As the numbers keep rising on the estimate of losses in Japan, so do the growing concerns regarding the financial stability of insurance companies that were heavily vested there. One company, in particular, had at least three-quarters of their overall business in Japan. AFLAC, a top performing, Fortune 500 company, insures two of the largest insurance buyers in the world; the United States, and Japan. AFLAC sells supplemental health (GAP) insurance, life insurance and cancer insurance. Even though they don’t have property coverage in Japan, when the Earthquake and Tsunami…
Read MoreTag: gap insurance
Chubb Insurance Group expands coverages for auto policies
The Chubb Group Insurance will be adding to, and expanding, aspects of their automotive policies. Customers in four states can now take advantage of pet coverage that was added to their auto policies. The additional coverage will help to pay for medical treatment the pet may require if it is in the vehicle when the owner is involved in an accident. The Chubb Group is also raising the limit on loss-of-use coverage, and broadening the lease (GAP) coverage. Additionally, they are adding replacement cost coverage on new vehicles; if an…
Read MoreDoes gap insurance make sense for you?
By purchasing gap insurance, the financial burden on the depreciating value of cars can be resolved. A new car’s value decreases by the time you drive it off of the dealer’s lot, and can actually be reduced by 30% during its first year of ownership. The decrease in the value of new cars can lead to a huge financial burden, as you can end up having a debt on your car loan that is larger than the actual worth of the car. Should you be involved in an accident or…
Read MoreSurvey 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…
Read MoreMore small businesses are offering health care coverage
There has been a recent increase in group health insurance plans offered by small business owners. This is due in part from the introduction of federal tax credit enticement from last year’s health care reform. In the fourth quarter of 2010, Blue Cross and Blue Shield of Florida Inc. saw a five to six percent increase in group health insurance and this trend is continuing in 2011. BCBS senior director of external communication, John Herbkersman, agrees that there is quite a bit of interest in coverage options from small businesses.…
Read More
