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Archive for the ‘News’ Category.

Insurance Department Reminds Motorists About Risk of Deer Collision and Need to Drive With Care



























HARRISBURG, Pa., Nov. 1, 2010 /PRNewswire-USNewswire/ — The Pennsylvania Insurance Department reminds motorists to take care in November because of the increased risk of striking a deer.



Deer are most active during the fall and particularly between sunset and sunrise. The animals become less cautious and move around more during their breeding season.



“Almost half of all collisions with wildlife occur between 7 p.m. and midnight,” said acting Insurance Commissioner Robert L. Pratter. “Approximately 80 percent of wildlife vehicle collisions involve deer, and the month of November is a distinctly risky time for deer-related crashes.”



Deer crashes cause more than 150 fatalities nationally as well as tens of thousands of injuries. Pennsylvania ranks third in the nation in deer collisions.



Here’s how to reduce your risk of hitting a deer and injuring yourself or others:



  • Limit your driving time during the sunrise and sunset hours;
  • Drive more slowly during sunrise and sunset hours and keep alert to movement along the highway;
  • Select more major, well-lit routes if there are alternative routes to travel;
  • Allow adequate space between cars to increase braking ability if a deer springs out;
  • Use your high-beam lights when possible to maximize your field of view; and
  • Be on the lookout for multiple deer running in a herd – wherever there is one deer, there are usually others nearby.

The coverage on your auto insurance policy that pays to repair any deer crash damage is known as “comprehensive.” This is an optional property coverage so be sure to check your policy. Also, you are not generally at fault for a property damage claim due to hitting a deer so your rates should not be impacted.



To learn more about insurance claims and coverage visit www.insurance.pa.gov  or phone the department’s toll-free consumer hotline 877-881-6388.



Media contact: Rosanne Placey or Melissa Fox, 717-787-3289



SOURCE Pennsylvania Department of Insurance


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RELATED LINKS
http://www.insurance.pa.gov/

Source: http://www.prnewswire.com/news-releases/insurance-department-reminds-motorists-about-risk-of-deer-collision-and-need-to-drive-with-care-106451228.html

Mercury General Corporation Announces Third Quarter Results and Increases Quarterly Dividend



























LOS ANGELES, Nov. 1, 2010 /PRNewswire-FirstCall/ — Mercury General Corporation (NYSE: MCY) reported today for the third quarter of 2010:

Consolidated Highlights

Three Months Ended

Nine Months Ended

September 30,

Change

September 30,

Change

2010

2009

$

%

2010

2009

$

%

(000′s except per-share amounts and ratios)

Net premiums written (1)

$ 654,686

$ 662,756

$   (8,070)

(1.2)

$ 1,938,261

$ 1,971,053

$   (32,792)

(1.7)

Net income

$   96,849

$ 157,737

$ (60,888)

(38.6)

$    175,845

$    368,837

$ (192,992)

(52.3)

Net income per diluted share

$       1.77

$       2.85

$     (1.08)

(37.9)

$          3.21

$          6.70

$       (3.49)

(52.1)

Operating income (1)

$   40,664

$   46,345

$   (5,681)

(12.3)

$    123,344

$    139,680

$   (16,336)

(11.7)

Operating income per diluted share (1)

$       0.74

$       0.84

$     (0.10)

(11.9)

$          2.25

$          2.54

$       (0.29)

(11.4)

Severance related expenses (2)

$             -

$             -

$            -

-

$                -

$        8,000

$     (8,000)

-

Net expense related to amortization of December 31, 2008

  AIS deferred policy acquisition costs (2) (3)

$             -

$             -

$            -

-

$                -

$      15,000

$   (15,000)

-

Costs related to support of California Proposition 17 (4)

$             -

$        500

$      (500)

-

$      12,100

$        1,000

$    11,100

-

Combined ratio

98.0%

96.4%

-

1.6 pts

97.8%

96.5%

-

1.3 pts

(1)  These measures are not based on U.S. generally accepted accounting principles (“GAAP”) and are defined and reconciled to the most directly comparable GAAP measures in “Information Regarding Non-GAAP Measures.”

(2)  The amounts are rounded to the nearest million.

(3)  Represents the net expense related to Auto Insurance Specialists LLC (“AIS”) deferred commissions at December 31, 2008 amortized in 2009, partially offset by deferred costs related to policy sales made by AIS in 2009.

