Headline News: Home & Auto

Kelley Blue Book’s November Market Report Now Available

PR Newswire — November 11, 2009

IRVINE, Calif., Nov. 11 /PRNewswire/ — Kelley Blue Book www.kbb.com, the leading provider of new- and used-vehicle values, announces that its November Monthly Market Report is now available at http://mediaroom.kbb.com/blue-book-market-report. This month’s report takes a look at top movers in vehicle values, brand and segment value changes month-over-month and provides an in-depth analysis on how the recession and gas prices are affecting the stability of the marketplace.

Market Report Excerpt:

With people out of work or not working as much as they’d like, families are trying to reduce spending wherever possible, and this slow in spending has hit the auto industry in various ways. One outcome Kelley Blue Book is seeing is that consumers are holding onto vehicles longer, staying away from short-term leases, and if they absolutely must buy a car, they are looking more and more at used cars. In a recent Kelley Blue Book Market Intelligence study, more than half of car shoppers surveyed said they intend to keep their next vehicle for six years or longer. There also have been reports of consumers foregoing auto repairs and pocketing the insurance money resulting from auto insurance claims, just to keep the lights on and dinner on the table.

“In addition to lack of demand in the new-car market and unexpected demand in the used market, a lack of trade-ins coupled with reduced sales to fleet companies also has had somewhat of a negative impact on used-vehicle supply,”

said Juan Flores, director of vehicle valuation, Kelley Blue Book. “The shortage at auction has even led some dealers to scour eBay and Craigslist in order to supplement their used-vehicle inventory via private party listings.”

Values have been relatively stable over the past several months, but the current stability in the marketplace is highly dependent on current supply and demand conditions. Any number of factors could play a significant role in altering this dynamic, which could once again lead to volatility in the marketplace.

About the Kelley Blue Book Monthly Market Report

Each month, the Blue Book Market Report explores the state of the automotive industry by analyzing Kelley Blue Book Wholesale Values, which are produced on a weekly basis from actual transaction data with economical and regional factors applied. The report also delves into developments in residual values every other month, and how the market influences these percentages in a variety of segments.

Furthermore, the Market Report includes data from both Eco Watch(TM) and Market Watch studies conducted by Kelley Blue Book Marketing Intelligence. Eco Watch tracks in-market new-car shoppers’ opinions on fuel prices, alternative fuel-related technologies, environmental issues and vehicle consideration, while Market Watch measures new car pricing report views on kbb.com, capturing shopper activity and interest in specific vehicles.

The forthcoming December Market Report will have a full commentary and forecast for both used-vehicle values and residual values of 2010 model-year vehicles.

For more information, visit www.kbb.com/media.

About Kelley Blue Book (www.kbb.com)

Since 1926, Kelley Blue Book, The Trusted Resource, has provided vehicle buyers and sellers with the new and used vehicle information they need to accomplish their goals with confidence. The company’s top-rated Web site, www.kbb.com, provides the most up-to-date pricing and values, including the New Car Blue Book Value, which reveals what people actually are paying for new cars. The company also reports vehicle pricing and values via products and services, including software products and the famous Blue Book Official Guide. According to the C.A. Walker Research Solutions, Inc. - 2009 Spring Automotive Web Site Usefulness Study, kbb.com is the most useful automotive information Web site among new and used vehicle shoppers, and half of online vehicle shoppers visit kbb.com. Kbb.com is a leading provider of new car prices, car reviews and news, used car blue book values, auto classifieds and car dealer locations. No other medium reaches more in-market vehicle shoppers than kbb.com.

SOURCE Kelley Blue Book

To save money, credit counselors advise consumers to reduce, quit smoking

PR Newswire — November 10, 2009

ATLANTA, Nov. 10/PRNewswire/ –The impact of smoking on your health is well documented. But counselors at Consumer Credit Counseling Service (CCCS) of Greater Atlanta know that it can also wreak havoc on a person’s financial health. Whether it’s helping people struggling with credit card debt or trying to avoid foreclosure, counselors find that tobacco use adds a significant amount to monthly household expenditures and they advise consumers to consider reducing or quitting smoking to save money.

A pack-a-day smoker spending an average of $5.15 per pack could save $1,879 per year by quitting smoking. These funds could be used to cover living expenses, reduce household debt or start a savings plan. Invested in a basic savings plan paying just 3 percent interest, you would have in excess of $21,000 after 10 years. Over 30 years, that figure climbs to more than $91,000.

