While there is a seemingly endless number of companies issuing auto insurance policies these days, there are really just two ways to buy car insurance: You can purchase a policy in-person through an agent — a licensed individual who sells policies on behalf of one or more insurance companies — or you can buy directly from an insurer via Web site or telephone.
- Best insurance srock – Tips for buying car insurance online – online purchases insurance, guides to buy online auto insurance ; Strategy for 2013 Given the cost and other advantages, it is best to buy insurance online. “Time is not a constraint in online purchases. Customers have logged in at 2 a.m. to buy term insurance, If you are buying through a broker, be on your guard against mis-selling, or worse, cheating and forgery. There was a disturbing rise in such cases in 2012.It seems like every time you turn on the television, you encounter a commercial that asks whether you’re paying too much for your car insurance. Chances are your insurer won’t be champing at the bit to tell you the answer, so the burden is on you to find out. But with an Internet connection and a little planning, you can do it on your lunch hour.Whether you’re shopping for your first policy or looking for a better rate, going online is a gateway to a world of auto insurance quotes and information about the companies that issue them. As you’ll see, low cost is just one factor to consider. Let’s take a look at five tips to keep in mind when you go online to buy car insurance.Searching Online Is Just One OptionBuying car insurance online still accounts for a relatively small portion of total auto insurance sales, but it’s increasing in popularity. According to a 2011 survey by the Internet marketing research company ComScore, just 20 percent of new auto insurance policies were purchased online, compared to 43 percent purchased from an agent. However, the number of online purchases represents an increase of 5 percent from just two years earlier, while the number of agent purchases represents a 6 percent decline. Additionally, a 2011 survey by J.D. Power and Associates showed that 54 percent of new auto insurance owners applied for a rate quote online, the first time this has happened for a majority of respondentsPrepare Before You SearchWhether you shop for car insurance online or go one of the other routes, make sure you come prepared with all of the information you need to get an accurate quote. Take stock of your car’s make, model, year, vehicle identification number (VIN), the zip code of where you park the car at night and any aftermarket safety or anti-theft accessories installed on the car. Get the license numbers of every driver to be insured under the policy, as well as the date when they were first licensed, and obtain a copy of your driving record. Get an updated credit score as well — your credit rating can affect your auto insurance premiums, since some insurers say those with poor credit scores are more likely to file claimsThere are a few steps you can take to get lower insurance premiums, as well. Tally up the number of miles you drove this year versus the previous year — a significant decrease in the mileage you drive might help you get a lower quote. Consider completing a defensive driving course online, insuring multiple vehicles (or your home) through the same insurance company or looking for a plan with a higher deductible. You might even want to eliminate certain types of insurance not required by law in your state; you could forego collision and comprehensive coverage on very old cars, for instanceShop AroundYou should take a look at your auto insurance policy every year to find out how much you’re paying in premiums and how much coverage you’re getting in return. The cost of the same policy can vary widely between companies based on factors like how much the company spends on advertising, commissions paid to the agent and the risk levels of the company’s pool of insured drivers.To start comparing quotes, try logging on to an auto insurance aggregator Web site like NetQuote.com, Insure.com or InsWeb.com, where visitors submit information about their car and driving history in exchange for an array of quotes from different insurance companies. Typically, many of the quotes come via follow-up e-mails and phone calls from insurance agents. You can also try searching Web sites for companies like Progressive and Geico, which sell insurance directly to consumers and provide quotes immediately.Before you submit any sensitive information through a Web site, look for a security policy to ensure that any communications are reasonably protected from third parties, and set your Web browser to notify you when you leave a secure connection.Visit Your State Insurance Department’s Web SiteAuto insurance is regulated on a state-by-state basis, and your state’s insurance department usually has a bunch of relevant information to your search in the consumer information section of its Web site. Search the National Association of Insurance Commissioners State Web Map to find a link to your state insurance departmentThe depth of information varies, but these Web sites often include profiles of the different insurance companies licensed within the state, sample price comparisons charged by competing agencies to cover common vehicles, and consumer guides to auto insurance. Many insurance departments also provide complaint indexes, which tally the number of consumer complaints upheld against a particular company versus the number of policies they have issued. This information can be valuable in determining which company to sign with.If you’re unsure if a prospective insurer is licensed within your state, ask an agent. If the company falsely claims to be licensed in your state, report them.Don’t Go By Price AloneJust because a company offers you a cheap quote doesn’t mean you should let it insure your vehicle. Take a close look at the terms of your policy to ensure it matches your last auto insurance policy, and that you’re getting an equivalent amount of coverage (or at least the minimum amount required by law in your state). Examine the terms of the agreement to make sure the company don’t require the use of cheaper aftermarket materials for repairs instead of the original factory parts, which can pose safety hazardsIn addition to the complaint indexes maintained by state organizations, you can refer to consumer satisfaction databases on Web sites like ConsumerReports.org and JDPower.com [source: Reed]. You should also make sure that your insurance company is financially stable before purchasing your policy. In addition to checking with your state insurance department, ratings organizations like A.M. Best and Standard and Poor’s are good resources to determine a company’s financial state. And look to your friends and family for recommendations, as well.
