Auto Insurance News Archive for October, 2011

  • Florida County takes measures to curb auto insurance fraud

    by Richard Burton
    Florida County takes measures to curb auto insurance fraud

    Florida is one of the many states in the United States that is reeling under the problem of auto insurance frauds. Despite strict checks in place, there has been a consistent rise in the number of frauds being reported in the state. Though the state government is still contemplating on the various measures that it can implement to tackle this fraud, one frustrated county in the state has decided to go ahead and implemented a law to curb this menace. While the state government is trying to fix the loopholes in the no-fault insurance law, this county has passed an … (more) October 3, 2011

  • Auto insurance providers fined by insurance regulators in the state of Washington

    by Richard Burton
    Auto insurance providers fined by insurance regulators in the state of Washington

    Mike Kreidler, the insurance commissioner in the state of Washington, recently announced levying fine on auto insurance, home insurance and other insurance policies for violating various laws set down by the state government. The total fine amount totals to a little over $1 million till date. Of the many violations by these insurance providers, the main ones are improper advertising, unapproved rates and failure to offer young children health care coverage. Also, Kreidler has requested all the residents of the state to reach out to the state insurance department in case they need any assistance in regard to the complaints … (more) October 2, 2011

  • Nationwide negotiating with Harleyville group to buy them out

    by Richard Burton
    Nationwide negotiating with Harleyville group to buy them out

    The eighth biggest auto insurance provider in the United States is negotiating with the parent firm of Harleysville Group Inc, an auto insurance company based in Pennsylvania in order to purchase the company, informed sources who is privy to these negotiations. These sources, who wanted to ensure anonymity due to the confidentiality of the discussions, also went on to say that the final deal may be signed in a matter of days. However, they also said that there are chances that the negotiations may fall apart. The market value of Harleysville Group as of 22nd September, 2011 was $690 million. … (more) October 1, 2011