“Quitting smoking is good for more than just your physical health,” said Michelle Jones, Senior Vice President of Counseling for CCCS of Greater Atlanta.

“Reducing or eliminating tobacco use can significantly increase the amount of money consumers have to use to pay off outstanding debt.”

Even homeowners struggling to make their mortgage payments and seeking a loan modification may be able to benefit by reducing or quitting smoking.

“Any reduction in spending will show the mortgage company that there is more income to put toward a homeowner’s monthly budget,” said Jones. “The better their budget looks, the more likely the lender is to offer a favorable workout, such as a loan modification.”

This year’s Great American Smokeout is November 19, but any day is a good day to give up smoking. “Our clients get a great deal of satisfaction when they quit smoking,” added Jones. “It’s a great first step in improving their physical and fiscal health.”

The financial benefits of quitting extend beyond just the cost of cigarettes.

Increased Employment Opportunities and Productivity - Some employers have begun hiring only non-smoking employees or instituting “no smoking” policies in an effort to reduce overall health care costs and increase productivity.

Reduced Health Care and Insurance Costs - Non-smokers often enjoy lower health and life insurance premiums and general healthcare costs than smokers. In Georgia, state employees who smoke pay $40 more per month for health insurance than non-smokers. Many states have enacted similar policies for smokers, including higher deductibles and increased co-pay rates. Average life insurance premiums for smokers can be double that of non-smokers. Non-smokers may also be eligible for discounts on homeowners’ insurance premiums.

Decreasing Values on Assets - According to Carmax, a used vehicle owned by a smoker will narrow the market of potential buyers and can result in lower trade-in or resale values than comparable vehicles owned by non-smokers.

Similarly, general maintenance costs on a home are higher for smokers and a home that has been smoked in can be harder to sell.

For more information and tips to quit smoking, visit the American Lung Association at www.lungusa.org

About CCCS

CCCS of Greater Atlanta offers online education classes that cover a wide variety of money management topics at www.credabilityu.org.

CCCS of Greater Atlanta serves clients in all 50 states and has 33 offices in four states. It is the headquarters for the CredAbility Network, a family of nonprofit agencies serving consumers in north Georgia, south and central Florida, middle Mississippi and east Tennessee as well as nationally via telephone and Internet.

CCCS is accredited by the Council on Accreditation and is a member of the Better Business Bureau and the National Foundation for Credit Counseling (NFCC).

Governed by a community-based board of directors, CCCS is funded by creditors, clients, contributors and grants from foundations, businesses and government agencies. CCCS offers around the-clock help by phone at 1-800-251-CCCS or at its Web sites, www.cccsinc.org and www.cccsenespanol.org.

SOURCE Consumer Credit Counseling Service of Greater Atlanta

Take the Water IQ Test and Find Out!

PR Newswire — November 9, 2009

NEW YORK, Nov. 9 /PRNewswire/ –Because water can enter your home and cause damage in so many ways, it’s often confusing to figure out what’s covered by insurance and what’s not. The Insurance Information Institute has tips on how to figure it out.

To view the Multimedia News Release, go to:

http://multivu.prnewswire.com/mnr/iii/40966/

Test Your Water IQ:

    –  You discover water in your basement from a burst pipe. Is it covered?

        Yes, your homeowner’s policy protects you.

    –  How about that slow leak that’s been dripping for several months under

        the sink in the bathroom that’s leaked through and stained the ceiling

        below? No. That’s a maintenance issue and your responsibility.

    –  How about a sewer backup? Some policies cover it and some don’t. To be

        covered, it’s an add-on and costs about $50 a year.

    –  A winter storm forms an ice dam around your gutter allowing water to

        enter your home, damaging your roof, ceilings and walls. Covered? Yes.

    –  A storm blows a hole in your roof and breaks a window. Water pours in

        and damages the ceiling. Covered? Yes.

    –  What about flooding? Does my homeowner’s policy cover it? No. To be

        covered you need a policy either from the National Flood Insurance

        Program or a private company.

A good rule of thumb: water that comes from the top down is generally covered by your home or renters insurance, but when it comes from the bottom up as in a flood, it’s generally not. Flood insurance should be considered by every homeowner. Statistics show 26% of losses come from areas that are not deemed as flood zones.

