Commercial insurance rates may be on the rise due to 2010 losses

Premiums for commercial lines of insurance are still low, mainly due to an increased amount of insurers offering coverage, and the low amount of consumers looking for providers, and not making claims. Most small and midsized business rates remained the same, while some large companies saw minor decreases. The last two years have been relatively calm for most states, as far as natural disasters go; compared to losses that have occurred in previous years. This has created an increase in capital that insurance companies have had to work with when…

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Survey says that car dealerships profit big time from selling insurance products

Finaccord, a financial market research group, conducted a study across 26 countries regarding the financial impact of up-selling consumers on “extras” when they purchase a new car. The numbers are staggering on how it’s affecting car dealers and manufacturers profit margins.   When dealerships partake in selling insurance products like gap insurance, extended warranties, auto insurance, roadside assistant programs and creditor insurance they benefit wildly. According to Finnacord, their study shows the importance of the said factors to the automotive industry in the whole of Europe. In the countries that were…

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