“U.S. auto insurance is generally an all-you-can-eat affair.” That’s according to rogue economists Steven Levitt and Stephen Dubner, authors of the popular book and blog “Freakonomics.”

In a recent article in New York Times Magazine, Dubner and Levitt make a compelling case for pay-as-you-go insurance pricing.

According to Levitt and Dubner, our current driving system (if you can call it that) has over $300 billion in unpaid costs (well, actually, they’re not unpaid. They’re simply not being paid by the people who are running up the tab). Here are the price tags associated with our current system:

~ Carbon emissions: $20 billion a year
~ Wasted fuel and lost productivity due to congestion: $78 billion a year
~ Auto crashes: $220 billion a year

Dubner and Levitt believe that the “externalities” (fancy word for negative results) linked with driving – CO2 emissions, crashes and congestion – could be curtailed with insurance coverage that rewards people who drive less and punishes (that’s a harsh word—penalizes) people who drive more.

To a certain extent, we already have pay-as-you-go pricing, but it's predicated on people self-reporting their annual mileage, “which has an obvious shortcoming,” say Levitt and Dubner. (In general, economists don’t trust anyone to do the right thing unless it’s in their economic interest to do so; maybe that’s why they call it the ‘dismal science.’) In the case of self-reporting of mileage, it’s pretty clear that the financial incentive is to under-report—and let's call that practice by it's true name: insurance fraud!

As things stand now, a person who drives only to the corner store on weekends pays about as much (give or take) in insurance premiums as the guy who burns up the highway every day. What’s unfair is that the latter driver contributes far more in terms of the evil Cs – carbon, congestion and crashes. Mad Max doesn’t care, though. Currently he doesn’t have to pay for his extravagant driving habits; he gives the tab (in the form of pollution and hospital bills and unlivable cities) to all of us.

Pay-as-you-go would give the tab back to Mad Max.

Posted by Jeb Foster at 02:40 PM | Permalink | Comments (0)
 

Back in September, Bloomberg Markets magazine ran a cover story entitled "The Insurance Hoax: Property insurers use secret tactics to cheat customers out of payments--as profits break records."

Needless to say, the insurance industry slammed the piece, calling it simplistic, reckless and inaccurate. And reckless. And inaccurate. They also expressed shock the that a business magazine would take such a critical, one-sided position.

As it happens, the people at the Deadline Club, a branch of the Society of Professional Journalists, have a different opinion. They think the article was pretty good—better than good, even. They’ve nominated the Bloomberg article for an award—the “Daniel Pearl Award for Investigative Reporting.”

Once again, the chorus from the industry is that the story is reckless, inaccurate and reckless, and that giving it an award—an award named after a truly heroic journalist—is a sham and an insult.

If you haven’t read it, here’s the offending Bloomberg article. Here’s the Insurance Information Institute’s rebuttal. Here’s the Deadline Club’s web site.

The InsureMe Agent Blog: We link, you decide.

Posted by Jeb Foster at 03:01 PM | Permalink | Comments (0)
 

Am I the only one who’s a little insulted by Allstate citing global warming as the reason for their rate hike proposal?

I mean, insurers have been pulling out of hurricane-prone counties and states since Hurricane Andrew. We know why: it’s risky to insure property on the coast. And even though I find it sort of ridiculous (hey, what are premiums for? And, also, what about those billion dollar profits?), it’s every private insurer’s right to write coverage where and how they see fit.

But raising premiums under the guise of global warming feels somehow patronizing.

I personally like Derek’s take. If Allstate is that concerned about global warming, if they’re so affected by it that they can’t afford to sell policies, why don’t they donate some of their profits to help clean up the earth?

What if Allstate, out of benevolence, and contemporary thinking, starts to invest some of their profit into Florida's Hurricane Grant project and helps all of the low income properties that are not financially capable of bringing their homes and buildings up to current hurricane mitigation standards? Then, when all of the extra globally warmed hurricanes hit the peninsula, maybe the tallied losses wouldn't be so catastrophic.