(4)  The Company supported the Continuous Coverage Auto Insurance Discount Act.



Net income in the third quarter 2010 was $96.8 million ($1.77 per diluted share) compared with net income of $157.7 million ($2.85 per diluted share) for the same period in 2009. For the nine months of 2010, net income was $175.8 million ($3.21 per diluted share) compared with net income of $368.8 million ($6.70 per diluted share) for the same period in 2009. Included in net income are net realized investment gains, net of tax, of $56.2 million ($1.03 per diluted share) in the third quarter of 2010 compared with net realized investment gains, net of tax, of $111.4 million ($2.01 per diluted share) for the same period in 2009, and net realized investment gains, net of tax, of $52.5 million ($0.96 per diluted share) for the nine months of 2010 compared with net realized investment gains, net of tax, of $229.2 million ($4.16 per diluted share) for the same period in 2009. Operating income was $40.7 million ($0.74 per diluted share) for the third quarter of 2010 compared with operating income of $46.3 million ($0.84 per diluted share) for the same period in 2009. For the nine months of 2010, operating income was $123.3 million ($2.25 per diluted share) compared with operating income of $139.7 million ($2.54 per diluted share) for the same period in 2009.  



Net premiums written were $654.7 million in the third quarter of 2010, a 1.2% decrease compared to the third quarter 2009 net premiums written of $662.8 million, and were approximately $1.9 billion for the nine months of 2010, a 1.7% decrease compared to the same period in 2009. Net realized investment gains, net of tax, of $56.2 million and $52.5 million for the third quarter and for the nine months of 2010, respectively, include gains, net of tax, of $57.0 million and $49.4 million, respectively, from the application of the fair value option. Gains, net of tax, from the sale of securities were $0 and $3.2 million during the third quarter and the nine months of 2010, respectively.



The Company’s combined ratio (GAAP basis) was 98.0% in the third quarter of 2010 and 97.8% for the nine months of 2010 compared with 96.4% and 96.5% for the same periods in 2009. The loss ratio was affected by favorable development of approximately $18 million and $40 million on prior accident years’ losses and loss adjustment expenses reserves for the nine months ended September 30, 2010 and 2009, respectively. The favorable development in 2010 is largely the result of re-estimates of accident year 2009 California bodily injury losses which have experienced both lower average severities and fewer late reported claims (claim count development) than were originally estimated at December 31, 2009.



Net investment income of $36.0 million (after tax, $32.3 million) in the third quarter of 2010 increased by 2.2% compared to the same period in 2009. The investment income after-tax yield was 4.1% on average investments (fixed maturities at amortized cost, equities and short-term investments at cost) of $3.1 billion for the third quarter 2010. This compares with an investment income after-tax yield of 4.0% on average investments of $3.2 billion for the same period in 2009. Net investment income for the nine months of 2010 was $108.4 million (after tax $97.0 million), a decrease of 0.9% compared to the same period in 2009. The investment income after-tax yield was 4.2% on average assets of $3.1 billion for the nine months of 2010. This compares with an investment income after-tax yield of 4.1% on average investments of $3.2 billion for the same period in 2009.



The Board of Directors declared a quarterly dividend of $0.60 per share, representing a 1.7% increase over the quarterly dividend amount paid in 2009. The dividend is to be paid on December 30, 2010 to shareholders of record on December 16, 2010.



Mercury General Corporation and its subsidiaries are a multiple line insurance organization offering predominantly personal automobile and homeowners insurance through a network of independent producers in many states. For more information, visit the Company’s website at www.mercuryinsurance.com. The Company will be hosting a conference call and webcast today at 10:00 A.M. Pacific time where management will discuss results and address questions. The teleconference and webcast can be accessed by calling (877) 807-1888 (USA), (706) 679-3827 (International) or by visiting www.mercuryinsurance.com. A replay of the call will be available beginning at 1:30 P.M. Pacific time and running through November 8, 2010. The replay telephone numbers are (800) 642-1687 (USA) or (706) 645-9291 (International). The conference ID# is 16668282. The replay will also be available on the Company’s website shortly following the call.



