Latest Insurance News

Op-Ed ; Overdose of Coverage

By SALLY C. PIPES Ever wonder why health insurance costs so much in Massachusetts? Well, maybe it has something to do with the fact that every insurance policy in the state must cover all kinds of services deemed unnecessary by many, including in vitro fertilization. In fact, Massachusetts has 40 of these mandates. Should a resident want a policy that doesn't cover, say, chiropractor visits, sorry - the state has decided that all must have that coverage. Enthusiasm for universal cover...

Geico Accused Of Racial Rate Bias

Feb. 10--TALLAHASSEE -- Is the famous Geico gecko using black and white to rake in the green? Race-based auto insurance premiums may be the result of new systems that factor occupation and education into rates, Florida officials warned at a hearing Friday. Insurance Commissioner Kevin McCarty set the tone by asking members of the insurance industry to testify under oath.....We are unable to display this entire news item because this article's licensing expires after a certain amount of time. ...

Your Money: Pound Notes

By MELANIE WRIGHT PRICEY DRIVING pounds MEN in their 20s pay twice as much as those in their 30s for car insurance, according to a survey by moneysupermarket.com Last year the average annual car insurance premium for a man in his 20s was pounds 1,123, compared with pounds 543 for a man in his 30s. SKI AT ANY AGE pounds AROUND 12 per cent of skiers last season were 55 or older, according to Help the Aged Travel Insurance. It offers the option of winter sports cover with no upper age li...

Post Office Introduces New Van Insurance Product

The UK Post Office has launched a new van insurance offering for small and family businesses that it claims gives van owners a better deal.The Post Office's van insurance entitles drivers to a free physio recovery program if they are injured in an accident, and offers accident assistance, a 24-hour claims helpline and GBP50 cashback with any new policy."By including free physio treatment for injured drivers and accident assistance, our new van insurance can help get small business back on the...

Frost Bites

SAINSBURY'S Car Insurance is urging drivers to be on their guard against 'frosting'. The company warns that they could fall victim to the so-called crime where opportunist thieves take advantage of drivers who leave their cars unattended while warming up the engine. Between 2000 and 2005 there were 121,730 frosting incidents. (c) 2007 Evening Mail; Birmingham (UK). Provided by ProQuest Information and Learning. All rights Reserved.

Basis for Auto Insurance Rates is Challenged: Being a Safe Driver May Not Be the Most Important Criteria for Getting the Best Rate on Auto Insurance. A High-Paying Job and a College Degree Carry More

Feb. 9--Forget the squeaky clean driving record. With some insurers, a white-collar job and college degree can get you a lower rate on your auto insurance. In Florida and 43 other states, your job and education could be deciding factors in qualifying for insurance from the Geico subsidiary that has the best rates.....We are unable to display this entire news item because this article's licensing expires after a certain amount of time. This article was originally published by The Miami Herald ...

Insurance Agents' Group Frustrated at FSA Penalties

Tokyo, Feb. 8 (Jiji Press)--An organization for nonlife insurance agents has submitted a report to the Financial Services Agency expressing its complaints about the FSA's business suspension orders slapped on two major nonlife insurers, Jiji Press learned Thursday. The report, compiled by Independent Insurance Agents of Japan Inc., detailed inconveniences caused to policyholders by the penalties imposed on the two firms, Sompo Japan Insurance Inc. and Mitsui Sumitomo Insurance Co. . Follo...

Legal and General in Pounds 285m Nationwide Deal

LEGAL & General is to buy Nationwide's insurance and investment businesses in a deal that will also see the group sell its products through the society's high street advisers. L&G hopes to complete the takeover of Nationwide Life and Nationwide Unit Trust Managers in the summer for an as yet undetermined sum, although the businesses were valued at pounds 285m in March last year. The insurance giant will also distribute dual-branded life insurance, pensions and investment products through ...

Risks, Rates Remain Hot Topics: Regulators Study Factors Used to Set Auto Premiums

But should your job and your high school or college education have anything to do with your premium? State Insurance Commissioner Kevin McCarty said he's worried that using these factors could be discriminatory. Top insurers in the state, including State Farm, Progressive and Allstate, don't use education and occupation as factors in determining a person's potential risk.....We are unable to display this entire news item because this article's licensing expires after a certain amount of time....

EDITORIAL: Prove Coverage

Feb. 5--Auto liability insurance isn't optional, so providing proof to the state makes sense That's why we support a bill in the Legislature that would require people to show proof of auto insurance when they renew their vehicle license each year. Requiring car owners to show that they carry auto liability insurance will cut down on incidents that leave people vulnerable and innocent parties picking up the tab.....We are unable to display this entire news item because this article's licensing...