Auto Insurance News Archive for 2010

• Arizona to verify Auto Insurance

  by Jeanny Hopper
  

  Jan Brewer, Gov of Arizona has enforced a bill which aims at reducing the number of uninsured motorists. HB2224 states that a driver who has a three or more violations for not providing proof of insurance within a three year period will be required to submit proof of financial responsibility before the state restores the persons drivers license and license and registration plates are re-installed. According to Arizona law, the owner of a motor vehicle must be able to provide proof of financial responsibility; this evidence must be carried in the vehicle at all times. Failure to produce the evidence … (more) April 19, 2010

• Ulster Bank announces car insurance services

  by Jeanny Hopper
  

  April 2010 marked a new edge for Ulster Bank– one of Ireland’s largest banks as it recently announced that it diversified its market and will now begin to offer car insurance services to its clients. Working on the map to create the largest network of car insurance holdings, the bank announces its car insurance services as it opens to the Ireland public. Ulster Bank has 135 branches nationwide that are all set to put private motor coverage up on its market. It further expands its services, as it makes car insurance premiums and policies available over the telephone and online. … (more) April 18, 2010

• The rule of the Supreme Court of Massachusetts disappoints the MAIA President

  by Jeanny Hopper
  

  A law suit by the Arbella Mutual Insurance Co and the insurance agents of the state based on costs given to a new company and the policy related to the risk plan was approved by the Supreme Court of Massachusetts. This legal battle began in June of 2008, questioning the decision made by Commissioner Nonnie Burnes who added a process to help new insurance companies to assign high risks and the profile of individual agents who owned the rights to rework on this process. The state’s earlier auto insurance system gave private organizations levy to charge their customers, which was … (more) April 17, 2010

• A Bill that raises the Minimal Insurance Coverage drivers in Maryland must have on their insurance policies was passed by a second Senate Committee on Monday.

  by Jeanny Hopper
  

  Based on a survey conducted by the state Division of Insurance, it showed the benefits of the ‘managed competition auto insurance system’ for the last one year in Massachusetts show carriers added to individual agencies to nine auto insurance companies. The survey also shows a dip in drivers who are not insured and the market written policies. The average premium based on each automobile witnessed a dip in the year when it was part of managed competition. As for the reports from DOI, from the year 2006 to the year 2007 this dipped only to 5.2%. The state earlier had … (more) April 16, 2010

• Second Senate Committee Okays Minimum liability auto insurance bill

  by Jeanny Hopper
  

  A Bill that raises the Minimal Insurance Coverage drivers in Maryland must have on their insurance policies was passed by a second Senate Committee on Monday. The Judicial Proceedings Committee held hearings on the bill and it showed statements from victims of various accidents supportive of the change and opposed by people who advocate for the poor “We are seriously concerned about what this will do to the most vulnerable people in the state,” Job Opportunities Task Force’s Melissa Broome stated. 90 percent of drivers involved in automobile accidents are low income persons according to Frank Boston. The minimum coverage … (more) April 15, 2010

• Con Artist Finally Pleads Guilty

  by Jeanny Hopper
  

  As per the investigators of insurance fraud, Ana Keegan attempted to swindle the system repeatedly filing false claims for mishaps for which she received compensation. Ana Keegan, a woman aged 39 years who stayed at Haverhill previously, was caught red-handed from Seabrook. Keegan driver’s license was suspended for one year and she has to shell out $11,700 in return to many auto insurance companies since she pleaded guilty to two counts of larceny involving amounts in excess of $250, attempted larceny, insurance fraud and three counts of auto insurance scams in the Salem Superior Court. John T. Lu, the Judge, … (more) April 14, 2010

• Car damage claims set to rise in 2010

  by Jeanny Hopper
  

  Recent news foresees a high rise in insurance claims this year for car damages. This news, reported from various car insurance companies throughout the UK and United States in addition to local police reports, directs this anticipated dilemma to the increasing percentage of irresponsible car owners, young and inexperienced drivers, damage brought by natural disasters, deficient car insurance policies and premiums, and, non-car insurance coverage holders. Safety on the road is always number one for every car owner. Governments of UK and US have been growing concerns on road safety, thus their calls on safety measures instructed strictly in the … (more) April 13, 2010

• The Global Economy Meltdown and Car Insurance Companies

  by Jeanny Hopper
  

  Insurance companies have spoken and broadsheets have announced…no company is being wasted by the global economy meltdown. One by one, insurance companies lose one tire in the leg of the race in the competition to service delivery to every insurance holder in the country. Even the biggest was not spared. The most recent of reports announced State Farm—one of the biggest insurance corporations, was badly hit by the wave of critical dilemmas of the economic crisis. From investigation backed up by statements and reports from the company, 2008 was the biggest lost yet, with a sum total of USD 542 … (more) April 12, 2010