The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained in this press release are forward-looking statements based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. Actual results may differ from those projected in the forward-looking statements. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the Company) and are subject to change based upon various factors, including but not limited to the following risks and uncertainties: changes in the demand for the Company’s insurance products, inflation and general economic conditions, including the impact of current economic conditions on the Company’s market and investment portfolio; the accuracy and adequacy of the Company’s pricing methodologies; adverse weather conditions or natural disasters in the markets served by the Company; general market risks associated with the Company’s investment portfolio; uncertainties related to estimates, assumptions and projections generally; the possibility that actual loss experience may vary adversely from the actuarial estimates made to determine the Company’s loss reserves in general; the Company’s ability to obtain and the timing of regulatory approval for requested rate changes; legislation adverse to the automobile insurance industry or business generally that may be enacted in California or other states; the Company’s success in managing its business in states outside of California; the Company’s ability to successfully complete its initiative to standardize its policies and procedures nationwide in all of its functional areas; the presence of competitors with greater financial resources and the impact of competitive pricing; changes in driving patterns and loss trends; acts of war and terrorist activities; court decisions and trends in litigation and health care and auto repair costs and marketing efforts; and legal, regulatory and litigation risks. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.  For a more detailed discussion of some of the foregoing risks and uncertainties, see the Company’s filings with the Securities and Exchange Commission.



Information Regarding Non-GAAP Measures



The Company has presented information within this document containing operating measures which in management’s opinion provide investors with useful, industry specific information to help them evaluate, and perform meaningful comparisons of, the Company’s performance, but that may not be presented in accordance with GAAP. These measures are not intended to replace, and should be read in conjunction with, the GAAP financial results.



Operating income is net income excluding realized investment gains and losses, net of tax. Net income is the GAAP measure that is most directly comparable to operating income. Operating income is used by management along with the other components of net income to assess the Company’s performance. Management uses operating income as an important measure to evaluate the results of the Company’s insurance business. Management believes that operating income provides investors with a valuable measure of the Company’s ongoing performance as it reveals trends in the Company’s insurance business that may be obscured by the net effect of realized capital gains and losses. Realized capital gains and losses may vary significantly between periods and are generally driven by external economic developments such as capital market conditions. Accordingly, operating income highlights the results from ongoing operations and the underlying profitability of the Company’s core insurance business. Operating income, which is provided as supplemental information and should not be considered as a substitute for net income, does not reflect the overall profitability of our business.  It should be read in conjunction with the GAAP financial results. The Company has reconciled operating income with the most directly comparable GAAP measure in the table below.



Net premiums written represents the premiums charged on policies issued during a fiscal period. Net premiums earned, the most directly comparable GAAP measure, represents the portion of premiums written that have been recognized as income in the financial statements for the periods presented as earned on a pro-rata basis over the term of the policies. Net premiums written are meant as supplemental information and are not intended to replace net premiums earned. Such information should be read in conjunction with the GAAP financial results. The Company has reconciled net premiums written with the most directly comparable GAAP measure in the supplemental schedule entitled, “Summary of Operating Results.”



Paid losses and loss adjustment expenses is the portion of incurred losses and loss adjustment expenses, the most directly comparable GAAP measure, excluding the effects of changes in the loss reserve accounts. Paid losses and loss adjustment expenses is provided as supplemental information and is not intended to replace incurred losses and loss adjustment expenses. It should be read in conjunction with the GAAP financial results. The Company has reconciled paid losses and loss adjustment expenses with the most directly comparable GAAP measure in the supplemental schedule entitled, “Summary of Operating Results.”



Combined ratio-accident period basis is computed as the difference between two GAAP operating ratios: the combined ratio and the effect of prior accident periods’ loss development. The most directly comparable GAAP measure is the combined ratio. The Company believes that this ratio is useful to investors and it is used by management to reveal the trends in the Company’s results of operations that may be obscured by development on prior accident periods’ loss reserves. Combined ratio-accident period basis is meant as supplemental information and is not intended to replace combined ratio. It should be read in conjunction with the GAAP financial results. The Company has reconciled combined ratio-accident period basis with the most directly comparable GAAP measure in the table below.