- Best Insurance stock – Travelers insurance earnings surpassing the Zacks Consensus : The Travelers Companies, Inc. (TRV – Analyst Report) reported earnings of 72 cents per share in the fourth quarter of 2012, surpassing the Zacks Consensus Estimate of 4 cents per share. However, results plunged 51% from $1.48 earned in the year-ago quarter. Operating income of $278 million dipped 54% the reported quarter.
The year-over-year downside was largely attributable to higher catastrophe losses mostly due to Hurricane Sandy. However, higher underlying underwriting margins and higher net favorable prior-year reserve development limited the downside to some extent.Cat loss in the quarter was $689 million or $1.78 per share. Including net realized investment gains of $26 million or 6 cents per share, the company reported net income of $304 million or 78 cents per share, comparing unfavorably with net income of $618 million or $1.51 a share. The year-ago quarter included net realized investment gains of $9 million.Operational UpdateNet written premiums during the quarter were $5.4 billion, up 2% year over year.Net investment income increased 5.7% year over year to $689 million during the quarter, largely attributable to better performance at non-fixed income portfolio, partly muted by reduction in fixed income returns.Travelers posted underwriting loss of $338 million, comparing unfavorably with profit of $187 million in the year-ago quarter. Combined ratio deteriorated 950 basis points year over year to 105.4% in the reported quarter. The deterioration was due to higher catastrophe losses, partially muted by higher underwriting margins and higher net favorable prior-year reserve development.Total revenue in the quarter under review was $6.5 billion, increasing 2% year over year, driven by the augmentation in premiums earned and net investment income. Revenues surpassed the Zacks Consensus Estimate of $6.3 billion.Full Year HighlightsOperating earnings of $6.21 per share outpaced the Zacks Consensus Estimate of $5.56 and year ago earnings of $3.28. The upside stemmed from a combination of lower catastrophe losses, higher underwriting margins and higher net favorable prior-year reserve developmentIncluding net realized investment gains of 9 cents, the company reported net income of $6.30 per share, surging from $3.36 a share earned in 2011.Total revenue increased 1% year over year to $25.7 billion. It also outperformed the Zacks Consensus Estimate of $25.2 billion.Underwriting gains of $296 million reversed the year-ago loss of $745 million. Combined ratio improved 800 basis points.Segment UpdateBusiness Insurance: Net written premium increased 6% year over year to $2.78 billion in the quarter, largely driven by increases in renewal rate change.The combined ratio deteriorated 770 basis points year over year to 103.5%, mainly due to higher catastrophe losses.Operating income slid 27% year over year to $326 million in the fourth quarter of 2012, primarily attributable to higher catastrophe losses.Financial, Professional & International Insurance: Net written premium in the quarter under review improved 2% year over year to $808 million, driven by a 6% increase in net written premiums in the International business.The combined ratio deteriorated 100 basis points year over year to 80.2% in fourth quarter 2012, attributable to higher catastrophe losses.Operating income descended 13.8% year over year to $131 million, attributable to higher catastrophe losses, partly offset by higher underlying underwriting marginsPersonal Insurance: Net written premium skidded 3% year over year to $1.79 billion, primarily due to lower new business volumes.The combined ratio deteriorated 1540 basis points year over year to 89.7% in the fourth quarter of 2012, largely driven by higher catastrophe losses.Operating loss of $114 million compared unfavorably with profit of $77 million in the year-ago quarter largely due to higher catastrophe loss. However, higher underlying underwriting margins and higher net favorable prior-year reserve development limited the downfall.Dividend and Share RepurchaseTravelers spent $400 million to buyback 5.4 million shares in the quarter, taking the tally to $1.45 billion spent to buyback 22.4 million shares in 2012. The company is still left with $2.159 billion remaining under its authorization.The company also paid $178 million in dividends. Additionally, the