19

58%%

90%%

122%%

130%%

154%%

170%%

186%%

194%%

230%%

246%%

262%%

270%%

294%%

310%%

326%%

334%%

358%%

374%%

390%%

398%%

422%%

The survey collected insurance rates from more than 2,400 vehicles based on ten zip codes for each state. Customers from six insurance carriers were included.

Wonder How Your State Stacks Up For Auto Insurance Costs? is a post from: Peppercoin Insurance

In general the proposed rules give insurance companies much more leeway when it comes to handling what it suspects are fraud cases. For example, one proposal is to make it easier for insurance companies to dispute health care charges that exceed appropriate free schedules. In another proposal the insurance company would be allowed to suspend medical payments related to the insurance claim if fraud on the part of the medical clinic is suspected.

The New York State Insurance Department has been working hard to find ways to reduce auto insurance fraud because consumers pay higher rates than would be required if fraud was lessened or eliminated. Currently New York Drivers are paying the second highest auto insurance rates in the United States. The cost of fraud cases is passed on to consumers through insurance premiums and is often called a fraud and waste tax.

No fault automobile insurance coverage allows a victim of a car accident to file claims with his or her own insurance company to collect medical payments and lost wages. It does not matter who caused the accident and thus the no-fault designation. But some of the costs of the no fault claims is related to court cases involving disputed medical claims.

The proposed regulations would make changes to the medical forms so insurance companies are better able to determine legitimate claims. This could speed up the settlement of legitimate claims. Some of the proposed regulation changes benefit the insured directly. For example, auto insurers would have to schedule medical exams for the insured so the exams are conveniently located and at reasonable times.

Another proposal is to increase the maximum attorney fee so the insured can be adequately represented. A minimum attorney fee would be eliminated in an effort to promote consolidation of claim cases.

Fighting waste and fraud with regulatory changes in the New York auto insurance industry is important if consumers want to see their insurance premiums contained over the coming years. The New York State Insurance Department has a fraud division that specializes in investigating fraud cases. Some of the fraud cases are instigated by organized groups that involve medical clinics and even attorneys and they operate throughout the state.

The changes to Regulation 68 are still in the draft stage and comments from the public are welcomes. It is expected that most changes as proposed will be adopted along with others being suggested. The consumer is likely to benefit once that happens as auto insurance costs are contained in the state of New York.

New York Making No Fault Auto Insurance Changes To Reduce Fraud is a post from: Peppercoin Insurance

The secret of IFA’s success has to do with its reorganization and expansion of local territory maps throughout the New Jersey area. This allows for precision programs that can be used by IFA agents to adjust the already low insurance rates for New Jersey motorists.

Another aspect of IFA’s broader approach has to do with its investment strategies when it comes to relevant technologies. Like other new generation insurance providers, IFA Insurance Company seeks to make the most of the markets-even when they’re down.

IFA is currently using innovative data analysis tools to monitor losses, manage rate structures, and make rapid adjustments to take advantage of opportunities to provide lower rates for customers.

According to IFA President, David Walsh, there is much to be gained from monitoring relevant statistical data. “IFA offers some of the lowest Auto Insurance rates available in New Jersey. It’s always a challenge pushing our rates even lower; however, by continuously monitoring our statistical data we are often able to extract information that helps us to lower rates for our customers.”

IFA is pushing the envelope and leading the way. They are a sure sign that despite the financial crisis that is affecting so many areas of the American economy, there remains some reason for hope that things will recover. With resurgence in auto sales, there will be a consequent increase in the number of new motorists seeking quality auto insurance coverage.

Lower Auto Insurance Rates In New Jersey is a post from: Peppercoin Insurance

Michael Moriarty, deputy insurance superintendent for property and capital markets in the state of New York, is incredulous over the statistics for his home state. “On average,” said Moriarty, auto insurance providers “have been asking for a 7% increase.”

In North Carolina, auto insurance providers have petitioned state regulators with a demand to increase rates by 13%. Meanwhile, auto insurance providers throughout the state of Illinois have been increasing their rates as well, by amounts ranging from 3% with State Farm, to 13% for the United Services Automobile Association.

The Insurance Information Institute reports that, across America, premiums on auto insurance have gone up at a yearly rate of 1.7% thus far this year. Although California and a few other states continue to report decreases in auto insurance rates, these states are proving the exception rather than the rule.

Moreover, the raises in rates aren’t part of an ongoing trend. Quite the opposite: auto insurance rates have stayed constant, or have even gone down a little, throughout 2005, 2006, and 2007. Throughout those years, statewide efforts to combat unsafe driving practices and insurance fraud have contributed to the positive statistics.

Auto insurance companies cite their own statistics as justification for their decisions to raise rates. There haven’t necessarily been fewer accidents on the road, despite the decrease in motorist activity, say the insurance providers. Meanwhile, such variables as America’s current high inflation rate, and the rising costs of automobile materials are increasing the expense of paying insurers’ claims.

Less Driving Doesn’t Equal Lower Insurance Rates is a post from: Peppercoin Insurance