insurance worldinsurance worlda great blog about insurance. and i hope can help you to choose the prefect insurance. Articles
Why car insurance costs rise 5%????
2008-02-27 17:07:00 Car insurance is costing drivers 5% more on average than a year ago, figures have shown.And it is motorists aged 40-50 who have endured the biggest increases, statistics from Sainsbury Car Insurance found.While the average insurance premium has gone up 5.24% in the last 12 months, the average rise for drivers aged 40-50 is 7%.The average premium for all motorists is now 497.26, while under 25s have seen the averaged rise 6.59% to 1,255.99.Those aged over 65 have seen their insurance rising the least - up 4.14% to 353.53 on average, while those aged 50-65 now have the lowest premiums - paying an average of 332.80.Sainsbury's Car Insurance manager Joanne Mallon said: "There are a number of factors leading to higher premiums, including a rise in the cost of personal injury claims and also repairs."However, given that nearly 70% of us admit to some form of potentially dangerous activity while driving, such as eating or using mobile phones, by cutting out these practices we can redu... More About: Rise , Costs
Massachusetts Drivers to Get New Choice for Car Insurance as Progressive Pr
2008-02-27 17:05:00 MAYFIELD VILLAGE, Ohio, Feb 25, 2008 (BUSINESS WIRE) -- Massachusetts drivers could soon save even more on car insurance when Progressive begins offering coverage in the Commonwealth. Progressive today filed private passenger auto rates with the Massachusetts Division of Insurance . If the filing is accepted, Massachusetts drivers will be able to buy car insurance on progressive.com starting May 1. Progressive's filed rates are an average of 18 percent lower than the average rates paid by Massachusetts drivers in 2007."We're excited about offering Massachusetts drivers the potential to save money and the opportunity to have an insurance company known for its innovative products and responsive 24/7 claims and customer service," said Cathy Wilton-Bransch, Massachusetts product manager, Progressive. "We appreciate the work the Division has done to create a regulatory environment that allows companies to compete for customers. We hope that come May 1, drivers will check out progressive... More About: Drivers , Car Insurance
When to buy car rental insurance
2008-02-27 16:19:00 Q: Does it make sense to purchase insurance when I rent a car, or am I already covered?A: With so many options at the car rental counter, it may be tempting to buy whatever insurance protection is available to safeguard your trip. But many travelers don't realize they're more than likely duplicating coverage they already have.Not only does a driver's insurance policy protect against theft or damages to a rental vehicle, but often so does a major credit card used to pay the rental fee.The best thing to do is to call your insurance agent and credit card company in advance. Just because you've used a gold or platinum card in the past, don't assume that it still offers the same protection plans?the cards' insurance benefits can change."More often, these prestigious cards are starting to change the advantages they offer to their cardholders, and often times the cardholders are unaware," said Carolyn Gorman, vice president of the Insurance Information Institute in New York. "You cou... More About: Rental
Insurance bills public hearing to be Wednesday
2008-02-27 16:17:00 The bills are Senate Bill 3, which would allow captive insurance companies to sell automotive coverage along with homeowners policies; and Senate Bill 5, which would overhaul the beach pool and offer tax incentives for people who renovate their homes to make the structures more resistant to storms.Captive insurance essentially allows businesses, condo associations or governments to self-insure as a group.The beach pool, or Alabama Insurance Underwriting Association, is the insurer of last resort for property owners on the coast. The association was established by regulations created by the Alabama Department of Insurance but is not in state law.Coastal insurance has surfaced as a major issue since several carriers increased rates, dropped coverage or did not renew policies following devastating hurricanes in 2004 and 2005. More About: Public , Wednesday , Hearing , Bills
Verdict out on insurance reform
