tate Auto Financial Corporation today reported first quarter 2010 net income of $12.9 million, or $0.32 per diluted share, versus a net loss of $14.0 million, or $0.35 per diluted share, for the first quarter of 2009. Net income from operations* per diluted share for the first quarter 2010 was $0.27 versus a net loss from operations* of $0.18 for the same 2009 period.
comScore, a leader in measuring the digital world, today released its 2010 U.S. Online Auto Insurance report, based on behavioral data from comScore’s 1 million person U.S. panel and a survey of more than 2,000 U.S. Internet users to understand attitudes and intentions with regard to conducting auto insurance transactions online. The report found that U.S. consumers submitted requests for 38.8 million online quotes in 2009 and purchased a record 2.8 million policies online during the year, each representing an increase of more than 20 percent versus the previous year, as consumers sought ways to save on auto insurance during the recession.
The State Auto Insurance Group has reached a significant milestone in its sales of personal lines insurance: one million policies and one billion dollars in premium.
State Auto offers auto, home and other personal lines insurance products in 33 states. The company has experienced considerable growth in Arizona, Colorado, Connecticut, Texas and Utah, where State Auto most recently began offering personal lines products.
Americans paid $1.241 trillion in premiums in 2008 - or $4,114 per person alive that year. About 47 percent went to life insurance, the rest to other types of coverage.
to insurance rates have climbed steadily in Louisiana since Hurricane Katrina and are now the highest in the nation, with the average driver paying an annual premium of $2,510.
There still is no single comprehensive insurance marketplace on the Web; consumers have to visit several sites, filling out time-consuming forms at each, to glimpse the range of rates being offered.
It would seem to be an ideal solution for cash-strapped drivers: Just as auto insurance premiums are poised to rise, the state is requiring insurance companies to offer a low-cost alternative.
Starting July 1, 2000, good drivers with low incomes can qualify for the new bare-bones policies, which will initially cost $450 a year in Los Angeles and $410 in San Francisco, the only two cities where the experimental coverage will be available.
Mercury Insurance Group, a major backer of a hotly contested insurance measure on the June ballot, faces potentially costly fines in the wake of a new state report alleging that California’s third-largest insurer is violating state laws “despite agreements with the state to terminate illegal behavior.”
Most states have established a minimum amount of coverage that must be in place in order to register an automobile and maintain registration; this is true whether the vehicle owner is licensed or not.
The Maryland Senate voted this morning to raise the minimum liability limits for vehicle owners’ auto insurance for the first time in 38 years. The final vote was 27-20, sending the bill to Gov. Martin O’Malley for his signature.