Latest Car Insurance Headlines

Man Charged With Selling License Plates to Illegal Immigrants
Wednesday, April 30, 2008
A Guatemalan national made it easy for illegal immigrants on the Eastern Shore to drive, according to the FBI. The FBI arrested Felipe Jesus Mazariegos-Perez at his home Tuesday on federal charges of buying hundreds of Tennessee and Mississippi license plates and car titles and selling them to immigrants who cannot prove their residency, as Virginia requires.The FBI raided Mazariegos-Perez's home in Nelsonia, Accomack County, on Tuesday morning, looking for the out-of-state plates and titles....

/C O R R E C T I O N -- CNinsure Inc./
Wednesday, April 30, 2008
In the press release entitled, CNinsure Establishing Joint Venture with Car Dealer to Further Penetrate Auto Insurance Distribution Channel, issued earlier today by CNinsure Inc. through Xinhua PR Newswire, we are advised by the company that the second paragraph, first sentence should read "second quarter" and not "first quarter" as originally issued inadvertently. The full sentence should read, "The transactions are expected to close in the second quarter of 2008 subject to certain consents, authorizations and other customary closing conditions." CNinsure Inc...

Business in Brief
Wednesday, April 30, 2008
Man charged with car insurance fraudBOSTON - Former Boston resident Tu Quy Mai was charged in federal court on Wednesday with 54 counts of mail fraud in connection with an alleged scam to defraud auto insurance companies out of an unknown amount of money between 2000 and 2006. Boston Stock CEO Curran to advise Cramer company...

Insure.Com, Inc. Reports First Quarter 2008 Financial Results
Wednesday, April 30, 2008
Insure.com reported revenues of $4.0 million for the first quarter of 2008, a decrease of 5.6 percent from revenues of $4.2 million for the same quarter of 2007. Net loss for the quarter was $512,000, or $0.07 per share, compared to a loss of $882,000, or $0.12 per share, for the first quarter of 2007.These agencies will receive leads from us and provide local life insurance brokerage services to those Insure.com shoppers who may wish to buy insurance locally....

Admiral Signals It is on Track to Hit City Targets
Wednesday, April 30, 2008
CAR insurer Admiral has reassured investors it is on track to at least meet market estimates for 2008, though it saw little movement in UK insurance rates in the first quarter of the year. According to analysts, the group is expected to post a 6.5 per cent increase in 2008 pre-tax profit, coming in just shy of GBP 194 million. The insurer, which warned of continued tough conditions in the UK motor market last month, said first-quarter turnover increased 14 per cent year-on-year to GBP 232m, while turnover at its price comparison site Confused.com rose 15 per cent, in line with analyst expectations....

Drivers Could Save If Insurance Limits Lowered: Bill Would Change Mich. No-Fault Law
Wednesday, April 30, 2008
Apr. 29--LANSING -- A new, bipartisan -- and in several ways unlikely -- coalition wants to change Michigan's no-fault insurance law to allow drivers to buy less medical coverage and save lots of money. Lawmakers from Macomb County and Detroit, who are often at odds, and organizations as diverse as the Michigan Chamber of Commerce and Detroit Urban League have joined to lead the coalition. Their push is certain to rekindle debate over how to reduce auto insurance rates, especially in Detroit, where estimates suggest half of motorists drive illegally without insurance because of its high cost....

Doer Government Grilled on Crown Donations to Canadian Museum for Human Rights
Tuesday, April 29, 2008
WINNIPEG - Manitoba's official Opposition says the government was "sneaky and underhanded" when it suggested to its Crown corporations that they should donate to the Canadian Museum for Human Rights.Manitoba Public Insurance, the province's monopoly auto insurer, and the Manitoba Liquor Control Commission, have both donated $1 million for the construction of the museum, which is to be Canada's first national museum outside Ottawa.Tory Leader Hugh McFadyen says the New Democrats basically directed the Crown agencies to put money into the project....

Infinity Celebrates Cinco De Mayo in a BIG Way
Tuesday, April 29, 2008
LOS ANGELES, April 28 /PRNewswire-FirstCall/ -- Infinity Plus (http://www.infinityplus.com/) announces the Grand Opening of its latest store located in Santa Ana at 316 E. 4th St. A ribbon cutting ceremony is scheduled from 2pm to 4pm on Saturday, May 3rd. The event will be attended by local dignitaries and is open to the public. Cozmo from the L.A. Galaxy and Snoopy from MetLife will be on hand courtesy of Infinity Insurance (http://www.infinityauto.com/)....

