Live Insurance News

Understanding the Fundamentals of Tort Insurance

August 31, 2013February 12, 2014 Guest Author

Tort insurance is auto insurance designed to limit the number of auto accident lawsuits, specifically regarding “pain and suffering” and “loss” claims. Tort insurance pays medical bills for an auto accident, regardless of fault, but can limit the right of one party to file lawsuits over pain and suffering. Limited tort limits the ability of one party to sue for damages that are not economical, that is, claims that do not impact the finances of the injured party. Pain and suffering claims fall into this category, since it refers to…

Auto insurance fund proposal withdrawn in Maryland

August 23, 2013August 20, 2013 H. Cutner

MAIF is no longer moving forward on the effort to gain policy rights within the state. The Maryland Automobile Insurance Fund (MAIF) – which is considered to be the auto insurance market of last resort within that state – has withdrawn the proposal that it previously put forward in order to obtain “sole and exclusive property” rights for all of the policies in that market. That proposal had initially been presented by MAIF approximately two months ago. The decision made by MAIF to remove its auto insurance proposal has been…

Auto insurance scam popping up throughout UK

August 20, 2013August 17, 2013 H. Cutner

Drivers are being cautioned about a new kind of fraud called “Flash and Crash” by the industry. Auto insurance industry officials in the United Kingdom are cautioning motorists regarding a new type of scam that has developed and that is becoming more widespread in the country, called “flash and crash”. The scam involves tricking drivers into thinking that a good Samaritan is helping them out. The way that the auto insurance scam functions is that the fraudsters wait for victims to start to drive out of parking lots, gas stations,…

Auto insurance claims experience key to customer satisfaction

August 1, 2013July 30, 2013 Julie Campbell

Questionable tow and glass claims run rampant

A new report by J.D. Power has shown that relationships with policyholders can be made or broken in that area. The latest J.D. Power and Associates report, has revealed that a relationship with customers can be made or broken by the way that an auto insurance company handles claims that have been made. This is the first year that this study has been performed by the company to measure customer satisfaction. The report on the research was called the “J.D. Power 2013 Canadian Auto Claims Satisfaction Study”. It looked into…

Auto insurance cost drops following crackdown on fraud

July 30, 2013July 27, 2013 G. Turner

The price associated with covering a car has rapidly fallen since the new efforts went into effect. In the United Kingdom, the cost of auto insurance is dropping rapidly following a fraud and claim management company crackdown that has been very effective in shrinking the problem. According to recent data, the average annual comprehensive coverage quote has plummeted. The AA, over the past year, there has been a reduction in the size of comprehensive auto insurance quotes by approximately 10 percent. This is the largest decrease that has been recorded…