Obviously Allstate is not the only insurer proposing rate hikes and pulling business out of certain areas of the country. But doing so under the guise of global warming in an economy where people already feel like they’re being kicked while they’re down in out feels, in a word, shady.

[Related reading]:
Global Warming Ate My Insurance Policy
Allstate + Global Warming = Increase
Allstate Policy Cuts Get Scrutiny

Posted by Megan Mahan at 01:57 PM | Permalink | Comments (0)
 

Wall Street Journal reporter Joseph B. White sees a growing tension between the insurance industry’s desire to stem losses and the car industry’s desire to give their consumers ever more horsepower and performance.

Consider that a 1981 Honda Accord had a 75 horsepower engine. Today’s Accord packs 177 horses.

Not surprisingly, with faster cars has come more speeding, and with more speeding, more frequent—and heftier—insurance claims.

The Highway Loss Data Institute recently released the results of a study that compared the collision losses from a 140-horsepower Pontiac Grand Am to a 260-horsepower Nissan Altima. The losses for the Altima were 20 percent higher than for the Grand Am.

The unfortunate result of increasing horsepower has been higher insurance premiums for everyone (not to mention dangerous highways).

Is it time to reign in the muscle car?

Hat tip: Autopia

Posted by Jeb Foster at 03:19 PM | Permalink | Comments (0)
 

A U.S.-based insurer finally brought Norwich Union’s incremental insurance idea back across the pond.

This summer, MileMeter will launch their pay-as-you-go auto insurance policies, charging drivers for coverage based on how often, when and where they use their cars. Unlike its British predecessor, however, MileMeter won’t install any kind of tracking device inside the insured’s car.

Here’s how it works:

• Drivers will pre-pay for coverage, in increments of 1,000 miles
• The cost per mile is determined by the geographic area and the age of the driver
• When the odometer reaches the end of the pre-paid increment, the coverage expires

A reasonable estimate for a 30-year old driver with minimum coverage in an urban ZIP code would be about 4 cents a mile, figures MileMeter CEO Chris Gay. Multiple drivers can also be added to the policy.

Dallas-based MileMeter will roll out policies to the state of Texas this summer, and follow it up soon after with a broader U.S. expansion. In the meantime, it’s garnered some pretty impressive buzz:

[I]t was one of only seven finalists in the most recent Amazon Web Services Startup Challenge. Because it doesn't use gender as a basis for determining rates, MileMeter has been ardently supported by the National Organization for Women (NOW).

It also got a mention on Springwise, a global entrepreneurial blog (which is where I heard about it).

Rewarding people for not driving their cars (by slashing premiums by as much as 30%) could have a pretty favorable impact on the environment, as well as crowded highways and interstates. I can also see these policies appealing to city-bound folks who walk or take public transport more than they drive.

Would you consider adding pay-as-you-go auto insurance policies to your offerings? What potential risks or problems do you see with this kind of policy? Do those problems outweigh the convenience to drivers?

More MileMeter: The MileMeter Blog

Posted by Megan Mahan at 10:54 AM | Permalink | Comments (2)
 

Spared the wrath of Dean and Felix, the U.S. squeaked through another hurricane season without a major calamity. (Well, that's assuming no storms make landfall before Friday, the official last day of the season.)

But, as Claire Wilkinson of the III’s Terms and Conditions blog reminds us, while we can breathe a sigh of relief, there’s no cause for optimism. Hurricanes—including ones as devastating as Katrina and Rita—will be a routine part of the national drama for generations to come.

Continue reading "Hurricane Season Ends" »

Posted by Jeb Foster at 03:46 PM | Permalink | Comments (0)
 

Here’s a way to persuade an auto insurance prospect to also buy renter’s insurance:

According to the III, renters are 50 percent more likely to be burglarized than homeowners.

To the extent that renters think about insurance at all, it seems that many think their possessions are insured under their landlord’s policy. It’s your job to clear up that misconception!

