August 17, 2010 - A new website recently surfaced aiming to put an end to the frustrations that customers experience when finding cheap auto insurance quotes through calling and other slow methods. The website is called CarInQuotes and it currently covers all areas of the United States so people have a common place to visit. The site keeps

tracks of the best auto insurance companies that are trustworthy and present better deals than others. With its vast selection, customers still have the freedom of choice and can choose which insurance company to stay with once they compared the other options.
Site promoter Xavier Burns highlights the importance of finding auto insurance online by saying, "The internet has created things much simpler for all of us. You will help save quite a great deal of time and money seeking the very same info on the web. All credible insurance coverage businesses have an on the net presence and are simply accessible. You can also download the insurance plan forms and make payments on the web."

The home page located at carinquotes.com immediately presents some form fields along with some links to help customers get started immediately. The site covers all major vehicle types ranging from ordinary cars to scooters and RVs. Interested searchers can get immediate access to cheap auto insurance links without the need of registration. There is also a link that shows some of the auto insurance companies that are included in the site's database. Familiar companies such as Allstate, AAA Insurance, and MetLife are in the list.

The website aims to be very simple and accessible so customers can get their car insurance quotes in the quickest time possible. Multiple quotes are obtainable no matter what type of vehicle is owned. Currently, CarInQuotes.com supports insurance quotes for scooters, motorcycles, RVs, and cars. It promises customers to get what they need by performing two steps. All of these companies are briefly described in this page. To guide customers towards the most affordable rates, visitors are asked to input the ZIP code so a smaller list is generated.

The different insurance companies are listed as a resulted and are coupled with their respective logos along with their best features and strengths. Results including their descriptions are displayed on the same page for comparison purposes. Each insurance company is also clickable leading to the official site of the company. It is also opened in a new window upon clicking so users can check out the other insurance companies in the list of results.

The site presents an alternative method in getting a larger list of insurance companies which involves users to access the drop-down box on the bottom portion of the website. This drop-down box contains all the US states so they can see a list of any affordable insurance companies within that state.

To learn more about auto insurance in general, visitors have free access to the news section also found below the home page as well as access to a collection of articles found in the "Articles" section. The information listed aims to help beginners that want to know why auto insurance is so important and experienced car owners that are not contented with their current auto insurance status.

CarInQuotes claims that finding the cheapest auto insurance quotes is going to save hundreds of dollars while allowing the best insurance companies to stay in the competition.

August 17, 2010 - Fort Worth, Texas-based Hallmark Financial Services entered into an agreement for its unit Hallmark Insurance Co. to acquire nonstandard auto insurer State Auto National Insurance Co. from State Auto Financial Corp.

Fort Worth, Texas-based Hallmark Financial Services Inc. has entered into an agreement for its unit Hallmark Insurance Co. to acquire nonstandard auto insurer State Auto National Insurance Co. from State Auto Financial Corp.

According to an Aug. 9 news release, the purchase price for the acquisition will be $14 million in cash at closing plus an earnout of up to $2 million. Hallmark expects to fund the acquisition out of working capital.

The cash portion of the purchase price is subject to post-closing adjustment to the extent the statutory capital and surplus of State Auto National is greater or less than $10 million.

The earnout is payable quarterly in an amount equal to 2% of gross collected premiums on new or renewal personal lines insurance policies written by State Auto National agents during the three years following closing.

In connection with the closing, State Auto National will enter into reinsurance agreements with an affiliate of the seller. The affiliate will handle all claims and assume all liabilities arising under policies issued by State Auto National prior to the closing and during a transition period of up to six months after deal completion.

Columbus, Ohio-based State Auto National writes approximately $37 million in nonstandard automobile insurance coverage through independent agents in 21 states, approximately 80% of which is retained by State Auto Financial under its intercompany reinsurance pooling agreement with its parent, State Automobile Mutual Insurance Co.

Hallmark will not assume any staff, operating platforms or run-off exposure from State Auto Financial's existing operations, President and CEO Mark Morrison said in the release.

