Top National Insurance Stories in 2007

Top National Insurance Stories in 2007 :
“The debate over climate change captured the world’s attention, including the insurance industry’s, in 2007, while major hurricanes spared the United States’ coastline. The soft market took hold of virtually all segments of the insurance market and even buyers in catastrophe-prone regions saw some rate relief. The sub-prime mortgage meltdown seems to have spared much of the industry but the directors and officers market is likely to feel the heat. The safety of products made in China and elsewhere was called into question and manufacturers and parents dealt with hundreds of product recalls. Agency compensation was again a topic of concern as a handful of carriers banned the use of contingent commissions at the beginning of 2007 while a few carriers introduced new supplemental incentive plans to reward profitable agents. One of the world’s largest insurance brokers made headlines for producing less than stellar results, while wildfires, floods and other natural disasters prompted several legislative initiatives in states and on Capitol Hill. And in the last days of 2007, the renewal of the Terrorism Risk Insurance Act became reality.
The following are the top 10 news stories of the year, Top Insurance Stories:

2008 Top Safety Picks Vehicles

“Thirty-four vehicles earn the Insurance Institute for Highway Safety’s Top Safety Pick award for 2008. The award recognizes vehicles that do the best job of protecting people in front, side, and rear crashes based on ratings in the Institute’s tests. Winners also have to be equipped with electronic stability control (ESC), which research shows can significantly reduce the risk of crashing…..” From the Insurance Institute of Highway Safety

11 NEW WINNERS FOR 2008

Midsize cars
Audi A3 Honda Accord

Small car
Subaru Impreza equipped with optional electronic stability control
MinivanHonda Odyssey

Midsize SUVs
BMW X3BMW X5
Hyundai Veracruz built after August 2007Saturn VUE built after December 2007Toyota Highlander
Small SUVHonda Element
Large pickupToyota Tundra

Ford Motor Developing Child Crash Test Dummies

Ford Motor Developing Child Crash Test Dummies:
“A high-tech insert, similar in size and shape to a 6-year-old’s abdomen, is being developed for crash test dummies to help improve vehicle safety for children.
The prototype is part of an effort to make pediatric crash dummies and crash tests more real world, leading to better vehicle restraints, according to a Ford Motor Co. release.

Call Dick Watts Insurance 502-245-3625 for a free auto insurance quote

The Dearborn-based automaker is developing the prototype. Partners in the collaboration include Wayne State University in Detroit, Children’s Hospital of Philadelphia, and the Takata Corp., which makes automotive safety systems…..” Insurance Journal

Foreclosures jump 30% in 3rd Quarter

“Foreclosure actions were reported on more than 446,000 properties the three months ended Sept. 30, up 30 percent from the second quarter and double last year’s third quarter. That brings the overall foreclosure rate to one in every 196 U.S. households…..” Foreclosures Increase

visit: kentucky-insurance.com

Progressive Unveils Industry's First Web 2.0 Site

“ Quick … which major auto insurer is the first to recognize that how people use the Web has changed and has responded by introducing the industry’s first Web 2.0 site? Why, Progressive, of course. The Progressive Group of Insurance Companies, the first major insurer to introduce a Web site in 1995, today unveils the industry’s first Web 2.0 site.
“This is about watching and reacting to trends to keep our site relevant to all users. It moves progressive.com content from static to interactive,” said Toby Alfred, general manager, customer acquisition, Progressive “The redesign lets users get more from their visits; share their experiences; and have their progressive.com experience delivered to them in blogs, RSS readers and personal home pages.”

call Dick Watts Insurance 502-245-3625 for a Progressive Drive Insurance quote

The new site features easier navigation, more personalization and customization, easier-to-use video content (and more of it) and more visuals throughout. The site also features content channels – www.progressive.com has joined forces with industry experts to bring exclusive content to the Web. …..Progressive’s New Website

Why Renters Need Insurance

Why Renters need insurance:

“ACCORDING to the Insurance Information Institute , renters are 50 percent more likely than homeowners to be victims of burglars.

But while 96 percent of homeowners have homeowner’s insurance, which covers theft, only 43 percent of renters have such insurance, said Jeanne M. Salvatore, a spokeswoman for the institute. “And that’s a shame because a basic renter’s policy not only provides coverage for theft, it also provides coverage for personal property and liability coverage for personal injury to others,” Ms. Salvatore said.