MERCURY GENERAL CORPORATION AND SUBSIDIARIES

SUMMARY OF OPERATING RESULTS

(000′s except per-share amounts and ratios)

(unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2010

2009

2010

2009

Net premiums written

$ 654,686

$ 662,756

$ 1,938,261

$ 1,971,053

Revenues:

    Net premium earned

$ 642,558

$ 653,758

$ 1,925,889

$ 1,979,032

    Net investment income

35,992

35,208

108,353

109,334

    Net realized investment gains

86,439

171,373

80,770

352,549

    Other

1,761

895

5,234

3,256

         Total revenues

$ 766,750

$ 861,234

$ 2,120,246

$ 2,444,171

Expenses:

    Losses and loss adjustment expenses

440,566

446,436

1,310,797

1,336,191

    Policy acquisition costs

125,001

130,172

380,308

414,062

    Other operating expenses

63,711

53,766

191,551

158,616

    Interest

1,633

1,634

5,103

5,059

         Total expenses

$ 630,911

$ 632,008

$ 1,887,759

$ 1,913,928

Income before income taxes

$ 135,839

$ 229,226

$    232,487

$    530,243

    Income tax expense

38,990

71,489

56,642

161,406

                   Net income

$   96,849

$ 157,737

$    175,845

$    368,837

Basic average shares outstanding

54,795

54,770

54,789

54,769

Diluted average shares outstanding

54,817

55,313

54,821

55,081

Basic Per Share Data

Net income

$       1.77

$       2.88

$          3.21

$          6.73

Net realized investment gains, net of tax

$       1.03

$       2.03

$          0.96

$          4.18

Diluted Per Share Data

Net income

$       1.77

$       2.85

$          3.21

$          6.70

Net realized investment gains, net of tax

$       1.03

$       2.01

$          0.96

$          4.16

Operating Ratios-GAAP Basis

Loss ratio

68.6%

68.3%

68.1%

67.5%

Expense ratio

29.4%

28.1%

29.7%

29.0%

Combined ratio

98.0%

96.4%

97.8%

96.5%

Reconciliations of Operating Measures to Comparable GAAP Measures

Net premiums written

$ 654,686

$ 662,756

$ 1,938,261

$ 1,971,053

Change in unearned premiums

(12,128)

(8,998)

(12,372)

7,979

Net premiums earned

$ 642,558

$ 653,758

$ 1,925,889

$ 1,979,032

Paid losses and loss adjustment expenses

$ 455,670

$ 460,609

$ 1,379,387

$ 1,413,408

Change in net loss and loss adjustment expense reserves

(15,104)

(14,173)

(68,590)

77,217

Incurred losses and loss adjustment expenses

$ 440,566

$ 446,436

$ 1,310,797

$ 1,336,191



SOURCE Mercury General Corporation


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RELATED LINKS
http://www.mercuryinsurance.com

Source: http://www.prnewswire.com/news-releases/mercury-general-corporation-announces-third-quarter-results-and-increases-quarterly-dividend-106437698.html

Huntington Funds Added to Nationwide Variable Annuity Platform



























COLUMBUS, Ohio, Nov. 1, 2010 /PRNewswire/ — Huntington Funds will make the Huntington VA International Equity Fund and the Huntington VA Situs Fund available through Nationwide Financial Services’ variable annuity platform. The funds will be added to Nationwide’s variable annuity product suite beginning Nov. 1, 2010.



The Huntington VA International Equity Fund, which has a four-star overall Morningstar rating, invests in stocks of companies chosen from more than 25 countries beyond the United States. The Huntington VA Situs Fund invests primarily in small- and mid-cap companies, factoring in geographic, political or economic advantages based on the company’s location.



“We’re very pleased to be offering two of our funds to independent financial advisors nationally for the first time and even more pleased to be working with another Columbus-based company to do so,” said Dan Benhase, senior executive vice president, Huntington.  ”Our International Equity Fund is one of our top-performing funds and the Huntington Situs Fund provides advisors a unique niche that can help them diversify their clients’ investments.”



Nationwide is one of the largest diversified insurance and financial services organizations in the United States, and the eighth largest provider of variable annuities.



“Nationwide is focused on providing investment options that can help financial professionals best meet their clients’ diverse needs,” said Eric Henderson, senior vice president of Individual Investments for Nationwide Financial. “For more than 20 years we’ve teamed up with some of the most respected money managers in the business to develop comprehensive investment solutions, and these new funds continue that tradition by providing additional diversification opportunities for our clients.”



Huntington Funds



Huntington Funds are part of Huntington Bancshares, a financial institution with more than a 90-year heritage of managing money. Huntington Asset Advisors, Inc. and its affiliates have been managing money since 1917. As of December 31, 2009, Huntington Asset Advisors and its affiliates manage more than $13 billion for individuals, institutions, endowments, foundations, retirement plans, and municipalities across a six state region.  Huntington Asset Advisors is a wholly owned subsidiary of The Huntington National Bank, which is the principal subsidiary of Huntington Bancshares Incorporated, a regional bank holding company headquartered in Columbus, Ohio with $52 billion in assets.



