gold Visa or Mastercard, there was rarely any cause for concern....
Insurance.Com Wins ACG Cleveland Deal Maker Award
Friday, April 13, 2007
Insurance.com, the largest online auto insurance agency in the United States, was recently the recipient of an Association for Corporate Growth's (ACG) 2007 Deal Maker Award.As a recipient of the ACG Cleveland 2007 Deal Maker Award, Insurance.com joins past honorees such as Eaton Corporation, Parker Hannifin, STERIS, and other well-known Ohio companies."The Deal Maker Awards honor corporate and individual deal makers who have contributed inspiration, vision and creativity in completing acquisitions, joint ventures, financing and divestiture transactions," explained Tom Freeman, a partner with Grant Thornton and a member of the awards selection committee....
Investing in New Suit
Friday, April 13, 2007
Menswear retailer Moss Bros backed its store refurbishment plans today after after seeing a further sales fall. Sales in the first 10 weeks of the current year were down 1%. However, the company said that it had seen an improvement in profit margins following increased investment in its IT systems, supply chain and store portfolio....
The World: Insurance Costs Drop
Friday, April 13, 2007
The typical motorist saw the cost of car insurance fall slightly in the first months of this year after a record high recorded at the end of 2006, figures have revealed. The AA Insurance Premium Index showed the average quoted premium for an annual comprehensive car insurance policy in the first quarter of 2007 was pounds 802, just pounds 4 less than the all- time high.(c) 2007 Evening Mail; Birmingham (UK)....
Tanous Leaves Buffalo Law Firm for Position With Erie Insurance
Thursday, April 12, 2007
Erie Insurance Group on Tuesday named the chairman of Buffalo law firm Jaeckle Fleischmann & Mugel LLP as its new general counsel.Tanous, who will relocate to Erie, will start at the insurer on April 30.At Jaeckle, Tanous will be succeeded as chairman of the firm's executive committee by managing partner Edward G. Piwowarczyk, who will now have both titles....
Supermarket Sweep ; (1)Moneymail(2)How Can You Get the Best Value Insurance? From Your Car to Your Pets, We Compare Policies From the Big Four Supermarkets
Thursday, April 12, 2007
SUPERMARKETS have been selling insurance and loans alongside sausages and beans for the past decade. Here ROSANNA SPERO trawls the aisles for the best deals. Peugeot: Pounds 279.53 Vauxhall: Pounds 252.92 Sainsbury's Bank: Offers a courtesy car as standard, along with cover for personal belongings and up to Pounds 200 worth of Sainsbury's shopping....
RECORD Money: THE Typical Motorist
Thursday, April 12, 2007
THE typical motorist saw the cost of car insurance fall in the first months of this year - after a record high at the end of 2006. The AA Insurance Premium Index showed the average quoted premium for an annual comprehensive policy in the first quarter of2007 was pounds 802. It follows a 4.35 per cent hike in the last quarter of 2006, which saw premiums reach nearly pounds 806 per year....
Quality Planning Corporation Expands Sales Force
Thursday, April 12, 2007
Quality Planning Corporation (QPC), the Rating Integrity Solutions Company, announced the appointment of two sales executives as the company continues to see increased demand for its data analytics services. Michael T. West joins QPC as director of strategic accounts, located in QPC's San Francisco headquarters; Michael G. (Gerry) Kolb joins as regional sales executive, and will be based in Norcross, Georgia. West will spearhead QPC's sales and business activities in the North East region, including direct responsibility for the numerous auto insurance companies in that region....
Calais Hospital to Offer 55 Alive Drivers Course
Wednesday, April 11, 2007
CALAIS - Calais Regional Hospital will offer 55 Alive, a refresher course for drivers age 50 or older, 8 a.m.-noon Thursday, May 3, and Friday May 4.The program was developed by the American Association of Retired Persons. It covers age-related physical changes, rules of the road, license renewal requirements and other issues....
Maryland Appellate Court Upholds Exclusion to Business Auto Insurance Policy
Tuesday, April 10, 2007
A business-auto insurance policy's exclusion for vehicles owned by the insured's employees was not ambiguous or prohibited by law, the Court of Special Appeals has held.The decision is a win for Continental Casualty Co., which had been ordered to pay $140,000 under its policy insuring Jani-King International Inc., for any vehicles it owned, hired or had borrowed. Despite that broad insuring clause, the appellate court held that the policy clearly excluded employees driving their own cars, even while on company business....
AIG Auto Insurance Launches GPS Based Teen Driver Pilot Program
Tuesday, April 10, 2007
AIG Auto Insurance today announced the AIG Teen GPS Program for auto insurance policyholders with teen drivers. The program will initially be piloted in Arizona, Illinois, New Jersey, Pennsylvania, South Carolina and Washington, and uses GPS technology to allow parents of teen drivers to monitor the location of the teen's car and driving.After installing a small GPS unit, which is easily set up in 20 minutes, parents can instantly determine the exact location of the teen's car via the Web or any phone....
EDITORIAL: When Bias Results, Review the Input: OUR OPINION: CHALLENGE INSURERS' USE OF JOBS, EDUCATION FOR RATES
Monday, April 09, 2007
Apr. 9--If a mechanic and a lawyer are the same age, have similar driving records and drive the same kind of car, they should pay roughly the same amount for auto insurance, right? A report by the Florida Office of Insurance Regulation says that some auto insurers use education and occupation as factors for determining rates, and that the result can be wildly different premiums for people with similar driving experiences. The insurance commissioner's report focused on the activities of three auto insurers in Florida, GEICO, Liberty Mutual and AIG....
Driving Us All to Distraction
Saturday, April 07, 2007
Apr. 3--Billboards scream out savings to passing vehicles. Even New Jersey's most selective auto insurer is asking policyholders to beware of talking reptiles offering better rates. Now insurance companies are actively courting New Jersey motorists in lively competition for their business....