Best insurance workplace in Indianapolis title goes to GEICO

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A survey sponsored by The Indianapolis Star revealed that the insurer took the top spot for the third year in a row. GEICO has been recognized as the best insurance workplace in Indianapolis for the third year in a row, according to a news release. The title was given to the insurance company based on the results of an employee survey. The Indianapolis Star sponsored a survey issued to company employees throughout the city. The questions focused on a range of different workplace culture issues and how much employees felt…

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Geico auto insurance rates headed skyward in Illinois

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The average premiums increase is expected to be 3.5 percent, according to state records. Geico auto insurance will be increasing its rates in Illinois next year. The company, which is owned by Berkshire Hathaway, will raise premiums by an average of 3.5 across the state. The new Illinois auto insurance rates will become effective on February 6, 2017 for policy renewals. This is not the only increase being issued by Geico auto insurance. In fact, the insurer has been making similar announcements across the country. Throughout 2016, the average policy…

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Auto insurance premiums continue to rise in the U.S.

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Falling gas prices bring more drivers to the roads Auto insurance premiums are on the rise in the United States, and this may be due to falling gas prices. Global oil prices have been falling, which has resulted in lower gas prices for drivers in the U.S. As such, many consumers have been traveling more frequently. According to the Maine Turnpike Authority, some 16 million cars passed through tolls this year, which is the highest number of vehicles passing through tolls that the organization has ever recorded. More drivers on…

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Gas prices may affect the cost of auto insurance

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Auto insurance premiums spike as gas prices fall Falling gas prices may be having an impact on the cost of auto insurance coverage in the United States. Earlier this year, analysts suggested that as much as $75 billion will be cut from the cost of gas by the end of this year. Drivers would be saving a total of $1 billion in fueling costs over the Labor Day weekend alone, largely due to the fact that fuel is getting less expensive. The average price of as is currently $1 per…

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Geico agrees to pay $6 million auto insurance settlement in California

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Geico has agreed to pay a settlement concerning accusations of discriminatory practices Geico, one of the most prominent auto insurance providers in the United States, has agreed to pay $6 million in order to settle bias charges made against it, which were first raised by the Consumer Federation of California. The charges have to do with the insurer discriminating against drivers regarding their gender, education level, and occupation when they sought out quotes for policies online. The insurers will be paying the $6 million settlement over the course of three…

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Berkshire insurance and investments lead to 37 percent profit drop

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The slump in the industry has contributed to a reduction in the company’s revenues. According to a recent report from the company, the Berkshire insurance and investments situation in the second quarter of this year wasn’t necessarily something that would be causing investors to dance about with glee. During that quarter, the profits at Berkshire Hathaway Inc, under Warren Buffett, fell by 37 percent. Greatly to blame for the issues with profits was the Berkshire insurance arm, as there had already been a decline in the gains from investments, but…

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Credit has a big impact on auto insurance premiums

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Report highlights the effect that credit data has on insurance prices Credit score has a lot to do with auto insurance rates, according to a recent report from WalletHub, a personal finance organization. The report focused on how a driver’s credit score affects their insurance rates in the United States. All states but California, Hawaii, and Massachusetts were examined for the report. In these states, using a driver’s credit history to price auto insurance coverage is illegal, so such information does not contribute to higher premiums. Those with no credit…

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Auto insurance premiums at GEICO and Allstate are going up

Certain large national insurers will be increasing their rates following a decline in underwriting results. It looks as though even the auto insurance companies that are known for providing affordable premiums are not immune to the need to increase rates every now and then, as GEICO has joined the national insurers that have been increasing their rates. The first quarter’s decline in underwriting profits were down and will be increasing rates to compensate for it. During the first quarter, GEICO saw underwriting profits of $160 million. When compared to the…

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Berkshire Hathaway seeks to enter the insurance industry in Canada

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The company has recently announced its intentions for “expanding into the Canadian marketplace.” Berkshire Hathaway Specialty Insurance has now announced that it will be making its way into the “Canadian marketplace,” and that it already has the necessary licenses for conducting business in that insurance industry. Within that country, the company said it, “underwrites on the paper of National Liability & Fire Insurance Company.” National Liability is one of the members of the National Indemnity group of insurers which is owned by Berkshire Hathaway. This move will bring the insurer’s…

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Insurance marketing display ads are more effective than television

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A recent report has shown that they are nine times more effective in terms of brand awareness. As insurance marketing techniques are being considered, a recent discovery made by Rocket Fuel might help insurers to make the most effective choices for their needs when their goals are to boost their brand awareness. The research determined that display advertising is nine times more successful than television. Within the research, Rocket Fuel found that digital display advertising for insurance marketing is much better at forming immediate brand awareness for life and auto…

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