Tag Archive: Financial Services


Auto Insurance Measures

winter-accessoriesTwo bills have been introduced that will be a solution. House Bill 2513 and Senate Bill 6252 would ban the practice of using a person’s credit history, education or income to set insurance rates.

Driving records and vehicle-safety records are reasonable factors for insurers to consider when pricing insurance; A person’s income, education level and credit score are not.

With our economy in recession and unemployment in Washington at 9.5 percent, there is absolutely no reason we should allow insurers to squeeze already-vulnerable families on a discriminatory basis. View Full Article »

vw_car_driveCar insurance customers who are driving their cars for business use might not have adequate protection.

The comparison website has identified a rise in the number of workers being asked to use their personal cars for business use, without necessarily warning them of the car insurance implications.

Found that 72 per cent of UK workers have used their own car for business use in the last 12 months, but only 35 per cent do not have business cover included in their car insurance policy and therefore risk driving without sufficient protection. View Full Article »

car-insurance-teens-just-passed1Motor Trade Insurance Is  Necessary for Motor trading business, If you’re in the car trading business, the most important aspect of your business is always the best possible price.

The only way you can make money for your business, if the lower price, lower price for the repairs (if required for the issue), and the highest price possible. All these things are very important for dealers to be able to make a profit. However, there is something very important missing from the puzzle, and car dealers, insurance is.

Car insurance trade is very important for the automotive trading activity as they protect the assets you can acquire while traveling or not. View Full Article »

disabilioty insuranceNo one can predict when accidents happen. That being said, it would be wise and of course safe if you have a disability insurance plan. In case anything bad happens to you, at least you would still be able to provide money for the household expenses.

Further delay of acquiring this type of insurance is not a good idea. Insurance companies evaluate some factors that would affect the rate of the plan and one of those determinants is your age. The better your physical condition is, the cheaper the price will be.

Pre-existing conditions are also considered by the insurers. Expect for a higher rate should you have any medical problem. View Full Article »

downfall_1Due to a budget shortfall, Lexington’s Urban County Government is dropping health insurance coverage for 556 employees of “outside agencies”. These are organizations that are connected with, but not directly run by, city government. In reference to 2008 spending, reducing employees of the 20 organizations from Lexington’s insurance plan would save the city $506,218 a year.

“The satellite agencies had been paying only their premiums,” said Susan Straub, spokeswoman for Mayor Jim Newberry. “… They were not funding the full cost of their health care.” View Full Article »

Car insurance coverage is a legal requirement for every car owner but said consumers should not be paying too much particularly in times of financial hardship and with Christmas just around the corner when expenses are shooting up.

The most important way to save on your car insurance premium is to be smart and look around to look for the best deal. This would easily enable consumers to save at least £157. A consumer can save an additional £39 by adding a partner to the policy.

Another convenient way to save on your cash is by car-pooling to save on mileage. This will save you at least £12, you can also take a full comprehensive coverage of your car instead of third party (additional £90).

Young drivers can also add an older relative to their policy which could mean savings of up to £601. In all, you can save a total of £909 on your auto insurance, the company said.

“At a time when we are likely to be splashing out on Christmas presents, it is important people remember that their outgoings can be trimmed by shopping around and taking several easy steps to reduce their insurance premiums.”

OVER 40,000 people have cancelled their private health insurance following pay cuts and insurance premium hikes.

Some 2pc of the 2.27m people with health insurance have stopped their payments because of the growing pressure on their incomes, an Oireachtas committee heard yesterday.

That leaves another 40,000 relying on the already-under- pressure public health system.

Younger people account for the highest proportion of those cancelling their insurance, according to Hibernian Aviva Health. It told TDs and senators that 74pc of those who left its company in the last 12 months were under the age of 40.

The number of those forced to cancel their private health insurance coverage is likely to increase “significantly” in 2010, according to managing director Jim Dowdall.

“Against the backdrop of last week’s Budget, where in excess of €1bn in cuts are to be made in the health budget, it is clear that the public system will be less able to cater for the current level of demand placed on it, never mind respond to a significant increase in demand as a result of a reduction in the number of people who will be able to access private health care,” he said.

The largest of the healthcare companies, Vhi Healthcare, told the Oireachtas Committee on Health it will generate losses of over €80m this year in meeting the needs of its customers.

The company has lost almost 120,000 to its competitors, and through cancellations. Yet, it will have more customers over the age of 60 than it did at the start of the year. In 2009, it will have lost €170m in meeting the healthcare needs of customers over the age of 60.

Chief executive of VHI Jimmy Tolan said these level of losses were “unsustainable” in a highly competitive marketplace.

“Our younger customers have to fund the healthcare costs of our older members if they remain with Vhi Healthcare but they do not have to fund these costs if they move to Quinn or Hibernian,” he said. “In 2009, our average healthcare costs per customer will be €900 which is almost double our competitors.”

Donal Clancy of Quinn Healthcare claimed the overall market was “shrinking” as affordability becomes an issue.

The levy on healthcare policies is a “stealth tax that supports the inefficiencies of VHI”, he said.

The primarily large workplaces spent an average of $8,376 per employee on health benefits, according to a survey released Wednesday.

The relatively modest increase followed four years of cost increases above 6 percent for employers who subsidized employee health insurance. Employers, expecting a 10.5 percent rise if they didn’t make changes, increased deductibles and other insurance terms to shift more costs to employees.

The numbers were charted by Mercer, a benefits and management consulting company, in its annual National Survey of Employer-Sponsored Health Plans.

Some other points:

About 4 in 10 Kansas City employers will raise deductibles, copays, coinsurance or out-of-pocket maximums for their employees in 2010, the survey found. Half said they will raise employees’ share of the premium contribution.

Nearly 1 in 3 of the companies said they were offering health savings or health reimbursement accounts this year and intended to do the same next year.

Preferred provider organizations remain the dominant health delivery system for Kansas City area employees, Mercer found. More than 6 in 10 of the covered employees are enrolled in PPO or point-of-service plans.

About 1 in 4 are in health maintenance organizations, about 1 in 10 in consumer-directed health plans, and only about 1 in 100 are in traditional indemnity plans.

A new development is being perceived in Syracuse, city in and the county seat of Onondaga County, New York, United States, regarding insurance. Syracuse car insurance quotes are increasing these days and this feature astonishes many people without a shred of doubt. Is this is a part of the sinister designs of insurance providers or the specimen of forthcoming troubles?

Well, analysts do brush all these ideas aside and consider this Syracuse car insurance as quite natural. As per them, car accidents, as a rule, give rise to an increase in insurance premiums. Although you are not responsible, the insurance company will have to incur some costs and there is hardly any other option. What’s more, a high increase in car premiums and policy quotes do take place since the accident is destined to be rated against your coverage. View Full Article »

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