Auto Insurance News Archive for August, 2011

• Major changes likely in PIP laws in NJ

  by Richard Burton
  

  The Department of Banking and Insurance (DOBI) in NJ is looking at ways to revise the PIP laws in the states less than 2 years after the previous reforms made their exit. During the end of 2009, the Supreme Court had affirmed the decision made by the Superior Court’s Appellate Division in the state, that the auto insurance department’s latest PIP medical fee schedule was not arbitrary as doctors had earlier challenged. New Jersey has witnessed a lot of battles over fee schedules in the past and now again, based on the new information gathered by DOBI with regard to … (more) August 14, 2011

• Hartford’s AARP insurance program will now be available through BB&T oswald trippe and company insurance services

  by Richard Burton
  

  Now, The Harford Financial services Group has made an announcement that it would make its award-winning AARP auto insurance program available via BB&T Oswald Trippe and Company Insurance Services in Southern as well as Central Florida. BB&T Oswald Trippe and Company Insurance Services were finally chosen after they managed to satisfy a series of eligibility requirements that included showing immense commitment to community service, having a high level of business ethics and standards, and being able to successfully complete a training program that has been designed to highlight the needs of those who are in the 50+ age group. Tom … (more) August 13, 2011

• Due to rise in injury claims, auto insurance rates are steady

  by Richard Burton
  

  Due to the rise in injury insurance claims, Alberta auto insurance rates will remain steady for the next year. There was a drop in rates by 5% in the last two years as there was a decline in the number of insurance injury claims, stated Del Dyck, Executive Director, from Automobile Insurance Rate Board that conducts the annual rate review. Since 2003, the frequency of the bodily injury claims have been decreasing, not just in Alberta, but all across Canada as well, stated Dyck. However, they did see quite a significant change during 2010, when there was an increase of … (more) August 12, 2011

• Automobile accident victims can get full value of medical treatment – court ruling applauded by lawyer Patrick J. Tighe

  by Richard Burton
  

  Now, customers can rejoice with the latest court ruling that plaintiffs who are injured in auto accidents can introduce bills for the full value of treatment they have received. This comes as a major victory and has been hailed by Florida Insurance lawyer Patrick J. Tighe (Fourth district, Case Number – 4D09-1659). This had earlier become a contentious point of law to many. Tighe stated that the major insurers such as Allstate, Progressive, Geico, and State Farm may not like the ruling, but for all the others it is a moment to rejoice. Tighe is a senior advocate for accident … (more) August 11, 2011

• Auto insurance rates on the rise in NJ again

  by Richard Burton
  

  Auto insurance rates in NJ are steadily rising again, after years of steadily declining rates. To add to that the Christie administration is now proposing fresh rules that would put restrictions on the type of medical care that would be offered to injured motorists, under their policy cover. The new rules that have now been proposed could reignite the raging debate over car insurance, an issue that has dominated NJ for years, as enraged motorists had regularly opposed the new rates stating that they were among the highest in the nation. Now, the old fight over who rules in case … (more) August 10, 2011

• Auto insurance rates in florida rises steadily

  by Richard Burton
  

  All the four auto insurance majors have been battling for supremacy – including Geico, Progressive, Allstate, and State Farm. These are the biggest auto insurance firms in Florida and are competing with one another to get maximum business. They have been making irresistible offers and each one is promising better rates than the others and this might make you think that auto insurance is getting more affordable – but you might be wrong. On the contrary, auto rates are high in Florida. Although this is one state where it has always been high, it continues to rise steadily with twice-a-year … (more) August 9, 2011

• Allstate announces second quarter loss of $620 million

  by Richard Burton
  

  Allstate Corp has been hit by a loss of $620 million in the second quarter and it has been the worst hit for the company since the catastrophe claims made during Hurricane Katrina when it struck the Gulf Coast during 2005. The devastating tornadoes that had hit across South and Midwest also cost about $2.34 billion, which was in tune with the predictions made by Allstate to its shareholders, according to WSJ reports. The operating loss excluding some investment results was at $1.23 a share and beat the Wall Street expectations of a steeper loss of 33 cents. Tornadoes seem … (more) August 8, 2011