The deal should close later in 2010, subject to regulatory approval and other customary closing conditions.

A lot of car owners these days find automobile insurance a mystery. The only thing they know is that they will be given a financial bolster if their car is damaged or when they are the one responsible for a particular car accident.

Of course, no one expects typical car owners to bring a supplementary list with their cars just to know the angles and dangles of a certain automobile insurance.

Moreover, it is expected that not all automobile insurance companies have given their clienteles a complete and supplementary orientation regarding the terms and the numerous terms in an automobile insurance. That is why this write up will be able to give more in-depth information about an automobile insurance.

Automobile insurance is a type of insurance that drivers and car owners with cars, trucks, motorcycles and other auto vehicles. The insurance offers safeguard for car owners who have lost money due to an involvement in traffic accidents.


Also, the automobile insurance also gives a financial cushion for a person who has a liability that could be imposed if he or she is responsible for the damages and loses of the victim in a particular vehicular accident. Most of the drivers know this basic information since this is the usual thing that automobile insurance companies tell their clienteles. However, they are still not aware of the types of coverage that a certain automobile insurance offers.

As aforementioned, there are different types of coverage that an automobile insurance offers and there are six of them. Each type is given to give car owners a choice of financial cushion for particular unfortunate events that involve their car and their health as well.

One type is the Bodily Injury Liability. Its coverage includes coverage for the injuries incurred during a car accident. It is applicable to the driver or the policyholders that have caused the damage.

Another type is the Collision coverage. It covers the costs of repairs and replacements for the driver or the policyholder’s damaged vehicle. However, this type of automobile insurance reduces the premiums in the insurance caused by deductibles. These deductibles range from around $100 to $1000. They are paid prior to the payment that the insurance company makes to the driver for the remainder of the coverage.

Medical payments or MedPay is another type of automobile insurance. It covers the medical bills of the drivers and his or passengers due to a vehicular accident. Another type is the Comprehensive coverage. It covers the losses or damages caused by natural disasters, theft, and other unexpected instances out of the policyholder’s control.

Louisiana Insurance Commissioner James Donelon said in July that motor vehicle theft rates are on the decline in Louisiana. According to the Department of Insurance, motor vehicle theft rates declined in 2009 over 2008 by 16.8 percent in four of Louisiana's largest metropolitan areas based on 2009 preliminary data from the FBI Uniform Crime Report.

"This is good news for everyone with comprehensive auto insurance since motor vehicle theft is one of several determining factors considered by insurance companies when developing auto insurance premiums," Donelon said. "The work of the Department of Insurance Louisiana Automobile Theft and Insurance Fraud Prevention Authority is having positive results across the state."

Shreveport saw the largest drop, of more than 25 percent. In 2008, there were 859 reported auto thefts. In 2009, there were 641.

In Ouachita Parish, Maj. Jason Pleasant said there were 70 reported auto thefts between January and June 2009. Pleasant said there have been 42 so far in 2010.

West Monroe Maj. James Keys said police had no major vehicle theft problem.

"We had 33 in (all of ) 2009," Keys said. "So far, we've had 20."

While numbers for auto thefts in Monroe were not available, Det. Charles Roark did offer a reason for the drop.

"Cars are harder to steal these days," Roark said. "It's the way they're being made today."

Keys and Pleasant agreed with Roark.

"(Manufacturers) make them harder to steal," Pleasant said.

Donelon said LATIFPA has been active in educating consumers about vehicle theft and insurance fraud through a public awareness outreach campaign that began in 2007.

"This public awareness campaign and other aggressive efforts which include the mobilization of bait cars and license plate readers around the state have contributed to the recent reduction in motor vehicle theft and have raised awareness about insurance fraud, "Donelon said.

Louisiana's motor vehicle theft figures were lower in 2009 than in 2008 with 4,614 vehicles stolen in Louisiana's four major metropolitan statistical areas according to the 2009 Preliminary FBI Uniform Crime Report. A total of 5,547 vehicles were stolen in the same metropolitan statistical areas in 2008. Statewide preliminary numbers will be available from the FBI Uniform Crime Report in the upcoming months.

