California Continuous-Coverage Proposal to Get Statewide Vote
January 24th, 2012
Residents of California will get a second chance to vote on a ballot measure that would allow car insurance companies in the state to give continuous-coverage discounts to policyholders regardless of who their previous insurer was.
California Secretary of State Debra Bowen announced on Wednesday that backers of the initiative have collected enough petition signatures to qualify the proposal for inclusion on the states November ballot.
Insurers can currently give Californians discounts for continuously maintaining car insurance coverage, but only if they stay with the same company. So if State Farm policyholders renew their policies with State Farm, they can get a discount for maintaining coverage.
Tags: Statewide Vote, Vote
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Is car insurance necessary in all states?
January 21st, 2012
All states have some sort of financial responsibility law in place. Usually this takes the form of liability insurance and some states only offer this as a means to prove financial responsibility. Other states offer options, such as a bond or deposit with the DMV or similar agency in the state. Some states, like Virginia, require insurance, but then offer you a way to avoid carrying it by paying a yearly fee. Even New Hampshire will require proof of financial responsibility if you get into a situation where you’ve demonstrated your inability to pay damages in an accident.
Tags: States
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What is a federal employee car insurance discount?
January 18th, 2012
If you’re a federal employee, you may wonder if you can get a special discount on car insurance. There is no simple answer. It all depends on the insurance policies in the state where you live. Let us do an auto insurance company comparison with our ZIP code search and find the best rates for you! Just enter your ZIP and let us do all the work!
Some car insurance companies only serve federal employees. Some insure only a specific type of federal employees. They may, for example, only insure those who serve in the military.
Tags: Car Insurance, Discount, Federal Employee
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The Basics Of A Required Insurance Education
January 16th, 2012
Most people never think about the insurance education that is required for agents to begin providing policy coverage. Neither do they consider the continuing educational efforts that must be made to maintain licenses over time. For people who are thinking about getting into the industry, however, it is absolutely essential that these details be fully understood.
The requirements
It is important to understand that there is no legal requirement to obtain a college degree before obtaining a job as a brokering agent. However, the industry has its own standards and they currently require licensing and that includes at least a two-year Associates degree.
Tags: Education, Insurance Education
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Managing Deductibles To Get Cheap Car Insurance Coverage
January 15th, 2012
Auto insurance, much like every other insurance in this country, has been increasingly getting more expensive. There are many reasons for the increase in costs, but the fact remains that policies are getting pricey while coverage is staying the same. Because of the rising costs, some individuals or families have been moving to basic coverage or getting liability only in order to cut costs. But it’s important to know state laws regarding basic coverage before making that move.
Tags: Car Insurance, Insurance
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Harmonized policy on the use of credit information in underwriting will not happen: CCIR
January 6th, 2012
The Canadian Council of Insurance Regulators (CCIR) is currently reviewing the results of a consultation it conducted last year on credit scoring, but it doesn’t appear likely that a harmonized approach to credit scoring will be the outcome.
“Frankly, there will be no harmonized policy on use of credit information in underwriting,” CCIR chairwoman Danielle Boulet said in a Dec.
Tags: Ccir, Underwriting Happen
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Making Health Insurance Affordable for Small Business
December 30th, 2011
The best available health insurance plans should be purchased at the best possible costs.
The dialogue over health insurance policies, programs and costs has become confusing for small business owners who just want good coverage for themselves, their dependents and their employees.
Terms such as public options and universal health care were not in the general vernacular just three years ago, but now the conversation about benefits and the pitfalls of a new national health care program has left small business owners and their employees worried about coverage options and related costs.
According to insurance industry associations, the best plan for small businesses, and also for larger companies and nonprofits, is to continue to offer employees the best available plans that can be purchased at the best possible costs.
Tags: Business, Health Insurance, Small Business
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GEICO to refund $7.5 million, pay $100,000 fine for Wash. overcharges
December 29th, 2011
GEICO was fined $100,000 by Washington State officials and ordered to refund about $7.5 million in overcharges to thousands of its customers in the state.
The Maryland-based national insurer must refund the overcharges, averaging about $300 per policyholder, to 25,267 of its policyholders in Washington State, according to the office of Washington Insurance Commissioner Mike Kreidler. GEICO must also include 8% interest in the refunds, officials said.
State officials said “a computer database error” caused the problem, which GEICO reported to state officials “promptly,” according to a statement from Kreidler. The computer error, resulting in 7% of the companys customers being overcharged between Aug.
Tags: Fine Wash, Wash
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