TweetOn March 9, 2012, the state of Florida enacted a major reform to its no-fault auto insurance law in an effort to stop rampant abuse of personal injury protection cases, a veritable cottage industry for fraud that has led to … Continue reading
TweetThe Insurance Information Institute is predicting a 5 percent jump in homeowners insurance premiums in 2012, taking the national average to $1004. The rise will be a further economic blow to homeowners already coping with falling real estate prices and … Continue reading
TweetAlthough it’s taken as an article of faith that auto insurance is required to legally operate a motor vehicle in the United States, there are exceptions. New Hampshire, for instance, does not force drivers to buy car insurance, but drivers … Continue reading
TweetThe Insurance Research Council estimates that each year insurers lose $5 billion to $7 billion to inflated auto accident claims alone, although the real cost of insurance fraud likely runs to tens of billions. Insurers pass those losses on to … Continue reading
TweetConsumers are mistaken in their belief that smaller, more fuel-friendly vehicles are cheaper to insure. In a price-by-price comparison, larger cars, trucks, and SUVs routinely return lower premium levels because they are perceived to be safer in insurer risk profiles. … Continue reading
TweetAccording to figures compiled by the Consumer Federation of America, low to mid-level income Americans may be paying too much for their auto insurance policies, a situation which lowers their employment opportunities because they cannot legally drive an uninsured vehicle. … Continue reading
TweetAcross the nation dog bite cases are on the rise, with major cities like Houston reporting a 79 percent increase in incidents in 2011. The effect such incidents can have on homeowners insurance for all dog owners is considerable. Insurers … Continue reading
TweetFor the most part, public attention on insurance-related matters in 2012 will center on the on-going health care debate. This is a presidential election year, and the conservative opposition to the Obama administration will drive home the “failure” of the … Continue reading
TweetAccording to the Insurance Council of Texas, the wildfire that destroyed 1,673 homes while laying barren 33,000 acres around Bastrop Texas, in September 2012 will likely result in $325 million in insured losses, making it the most costly wildfire in … Continue reading
TweetInvestigators from the New York State Department of Financial Services have determined that life insurers in the state have been holding back more than $52 million in life insurance benefits to the survivors of deceased policy holders — in some cases … Continue reading