Judge Moves Case Challenging Health Care Reform Ahead
Posted on October 17th, 2010
A federal judge in Florida announced that a lawsuit could proceed that claims that requiring Americans to buy health insurance is unconstitutional. Twenty states are involved in the lawsuit. US District Judge Roger Vinson rejected an effort by the Obama administration to have the case thrown out, according to the Los Angeles Times. Vinson’s decision was similar to one made by a federal judge in Virginia. “To say that something is ‘novel’ or ‘unprecedented’ does not necessarily mean that it is ‘unconstitutional’ or ‘improper.’ There may be a first time thing for anything,” Vinson wrote in his 65-page ruling, according to the LA Times. Continuing he wrote, Read more…
Yellow ‘Money Box’
Posted on October 17th, 2010
A traffic camera at Battersea Bridge Road, London is set to make £1 million a year in fines, on what looks like helpless motorists. The traffic camera that is positioned at a traffic lights at a junction, issues motorists with a fine if they stop for longer than 6 seconds in the yellow box. Due to a major road closure in February, the junction is often the scene of major congestion and hold-ups and so the allotted 6 second crossing time seems to be an impossible feat. The number of fines dished out doubled in February, coinciding with the adjacent road, Albert Bridge, being closed. Only
Insurance Market Remains Stable
Posted on October 15th, 2010
To date, insurance pricing and conditions have remained stable, with flat or lower pricing being typical for the majority of insureds in the majority of coverage lines, notes insurance broker Marsh, which issued a report this week on the state of the P&C and reinsurance markets.
According to Marsh, a cornerstone of insurers’ overall stability has been the continuation of vigorous competition among insurers, which have generally weathered the economic storm as well or better than any portion of the financial sector.
The U.S. property/casualty industry does face continued challenges in 2010, however. F Read more…
Tags: Stable
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Heath Lambert and RAC launch household products
Posted on October 12th, 2010
Insurance affinity schemes specialist Heath Lambert and RAC have signed a 5 year agreement to launch a household suite of products in 2011.
Heath Lambert was selected by RAC due to its excellent track record in affinity partnerships, as well as its strong presence in the households market.
Heath Lambert’s panel and home product expertise was utilised to help create the product suite, and the firm will also handle all documentation, insurer management and pricing requirements.
RAC’s Mark Godfrey has expressed the firm’s confidence that it will be able to replicate its success in the motor sector in the home insurance market.
Heath Lambert’s Paul Smith has described the agreement as a fantastic opportunity for both RAC and Heath Lambert to establish themselves as a major force in the home insurance market.
Earlier this month Heath Lambert was chosen by Express Newspapers to provide the group with all its general insurances and risk management needs.
Tags: Heath Lambert, Products
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Homeowners Less Satisfied With Their Insurance Companies
Posted on October 9th, 2010
According to an annual survey by J.D. Power and Associates, satisfaction with homeowners insurance companies fell to the lowest level in five years. Tabulated scores came in at an average of 750 on a 1,000-point scale, a 23-point drop compared to 2009 ratings. The US National Homeowners Insurance Study surveys people on policy offerings, price, payment and claims and billing.
The company that came out on top according to those surveyed was Amica Mutual. The company has filled the number one spot for nine consecutive years. Coming in behind Amica are Auto-Owners Insurance, Erie Insurance, and Cincinnati Insurance.
INN Debuts Ratings Corner
Posted on October 8th, 2010
Continuing its mission to deliver the widest scope of insurance business and technology news, Insurance Networking News is pleased to announce its online Ratings Corner feature, which offers expanded online coverage of ratings updates released by the major rating agencies. Like what you see? Click here to sign up for Insurance Networking News weekly newsletter to get the latest on breaking industry news, carrier technology implementations and developing business and technology trends. Updated daily, the Ratings Corner will feature the latest insurance-related releases from four major ratings agencies: A.M. Best Co., Fitch Ratings, Moody’s Investors Service and Standard & Poor’s Ratings Services. Read more…
Tags: Corner, Ratings Corner
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