Natural disasters are taking a toll on Progressive insurance's bottom line and led to huge losses
Posted: October 14, 2016
The insurance industry's basic business model hinges on the idea that, over the long run, insurers can be profitable if they are smart about the policies they underwrite. For Progressive, profiting from solid underwriting practices has been a big part of its success, yet weather always plays a factor in determining short-term results. Coming into Thursday's third-quarter financial report, Progressive investors expected that the insurer had...
You Have A Choice
Posted: August 29, 2016
N.Y. Gov. Cuomo signs bill mandating insurers remind customer of right to pick auto body shop By John Huetter on July 26, 2016 Announcements | Associations | Business Practices | Insurance | Legal After what a collision repair trade group called a four-year lobbying effort, Democratic Gov. Andrew Cuomo has signed a bill mandating that insurers must tell customers about the New York shop choice law....
ARE YOU COVERED?
Posted: August 3, 2016
Does homeowner's insurance cover floods? As residents affected by superstorm Sandy head back to their homes, many are likely to face an unpleasant reality: Homeowners insurance does not cover flooding. Only people with flood insurance are covered against the kind of storm surges that cascaded through New York and New Jersey. Those with homeowners insurance alone are likely to be compensated for their losses only...
More cars earn top marks for safety
Posted: August 2, 2016
Despite stricter requirements and tough new crash tests more vehicles earned top marks from the Insurance Institute for Highway Safety. This year, 71 vehicles earned the Insurance Institute for Highway Safety's Top Safety Pick awards compared to 39 last year. That number includes vehicles winning the Institute's stringent Top Safety Pick Plus award, a feat managed by 33 vehicles this year, 11 more than...
How Much Insurance Does Your Small Business Need?
Posted: July 29, 2016
What initiates the need for business insurance? If you are in business, you need insurance. The question is - what kind of policy is appropriate? And this is true even if you are a home-based business. If you are consulting or providing expert advice, you may need to purchase errors and omission insurance. A landlord will often require a general liability policy as part of...