A lot of agents turn up their noses to selling renter’s policies because the margins are small. That’s no doubt the case, but what if you could make up for that in volume?

What’s preventing you from selling more HO-4 policies?

Posted by Jeb Foster at 12:37 PM | Permalink | Comments (0)
 

We've loving Vern Fonk's insurance commercials this week. You might even say they're the hottest thing on the "InterMet."

Take a look at Vern Fonk's spots—and let it serve as a reminder that cheap advertising doesn't always equate to bad advertising.

Posted by Megan Mahan at 02:10 PM | Permalink | Comments (2)
 

Answer: If you have a certain homeowner’s policy with AIG and a wildfire threatens your home, you get your own private fire-fighting team:

In Idaho, when the Castle Rock wildfire started with a lightning strike, broke out and started to rapidly spread, hundreds of high-end homes were immediately evacuated. … [AIG] sent a private crew of firefighters to Wood River Valley, near Castle Rock, to protect 22 homes that it has insured for millions of dollars.

Posted by Jeb Foster at 03:10 PM | Permalink | Comments (0)
 

Are you as nervous as re-insurers about global climate change?

When the people who are paid to assess and manage risk start openly panicking about the perils of climate change, you know that the excrement isn’t far from hitting the air conditioning.

Reinsurers, the people who insure the insurance companies, are the folks who have the most on the line. And they’re starting to get nervous. "At Lloyds, we feel the effects of extreme weather more than most," Peter Levene, chairman of Lloyds of London, said in March. "We don't just live with risk -- we have to pick up the pieces afterwards." Lloyds predicts a hurricane will hit the US with twice the destructive price tag as Katrina and will thus bankrupt 40 insurers.

We’d do well to look at their anxiety as the canary in the coal mine. After all, reinsurers aren’t treehugging doomsday prophets.

Many have the vague feeling that maybe the weather is going to get flukier as the climate changes—and maybe even a little balmier. They think the climate, particularly something as innocuous as a 1 or 2 degree change in average temperature, doesn’t affect their lives. It reminds me of how people probably reacted to the stock market crash of 1929. “I don’t own stock, so what’s the big deal?”

The stakes really couldn’t be higher, particularly for you insurance agents. Take it from Lloyd: "The insurance industry must start actively adjusting in response to greenhouse gas trends if it is to survive."

If it is to survive. I hate to freak you out, Agent Blog reader, but we've got a pretty freaky situation on our hands.

Posted by Jeb Foster at 12:43 PM | Permalink | Comments (0)
 

Boy, I'm a sucker for innovation in this industry. That's because:

(1) It's tough not to reinvent the insurance wheel; and
(2) Not very many organizations put enough emphasis on it

Earlier this week, I learned about Safeco's new Teensurance program through Springwise.com, one of my favorite global entrepreneurial blogs, and it fits the innovative bill.

If you're assuming at this point that Teensurance is auto insurance for teens, you'd be right. But Teensurance goes above and beyond the normal auto insurance policy, using:

• GPS technology to keep an eye on youngsters and encourage safe driving
• The "Safety Beacon" that unlocks doors, provides curfew and speed limit reminders, and more
• 24/7 roadside assistance
• Resources for parents and teens

The features and benefits are numerous. I'm impressed. Check it out here and get inspired for new ideas for your agency.

Posted by Megan Mahan at 03:13 PM | Permalink | Comments (1)
 

James and I are back from HIGH TECC; we gave our presentation—Search Engine Marketing: How Insurance Agents Can Take Advantage—yesterday afternoon.

I also had the pleasure of spending some time with the presenters and conference-goers on Sunday during the welcome parties. If you've heard rumors about how warm and wonderful Steve Anderson and his team are, consider those rumors confirmed. I had a fabulous time talking with them and look forward to meeting up with them again in the future.

I hope to compile some additional thoughts about HIGH TECC this week, but for now, enjoy our slideshow from yesterday's presentation (located in three installments after the jump). We should get a copy of the audio as well, so we'll pass that a long as we get it.