2008-02-27 16:17:00 One year after Gov. Charlie Crist signed insurance reform into law, experts are debating whether homeowners got the rate relief the bill was intended to provide.As the economy worsens, some Florida residents are taking risks by buying less insurance than they need -- to save money."I wish I saw a bright future out there," Tampa attorney Chip Merlin said. "Except for those people who can afford good insurance, it's become evident that many people are reducing their insurance, hoping a catastrophe won't happen. It's essentially playing Russian roulette with your savings."For the last two years it's been the perfect time to be in the insurance business in Florida because rates have been through the roof and there have been no catastrophes."Homeowners must go forward, but where can they go? State Farm (which recently announced it has stopped writing new policies), Citizens Property and Universal Property & Casualty rank 1-2-3 in the region, including Sarasota, Charlotte, DeSoto ... More About: Insurance , Reform , Verdict
Saving Money on Home Insurance: An Agent's Advice
2008-02-27 15:48:00 Most home insurance agents gain new customers daily from these scenarios:-A new home owner purchasing their first home.-A home owner who got a significant rate increase on their home insurance renewal.-A home owner who has had a "falling out" with with their current insurance agent or insurance company.-A home owner who has received a cancellation notice from their current insurance company due to claims history or other factors.All of these prospective customers ask the question:"How can I save money on my home insurance?"Home Insurance agents have compiled this list of tips to save money on home insurance:1. Shop Around. While this is time consuming, it's usually well worth the consumer's time to make some calls and inquiries. The public is usually not aware of individual insurance companies "growth strategy". Company A might be raising rates to lower exposure in a market, while Company "B" may be looking to grow in a certain market.2. Give the agent full disclosure of your circ... More About: Advice , Money , Saving
Be headstrong at work
2007-10-05 05:06:00 It’s time to Be Headstrong in the office. That was the message released from the Alzheimer’s Society, who have teamed up with healthcare benefits provider HSA to release their top work place tips for reducing the risk of dementia.‘Be Headstrong’ is the focus of Alzheimer’s Awareness Week 2007 (1 – 7 July), which will promote simple life changes that might protect against dementia while quashing some common myths. And, as a long-standing supporter of the Alzheimer’s cause, HSA is working with the Society to help promote these best practice guidelines in the workplace.The top tips are:Take the stairs rather than the liftJoin the work social or sports clubAvoid lunches that are high in salt or saturated fatDon’t smokeGet some fresh air – take a walk at lunchtime, or even better, walk or cycle to work.Neil Hunt, chief executive of the Alzheimer’s Society says, ‘Evidence shows that many people are worried about developing dementia in their old age but don’t realis... More About: Work
Younger adults open their minds to private medical insurance
2007-10-05 05:05:00 Higher expectations of healthcare in the UK are leading to an increasing acceptance of private medical insurance (PMI), especially within the 18-24 market, BUPA's national Health of the Nation survey reveals.The major annual survey of the general public's attitudes and behaviours regarding health and lifestyle, found that the proportion of those who don't believe in private healthcare has fallen seven percent since 2000 to 26 percent among this age group.Clean hospitals, no waiting lists and faster access to specialists are all high on the list of reasons for the increasing warmth in attitude towards private healthcare.Sixty-eight percent of those interviewed believe that with PMI you can get quicker and better healthcare, more than one in three (38%) of those without PMI say that they would consider paying for private care and nearly three quarters (74%) of all PMI holders surveyed would recommend it to friends and family.The first rise in demand for PMI in five years confirmed ... More About: Medical , Insurance , Open , Minds , Private
Guide to making dental care affordable
2007-10-05 05:04:00 HSA has updated the popular “Guid e to making dental care affordable” booklet, produced in association with the British Dental Health Foundation.This independent guide is designed to enable individuals and families gain a better understanding of the myriad of payment options available for UK dentistry and to help them choose the best solution for their budget and dental requirements.The guide has sections detailing many of the funding options available in the UK for consumers. This includes the new NHS banding system, health cash plans, dental insurance as well as pay as you go. The guide is simple and easy to understand and not biased towards any one provider. It includes pros and cons for each funding option, together with facts and figures for the dental market in the UK.For further information, visit has.co.uk. More About: Care , Makin
Foreign drivers risking a car insurance claim?