board approved a quarterly dividend of 46 cents, payable Mar 29, 2013, to the shareholders of record as of Mar 8, 2013.Our TakeTravelers continues with the trend of delivering positive earnings surprise.Though its exposure to cat loss weighs on the results, prudent underwriting practices and favorable prior-year reserve development managed to limit the adverse affect.High retention rate, pricing gains, positive renewal rate changes, and a strong capital position are among the other positives, which are likely to support Travelers perform better going forward.Travelers’ continuous share buyback strategy has a positive impact on earnings per share and also bolsters shareholder value.Further, Travelers recently increased its stake in J. Malucelli Participações em Seguros e Resseguros S.A., a market leader in the surety insurance business in Brazil. Further, it made some useful investments to augment its technology platform. It scores strongly with the rating agencies as well.source – Zacks.com
- Best Insurance stock – Total insurance claims from hurricane sandy 2012, insurance claims in 2012,; A leading insurance company says natural disasters cost the industry $65 billion last year and that Superstorm Sandy accounted for nearly two-fifths of the total. However, Munich Re AG said Thursday total insured losses from natural catastrophes were down from a record $119 billion in 2011, when devastating earthquakes in Japan and New Zealand cost the industry dear.The company said total economic costs in 2012 from natural disasters – including uninsured losses – amounted to $160 billion, compared with the previous year’s $400 billion. Sandy was blamed for at least 120 deaths when it battered eastern coastline areas at the end of October. New York, New Jersey and Connecticut were the hardest-hit states. Munich Re estimated insured losses from Sandy at $25 billion and total losses at $50 billion.Here is the number of insurance claims released by various insurance companies sand storm due 2012, which we took from various reputable news sitesInsured Losses From Hurricane Sandy $7-$15 Billion: AIR WorldwideCatastrophe modeling firm AIR Worldwide estimated Tuesday evening that insured losses from Hurricane Sandy to onshore properties in the U.S. would be in the range of $7 billion to $15 billion. AIR’s insured loss estimate includes wind and storm surge damage to onshore residential, commercial and industrial properties and their contents, automobiles, and time element coverage (additional living expenses for residential properties and business interruption for commercial properties). Read More..AXA Art InsuranceLosses from Hurricane Sandy May Reach $500 MillionTwo months after Hurricane Sandy caused severe flooding in many Chelsea galleries, the bill for the art world’s recovery is shaping up to be hefty. By mid-November, AXA Art Insurance, one of the largest art insurers, estimated that it would be paying out $40 million, and a Reuters report last week quoted industry estimates suggesting that insurance losses for flooded galleries and ruined art may come to as much as $500 million – or the rough equivalent of what the art insurance business takes in each year. That would amount to the largest loss the art world and its insurers have ever sustained.Read More..Swiss Re Sees $900 Million Insured Hurricane Sandy Losses
Swiss Re Ltd. (SREN), the world’s second- biggest reinsurer, said it estimates its claims burden from Hurricane Sandy to be about $900 million. Total market losses could be as much as $25 billion, Swiss Re dropped as much as 0.8 percent in Zurich. It fell 0.6 percent to 66.30 francs at 9:31 a.m., valuing the company at 24.6 billion Swiss francs ($26.5 billion). Munich Re, the world’s biggest reinsurer, declined 0.2 percent to 129.6 euros. Hannover Re (HNR1) lost 0.3 percent to 56.98 euros. Read more..Selective Insurance Group Announces Hurricane Sandy Storm Losses
Insurance Group, Inc. (SIGI) today announced a preliminary pre-tax gross Hurricane Sandy loss of between $100 to $120 million and a pre-tax net loss of approximately $52 million, including reinstatement premiums and reinsurance recoveries. About two-thirds of the claims are in personal lines with the remaining in commercial lines. One area of uncertainty remains business interruption claims, which are included in the estimates but are still developing as some businesses are not back to full operation.
