Category: General Insurance

The Good, The Bad, And The Details Behind Credit Scoring And Your Insurance

I am not a big fan of credit scoring as a rating-underwriting factor for insurance.  Unfortunately credit scores are here to stay for personal insurance rating.  The following article provides and explanation-information about the insurance industry use of credit scores. The goal of every insurance company is to correlate rates for insurance policies as closely as possible with the actual cost of claims. If insurers... Read Article

Adult Children Living At Home Are They Covered?

With a tough job market, many parents are welcoming back grown children who they thought had left the nest for good. Here’s how to make sure they have the right auto, home and health-insurance coverage when they move back in with you. ________________________________________ Auto insurance. If your child just graduated from college and doesn’t have their own car, then your auto-insurance coverage may change very... Read Article

Insurance Company Results First Half of 2011

Insurance company results are not good for the first half of 2011.  Companies may react and not in a good way for customers.  Plan to see large increases in property insurance premiums, coverage decreases, higher deductibles and other lines may see higher premiums to help prop up property insurance results in an effort to help overall results.  Article from ISO/PCI/INSURANCE INFORMATION INSTITUTE. ISO: Property/Casualty Insurers’ Profits and Profitability Tumbled In First-Half 2011... Read Article

Insurance Fraud 10% Of Your Insurance Premiums?

Insurance fraud doesn't look like it will be going away anytime soon.  If the estimates that 10% incurred losses are from fraud are correct then I would suggest your insurance premiums are at minnimum 10% higher due to insurance fraud and climbing.   Reporting insurance fraud when aware of it is a good idea. The Insurance Information Institute estimates that fraud accounts for about 10 percent... Read Article

Social Media-Companies-And The Risk for All

Social media is becoming a fixture in every aspect of our lives and sometimes not by choice.  Travelers Insurance has written the following article regarding the risk-exposures for companies involving Social Media and offered advice on managing the risk.  I think the article is very interesting, useful and would suggest everyone consider applying some of the advice when using social media for personal use.  Social... Read Article