2007-10-05 05:03:00 According to the Daily Mail, police officers are warning that immigrants from eastern Europe may not be fully aware of drink driving restrictions in the UK."We are seeing an increase in the number of foreign nationals being arrested for drink driving and speeding," said Chief Inspector Rick Dowell, head of Dorset Police's traffic unit.In addition, some immigrants have trouble reading road signs, which may also put their car insurance premiums at risk, while others may not be familiar with enforced drink driving legislation, especially those from Baltic states.He stated that officers feel that much of this may be rectified with education.In response to the findings, the force is considering the option of introducing a driver awareness course for new arrivals from eastern Europe.Meanwhile Cambridgeshire Police have prepared guidelines for migrant workers outlining the UK's stance on drink driving. More About: Drivers , Insurance , Car Insurance , Foreign , Reign
Families in future healthcare plight
2007-10-05 05:02:00 Latest research released by Heal thplan provider HSA reveals a worrying picture for the future health of the UK.The annual benchmark survey has found that the nation is losing its faith in our National Health Service with only a third of respondents thinking the NHS will always be a part of the UK healthcare system, and a further 59% are concerned they may not be able to afford the cost of health in the future.These are just a few of the findings of HSA’s “Is the UK looking at a healthy future?” report which is now in its second year. The independent survey looks at the future of UK healthcare from three key perspectives - employee, employer and the UK at large, in an attempt to predict what the future health of our nation holds.Abby Bowman, a spokesperson for HSA explains: “The National Health Service has been an integral part of our culture since 1948, and it is a service towards which many of us feel fiercely loyal. However, it seems that we are no longer convinced that it... More About: Healthcare , Future , Families
PruHealth and Sainsbury’s partner to encourage healthy eating
2007-10-05 05:01:00 PruHeal th, the innovative private medical insurer, announced today it has partnered with leading supermarket Sainsbury’s in a move that could see PruHealth PMI customers rewarded for buying fresh fruit and vegetables at Sainsbury’s.The deal will provide PruHealth policyholders, both individual and corporate, with the opportunity to earn PruHealth Vitality Points when buying fresh fruit and vegetables at Sainsbury’s. For every £2 spent on your weekly fruit and vegetable shop you could earn PruHealth Vitality points which will then be accrued over the course of a year and offset against your premiums the following year, assuming no claims have been made.Points will be earned according to monetary spend, so for every £2 spent on fresh fruit and vegetables, policyholders will receive 1 Vitality point. Individual policyholders will be capped at 10 points per week. The maximum number of points an individual policyholder can accrue over the course of a year is 520. Family policyhol... More About: Partner , Healthy , Eating
PruHealth partner with Boots to make health checks accessible in-store
2007-10-05 04:59:00 PruHealth announced today a new screening partnership with high-street chemist Boots to make it easier for SME and Corporate members, and Boots PMI customers to undertake health checks once a year within selected larger Boots stores.This service offering is a continuation of PruHealth’s pioneering Vitality model that helps its members become healthier by reducing the financial barriers to entry and rewarding members for participation. The Vitality model’s core components consist of education, nutrition, exercise, cessation of smoking and screening and this new benefit will allow customers to accrue more “Vitality points” which could lead to cashback rewards on renewal for group employees or the reduction of PMI premiums for Boots PMI customers.The service comes less than six months after PruHealth partnered with Boots to provide affordable health insurance to Boots customers.PruHealth research shows that less than half of the population (49 per cent) know their blood pressur... More About: Partner , Store , Make
Make life easier...with BUPA
2007-10-05 04:57:00 BUPA Group Risk has introduced a new approach to forward underwriting to make it easier for clients and intermediaries to switch business to BUPA.Normally increases in benefit for those over the free cover level have to be underwritten when a scheme switches, but with this innovative new approach the number of cases where underwriting is required will be dramatically reduced.Previously, advisers had to be careful to avoid creating problems, as part of a scheme switch, for highly paid members in particular. Where individuals are over the free cover limit 'forward underwriting' tends to apply. In other words, they are underwritten for a higher amount of benefit than they require in an effort to avoid the need to re-underwrite every year. However, when a scheme is switched from one insurer to another, this underwriting status tends to be jeopardised.Lee Lovett, head of sales at BUPA Group Risk, explains: "Although it is pretty much standard practice for insurers who have won schemes ... More About: Life , Make