Selective is the sixth largest writer for the National Flood Insurance Program and expects record claim activity this quarter that will generate estimated, pre-tax, claim service revenue of $12 million, which will partially offset the $52 million loss. Together, these items will impact the fourth quarter statutory combined ratio by approximately 10 points and add an anticipated 2 points to our previous 2012 full-year guidance for the statutory and GAAP combined ratios. Read More..AIR increases hurricane Sandy insured loss estimate by over 70%
Risk modeller AIR Worldwide has published an update to their estimate of insured losses resulting from hurricane Sandy today and the numbers have jumped considerably. AIR’s first estimate was published on the 30th October and in that update they gave a range of $7 billion to $15 billion of losses but said they expected it to rise. In today’s update AIR have given a tighter, but much higher estimated range of between $16 billion and $22 billion of losses to the insurance industry from Sandy. That’s a pretty significant jump, with the low-end estimate increasing by 128% from $7B-$16B, the mid-point estimate increasing by 72% from $11B-$19B and the high-end estimate increasing by 46% from $15B to $22B. AIR puts the increase down to the following: Read More..Hurricane Sandy claims may exceed insurance program funds: FEMA
The federal government’s flood insurance program may not have access to enough funds to cover anticipated claims from Hurricane Sandy victims, a top official at the Federal Emergency Management Agency said on Thursday. Edward Connor, FEMA’s deputy associate administrator for federal insurance, told an insurance advisory panel on Thursday that his agency is projecting a flurry of flood-related claims in the neighborhood of $6 billion to $12 billion. read more..to complete the total data sandy storm damage insurance claims in 2012, we are in need of data on the number of insurance claims from your insurance company, please post in the comments belowinsurance claims Superstorm Sandy 2012, insurance program , impact insurance industry from Sandy 2012, estimate insurance claims hurricane sandy 2012, estimated insured losses from Sandy 2012, effect hurricane sandy 2012 on insurance industry
- best insurance stock Allstate corp will conference call february 7 2013 : The Allstate Corp. will conduct a conference call and webcast at 9 a.m. Eastern Time (ET) on Thursday, Feb. 7 to discuss fourth quarter 2012 earnings. According to a release, the company will issue a news release announcing quarterly results at or after 4:05 p.m. ET on Wednesday, Feb. 6. Shortly thereafter, the company plans to post supplementary financial and statistical information online. These materials will be available on Allstate’s website at allstateinvestors.com.The investor webcast also can be accessed at allstateinvestors.com. For those unable to participate in the live event, a webcast replay and downloadable MP3 file will be posted on the company’s website shortly after the event ends. The company’s 2012 Annual Report on Form 10-K will be filed by its due date of March 1. The Allstate Corp. is a personal lines insurer. read Allstate Stock outlook 2013-2014
- This page sets out the value that actuaries can bring to general insurance.General insurance actuaries help provide expertise in three main areas:
General insurance or non-life insurance policies, including motor and household policies, provide payments depending on the loss from a particular financial event. General insurance typically comprises any insurance that is not determined to be life insurance. It is called property and casualty insurance in the U.S. and non-life insurance in Continental Europe.In the UK, General insurance is broadly divided into two areas, personal lines and commercial lines.Commercial lines products are usually designed for relatively large legal entities. These would include workers’ comp (employers liability), public liability, product liability, commercial fleet and other general insurance products sold in a relatively standard fashion to many organisations. There are many companies that supply comprehensive commercial insurance packages for a wide range of different industries, including shops, restaurants and hotels.Personal lines products are designed to be sold in large quantities. This would include motor insurance, household insurance, pet insurance, creditor insurance and others.The London Market provides a focus for many insurance companies and syndicates operating under a Lloyd’s of Londonbanner to write large commercial risks such as supermarkets, football players and other very specific risks. It consists of a number of insurers, reinsurers, [P&I Clubs], brokers and other companies that are typically physically located in the City of London. Business is typically written through specialist brokers. The London Market also participates in personal lines and commercial lines, domestic and foreign, and provides reinsurance.The statistics on the changing profile of our membership tell us that around 30% of our general insurance members live and work outside the UK. As a result, the General Insurance Practice Executive Committee (PEC) is continually looking at what it can do to support our non UK members.
