House GOP proposes auto-industry-funded insurance program

THe House GOP leadership Wednesday released an alternative plan to the Democrats' proposed $15 billion in loans to the auto makers. The plan is reminiscent of an loan-insurance-themed proposal that House Republicans pushed hard during the financial bailout debate. The plan would be industry funded.

During the financial debate, critics argued that the banks didn't have the capital to fund the insurance plan. It's likely that automakers would also claim they don't have the cash to fund the insurance program. Indeed, GM has said it might not have enough cash to continue operating for more than a few weeks.

"Rather than a taxpayer-funded government bailout that replaces private investment,," explains a leadership memo, "the House GOP plan proposes that the government provide insurance, funded by the participants with a modest FDIC-like fee, which would cover up to 50 percent of the losses of new investment in the case of default, helping to unlock immediate private investment."

The outline of the plan, and a statement from Minority Leader John Boehner (R-Ohio), after the jump...

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New Online Car Insurance Shoppers Now Have More Choices for Car Insurance Quotes

Delaware, Idaho, Nebraska, and Vermont Can Now Compare Car Insurance Quotes at CarInsurance.com

Last update: 4:10 p.m. EST Dec. 5, 2008

ALTAMONTE SPRINGS, Fla., Dec 05, 2008 (BUSINESS WIRE) -- This week CarInsurance.com expanded its online car insurance platform into Delaware, Idaho, Nebraska, and Vermont. CarInsurance.com provides a simple platform so visitors can get a car insurance quote and purchase online car insurance. CarInsurance.com offers a lineup of auto insurance companies including Direct General, Progressive, Esurance, Unitrin Direct, Travelers, Safeco Insurance, The Hartford, QBE, Meritplan Insurance, and Newport Insurance. CarInsurance.com offers its Online Insurance Marketplace(TM) in all 50 states and the District of Columbia, along with services in Canada and the United Kingdom. In 43 states and the District of Columbia, they offer products through their independent agency system. As a leading online independent insurance agency, they can offer you the ability to purchase online car insurance or purchase insurance over the phone. You can compare rates and purchase a policy immediately through their website so you get a single-site car insurance shopping experience.

Delaware, Idaho, Nebraska, and Vermont drivers can now experience the best place to shop, compare, and buy online car insurance. CarInsurance.com offers choice, accuracy, and convenience for online shoppers. With auto insurance, each insurance company is targeting a different kind of driver or situation. It is CarInsurance.com's job to match you with the company that is the best suited for you and your situation. Auto insurance companies' rates change regularly, so you have to get a car insurance quote and compare rates to save with online auto insurance.

CarInsurance.com's goal is to make shopping and comparing easy. After you fill out the simple online insurance quote form at http://www.CarInsurance.com, you see a sampling of company choices and you can easily choose the best company. Accuracy is important; CarInsurance.com marries their technology with simplicity. The car insurance quotes you see come directly from the insurance company rating systems, so you save your time by going to a single site. You can choose the best company and buy online or purchase your policy over the phone to save your money. When you buy insurance online at CarInsurance.com, your final rate, and underwriting comes directly from the insurance companies' systems.

"We have worked to make sure visitors can do everything themselves online, and we have licensed agents available to assist shoppers in choosing and purchasing the best car insurance for their needs," said Executive Vice President and CIO, David Fitzgerald. "More and more shoppers are going online to get a car insurance quote; with our site we can help consumers find the best rates, the best protection, and save their time by using a single site to compare insurance products."

CarInsurance.com has completed its 2008 growth strategy. On January 28, 2009, they expect to complete their national footprint and expand into Alaska, Hawaii, Montana, North Dakota, South Dakota, and Wyoming. In addition, they will increase the number of online car insurance carriers throughout 2009, so visitors can shop and compare more auto insurance companies online.

About CarInsurance.com, Inc.

Based in Altamonte Springs, Florida, CarInsurance.com gives consumers the ability to instantly compare and buy competitive auto insurance rates directly from multiple insurance companies. Not only do consumers have an easy interface to review the rates of multiple insurance companies, but also when ready to purchase, consumers have the option of completing the transaction online or by talking directly to a licensed agent. The same insurance team has owned and operated the CarInsurance.com domain since 1995, making it one of the first online car insurance websites. CarInsurance.com helps consumers and insurance companies by providing companies new customers through real-time quoting and underwriting. Save your time. Save your money.(R)

SOURCE: CarInsurance.com

CarInsurance.com, Altamonte Springs
Erick Pace, 407-260-2220 extension 222
PressServices@carinsurance.com
http://www.CarInsurance.com

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Free Auto Insurance Quotes Search Can Save Shoppers Hundreds Of Dollars A Year

(live-PR.com) - North Hollywood, CA ( Live-pr ) October 7, 2008 — InsuranceBureau.com has introduced an easier way to save money and find cheap auto insurance quotes. (www.InsuranceBureau.com) InsuranceBureau.com, an informative site featuring insurance tips and information, now provides a free service to all website visitors; searching for affordable auto insurance quotes. An exhaustive search for car insurance quotes can be completed with just as much thoroughness as traditional methods by using the auto insurance quotes finder on the website.

