Property/Casualty Insurers, a private American company, reported that after taxes, their net income fell to $7.8 billion within 2011’s first quarter from last year’s first-quarter profits which were at $8.9 billion. Moreover, there was a drop from 6.8 percent to 5.6 percent in that insurer’s average policyholder surplus annualized rate of return. As a result of the net income of the insurer of $7.8 billion after taxes, the surplus of policyholders did rise by 1.4 percent to $7.8 billion, to hit a record by March 31 of $564.7 billion. This…
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Medicus Insurance Company drops rates in 6 states, touts their new green initiative
Medicus Insurance, providers of liability insurance for medical professionals, has announced that it will be lowering its rates in six states across the country – Arizona, Kansas, Nevada, Ohio, Virginia and its home-state Texas. The company operates in 24 states throughout the nation. The move to reduce rates is part of an overarching effort to promote their green initiative. In the coming years, Medicus hopes to make each of its offices paper-free, relying on digital mediums to do business. Each state is subject to its own, specialized rate reductions. In…
Read MoreAmerican Agents Alliance initiative seeks discount for consumers maintaining car insurance
A California agents group, the American Agents Alliance, is moving forward with an initiative that would offer a discount to consumers who have persistently maintained their vehicle insurance, no matter their insurer or insurance company. The current law states that this persistency discount is allowed only when the coverage has been continually kept with the same company. However, the initiative sought by the Agents Alliance is comparable to Proposition 17 in 2010 – which lost by only 2 percent – and would have permitted consumers to carry their persistency discount…
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