- Reserving (in reserving they apply statistical techniques to assess the likely outcome of general insurance liabilities, typically, and the provisions that are needed for reporting purposes)
- Rating (the pricing actuary assesses the frequency and average amount of claims to estimate premiums)
- Capital modelling (for capital modelling the actuary projects both the liability and assets of insurers to assess solvency and future capital needs).
- Insurance Awareness levels of Indonesian society : Despite the relatively high economic growth rate, which according to predictions of 6.5 percent in 2013, however, the public interest to invest through insurance, it is very minimal. lack of investment from the public is more due to the tendency of people do not understand insurance.Indonesian society tends to think that insurance just throw money, if there is no claim, fact, the need for insurance for the community is important, particularly when income per capita increases.According to IMF data as of October 2010, the GDP per capita of Indonesia has reached 3000 U.S. dollars. In this condition Indonesia can no longer be called a developing country or emerging market. With a per capita income is growing public awareness of insurance should have increased.Each individual should have insurance to protect themselves. Moreover, with the increasing growth segment sizeable middle class in Indonesia is expected capabilities Indonesia also increased public spending, including insurance shopping, the Indonesian people often do not understand the importance of insurance. Indonesian society tends to think that insurance just throw money, if there is no claim until the time limit specified. In fact, now many personal line insurance suitable and affordable for the public.
- Selective Insurance Group financial results ended December 31, 2012 : Selective Insurance Group, Inc. (NASDAQ:SIGI) today reported its financial results for the fourth quarter and year ended December 31, 2012. For the quarter, net income per diluted share was $0.02 and operating loss1 was $0.04. Net income for the year was $0.68 per diluted share and operating income1 was $0.58 per diluted share. Overall net premiums written grew 5% in the quarter and retention was up a point to 85%.
“Hurricane Sandy was the most significant event in company history, yet we still ended the quarter with positive net income – a testament to our strong underlying insurance operations performance and our comprehensive reinsurance program,” said Chairman, President and Chief Executive Officer Gregory E. Murphy. “For the quarter, Sandy resulted in net catastrophe losses of $47 million and a reinsurance reinstatement premium of $9 million; partially offset by flood claims handling fees of $16 million; resulting in an overall, pre-tax, net loss of $40 million and $0.46 per diluted share after tax. Sandy contributed 9.8 points to the combined ratio for the quarter, but only 2.5 points to the year, yielding an overall fourth quarter statutory combined ratio of 110.4%, excluding the impact from Sandy2 it was 100.6%.
“The hurricane made landfall in our top market share state of New Jersey,” said Murphy. “Our Claims and Flood departments have been working tirelessly to resolve claims quickly and fairly, and to inform flood customers of the federally mandated National Flood Insurance Program’s claims process. Personal lines received approximately 8,000 claims and have closed 85% and commercial lines received approximately 5,000 claims and have closed 62%.
“We were pleased with our overall performance in the quarter, delivering a statutory combined ratio of 100.6%, excluding the impact of Sandy2. Personal lines led the positive results with a combined ratio of 93.9%, excluding Sandy2, and renewal price that increased 8.3% for the quarter. In personal lines, we continue to file rate increases as well as improve the mix of business and expand the number of agency storefronts,” said Murphy.
