After the hurricane season of 2005, many insurance companies are pulling out of the homeowners insurance market. They claim that they cannot handle the amount of losses and that the government should take a bigger role in providing catastrophe insurance…
Posts Categorized In: Insurance Operations
Insuring a Classic Car
I have written before about insuring a classic car. It is different than insuring any other type of car because your car will INCREASE in value, instead of depreciate. The NY Times has a story about Hagerty Insurance. They may…
A Lesson About Insurance Companies
Insurance companies get people to complain about their premiums. Admit it, most of you have probably complained at one point or another about your premium. I know I have. Now, regular readers of my blog know that insurance companies had…
Hartford Ins. Accused of Charging Illegal Fees
Hartford Insurance has been accused by the Department of Insurance of charging an illegal fee. The fee was charged by a general agent of Hartford’s and Hartford denies any wrongdoing on its part. Hartford is also, according to the company,…
Insurers Set Record Profits
This may come as a surprise to some. After all, we had hurricanes (two), other disasters, storms like crazy, and your average, everyday claims. But, despite all this, the insurance companies had record profits for last year. How can that…
FAQ: Insurance for your kid
The SF Chronicle has a great story about getting insurance for your child. Remember my prior post where I suggested you get your 18 year old his/her own car and titled in his/her own name with his/her own policy. Well,…
GEICO To Offer Refunds
GEICO has agreed to settle a lawsuit brought by the Foundation for Taxpayer and Consumer Rights. GEICO will provide refunds of approximately $63 to California customers who were denied a discount because they did not provide proof of insurance when…
Mass. Dog Owners Fighting Back
According to the Boston Globe, Massachussets dog owners are mad at insurance companies. Why? Because the insurance companies are cancelling policies based on dog breed. Here is the argument. Insurance companies say that certain breeds are dangerous. Why are they…
Allstate Pulls out of Ohio Earthquake Market
Okay, by itself many of you who read this article probably do not care. After all, most of my readers are in California, and even those in Ohio should know that there is twice as much premium for small aircraft…
Insurers Outsource to Save Money
I received a press release today that you can read here. Quite nice press release and the website for the firm is excellent. I would like to see a little more meat in the release, but really, if that is…