Over 3.4 million parents have no life cover
2007-10-05 04:56:00 Sainsbury’s Bank estimates that over 3.4 million parents don’t have life insurance despite the inherent costs associated with looking after children, which the bank urges parents not to underestimate.Research from the Bank indicates that during the school summer holidays alone, parents intended to spend, on average, around £507.80 each, or collectively £5.29 billion on keeping their kids entertained.The Bank is urging all parents to regularly review their protection needs, in particular life insurance which does not need to be expensive with Life Insurance through Sainsbury’s starting from as little as £5 a month.Claire Moyles, Life Insurance Manager, Sainsbury’s said: “It’s so easy to underestimate how expensive it is to look after a child. Kids depend on Mum and Dad for everything, not just during the holidays, but throughout their whole childhood. Parent s need to consider how their families would cope financially should something happen to them. Life insurance can ... More About: Cover , Million
Over 3.4 million parents have no life cover
2007-10-05 04:56:00 Sainsbury’s Bank estimates that over 3.4 million parents don’t have life insurance despite the inherent costs associated with looking after children, which the bank urges parents not to underestimate.Research from the Bank indicates that during the school summer holidays alone, parents intended to spend, on average, around £507.80 each, or collectively £5.29 billion on keeping their kids entertained.The Bank is urging all parents to regularly review their protection needs, in particular life insurance which does not need to be expensive with Life Insurance through Sainsbury’s starting from as little as £5 a month.Claire Moyles, Life Insurance Manager, Sainsbury’s said: “It’s so easy to underestimate how expensive it is to look after a child. Kids depend on Mum and Dad for everything, not just during the holidays, but throughout their whole childhood. Parent s need to consider how their families would cope financially should something happen to them. Life insurance can ... More About: Cover , Million
Women's safe driving 'likely to go unnoticed'
2007-10-05 04:55:00 A study conducted by charity Brake and breakdown service Green Flag found that almost half of respondents believed that men were more dangerous behind the wheel than women, while 42 per cent saw little difference between males and females, the Telegraph reports.Some eight per cent of respondents said they saw female drivers as being more likely to jeopardise their women's car insurance by being a menace on the roads.Statistics compiled by the Home Office last year showed that 97 per cent of motorists who were found to have a conviction for dangerous driving were male, highlighting that most motorists are unaware that female drivers make up a tiny portion of convictions.A Brake spokesman told the publication: "It's all about perception. People think that women are as bad drivers as men, which is not what the statistics say."In addition, a study by moneysupermarket.com recently showed that female drivers were half as likely to drive without women's car insurance cover as men. More About: Driving , Safe
Legal & General calls in Samaritans
2007-10-05 04:53:00 Legal & General , UK protection provider, has turned to Samar itans for specialist training and advice on how to handle potentially difficult or sensitive calls with customers who are making a protection claim.The training is designed to equip claims handlers and those in operational support with the skills needed to offer a compassionate and efficient service.Stuart Johnson, Legal & General’s Senior Operations Manager for Claims and Underwriting said: “People who are claiming on their own policy or on behalf of a relative who has recently passed away, will be going through a very tough time and their emotions will be running high. Our staff need training to know how to deal with people in this situation in a way that allows us to offer a friendly and professional service. These customers have enough to cope with already and they just want us to deal with the claim in a timely and efficient manner.”Samaritans ’ External Training Officer, Steve Tollerton, said: “Workin... More About: Legal , Calls
Post Office launches over 50s life cover
2007-10-05 04:52:00 The Post Office today announces its launch into the life market with its new Over 50s Life Cover , available now.The over 50s plan builds on the Post Office ’s existing range of financial services and offers affordable and comprehensive peace of mind to people who want to avoid passing on funeral costs or outstanding debts to their family.Acceptance is guaranteed for everyone that applies. Only three simple questions need to be answered to receive a quote, with no medical questions or checks needed.Customers can choose how much cover they want with premiums starting at just £7 a month up to a maximum of £50. Post Office Over 50s Life Cover offers higher sums assured than the leading products currently on the market and will pay out the full sum assured after just 12 months.And customers can choose a free gift - a Freeview box, digital camera or box of wine - after their third monthly payment has been collected.Post Office director of insurance Phil Ashkuri said: “This is the fir...
