Post Date September 30, 2012 – Although Deer may be good for pulling Santa’s Sleigh or a Front Yard Christmas Display; they are not very good in large numbers when mixed in with automobile traffic.  Ohio Car Insurance Companies need their customers need to be focused on being careful on the Buckeye States Streets, Roads and Highways as deer numbers grow during this mating season. Ohio car insurance companies concerned about the 2012 – 2013 Deer Mating Season say the months of concern start on October 1 and end January 30.

Ohio Car Insurance Companies Warn Motorists About Deer Collisions

Many Ohio car insurance companies have warned it’s auto insurance customers about deer-related claims and how to do your best to avoid.  Though records from Ohio car insurance companies show Deer related collisions dropped by over two percent  since 2010.  Ohio car insurance companies data show  there were 23,000 car crashes involving private passenger automobile and wildlife and in Ohio. Most of these accidents were with Deer and resulted in all types off personal property damage. In addition  to nearly a thousand deer accident related  injuries;  nearly 500 of these incidents when the roadways were dark. Ohio car insurance companies Collision and Comprehensive insurance coverage can be used to cover an Ohio auto insurance claim.  A car collision with any type of animal can be very, very expensive.  The Insurance Information Institute (III) estimated that Ohio car insurance companies pay an average Deer claim of $3000.00.

Five years ago I had a Deer related auto accident here in the State of Pennsylvania.  While I was traveling down a road close to my home in Bucks County PA, A deer jump onto the hood of my car and almost came through my windshield.  The damage to my car was extensive.  Not only did the auto insurance company pay to replace my windshield and Hood, my interior had to be cleaned when a 24 oz cup of spilt coffee was left to sit for days on my interior while sitting in the Body Shop Yard.

–Mike 

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 206

Post Date September 29, 2012 — An Automobile Market Study conducted in 2012 shows more United States citizens have focused their new car purchase on  smaller cars. GFK Automotive, an auto market research company used auto insurance rates and new car purchase data to prove American car buyers are preferring to buy smaller more fuel efficient cars.  30% percent of  those people born between in the decade between 1980 and 1990 will buy a smaller car in 2013.   The study does not show those buyers will buy a 2013 model year car.  It shows those 23 to 33-year-old buyers will buy a  smaller more fuel-efficient car.  The purchase and auto insurance rates data also identified the second highest interest in smaller cars will be the Pre-Baby Boomers or those old people born before the end of World War Two.

There is a parallel smaller cars  and higher auto insurance rates

In the market study,  auto insurance rates show that retail consumers are from Generations X and Y.  The majority of former retail consumers are those born between 1965 and 1979. The recent Auto Market Study conducted by GFK asked consumers from different age groups to rank different vehicle attributes which they find to be important in considering cars. The study identified both auto insurance rates and “taste” in vehicles of the different age groups when it comes to cars. A newer car model which is advertised in an  exciting way or those sport type cars which are much faster have been shown to be popular among those groups defined as Generation X and Y.  Drivers age  48 to 66 are part of this group. The 2012 GFK Automotive Study shows small cars can cost more to insure.  Why?  My opinion auto insurance rates are higher for smaller cars stems from medical and personal injury protection rates. Medical auto insurance rates are higher because the cost of those healthcare bills are much higher when a smaller car in involved in an auto accident.

My opinion is backed up by auto insurance claims data released by the Highway Loss Data Institute.  HLDI show the high rates from auto insurance claims for those injured from smaller cars such as the Toyota Yaris are not inexpensive.  This forces car insurance carriers to raise their auto insurance rates for personal injury protection coverage.

-Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 206

Post Date September 28, 2012 — Anyone whom knows me or has read my Blog know I can’t stand lying and or stealing.  Although anyone caught stealing  is an reprehensible act. If any licensed professional whom is responsible for a clients trust and money and makes a conscious effort to deceive and abscond with these funds should be severely punished.  This is exactly what happened to a Missouri Auto Insurance Claims Attorney.  After pleading guilty to charges of mail fraud, a Missouri auto insurance claims lawyer who stole insurance checks intended for his Missouri Auto Insurance Claims clients is on his way to jail and must repay nearly $500,000.00 stole from his clients.

Missouri Auto Insurance 

Jonathan D. McKee, Esq. admitted this last March he stole Missouri auto insurance payouts amounting to nearly $500,000.  These Missouri  auto insurance claims funds where to go to the lawyers clients. According to Missouri prosecutors, the thefts happened between 2007 and 2011.   Many of these clients were severely injuried were  owed Missouri Auto Insurance claims checks. McKee had legally represented  these Missouri auto insurance customer who were injured or had negligence  law suits. McKee’s legal representation of these folks was on  a contingency basis and the financial settlement payments to these clients are based on if he wins. The U.S. Attorney’s Office had said that  McKee won the cases for his clients. Instead of turning over a check to those clients from those Missouri auto insurance companies, he kept all the money for himself.

