13 April 2010

Insurance News 13.04

According to the Wall Street Journal, General Motors will increase its annual sales in China to three million vehicles by 2015. This is just the latest evidence that China’s automotive market is growing faster than that of the U.S.

The report, released Monday by the state Department of Insurance, says Mercury apparently has violated the insurance code, "resulting in consumers being overcharged or denied coverage," according to a statement from Insurance Commissioner Steve Poizner.

According to Insure.com, states’ different laws are partly to blame. “Our findings show that the financial ramifications of specific state laws and regulations are driving high rates in certain states,” Amy Danise, senior managing editor of Insure.com, said in a statement. “No matter how good your own driving record is, you’re paying for the decisions of lawmakers.

Mercury officials strongly denied the new allegations. In a statement Monday, the company said it "takes very seriously our responsibilities to consumers and our customers" and added: "We don't engage in practices that would overcharge our customers."

Home Renters Insurance - Ways to Find A Better Deal | Inexpensive Auto Insurance For Senior Citizens

The company and its chairman, George Joseph, have donated more than $7.2 million to state political campaigns in the past decade. In 2009, Mercury donated $13,000 to the gubernatorial campaign of Attorney General Jerry Brown but has not donated to Poizner's campaign for governor.


No comments:

Post a Comment