Results tagged “premium”

U.S. reinsurers report decrease in net premiums written

A group of 21 U.S. property and casualty reinsurers wrote US$17.9 billion of net premiums during the nine months ended Sept. 30, 2007, compared to US$19.6 billion in net premium written during the same period in 2006, according to an analysis conducted by the Reinsurance Association of America (RAA).
The combined ratio for the group was 94.1%, an improvement over the 95.4% combined ratio reported for the same period last year. The 2007 combined ratio takes into account a 65.6% loss ratio and an expense ratio of 28.5%, according to the RAA.
Gross premiums written totalled US$28 billion for the first nine months of 2007, and direct premiums written amounted to US$2.26 billion.
Swiss Reinsurance America Corp reported the highest gross premiums written, at US$4.1 billion. Second was National Indemnity Company, which reported US$3.3 billion.
Munich Re America Corporation reported the highest direct premiums written in the nine months ended Sept. 30, with US$5.59 million. Odyssey America Re reporting US$4.27 million.
Net underwriting gain was US$1.17 billion total for the first nine months, with nine of the 21 companies reporting a loss.


Top 10 tips to Lower Your Auto Insurance Bills

1. Take a driver safety course.

2. Increase your deductible.

3. Forgo comprehensive and/or collision coverage.

4. Compare prices regularly.

5. Use the same company for homeowners and auto insurance.

6. Take advantage of group discounts.

7. Choose a vehicle that is less expensive to insure.

8. Use your clean credit report to your advantage.

9. Ask about discounts for young drivers.

10. Pay your premium in advance.

Detailed description about the above top 10 tips to save your Auto Insurance bill, click here.

Canadian EI controbute reduce

Canada's unemployment insurance (EI) premiums will fall by almost 4 percent next year, Finance Minister Jim Flaherty said on Thursday.

Canada's Finance Minister Jim Flaherty announced it.

The rate for employees will fall to $1.73 from $1.80 per $100 of insurable earnings. Employers will have to pay $2.42 instead of $2.52 per $100 of insurable earnings.

Premium rate of Non-U.S.A. Plan

When you take the vacation to foreign country other than U.S.A., the TIC travel insurance for Canadian has good rate for you.

Let's get some detail about it.
TIC has a Non-U.S.A. Plan for it.

Age 0-30, $1.15 per day up to 365 days.
Age 31-54, $1.45 per day up to 365 days.

Looks cheap.

Bad credit will impact your insurance

Credit is such a important tag of a human. You may find it is after reading Don't let bad credit impact your insurance on Yahoo.

Insurers get insurance scores from the three major credit bureaus: Equifax, Experian and TransUnion. They also receive scores from Fair Isaac, the leading maker of credit scores, and ChoicePoint, a provider of identification and credential verification services for business and government.

What can you do to protect your credit or improve your credit?
Pay bills on time, keep balances low and apply for credit only as needed.

How much about the U.S.A Plan

Now US dollar is almost same as Canadian dollar. So lot of Canadians go do down Stats and do shopping and travelling.

OK, if you want to buy a U.S.A Plan of Travel Insurance for Canadian through TIC, I can give you some premium indication firstly.

Age 0-30, $1.75 per day up to 365 days.
Age 31-54, $2.10 per day up to 365 days.

For a family is $5.40 per day up to 35 days.
Family means a maximum of 5 persons and includes the applicant and their spouse under age 61 and their dependent children under age 22.

You can get some idea about the premium you need to pay to U.S.A

Ontario auto rates decrease again

The Financial Services Commission of Ontario (FSCO) has approved an average fourth-quarter rate decrease of 2.56% for 12 companies representing almost a quarter of the Ontario private passenger auto insurance market.

The average rate decrease for the first, second, and third quarters were 1.12% (7.5% of the market), 1.62%(45.79% of the market) and 1.62%(61.82% of the market), respectively.

Rate changes approved for the entire market averaged a decrease of 10.6% in 2004, FSCO recently announced on their Web site. In 2005, approved rates declinded by 2.43% for the entire market.

"The rate changes posed reflect cost savings measures arising from recent reforms to the automobile insurance system, which are being passed onto consumers in the form of lower rates," FSCO says on its web site. "The approved rate change shown for each insurance company is the average for that particular company. The impact of a rate change on an individual consumer will vary depending on where the consumer lives, the type of car he or she is driving, and other risk characteristics."

Rate of Basic Insurance increase

BC's ICBC announce that his rate of basic insurance will increase about 6.5%

On February 1st, the BC Utilities Commission (BCUC) approved ICBC's application for an interim rate increase of 6.5% on basic insurance, effective March 15. The interim rate will remain in place until the BCUC renders its final decision on 2006 basic rates, expected in late May of this year. If the BCUC approves a final rate lower than 6.5%, affected customers will receive a refund subject to the conditions ordered by the Commission.

ICBC's January 27 application to the BCUC sought a basic insurance rate increase of 6.5% for 2006 on an interim and permanent basis, as a result of significantly increased injury costs for claims.

If I can’t pay my premium, what should I do?

If unexpected expenses come up and you can’t pay your life insurance premium, you should know the possible consequences. The effect depends on the type of policy and coverage you have and the policy terms and conditions.

Term: If you stop paying premiums, your coverage lapses.

Permanent: If you have this type of policy, you will have the following choices:

Cash out the policy.
This means that you can stop paying the premium and collect the available cash savings. You will no longer be covered by life insurance, but you will at least save some of the proceeds of the policy. You may, however, have to pay taxes on some of the cash value if the sum exceeds what you have paid in premiums.

Non-forfeiture options
There may be a “reduced paid-up” option. This means that you can stop paying premiums completely in return for a reduced death benefit and no cash saving. You may also be able to convert the permanent policy to an extended term policy for a time period based on the accumulated cash savings in the policy.

How much will it cost for Home Insurance?

There are many factors an insurance company uses to determine the price of your policy:

*The square footage of the house and any additional structures.
*Building costs in your area.
*Your home's construction, materials and features.
*Amount of crime in your neighborhood.
*The likelihood of damage from natural disasters, such as hurricanes and hail storms.
*The proximity of your home to a fire hydrant (or other source of water) and to a fire station, whether your community has a professional or volunteer fire service and other factors that can affect the time it takes to put out fires.
*The condition of the plumbing, heating and electrical system.

If you rent your home or own a condo/co-op, your insurer will not consider the size of the dwelling or building costs. However, it will take into account factors that make damage to your possessions more likely.