Stats Show Mass. Auto Insurance Prices Have Been Decreasing

The declines in average car insurance costs have been attributed largely to sweeping changes to the way the state's market is regulated.

2011-01-11

RANCHO CUCAMONGA, CA, January 11, 2011 (Press-News.org) New statistics released by the National Association of Insurance Commissioners (NAIC) and reported by the Insurance Information Institute show that the average cost of car coverage for Massachusetts residents dropped significantly between 2004 and 2008.

The Bay State coverage market saw the largest year-to-year decrease between 2007 and 2008, a drop that has been attributed to the transition from a "fix-and-establish" regulatory system to one of "managed competition." According to the NAIC, the average cost of coverage dropped 8 percent during 2008, the year that managed competition was introduced.

Under fix-and-establish, regulators were the ones setting rates. But with the introduction of managed competition, insurers were granted much more freedom in assessing risks and calculating premiums for consumers. Managed competition's arrival brought with it the introduction of some of the country's top auto insurance companies to the state's market and, according to state regulators, a savings of $270 million on premiums during the first year.

Source: http://www.mass.gov/?pageID=ocapressrelease&L=1&L0=Home&sid=Eoca&b=pr ... &csid=Eoca

But rates were falling even before the switch to managed competition, with the two preceding years each showing 6-percent year-to-year decreases.

Commissioner Joseph Murphy told Online Auto Insurance News that he attributes these pre-managed-competition decreases to national trends, mild winters that resulted in fewer claims, and effective fraud-prevention initiatives. Murphy said fraud-prevention programs fueled by government grants between 2003 and 2006 amounted to tens of millions of dollars in savings.

According to NAIC data, the state's average expenditure was $1,113 in 2004 and was $903 in 2008, the latest year for which they have released statistics.

To learn more about getting covered by one of the best rated insurers in Massachusetts or in any state, consumers can go to http://www.onlineautoinsurance.com/companies/ratings/ where visitors will find informative resource pages and a free-to-use quote-comparison generator that can be used to quickly evaluate rate estimates from a variety of carriers.

ELSE PRESS RELEASES FROM THIS DATE:

Professional Business Bank and California General Bank Complete Merger

2011-01-11

Professional Business Bank and California General Bank, both commercial banks headquartered in Pasadena, Calif., jointly announce completion of their merger effective December 31, 2010. The merger was approved by each bank's respective shareholders and bank regulatory authorities. The combined bank will retain the name Professional Business Bank and continue its mandate of serving small to mid-sized business banking customers. The new Professional Business Bank now represents a community banking network with six locations in Los Angeles and Orange counties. Mary ...

DECRA Roofing Systems Joins HomeSphere

2011-01-11

DECRA Roofing Systems and Lakewood-based HomeSphere, Inc. announced today they have entered into a joint agreement to offer DECRA stone coated steel roofing products to HomeSphere's network of builders using HomeSphere's technology-driven solutions. DECRA joins more than 75 manufacturing brands currently using HomeSphere's BRI lead generation and marketing program to produce new builder leads and strengthen existing business, thus growing their market share through increased homebuilder sales. "This partnership provides a number of new opportunities for over 1,100 ...

G.W. Exotic Animal Park Opens New Lake Area Resort

2011-01-11

Long-awaited funding came in for the G.W. Exotic Animal Park located in Wynnewood, Oklahoma and the park was able to purchase land to open the first ever lake resort with a zoo. Now not only can you come see the nation's largest collection of exotic animals, including over 150 large cats, you can now enjoy fishing, camping, hiking and ATV trails along with nature hikes for schools and education groups. Joe Schreibvogel says, "You must stay diverse in order to keep the people coming in." Mr. Schreibvogel used to tour doing magic and shows with the animals in order ...

G.W. Exotic Animal Park Rescues 24 Animals in First Week of 2011

2011-01-11

The Nation's largest refuge for exotic animals, open to the public, is starting the New Year out rescuing record numbers of animals and 2011 is only one week underway. Starting the New Year with a sudden trip to Ohio to rescue 11 exotic cats including 2 Mountain Lions, 4 African Servals, 2 Caracals, 1 bobcat and 2 Canadian Lynx. "The owner had a sudden heart attack and was not expected to live," said Joe Schreibvogel, Director of the G.W. Exotic Animal Foundation in Wynnewood Oklahoma. "His wife called the park the day before New Years and pleaded for help to re-home ...