In March  of this year, the accused appeared before a U.S. District Judge where he admitted stealing the money and pleaded guilty to the charges.  On September 10, McKee received his sentence. After being charged with a felony last year, McKee was disbarred from the states in the states where he practiced law.  The states where McKee maintained a law license was Missouri and Illinois.

–Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 206

Post Date September 27, 2012 — Car insurance rates in Ohio are dictated by many different but specifically separate factors.  There are different types of risk characteristics which the Ohio Department of Insurance would use as a definition of a car insurance risk or an item which any actuary will use to determine car insurance rates in Ohio. Comprehensive auto insurance coverage is commonly referred to as; “fire and theft” and or “other than collision insurance coverage”.  Sadly; the value of your car, truck or SUV will determine the high or low percentage of your type of vehicle being stolen.  Comprehensive car insurance rates in Ohio  are also determined by a vehicles value.  You can buy “other than collision” insurance coverage to cover you vehicle for both theft incidents and vandalism.  This means that if you want to maintain auto insurance coverage in the event that your vehicle is stolen or vehicle parts such as air bags, tires and rims are stole from your car –  you will coverage for that.

Car Insurance Rates In Ohio Are Lower At (800) 807-0762

When an auto insurance carrier formulates its car insurance rates in Ohio, theft statistics must me considered. In order for an auto insurance company to stay profitable, theft statistics must be considered. Even with the high rate of auto theft in the state of Ohio, car insurance rates in Ohio are among the lowest rates in the country.  The automobile larceny data from the Uniform Crime Reports of the Federal Bureau of Investigation (FBI) show the State of Ohio is in the top 10 states with most vehicle thefts in 2010 and 2011. The data indicates over twenty thousand cars were stolen in Ohio in 2010 alone.  Automobile theft  in Ohio is ranked 9th among the highest states with California topping the list with over one hundred and fifty thousand vehicles stolen in 2011 alone. In that year, there were near one-quarter of a million vehicles stolen in the entire United States of America.

—Mike 

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 206

Post Date September 25, 2012 — The best auto insurance rates in Alabama are now available.  Those mature drivers whom have reached the age of 55 can now take advantage of the best auto insurance rates in Alabama.  Although the Alabama Department of Public Safety classify those age 55 and older and Senior Citizens – they’re out of their minds.  I’m going to be 51 in November and have a 14-year-old son.  I can tell you from experience; “I’m nowhere near a Senior Citizen.  Bottom line, those middle-aged Alabama drivers who have reached the age of 55 years and above  are in for a treat.  The state of Alabama has pulled out all the stops and made auto insurance discount provisions for their safest and most mature drivers. Middle aged drivers 55 and older can now take a new driving course which will provide them a certificate of completion.  When you provide that certificate to one of our licensed agents, he/she will make sure you have the best auto insurance rates in Alabama.

The Best Auto Insurance Rates In Alabama Are Reserved For Their Most Mature Residents

Alabama lawmakers approved auto insurance legislation allowing  to qualified for the state-mandated automobile insurance premium credit by attending the  driving course online or in a classrooms. They will also offer refresher courses on defensive driving and changes in Alabama State Driving Regulations. The driving courses are being sponsored by the National Safety Council,  American Automobile Association,  American Association of Retired Persons and the Alabama Department of Safety. Alabama is not the only state offing these type of classes. The are over 30 US States  offering auto insurance rates discounts for qualified mature drivers.  Here in Pennsylvania, we offer a similar program called “55 Alive”.  The Insurance Institute For Highway Safety have statistics which show these mature safer drivers have a lower incidents of auto accidents  than any other age.  On the other hand, a higher fatality rate is being attributed to much older age 65 and older.  The frailty of these older drivers make them less likely to survive serious auto accidents. The National Highway Traffic Safety Administration had pronounced that in 2009 over 5000 people aged 65 and above were killed in vehicular crashes across the United States.

   –Mike 

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 206

Post Date September 24, 2012 – This week nearly two years after the bill was signed allowing New Jersey to license and regulate captive insurance carriers, the New Jersey Insurance Department held a major event on September 19, 2012 .  For those of you whom are not familiar with the term Captive Insurance, Captive Insurance is another way of referring to Reinsurance.  For example; we represent Personal Service Insurance Company (PSI).  Just like you when you purchase auto insurance to transfer risk; an auto insurance company like PSI would do the same.  They can buy insurance to help them shift some of their risk.  All Auto Insurance Companies do this to keep their balance sheet healthy.

