Latest Insurance News

Insurance Changes Concern Consumer Groups ; More Competitive Auto Insurance System Worries Advocates

By JON CHESTO BOSTON - A coalition of consumer groups wrote to Gov. Deval Patrick and his insurance commissioner, urging them to make sure the state's move toward a more competitive auto insurance market doesn't lead to the use of socioeconomic factors to deny consumers coverage or raise their rates. The consumer groups are concerned that market changes being overseen by Insurance Commissioner Nonnie Burnes could lead to insurers using factors such as education levels, credit scores and h...

Sampanh Vows to Be Compliant in 60 Days

By Phusadee Arunmas, Bangkok Post, Thailand Aug. 8--Cash-strapped Sampanh Insurance, which was ordered to suspend operations in mid-July, yesterday submitted a business rehabilitation plan and pledged to fulfil it within 60 days. Among other things, the company pledged to settle value-added tax in an undisclosed amount with the Revenue Department within this month, according to Chantra Purnriksha, the director-general of the Insurance Department. The plan also requires the company to re...

RECORD Money: TIME ONLINE WILL BE WELL SPENT..

TO get the best possible deal on your car insurance, Martin Lewis, founder of website MoneySavingExpert.com, recommends using the three leading price comparison websites - Confused.com, Moneysupermarket.com and Comparethemarket.com. This should less than 30 minutes and provide a range of quotes tailored to your individual needs. Between them, they collect prices direct from around 50 insurers and check 30 brokers. (c) 2007 Daily Record; Glasgow (UK). Provided by ProQuest Information and L...

RECORD Money: CASE STUDY...

STEVEN MUIR slashed the cost of his car cover by using price comparison site Confused.com. The 56-year-old rail supervisor, from Dundee, said: "I saw the adverts for Confused on TV. I'd just got the renewal notice for my car insurance and the price hadgone up. I thought it was odd because I'd had no accidents. I'm a careful driver and I'm over 50, so I logged on to look for a cheaper quote." He was delighted with what he found. Steven, who is married to 52- year-old shop assistant Ann, explai...

Autobacs to Enter Nonlife Insurance Business With AIG

Tokyo, Aug. 6 (Jiji Press)--Japanese auto parts retailer Autobacs Seven Co. said Monday it will set up a joint venture with American International Group Inc. to prepare for the launch of a nonlife insurance business. Autobacs, which as an agent for nonlife insurers already sells compulsory automobile liability insurance, plans to develop original auto insurance products and tap demand from its customers, the company said. The joint venture will have capital of 490 million yen, 65 pct of w...

The World: Fall Off the Map

MORE than a third of motorists cannot read a basic road map, a survey out today showed. And more than four in five fail to recognise that blue-coloured roads on maps signify motorways, the poll from esure car insurance found. (c) 2007 Evening Mail; Birmingham (UK). Provided by ProQuest Information and Learning. All rights Reserved.

News

YOUTHS TO PAY EXTRA IF THEY DRIVE AT NIGHT YOUNG drivers could be forced to pay more for their car insurance if they go on the road at night. The plan is being considered by the Executive as a way of cutting the number of teens killed on the roads. Norwich Union runs a similar scheme and enforces restrictions by installing a GPS device in the car. Between 2002 and 2006, there were 2,844 accidents involving drivers aged 17 to 22, and 40 per cent took place at night. 16FT KEBAB IS WORLD REC...

Plan for School Pupils to Sit Driving Theory Test

By NO BYLINE TEENAGERS will be offered cut-price car insurance and the chance to take their driving theory test at school under plans being considered by the Scottish Executive. The ideas are aimed at reducing the number of young drivers killed on Scotland's roads each year. A steering group of road safety experts, including campaigners and senior police officers, will be asked to help draw up a ten- year plan to improve safety on the roads. Among the ideas being considered is offerin...

The Baltimore Sun Consuming Interests Column: Your Credit Score Can Affect Car Insurance Bill

By Dan Thanh Dang, The Baltimore Sun Aug. 7--John Rogers will be the first to admit that he's had some money problems. Someone digging through the 43-year-old salesman's credit history would see some unpaid bills on his account, a bankruptcy from 15 years ago when his son needed life-saving surgery, and even an Internal Revenue Service lien that still lingers. "I've been working to improve it," said Rogers, who lives in Northeast Baltimore. "I'm able to go out and get loans and I'm no l...

Chef Has Wrong Recipe for Road ; HANDSWORTH: Driver Banned After Saving Money By Cancelling Insurance

By Paul Beard A CHEF who cancelled his driving insurance to save money has been banned from the roads. Paul Groom, 26, of College Road, Handsworth, was caught out when he was ordered to produce his documents by police. He handed over a Norwich Union car insurance certificate covering him for a year from February 2006. But Warwick Crown Court heard Groom had already cancelled the policy when he handed in the document. He admitted forgery and having no insurance and was banned from driv...