We’re not done yet – but two of our newest carriers are providing some of the most amazing rates on Commercial Auto and Commercial General Liability Insurance going.
Many of our artisan contractors are getting Liability Insurance premiums under $1000 a year.
Likewise – people who need Commercial Auto Insurance are finding sometimes that the rates for Commercial Auto are lower than their own Personal Auto Insurance.
Posted in Commercial, Commercial Auto, Commericial Liability, E&O, D&O.
That’s exactly what Ashby Communications, Inc. did.
We re-wrote their commercial auto renewal to a new company.
Patrick Taylor out at Auto Tec in Loomis saved $500 when we re-wrote his Worker’s Comp.
This year – we have also been saving our contractor clients loads of money by moving them in to a new program that has opened up for small contractors as well.
These are just a few of the items in our bag of tricks!
Posted in Uncategorized.
The story linked below says it is mostly due to rate increases.
Rates are going up due to the economy and the increased incidences of Fraud for one, and also the increased incidences of claims. People aren’t just paying for little stuff with finances being so tight.
Check out the attached article
Posted in Auto Insurance, Family / Individual.
Some people have already criticized this roundly.
Suffice to say, when this gets hashed out, there will be rate increases coming. It would look as if the Work Comp reforms of Governor Arnold are all but obliterated.
Quoting the Worker’s Comp Executive:
“It’s going to be in the ball park of 30%,” chief actuary Dave Bellusci tells Workers’ Comp Executive. “But I wouldn’t be surprised if it’s over.” Workers Compensation Insurance Rating Bureau (WCIRB) staff still has to finalize the calculations before preparing a pure premium advisory rate recommendation for the Governing Committee, it says, so the final numbers could still change a bit. But a 30 point increase is the general consensus of its Actuarial Committee. This comes against a backdrop where the WCIRB’s veracity and integrity are continuing to come under question.
Posted in Government & Regulations, Worker's Comp.
I’m sorry – I read this story and could think of no better title.
To what extent did the insurance company profits amount to?
WellPoint earned about $22 per medical insurance enrollee during the quarter..
Aetna earned about $27 in net profits per insurance plan enrollee during the quarter, or about $9 per month..
Now you know the mentality of those that pushed Health Care Reform – if we made $9 per month per insured, we’d have gone bankrupt years ago.
Every now and then – I read something that just rubs me the wrong way. But, members of Congress who call a $9 per person per month profit a windfall should not be in office.
— end of rant —
Posted in Family/Individual Health & Dental, Group Health.
This is a big deal.
Imagine having to deal with the government for questions and answers about your health insurance?
Even members of Congress think that’s a bad thing – which is why several of them are fighting to make sure independent Brokers are part of the rollout of the new Government-Run Health-Care provisions in the bill.
It is important the consumer’s options to contact independent and state-licensed health insurance agents and brokers be included no later than Oct. 1,” the letter said.
Rep. Charlie Melancon, D-La., originated the letter, and eight Democrats and 17 Republicans signed it.
“It is our belief that consumers will benefit from this arrangement and will respond positively to the new portal method of purchasing health insurance if they are able to access the personalized service of an insurance agent or broker,” the letter said
Posted in Employee Benefits, Family / Individual, Family/Individual Health & Dental, Group Health.
We knew this was coming.
The article is from Weiss rating services, one of the major Insurer Credit rating services and I am excerpting the key quote from their article below:
Martin D. Weiss, president of Weiss Ratings, said in a statement that provisions in PPACA, such as the removal of certain reimbursement limits and mandated coverage for pre-existing conditions, will force health insurers to spend more on medical care.
“Most large health insurers will be able to handle it. But we are concerned that weaker, less profitable insurers will be forced out of the market, reducing competition and ultimately leading to fewer choices and higher premiums for consumers,” he said.
If what the rating service says is true – then the latest Government foray in to insurance will have the same effect as almost every previous one: Higher rates.
Posted in Family/Individual Health & Dental, Group Health.
Risk Retention Groups are groups where the insureds buy in for a portion of the overall group… like a Mutual Insurance Company, only a lot smaller.
RRG’s as they are called sprouted up all over America after a law allowed them to start existing in 1981.
Apparently, states (Including California) have been attempting to meddle in their ability to do business and this has come back to the attention to Congress.
What does this mean to you? If you’re a roofer, building demolisher, etc. or any other really “High-Risk” business, your ability to get Liability Insurance is difficult at best.
The more affordable premiums RRG’s offer may be the only way some of these business are able to continue to exist.
Posted in Commericial Liability, E&O, D&O, Insurance Industry.
Well – like anything that tells insurance companies how to do business, it creates chaos.
Traveler’s is the last major company to get compliant with Prop 103 – which was a measure designed to help Southern California Auto rates at the expense of Northern California.
It hasn’t worked that way.
Prop 103 dictates how to divide territories for rating of Personal Auto policies… I have seen the rate changes from Traveler’s related to their Prop 103 filing and there is no rhyme or reason to them.
If you hear from me – it means you got a rate increase as a result.
Posted in Auto Insurance, Family / Individual.
As you know from reading my writing – I am not a fan of government.
This “Financial Reform” bill is a mess – it slams banks and credit unions and will have the effect of making loans extremely difficult to get. It is an over-reaction to the willy-nilly “Boom” of the 1990’s.
One thing they did get right was regulation of Surplus lines fees and taxes. Some states (Including CA) used to make people pay twice on Surplus lines taxes.
Now – if you have a business in multiple states that has to have a high-risk surplus lines policy, you will pay pro-rated taxes based on the porportion of your operation in each state as opposed to some states (like California) that gouged you for the entire amount if all or part of your business was in that state.
Proof that a broken clock is right twice a day.
The source article is linked here.
Posted in Commericial Liability, E&O, D&O, Government & Regulations, Insurance Industry.