Auto Insurance News Archive for September, 2011

• PIP auto insurance system in Florida goes out of control

  by Richard Burton
  

  Kevin McCarty, Insurance Commissioner, Florida has given a bleak outlook of the PIP auto insurance system that seems to have spiraled out of control in the recent times. The benefits that have been doled out on the PIP claims seem to have skyrocketed to a whopping 70% since 2008, while the number of licensed drivers has remained the same, and even though the accidents have decreased. The massive hike in PIP payments which was about $2.37 billion in 2010 when compared to $1.43 billion in 2008 is due to the rise in fraudulent practices and due to the abuse of … (more) September 13, 2011

• Auto insurance companies and lawyers battle over the auto insurance bill

  by Richard Burton
  

  Last year, 38-year-old, Samuel Milons Jr., was killed by a driver in Milwaukee. The driver suffered a seizure and lost control over the vehicle and crossed the median killing Milons. Following Milon’s death, Angela Minerick his fiancée racked up credit card debt as she could not afford to pay up the rent on their Milwaukee townhouse. However, Minerick who is a funeral director is far more secure with the thought that her son Samuel III will be able to afford college. According to the auto insurance law of 2009, Minerick was allowed to stack two of her auto insurance policies … (more) September 12, 2011

• Another auto insurance discount initiative gets the backing of mercury chairman

  by Richard Burton
  

  Last year, voters had turned down the auto insurance initiative, which was bankrolled by Mercury. However, Mercury wants to give it another try. This week, the California attorney general’s office released a summary of the proposed initiative that was submitted by Mike D’Arelli, who is the executive director of American Agents Alliance, which is an insurance trade group. This is an initiative that is somewhat similar to the Proposition 17 that was defeated during the June 2010 elections despite the fact that Mercury spent around $16 million on a media campaign that was carried out throughout the state. The new … (more) September 11, 2011

• Review auto insurance to prevent fraud claims suggests Lloyd’s

  by Richard Burton
  

  The leading auto insurance provider Lloyd’s, reported a steeping incline in fraudulent claims. This can be a chief reason for elevating auto insurance premiums. What is more alarming is the fact that the fraudulent car insurance claims are on the rise across the globe. As the insurance companies are exposing escalated number of fake claims, the situation is deteriorating around the world. The Insurance Information Institute of the United States approximates that fraudulent claims constitute over 10% loss each year in the auto insurance industry. How would these frauds affect us when we review or compare auto insurance quotes? Examples … (more) September 10, 2011

• North central insurance agency launches interactive website

  by Richard Burton
  

  North Central Insurance Agency (NCIA) has a legacy of serving affordable and comprehensive Minneapolis auto insurance. The agency’s mission statement is to provide hassle-free insurance for old and new car owners. They have demonstrated their commitment by launching an entirely redesigned, interactive website. The new design offers a more comprehensive source of insurance information and services for prospects and customers. The website hosts an extensive array of useful articles and insurance glossary that facilities the easy flow of information to the insurance buyer. These resources will answer the frequently asked questions related to auto insurance. With interactive features like multiple … (more) September 9, 2011

• Car thefts on the rise during summer –safeguard it with auto insurance

  by Richard Burton
  

  The law enforcement agency is pairing up with insurance companies, community organizations, and concert venues this summer to fight against auto theft. The Denver police department reported a stealing of over 500 cars just last month alone. Now, Denver police squad has teamed up with Coloradans against Auto Theft (CAAT) organization in an effort to prevent auto theft. It is a statewide programme to teach the public about what they can do to diminish their odds of becoming a prey to the auto thieves. GPS will be employed to keep a watch on the neighbourhood, and bait cars to trail … (more) September 8, 2011

