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FirstBest Systems Establishes Underwriting Knowledge Center
LEXINGTON, MA -- 07/10/07 -- FirstBest Systems(TM), developer of advanced Underwriting Management Systems(TM) that enable commercial insurance carriers to profit from better underwriting, today announced the formation of an Underwriting Knowledge Center. Led by insurance industry experts with a significant amount of insurance expertise, the new group will offer customers deep, focused insurance industry knowledge and best practices to enhance the core business process of underwriting. FirstBest Systems is a new software company formed to address the need in the commercial insurance industry for a web-based solution, specifically designed to address today's underwriting challenges. With the formation of the Underwriting Knowledge Center, FirstBest now offers a complete business solution combining state-of-the-art software and industry best practices, to help carriers achieve profitable growth and greater customer intimacy with agents.
Drivers need better maintenance skills
A new survey has revealed that 65 per cent of women's car insurance customers are not certain how to fit a spare tyre and that men's vehicle knowledge is hardly any better.Research conducted by breakdown assistance company Green Flag found that a number of drivers lack basic diagnostic and maintenance skills, with 11 per cent of people quizzed not even certain how to open a car bonnet.Green Flag spokeswoman Philippa Naylor said people could significantly reduce the risk of breaking down by taking the time to make some straightforward checks."There are few things more boring than being stuck waiting for help and just by brushing up on some basic car maintenance knowledge, drivers could identify some simple problems before the frustration kicks in," she said.The survey also found that 30 per cent of female drivers - who can benefit from cheap deals on their women's car insurance - do not know how to check tyre pressure and that 61 per cent have no idea where to find the spark plugs.Men fared little better, with five per cent admitting to never having opened a car bonnet and nine per cent confessing to not even knowing what their registration number is.A recent survey conducted by insurer Sheilas' Wheels revealed that 70 per cent of women drivers were not aware that wearing the wrong kind of shoes when driving could be dangerous.Kwik-Fit Insurance provides its female customers with £150 personal belongings cover as part of their women's car insurance policy.© Adfero Ltd
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Live Earth Concert-Goers Can Go Neutral with Esurance
SAN FRANCISCO, June 29 /PRNewswire/ -- Esurance, the direct-to-consumer personal auto insurance company, announced its plans to offset the carbon dioxide emissions of those driving to the Live Earth concert in New Jersey on July 7, 2007. The CO2 offsets will be provided by NativeEnergy, a privately held Native American energy company that helps build Native American, farmer-owned, community-based renewable energy projects to create social, economic, and environmental benefits. John Swigart, CMO of Esurance, stated, "First and foremost, we want our support to help make Live Earth, the largest green event of its kind, as green as possible. The best solution for reducing CO2 on July 7 would be for concert-goers to take public transit. However, we recognize that some people will still need to drive to the event.
Insurance company instructed to pay injured player
Tuesday 3rd July 2007: The Irish Rugby Union Players Association (IRUPA) has welcomed the recent decision of the Financial Services Ombudsman to instruct an Insurance Company to pay out on a claim by an injured rugby player. It was a hugely important decision that affects all players contracted to the IRFU and therefore is of huge interest to IRUPA.
The facts of the case are the player suffered a career ending injury and tried to rehabilitate himself to the best of his abilities with the best medical advice including playing amateur rugby but could not reach the standard needed to play professional rugby. The IRFU kept the player on in the hope that he might make a full recovery but eventually after 18 months when it was clear that he would not make a recovery, the contract was not renewed and he subsequently made the insurance claim to which he was entitled to under his contract of employment.
AM Best Downgrades Ratings of Northstar Life Insurance Company
OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has downgraded the financial strength rating (FSR) to A (Excellent) from A+ (Superior) and the issuer credit rating (ICR) to "a+" from "aa" of Northstar Life Insurance Company (Northstar) (Ithaca, NY) (now known as Fort Dearborn Life Insurance Company of New York) (FDL NY). The outlook for both ratings is stable. Effective July 1, 2007, Northstar was acquired by Fort Dearborn Life Insurance Company (FDL) from the Securian Financial Group (Minnesota). FDL purchased 100% of the outstanding Northstar common stock on this date and renamed the company Fort Dearborn Life Insurance Company of New York. FDL NY is a subsidiary of FDL, a life insurance provider domiciled in Illinois, which is a subsidiary of Health Care Service Corporation, a Legal Mutual Reserve Company (Chicago, IL).
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