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Monthly Archives: November 2011

United States Disaster Declarations Escalate To Unprecedented Levels In 2011

United States Disaster Declarations Escalate To Unprecedented Levels In 2011

Monday’s Post 11/21/11 –  It has emerged that the first nine months of 2011 have seen federal government officials make at least 86 disaster declarations in the United States. Insurance industry pundits have predicted a further spike in this number by year-end.  According to Robert Hartwig, who is the Insurance Information Institute (III) president, the last… Continue Reading

Suspension Of National Flood Program Threatens Home Mortgage Industry

Suspension Of National Flood Program Threatens Home Mortgage Industry

Over the last several years, the US Mortgage Industry has taken a financial hit on several fronts.  The near bankruptcy of mortgage banks and the same for Fannie Mae and Freddy Mac has created a climate of uncertainty and fear. The eminent expiry of the National Flood Insurance Program (NFIP) has triggered  more uncertainty in the mortgage… Continue Reading

Insurance Companies Repay nearly $4 Million to Connecticut Insurance Department

Insurance Companies Repay nearly $4 Million to Connecticut Insurance Department

Saturday’s Post 11/19/11 – As the end of  2011 approaches, the state of Connecticut has been on the receiving end of extreme weather conditions. It begun with the States worst ever snowstorm in October, coupled with floods that caused serious damage to property. As a result, residents turned to Insurance Companies for compensation. According to the… Continue Reading

Oklahoma Auto Insurance Law Gets Tough On Uninsured Motorists

Oklahoma Auto Insurance Law Gets Tough On Uninsured Motorists

Friday’s Post 11/18/11 –  A new car insurance law  started on November 1,  2011 will make life a lot more uncomfortable for those motorists without auto insurance in the state of Oklahoma . Oklahoma has one of the highest rates of drivers without insurance, which now stands at 25 percent of the driving population, almost twice the national average of 14… Continue Reading

Insurance Agent Pays Back $1.7 Million Unlawfully Obtained

Insurance Agent Pays Back $1.7 Million Unlawfully Obtained

Thursday’s Post 11/17/11 –  Connecticut regulators have agreed with, William Gallagher Associates, a Property & Casualty Insurance Agent based in Massachusetts, to  pay $100,000 in penalties and give back $1.7 million to the Connecticut’s State General Fund. The penalties are part of the settlement between the insurance broker and Connecticut regulators over a case filed by Milford Power Company,… Continue Reading

Weak Economy Makes Auto Repair Bills Out Of Reach For Car Owners

Weak Economy Makes Auto Repair Bills Out Of Reach For Car Owners

Wednesday’s Post 11/16/11 – This week the American Automobile Association released survey results  showing that a $2,000 car repair bill is now out of reach for at least a quarter of the total US population whom own a car.  A $1000.00 car repair bill did not fare much better. While releasing the results,  American Automobile Association vice… Continue Reading

New Jersey Medical Professional Liability Insurance Companies Show Profits

New Jersey Medical Professional Liability Insurance Companies Show Profits

Tuesday’s Post 11/15/11 – Insurance ratings firm, A.M. Best,  released a report indicating that Medical Professional Liability Insurance (MPLI) providers in New Jersey are enjoying stong profits.  The report, released on the 2nd of October, evaluated MPLI market conditions that prevailed from 2010 to the beginning of 2011. Notable issues covered by the report include tort reforms, mergers and acquisitions,… Continue Reading

Fed Rolls Out Affordable Health Insurance Exchanges

Fed Rolls Out Affordable Health Insurance Exchanges

Monday’s Post 11/14/11 – The US Treasury with the Department of Heath and Human Service (HHS) has allocated more funds, for building out an affordable Insurance Exchanges.  Governors in most states received the first batch of $50 Million grants last year to commence plans on the Health Insurance Exchanges. This time round, thirteen States received $185 Million Dollars accompanied by… Continue Reading

Should Penn State University Keep its Football Program?

Should Penn State University Keep its Football Program?

Sunday’s Post 11/13/11 – I know my Blog is normally reserved for the subject of Auto, Home and Health Insurance.  Please give me a pass for deviating from the subject of insurance. Sadly; a local Pennsylvania news story has become a nationally reported tragedy.  As a parent,  no a human being – the story disgusts me.  Although over the years I have cringed reading other stories… Continue Reading

New Jersey Auto Insurance PIP Rules To Be Reviewed

New Jersey Auto Insurance PIP Rules To Be Reviewed

Saturday’s Post 11/12/11 –  Over the last few days, I have discussed Personal Injury Protection (PIP) and the two states in the U.S. which are responsible for the highest mandated amounts.  For some time now, New Jersey’s auto insurance companies have fled the state because of what they claim to be excessive PIP benefits  being  levied on car insurance companies… Continue Reading