Even a small amount of water can cause serious damage to your home. So it’s important to have a good water IQ. If you haven’t done so in a while, be sure to review your homeowner’s insurance policy with your agent so you know what’s covered and what’s not, and be aware that all homes are at risk for floods.

About the Insurance Information Institute

I.I.I. is an educational, fact finding and communications organization funded by the property casualty insurance industry to explain what insurance is and how it works. Each year, the I.I.I. works on more than 3,700 news stories, handles more than 6,000 requests for information and answers nearly 50,000 questions from consumers.

SOURCE Insurance Information Institute

PR Newswire — November 5, 2009

Is New York’s No-Fault Auto Insurance Crisis Returning?

I.I.I. Analysis Finds Average Cost of No-Fault Claim Has Soared 56 Percent Since

2004

LATHAM, N.Y., Nov. 5 /PRNewswire-USNewswire/ — New York’s auto insurers saw their typical no-fault payment for the medical care of accident victims rise by

56 percent to $8,748 per claim in the second quarter of 2009. This represents a dramatic increase from late 2004, when the average no-fault payment stood at

$5,615 per claim, according to an Insurance Information Institute (I.I.I.) analysis.

The insurance industry, the New York State Insurance Department’s (NYSID) Frauds Bureau, the National Insurance Crime Bureau and law enforcement agencies continue to investigate suspicious claims vigorously, according to Dr. Robert Hartwig, the I.I.I. president and an economist. Yet loopholes in the no-fault system make it particularly vulnerable to fraud and abuse by a “no-fault industry” of corrupt medical professionals, attorneys, and street-level criminals who work on their behalf.

“In less than five years, New York’s auto insurers have seen an extraordinary 56 percent increase in the average cost of no-fault claims, to a great extent the result of abuse and, sometimes, outright fraud in the system,” stated Dr.

Hartwig, in remarks scheduled for delivery today to the New York Insurance Association’s (NYIA) annual meeting in Latham, NY. “The costs of fraud and abuse of the state’s no-fault system ultimately are borne by New York’s honest policyholders. New York’s no-fault claim costs are now the second highest in the country and are 111 percent higher than the U.S. average of $4,152.”

“State lawmakers need to make no-fault auto insurance reform a high priority when they reconvene in Albany for their 2010 session,” said Ellen Melchionni, president of the NYIA. “There are external forces which drive up the cost of auto insurance in this state which can and must be contained.”

The state Insurance Department’s Frauds Bureau, in its 2008 annual report, said that no-fault fraud reports to the NYSID had increased 22 percent since 2006, after the number of these same reports fell 35 percent between 2003 and 2006, Dr. Hartwig observed. Moreover, the Frauds Bureau has significantly expanded its number of no-fault investigations, its 2008 annual report stated.

The term “no-fault” auto insurance is often used to denote any auto insurance program that allows policyholders to recover financial losses, such as medical costs and lost wages, from their own insurance company, regardless of fault. The policyholder’s no-fault benefit coverage is listed under the personal injury protection (PIP) provision of their policy.

Dr. Hartwig said that several proposals have been advanced to combat New York’s growing no-fault crisis, including:

Institute Medical Protocols/Utilization Reviews: Implement medical treatment guidelines for specific auto accident-related injuries so as to reduce instances of over-treatment and/or unnecessary treatments. New York’s no-fault system is one of the few in the U.S. that allows for insurer payment of medical treatment providers while requiring neither mandatory protocols nor utilization reviews.

This virtual blank check drives up system costs dramatically because the PIP payment ceiling is a very generous $50,000.

Require Disputes Be Resolved via Arbitration:Implement an arbitration system to eliminate trial costs for all parties while also expediting claims resolution.

No-fault systems were created to avert courtroom battles. Yet, in New York, no-fault cases are clogging the judicial system’s calendar, especially in New York City. The city courts are so inundated with no-fault cases today that they are currently setting trial dates for 2011.

Streamline the Process for Adjudicating No-Fault Claims:Permit parties with no-fault disputes involving less than $5,000 to submit proof based on a sworn affidavit from doctors. Under today’s system, doctors must appear personally in court, time which could be better spent treating their patients.

