Officials from the state Department of Insurance have stated that they need to clamp down on the medical benefits that are paid by the auto insurance companies after the accidents. They claim that this will prevent companies from fleeing N.J. However, the skeptics claim that its anti-fraud net has been cast too wide.
A series of changes have been planned for the PIP or Personal Injury Protection in auto insurance. About four hours of testimony was heard on Thursday by the Assembly Financial Institutions and Insurance Committee.
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Aviva has launched MultiCar, a motor policy aimed at families with a collection of drivers and vehicles.
Husbands, wives, common-law partners and any relative living under the same roof can insure up to five cars or vans per household.
Students who live away from home during term time qualify too, and Aviva MultiCar will also cover a small business or partnership, where all vehicles are registered at the same business address.
Main policy features include:
1. Discounts for each additional car or van added.
2. A single renewal date and one set of policy documentation.
3. Each driver’s no claims discount (NCD) is kept separate so if one driver has an accident, this only affects their own NCD.
4. T
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As a responsible manager of a transport company, you are responsible for the life and health of your drivers, about the good condition of the cars and about the integrity of the goods that you transport. While some managers prefer to take an insurance contract for any transport, driver and truck, a smart person would contact a company to request car insurance companies and quotespackages. This way, you will only need one contract and all your material and non-material belongings will be protected.
The damage degree is established as a percentage, based on the observations of the representative of the insurance company and the representative of your company. Read more…
Michigan legislators have introduced another bill aimed at modifying the state’s no-fault auto insurance system that they claim would “preserve the integrity” of that system while offering consumers greater choice.
The proposed legislation could potentially relieve coverage providers of the obligation to provide unlimited medical coverage by allowing motorists to choose from one of four levels of personal injury protection (PIP).
Currently, Michigan is the only state that requires insurers to cover up to a lifetime of medical and rehabilitative costs for vehicle accident victims who suffer catastrophic injuries.
Under the state’s system, which was implemented nearly four decades ago, policyholders statewide pay into a catastrophic claims fund that helps finance PIP claims greater than $500,000. That pa
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Kentuckians got into more accidents in 2010 when compared with 2009, but the total economic damage caused by crashes in the state ended up falling, according to a new report from the Kentucky State Police.
The state saw 2,757 more accidents in 2010 compared with 2009an increase of nearly 2 percent.
At the same time, the total economic cost of accidents in the state dropped by about $68 millionor 3 percent.
The decline in costs despite the overall increase in crash volume can at least partly be explained by year-to-year adjustments made to the variables that are used to come up with those numbers.
But even if the same variables were carried over to the 2010 data, the overall costs still would have dropped.
Thats because another contributing factor to the cost-drop was the fact that property-damage only and possible injury crashes accounted for the majority of the increase in crash volumes.
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A sharp increase in claims have been driving up auto insurance and homeowner premiums in the state of Florida, although the state has not been hit by a hurricane since the last five years, a new study has shown.
In the last six years since Hurricane Wilma hit Florida, there has been a sharp rise in ‘everyday claims’ as well as the new and reopened claims from the past storms, that have gone up by 80%.
Lynne McChristian who is Florida’s representative for the Insurance Information Institute has stated that Insurers are seeking rate increases based on a number of factors. They
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Having a health insurance policy is the norm rather than something strange nowadays. You might think that it is not worth the effort and a waste of money. However, just ask anyone who has had to undergo the hassle of paying for his medical bills by himself and you will probably be singing a different tune in no time. There are so many benefits of having health insurance. These are just a few of the advantages that should make you reconsider your decision.
Having health insurance really eases your mind. Rest assured in the confidence that if anything were to happen to you, you will be fully covered by your policy. Of course, it all depends on the type of policy that you have applied for in the first place. Read more…
There is an awful lot of concern about the British economy right now. Today it was announced that it had grown less than expected in the last quarter, meaning that although there was improvement it was only very slight improvement and thus there is still significant cause for concern. However, what may also be of concern to you is the fact that there seem to be a lot of closures of financial institutions or transfers of customers from one brand to another lately. For example, Egg is reportedly transferring all of its savings and mortgages to the Yorkshire Bank and the Co-op recently stopped doing life insurance.
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