Continue reading "Back from HIGH TECC! Check out our slideshow!" »

Posted by Megan Mahan at 01:45 PM | Permalink | Comments (4)
 

Consumer Reports’ web site has a cool feature wherein you can select a car make, model and year, and see video of its frontal offset crash- and side-impact crash tests.

With somewhat morbid curiosity, I watched footage of my own ride smashing into an offset barrier at 40 mph and getting t-boned by a SUV going 40 mph.

The good news was that the crash-test dummy fared rather well. My car got ‘good’ ratings (the highest) during both the frontal offset crash, which shows overall structural integrity, and the side impact crash, which shows how it fares when struck in the side by an SUV or pickup. (Thanks, Subaru, for making a safe car!)

Another takeaway: the Scion XB (that boxy mini-minivan) is the last car you’d want to be in during a side-impact crash.

Posted by Jeb Foster at 02:12 PM | Permalink | Comments (0)
 

AP: "For the second straight year, rude Miami drivers have earned the city the title of worst road rage in a survey released Tuesday."

Posted by Jeb Foster at 03:26 PM | Permalink | Comments (0)
 

I had a bit of déja vu after hearing about the hurricane predictions from 2007. The consensus: we'll have a "very active" hurricane season. But unlike last year's predictions, this year's have some teeth by way of figures.

The atmospheric science experts at Colorado State said there's now a 74 percent probability that at least one minor hurricane will make landfall along the U.S. coast.

Furthermore, the CSU team said we're likely to see:

• 9 hurricanes
• 17 named storms
• 85 named storm days
• 40 hurricane days
• 5 intense hurricanes (category 3, 4 or 5)
• 11 intense hurricane days

According to this Insurance Journal report, El Nino is once again the basis for annual hurricane predictions. The above figures have increased since December, "due largely to the rapid dissipation of El Nino which as occurred over the past couple of months."

Check out the IJ article here, and be sure to scroll down to read the comments. After last year's uneventful storm season, it would appear that some folks are pretty skeptical of said scientists. I've got some doubts of my own. I mean, we can't even get a decent weekly weather forecast in Denver. :)

Posted by Megan Mahan at 01:49 PM | Permalink | Comments (0)
 

Industry changes have only just begun, according to Allstate Chairman Edward M. Liddy. Liddy, who spoke at a recent AM Best conference in California, identified some key changes that will drive industry going forward.

Of these key changes, I was most struck by the following:

• The continued move toward "tiered pricing," which would give insurers the ability to differentiate between their best and worst risks, and price them accordingly.
• A larger emphasis on marketing and advertising. Branding and communications can help give insurers the edge when they can't compete on price alone.
• Servicing aging Americans. "This places a premium on the trusted advisor role," said Liddy.
• Providing greater consumer choice by increasing the flexibility of insurance policies.
• Using technology to enable distribution and compete locally.

Judging by the overview, Allstate's getting the idea. I'm curious to see if competing insurers will act nimbly enough to do just that—compete.

Check out the full story courtesy of A.M. Best or Insurance News Net (article access is subscription-based; apologies!)

(Photo from Flickr under Creative Commons)

Posted by Megan Mahan at 03:55 PM | Permalink | Comments (0)
 

That's a crazy headline, no?

I spotted this story on Digg.com this morning, which notes that the Thames Valley (UK) police have programmed Homer Simpson's infamous "D'oh!" into their on-board computers. Homer will sound off upon spotting an uninsured driver.

The automatic plate readers also say, "Here's Johnny!" (à la Jack Nicholson from The Shining) when turning up a stolen car, and Dan Aykroyd's famous, “People like this are a menace to decent society," when spotting a car linked to a crime.

Cops say the catch phrases quicken their reaction time.

I'm not totally sure about that, but I'm a fan of anything that makes the work day more interesting. :)

Posted by Megan Mahan at 10:41 AM | Permalink | Comments (0)
 

Yesterday, Springwise picked up on recent Dutch findings which reported that drivers using GPS systems has a positive effect on road safety.