“For the quarter, standard commercial lines had a combined ratio of 101.1%, excluding Sandy2,” continued Murphy. “We completed our 15th consecutive quarter of price increases with standard commercial lines renewal price up 6.7%, and 6.2% for the year. Our granular pricing strategy and sophisticated underwriting, as well as our strong agency relationships, has given us an edge over the past several years that continues to pay off in strong results.
“Investment income for the quarter was $26 million, after tax, compared to $23 million in the fourth quarter 2011, due to improved performance in the alternative investment portfolio. For the year, investment income, after tax, was $100 million. We continue to manage our investment income through a very low interest rate environment without unduly adding more credit or duration risk,” concluded Murphy.
Fourth Quarter Highlights 2012 Compared to Fourth Quarter 2011
Net income of $1.3 million, or $0.02 per diluted share, compared to $18.0 million, or $0.33 in 2011
Operating loss1 of $2.3 million, or $0.04 per diluted share, compared to operating income1 of $20.4 million, or $0.37 in 2011
Combined ratio: GAAP: 109.0% compared to 97.9% in 2011; Statutory: 110.4% compared to 98.7% in 2011
Combined ratio excluding the impact of Hurricane Sandy2: GAAP 99.3%; Statutory 100.6%
Favorable prior year statutory reserve development on our casualty lines totaled $2 million compared to $10 million in 2011
Total net premiums written (NPW) were $370.6 million, which were reduced by the reinstatement premium related to Hurricane Sandy of $8.6 million
Standard Commercial Lines NPW were $273.2 million
Standard Personal Lines NPW were $68.1 million
Excess and Surplus Lines NPW were $29.4 million
Catastrophe losses were $33.8 million, after tax, including $30.3 million for Hurricane Sandy
Gross pre-tax catastrophe losses from Hurricane Sandy were $136 million
Flood net income of $12.0 million, after tax, including $10.1 million for Hurricane Sandy
Investment income, after tax, was $26.3 million
Net realized gains, after tax, totaled $3.6 million
Year-End Highlights for 2012 Compared to Year-End 2011
Balance Sheet and Guidance
- Net income was $38.0 million, or $0.68 per diluted share, compared to $22.0 million, or $0.40 in 2011
- Operating income1 was $32.1 million, or $0.58 per diluted share, compared to $21.2 million, or $0.38 in 2011
- Combined ratio: GAAP: 104.0% compared to 107.2% in 2011; Statutory: 103.5% compared to 106.7% in 2011
- Combined ratio excluding the impact of Hurricane Sandy2: GAAP 101.5%; Statutory 101.0%
- Favorable prior year statutory reserve development on our casualty lines totaled $17 million compared to $29 million in 2011
- Total NPW were $1,666.9 million, which were reduced by the reinstatement premium related to Hurricane Sandy of $8.6 million
- Standard Commercial Lines NPW were $1,263.7 million
- Standard Personal Lines NPW were $289.9 million
- Excess and Surplus Lines NPW were $113.3 million
- Catastrophe losses were $64.1 million, after tax, including $30.3 million for Hurricane Sandy
- Flood net income of $19.1 million, after tax, including $10.1 million for Hurricane Sandy
- Investment income, after tax, was $100.3 million
- Net realized gains, after tax, totaled $5.8 million for the year
At December 31, 2012, Selective’s assets were $6.8 billion, up 20% over prior year primarily due to reinsurance recoverables of $1.4 billion, compared with $0.6 billion in 2011, and $4.3 billion in the company’s investment portfolio, which increased 5% compared to December 31, 2011.
Stockholders’ equity was up 3% for the year to $1.1 billion and book value per share increased 2% to $19.77. Statutory surplus was down 1% in 2012 to $1.1 billion.
Selective’s Board of Directors declared a $0.13 per share quarterly cash dividend on common stock payable March 1, 2013 to stockholders of record as of February 15, 2013.
Selective expects to generate a 2013 full year statutory combined ratio, excluding catastrophes, of 96.0%. We currently estimate catastrophe losses will add three points to that ratio. In addition, investment income will be down slightly to $90-$95 million. Anticipated weighted average shares at year end 2013 of 56 million.