Implement Fair Burden of Proof Requirements:Require that, in order to establish the plaintiff’s right to no-fault benefits, the plaintiff must produce a witness with personal knowledge of the facts alleged in the plaintiff’s complaint.

Furthermore, there should be no presumption of medical necessity based on documents submitted by non-medical plaintiffs and/or witnesses who do not have personal knowledge of the facts of the case. New York’s medical treatmentproviders are required only to submit proof that a bill was received by the auto insurer to establish entitlement to receive amounts billed–irrespective of suspicions of fraud or abuse. The burden of the auto insurers is much higher. They are required to produce in court both a witness to testify under oath that the claim was handled in accordance with regulations and a medical expert to testify on the “lack of medical necessity.”

Strengthen anti-runner laws:”Runners” are those who receive a monetary benefit for facilitating a fraudulent insurance transaction, usually by acting as a go-between for dishonest policyholders and unscrupulous medical treatment providers and/or attorneys. The crime is currently a misdemeanor but, if upgraded to a felony, could provide an added deterrent.

For more information, see Dr. Hartwig’s PowerPoint presentation to the NYIA’s annual meeting: New York PIP Insurance Update: Is New York’s No-Fault Crisis Returning?

FOR MORE INFORMATION ABOUT INSURANCE:www.iii.org

THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE PROPERTY/CASUALTY INSURANCE INDUSTRY.

SOURCE Insurance Information Institute

PR Newswire — October 20, 2009

WILMINGTON, N.C. and BUFFALO GROVE, Ill., Oct. 20 /PRNewswire/ — HomeInsurance.com and Home Warranty of America have joined forces to offer homeowners an easy way to obtain comprehensive coverage and competitive rates for their homeowner’s insurance and home warranty needs. Homeowners can visit either company online and gain access to helpful decision-making information, purchase home warranties and options and get quick quotes on home, auto and other insurance.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090224/CG74225LOGO)

“Working with a progressive company like HomeInsurance.com clearly made sense for us as innovators in the home warranty business. We can now both offer our homeowner customers broad home coverage for peace-of-mind and budget security.

Both of our companies strive to educate our customers and give them the highest value possible,” stated Marc Roth, CEO and President of HWA.

“Partnering with Home Warranty of America allows us to not only offer our customers comprehensive homeowners insurance, but also recommend top-of-line home warranty coverage. HWA and HomeInsurance.com share a mutual desire to offer accurate, online rates for reputable coverage to homeowners across the country,”

says Carlos Lagomarsino, CEO of HomeInsurance.com.

About HomeInsurance.com

HomeInsurance.com was founded in 1992 by CEO Carlos Lagomarsino and is headquartered in Wilmington, NC. As a leading source for online home and auto insurance quotes and coverage, HomeInsurance.com has quickly become one of America’s top places to shop for homeowners insurance on the web.

HomeInsurance.com is rated A+ by the Better Business Bureau and is partnered with Travelers, The Hartford, Safeco, Foremost, ASI and ARK Royal- all rated A or better by A.M. Best Company. For more information, please visit:

www.HomeInsurance.com

About Home Warranty of America

Home Warranty of America, Inc. of Buffalo Grove, IL, was founded in 1996 to provide home warranty coverage for houses, town homes, and condominiums. The Company has experienced remarkable growth to become a leading supplier of home warranties across the United States, and provides its services through real estate agents, insurance professionals, relocation companies, developers, title companies, bankers, home inspectors and mortgage brokers. The Company also provides its comprehensive home warranties directly to the homeowner and takes the worry out of buying and owning a home. It offers full coverage for every buyer without the home age restrictions that are common on competitor’s products. Service is a convenient 24/7 toll-free call away and repairs are performed by qualified, approved technicians. The Company offers a 30-day, money back guarantee on every home warranty. More information is available at www.hwaHomeWarranty.com.

SOURCE Home Warranty of America

24th Anniversary Breakfast Brings Together Law Enforcement, Auto Insurers and Community Leaders to Recognize Achievement in Prevention of Auto Theft

PR Newswire — October 20, 2009

LIVONIA, Mich., Oct. 20 /PRNewswire/ — Today’s breakfast and awards ceremony marked the 24th anniversary of H.E.A.T. (Help Eliminate Auto Thefts). Oakland County Executive L. Brooks Patterson keynoted the anniversary event at The Westin Book Cadillac in Detroit before an audience of law enforcement personnel, insurance industry representatives and government officials.