New Jersey Insurance Department Holds Summit For Reinsurance Company Executives

The New Jersey Insurance Department  held its first captive insurance summit on Wednesday.  The meeting, sponsored by the New Jersey Insurance Department in Trenton, NJ  was able to interest approximately 50 major executives from captive auto insurance industry to attend.  The New Jersey Insurance Department regulators and representatives discussed New Jerseys’ captive insurance rules, regulations and its administrative processes.  New Jersey Insurance Department Representatives also took the opportunity to touch on the emerging trends and complex issues the reinsurance insurance industry faces in the Garden State.

This captive insurance summit was the first held by the New Jersey Insurance Department. It also incorporated two panel discussions. The first  Panel Discussion focused on New Jersey State Insurance Laws. What a captive insurance carrier could expect navigating the  waters of New Jersey insurance environment  as a potential applicant. The second panel discussed the risk issues faced by the insurance industry in New Jersey and how this would affect companies , owners and or stockholders. One issue discussed was the hardening insurance market and how claims exposures have caused premium increases in recent months. Other topics touched on were Reinsurance Reform Act and the Terrorism Risk Insurance Act.Since the roll-out of the NJ’s new insurance laws, four new insurers started doing business in New Jersey. Eight other captive insurance companies are waiting for approval.

If being a captive insurance company will allow New Jersey Insurance companies to have greater control on their risks, many more carriers will consider the Garden State to do business  The NJ’s captive insurance bill was signed into law by Governor Christie last year.

-Mike 

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 206

Post Date September 22, 2012 – Auto insurance claims data released by the Highway Loss Data Institute (HLDI) yesterday, Thursday, Sept. 20, shows cars built between 2009 and 2011 have been much most costly to repair. The study used data from insurance claims after 2008.  As for claims coming from (PIP) coverage, showed the Toyota Yaris has the highest frequency of claims, with an average of 28.5 claims per insured vehicle. The Porsche 911 holds the record for the smallest number of PIP claims. The study showed the most of the Personal InjuryProtection claims are from small cars. Pickup trucks and SUVs like Ford Explorers and F-150 have the lowest number of claims.

The Cost Of Auto Insurance Claims Is Sky Rocketing In the US

As for vehicles whose cost are below $30,000, the study indicated the Mitsubishi Lancer 4WD cars has the most number of costly claims.  In a year, 1 of 9 Lancer 4WD owners had filed auto insurance claims with their collision coverage having an average losses of $6,000 each.  The Wrangler Jeep 4WD brings the least number of collision claims among vehicles that cost under $30,000. One in thirty five Wrangler Jeep 4WD  in a collision  filed a claim last year.  The average loss of $135 per year.

As for the cars which have the the highest auto insurance claims is the Ferrari California. The average claim filed for this car is only 1 in every 38 Ferrari California. But, it has been said that insurers face average auto insurance claims of $2,132 per accident. Ferrari California auto insurance claims are seven times higher than the average losses of other cars.

The study is now being used in the NTSB which are being distributed to auto dealers, auto body shop and car shoppers which vehicles are most likely susceptible to accidents and is most likely to be expensive to insure.

-Mike 

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 206

Post Date September 18, 2012 – I don’t understand theft! People who steal are scum in my opinion.  That may be a little harsh, but it’s true.  If there are two acts I can’t stand most of all, it’s stealing and lying.  When they are perpetrated by those in any business, it’s makes me very angry.  A Local Insurance Agent in New York was charged with larceny and scheme to defraud after he allegedly stole nearly $650,000 in auto insurance payments from his customers.

Local Insurance Agent Charged With Larceny

The local insurance agent,  Joseph Koch owner of The Louis Koch Insurance Agencies Inc., based in Baldwid, New York was alleged to have stolen insurance premiums paid by a company engaged in commercial property management in the period between June 2009 to June 2011.  The local insurance agent spent the money on lease payments on a Mercedes Benz car, country club memberships, his residence mortgage payments, trips to Las Vegas, and  his personal income taxes.  The local insurance agent was charged with multiple counts of grand larceny and devising a scheme to defraud his New York and New Jersey Auto Insurance Customers.  Koch was arrested by Nassau County district investigators. The local insurance agent was under investigation by both the states Department of insurance and the District Attorney’s Office. Nassau County District Attorney says the local insurance agent is also faced with “potential serious liability issues”.

