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Blog Post
9/18/2008
Posted by Carmen Balber
AIG’s near collapse has at least one silver lining: the US House took HR 5840 (Kanjorski, D-PA) off the floor yesterday. The bill would allow the treasury department to override state regulation of the insurance industry. (Consumer Watchdog’s letter to Rep. Kanjorski is here.) Kudos to Representatives Speier (D-CA) and Kucinich (D-OH...
News Release
9/17/2008
CONTACT CONTACT: Doug Heller, 310-392-0522, ext. 309
H.R. 5840 (Kanjorski) On House Calendar Today Would Allow Treasury Dep't to Preempt Certain State Laws Santa Monica, CA -- In a letter today to Congressman Paul Kanjorski (D-PA), Consumer Watchdog, a California-based nonprofit, said that the massive federal bailout of America’s largest insurer means that Congress needs to rethink a proposal...
News Release
9/15/2008
CONTACT CONTACT: Carmen Balber, (310) 392-0522, ext. 324
Consumer Watchdog Calls on State Insurance Regulators to Protect Consumers From AIG Investment Losses   Santa Monica, CA -- Consumers should not pay higher premiums to cover AIG’s losses as the company tries to recover from poor investment decisions, said consumer advocates with a leading insurance reform organization today. New York...
Blog Post
9/15/2008
Posted by Jamie Court
Remember how incredulous those CNBC Wall Street denizens were when I suggested a few weeks back that insurers' investment losses, particularly in the subprime mortgage mess, would hit the Dow?  Well, wonder what those anchors are saying now about that "big charge" I made.  The New York Times reports on its home page this...
Blog Post
9/2/2008
Posted by Jamie Court
The CNBC anchors acted like I'd yelled fire in a crowded movie house when I pointed out this morning that it was investment losses driving insurance premium increases, not Hurricane Gustav or Katrina. You can watch the clip here  "A big allegation," the insurance industry spokesperson I was debating agreed. Well, the trade press...
Feature
7/22/2008
KAMJ
Harvey Rosenfield discusses why it took nearly 20 years to end the corporate practice of zip-code based auto insurance.   Part 1   Part 2   Part 3
Blog Post
7/17/2008
Posted by Carmen Balber
Last week, Allstate was ordered by the Insurance Commissioner to reduce its homeowners insurance rates by approximately $242 million - an average $250 savings for each Allstate policyholder. The reduction followed on the heels of another quarter-billion rate reduction, that time for Allstate's auto customers, back in March. Consumer Watchdog...
News Release
7/10/2008
CONTACT CONTACT: Doug Heller, (310) 392-0522, ext. 309; or Carmen Balber, ext. 324
Consumer Advocates Applaud Commissioner Poizner's Ruling, Shift Focus To Investigation of Possible Refunds for Past Allstate Overcharges      Santa Monica, CA -- Allstate (NYSE: ALL) homeowners’ insurance customers will save $242 million a year under a Wednesday order by Insurance Commissioner Poizner that the company lower...
News Release
7/9/2008
CONTACT CONTACT: Harvey Rosenfield, (310) 392-0522, ext. 303
Court to Decide Whether Insurance is a “Service”   Santa Monica, CA -- Consumer Watchdog today urged the California Supreme Court to subject insurance companies to one of the state’s main consumer protection laws.   In a “friend of the court” brief, Consumer Watchdog urged the court to overturn a ruling last...
News Release
6/26/2008
CONTACT CONTACT: Carmen Balber, (310) 392-0522 ext. 324; or Pamela Pressley, ext. 307
Homeowners Will Save An Average $512 A Year   Santa Monica, CA -- California homeowners with Fireman’s Fund insurance coverage will save a total of $35.1 million per year under an order issued last week by Insurance Commissioner Poizner that requires Fireman’s Fund to lower its premiums by 17.9%. The savings come as a result of...