The supplemental investor packet, including financial information that is not part of this press release, is available on the Investor Relations’ page of Selective’s public website at www.selective.com. Selective’s quarterly analyst conference call will be simulcast at 8:30 a.m. ET, on February 1, 2013 at www.selective.com. The webcast will be available for rebroadcast until the close of business on March 1, 2013.
About Selective Insurance Group, Inc.
Selective Insurance Group, Inc. is a holding company for ten property and casualty insurance companies rated “A” (Excellent) by A.M. Best. Through independent agents, the insurance companies offer primary and alternative market insurance for commercial and personal risks, and flood insurance underwritten by the National Flood Insurance Program. Selective maintains a website at www.selective.com.
In this press release, Selective and its management discuss and make statements based on currently available information regarding their intentions, beliefs, current expectations and projections regarding Selective’s future operations and performance.
Certain statements in this report, including information incorporated by reference, are “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995 (“PSLRA”). The PSLRA provides a safe harbor under the Securities Act of 1933 and the Securities Exchange Act of 1934 for forward-looking statements. These statements relate to our intentions, beliefs, projections, estimations or forecasts of future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, or performance to be materially different from those expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by use of words such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “target,” “project,” “intend,” “believe,” “estimate,” “predict,” “potential,” “pro forma,” “seek,” “likely” or “continue” or other comparable terminology. These statements are only predictions, and we can give no assurance that such expectations will prove to be correct. We undertake no obligation, other than as may be required under the federal securities laws, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Factors that could cause our actual results to differ materially from those projected, forecasted or estimated by us in forward-looking statements, include, but are not limited to:
These risk factors may not be exhaustive. We operate in a continually changing business environment, and new risk factors emerge from time-to-time. We can neither predict such new risk factors nor can we assess the impact, if any, of such new risk factors on our businesses or the extent to which any factor or combination of factors may cause actual results to differ materially from those expressed or implied in any forward-looking statements in this report. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this report might not occur.
- difficult conditions in global capital markets and the economy;
- deterioration in the public debt and equity markets and private investment marketplace that could lead to investment losses and fluctuations in interest rates;
- ratings downgrades could affect investment values and therefore statutory surplus;
- the adequacy of our loss reserves and loss expense reserves;
- the frequency and severity of natural and man-made catastrophic events, including, but not limited to, hurricanes, tornadoes, windstorms, earthquakes, hail, terrorism, explosions, severe winter weather, floods and fires;
- adverse market, governmental, regulatory, legal or judicial conditions or actions;
- the concentration of our business in the Eastern Region;
- the cost and availability of reinsurance;
- our ability to collect on reinsurance and the solvency of our reinsurers;
- uncertainties related to insurance premium rate increases and business retention;
- changes in insurance regulations that impact our ability to write and/or cease writing insurance policies in one or more states, particularly changes in New Jersey automobile insurance laws and regulations;
- recent federal financial regulatory reform provisions that could pose certain risks to our operations;
- our ability to maintain favorable ratings from rating agencies, including A.M. Best, Standard & Poor’s, Moody’s and Fitch;
- our entry into new markets and businesses; and
- other risks and uncertainties we identify in filings with the United States Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K and other periodic reports.
Selective’s SEC filings can be accessed through the Investor Relations’ section of Selective’s website, www.selective.com, or through the SEC’s EDGAR Database at www.sec.gov (Selective EDGAR CIK No. 0000230557).
1 Operating income differs from net income by the exclusion of realized gains or losses on investments and the results of discontinued operations. It is used as an important financial measure by management, analysts and investors, because the realization of investment gains and losses on sales in any given period is largely discretionary as to timing. In addition, these investment gains and losses, as well as other-than-temporary investment impairments that are charged to earnings and the results of discontinued operations, could distort the analysis of trends. Operating income is not intended as a substitute for net income prepared in accordance with U.S. generally accepted accounting principles (GAAP). A reconciliation of operating income to net income is provided in the GAAP Highlights and Reconciliation of Non-GAAP Measures to Comparable GAAP Measures. Statutory data is prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners Accounting Practices and Procedures Manual and, therefore, is not reconciled to GAAP.
