Latest Insurance News

EDITORIAL: There's a Red Flag Waving Here

By The Macon Telegraph, Ga. Aug. 29--Seventeen years ago, the Georgia public, fed up with car insurance rates that almost doubled from the 1982 to 1988, voted an insurance commissioner out of office and replaced him with one who promised to fight automobile rate increases. And following the 1990 campaigns, the Georgia General Assembly changed the law, giving the state insurance commissioner approval power over rate increases. Because of that, Georgia now has the fourth lowest rates in the S...

End of No-Fault Could Lead to More Uninsured Vehicles

By Linda Kleindienst, South Florida Sun-Sentinel Aug. 30--TALLAHASSEE -- Millions of uninsured cars could soon be traveling Florida's roads, a result of the looming demise of mandatory no-fault insurance and the state's inability to fully enforce what insurance requirements remain. If no-fault vanishes as scheduled, on Oct. 1, the state will still require that all motor vehicles be covered for $10,000 of property damage. Drivers will have to prove they have insurance when they register th...

Sen. Posey Aims to Revamp No-Fault Law: Sen. Bill Posey is Working on a Measure to Reform the State's No-Fault Auto Insurance Law

By Beatrice E. Garcia, The Miami Herald Aug. 30--While there's still no plan to include any discussion of Florida's no-fault auto insurance when the Legislature meets next month in a special session, one more proposal to revamp the law is in the works. Sen. Bill Posey, a Republican from Rockledge who has led the Senate Banking and Insurance Committee since the beginning of the year, is drafting a bill that's very similar to one he introduced during this year's regular legislative session....

New GEICO Spots Feature Some Old-School Pop Icons: Geckos and Cavemen, Make Way for Ads With Flintstones and the Cabbage Patch Kids

By Jeffrey Kelley, Richmond Times-Dispatch, Va. Aug. 30--Cavemen and geckos are already synonymous with GEICO insurance. A Richmond ad shop next wants to elevate Fred Flintstone, Jed Clampett and the Cabbage Patch Kids to that level, too. Starting today, the latest ad campaign by The Martin Agency for the auto insurance company begins. It sets out to show that these old-school pop icons made their fortunes by switching insurers. The latest 30-second spots are a parody on the E! network'...

Bean stands up for insurance buyers

Today, insurance consumers are at a disadvantage because the current state-based insurance regulation system delays them access to new, innovative products to protect their cars, homes and families. It also keeps customers from continuing their relationship with their agents or brokers when they move to another state if they choose. While this system is frustrating, time-consuming and costly to insurance agents like me, it is unacceptable to my customers. Fortunately, U.S. Rep. Melissa ...

The Post and Courier, Charleston, S.C., Finance Column

By Peter Hull, The Post and Courier, Charleston, S.C. Aug. 27--BANKS' TROUBLED REAL ESTATE LOANS UP FIFTH MONTH IN ROW: By now, I'm sure you've read my story in Sunday's paper about the mortgage crisis sweeping the nation. Until now, it's mostly mortgage companies caught up in the mess, with some of the biggest names in the business going, well, out of business. Then last week, the Federal Deposit Insurance Corp. had some ominous news: Banks' troubled real estate loans rose for the fifth m...

Officials Detail Alleged Insurance Scam: Investigators Say 32 People Lost Money; More Allegations Expected

By Dan Higgins, Albany Times Union, N.Y. Aug. 28--State Insurance Department officials said Monday they had identified 32 victims of a broker who allegedly pocketed $7,000 in premium payments from customers in Warren, Washington, and Saratoga counties. But investigators believe more victims may come forward. Jill M. Morrill, 43, worked at Pro-Vu Best Insurance Co. in South Glens Falls and was arrested last month by Saratoga County sheriff's investigators. She was charged with felony cou...

Local Legislators: Don't Let PIP Law Lapse: House Representatives Think Auto Insurance Plan Needs More Time

By Brian Neill, The Bradenton Herald, Fla. Aug. 28--Republican leaders' current House proposal --Would keep $10,000 personal injury coverage intact. --Would cap attorney fees at $5,000 or three times the amount of the total claim payment, whichever is greater. --Would provide $2 million for fraudulent claims prosecution. --Would do away with the 20 percent co-payment currently paid by policyholders for PIP claims. Local legislators think Florida's no-fault auto insurance law shoul...

`Cavemen' is As Crude As Cave Drawings

In the largely unnecessary tradition of "Baby Bob," "The California Raisins," "Max Headroom" and "Hey Vern! It's Ernest!" ABC is poised to introduce an ad-inspired sitcom, "Cavemen," based on the Cro-Magnons who shill for Geico insurance. The Geico gecko, one presumes, was deemed too highbrow and the good hands of Allstate must have held out for too much money. "When we were making the (Geico cavemen) commercials, we just felt like there were more stories to tell," said Josh Gordon, refer...

Driving Course

The Topeka Police Department will host the National Safety Council Defensive Driving Course from 9 a.m. to 3 p.m. Saturday at department headquarters, 320 S. Kansas Ave. The cost of the program is $15 per person, and successful completion allows individuals to receive a 5 percent reduction on their auto insurance for two years. For information, call Paige Ashley at 368-9016. (c) 2007 Topeka Capital Journal. Provided by ProQuest Information and Learning. All rights Reserved.