* Consider your deductible – the higher the deductible, the bigger the discount (it could produce savings of 15 percent to 30 percent or more).
* Insure your car and home in the same place – and get the discount.
* If you modernized your heating, plumbing or electrical systems – let the insurer know about it, you could get the discount.
* Stop smoking – some insurers offer to reduce premiums if no one in the home smokes.
* Insure your house, not the land – do not consider the value of the land when buying house insurance policy.
* Do not loose the chance to inform insurer about your past insurance history – no claims history could get you a discount.

According to a House representative, Citizens, a state-run insurance company, covers 21% of Florida property insurance policies. Nearly 50% of the United States’ total wind risk is in Florida and about 80% is exposed to unwanted danger in coastal areas. The company held a conference saying that it is about knowing how vulnerable life can be, how good living is and most of all, how things we are afraid of can scare us off like unwanted accidents. Which is a bad thing because insurance is all about saving what is valuable and people should avail of it especially those in high risk areas.

Because of budget crisis occurring simultaneously among several countries, the crisis on insurance was no longer the main issue. Yet despite of that, coverages are still unaffordable and often aren’t available in many areas. But what’s more worrying is a Senate Bill that encourages the development of Citizens Property Insurance Corp., a state-run insurer, extending the dependence on luck rather than firm rates. Not only that, there is a freezing of rate which is about to expire at the end of 2008 and will then be extended for another year.

News have been spread that U.S. is presently undergoing some economic problems. But these said economic problems will not have a strong impact on property/casualty insurers, this is what Dr. Robert P. Hartwig, president of the Insurance Information Insitute (I.I.I.) had predicted. As of now, property insurance companies are in good track compared to banks. Even though this industry never encompassed the profitability benchmark during its peak years, it will survive the economic problems of U.S. Unlike bank accounts/loans, insurance policies such as property/casualty policy and workers’ compensation are required and are renewable, thus, helping companies regulate the flow of revenue.

Photo taken from http://jutiagroup.com

Flood is a natural phenomenon and does not spare any country from experiencing it. Those countries that haven’t experience flood itself are pretty lucky (or should I say they’re missing half of their life?).

The First American Spatial Solutions have designed a flood model named U.S. Flood Catastrophe Model to further their studies on the flood systems in the United States. It has incorporated some of their programs such as the Advanced Flood Risk Solutions that includes some of their key concepts such as geospatial analytics, basic and advanced flood data, risk scoring, real time monitoring and so on and so forth.

Photo taken from http://pasc.met.psu.edu

A massive positive shift dropped policy coverage costs with wind coverage as much as 25 to 50 percent since December of this year. This reduction is based on the construction of the businesses. This is thrilling news for business owners in New Orleans. They are constantly being pressed on all sides in today’s tough business climate by felony, few tourists, raging energy expenditures and steady inflation rate. So business owners: purchase your insurance now while the good times are still around.

The House Jobs and Entrepreneurship Council together with the Senate Banking and Insurance Committee approved a bill that would give insurers the ability to offer businesses a new type of property insurance exempted from most state rate regulations and fees. A thumbs up was also given by the House Committee to bills that would be a first step of major refurbish of US Citizens. This is good news for citizens of the US; they should better get an insurance at the earliest chance because this opportunity may not last for long.

Sometimes, for a company to be “healthy”, it needs to sell some assets and stocks to private individuals to raise some capital and improve shareholder percentage. With this, the company can encourage more investors to put money into their company.

But some companies do this because their finances are dwindling. It was a surprise to most that AIG or the American International Group Inc. decided to sell their division that rakes the most money. AIG lost a total of $7.8 billion in their first quarter of operation. Almost the same problem is experienced by Citigroup and has been advised to do the same with their stocks.

Photo taken from http://www.listphile.com

According to a study conducted in the U.S., insurance clients from Florida are paying a much higher premiums for their home insurance than what is needed and the leading cause of this is the state’s burdensome rules. Because of this, the state got an “F” grade in terms of its insurance climate. An official comments that Florida happens to be the worst homeowners’ environment in the country. Also, the state truly deserves to get a failing grade since it is the state who set insurance rates not agreeable to its people.

American International Group Inc. or AIG is a world leader in insurance and financial services with operations distributed in more than 130 countries and jurisdictions. AIG companies serve customers through extensive property-casualty and life insurance networks. Also, they are leading providers of retirement services, financial services and asset management around the world.

AIG has renamed its Domestic General insurance unit as Property Casualty Group. Kristian P. Moor, AIG Executive Vice President, led the unit which includes Domestic Personal Lines, United Guaranty Corp., and Hartford Steam Boiler. The Domestic Brokerage Group will be called as AIG Commercial Insurance Group and it will be added to the group.

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