Donelon said other tools, together or in combination, can provide additional layers of protection from theft.

"Consider using visible and audible deterrents such as audible alarm systems, steering wheel locks and steering column collars," Donelon said. "You may also want to consider using immobilizers that stop thieves from hot wiring your vehicle such as fuel cut-off devices, kill switches or "smart keys" with computer chips that must be present to start the vehicle."

Donelon said if a thief is still successful, tracking systems that emit a signal to the police or a monitoring service when the vehicle is reported stolen can result in a faster recovery of the vehicle.

"These are only a few of the many ideas you can use to protect your vehicle," Donelon said. "Remember prevention starts with you and what vehicle theft preventing habits you practice regarding your vehicle."

Another avenue Louisiana has taken to fight insurance fraud was the creation of the Insurance Fraud Task Force in 2000, which includes representatives from the Department of Insurance, State Police Insurance Fraud and Auto Theft Unit, and the Louisiana Attorney General's Office. This task force has been working together to investigate insurance fraud reports with some resulting in arrests and prosecuting fraudulent insurance actions in the judicial system.

"Public vigilance goes a long way in combating insurance fraud," Donelon said.

The Insurance Fraud Section of the Louisiana Department of Insurance has recently expanded its online insurance fraud reporting tool by developing a more robust insurance fraud reporting form. Individuals may report suspected cases of fraud anonymously or choose to give their identity when reporting fraud.

If you believe you have been a victim of insurance fraud, or if you are aware of an instance of insurance fraud, it is important to report it. To report insurance fraud, visit the Department of Insurance Web site at www.ldi.state.la.us. Click on "Report Insurance Fraud" on the right side of the home page or call 800-259-5300 or 225-342-4956. To report vehicle theftm call Louisiana State Police at 225-925-3701.

Public insurance companies outperform private companies in customer satisfaction with auto insurance providers in India, according to the J.D. Power Asia Pacific 2010 India Auto Insurance Customer Satisfaction Index StudySM (AIS).

The study, now in its second year, examines auto insurance policyholder experiences with their primary insurers. Customer satisfaction is measured across six factors: interaction; claims; product/policy offerings; renewal/purchase process; billing and payment process; and premium/price for coverage offered. National Insurance ranks highest with a score of 831 on a 1,000-point scale, performing particularly well in all six factors.

Two public insurers—United India and New India Assurance—follow in the rankings, achieving scores of 823 and 806, respectively. Overall customer satisfaction with auto insurance providers averages 804 in 2010, and improves by 43 points from 2009.

“While satisfaction improves substantially overall, the rate of improvement for public insurers is higher than that of private insurers due to a substantial increase in satisfaction levels across factors, compared with 2009, and more so on the customer interaction with their insurer,” said Mohit Arora, executive director at J.D. Power Asia Pacific, Singapore. “Although public insurers outperform private insurance companies in all factors, private insurers have demonstrated more substantial improvement in the claims experience in 2010,than have public insurance companies.”

The industry-wide gains from 2010 are largely driven by notable improvement in various channels within the interaction factor, including independent agents and brokers; insurer branch offices and purchase dealers.

“With the recent opening of the market in 2009, auto insurance companies are making greater efforts to improve upon the customer experience in order to differentiate themselves from the competition,” said Arora.

“While insurance sales in India are still largely completed through the agent and broker channel, a shift in channel mix seems to be occurring due to provider network expansion and several OEM-insurer tie-ups.” The study also finds that consistent performance of key service practices has a notable positive effect on a customer’s propensity to consider the insurance provider for a renewal or a new purchase of an auto insurance policy, and that highly satisfied policyholders are also more likely to renew their policy with the same provider.

As a result, more than seven in 10 customers who are highly satisfied with their insurance provider say that they “definitely will” renew the auto insurance policy with the same provider. In comparison, only 43 percent of less-satisfied customers say the same.

