Latest Insurance News

What to Expect After No-Fault Expires

By Beatrice E. Garcia, The Miami Herald Sep. 17--Here are questions and answers on figuring out what auto insurance you might need after the no-fault law expires as expected on Oct. 1.: Q. What kind of auto insurance coverage will be mandatory? A. After the no-fault law expires, drivers will no longer be required to buy $10,000 in personal injury protection, or PIP, that covers medical expenses and lost wages in an accident, regardless of who is at fault. Only property damage liabilit...

South Florida Sun-Sentinel Personal Finance Column: End of No-Fault Likely to Require More Coverage

By Harriet Johnson Brackey, South Florida Sun-Sentinel Sep. 16--Oh, fun. Now is the time to review your auto insurance coverage. Starting next month, unless something happens in Tallahassee, the requirement that all Florida licensed drivers carry $10,000 in personal injury protection -- called PIP -- will expire. The no-fault system will end. That may reduce your insurance premium, but you will be taking on more risk than you have now. As a result, you may want to buy more coverage. And...

SUPER CRUNCHERS: Why Thinking-By-Numbers Is the New Way to Be Smart

By Goldberg, Cait SUPER CRUNCHERS: Why Thinking-by-Numbers Is the New Way to Be Smart IAN AYERS Conventional wisdom dictates that experience and intuition are unfailingly valuable when it comes to making decisions. Ayers, an econometrician and a lawyer, makes a case that may revolutionize that mind-set. We have entered an era in which decisions based on the analysis of data sets can produce far better results than decisions based on experience, he says. Companies use data-driven formulas,...

No More No Fault: Is That Bad or Good? Someone Still Must Pay the Bills After Personal Injury Protection Mandate Ends.

By URVAKSH KARKARIA Short of a eleventh-hour political intervention, causing an auto accident in Florida could soon mean more pain for your pocketbook. The Florida No-Fault law, scheduled to expire Oct. 1, requires drivers to purchase Personal Injury Protection, which pays up to a maximum of $10,000, regardless of fault, for injuries caused in an automobile crash. Once the law sunsets, motorists who cause an accident will be responsible for the other driver's accident- related medical bil...

Steady Trend in Rising Car Insurance Premiums, Finds Sainsbury's Bank

Sainsbury's Bank car insurance index, which provides a comprehensive independent analysis of online car insurance premiums across the UK market, reveals that the cost of car insurance is steadily rising, with the average premium in July 2007 reaching GBP486.43, an increase of 2.9% over December 2006 and 4.2% over July 2006. Over the 12-month period, the average car insurance premium increased by GBP19.80. The index indicated that gender continues to have an impact on how much customers pa...

Provident Financial Benefits As Banks Shun Subprime Lending

DOOR-TO-DOOR credit company Provident Financial said it has not seen much evidence of poorer households struggling to make up their payments. The Citizens Advice Bureau today claimed it had seen record numbers of people seeking advice over debt. But Provident said defaults in its home credit division rose just 0.9% to 107.4 million in the first half of the year, and did not expect that to increase in the second half. The company had dodged the worst of the credit crunch by borrowing abo...

Tesco to Launch Compare.Com

Tesco will launch its price comparison website this Friday, 14th September 2007, backed by the Royal Bank of Scotland. The site will initially offer car insurance price checks, but the capability to price check home insurance, credit cards and loans is expected to follow. For each car insurance quote, the site will check 30 providers and offer a list of prices and some basic product information. Consumers can then choose four policies to compare in more detail. The site will include quotes...

Expiration of Florida No-Fault Law Means New Rules for Motorists

By Urvaksh Karkaria, The Florida Times-Union, Jacksonville Sep. 8--Short of an eleventh-hour political intervention, causing an auto accident in Florida could soon mean more pain for your pocketbook. The Florida No-Fault law, scheduled to expire Oct. 1, requires drivers to purchase Personal Injury Protection, which pays up to a maximum of $10,000, regardless of fault, for injuries caused in an automobile crash. Once the law sunsets, motorists who cause an accident will be responsible for ...

ABC Insurance Launches Private Car Insurance Product

ABC Insurance, part of the LV= Group, has launched a new private car insurance policy, which is available exclusively via insurance brokers. The launch is expected to spearhead ABC's entry into the personal lines market and is its second new product following the launch of its business insurance policy in May 2007. The new car insurance product is a full-cycle EDI private car policy, which will initially be available via two broker software houses, SSP and CDL, with a third to follow late...

Budget-Cutting Special Session Cancelled: That Means PIP Likely to Expire Come October

By Alyson Crean, Florida Keys Keynoter, Marathon Sep. 8--A special legislative session aimed at adjusting to a slower state economy was called off because House and Senate leaders were unable to compromise on cutting more than $1 billion from the state budget. Legislators intended to meet Sept. 18 to cut the $71 billion state budget to match projected revenues, which could be $1.1 billion less than originally estimated. In a Sept. 6 letter, Senate President Ken Pruitt and House Speaker ...