2 The Hurricane Sandy impact includes catastrophe losses, reinstatement premium on the catastrophe reinsurance program and the flood claims handling fees generated as a result of Hurricane Sandy.
- Whether you are new to the insurance world, wanting to combine your policies or shopping for better rates or coverage, you probably have some questions. Here you will find lots of helpful information that will make it fast and easy to learn more about the often, confusing world of auto insurance.
Not every part of growing old is pain: Once you reach 50, you are entitled to a discount on your car insurance. Insurance companies are well-aware that senior drivers are, statistically, the safest on the road. Almost every insurer offers discounts for drivers between the ages of 50 and 70. If you are in this bracket, make sure you get the discount due to you.
Make sure that you take unnecessary drivers off of your automobile insurance policy. If there is someone on your policy that does not drive one of your vehicles any more, let your insurance company know right away. This change will reduce the amount of money you pay in insurance rates each month.
If you are looking to save money with auto insurance, you should think about going down to one car. Ask yourself if you really need two cars. Can you share with your husband or wife? Can you walk places you normally drive? You can save a lot of money this way.
Find ways to reduce your daily commute. See if you can carpool, drop one car altogether, or switch jobs to one that is closer to home. Can you do some of your job duties from your home office? The fewer miles you drive, the less you will need to pay in car insurance.
Increasing your automobile insurance deductibles can end up saving you considerable amounts of money. Chances are that in the long run, you’ll end up saving more per month by having a higher deductible than you’ll save by having a low deductible when it comes time to make a claim.
Learn what the best auto policy is for you by researching on your own. Don’t expect the insurance company employee to tell you. An employee can help guide you through policies, but might not have in mind what is best for you. Depending on what type of commission plan an agent receives, the employee may be steering you toward policies that are in the best interest of the employee’s paycheck.
As expensive as adding your teen driver to your auto insurance policy can be, it may be worth it in the long run, as it will help him or her to begin building up a good credit report. If they maintain a safe driving record, this history of insured good driving will give them a better rate when they reach adulthood and are purchasing car insurance of their own.
The information you have read, should give you the confidence so that you will be able to go out and make the right choice for your auto insurance needs. Now you should better be able to understand coverage, find affordable rates, keep your family safe and be prepared for any losses that may occur.
- You need to be well informed about this because some insurance companies that make monetary losses from some claims end up shifting that burden to the consumer. You must look for an affordable indemnity cover that will allow you to save some money. Requesting indemnity quotes by filling simple online indemnity questionnaires that are provided by different indemnity companies; you can find and compare indemnity rates online.
Following this simple way, you will be able to compare indemnity coverage and premium quotes from competing indemnity companies. This process can be done in 15 minutes or less and you don’t even need to make a single call or being a part of the lengthy and time consuming meetings with indemnity agents. To find cheap indemnity rates online, you can also look into other non indemnity companies’ sites that have the technology which will allow you to compare indemnity premium quotes from multiple competing indemnity companies in a few minutes by entering your information.
One of the best ways to find out the best rates over the net is to keep checking the quotes of various indemnity plans. This will help the customers get the quotes of their desired choice. The third party indemnity companies can also be consulted for a comparative analysis. Thus, it is very important to compare the indemnity quotes before buying an insurance scheme.
Given the current recession it is important to make sure to prioritize your money and compare insurance quotes online. A good place to state would be an online website that actually allows you to compare insurance quotes online for free.
- Zacks downgraded Rating Stock of Meadowbrook Insurance Group : Zacks downgraded shares of Meadowbrook Insurance Group (NYSE: MIG) from a neutral rating to an underperform rating in a report issued on Thursday. They currently have $6.00 target price on the stock.
Meadowbrook Insurance Group traded down 0.95% on Thursday, hitting $6.27. Meadowbrook Insurance Group has a 1-year low of $5.21 and a 1-year high of $10.19. The stock’s 50-day moving average is currently $5.98. The company’s market cap is $312.1 million.
Meadowbrook Insurance Group, Inc. (Meadowbrook) is a specialty focused commercial insurance underwriter and insurance administration services company.
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