Since its inception in 1985, H.E.A.T., with its partners in law enforcement and the insurance industry, has helped lead to the recovery of more than $50 million in stolen property and the arrests of more than 3,200 suspects involved in auto theft rings, chop shops, carjackings and fraudulent car thefts, among other auto theft-related crimes. H.E.A.T. has paid more than $3.3 million in tipster rewards over the last 24 years.

“H.E.A.T. continues to boost economic prosperity and quality of life among Michigan’s residents by reducing auto theft-related crimes, distributing cash rewards and helping lower insurance rates,” said Terri Miller, director of H.E.A.T. “I congratulate everyone who plays such an important role in improving the safety of Michigan neighborhoods. H.E.A.T.’s success would not be possible without the hard work and commitment of those dedicated to reducing auto theft and insurance fraud in Michigan.”

Oakland County Executive L. Brooks Patterson said that the H.E.A.T. program is crucial to reducing a broader spectrum of auto-theft related crimes, such as identity theft, as traditional auto theft is quickly becoming a thing of the past.

“As increased security features in vehicles reduce traditional auto theft, other crimes like insurance fraud and identity theft are becoming more prevalent.

That’s why programs like H.E.A.T. are essential to law enforcement,” said Patterson. “Because of H.E.A.T.’s confidential and convenient tip line, Michigan neighborhoods and drivers are safer. I commend all of the program’s partners for making H.E.A.T. so successful,” he continued.

H.E.A.T. presented several awards at the event, including the prestigious William V. Liddane Award and the H.E.A.T. Investigator of the Year Awards. The Liddane Award recognizes an individual who has demonstrated an outstanding commitment to the fight against auto theft in Michigan,. The H.E.A.T.

Investigator of the Year and Director’s Awards honor law enforcement and others for their tenacity and hard work in auto theft investigation, arrest, recovery and prevention. This year’s award recipients are:

WILLIAM V. LIDDANE AWARD

    –  Bob Vogt -AAA Insurance, retired

H.E.A.T. INVESTIGATOR OF THE YEAR AWARDS

    –  Det. Dave Andrews - Macomb Auto Theft Squad

    –  Det. Sam Milanovich - Wayne County Sheriff’s Department

    –  Oakland County Sheriff’s Office Auto Theft Unit

        o Sgt. Kevin Banycky- Oakland County Sheriff’s Office

        o Sgt. Charles Bernard - Oakland County Sheriff’s Office

        o Det. Nicole Quisenberry - Oakland County Sheriff’s Office

        o Det. Steve Law- Oakland County Sheriff’s Office

        o Det. Frank Lenz - Oakland County Sheriff’s Office

        o Det. Herman Bishop - Oakland County Sheriff’s Office

        o Det. Marcus Kang - West Bloomfield Twp. Police Department

        o Det. Rich Blendea - Farmington Hills Police Department

        o Det. Chet Bartle - Waterford Twp. Police Department

        o Det. William Hamel - Hazel Park Police Department

        o Det. Sidney Godley - Wayne County Sheriff’s Department

        o Det. Lamar Nelson - Wayne County Sheriff’s Department

H.E.A.T. DIRECTOR’S AWARD

    –  Kim Davies - Macomb County Sheriff’s Office

About H.E.A.T.

Since its inception in 1985, H.E.A.T. tips have led to the recovery of more than $50 million in stolen property and the arrests of more than 3,200 suspects involved in auto theft rings, chop shops, carjackings and fraudulent car thefts, among other auto-related crimes. H.E.A.T. has paid more than $3.3 million in tipster rewards over the last 24 years. Anyone with information on auto theft, carjacking, chop shops, auto theft-related identity theft and auto insurance fraud in Michigan is encouraged to call the H.E.A.T. 24/7 tip line and speak to a live operator at 1-800-242-HEAT, or log on to www.1800242HEAT.com to provide a confidential report.

H.E.A.T. works with Michigan law enforcement agencies to follow-up on tips.

Tipsters are awarded up to $1,000 if the tip leads to the arrest and prosecution of a suspected car thief or a person suspected of auto theft-related insurance fraud. Rewards of up to $10,000 are issued if a tip results in the arrest and binding over for trial of a suspected theft ring or chop shop operators.