Part of the research focused on data collected on 115,197 drivers of lease cars. Those without PNDs [personal navigation devices] had a 12% higher rate of damage incidents, and damage costs were on average 5% higher.

Additionally, research showed that drivers using GPS systems were more relaxed behind the wheel, were less distracted, ignored fewer traffic signs and felt more in control.

Dutch Insurer Delta Lloyd is paying attention to these findings, rewarding policyholders with TomTom brand GPS systems a 10 percent discount on their auto insurance.

I continue to be encouraged by European insurers who offer such innovative incentives to their policyholders. Is it only a matter of time before U.S. insurers follow suit?

[Related post]:
Ecoinsurance: Two Thumbs Up

Posted by Megan Mahan at 11:20 AM | Permalink | Comments (2)
 

State Farm won't write any new lines of home and commercial insurance in Mississippi, following a the legal battle over damage claims from Hurricane Katrina in 2005.

As you may recall, the claims stemmed the controversy over decimated homes that were insured against wind, but not flood.

State Farm Senior VP, Brice Trippel, issued a statement this afternoon saying, "It is no longer prudent for us to take on additional risk in a legal and business environment that is becoming more unpredictable."

According to a Reuters report (made available by CNN Money here), State Farm currently insures more than 30 percent of Mississippi homeowners. The insurer will continue to serve current policyholders and write new auto business but will leave the possibility of nonrenewals open if the situation worsens.

The situation for State Farm has a lot to do with legal fees, of course. "Hurricanes can be insured against, but litigation can't," noted Robert Hartwig who is the head of the Insurance Information Institute. "Those costs are extremely high."

State Farm joins their major competitor, Allstate, along with Nationwide Financial Services and American International Group in cutting back on writing new policies in coastal areas.

Pretty crazy stuff. With the socioeconomic infrastructure seeming to crumble along the coast, it makes you wonder how much longer folks will be able to sustain livelihood down there.

Check out the full story via CNN Money

Photo from Flickr under Creative Commons license

Posted by Megan Mahan at 02:05 PM | Permalink | Comments (7)
 

In what's probably the most obvious headline ever written, today the Insurance Journal posted an AP story titled "Many La. Residents Reluctant to Rebuild on Coast."

The article details a recent Associated Press analysis which found that tens of thousands of Louisiana homeowners have decided not to rebuild on their old stomping ground. In the 31 coastal zip codes affected the 2005 hurricanes, as many as two out of three homeowners said they won't rebuild.

Some residents call the reluctance a "knee-jerk reaction" to "a little water." Gun-shyness be darned—between the increased hurricane risk and home insurance rates, I don't know that I'd be rushing back to rebuild either.

Despite the fairly obvious title, the article is an interesting read. Check it out here.

In other home insurance news, there's a great recount of this Orlando Sentinel piece over at the Insurance Coverage Law blog.

The article discusses the growing home insurance problems in Florida, noting that out of the top ten most expensive disasters in U.S. history, the state has seen six of them (in 2004 and 2005). Then there's the growing school of thought amidst residents who feel they're entitled to cheaper home insurance. Check out the full post here for more great commentary.

Any other home insurance happenings we should be talking about?

[UPDATE]: Florida gets hit again with catastrophic weather

Posted by Megan Mahan at 04:41 PM | Permalink | Comments (0)
 

Want to schmooze with industry stars like Maurice "Hank" Greenberg and Peter Levene of Lloyd's? Want to rub elbows with celebs like Dennis Miller and Bill O'Reilly? See what it's like to be a NASCAR driver? Learn why 2006 didn't live up to hurricane expectations?

The Insurance Journal has enhanced its event directory to keep you up to speed with all the industry events in 2007. And, by the looks of things, industry organizations are making sure attendees are good and entertained.

Read all about it here, and don't forget take a peek at the directory at www.insurancejournal.com/events.

