News

Comparison Websites

One of the leading websites that offer comparisons between different insurance policies for excess insurance for cars, Moneymaxim has yet represented the famous comparison tool of theirs.  Moneymaxim.co.uk was first launched 4 years ago in 2008. It is owned by Mark Bower

On the 17th of May, they launched the comparison feature tool that compares between the car hire insurance accompanied by many new features and options. These features include the insurers’ ability to save 20 percent from the normal car insurance policies. This re-launch of this feature and the new version of the website give the users and the people who rent cares the ability to locate the most suitable car hire insurance policy, wherever they are decide to go. The new feature makes the user choose the country he is planning to go to and the website would give them a list of the most suitable insurance policies available at the country they are going to.

This is very helpful because many people don’t know the definitions and the different features of the insurance policies in Europe, so this feature would help them find the best insurance rates that would over their rent car in the way that fits them. It also works for people who live in the United Kingdom and they have friends or relatives who are coming to visit, so finding the suitable insurance policies for them in the UK would be very helpful. This is due to the fact that there are several features in different policies that are only applied on the people who don’t live in the United Kingdom.

This new feature at Moneymaxim also gives the users the details and the information that they need about more liability coverings, such as misfuelling and lost key, this way all the features of an insurance policy is covered. So the insurers can easily compare different insurance policies by knowing all the details and the information about each policy. Also, all the policies available on Moneymaxim cover any kind of damage to the wheels, glass, roof and wheels of the rented cars, which isn’t available in all of the policies that it offered by most firms. The website also gives the users the ability to compare and search for both kinds of insurance, either its full collision and liability or excess hire insurance policies. This is very helpful as it supplies the users with all the available options that can be found on the market so the user can pick the type of insurance and the insurance policy that will satisfy his needs.


Approval for Call Options for Ambac

Ambac Assurance has stated that it has finally got the approval that the company needed form the authorities involved in order to have the ability to use call options in order buy around 939 million dollars in aggregate par amount of surplus papers that was released on the 7th of June, 2 years ago in 2012 for a payment that equal 278 million dollars. These authorities are the commissioner office of Wisconsin, the OCI and the Rehabilitator. This comes as a result of the announcement that was made by the company on the 10th of May of this year, as the company stated that the directors agree on using call options to purchase such notes.

Although the Rehabilitator and the OCI has given the company the needed approvals, but such approvals will only become effective once the state’s Circuit Court gives its blessings as well. In fact, following such approvals, the Rehabilitator has started to take actions in the Rehabilitation Court in order to get such approvals from the court. Besides that, the Rehabilitator has stated that he is looking forwards to gain the approval of the Rehabilitation Court in order to create partial interim policy claim payments to the segregated account policyholders. If these payments are ok with the court, according to the directions of the Rehabilitator, the company will start to pay off the ¼ of every policy claim that has been filed since the beginning of the rehabilitation actions for the segregated accounts. Besides that, it will pay ¼ of every claim that will be filed in the future after the finishing of such rehabilitation proceedings.

The analysts at the company have announced that they predict that the company will initiate paying these payments by the 3rd quarter of this year, around the 31st of March. Despite the fact that there were plans that were predicted to take effect, these plans were approved by the court and it stated that the company will pay ¼ of the claims in cash, and 75 percent in surplice notes, but these plans haven’t been implemented so far. There hasn’t been any announcement or statement regarding the implementing of this plan, and how will this plan affect the Rehabilitation plan in progress. According to the Rehabilitator, details and information regarding all of this will be announced when they see fitting. The Rehabilitator is also looking forward for the court to approve a presented settlement that has the terms that was included in an offer that was presented by the IRS to the United States govt. regarding the unresolved disputes regarding the tax treatments of swap contracts.


Medicare Mandates

Save Insurance

There has been a lot of worries and fears of what will happen if the Supreme Court rules against the mandate and quite possibly, the whole affordable care act that was presented by Barack Obama’s administration. According to reports and polls, the number of American citizens who don’t have health insurance went up from 15% in 2008 to 17% last year. So this means that the new private insurance system is failing to increase the number of insured people, but it is also increasing the number of uninsured people, which is a disaster.

The situation in the state of West Virginia is more stable, as the number of uninsured people is the same as last year at 18% of the residents. Despite this stability, but 18% of the population is uninsured is way above the standards and national numbers of the United States. In West Virginia there is another problem, especially for the insured citizens of the state. As the premiums of full family insurance is on the rise, noticeably. Citizens who first enrolled paid a total sum of 12,554 dollars three years ago, this number increased by 16% the next year, as the premium increased to 14,540 dollars. The employer picks up the 10,150 dollars of the cost, but this will lead to decreasing the wages over the course of time. This is not all, as it can also lead to the relocation of the factories that are located in West Virginia.

There are some hard decisions to be made every year. These choices include, increasing the employee copayments & deductibles due to the high charges of insurance. Another option is to increase property taxes or to cancel road maintenance, the sheriff, EMS and other programs of that sort. For small businesses, it is even harder, because they don’t have the ability to increase their yearly revenue by increasing taxes. As for big businesses and firms, they are simply moving out with their operations outside the U.S and they take in more premiums.

There is only one solution for this predicament; the solution is Medicare for everyone. Having one system with one payer will insure that no increase in costs will take place and it will have the ability to cover all the residents. This is why, the govt. should really examine and look into the Reid plan that aims to provide every one with Medicare and expand it exponentially. This plan was presented by Senator Harry Reid 3 years ago. He stated the possibility of an optional purchase for people who are 55-64 years who don’t yet have a private insurance policy. Responding to that, all of the hospital and physician accompanied by insurance lobbies refused it. Some of them had logical reasons, and some of them were just looking after themselves.


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