The Maryland Automobile Insurance Fund was created by the Maryland State Legislature in 1972 to provide auto liability coverage for residents of Maryland who cannot get is elsewhere it the private insurance market. MAIF is actually an independent agency of the state and reports straight to the Governor. It also has to answer to the Maryland State Legislature
New Jersey insurance regulators plan to eliminate a never-used legal entity designed to monitor and encourage auto insurers to write more business in higher-risk areas of the state.
The State of Texas put in place a plan that enables police officers and specified state users to instantaneously check whether or not an automobile is actually insured. The times of fake or phony proof of auto insurance cards and shedding insurance protection soon after getting a legitimate car insurance card are soon to be a thing of the past.
A direct-to-consumer auto insurance company says it has lowered its overall rate for coverage for drivers in New Jersey by 20%.
Wilmington, Del.-based 21st Century Centennial Insurance Co. said the lower overall rate level is for new customers, effective May 10.
But Progressive’s latest attempt to distinguish itself in Pennsylvania - a plan to offer rates based on drivers’ habits, determined by connecting wireless monitors to their cars’ computers - has run into a roadblock.
The Ohio company says its usage-based “MyRate” plan offers drivers in other states, including New Jersey, discounts of up to 30 percent if they drive fewer miles, stay off the roads during the accident-prone hours after midnight, and avoid hard braking.
Michigan’s Insurance Commissioner banned the practice of insurance companies basing the rates their customers paid for auto insurance on their respective credit scores. On Thursday, the Michigan Supreme Court in Detroit effectively vetoed the Commissioner’s ban, and legitimized the practice once again.
Texas insurance regulators ordered The Travelers Cos. to immediately halt broadcast of a television commercial that says drivers could lose their homes if they don’t have sufficient auto liability insurance to cover a crash.
NetQuote, the leading online insurance shopping service for consumers and small businesses, today announced that Paul Ford, CEO, received the Ernst & Young Entrepreneur Of The Year® 2010 Award in the Technology category in the Rocky Mountain region.
Travelers Insurance is currently running a misleading and deceptive television ad in Texas that is meant to scare homeowners into believing they could lose their home if they do not have sufficient auto insurance to cover their liability in an auto accident. Texas Watch has requested an investigation by Attorney General Greg Abbott and Insurance Commissioner Mike Geeslin.
Insurance from AAA in Hawaii will now cost 10 percent less thanks to an approval from the state insurance commissioner. The company said the lower premiums would save Hawaiians about $120 a year on average.