When people buy a car they often do not have a car insurance policy in place before the purchase is complete. In the state of Mississippi, Governor Haley Barbour needs to review the new House bill regarding car insurance. The name of the bill is House Bill 620. It has already been passed by the state’s legislature. What the bill does is require drivers to get car insurance coverage. If they do not then the tax clerk will not give them a car tag.

A car tag is very important to people because every year a person needs to register their vehicle. If their car does not become registered then people will face fines for non-compliance.  The police now will be able to monitor people to make sure that they always have car insurance coverage on their vehicles because of the tax tags that are being issued. Th

Read more…

This story begins like thousands of others around North America. A guy begins a restoration project, then life gets in the way and the project gets put on the back burner. That is code for being stuck in the back of the garage and having stuff piled on top of it.

For Mark Bard, the story began in 1979 when he began restoring the 1970 Mustang Mach1 you see above. It got stuck in the corner just a year later. In 2006, work finally resumed on the project, which was finally completed this year. 2011.

32 years later!

They say that good things come to those who wait and Marks Mach1 is a very good thing.

This Mustang is an interesting combination of old meets new, as one can see that special attention has been paid to keeping the Seventies flavor, while adding in some modern touches.

Read more…

With budgets being increasingly tight these days, more and more people are looking for ways to save some cash. One way of doing this could be to see what savings can be made on your respective insurance policies, and if you’ve got a caravan insurance policy it could be wise to consider taking on a voluntary excess.

Having a caravan insurance policy excess is a pretty standard part of all insurance policies. That is, the insurance company will only pay a claim less the amount of the excess, and the amount often depends on the individual policy and the value of the insured item. T

Read more…

The risks faced by the UK’s insurance industry have been highlighted in the first Prudential Risk Outlook (PRO) to be published by the Financial Services Authority (FSA).

The regulator says that UK life insurers continue to face a number of medium to long-term pressures on profitability, explaining: “In particular, while new business flows are reportedly positive (up around 5% in the first nine months of 2010), net cash flows for the sector (premium inflows less claims and surrenders) … have been negative since 2008.”

According to the study, increased annuity payouts as people retire, “persistently” subdued demand for long-term savings products, increased competition from other types of products, and the decline of products such as with-profits policies, are all to blame.

For general insurers, the PRO describes the sector as “well capitalised” but notes the need to focus on profitable underwriting, as investment income remains under pressure.

In addition, the Outlook states: “Claims inflation is likely to continue across general insurance lines … for example, although motor insurance premiums have risen by a third over the past 12 months, claims are estimated to be up 30% from 2009.”

Five key messages to insurers from the FSA are summarised in the PRO section B page 54.