The impact of this quick and easy car insurance quotes service is making a splash among consumers looking for ways to save money in a troubled economy. Shoppers receive unbiased and competitive auto insurance quotes using just one single car insurance quotes form, not several different applications.

InsuranceBureau.com finds (www.InsuranceBureau.com) auto insurance quotes for consumers to compare at their leisure with no sales pressure to purchase a policy. Also, comparing car insurance quotes in this way ensures the consumer is getting the absolute most competitive auto insurance quotes possible. To learn more about how to receive free car insurance quotes with ease, visit (www.InsuranceBureau.com) InsuranceBureau.com.

www.InsuranceBureau.com
6400 Laurel Canyon Blvd, Ste 460
North Hollywood, CA 91606
Phone: 800.647.2164
Fax: 800.647.2142

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John Alsop Insurance Agency Announces New Enhancements To Their Auto Insurance Product

Modesto, CA (1888PressRelease) November 30, 2008 - John Alsop Insurance Agency has 25 years of experience in the insurance industry. The company offers many different types of insurance products including auto, home, commercial, health and life insurance. They also offer financial products for investment purposes. John Alsop Insurance Agency offers free client welcome kits & 24/7 customer service to all its customers. They also offer free policy reviews to understand what people need in their emergencies.

John Alsop Insurance Agency has recently announced addition of new features to its “Your Choice Auto” insurance product. The new features include deductible rewards, a safe driving bonus, ticket mitigation and accident forgiveness to the drivers.

People can save up to 37% by combining all their insurance policies with the John Alsop Insurance Agency. Free quotes can be obtained for any insurance product in 5 minutes or less with no extra broker fees. For payment facilitation, John Alsop Insurance Agency accepts Cash, Check, Visa, MasterCard and AMEX.

An automobile liability insurance policy in California with John Alsop Insurance Agency typically has all or a combination of these coverages:

- Bodily Injury Liability (BI or AA)
- Property Damage Liability (PD or BB)
- Medical Payments (CC)
- Coordinated Medical (CX)
- Uninsured or Underinsured Motorist (UM, UIM or SS)
- Collision (DD)
- Comprehensive (HH)
- Rental Reimbursement (UU)
- Towing and Labor (JJ)
- Replacement Cost Coverage (RC)
- Loan or Lease Gap
- Sound System Coverage (ZA)
- Tape Coverage (ZZ)

According to the Agency Owner, John Alsop, “The Your Choice Auto product gives drivers the opportunity of choosing a package that’s right for them. The Platinum Package includes Accident Forgiveness, Deductible Rewards and Ticket Mitigation also. It’s quality insurance at an affordable price.”

About John Alsop Insurance Agency -
John Alsop Insurance Agency, founded in 1991, is an insurance firm with six locations in the cities of Montclair, Rancho Cucamonga, Chino, Ontario and Montebello. They serve more than 20,000 customers and offer all types of insurance products including, but not limited to, auto, home, renters, commercial, health and life insurance. They also offer financial products for investment purposes.

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New Colorado Car Insurance Law Drives Consumer Education

Starting this month, the mail and inboxes of Colorado drivers will begin filling up with notices from their car insurance companies informing customers of a new "opt-out" requirement due to a new Colorado Law that takes effect January 1, 2009. Because many car insurance policy renewal notices are sent 60 days in advance, drivers whose coverage renews in January will start receiving revised premium notices — along with an optional rejection form, according to the Rocky Mountain Insurance Information Association. However, it's important for all Colorado insurance consumers to understand how the legislation affects their insurance, the association advised.

Colorado Senate Bill 08-11 creates a mandatory opt-out of $5,000 in medical payments coverage (MPC). Medical payments coverage is currently optional auto insurance coverage that is offered in many different amounts — ranging from $1,000 to $100,000. This is extra coverage on the auto policy that pays for the driver and passenger(s)'s medical bills regardless of who causes the accident. If Coloradoans buy this coverage it is in addition to health insurance and settlement money from an at-fault driver.

