Archive for August 2009

Life Insurance Sales Slump Eases

Aug 31st, 2009 | Category: Insurance Today

Annualized life insurance premium sales fell 23% in the first half of the year, the steepest slump in 67 years, but the rate of decline in the second quarter slowed from the quarter before, an industry association said Monday. Life insurers have been battered the past year by billions of dollars in investment losses and […]

Insurance department sees increase in suspected auto insurance fraud

Aug 26th, 2009 | Category: Insurance Today

California. The number of suspected fraudulent cases of auto arson and theft has increased during the recession, state Insurance Commissioner Steve Poizner said Wednesday. The California Department of Insurance received 31 percent more referrals for suspected vehicle arson fraud cases last year than in 2007, a news release said. The total increased to 451 cases […]

How to get cut-rate car insurance rates

Aug 25th, 2009 | Category: Insurance Today

Shoppers can save on policies by comparing costs, managing coverage, finding discounts With money tight these days, the good news is that annual auto insurance rates are currently the lowest they’ve been in more than a year, averaging $1,871 according to the Web site Even better news is that many motorists can cut their […]

Pennsylvania Insurance Department Urges Parents To Consider Coverage Needs Before College Starts

Aug 21st, 2009 | Category: Insurance Today

As college classes are set to begin, Pennsylvania Insurance Commissioner Joel Ario reminded parents to consider their family’s changing insurance needs. “Hundreds of thousands of young Pennsylvanians will be heading to college in the next few weeks,” Commissioner Ario reported. “It can be a hectic and emotional time, but in the rush to begin the […]

Insurance estimates begin after Ontario tornados

Aug 21st, 2009 | Category: Insurance Today

(Reuters) – Insurers began to assess the damage on Friday after massive storms, including tornadoes, hit southern Ontario late on Thursday, killing one person and destroying homes, businesses and cars. “At this point it is still too early to say how many of our policy holders are affected. What I can say is that it […]

Imagine a ‘Right’ to Car Insurance

Aug 20th, 2009 | Category: Insurance Today

The major impetus behind health care reform is not economic – it is moral. The claim that health care is a moral right has motivated enormous government coercions against the medical industry. But this moral claim has blinded people to the fact that huge price increases have necessarily followed the growth of the coercions.

Massachusetts Interlocal Insurance Association distributes $10.6 million in worker compensation, property casualty rebates to municipalities

Aug 11th, 2009 | Category: Insurance Today

SPRINGFIELD. The Massachusetts Interlocal Insurance Association is distributing $10.6 million in rebates to cities and towns that buy their workers compensation and property casualty insurance through the association.

AIG’s Greenberg pays $15 M to settle charges

Aug 7th, 2009 | Category: Insurance Today

(Reuters) – AIG’s former Chief Executive Hank Greenberg agreed to pay $15 million to settle government allegations that he had cooked the books to inflate the insurer’s earnings in the first half of this decade, the Securities and Exchange Commission said on Thursday. Howard Smith, American International Group Inc.’s former chief financial officer, also agreed […]

Regulators recover $13.6 million from insurance companies

Aug 7th, 2009 | Category: Insurance Today

(BuffaloNews) – State insurance regulators recovered $13.6 million from insurance companies between April 1 and June 30 for almost 3,000 consumers and health care providers who complained to the state Insurance Department. That’s up 60 percent from $8.5 million recovered in the first quarter, for a total of $22 million for the first six months.

Progressive motorcycle insurance ‘Corn for Kids’ program at Sturgis

Aug 6th, 2009 | Category: Insurance Today

Progressive Insurance, the number one insurer of motorcycles in the United States, is a presence at the Sturgis Rally. Offering information about motorcycle insurance and selling roasted corn, Progressive hopes to not only gain customers but to also make a difference.