Hawaiian Insurance Commissioner calls for home insurers to submit new, reduced rates

A recent inquiry into the rates of homeowner’s insurance in Hawaii has led the state’s Insurance Commissioner, Gordon I. Ito, to call for drastic actions. The state’s Insurance Department ruled that the current rates for homeowner’s insurance are far too excessive. The department used data supplied by the National Association of Insurance Commissioners to form a benchmark against which Hawaii’s rates were tested. Now, Ito is calling for insurers to submit new rate filings for review. Ito first issued a memorandum for insurers to send their justifications for their rate…

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Why men pay more for car insurance than women

Studies that women are paying less for car insurance than are men. It appears to the difference in premiums has more to do driving records than with gender, however. Although the average indicates that women pay less, it might not always be the case. According to InsWeb Corporation, the average car insurance rate is 9% lower for woman than it is for men.  The important thing to remember with averages is that the percentage rates can be substantially higher or lower. Studies have also shown that when women are listed…

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