For more information regarding Huntington Funds, please visit the funds’ website at huntingtonfunds.com.



About Huntington



Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $53 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has been providing a full range of financial services for 144 years. Huntington offers checking, loans, savings, insurance and investment services. It has more than 600 branches and also offers retail and commercial financial services online at huntington.com; through its telephone bank; and through its network of over 1,350 ATMs. Huntington’s Auto Finance and Dealer Services group offers automobile loans to consumers and commercial loans to automobile dealers within our six-state banking franchise area, as well as selected New England states.  



About Nationwide



Nationwide, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by A.M. Best. The company provides a full range of personalized insurance and financial services, including auto insurance, motorcycle, boat, homeowners, life insurance, farm, commercial insurance, administrative services, annuities, mortgages, mutual funds, pensions, long-term savings plans and health and productivity services. For more information, visit www.nationwide.com.



For more complete information, visit huntingtonfunds.com or contact your investment professional for a prospectus or summary prospectus. You should consider the fund’s investment objectives, risks, charges, and expenses carefully before you invest. Information about these and other important subjects is in the fund’s prospectus or summary prospectus, which you should read carefully before investing.



The funds are distributed by Unified Financial Securities, Inc. (Member FINRA) a wholly owned subsidiary of Huntington Bancshares, Inc. and an affiliate of Huntington Asset Advisors, Inc. the advisor to the Huntington Funds.



For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating(TM) based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive  5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics. For the overall, 3-year and 5-year time period ended 9/30/10 the Huntington VA International Equity Fund received 4, 4 and 4 stars out of 665, 665 and 476 funds, respectively. Past performance is no guarantee of future results.



© 2010 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.



International investing involves special risks including currency risk, increased volatility of foreign securities, political risks, and differences in auditing and other financial standards. Prices of emerging markets securities can be significantly more volatile than the prices of securities in developed countries and currency risk and political risks are accentuated in emerging markets.



Small company stocks may be less liquid and subject to greater price volatility than large capitalization stocks.



The logo mark and Huntington® are federally registered service marks of Huntington Bancshares Incorporated.



SOURCE Huntington Bancshares Incorporated


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RELATED LINKS
http://www.huntington.com

Source: http://www.prnewswire.com/news-releases/huntington-funds-added-to-nationwide-variable-annuity-platform-106441808.html

Texas Pedestrian Accidents Jump 22% During Halloween












Allstate Asks Texans to Avoid Texting While Treating

















IRVING, Texas, Oct. 29 /PRNewswire/ — The number of Texans hit by cars spikes an average of 22% during Halloween week when compared to the rest of the year, according to Allstate Insurance Company. The insurer looked at its Texas auto insurance claims involving pedestrians from 2003-2009 and found a jump in accidents around trick-or-treat time.



The Allstate data coincides with a report from the Insurance Institute for Highway Safety that found October 31 is the second highest pedestrian death day of the year behind Fourth of July.



Over the past two years, when Halloween fell on a weekend, the number of claims involving pedestrians hit by cars jumped even higher to 23% when compared with the rest of the year.



“With Halloween on the weekend again and with the World Series, football games and other events going on across the state, there may be even more cars on the road at night, potentially creating more dangerous situations,” said David Christopher, an Allstate agent in Texas. “Whether you’re behind the wheel or walking with your kids, it’s critical to remain alert.”



Halloween Traffic Tips:  



Don’t Text and Walk



Children and parents should focus on traffic and not texting when trick-or-treating. Have an adult or an older, responsible youth supervise children. Plan and discuss the route trick-or-treaters intend to follow.



Don’t Text and Drive



Focus on the road, not your cell phone. Neighborhoods that don’t normally have pedestrian or bicycle traffic may experience an increase in activity on Halloween. Children are excited and may forget to stop, look and listen before crossing the street.



Don’t Drink and Drive



Always designate a driver.



The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer. Widely known through the “You’re In Good Hands With Allstate®” slogan, Allstate is reinventing protection and retirement to help more than 17 million households insure what they have today and better prepare for tomorrow. Consumers access Allstate insurance products and services through Allstate agencies, independent agencies, and Allstate exclusive financial representatives in the U.S. and Canada, as well as via www.allstate.com and 1-800 Allstate®.