H.E.A.T. rewards up to $2,000 for information leading to the issuance of a warrant for a carjacking suspect. The H.E.A.T. tip line is monitored by the Michigan State Police and funded by Michigan’s auto insurance companies.

SOURCE H.E.A.T. (Help Eliminate Auto Thefts)

Organizations Partner to Reward Drivers for Hanging Up Cell Phones when Behind the Wheel

PR Newswire — October 14, 2009

BOSTON, Oct. 14 /PRNewswire/ — Safety Insurance, a leading provider of auto, home and commercial insurance in Massachusetts and New Hampshire, and Safe Roads Alliance, a non-profit organization dedicated to driver safety, announce the official launch of the “Bucks for Hang-Ups” campaign to promote safer driving practices throughout Massachusetts.

The public service program pays drivers $1 for hanging up their mobile phones, encouraging them to avoid distractions while behind the wheel. Safety Insurance’s sponsorship of this campaign furthers the company’s commitment to safer driving.

The “Bucks for Hang-Ups” campaign will select dangerous intersections around Massachusetts. When cars are safely stopped — at a traffic light, for instance

– volunteers will offer $1 to drivers using their cell phones if they agree to hang up and refrain from making calls or texting while they drive.

“Using a cell phone while driving can have serious, and sometimes tragic, consequences,” said James Berry, Vice President of Insurance Operationsfor Safety Insurance. “This program is about rewarding people for becoming safer drivers; one person who hangs up is one less person on the road texting or talking at that moment, which makes the roads safer for everyone.”

Recent research has revealed sobering statistics:

    –  Drivers engaged in cell phone conversations are more susceptible to

        accidents than drunk drivers with blood alcohol levels exceeding the

        legal limit, 0.08.(1)

    –  Cell phone distraction causes 2,600 deaths and 330,000 injuries a year

        in the United States.(2)

    –  There are approximately 974,000 drivers using cell phones on the road at

        any given time during daylight hours.(3)

“Cell-phone related crashes cause thousands of deaths and serious injuries every year. With ‘Bucks for Hang-Ups,’ we hope to emphasize the benefits of avoiding cell phone use while driving and make our roads safer,” said Jeff Larson, president of Safe Roads Alliance. “We’re thrilled to have Safety’s support.”

The “Bucks for Hang-Ups” campaign will run through June 2010 in cities and towns across eastern Massachusetts including Boston, Cambridge, and Dorchester. To learn more about this campaign, please visit: www.SafeRoadsAlliance.org.

About Safety Insurance

Safety Insurance was founded in 1979 with a belief that it would succeed as a company if customers were given the best possible service. A leading provider of property and casualty insurance in Massachusetts, Safety Insurance is the second largest writer of private passenger automobile, and the third largest writer of commercial automobile insurance in Massachusetts. Safety Insurance offers a portfolio of other personal line insurance products, including, homeowners, dwelling fire, and personal umbrella. In addition, Safety Insurance also offers commercial lines insurance products including, business owner policies, commercial package policies, and commercial umbrellas. Sold exclusively through a network of professional independent agents, Safety Insurance provides agents with state-of-the-art tools that make it easy to service and protect their customers. Safety Insurance has consistently received an “A” rating from A.M.

Best. Please visit our website at: http://www.SafetyInsurance.com.

About Safe Roads Alliance

Safe Roads Alliance was formed in 2006 as a not-for-profit Massachusetts organization dedicated to promoting safer driving. Through its High School Outreach Program, Safe Roads offers free presentations to students and parent groups by professional drivers and others on emergency driving skills. Safe Roads also provides educational services to other groups on different aspects of driving safety, including: issues confronting elderly drivers, maintaining a vehicle for safe operation, child restraint systems, seat belt usage, reducing driving distractions, and driver courtesy and reduction of road-rage. Safe Roads is a tax-exempt 501(c)(3) organization whose programs are made possible by the generosity of sponsors and donors. For more information about Safe Roads Alliance, please visit: www.SafeRoadsAlliance.org.

