Friday, June 30, 2006

Axa secures deal to buy Credit Suisse's insurance arm


French insurance heavyweight Axa has finalized an agreement with Credit Suisse to buy its insurance division Winterthur for E7.9 billion in a deal that will see the Gallic insurer become the major player in the Swiss market.


Virginia Insurance Bureau to License Home Service Contract Providers


Effective July 1, 2006, the State Corporation Commission's (SCC) Bureau of Insurance in Virginia will have the authority to license entities as home service contract providers.
A new law adopted b


Wednesday, June 28, 2006

When a vehicle has been stolen and vandalized, is the insured required to pay a deductible in ...


Yes, if your are putting a claim for a stolen vehicle and/or vandalism done to your auto than you asthe insured party will need to pay a deductible. Theft and vandalism to a carare both covered under a comprehensive coverage policy. When a policyholder starts this type of co...


Tuesday, June 27, 2006

On the ISO PAP under collision coverage, what does it mean by the term "inorganic"? ...


You stated that the exact wording in your version of the ISO PAP(Personal Auto Policy) collision coverage section says "Collision losses are defined as resulting from contact with another vehicle or any inorganic item, resulting in damage to the insured vehicle. Other than coll...


Please explain the coverages of a Massachusetts auto policy. ...


Massachusetts has a no-fault insurance system. This means your insurance company makes the payments for injuries you sustain in an auto accident, regardless of fault, up to a specified limit. According to the MA Division of Insurance there are 4 parts to a MA compulsory auto i...


DA: San Jose mayor could face prison, restitution, if convicted


Mayor Ron Gonzales faces up to eight years in prison if convicted of charges that he defrauded and misled the city council and the taxpayers of San Jose. Gonzales was charged Thursday, as was his Budget and Policy Director Joe Guerra, and Norcal Waste Systems.


Monday, June 26, 2006

UK high net worths are under-insured by millions, Norwich Union says


Millions of UK homeowners could be under-valuing possessions and family heirlooms by tens of thousands of pounds according to figures from the insurance group Norwich Union.


Sunday, June 25, 2006

I live in Rhode Island and received a speeding ticket in Massachusetts. ...


Massachusetts is not a part of the Drivers License Compact which Rhode Island is a part of and requires states to exchange information regarding tickets. Massachusetts though has decided to share violation convictions with other states so Rhode Island is likely included in this ...


Best Puts Primary Insurance Co. Ratings under Review - Negative


A.M. Best Co. has placed the financial strength rating of "B++" (Very Good) and issuer credit rating of "bbb" (ICR) for Ireland's Primary Insurance Company Limited (PICL) under review with negative im


Friday, June 23, 2006

Insurance department head named new Medicaid commissioner


Glenn Jennings, the current executive director of the Kentucky Office of Insurance, has been named the new commissioner of the state's Department for Medicaid Services, effective July 15.


California's Mandatory Investment Reporting Legislation is Unnecessary, Insurers Say


Legislation, sponsored by California Insurance Commissioner John Garamendi is unnecessary, will increase costs and will further complicate data collection, said the American Insurance Association (AI


I was hit by a drunk driver who didn't have insurance. ...


It will depend upon state laws and the terms of your uninsured motorist policy if pain and suffering will be part of your settlement from this claim due to the accident with the uninsured driver. A typical UMBI policy will cover your out of pocket medical expenses as well as ...


I live in Missouri full time and am interning in Oklahoma for the summer. ...


Oklahoma and Missouri are both members of the Drivers License Compact (DLC) which typically means that the Oklahoma speeding ticket conviction would be reported back to your home state of Missouri. Oklahoma motor vehicles statutes (section 18-101) states that the judge or mag...


My parents were recently robbed at gunpoint. ...


Your parents should read through their the terms of their comprehensive coverage policy to see if it lists changing locks as a part of the coverage. If it does not, than they should speak with their insurance company to find out if other guidelines would allow for the costs o...


Wednesday, June 21, 2006

Professional Insurance Agents of Oregon/Idaho Elect Board Members, Announce Award Winners


The Professional Insurance Agents of Oregon/Idaho (PIA) recently held their 39th Annual Convention and Trade Show. Association members elected a new board of directors and gave out a number of awards.


Monday, June 19, 2006

If you finance a vehicle under two names, do both names have to be insured on that vehicle?


This will vary from insurance company to insurance company and by state. Some insurance companies will allow one of the two people to purchase a policy without the other person, as long as that person signs an exclusion form excluding the other person from driving the vehicl...


Insurance Limbo Delays Gulf Coast Rebuilding


The owners of the sagging, flood-stained home in New Orleans aren't in. Above the front door, a banner explains their absence, and the lack of progress: "Allstate paid $10,113.34 on this house for s


Saturday, June 17, 2006

My car was brought over from Georgia to Massachusetts having a Georgia licence plate on it and ...


According to the Massachusetts Registry of Motor Vehicles (RMV) there are certain steps to take in order to register a vehicle in MA that was previously registered out of state. The second step of this process is going to a licensed MA insurance agent to obtain an active insur...


States Report Progress on Market Conduct Exam Reforms


The National Association of Insurance Commissioners says it is encouraged by the survey results indicating state insurance regulators have made progress in instituting market regulation reforms.
S


I received a ticket for the new "Move Over" Law in GA, the fine is $710. ...