Protection insurance that rewards you for being healthy
2007-10-05 04:51:00 Today sees the launch of PruProtect, a new protection product set to revolutionise the protection industry. PruProtect is brought to the UK market through a joint venture between Prudential UK and South African insurer, Discovery.PruProtect’s suite of products offers customers Life Cover, Income Protection and severity based Serious Illness Cover. It follows the success of PruHeal th by using the innovative Vitality points system which is designed to encourage people to take control of their own health and wellbeing and to give them the potential to manage their premiums throughout the course of their contract.By recognising people’s efforts to look after themselves, PruProtect is able to offer a more comprehensive set of benefits than traditional providers at a very competitive price. For example, its severity based approach to Serious Illness Cover breaks the mould of traditional ‘all-or-nothing’ Critical Illness policies and takes on today’s key challenge of engaging con... More About: Insurance , Healthy , Rewards , Reward
moneysupermarket.com: launch of PruProtect
2007-10-05 04:48:00 Commenting on the launch of PruProtect, Emma Walker, head of protection at moneysupermarket.com, said: “This is a novel move for the protection market and actively encourages consumers to lead a healthy lifestyle. The vitality points system allows consumers access to lower premiums if they are prepared to go to the gym regularly, stop smoking and attend health screenings. If a policyholder’s efforts are significant enough, they could see a 2.25 per cent decrease in their premiums over the year.“In order to benefit from reduced premiums, consumers should think carefully whether they will actively take steps to improve their health. If not, it might be better to opt for a traditional protection product. A good adviser can highlight appropriate policies and can help consumers compare products so they are able to arrange protection for their specific needs.“Policyholders are also covered for severity-based serious illness cover, which works differently to most critical illness p... More About: Launch
Low-cost car insurance expands
2007-10-05 04:46:00 California's Low Cost Automobile Insurance Program just about doubled the number of counties this week where eligible uninsured motorists can get the minimum legal coverage for less than $400 a year.Amador, Calaveras and Tuolumne counties are among the 20 counties added to the list, bringing the total to 42. San Joaquin County motorists have been able to purchase the low-cost insurance for $292 annually since June 2006.Only 16 mostly small, rural counties, including Alpine, do not have the program, and state Insurance Commissioner Steve Poizner anticipates the insurance will be extended to them in the next several months."Hopefully, it will be an option statewide by the end of the year," Department of Insurance spokesman Jason Kimbrough said. "Expanding affordable options among all lines of insurance is a priority for Commissioner Poizner. So this expansion is a great step."This is real insurance underwritten by legitimate, licensed insurance companies. And as the program grows sta... More About: Car Insurance , Low cost
After 2 years of ban, Connecticut drivers still chat on cell phones
2007-10-05 04:43:00 It's hard to believe it has been two years that you've been ignoring the statewide ban on hand-held cell phones while driving.Time flies for scofflaws.OK, so maybe you bought one of the hands-free devices, but how often do you actually use it?Dave Olenoski climbed out of his pickup truck outside the post office in downtown Shelton on Friday morning wearing a hands-free earpiece, which he's used since shortly after the law took effect two years ago.He said it's hard to avoid using mobile phones. "You can't do away with cell phones completely in this day and age," the 51-year-old Shelton contractor said.Enforcement of the law this year is on track to more than triple the number of drivers caught in 2006, according to statistics compiled by the state Judicial Branch.More than 16,000 drivers had cases adjudicated in Superior Courts throughout the state between Jan. 1 and June 30 of this year.Still, tens of thousands, maybe hundreds of thousands, of drivers continue to ignore the la... More About: Drivers , Chat , Cell Phones , Phones , Connecticut
10 simple tips to save on car insurance
2007-10-05 04:40:00 In response to two industry research studies this week on car insurance premium levels, James Harrison, chief executive of Insurance wide.com has issued the following advice to insurance seekers:Shop around for car insurance quotes before signing on the dotted line for your new car. Look for a competitive premium and a relevant (not just cheap) policy that covers you for the things that matter to you. Don’t just consider the price alone as quality of the insurance is also very important especially when it comes to making a claim.Be sure to compare policies on a like for like basis. Consider the excesses and exclusions carefully. A cheaper policy may be hiding a high excess and limited cover. Some insurers no longer include ‘Driving Others Cars’ as standard while others do not include a courtesy car. Read the policy carefully to ensure you have cover for all eventualities.Car insurers often offer better discounts if you choose to buy your car insurance policy online.Respect the ... More About: Car Insurance , Tips , Simple , Save
ND Leads Nation in Low Car Insurance Rates
2007-10-05 04:39:00 North Dakotans have the lowest average auto insurance premiums in the country.Acting Insurance Commissioner Rebecca Ternes says the Nation al Association of Insurance Commissioners report shows North Dakota`s rates are the lowest for the second year in a row."I think it`s a combination of things," says Ternes. "Certainly we don`t have traffic, we don`t have congestion, like a lot states do all the time.That helps us an awful lot but we`ve had a very good couple of years with regards to major storms and we haven`t had the huge hailstorms which in the past have gone through larger communities, so there haven`t been as many claims, that certainly helps the industry."Ternes says another reason for low car insurance rates is because it`s a competitive market in North Dakota. More About: Car Insurance , Leads , Rates
House, Senate at odds over no-fault car insurance
2007-10-05 04:35:00 TALLAHASSEE — An apparent agreement to reinstate no-fault automobile insurance fell apart at least temporarily Thursday as a state House panel placed restrictions on attorney fees their Senate colleagues say will doom proposed reforms.Following its chairman’s lead, the House Jobs and Entrepreneurial Council on a voice vote added attorney fee caps and restrictions on a proposal to reinstate the mandatory personal injury protection, or PIP, coverage that provides $10,000 in medical coverage regardless of who caused the accident.With two separate actions, the House panel struck an existing law that allows attorneys to collect higher fees when they win a case and then placed hard caps on the amount attorneys can collect.The House lead negotiator, Rep. Ellen Bogdanoff, R-Fort Lauderdale, said before the vote that her Senate counterpart had been rejected both provisions during negotiations spanning several months.Sen. Bill Posey, R-Rockledge and chairman of the House Banking and Insur... More About: Insurance , Car Insurance , Fault
Local car insurance firm expands into N.C.