(1) Human Factors Quarterly Journal, www.accidentinfo.com

(2) Human Factors Quarterly Journal, www.accidentinfo.com

(3) 2005 National Occupant Protection Use Survey (NOPUS), NHTSA, http://www-nrd.nhtsa.dot.gov/Pubs/809967.PDF

SOURCE Safety Insurance

PR Newswire — October 12, 2009

Program Has Insured About 50,000 Californians at No Cost to Taxpayers

SANTA MONICA, Calif., Oct. 12 /PRNewswire-USNewswire/ — Despite unanimous support from the State Assembly, Governor Arnold Schwarzenegger vetoed legislation that would have extended California’s Low Cost Auto Insurance program for low-income families. AB 725 (Jones) received bipartisan support to continue offering the bare-bones auto liability policy to poor residents throughout the state, which has become especially important in the midst of 12% unemployment and the worst economy in generations. The program offers insurance to good drivers for about $350 per year and requires no taxpayer money. Since its inception in 2000, when it was just a pilot program, through last month, 48,940 low-cost policies have been purchased by Californians, between 80-96 percent of whom were uninsured prior to enrolling.

The bill, which was co-authored by Assemblywoman Norma Torres (Ontario), would have extended the program through 2015; because of the Schwarzenegger veto, it is scheduled to be shuttered at the end of next year.

“This veto is out of touch with the real economy that many Californians are facing,” said Doug Heller, Executive Director of the nonpartisan Consumer Watchdog. “Why would a program that has allowed nearly 50,000 Californians to buy auto insurance instead of driving uninsured and doesn’t cost the taxpayers a dime be on the Governor’s chopping block? It’s not just low-income families who benefit from this program but all the people who have had their claims paid because another driver was carrying this policy.”

The program’s data show that over the past three years, Low Cost Auto Insurance policies have paid more than $8 million in claims to drivers involved in collisions with Low-Cost policyholders, according to Consumer Watchdog, which has reviewed the data. Since the vast majority of policyholders were uninsured when they signed up for the policy, most of the $8 million would have had to be paid by the insured drivers, their uninsured motorist coverage or by the public health system, were it not for the Low Cost program.

In addition to the thousands of drivers who benefit directly from the program every year, either as policyholders or because an accident claim gets paid, insurance industry testimony over the years has indicated that many more Californians get insured for the first time after inquiring about the Low-Cost program. Because of the program’s strict rules on participation (must be a good driver with household income of 250% of poverty level or less, and meet other rules related to the value of the car and the number of cars in a household), many people find an auto insurance in the private market that they can afford only after first seeking out the Low-Cost policy.

Private market policies can be affordable for moderate-income drivers only because California (unlike many states) prohibits insurance companies from surcharging policyholders who were uninsured prior to buying the policy. In California, an insurer must price insurance for a good driver the same whether he or she had consistent insurance coverage in the past or had a lapse at some point for any reason, all else being equal. That rule, enacted by the voters as a part of Proposition 103 in 1988, is under attack through an initiative sponsored by Mercury Insurance. Mercury’s proposed measure, which is awaiting a Title and Summary from the Attorney General, would allow insurers to reinstate the old practice of basing auto insurance rates on whether or not a driver had been previously insured.

Consumer Watchdog is a nonpartisan, nonprofit organization and is on the web at http://www.ConsumerWatchdog.org.

SOURCE Consumer Watchdog

PR Newswire — October 8, 2009

SEATTLE, Oct. 8 /PRNewswire/ — First Risk Management Services (FiRMS), the largest flood insurance provider in Hawaii and a subsidiary of First Insurance Company of Hawaii (FICOH), announced today that it has selected Torrent Technologies, Inc. (Torrent) to provide systems solutions and back office services to support its flood business. TorrentFlood is the newest platform on the market and offers the industry’s only 100 percent web-based and real-time flood processing solution designed specifically for the National Flood Insurance Program (NFIP).

“With the new direction we are looking to take our flood program, we searched for a solution that could both support our future initiatives in the NFIP as well as distinguish our flood solution from that of our competitors. We are excited to be moving our flood insurance solution to TorrentFlood, a platform that we believe will ensure we achieve our objectives for the FICOH flood insurance program,” said Steve Tabussi, VP-Customer Solutions at FICOH.

“Transitioning to Torrent’s platform gives us the tools to provide better service to our flood insurance customers.”

TorrentFlood sets a new standard in the flood insurance industry, employing the latest technology to offer an easy-to-use and NFIP-compliant solution for the handling and servicing of flood insurance policies in an industry with limited and antiquated options.