SOURCE The Allstate Corporation


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RELATED LINKS
http://www.allstate.com

Source: http://www.prnewswire.com/news-releases/texas-pedestrian-accidents-jump-22-during-halloween-106296288.html

Number of Californians Hit by Cars Jumps 25% On Halloween












Allstate Calls on California to not Text and Treat

















SACRAMENTO, Calif., Oct. 28 /PRNewswire/ — The number of people in California hit by cars jumps 25% on Halloween versus the rest of October according to Allstate Insurance Company. The insurer recently looked at its California auto insurance claims involving pedestrians over the past three years and found the dramatic jump in October accidents at trick-or-treat time.



“Because this Halloween falls on a weekend, there may be even more kids and cars on the road late at night, potentially creating a dangerous situation,” says Brook Daly, exclusive agent for Allstate in San Diego. “Whether driving or walking with kids during trick-or-treating, it’s important to remain alert.”



Crunching the numbers on car-pedestrian collisions in California, Allstate is adding a new twist to Halloween traffic tips—don’t text and walk. The insurer asks Californians to keep their eyes on the road whether driving or on foot, during Halloween and throughout the coming holidays. Even with Halloween‘s scary spike in car accidents involving pedestrians, December 10 is the most dangerous day of the year for Californians on foot near traffic.



Three Halloween and Holiday Traffic Tips



Don’t Text and Walk



Children and parents should focus on traffic and not texting when trick-or-treating. Keep your eyes up and have an adult or an older, responsible youth supervise children. Plan and discuss the route trick-or-treaters intend to follow.



Don’t Text and Drive



Focus on the road, not your cell phone. Neighborhoods that don’t normally have pedestrian or bicycle traffic may experience an increase in activity on Halloween. Children are excited and may forget to stop, look, and listen before crossing the street.



Don’t Drink and Drive



If you are attending a Halloween party, designate a driver. The National Highway Traffic Safety Administration reminds revelers that no costume can conceal a drunk driver.



About Allstate



The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer. Widely known through the “You’re In Good Hands With Allstate®” slogan, Allstate is reinventing protection and retirement to help more than 17 million households insure what they have today and better prepare for tomorrow. Consumers access Allstate insurance products and services through Allstate agencies, independent agencies, and Allstate exclusive financial representatives in the U.S. and Canada, as well as via www.allstate.com and 1-800 Allstate®.



SOURCE Allstate Corporation


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RELATED LINKS
http://www.allstate.com

Source: http://www.prnewswire.com/news-releases/number-of-californians-hit-by-cars-jumps-25-on-halloween-106080653.html

Recent Insurance Fraud Arrests Underscore Dilemma












Direct General Provides Key Support in Investigations Leading to Over 50 Arrests

NICB ranks Florida number one in staged accidents and auto insurance fraud
















TAMPA, Fla., Oct. 27 /PRNewswire/ — Three arrests at a Fort Myers chiropractic clinic for insurance fraud are the latest results of an on-going investigation by Direct General Insurance Company and local, state, and federal law enforcement agencies.  The undercover investigation has produced over 50 arrests in Tampa Bay and Ft. Myers over the last six-months.  Direct General expects more arrests in the future, but acknowledges it’s a drop in the bucket in solving Florida‘s auto insurance fraud dilemma.



John Askins, director of Florida Division of Insurance Fraud (DIF) commented on the arrests and the status of insurance fraud, “These arrests are a result of outstanding cooperation between the insurance industry and law enforcement.  The public needs to know how insidious and blatant Personal-Injury-Protection insurance fraud has become in Florida,” Askins said.



In May, the National Insurance Crime Bureau (NICB) announced that Florida ranked number one among states for the number of staged accidents and auto-insurance fraud.  Tampa, Orlando, Miami, West Palm Beach and Hialeah were ranked second, fourth, fifth, seventh, and tenth worst cities in the nation by NICB, respectively.



Late last week, three employees of the Fort Myers Chiropractic Center were charged with insurance fraud. The investigation alleges the three employees forged over $10,000 worth of patient treatment at the center.  The dates of the alleged patient treatments conflicted with the six-week period where the patient was actually in jail for unrelated charges.