Posted by Megan Mahan at 02:07 PM | Permalink | Comments (0)
 

In case you haven't yet heard, the Consumer Federation of America (CFA) (in conjunction with various national consumer organizations) released a new study yesterday, concluding that the P&C industry has dramatically increased their profits by jacking up premiums and lowering claim payouts. The report also states that the P&C industry has offloaded some costs to American taxpayers.

The findings, which were summarized by Insurance News Net, included these grimace-inducing bits from the study's author, J. Robert Hunter:

Profits and a solid insurance industry are a good thing but unjustified profits and excessive capitalization harm consumers. [...] Unfortunately, a major reason why insurers have reported record high profits and low losses in recent years is that they have been methodically overcharging consumers, cutting back on coverage, underpaying claims, and getting taxpayers to pick up some of the tab for higher risks.

Continue reading "High Industry Profits: Good or Bad for Consumers?" »

Posted by Megan Mahan at 03:48 PM | Permalink | Comments (0)
 

Happy Monday, y'all. I hope a phenomenal weekend was had by all and that you have, by now, watched the first Agent Blog Wrap-Up featuring Aurora Borealis. The fan mail is already streaming in. I have a feeling Aurora Borealis is going to take off from here.

Once you've watched the video, don't forget to leave a comment on last Wednesday's post. You could $100. So far no one's posted anything, making your chances of winning...well, pretty awesome.

I've spent most of this afternoon reading up on insurance news and various hot topics through my favorite sales and marketing blogs. A couple things piqued my interest but not enough to send me into a 700-word diatribe. So without further ado, here are today's links:

Not Much Employer Backing for HSAs [The Health Care Blog]
Sidecars (relating to reinsurance) [Specialty Insurance Blog]
Minn. Boy Sues Parents Over Injuries Sustained in Accident [Insurance Journal] Make sure to check out David Rossmiller's stellar commentary of this story here.

Posted by Megan Mahan at 03:23 PM | Permalink | Comments (0)
 

I seek wise counsel. And I figured this would be the best place to find it.

The issue in question deals specifically with home insurance and pipe/sewer damage that happens outside of the house. Recently, a friend of mine had sewer pipes burst outside of her house—they all became offset and had to be replaced. To the tune of $8,000. In this particular instance, the ruptured pipes didn't do any damage to the home, just shut off the water in the house until the pipes were replaced.

So my friend, who has sewer-back up protection, submitted a claim...which was denied. The adjuster told her that unless the pipes froze and did damage to the house, they couldn't cover it. My friend told her that tree roots damaged the pipes which were connected to the house, and the adjuster still said they couldn't cover it.

So here's the big question: Does anyone offer homeowner's protection from this peril? My friend's insurer said they did not offer any such coverage and I'm now wondering if homeowners are left vulnerable to this possible time bomb in their backyards. And when the cost to repair this kind of damage ranges from $4,000 to $8,000...that's a sizeable chunk of money that could easily set a family back a few pennies. And it seems to me that many homeowners purchase additional sewer back-up coverage to ward off these kinds of financial setbacks.

At any rate, I'd love it if you insurance gurus could leave me some pearls of wisdom on this matter via comments. Many thanks!

Posted by Megan Mahan at 02:44 PM | Permalink | Comments (0)
 

Industry analysts have taken a good long look at the insurance industry and have made predictions for challenges and opportunities in the New Year.

According to a recent article by Insurance News Net, "the battleground (or rather, the goldmine) for next year's insurance industry will most likely be the demographic of retiring Americans."

In accordance, analysts have pinpointed the following five opportunities to consider in 2007:

1. Tapping Middle Wealth: [...] "Producers and advisors will need to introduce new forms of advisory services and innovative income-generating protection products."
2. Continued Convergence and Consolidation: "Consolidation of stock and mutual companies will continue and will push smaller players out of the market..."
3. Capital Management: "Steady capital management adherence will be vital to business growth strategies."
4. Managing Risk: "Insurers will continue to improve their risk management frameworks, reporting, governance, and risk measurements."
5. Aggressive Compliance Monitoring: "Compliance issues will be strictly observed with better documentation of processes and controls."