The bottom line is; the insurance payments stolen to pay for Koch’s Car’s, Trips and goodies did not get remitted to the insurance companies they we intended.  This means the customer whom were under the impression the were insured for the premiums they paid for – the coverage was null and void.  Any claims which were incurred during the time the customer’s policy was cancelled would become the responsibility of the local insurance agent.  Considering Koch is accused with stealing the missing insurance payments, the agencies Errors & omissions Insurance Policy will refuse to compensate any customers for losses they may suffer.  Anyone whom intentionally steals funds which don’t belong to them is an overt act and not an error or omission.

-Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 206

Post Date September 17, 2012 –  Even though our New Jersey streets, roads and highways are primarily used by private passenger cars and SUV’s, their use by NJ commercial vehicles pay much of the annual revenue to maintain these roadways.  Sometimes when both cars and trucks occupy the same roadway space, accidents happen.  Although every private passenger car or truck is required to car insurance; business trucks are required by both state and federal law to maintain different types of NJ Commercial Truck Insurance. Not only must a truck state maintain NJ Commercial Truck Insurance to cover damage caused my the vehicle – they must carry NJ Commercial Truck Insurance for dangerous cargo.

A recent fatal accident on the New Jersey Turnpike which killed a Toms River man just proves why maintaining NJ Commercial Truck Insurance is so important.

Last Tuesday on the 11th anniversary of September 11, two commercial trucks collided near New Jersey Turnpike’s Exit 8 that caused the immediate closing of  the southbound lanes to both private passenger and commercial truck traffic. Firefighters from Hightstown, East Windsor, and Cranbury rushed to the scene of the incident.  All the NJ Turnpike’s southbound lanes were closed for hours while authorities investigated the collision and removed of the damaged vehicles. According to reports, at around 12:26 a.m., Phillip Frey, 33, of Toms River, N.J., was driving his box truck  when he rear-ended a United Parcel Service tractor trailer. It was immediately obvious Phillip Frey was not paying attention and cause the accident.  Both the box truck and the tractor trailer exploding in flames according to the New Jersey State Police. Frey reportedly died at the accident scene while the driver of the other drivers name has not yet been released is not yet available. The UPS Driver survived the incident without any injuries. The victims family will be paid by the NJ Commercial Truck Insurance if the policy carried an accidental death endorsement.

Accident information from the New Jersey Turnpike Authority shows in the last decade accidents on the NJ Turnpike reached 80,000.  7000 of those accidents were considered to be fatal.

-Mike 

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 206

Post Date September 15, 2012 – A Federal Court Judge ordered a Texas Insurance Company to pay for the major clean-up from a tarry type material one of their client spilled all over the Pennsylvania Turnpike in 2011.  A claim of such magnitude of such a claim will cause the truck insurance rates of any company. On September 7th U.S. District Judge Joy Flowers Conti ruled that Hallmark Specialty Insurance Company of Texas to cover all clean-up costs and any claims against a MTS Transport a Trucking Company from Stevensville, Maryland.  The most interesting thing about the claims payment is MTS Trucking company did not request not pay for the environmental pollution endorsement on their truck insurance policy

Texas insurer’s truck insurance policy pays excess coverage

The spill occurred  November 22, 2011 on the Pennsylvania Turnpike.  An MTS Transport tanker truck which had damage to it’s containment cell leaked a chemical call asphalt flux.   The very sticky and gooey compound leaked out of the containment trailer over a 40-mile stretch on the eastbound toll road, between Oakmont Fuel Plaza and the New Castle Exit. For those whom are not aware of what Asphalt Flux is used for; it’s a chemical used in the roofing trade. The Hallmark Specialty Truck Insurance Policy will be paying for over 1,000 damaged vehicles travelling from 16 different states,  damaged  tires, engines and other trucks and vehicles which drove through that stretch of the PA Turnpike after the spill and before it was cleaned up.  MTS Transport only had a $1 million Truck Insurance Policy through The Travelers Indemnity Company.  Although the one truck insurance policy had $1,000,000.00 limit; the claim filings show the coverage will not cover all of the damages brought about by the accident. The enormity of new cars which were damaged was quite upsetting to the courts. Many of the claims were for  recently purchased expensive cars. MTS Transport whom had the other truck insurance policy, Hallmark Specialty was underwriting a $4-million excess liability policy.  The truck insurance company refused to pay for the spill claims since they were not responsible for underwriting Pollution. When MTS Transport was to be responsible for paying the entire claim itself, it filed a law suit against  Hallmark.  When the case came before the U.S. District Court, it ordered their truck insurance policy company to pay for the damages.

-Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 206