Insurance Journal » Personal Lines

Project CAP Selects Phoenix Agency for Agency 2020 Program

Mon, 20 May 2013 16:39:48 +0000

Hester, Heitel & Associates, an independent insurance agency in Phoenix, has been chosen as the spotlight agency to represent Project CAP’s Agency 2020 program. Agency 2020 was designed to provide independent agencies with resources to help them implement a long-term …

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Homeowners Confused About Insurance Coverage: Survey

Tue, 14 May 2013 14:07:19 +0000

Many homeowners do not understand what exposures are covered under their home insurance policy, according to a new consumer survey. More than two in five Americans (41 percent) believe that a standard homeowner’s insurance policy protects against mold damage, according …

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MetLife Auto & Home Expands Identity Protection Coverage

Mon, 13 May 2013 16:55:35 +0000

MetLife Auto & Home has enhanced its identity protection services to include assistance for digital threats, such as e-mail and social media compromise, as well as data breach victim assistance. The services are provided as part of the company’s identity protection program, …

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Consumer Bill of Rights Would Summarize Oklahoma Insurance Laws

Tim Talley — Fri, 03 May 2013 16:40:50 +0000

As tornado season intensifies, Oklahoma’s top insurance official said he is compiling a consumer bill of rights to let home and car owners know what their legal rights are when they are affected by severe weather or some other calamity. …

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ACE Acquires Mexico Personal Lines Insurer ABA Seguros

Fri, 03 May 2013 10:39:43 +0000

ACE Limited announced that it has completed the acquisition of Mexican personal lines insurer ABA Seguros from Ally Financial Inc. for approximately $690 million in cash, after a $175 million pre-closing dividend taken by the seller. ACE noted that ABA …

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Most-Used Excuses for Getting Out of Traffic Tickets: Survey

Mon, 29 Apr 2013 16:11:17 +0000

Plead ignorance. That’s the most-used excuse when drivers are pulled over for a traffic violation, according to Insurance.com’s new “Ticketmasters” survey. Among people who said they have used excuses when pulled over by a police officer, here’s how explanations break …

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U.S. Expected to Seek Limits on Car Touchscreens

Thu, 25 Apr 2013 14:08:40 +0000

U.S. traffic safety regulators are expected to propose stronger measures to keep drivers from being distracted by in-car touchscreens. Transportation Secretary Ray LaHood and National Highway Traffic Safety Administration Administrator David Strickland have scheduled a news conference for Tuesday afternoon …

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West Explosion Insured Losses Hit $100M

Wed, 24 Apr 2013 15:08:51 +0000

“Daddy, are we dead?” Those were the first words from 9-year-old Kaden Anderson after an explosion ripped apart the fertilizer plant in West on April 17. Kaden was riding with his father Bryan who had driven over to see where …

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Florida May Scrap No-Fault Auto Insurance Law

Michael Adams — Fri, 05 Apr 2013 14:44:24 +0000

Frustrated by a recent court decision temporarily blocking part of Florida’s no-fault auto insurance law reformed last year, state lawmakers are considering scrapping the entire law. Current proposals would reinstate to a tort system and mandate that all drivers purchase …

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High-Tech Personal Lines: Technology Changing the Way Agents Do Business

Andrea Wells — Wed, 03 Apr 2013 16:12:25 +0000

Many believe there is still opportunity for independent insurance agents and their carriers to grab personal lines market share. But to do so they must find a way to compete against the giant direct response and captive carriers that are …

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Project CAP CEO Bacciocco Shares Views on Consumer Agent Portal and 2013

Andrea Wells — Mon, 01 Apr 2013 10:20:07 +0000

Independent agents should soon be getting some help with their personal lines sales— better late than never. The delayed Consumer Agent Portal — backed by the Independent Insurance Agents & Brokers of America Inc. (IIABA) and six investor insurance companies …

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10 Things to Know About Home and Auto

Fri, 29 Mar 2013 14:17:43 +0000

There are more than 132 million housing units in the United States, more than 80 million of which are detached, single-family homes, and roughly one-in-four of those homes were built prior to the 1970s. (U.S. Census Bureau) In 2011, homeowners …

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American Integrity, Wright Flood to Offer Residential Flood Insurance

Mon, 25 Mar 2013 10:00:51 +0000

Florida residential property insurer American Integrity Insurance Group has partnered with Wright Flood, a flood insurance provider to offer residential flood insurance. Effective April 1, 2013, American Integrity Insurance Group will make flood coverage available through its network of independent …

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ACE Private Risk Survey: High Net Worth Families Overpaying to be Underinsured

Thu, 14 Mar 2013 16:24:56 +0000

Most wealthy individuals and families who insure their assets with carriers geared primarily for the average U.S. household overpay for coverage that leaves their wealth unnecessarily exposed to the risk of severe financial loss, according to an ACE survey of …

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A.M. Best Downgrades National Automotive Insurance Co.