The 2010 India Auto Insurance Customer Satisfaction Index Study is based on evaluations from 5,098 auto insurance customers who renewed or purchased an auto insurance policy between January 2009 and April 2010 and were between 2.5 and 3.5 years of vehicle ownership. The study includes 12 auto insurance companies (including eight private and four public providers) and was fielded from January 2010 to April 2010 in 20 cities across India.

LOSSES due to auto-theft were $1.8 billion across the local insurance industry last year, according to figures released by the Insurance Association of Jamaica (IAJ). A thorn in the side of insurers, carjackings are also a major problem for Jamaican motorists, who as a result, face the daunting prospect of having to pay more for auto insurance.

An average of four auto-theft cases are reported to insurance companies each day, IAJ statistics reveal. Despite the number of claims falling by seven per cent to 1,262 in 2009, the average loss to the industry increased by 12 per cent.

" In Jamaica, theft of vehicles has been an increasing problem over the last few years," said Jamaica International Insurance Company (JIIC) managing director Andrew Levy.

"There was a significant change a couple of years ago when the thieves started stealing more expensive vehicles, so, although the claims numbers didn't rise (last year), the cost of it has increased significantly," he noted, adding "of course we've had some devaluation (in the currency) but theft is a very significant chunk of the yearly claims cost for the industry."

Levy told Sunday Finance that JIIC pays out some 20 claims of theft per month at an average of $1.5 million.

"You're talking about $20 million to $30 million a month for just one company," he emphasised.

And a big problem for insurance companies usually means a big problem for persons seeking insurance coverage. In this case, it's those seeking motor vehicle coverage in general, not just the victims of theft.

For the victims, it's bad enough that someone robs them of their main means of transportation, but to make matters worse, they'll end up paying higher premiums because of it. But, in general, motorists who own cars that are considered by auto insurance companies as being high risk for theft, pay higher policy rates as well. According to the IAJ, which aims to have a stolen vehicle database available on its website by next month, the Toyota Corolla (349 stolen vehicles reported), Nissan Sunny (110), Honda Civic (91) and Toyota Hiace (73) were the most frequently reported stolen vehicles in Jamaica last year, in that order.

"In Jamaica, Toyota and Nissan are by far (the most popular) vehicles on the road, therefore Toyota and Nissan are the vast majority of the vehicles that are stolen," noted Levy about a trend that Sunday Finance confirmed with the Stolen Motor Vehicle Investigation Unit in the Organised Crime Investigation Division of the Jamaica Constabulary Force.

According to Levy, the theft component of the motor insurance premium is somewhere in the region of 10 to 15 per cent of the overall premium.

"If somebody could get a 10 to 15 per cent discount on their motor vehicle premium, they'll jump," he noted.

So, against this background, if you don't want to be digging too deep into your pockets for auto insurance, choose a car with low insurance rates and protect yourself against automobile theft. The latter can be achieved through installing anti-theft devices in your vehicles, such as an alarm; ensuring that the doors to your vehicles are always locked; and not parking your vehicles in "risky" neighbourhoods.

Based on Levy's assessment of how theft factors in motor vehicle insurance rates, these few pointers can save you a lot of money.

Aug. 6, 2010 (China Knowledge) - China is considering opening the compulsory automobile insurance market to foreign investors, sources reported, citing people familiar with the matter, as saying. Pursuant to the report, the China Insurance Regulatory Commission may allow foreign firms to offer mandatory liability insurance service to the Chinese customers.

Currently, foreign insurers are allowed to provide some optional car insurance products.

China opened its market to foreign insurers in 2004 upon its entry in World Trade Organization. At present, foreign insurers accounts for only 4% of the US$164 billion insurance market in China. The move will undoubtedly boost their business in the world’s biggest car market.

Foreign insurers' market share has risen by less than 2 percentage points from 2.3% in 2004. Only three out of 24 foreign life insurers made a profit in 2008, according to a report compiled by CIRC.

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