Car Insurance Premiums Increase By 40%

Car insurance premiums have risen by a record 40% in the year to fraud and personal injury claims would continue to cover the cost of the research showed today.

The average price of a comprehensive policy, based on the three most competitive quotes, was 892 pounds at the end of March was 40.1% over the previous year and the largest annual increase recorded by the AA, the index since its inception in 1994.

Young drivers continue to pay the price increases, the cost of coverage for drivers aged between 17 and 22 jump 64% to an average £ 2,431, rising to £ 3052 for young men.

The biggest trip was to cover third party fire and theft policies, often characterized by young drivers who can not afford full coverage, with premiums rising by 82.1% to £ 1,533 that companies insurance continue to leave the area and thereby reduce competition.

AA said the main factors pushing up the cost of auto insurance continues at high levels of fraud and costly, because of injuries.

The group said although the number of accidents on British roads are falling, the number of claims for whiplash injuries continued to increase, with more than 200 applications a day, often for accidents to Three years ago, in the absence of any mention of injuries were made at the time.

But he added that the recent proposals by the Lord Chancellor Kenneth Clarke to reduce the costs associated with "no-win-no fee" claims should help improve the situation if they become law.

Simon Douglas director of AA Insurance, said: "The record increase in fuel costs and speed up car insurance premiums is a disappointing news and will make driving too expensive for many people, especially cash-strapped young drivers.

"Despite the sharp increase in premiums, insurers are still losses if the large underwriting loss in 2009 is probably now been halved."

He added that although insurance premiums for motor vehicles rose by 5.9% in the first three months of 2011, during which usually cover the cost of a static, add the rest of the year was likely to be smaller and excursions price for the entire 2011 was probably greater than 20%.

But the Association of British Insurers has warned that if nothing is done to reduce the cost of injury claims, auto insurance premiums continue to rise.

Nick Starling, ABI director of general insurance and health, said: "the projects recently announced by the government to reform the civil case go a long way to reduce unnecessary and disproportionate legal costs and must carry auto insurance cheaper in the future.

"Now we have to deny the charges - if all the information about personal injury lawyers of the claimants' continue to be sold and the management company claims."

The cost of home insurance to record levels in March, as increased insurance premiums for the following winter high in the claims.

The average cost of coverage of buildings increased by 13.6% over the year to the end of March to 147.29 pounds, while premiums increased 11.9% content of 76.39 pounds.

Douglas said: "As the industry's concern for the increasing frequency and severity of extreme weather events we will see premium increases are fairly modest."

Sales Of Life Insurance Gathering

Robust economic growth and an increase in the immigrant population in Singapore last year gave a boost to the industry of life insurance, which posted an increase of 16 per cent year on year the number of total sales for 2010.

The Life Insurance Association (LIA) said that insurance companies pulled in nearly $ S 1.7 billion in new sales, up from S $ 1,430,000,000 in 2009.

Last year, the annual premium sales rose 20 percent on year to S $ 1.1 billion, while single premium sales increased nine percent to S $ 562.1 million .

Health insurance sales rose seven percent to $ 156 million S. A total of 2.35 million lives are now covered by health insurance.

Financial advisors also reporting healthy sales.

For some, revenue rose 15 percent in the last two quarters.

Alliance Financial Advisors director Raymond Ng said the investment products linked single premium and investment have increased dramatically.

Market players said the health insurance sales have increased due to increased medical costs.

MediShield Basic premiums rose 10 percent to S $ 33 in the last two years.

LIA these prospective new insurers may slow this year.

Life Insurance Association president Tan Hak Leh, said: "We expect the underlying demand for our insurance products to remain strong, especially the request for protection, protection of life insurance and health protection against disability and long-term savings to increase.

'E', however, the strong growth we achieved in 2010, we expect growth in 2011 to be lower. "

But the insurance industry could see new challenges ahead.

The sources said that the roof can be 15 staff under a Director of an agency, which can be implemented as early as next month.

Introduced in 2001, LIA has recommended that agencies had to work more effectively with 15 agents under one agency director.

Some agency leaders said that the rule limiting the profits. And the answer, said the LIA are currently reviewing the Agency's guidelines for the management and updating, if necessary.

Neb. State Auditor Slams Health Insurance Plan

Recently published review of public health insurance plan in Nebraska state troopers and other police officers to see the program is a "fiscal disaster" that has been dissipated and the lack of control, the state auditor Mike Foley said on Tuesday.

The 10-month audit was conducted in the health plan administered by the State Law Enforcement Council negotiations, which says it represents about 500 employees from the application of Nebraska law. Foley said he was motivated by "extremely high" cost of health care in the state of Nebraska, compared with other states.

Foley report details the extensive bad, including the use of $ 1,200,000 of public funds to pay health costs for workers 'buying land and constructing a building, the soldiers of the' Association of the State of Nebraska.

About $ 57,000 of the money went to buy furniture, artwork, flat screen televisions and other items for the construction, the report said. Foley said the auditors could find little or no documentation of an additional $ 60 billion has been spent.

The report shows that since 2002, SLEBC received approximately $ 5,000,000 a year, state funding and contributions of employees, even though it has never been certified bargaining units, and has never authorized, or the use of funds public.

"There was so much public money is spent so quickly with so little control, or documentation, it is difficult to know who bought what has accepted all this, where everyone is a commodity," Foley said at a news conference. "It's just been an absolute train wreck period, and a terrible embarrassment for the State of Nebraska."

SLEBC members include troops Nebraska, and some law enforcement agencies of the State Fire Marshal's Office and the Nebraska game and Parks Commission. SLEBC a representative was not immediately respond to a telephone message seeking comment.

Foley said the audit found mismanagement, which began when SLEBC successfully negotiated the ability to launch its own health insurance plan separate from the state in 2002. state money sent to the group's bank account every month without supervision, "he said.

Someone in state government "has given them access to state funds, so that funds are spent on the books of state, overseeing the auditor's office for the supervision of the office of treasurer, and so on," Foley said. "The money was simply sent each month to the bargaining unit to manage their own health system."

Foley said that nobody in the government of Nebraska, has accepted responsibility for that decision.

SLEBC said set their premiums higher than necessary to generate extra cash and $ 1.2 million to build the brick building with a floor of offices at Lincoln, opposite the Lancaster County jail.

construction of 7,200 square meters was obviously designed for income from rent, Foley said. But in the last year and a half, he said, he sat mostly empty, and only had about $ 300. The building continues to sell "fire sale price" of $ 850,000, he said.

Foley said the leaders SLEBC apparently wanted to use the money to finance its operations, but are not allowed to invest in real estate. He said the State, therefore, has lost hundreds of thousands of dollars.

"I went away on its own, without consulting anyone, and has just done this," said Foley. "Apparently, it was a terrible investment."

Foley declined to say whether the audit could lead to criminal charges, but said he expected a legal battle involving the State.

The audit also found $ 1,800,000 medical claims paid during the year, no specific explanation of services. About 1.1 million U.S. dollars in credits marked "various hospital," said Foley. Other claims are able to pay for services that would be for private insurers, or patients who would otherwise have been entitled.

Foley said some of his efforts to control information on civil servants obstruction. He said the governor's office denied him the medical records, in some cases, the argument that their release would violate the privacy of a doctor.