Georgia's "Move Over" law is title 40-6-16 of the Georgia Code and was passed in July of 2003, so it has been in force for a few years now.This law is meant to keep officers and traffic violators safe from crashes with passing cars. The Move Over law requires drivers to move ov...


I had a lapse of auto insurance in NC and I never turned in plates. ...


If there is a lapse with auto insurance coverage the NC DMV is notified by the insurance company. When this occurred in your situation the NC Department of Motor Vehicles (DMV) should have mailed you a letter about Recertification of Liability Insurance Coverage to which you...


I have full coverage on my 3/4 ton truck which I use for towing my 28ft travel trailer. ...


Insurance companies and their policy terms differ as do state laws. So it varies within the insurance industry if a towed vehicle, such as a travel trailer is covered or not by a motor vehiclepolicy. In some cases a normal liability insurance policy might cover the trail...


What is the penalty in West Virginia for being involved in an accident and you have no ...


West Virginia laws require all motorists to be insured and registered vehicles to carry a minimum amount of insurance coverage. This minimum is $20,000 for one accident, one injury, $40,000 for one accident, 2 or more injuries and $10,000 for property damage. West Virginia ...


Tuesday, June 13, 2006

I live in Pennsylvania. My daughter is going to school in California and she is taking her ...


Since your daughter is taking her mother's car to California for summer and beyond for college she will need to be covered on her mother's policy. The mother should notify her insurance company of this situation. Once the insurance company is aware of the situation, the agent s...


What exactly is the definition of "list only" driver status? Also could you explain ...


Each insurance company has their own terms they use when they rate a person for a policy or how they list a person on a policy. Each state has different requirements for residents of a household and how they are listed, rated, excluded, or excluded with surcharge on a policy. ...


This question is regarding a golf cart. My golf ball was on green, my friend who was playing ...


If your friend has golf cart insurance, a specialty type of insurance that is available in some areas, he might be able to put the claim through that insurance policy since he gave you permission to drive the cart at the time of the accident. Many homeowners policy will cover ...


Sunday, June 11, 2006

I recently purchased a new car and called my insurance company (The Hartford) to transfer the ...


While the process of inspecting your vehicle should have been more thorough, it is a procedure set forth by Florida law. Florida Statute 627.744 requires a private passenger motor vehicle insurance policy providing physical damage coverage, including collision or comprehensive...


Public hearing scheduled for proposal to hike workers' comp premium


The state Insurance Department has scheduled a June 28 public hearing in Manhattan on a proposed 7.5 percent workers' compensation premium increase.


Years back I attended a driving school to remove points from my Florida driver's license. ...


It sounds as if you received a ticket for moving violation in Florida and elected to attend traffic school instead of getting points put on your driving record. This can also be known as withheld adjudication or adjudication of guilt withheld. According to the Florida Depart...


Saturday, June 10, 2006

Do you insured people who live in Ontario, City Bourget or near Ottawa ?


Yes, we do insure people that live in Canada. You can obtain a quote directly from our website by entering yourpostal code above andclick on 'Start Quote.' UK residents can go here: UK Car Insurance through CarInsurance.com If you reside in the United States, you may e...


My daughter just got a new car for high school graduation and it is registered in her name but ...


It may be difficult for your daughter to find insurance on her own since most insurance providers will require her to obtain a regular driver's license within 30 to 45 days of the insurance policy's inception date. If she is going to be fully licensed within this time period, s...


What are my "duties after a loss" responsibilities?


A policyholder's duties after a loss can vary depending upon the guidelines of the insurance company which they are insured through.Most insurance companies have a section in your insurance policy that covers your "duties after a loss." Even though each insurance company has t...


Friday, June 09, 2006

Best Downgrades/Withdraws Quanta Ratings; Company Comments


A.M. Best Co. has downgraded the financial strength ratings (FSR) to "B" (Fair) from "B++" (Very Good) and the issuer credit ratings (ICR) to "bb" from "bbb" for the insurance/reinsurance subsidia


Arch Insurance Group (U.S.) Names Mark Lyons President and Chief Operating Officer (Business Wire)


HAMILTON, Bermuda----June 7, 2006--Arch Capital Group Ltd. today announced that Mark Lyons has been promoted to the position of President and Chief Operating Officer of Arch Insurance Group , effective immediately.


MGIC offers home-buying course in Spanish


Mortgage Guaranty Insurance Corp., the nation's largest provider of private mortgage insurance, said Wednesday that it has launched a Spanish language version of its online homebuyers education tutorial.


Universal Insurance Holdings, Inc. Declares Dividend (Business Wire)


FORT LAUDERDALE, Fla.----June 7, 2006--Universal Insurance Holdings, Inc. today announced that its Board of Directors declared a dividend on its Common Stock of four cents per share.


Wednesday, June 07, 2006

I live in Florida and purchased car insurance a week ago, but found another company that offers ...


According to the Florida Department of Financial services , you cannot cancel your FL auto insurance policy during the first 60 days unless you can provide proof of one of the following: the vehicle is totally destroyed, you sold the vehicle or you obtained coverage with anoth...


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