“We are honored to have FICOH join our growing family of client companies,” said Travis Pine, Torrent’s founder, CEO and Chairman. Pine, along with Theresa ‘TJ’

Johnston, founded Torrent in early 2005. “This is an excellent fit for us as our two companies share very similar philosophies and core values. We look forward to a long and successful partnership serving FICOH.” FICOH marks Torrent’s 20th client since launching TorrentFlood to market in early 2007 making Torrent the fastest growing Flood Vendor in the market today.

About First Insurance Company of Hawaii, Ltd.

First Insurance Company of Hawaii is the oldest and largest property and casualty insurer domiciled in Hawaii, with assets totaling more than $602 million and liabilities of $404 million as of March 31, 2009. First Insurance offers a broad array of personal, commercial, and specialty insurance lines.

Nearly a century old, First Insurance enjoys an “A” (Excellent) rating from A.M.

Best Co., whose ratings are widely recognized as a benchmark of an insurer’s financial strength. In 2009, First Insurance was also named to the Ward’s 50 list, which recognizes the top 50 property and casualty insurance companies in the nation. Proud of its broadly experienced, service-oriented staff, First Insurance employs more than 300 insurance professionals and distributes its products through 27 independent general agencies. It has claims personnel on Oahu, Kauai, and Maui, as well as in Hilo and Kona on the Island of Hawaii.

First Insurance is jointly owned by CNA Financial Corporation and Tokio Marine & Nichido Fire Insurance Company Ltd. Find more information at www.ficoh.com.

About Torrent Technologies, Inc.

Torrent Technologies is a business services company that leverages contemporary technology to more effectively administer flood insurance policies and claims through the National Flood Insurance Program. Torrent was founded in February

2005 and has offices in Seattle, Washington, Kalispell, Montana and New Carrollton, Maryland For more information, please visit http://www.torrentcorp.com.

SOURCE Torrent Technologies, Inc.

PR Newswire — October 8, 2009

    Immediate State and Federal Investigation necessary to protect homeowners

    who are the ultimate victims of this drywall catastrophe

FORT LAUDERDALE, FL, Oct. 8 /PRNewswire/ - Since the discovery that toxic Chinese drywall has devastated homes in Florida, attorney Mike Ryan, from Krupnick Campbell Malone, has worked tirelessly to help find relief for homeowners. Now, some homeowners impacted by defective drywall who made insurance claims against their homeowners’ insurance policies are being told by their insurance companies that their policies will be dropped or not renewed.

Ryan, a partner at Krupnick Campbell Malone Buser Slama Hancock Liberman & McKee, announced “As if this situation is not bad enough for these homeowners who cannot live in their homes and who are working desperately save their biggest investment, now some homeowners’ insurance companies who have denied coverage for the drywall catastrophe have the audacity to abandon homeowners after years of taking their money.”

According to Ryan, “Today, we are calling on State and Federal officials to investigate these insurance companies and their conduct. We are also demanding immediate legislative reform to bring Florida in line with the majority of states where there may be coverage for homeowners under these circumstances and to begin taking back our state from the insurance companies.”

Ryan has traveled to Tallahassee and Washington D.C. to meet with elected officials, demanding response to the needs of homeowners. Ryan represents over 250 homeowners individually throughout the State of Florida. Ryan explained, “We will go to Tallahassee and Washington, D.C. to find a solution because the shelf life on patience and hope for these homeowners is running out.”

“This is a silent hurricane, with a path of destruction throughout Florida and the country,” said Ryan. “But, it is worse than a hurricane in some sense because not only are insurance companies denying they will pay for the damage, now they are threatening to abandon Florida families during Hurricane season. We need our political leaders and business partners to understand how critical this situation is and to take action.”

The Chinese drywall has been reported to emit sulfur gases when exposed to moisture. It is believed to be the cause of failing electrical wiring and AC systems, increasing reports of foul odors, and numerous alleged health issues.

The drywall was imported from China and installed during the building boom of

2004 to 2007.

CONTACT: Michelle Friedman of Boardroom Communications at (954) 370-8999, (561) 706-4585, mfriedman@boardroompr.com

SOURCE Krupnick, Campbell, Malone, Buser, Slama, Hancock, Liberman & McKee