• Steady rise in auto insurance rates in Florida

  by Richard Burton
  

  There is a stiff competition in the auto insurance industry in Florida. Some of the major companies such as Geico, State Farm, Progressive, and Allstate have been marketing their products quite aggressively and promising some of the best deals ever. This might even make you think that auto insurance is getting cheaper by the day, but that is not true. In fact, auto insurance rates are rising steadily. Florida is one of the most expensive states when it comes to auto insurance. Despite the fact that it already has a high national average, the rates are hiked twice a year … (more) August 7, 2011

• Rise in catastrophe claims – Allstate claims loss

  by Richard Burton

  Allstate Corp. has claimed a loss of $620 million in the second-quarter. This is the worst quarter for Allstate and the losses have mounted due to a sharp rise in catastrophe claims ever since Hurricane Katrina hit the Gulf Coast during 2005. Around $2.34 billion has been contributed towards the damages caused due to the devastating tornadoes that hit the Midwest and the South. Allstate had earlier issued a warning to its shareholders with regard to these estimated losses. These tornadoes have proven to be very costly for the entire insurance industry, but Allstate being the largest publicly traded insurance … (more) August 6, 2011

• Auto insurance rates for the month of august, deductible costs, and nationwide premiums

  by Richard Burton
  

  Auto insurance rates will vary depending on the insurers as well as the individual who wishes to obtain insurance. Most of the motorists will obviously choose auto insurance companies that provide some of the most affordable rates, but the rates can fluctuate to a very large extent depending on some criteria. The criteria may include some of the state regulations or risk factors. There are number of components such as the driver’s age, the vehicle, driving history, credit scores etc. Although not all auto insurance providers use the credit scores to gauge the risk factors, there are many who do … (more) August 5, 2011

• Approximately one in seven drivers are uninsured, states report

  by Richard Burton
  

  Summer is that time of the year when people tend to go on long motorbike rides and road trips. Even the number of trips to the swimming pools and playgrounds is at its maximum. Hence, every motorist is more exposed to the dangers on the roads. Although, the chances of being involved in an auto accident during such trips may not be very common, but every motorist is likely to be involved in maybe one car accident at least during their lifetime. The pertinent question that would arise is – what would happen if either parties or one of them … (more) August 4, 2011

• AARP auto insurance program now available through BB&T oswald trippe and company insurance services

  by Richard Burton
  

  The Hartford Financial Services Group has made an announcement today that it would make the award-winning AARP auto insurance program available via BB&T Oswald Trippe and Company Insurance Services in Southern and Central Florida. The BB&T Oswald Trippe and Company Insurance Services has been chosen after it managed to satisfy a series of eligibility criteria that included showing a commitment towards community services, meeting very high levels of business ethics, and successfully completing a training program that had been designed exclusively to highlight the requirements of those who were in the 50+ age groups. Tom Coyne, VP at The Hartford … (more) August 3, 2011

• Top picks of automobile word association

  by Richard Burton
  

  Thirty-four years ago, Bruce Maynard formed his association with Amica Mutual Insurance Co., when he worked at the mint. He recalls, when a patron complained against the mint, the commercial operation completely stopped, because the employees were eager to start a movement against the company’s wrongs. Maynard reached the pinnacle of success by joining Amica as president. Since then the company has never looked back, under his patronage. Recently, Amica won a tip patron compensation measure amongst automobile word companies for a 12th uninterrupted year. Amica’s success is attributed to 5 factors: communication with insurer; price; process offerings; billing as … (more) August 2, 2011

• The most underutilized resource are the auto insurance quotes

  by Richard Burton
  

  Auto insurance quotes are the most underutilized resource although everyone knows its significance. With the economic crisis that is looming large, everyone wants to find the best auto insurance quotes. There are a number of places where you can obtain auto insurance quotes and hence, this could be a very time-consuming task. A number of insurers offer free quotes and incentives to attract customers. Now, the American population has come to its senses and realizes the importance of auto insurance. The entire nation is going through a terrible phase and the number of auto accidents has increased. Hence, the best … (more) August 1, 2011