Independent insurance agents in Massachusetts are looking to bar credit scores from playing a part in the pricing of auto insurance. The Massachusetts Association of Insurance Agents (MAIA) is leading the charge, hoping to gain enough support from the public and insurance companies to ensure that factors like occupation, education and credit score do not contribute to the overall cost of insurance. Unfortunately, a number of prestigious insurance companies have rallied against the proposal. MAIA holds that auto insurance prices should be dependent upon an individual’s driving record, not their…
Read MoreTag: storm damage
Storm chasers prey on unsuspecting homeowners in times of chaos
Senate Bill 101 passed by an almost unanimous vote, sending the consumer protection law on to Missouri Governor Jay Nixon. The bill was created to protect homeowners from being ripped off by scamming contractors and home repair workers. Unfortunately, in times of disaster, some people will see it as a money making opportunity. They know that typically, after an area is hit by a natural disaster, state and government funds are poured into that region to help aid and recovery efforts. The officials call these unethical people “storm-chasers”. This is…
Read MoreDamages start to add up for recent storm disasters
AIR Worldwide, a catastrophe modeling firm, is estimating that the damages from the ongoing winter storm ravaging the north-eastern United States, a storm the firm claims is the largest since the 1950’s, could be affecting more that 100 million people across 30 states. Insurers are saying the cost of damages to properties, automobiles, and persons could be as much as $1.4 billion – that would be the cost when the storm was at its peak during February 1st and 2nd. The storm broke snowfall records for most of the state…
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