Live Insurance News

Shedding Light on Insurance Fraud

August 23, 2014August 22, 2014 Note From The Editor

Fraud is not something that many people understand The insurance industry has to deal with a wide range of financial risks that often result in losses. One of the most things that insurers have to fight on a constant basis, but something that receives relatively little attention from consumers, is fraud. Insurance fraud is a longstanding problem that has no simple solution. Many people do not realize that fraud is not something that insurance companies suffer from alone. Fraud has a major impact on the finances of policyholders as well.…

Auto insurance affordability is American government’s next focus

August 6, 2014August 4, 2014 G. Turner

Regulators are now taking a look at how much it costs to cover vehicles across the country. Over the last few years, the federal government has started to amass a list of consumer complaints and has built a database about credit card companies and banks, which has more recently included auto insurance companies. A federal office has now announced that they will be placing their focus on car insurance premiums. The office first made the announcement back in April that it would be increasing the efforts that it was making…

Auto insurance fraud used a deer to fake a $5 million claim

June 2, 2014June 2, 2014 Julie Campbell

A 63 year old body shop owner from Philadelphia has been accused of hundreds of scam charges. A man from Philadelphia is now facing hundreds of charges relating to his auto insurance fraud activities, in which he used deer carcasses, fur, and blood to make it appear as though the vehicles had struck the animals on the road. The participants in the scam would then file inflated claims so that insurers would pay for the “repairs”. According to investigators, the accused, Ronald Galati Sr. had a rather clear motto, which…

Auto insurance premiums could improve as a result of the Affordable Care Act

April 18, 2014April 18, 2014 G. Turner

As strange as it may sound, the health care reform could end up reducing vehicle policy rates. The health care reform has certainly been an area in which there has been a tremendous amount of controversy could actually be paying off in an area that wasn’t its primary intention, in the form of auto insurance premiums savings. According to the results of a recent study, the Affordable Care Act could be lowering other coverage costs. Beyond auto insurance, it is also believed that the health care reform will also be…

Auto insurance lies are common among parents

February 7, 2014February 4, 2014 G. Turner

One in six are fudging the truth to help their kids to obtain coverage According to the results of new research thousands of parents are committing auto insurance fraud by pretending that they are the primary driver of a vehicle that is actually being used mainly by their student daughter or son. Up to one in every six young drivers are saving money on their coverage through dishonesty. The study was conducted by a website called Gocompare.com. It found that up to 16 percent of younger drivers are reducing the…

Factors That Impact Car Insurance Premium Negatively and What You Can Do About It

February 1, 2014February 3, 2014 Guest Author

A number of things affect our auto insurance rates. Some work to our advantage and lead to discounts, whereas others get us deemed risky customers and lead to higher insurance premiums. There may not be much we can do about how old we are and where we live, but there are certain factors that impact our premiums negatively which we do have control over. Read on to find out what these factors are and what you can do to stop them from creating a bigger hole in your pocket. Your…

Auto insurance prices in U.K. continue to drop

January 31, 2014January 28, 2014 H. Cutner

According to the A.B.I., the average amount paid to cover a vehicle is still on its way downward. The cost associated with purchasing and owning auto insurance in the United Kingdom has dropped another 9 percent over the last year as a growing number of consumers are using the resources available to them over the internet to be able to comparison shop and find better rates. This, according to a survey which also credits fewer claims into the dropping premiums. The data was provided by the Association of British Insurers…