Tue, 12 Mar 2013 16:30:59 +0000

A.M. Best Co. has downgraded the financial strength rating to C (Weak) from B (Fair) and issuer credit rating to “ccc” from “bb” of National Automotive Insurance Co. (National Automotive) of Metairie, La. The outlook for both ratings is negative. …

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Agents Hang Onto P/C Market But Lose Ground in Personal Auto: Study

Andrea Wells — Mon, 11 Mar 2013 20:43:08 +0000

After experiencing dwindling premiums for years, the property/casualty insurance industry managed to grow substantially in 2011. Independent agents and brokers hung onto their share of the market with some independent agency carriers gaining in market share by double digits, according …

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Arbella Introduces Carpartment Insurance

Thu, 07 Mar 2013 17:18:35 +0000

The Arbella Insurance Group has launched Carpartment insurance, which offers discounts to renters insurance customers who insure their cars with Arbella. “Renter’s insurance is carried by only 31 percent of tenants nationwide, and many of the uninsured have no idea …

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Penn. Regulator Advises Consumers to Review Insurance Policies This Tax Season

Wed, 06 Mar 2013 19:28:50 +0000

Tax season is in full swing, and Pennsylvania Insurance Commissioner Michael Consedine is encouraging consumers to go the extra step this year and review their insurance policies. “Facing higher tax rates this year, consumers are looking carefully at how they …

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General Star Launches High Value Homeowners Program

Wed, 06 Mar 2013 17:22:50 +0000

General Star Management Co. has launched a high value homeowners program. Effective March 1, the product is offered through All Risks, Ltd, the program administrator for this new facility. Together, they will provide eligible homeowners with insurance options in 12 …

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PCG Agencies Named Travelers’ Midwest Personal Lines Agency of Year

Wed, 27 Feb 2013 16:36:44 +0000

PCG Agencies Inc., a personal property/casualty insurance and risk management firm headquartered in St. Paul, Minn., has been named Travelers’ Midwest Personal Insurance Agency of the Year. PCG Agencies was chosen for this award out of a field of more …

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Project CAP Selects EZLynx for Real-Time Pricing on Updated Consumer Site

Tue, 26 Feb 2013 15:57:24 +0000

The independent insurance agents’ online service for insurance buyers, Project CAP, has selected EZLynx to be the key real-time rating technology partner for its enhanced TrustedChoice.com website. The EZLynx Rating Engine will be used to power the website’s “get a …

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Esurance Hiring in San Antonio

Tue, 19 Feb 2013 17:10:59 +0000

Esurance, the direct-to-consumer personal car insurance company, is opening a new office in San Antonio and will hire up to 150 new associates during the next 18 months, the company announced. The company will be hiring customer service associates, managers, …

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Coventry Insurance, Knightbrook to Offer Personal Articles Coverage in FL

Tue, 12 Feb 2013 17:32:56 +0000

Coventry Insurance Services and KnightBrook Insurance Co. have partnered to offer Coventry Shield Valuable Personal Articles Coverage. The policy an “all-risk” coverage for valuables that are not covered adequately or at all under typical homeowners’ policies, including: fine jewelry, silverware, …

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Farmers Insurance Pulling Out of Louisiana

Mon, 11 Feb 2013 16:45:43 +0000

Farmers Insurance Exchange, which has around 23,000 homeowner and 7,000 auto policies in Louisiana, is dropping those lines of business in the state, but a company spokesman said Friday it will retain more than 100,0000 policies in Louisiana under three …

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TDI: Pre-Dispute Binding Arbitration Clauses Unfair to Policyholders

Wed, 16 Jan 2013 16:01:37 +0000

Pre-dispute mandatory binding arbitration provisions in insurance policies may be on their way out in Texas if state insurance regulators proceed with a plan to ban them. The Texas Department of Insurance has informed lawmakers that it is considering a …

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Rising Premiums Do Not Curtail Insurance Spending: Survey

Mon, 14 Jan 2013 16:28:34 +0000

More than a third of Americans spent more on insurance during the past year, according to a new survey. Some 37 percent of people responding to the survey spent more on insurance over the past year while only 7 percent …

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Congress Repeals Insurance Booklet Mandate at Car Dealerships

Wed, 26 Dec 2012 17:00:07 +0000

The U.S. Senate has approved legislation that would eliminate the requirement that new-car dealerships keep on hand an information booklet about insurance. The bi-partisan legislation, H.R. 5859, endorsed by the National Automobile Dealers Association, passed the House in late July …

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Minnesota Parents Asked to Insure Students’ Electronics

Tue, 11 Dec 2012 17:01:10 +0000

Some school districts in Minnesota want parents to pick up the tab for insuring expensive tablet computers that are given to students. More and more electronics are replacing textbooks, paper and pencils. Farmington schools will buy enough Apple iPads for …

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Personal Lines Rates Rise 4% in November: MarketScout

Fri, 07 Dec 2012 17:00:21 +0000

Homeowners and automobile insurance rates are trending up, according to a new industry survey. The composite rate for insuring personal lines business in the United States increased to plus 4 percent for November 2012 as compared to November 2011, says …

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Liability Insurance Shows Signs of Deteriorating Performance: Conning

Thu, 29 Nov 2012 16:06:47 +0000

The benign period for liability insurance results may have run its course. Current trends in loss frequency, tort filings, and reserve releases suggest that an inflection point may have been reached, according to a new study by Conning. “The U.S. …

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