• Advertise your auto insurance with BrokersWeb enhanced pay-per-click targeting platform

  by Richard Burton
  

  The top provider of pay-per-click (PPC) services, BrokersWeb, Inc. has launched a superior market targeting tool for auto insurance providers. The platform allows customers to maximize their promotions for increased exposure to their auto insurance products. The high rate of conversions and ROI is achieved by targeting prospects residing in a defined demographic outline, within particular zip code(s). BrokersWeb’s advanced PPC campaign management leverages the advantage to target and engage the customers who meet an advertiser’s desired parameters. Further, the advertisers can amend their proposals for improving their position on the search engine listings, thus increasing the frequency of their … (more) September 7, 2011

• Auto insurance – a $12m sham in South Carolina

  by Richard Burton
  

  In a yearly report released recently, Attorney General Alan Wilson, South Carolina alleged that in 2010, approximately $12 million dollar in auto insurance scam was reported in the state. Counterfeit vehicle claims, contributed over 50% towards the registration of complaints regarding insurance scams, last year. Defrauding insurers not only rips off the insurance company, but also increases the premiums drastically; making it more challenging for people seeking coverage under “affordable” auto insurance. Attorney General’s Office indicated that the average U.S. home cover scam cost is above $1,000 per year form the insurer’s pocket. In South Carolina, last year the complete … (more) September 6, 2011

• Using credit scores for auto insurance – the battle continues

  by Richard Burton
  

  There were raging debates earlier over the use of credit scores by auto insurance companies, while determining the rates on policies and they seemed to have ended some time ago. However, that does not seem to be the case as the battle over the use of credit scores continues. It was assumed that this issue had been resolved four years ago, when the state insurance commissioner had banned the use of credit scores, but that seems to be far from the truth. The issue is back in the limelight and this time around, it would be the voters who would … (more) September 5, 2011

• The rise in auto insurance premiums in NJ must be curbed

  by Richard Burton
  

  The New Jersey auto insurance premiums were a big mess earlier, because they were among the most expensive nationwide. Insurers were in fact, fleeing the scene and there were angry motorists who were protesting on the streets in Trenton. However, in 2003, Gov. James E. McGreevey’s administration spearheaded the reforms, that not only brought in more competition, but also lowered the prices as well. Yet, these changes did not do anything for the PIP coverage, which covers medical costs for accident victims. Bringing about changes in PIP coverage meant battling with two groups – the doctors and the lawyers and … (more) September 4, 2011

• New Brunswick lawyer states that auto insurance needs to be fixed

  by Richard Burton
  

  One of the noted injury lawyers in New Brunswick states that they need to abandon the $2,500 injury cap on the pain & suffering awards in auto insurance and instead, adopt a much better system. George McAllister, a Fredericton-based lawyer with over 35 years of practice states that there are much better models when compared to the cap & threshold model, where a group of accident victims have to carry the burden of lower auto insurance rates. The New Brunswick government had introduced legislation in July 2003 that capped the compensation awarded for accident victims for pain and suffering when … (more) September 3, 2011

• New auto insurance rules and what it means for NJ motorists

  by Richard Burton
  

  There has been a sweeping overhaul last week in the PIP coverage in New Jersey. This is an attempt to lower auto insurance costs and curb the rise in premiums. This will bring about a change in the way doctors bill the patients for the treatment that is rendered and will also restructure the entire process of appealing for a denied claim. New Jersey is one of the most expensive states to purchase car insurance, but the rates did see a decline after the enactment of some changes brought about in 2003 by the McGreevey administration, as it spurred competition. … (more) September 2, 2011

• Auto insurance rate hikes unpredictable in New Jersey

  by Richard Burton
  

  The auto insurance rates in New Jersey are very unpredictable and can really be really frustrating at times. They come in cycles that are unpredictable and there seems to be nothing that one can do.  Even the lawmakers simply shrug their shoulders and state that it is a terrible thing to happen, but they claim that they can do nothing about it because New Jersey is such a crowded state. Now, voters have found out that the lawmakers have no inclination to push these insurance reforms as they are being driven around by state cars, at the expense of the … (more) September 1, 2011