Car Insurance Roundup, April 19, 2016


Car insurance premiums flatline after recent upward trend, index shows | The Actuary, the official magazine of the Institute and Faculty of Actuaries

Based on data submitted to Confused.com, the index showed the average comprehensive premium held at £671 during the first quarter. Third party, fire and theft (TPFT) prices fell very slightly by £1, or 0.1% on average, to £1,128. 


Allstate plans big car insurance rate hike in Georgia

Allstate has filed to increase its car insurance rates by 25% in Georgia, a filing that state insurance commissioner Ralph Hudgens says leaves him “deeply concerned.”

It will doubtless further annoy Georgia consumers like Ronnie of Griffin, Ga., who is already steamed at Allstate, according to aConsumerAffairs review he filed recently. 


FSS plans car insurance reforms-INSIDE Korea JoongAng Daily

The nation’s financial watchdog plans to overhaul the auto insurance fee system to make fines proportional to responsibility in accidents and expand compensation related to deaths or disabilities from collisions.

The Financial Supervisory Service (FSS) on Monday said it will begin raising auto insurance premiums more sharply on drivers who are deemed more responsible for an accident when there’s blame to share, while the less-responsible driver will see a smaller increase. 


New Car Insurance Quotes for High Risk Drivers Available Online on A Single Website! | news.sys-con.com

High risk drivers will pay more for auto insurance. This makes it difficult to find a low cost coverage plans with good benefits. However, drivers who have a high insurability risk should not give up their search for affordable coverage. There are now simple and efficient ways to compare multiple plans, without the hassle of visiting multiple agencies or calling various agents. 


Good news: Hamburg auto insurance rates rank among lowest in the state – Sun News

New York City-based company Value Penguin recently conducted an analysis about all things car insurance.

Hamburg residents will be pleased to hear that the analysis showed the area to be among the lowest for rates, thanks to a number of factors including the area itself, the people and past claims reported in the town and village.

Frankie Huo, lead analyst for the study, along with a team of statistics pros, gathered data from seven of the largest insurance companies in New York State, taking advantage of online insurance quote availability. 


Virtual Car Insurer Shows Consumers How to Assess Companies

In a newly published guide, Virtual Car Insurer explains how insurance buyers should go about examining the companies they are considering. They break down what a person should be doing before they sign up with a company and what they should do after they choose a firm. 


Insurance industry ‘smokescreen’ will impact on injured motorists | Solicitors Journal

Distorted figures on fraudulent motor insurance claims have been ‘swallowed whole’ by the government, the Association of Personal Injury Lawyers (APIL) has claimed.

The Association of British Insurers (ABI) states that whiplash injuries cost the industry £2bn a year, or an average of £90 for each motor insurance policy.

The UK has been called the ‘whiplash capital’ of Europe. While France sees just 3 per cent of motor injury claims for whiplash, in the UK the figure is said to be up to 80 per cent. 


Times Of Oman :: Oman Qatar Insurance opens new branch at Avenues Mall

To cater to the growing market demand, Oman Qatar Insurance Company (OQIC), premier insurer in Oman and a subsidiary of Qatar Insurance Group, on Monday announced the opening of a new branch at Muscat’s leading Avenues Mall.

The timings of the new branch will be from 10am to 10pm between Sunday ando Wednesday and from 10am to 11pm between Thursday and Saturday. 


IndiaFirst Life Insurance eyeing 30% growth in retail biz and other top insurance news

IndiaFirst Life Insurance is looking at 30% growth in retail premium collection in the current financial year. In 2015-16, the company’s overall premium collection stood at Rs. 1,967 crore. (FC) Insurance regulator IRDAI has imposed Rs. 15 lakh fine on DHFL Pramerica Life Insurance Company for violation of guidelines on outsourcing norms for corporate agents licensing. (FC). 


Thrilled that AI is no longer a dirty word | Network World

Cognitive computing, artificial intelligence and machine learning are here to stay and promise to benefit both consumers and the organizations that exploit these advanced technologies.

That was the sentiment from “Dawn of the Cognitive Era” panelists representing mostly startups (startup wannabe IBM being the exception) at the annual TiE StartupCon event in Boston this past week. 


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