Insurance Analysis
Highly qualified and experienced insurance industry consultants
Allstate Insurance Sets Trend for Higher Rates Among Major Insurers
Allstate Insurance announced some time ago that it planned to take a number of steps to raise the home insurance rates of its customers. Now, company executives say they believe other major insurers plan to follow its lead by increasing their own customers premiums.
Allstate Insurance Raises Home Insurance Premiums
In February, Allstate Insurance CEO Thomas Wilson announced plans for his company to increase profits and offset rising claims costs after a few hard years of natural disasters by raising home insurance rates.
One approach Allstate has taken to raise rates is a new product called House & Home, which pays customers who make roof claims on their homes the actual cash value if the home is older than 10 years, rather than offering the amount needed for replacement.
The company said if the homeowner wants a new roof, they will have to cover the cost above the old roofs depreciated value on their own. They can also purc
White House Denies Health Insurance Premium Hikes in 9 States
Health insurance premium increases have been deemed unreasonable in nine states by the Department of Health and Human Services (HHS), Secretary Kathleen Sebelius. The departments ability to review insurance hikes is new authority granted by the Affordable Care Act.
Health Insurance Increases as High as 24 Percent
Two insurance companies facing criticism for excessive health insurance increases include John Alden Life Insurance Company and Time Insurance Company.
Nine states are to be affected by the premium increases Arizona, Idaho, Louisiana, Missouri, Montana, Nebraska, Virginia, Wisconsin and Wyoming.
The History of Mercury Insurance and Its Controversies
Mercury Insurance has been the center of controversy over the past few years for its connection with a California auto insurance measure that could force a surge for customers who allow their coverage to lapse.
It may seem like Mercury came out of nowhere and suddenly began having a huge impact on California auto insurance. In truth, however, Mercury Insurance and its owner have been around for some time.
The History of Mercury Insurance
Mercury Insurance was founded by George Joseph in 1961.
Know Your Commercial Business Insurance
Business insurance can be a tricky road to drive when it comes to choosing the coverage that your business will need to stay protected and healthy. This is where knowledge of commercial business insurance is needed in order to protect your business. One of the things that may not be understood is how this would affect the small business. Small businesses need the same protection that bigger business does. However there is a separation of legality in regards to the fundamentally different types of insurance. One would be required by law while the other may not be.
This is where it pays to know the difference between the . Read more…
Informed consumers can save money on home insurance
Asking the right questions can go a long way toward obtaining the best home insurance coverage and the best price, the Insurance Information Institute (I.I.I.) said in a recent report.
According to the I.I.I., being an informed insurance consumer involved both scrutinizing your current home insurance policy and also seeking out answers after a thorough examination.
Besides knowing the basics of what a standard homeowners insurance policy covers, consumers should ask a series of questions, and receive satisfactory answers to each of them, before buying a new policy, or renewing an existing one, Michael Barry, Vice President of Media Relations at the I.I.I., said in a statement.
In the report, the I.I.I.
Allstate Homeowners Insurance Rate Soars Above National Average
Homeowners insurance rates are expected to climb considerably in 2012 after years of steady increases, according to the Insurance Information Institute. The agency said that premiums of major insurance companies like Allstate and others will likely rise above the national average premium of $1,000 for the first time in history.
Homeowners Insurance Premiums to Jump 5 Percent
The Insurance Information Institute revealed that homeowners insurance premiums will experience a significant hike during 2012. The average cost homeowners will pay for their coverage this year is expected to rise to $1,004, which is a 5 percent hike from last year.
For some states, those average insurance costs could push even higher.
Cost-effective ways to insure a teenage driver
Becoming licensed to drive is a high priority for most teenagers. Driving a car fulfills their need to transition from child to adult, sort of. Unfortunately, with all the cars on the road today, teenagers are “accident prone.”
Accident statistics paint a graphic picture
Our future leaders have a woeful driving record when they’re first licensed. Their inexperience behind the wheel and on the roadways appears to result in disturbing numbers of auto accidents.
A troubling statistical example: Auto accidents are the leading cause of death in young people ages 15 through 20. Another statistic displays the value of more maturity and driving experience: 16-year olds are three times more likely to have an auto accident than 19-year olds. Teena
Why Lawmakers Can’t Stop Health Insurance Premium Hikes
Over the past few years, a number of companies have increased their health insurance premiums, while other companies have attempted to increase rates but decided against it due to pressure from lawmakers and regulators. Whats interesting about these rate increases, successful or not, is that the federal government was unable to step in and stop them.
Why Health Insurance Premiums Are on the Rise
Health insurance companies faced scrutiny in recent years due to the massive increase in health insurance premiums. A study released in Nov.