New Documentary Film Seeking Personal Stories From People That Never Had the Opportunity to Say Their Last Words to a Loved One Before They Passed

2011-01-11

One More Thing...Before You Go, will open your eyes, ears, mind, and heart to the very personal journey that unlocks the ability to say the last words you were never able to say and maybe gain the closure you need to move forward in your own life, smile, be happy again, and leave a positive memory for you to carry with you. This project features spoken word, live music, dramatic expression, art and dance, all centering on our need for closure when losing someone or something close to us. Starting January 10, 2011, the production team will be seeking participants with ...

HyProCure Procedure to Correct Talotarsal Dislocation and Flat Feet Problems Expands to Germany: Company Increasing Adoption Around the World

2011-01-11

GraMedica has helped thousands of foot pain sufferers in the US with its innovative HyProCure titanium implant and out-patient procedure. Now, the company is pleased to announce that the product and surgical procedure has been adopted and performed in Germany. The HyProCure implant corrects a common foot and ankle ailment called talotarsal dislocation syndrome. This abnormal motion of the ankle on the heel bone can cause devastating effects for patients, ranging from flat feet, heel spurs and plantar fasciitis, to bunions and hammer toes, leg and knee pain, hip and back ...

taxmOuth Bites Back at Rapid Refund Ripoffs

2011-01-11

taxmOuth, the largest tax site on the Internet, announced that the Third Annual National Tax Help Week will focus on ending Rapid Refund Ripoffs. taxmOuth is hosting a week-long series of free events January 10 through 15, 2011 at TaxHelpWeek.com to help taxpayers file their federal and state income tax returns for the 2010 tax year and get thousands of dollars in rapid refunds for free. "This year, we are focusing our efforts on the 8 million people who are most vunerable to being ripped off by Refund Anticipation Loans (RAL), Payday Loans and other qickie refunds schemes ...

Former HP and Kodak Executive Joins SoloHealth to Lead Health Kiosk Distribution

2011-01-11

SoloHealth (www.solohealth.com), a recognized leader in self-directed health care, announced today that Rick Voight, former National Sales Manager of Retail Publishing at Hewlett-Packard, has joined the company. Rick will be responsible for market penetration and distribution of the company's SoloHealth Station, an innovative new solution that allows consumers in high-traffic retail environments to test their vision, blood pressure, and body mass, obtain health and wellness information, and store a history of their results that can be accessed at the consumer's convenience. ...

Optex Security Solutions and Systems Division Partners with Intelligent Marketing, Inc.

2011-01-11

Optex, Inc., a manufacturer of security infrared and laser technology solutions and systems, has signed a partnership agreement with manufacturer's representative firm Intelligent Marketing, Inc. (IMI), Haverhill, MA, to increase its east coast sales support for security integrators and distributors. In conjunction with Optex regional sales managers and technical personnel, IMI will also provide sales, design, and installation support of all Optex Redwall, Redscan and Rednet outdoor detectors for perimeter surveillance. "The partnership with IMI aligns well with Optex's ...

The deVere Group Expanding Its Roots into the Heart of Italy: Milan

2011-01-11

As the company keeps securing its firm footing in Western Europe, the Milan office will bring another dimension to the deVere Group. The office is due to start operating next month. Notably, Milan ranks as the EU's 10th most important centre for business and finance, with its economy being the world's 26th richest by purchasing power. Milan is also recognised as the world's fashion and design capital, with a major global influence in commerce, industry, music, sport, literature, art and media. Mike Coady, deVere Group's Regional Manager for Western Europe, stated, ...

LAST 30 PRESS RELEASES:

Rugged Falklands landscape was once a lush rainforest

Dizziness in older adults is linked to higher risk of future falls

Triptans more effective than newer, more expensive migraine drugs

Iron given through the vein corrects iron deficiency anaemia in pregnant women faster and better than iron taken by mouth

The Lancet Neurology: Air pollution, high temperatures, and metabolic risk factors driving global increases in stroke, with latest figures estimating 12 million cases and over 7 million deaths from st