2007-10-05 04:35:00 Altamonte Springs-based CarInsurance .com, which already offers insurance through its Web site in all 50 states, Canada and the United Kingdom, will add state-specific online capabilities and a call center in North Carolina, according to a news release.The firm will offer North Carolina residents insurance coverage through carriers including Direct General Insurance, Safeco Insurance and Travelers. It plans to offer more carriers in the coming months.The firm offers lower auto insurance rates by offering multiple insurance carriers on one Web site and through its call centers. CarInsurance.com offers carriers such as Progressive Auto Insurance in Florida; Travelers in Arizona, Indiana, North Carolina, New York, Oregon and South Carolina; and Unitrin Direct in Illinois and Minnesota. More About: Car Insurance , Local , Loca
Advice to help teens avoid a car insurance claim?
2007-10-05 04:34:00 Road safety charity Brake and transport firm FedEx have teamed up to create a Road Safety Academy, enlisting the help of Berkshire driving instructor Andy Milne to provide a presentation to students at a local school.Teenagers at Sandhurst School are set to receive a presentation from Mr Milne - a driving instructor of ten years - about the dangers of driving when drunk or on drugs, speeding and failure to wear a seatbelt - which may result in car insurance claims in the event of an accident.Mr Milne said: "Deaths and injuries of young people on the roads devastate families and communities. I hope that by teaching young people about the consequences of speeding, drink and drug driving and not belting up, I can make real difference to road safety in Berkshire."Brake recently offered free training on road safety issues for people who work with families and children.Car insurance customers could save up to 36 per cent on their car insurance premium with Kwik-Fit Insurance , according to... More About: Advice , Teens , Car Insurance , Avoid
Car insurance costs rise
2007-10-05 04:32:00 The cost of third party motor insurance has risen by 10% during the past year as insurers try to improve their profitability, a new report has said.The average cost of non-comprehensive motor insurance in August was £519, up from £473 in the same month of last year, according to accountancy firm Deloitte.Comprehensive cover has also increased during the past 12 months, although rises have been lower at 4%, taking average premiums to £458.The increases came despite suggestions that comparison websites were helping to drive down premiums, with more than half of new business now coming through the internet and these sites taking an increasing share of online sales.But the report said insurers were making a "concerted effort" to increase rates in order to improve their profitability.Deloitte added that motor insurance premiums had now risen in nine out of the past 12 months, the first period of sustained increases since 2003.Catherine Barton, insurance partner at Deloitte, said: "The... More About: Insurance , Car Insurance , Rise , Costs
Proposal would create insurance reserve
More articles from this author:2007-10-05 04:31:00 A regulation proposed Thursday by state Insurance Superintendent Eric Dinallo would require property insurance providers to create a catastrophe reserve fund to help pay claims caused by hurricanes and other natural disasters.The reserve fund would come from homeowners, business and other property holders in New York and would pay for claims whenever a natural disaster occurs, not just in a given year. It would change accounting and tax rules that allow companies to absorb the reserves into their profits if there is no natural disaster, Dinallo said."That leaves the companies with no reserves to pay huge claims from big hurricanes and consumers angry over ballooning profits and rising premiums," Dinallo said.Dinallo said his proposal would provide increased transparency, allowing consumers to see where the money they pay for hurricane protection goes, if it is not enough and whether there is a need for higher premiums."And they will see if the reserve is large and untouched and can ... More About: Proposal , Create , Reserve , Prop 1, 2, 3, 4, 5 |
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