During the 2008 Legislative Session, Colorado lawmakers passed a bill that will require car insurance companies to add $5,000 of medical payments coverage to every car insurance policy, unless the customer rejects the amount in writing or in the same way it was sold to them (i.e. telephone, Internet).

For policies that go into effect after January 1, 2009, the additional $5,000 in med pay coverage will be automatically rolled on. For customers who don't already carry med pay this will mean a new premium. If drivers purchased less than $5,000 previously, the company is still required to offer a $5,000 limit, since the lower limit amounts will no longer be offered. Bottom line: Drivers will need to buy $5,000, choose a higher limit, or reject all medical coverage by sending back the rejection form, RMIIA explained.

It's estimated that about 32 percent of Coloradans currently choose to purchase some amount of medical payments coverage on their car insurance policy. "So the implementation of this new law will require the majority of Colorado drivers to again carefully weigh their decision to buy extra medical coverage and take action to reject the coverage if they determine they don't want or need it," saidCarole Walker, RMIIA executive director. That's why it's important for agents or company representatives to talk aboutinsurance choices and make sure their clients have the protection that's right for them, she advised.

Colorado insurance companies are taking steps to make sure their customers understand their options and the new opt out legal requirements. Companies are implementing education campaigns that will start this month to inform their customers, agents and employees of the law changes. RMIIA also has new educational guides, "Colorado Car Insurance GPS," that help steer drivers though their coverage choices. For information, visit http://www.rmiia.org/downloads/RMIIA_CO_auto_insurance.pdf.

Source: RMIIA

New Auto Insurance Law Includes 'Opt-Out' Requirement

DENVER -- If you are about to renew your automobile insurance you may want to look closely at your next bill.A new law goes into effect Jan. 1, that will require you to opt-out if you do not want extra coverage for medical care."It was in response to the huge crisis in trauma care and funding," said Sen. Betty Boyd, D-Jefferson County.

The bill's main sponsor, Sen. John Morse, D-El Paso County, told 7NEWS, "That after Colorado switched from 'no fault' insurance to 'tort', many medical providers were finding that they weren't getting paid.”“If they were,” he said, “sometimes it was years later."Right now, motorists have the option of purchasing extra medical coverage on their auto insurance.Next month, that option turns 180 degrees."If they do nothing, $5,000 worth of extra medical coverage will be automatically added to their coverage." said Carole Walker, of the Rocky Mountain Insurance Information Association.Walker said customers still have a choice, but they need to take action to decline it, if they don’t want it.She said the change was made to force motorists to assess what their needs are."If they don't have health insurance, they strongly need to consider the extra medical coverage," Walker said. "Even if they have health insurance, they should consider the extra medical coverage it if they have high co-pays or deductibles."Walker said the good part about the extra coverage is that you don't have to wait for a final settlement, from somebody who caused the accident, to pay your medical bills.Many motorists are not aware of the new law."I didn't learn about it until you told me," said Jamaica Shirley outside a supermarket in south central Denver.Like many people, Shirley said she doesn't pay that much attention to her insurance bill."I just open it and pay it to be honest," she said. "I couldn't tell you what it covers or anything, which is not good."Walker said anyone who drives should pay close attention to everything in their policy."I always tell people that the time to think about what kind of insurance they need is before an accident, not after," she said.Walker added that about 32 percent of Coloradans currently buy medical payments coverage.

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State Web site updates insurance comparisons

BATON ROUGE -- An electronic guide that allows consumers to compare homeowners and auto insurance rates has been posted on the state Department of Insurance's Web site, the first time in two years the data has been revised.

Insurance Commissioner Jim Donelon said the site includes basic information from a wide range of companies, based on 2008 rates, and from a spread of large and small cities across the state, from the town of Batchelor northwest of Baton Rouge, to New Orleans, Slidell and Shreveport.

Twenty-two companies' premiums are featured in the homeowners guide and 30 in the auto guide.

"This is as accurate as we can make it," Donelon said.

The guides feature premiums quoted by "top carriers of auto and homeowners insurance in the state," and links to the individual company's sites, he said.

Donelon said he expects the agency will continue to publish the information every other year.

The automobile insurance guide reflects different scenarios, based on locations, driver age, type of vehicle and driving record of the individual.

The homeowners premium guide reflects rates based on location and age and price of the home.

Donelon noted, however, that the guides may not fit an individual's exact circumstance. "These rates are for comparison purposes," he said.

Donelon said that an individual who shops around may find a company not listed in the guide that can offer better rates, coverage and service.

More information about the guides and the data is available by calling the department at 1.800.259.5300.

The department can provide information on the companies' national rating and the number of complaints -- if any -- filed against each one, Donelon said.

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