The Bacs System is Out in Front After 40 Years
Tuesday, April 29, 2008
The UK's automated payments system Bacs has handled more than 68 billion transactions since it was first launched 40 years ago.More than 5.5 billion payments were made through the Bacs system during the past year - an average of 90 for every person in the UK, the group said.Three-quarters of adults now have at least one direct debit set up on their account, while 90 per cent of workers are paid through the Bacs direct credit system....

$62 Billion Savings on Auto Insurance in California Since Voters Approved Insurance Reform Proposition 103 Twenty Years Ago, According to National Study
Tuesday, April 29, 2008
SANTA MONICA, Calif., April 24 /PRNewswire-USNewswire/ -- California has the best automobile insurance regulation in the nation, with the slowest-growing premiums and one of the most competitive markets in the country, according to a state-by-state study the Consumer Federation of America released in Washington, DC today. In 1988, California voters approved Proposition 103, which enacted the nations toughest insurance reform.Ironically, Allstate is in a San Francisco Superior Court today asking a judge to block a 15.9% rate cut for its auto insurance customers that was ordered by Insurance Commissioner Steve Poizner last month....

Driver Banned
Tuesday, April 29, 2008
A MAN failed in his bid to persuade magistrates to let him keep his driving licence. Wayne Thompson, of Easington Avenue, Gateshead, pleaded guilty to driving his girlfriend's car without insurance cover in February. The 20-year-old already has six penalty points on his licence for driving without insurance in November 2006 and was due to be banned....

Bipartisan Plan to Save Drivers Money on Auto Insurance Unveiled
Tuesday, April 29, 2008
DETROIT, April 28 /PRNewswire/ -- A bipartisan coalition of lawmakers from the federal, state and local levels joined community, business and law enforcement leaders at the Detroit Urban League this morning in announcing a statewide legislative and grassroots effort to reduce the mandated cost of auto insurance in Michigan."The State of Michigan requires drivers to purchase expensive and rarely used insurance coverage that puts the cost of auto policies out of reach for many drivers struggling in Michigan's economy," State Senator Alan Sanborn, R-Richmond, sponsor of the legislation, said. Chairman of the House Insurance Committee, Rep. Virgil Smith, D-Detroit, added: "For too long, many drivers, especially in urban areas, have had to choose between buying insurance and going without in order to afford other things they need for their families....

Progressive Recommends Rejection of Below-Market ``Mini-Tender Offer''
Tuesday, April 29, 2008
The Progressive Corporation (NYSE: PGR) today said it has become aware of a "mini-tender offer" by TRC Capital Corporation (TRC) to purchase up to 5 million shares of Progressive's common stock at a price of $16.60 per share. Progressive cautions its stockholders that TRC's unsolicited offering price of $16.60 per share was more than 4 percent below the $17.37 per share closing price of Progressive's stock on April 15, 2008, the day before the mini-tender offer was commenced, and approximately 11 percent below the $18.64 per share closing price of Progressive's stock on April 25, 2008.Progressive urges investors to obtain current market quotations for their Progressive shares, consult with their broker or financial advisor and exercise caution with respect to this offer....

AssuranceAmerica Corporation Announces First Policy in Indiana
Tuesday, April 29, 2008
ASSURANCEAMERICA CORPORATION (OTCBB: ASAM - News), an Atlanta based insurance holding company with operations primarily in the Southeastern United States, and expanding into select Southwestern and Midwestern states, announced today that AssuranceAmerica Insurance Company wrote its first auto insurance policy in the state of Indiana. While its insurance company or managing general agency (MGA) is licensed to conduct insurance business in fourteen states, Indiana becomes the ninth state in which AssuranceAmerica actively conducts business.In announcing its newly initiated sales effort in Indiana, Lawrence (Bud) Stumbaugh, President and CEO, said "Indiana is attractive because it is a top 20 auto insurance market and its demographics favor non standard auto insurance....

Defensive Driving Class Offered
Tuesday, April 29, 2008
A defensive driving class sponsored by AAA North Dakota is scheduled from 9:30 a.m. to 1:30 p.m. Saturday at the Best Western Doublewood Inn, 1400 E. Interchange Ave., Bismarck.The National Traffic Safety Institute class covers concepts necessary to stay safe and free from injury. Those attending the class, which is open to everyone, may be eligible for auto insurance discounts and reduced points on their driving record....

Interest in Royal's Insurance Arm Sale
Tuesday, April 29, 2008
PRIVATE equity bidders were yesterday lining up to compete with trade buyers to secure a slice of Royal Bank of Scotland's insurance arm as Aviva became the first insurer to rule out a bid.Royal Bank shares bounced some way back from a torrid week yesterday gaining 8.25p to close up 2.42per cent at 349p.Kohlberg Kravis Roberts and Apax Partners are thought to be putting together a consortium....