• ‘Pay By The Mile’ Pours Smiles Out Of Texans

  by Jeanny Hopper
  

  The recent launch of the new insurance program by milemeters that quotes ‘pay as you drive’ is being generously praised by funds of environment defense. This launch took place in Texas to provide the less mileage drivers, minimum premiums than the regular rates of insurance companies. This has brought a smile to the thousands of Texans who have been looking for some sort of relief in their auto insurance premiums. On October 15, Milemeter gave away this plan, to implement auto insurance that calculates premiums that are based on the miles driven by the person. The product was launched in … (more) April 11, 2010

• Insurance Fraud Busted

  by Jeanny Hopper
  

  Lying to his insurance company about vehicle damage to claim insurance did not do Louis Herman Watson any good last April 5, 2010. He was arrested for insurance fraud as he allegedly reported false facts to claim insurance money. His statements that were provided by police investigation brought in this truth as he declared damage and theft while his car was parked at the Ontario International Airport. This, according to the airport report files was a lie, for there was not a car named under him during the days that the offender claims. In the arrest of Watson last March … (more) April 10, 2010

• Client Letter Ranks One for the Trusted Insurance Company

  by Jeanny Hopper
  

  Client Letter of Top Down Systems Corporation has recently been chosen by New Jersey’s High Point Property and Casualty Insurance Company to aid in its document automation solution. Client Letter is innovative software that delivers to car insurance needs, focusing on document process and back-up systems. Working towards a goal of delivering to all client needs including letter correspondence to customer service through calls, this document automation software is said to give clients a more hassle-free customer care support from the insurance company. Clients of High Point Property and Casualty Insurance Company and its affiliates will now enjoy an easy-to-use … (more) April 9, 2010

• Auto insurance fraud sends 24 to jail

  by Jeanny Hopper
  

  In a shocking incident, about 24 people were accused of being insurance and other related frauds. This group had 17 residents from New York, 6 residents from New Jersey and one resident from Pennsylvania. General Tom Corbett, the attorney from Pennsylvania said that most of the accused said they belonged to Pennsylvania in order to get low rates on their auto insurances. People from out of the state, would claim to be from PV and produce wrong information to the transportation department to get licenses, and further, these details would be used to make insurance. These people came under the … (more) April 8, 2010

• More Effective Auto Insurance in 2010

  by Jeanny Hopper
  

  The percentage of uninsured drivers in the United States has come down to 13.5% from the earlier 14.9%* as a result of focused efforts made in the beginning of 2010. These positive results can be attributed to a concerted effort by various states to promote public safety across the country. This is certainly a welcome trend, considering that earlier legislative actions to bring down the number of uninsured motorists were relatively slow to show results. This trend, which has been mapped by the Insurance Research Council, takes into account the number of insurance claims filed by individuals, and calculates the … (more) April 7, 2010

• Michigan Auto Insurance Bills Left Undecided, Senate Takes Off!

  by Jeanny Hopper
  

  The senate of Michigan took off even without taking any sort of action just before Christmas when the bill package for casualty or property insurance was passed already by the house representatives. According to the package, the commissioner of insurance would get more power of authority along with other things. He would have more authority over strips and rate insurers of their capability to use credit points, levels of education and their other qualifications in fields of occupation in underwriting. Melvin Butch Hollowell, the state’s consumer advocate shows reports presented by the legislation of its recommendations in February. The supporters … (more) April 6, 2010

• CLCA shoots up, 788 applicants in ONE month!

  by Jeanny Hopper
  

  Steve Poizner, the commissioner for insurance in California pointed out that the program involved in low cost of auto insurance in California saw a remarkable increase in the number of applicants who had enrolled in it this February making this the highest number as compared to the previous years. This low cost program experienced a thrilling shoot up in the number of applicants touching 788 in just one month. Till date in 2010, the program has seen an increase of 30% in terms of its users more than it did around the same time last year. Last year, there was … (more) April 5, 2010

• Auto Insurance Assessment moves up north by 14% in Michigan

  by Jeanny Hopper
  

  Starting 1st July, 2010 till 30th June 2011, the cost of assessment by Michigan Catastrophic Claims Association for the insurance providers will cost $143.09 per vehicle insured by them. Last year the prices dropped by $18, but then increased by around $20 and currently, the assessment by the MCCA stands at $124.89. The no fault insurance law in Michigan states that the cost that might be incurred by the MCCA during the course of the coverage period should be covered by the premium for the policy. All or some of the deficits incurred by the MCCA also needs to be … (more) April 4, 2010

• Increasing Medical Costs down the Popularity of No-Fault Auto Insurance

  by Jeanny Hopper
  

  A couple of years ago almost every other person who was eligible for the no-fault auto insurance policy was looking out to buy one in order to keep the premiums minimal and reduce court fees. However, today, the no-fault auto insurance has no takers since it failed to live up to its goals and policy guidelines. The no-fault insurance came into being in order to provide low cost car insurance to consumers by reducing the court fees. However, this backfired since the cost of the medical bills rose, thanks to this policy. James Anderson, a researcher and lead author of … (more) April 3, 2010