Robert Owens, the president of the Owens Group, an insurance brokerage in Englewood Cliffs, N.J., says many renters who do not have their own insurance believe they are adequately covered by the building’s insurance policy. “The renter’s personal property is not going to be covered by the building’s policy,” Mr. Owens said…….. Kentucky Insurance info

Renters can choose between two types of coverage. “Actual cash value” coverage pays to replace damaged items after taking depreciation into account. “Replacement cost” coverage pays to replace the property at today’s cost. The premium for replacement coverage is typically about 10 percent higher…….” Renters Insurance

Yum Brands and the Worlds largest CSR Project

“Yum! Brands (NYSE:YUM), parent of KFC, Pizza Hut and Taco Bell, today launched the world’s largest hunger relief effort in an attempt to help stop world hunger. Called "World Hunger Relief Week,” the program supports the United Nations World Food Programme, the frontline agency in the fight against global hunger. During October 14-20, 35,000 company and franchised restaurants located in 112 countries will be participating in some way, including KFC, Pizza Hut, Taco Bell, Long John Silver’s and A&W All-American Food.“

From Businesspundit:
”Yum Brands based right here in Louisville, KY, launch what may be the largest CSR project ever undertaken by a public company. What is it all about? According to Nick Huhn of Yum, it’s about the world’s largest food company partnering with the world’s largest hunger relief effort….“…Yum Brands & the world’s largest CSR Project

Most Renters Don't Bother With Insurance

Most Renters Don’t Bother with Insurance:

“A recent survey of renters commissioned by Trusted Choice found that most Americans who rent their homes don’t have insurance that would cover their losses in the event of burglary, fire or other unexpected occurrences.
Trusted Choice, based in Alexandria, Va., is the consumer marketing brand for 6,000 independent insurance agencies and brokerage firms across the country. The survey of more than 2,000 adults was conducted in mid-May by ICR, an independent research firm.
Madelyn Flannagan, a spokeswoman for Trusted Choice, said the survey "uncovered a persistent lack of awareness or understanding about property and liability risks faced by renters.”
Two-thirds of those surveyed don’t have renters’ insurance. There are 35 million Americans who rent rather than own their own home, according to figures Trusted Choice obtained from the National Multifamily Council.“ from Reality Times

Identity Theft Gone in 4 Seconds

The threat of Identity Theft continues to grow with over 100 million identities compromised in 2006 alone. This represents 1 out of 3 Americans affected. Identity theft is now the number one consumer crime in America occurring three times more often than home and auto theft combined.

This video has some great tips about how to reduce the risk of ID theft

Why you may need Gap Insurance for your new car

Why you may need GAP Insurance for your new car


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Formeost Insurance

What is the payment address for Foremost Insurance?

visit our Frequently Asked Questions Blog

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68 million Americans do not have Life Insurance

“A recent survey indicates that 68 million Americans have no life insurance and those with coverage have far less than most experts recommend to ensure a secure financial future for their families. In fact, ownership of life insurance has been declining for decades and the impact is being felt in very human terms today. When a loved one dies without adequate life insurance coverage, surviving family members often face very difficult financial consequences like having to work additional jobs or longer hours, borrow money from friends and family, move to smaller, less expensive housing, or put plans for a child’s education on hold.
With so many Americans in a financially vulnerable situation today, the life insurance industry has created a month-long public awareness campaign aimed at encouraging the public to take stock of their life insurance needs. Life Insurance Awareness Month (LIAM) is an industry-wide effort coordinated by the nonprofit Life and Health Insurance Foundation for Education (LIFE)…

FINALLY!” SAYS FIDO, “A CAR INSURANCE COMPANY THAT GETS IT”

from Progressive Insurance :
““FINALLY!” SAYS FIDO, “A CAR INSURANCE COMPANY THAT GETS IT”

Dogs and Cats Everywhere Jump for Joy as Progressive Introduces Pet Injury Coverage,
Included At No Extra Charge For Customers With Collision Coverage

MAYFIELD VILLAGE, Ohio (Sept. 10, 2007) – If you’re like most of us, nothing gets your tail wagging faster than hitting the open road with your “master” at the wheel and you in the passenger seat, the windows rolled down, the wind in your fur.

But does it ever get stuck in your paw – I mean craw – to think that if something happens and this fancy metal cage with the four donut-shaped rubber chew toys that you’re riding in slams into something (your master would call this a “car accident”), your master’s car insurance policy would cover everyone in the car…except YOU?

Well, finally, there’s one car insurance company that is stepping up and giving man’s best friend the stature we’re due. The Progressive Group of Insurance Companies announced that it’s gone to the dogs – and cats. In most states, a Progressive policy with Collision coverage will now cover its customers’ canine and feline four-legged family members.” (specific limits apply check your own policy for specific coverages)

Progressive Insurance Commercial

Call us today we represent Progressive Insurance
Dick Watts Insurance 502-245-3625

Hurricane Season 5 Tips to Protect Yourself

Hurricane Season: Five Tips to Protect Yourself, Your Family and Your Property

The 2007 hurricane season, which starts June 1 and runs through November 30, is expected to be an active one. London-based forecaster Tropical Storm Risk, predicts that there is an 86 percent probability that hurricane activity in 2007 will be in the top one-third of years historically. Colorado State University forecasters William Gray and Philip Klotzbach predict that there will be 13 named storms, four more than the average, with four major hurricanes and eight lesser ones. Experts at the NOAA Climate Prediction Center are projecting a 75 percent chance that the Atlantic Hurricane Season will be above normal this year—suggesting that more active and intense hurricane seasons will continue to be the trend…..