As for challenges in 2007, experts suggest watching for the following:

1. Continued weakness in housing and mortgage markets
2. Additional litigation targeting title companies
3. Downward pricing pressure resulting from regulatory reviews

Check out the full article over at INN to take a look at 2007 highlights per market segment.

Posted by Megan Mahan at 03:31 PM | Permalink | Comments (0)
 

Very interesting report by the Insurance Institute for Highway Safety today (story available here via the Insurance Journal) which found driver deaths in minicars are higher than in any other vehicle—and more than double the death rates in midsize and large cars.

While the report findings are indeed interesting, I always enjoy reading the reader responses to IJ articles.

"Bulldogg" sure doesn't know what to believe anymore—whether minicars are the way to go or if SUVs should rule the road:

WAIT A MOMENT, I was told (by the all-knowing media) that it was the SUVs that were killing people? I was told that small cars were the way to go, they were good on gas, good for the environment and safer because they don't go as fast.

NOW, I'm more likely to die in a car crash in one of these "Environmentally safe" cars?

Who screwed up on this one and led the media astray?

In the most dramatic light, it almost seems as if people are going to have to choose between bigger, potentially safer vehicles for the personal welfare of loved ones...or safer (and more fuel economical) vehicles for the environment.

Definitely a thought-provoking article. Check it out here and post your thoughts via comments.

[photo of the Toyota Yaris courtesy of Jalopnik.com]

Posted by Megan Mahan at 04:12 PM | Permalink | Comments (0)
 

Not much going on by way of industry news today (or at least nothing that particularly moves me one way or another), but I did like this post by David Rossmiller at the Insurance Coverage Law Blog, who linked to a long but interesting story in the Kansas City Star about common complaints in auto, home and health lines of insurance.

I read the entire article this afternoon, and I agree with David that it's a well-rounded story. It could be considered a small PR nightmare for the insurers named in the article (especially with the headline, "Complaints burn insurance customers' trust"), but then I suppose that depends on the size of the KC Star readership...and the speed with which the named insurers move to resolve customer complaints.

Anyway, if you have a minute, check out the article here and give it a once-over. I think it's worth a look.

Posted by Megan Mahan at 04:40 PM | Permalink | Comments (0)
 

I'm running short on time this afternoon, but did notice the developing auto insurance news from California: the DMV has sent out more than 180,000 letters over the past two months warning uninsured drivers to provide proof of insurance—or else.

A motorist who is given a suspension warning has 30 days to buy insurance or show proof of coverage to avoid suspension. Ignoring the notice could lead to fines exceeding $1,000 and seizure of the vehicle if a motorist is cited for driving with the registration suspended.

Check out the full story via the Insurance Journal here.

Check out this week's insurance blog wrap up here.

Posted by Megan Mahan at 02:34 PM | Permalink | Comments (0)
 

Things have been a little nutty around here today, so I thought I'd highlight some informative (and fun) links for your viewing pleasure.

Marketing to Boomers [Advertising to Baby Boomers]

PCI Not Cool with Supreme Court Ruling* [Insurance Journal]
*My headline, not IJ's. :)

How to Get Referrals and Classic [Seth Godin's Blog]

Enjoying the Sale [Landing the Deal]

That last link from Landing the Deal is a goody. It reminds sales professionals to have fun while they're selling. It seems simple, but it always helps to be reminded that you're foremost in the people business rather than the insurance business.

And, in the spirit of having fun, don't forget to check out our latest Insurance Blog Wrap-Up. This week we had fun with a giant pair of underpants, as well as a spur-of-the-moment trip to Ohio.

Have a great weekend, everyone. We'll see you back here on Monday.

Posted by Megan Mahan at 03:46 PM | Permalink | Comments (1)