“Direct General has taken a ‘zero tolerance’ policy toward staged accidents and auto insurance fraud, which have reached epidemic proportions in Florida. The arrests in the Ft. Myers case show how brazen alleged perpetrators have become in breaking Florida law,” said Jim Sclafani, Direct General’s chief claims officer. “These arrests are very significant, but they are only treating the symptom. We need public policy remedies that will give law enforcement an edge in curtailing and dismantling these organized rings across the state.”



Sclafani praised the Florida Division of Insurance Fraud for acting decisively in the Ft. Myers case. “The partnership forged between Direct General and DIF gives us a better chance to protect the public and our customers from criminals operating in Florida. We’ll continue to bring perpetrators of insurance fraud to justice,” said Sclafani.



About Direct General Insurance Company



Direct General Insurance Company is a wholly owned subsidiary of Direct General Corporation, a Nashville, Tennessee-headquartered insurance holding company that offers non-standard personal automobile insurance, motorcycle insurance, premium financing services and other insurance and non-insurance products, all through its family of companies. Direct General Insurance Company writes and sells auto insurance policies in Florida under the Florida No-Fault Auto Insurance and Cash Register Insurance brands through nearly 100 affiliated retail storefronts statewide.



SOURCE Direct General Insurance Company


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Source: http://www.prnewswire.com/news-releases/recent-insurance-fraud-arrests-underscore-dilemma-105863498.html

Infinity Property and Casualty Corporation to Announce Third Quarter 2010 Results



























BIRMINGHAM, Ala., Oct. 25 /PRNewswire-FirstCall/ — Infinity Property and Casualty Corporation (Nasdaq: IPCC) expects to release its third quarter 2010 results on Thursday, November 4, 2010 before the market opens.  The earnings release will be available shortly thereafter on Infinity’s website at http://www.infinityauto.com.



In connection with its earnings release, Infinity will hold a conference call to discuss the third quarter 2010 results on Thursday, November 4, 2010 at 11:00 am ET.  There are two alternative communication modes available to listen to the call.  Telephone access will be available by dialing 1-888-679-8018 and providing the confirmation code 83929591.  Please dial in 5 to 10 minutes prior to the scheduled start time.  You may also pre-register for the conference call.  By pre-registering, you will be provided immediate access to the call on November 4, without waiting in queue to speak with an operator.  To pre-register and obtain a PIN number, please go to https://cossprereg.btci.com/prereg/key.process?key=PAXY4DKP7 and fill out the brief registration form.  The conference call will also be broadcast live over the Internet.  To listen to the call via the Internet, go to Infinity’s website, http://www.infinityauto.com, click on Investor Relations and follow the instructions at the webcast link.  A replay of the conference call will be available one hour following the completion of the call, at around 2:00 pm ET and will run until 8:00 pm ET on Thursday, November 11, 2010.  To listen to the replay, dial 1-888-286-8010 and provide the confirmation code 52870961.  The archived webcast will be available on Infinity’s website for one year.



Infinity Property and Casualty Corporation is a national provider of personal automobile insurance with a concentration on nonstandard auto insurance.  Its products are offered through a network of approximately 12,600 independent agencies and brokers.  For more information about Infinity, please visit http://www.infinityauto.com.



SOURCE Infinity Property and Casualty Corporation


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Source: http://www.prnewswire.com/news-releases/infinity-property-and-casualty-corporation-to-announce-third-quarter-2010-results-105717838.html

American Family Insurance and MTV Team Up to Get Teens and Parents Talking About Driving Risks












AFI’s Teen Safe Driver Program Reveals How a ‘Backseat Driver’ Might Help Save the Lives of Young Drivers and the People Around Them

















MADISON, Wis., Oct. 25 /PRNewswire/ — American Family Insurance, Mindshare and MTV are expanding efforts to help teen drivers stay safe and alive through an integrated marketing campaign that includes affiliations with two MTV-produced series.



The campaign features American Family’s Teen Safe Driver program, which recently earned the National Safety Council’s Teen Driving Safety Leadership Award for its contributions to preventing crashes, injuries and deaths involving teen drivers.



“More teens die in car accidents than any other cause in this country, and we need to continue to look for ways to raise awareness and reduce these tragedies,” said Lisa Bacus, American Family vice president of Marketing.



“This campaign addresses the issue at the foundation, creatively reaching out to young drivers and their parents to have conversations that can be life-savers in the formative driving years.”



The efforts mark the second consecutive year that American Family, Mindshare and MTV have partnered to reduce teen crashes.  They follow last year’s “Road to the Woodies” campaign, featuring a Nebraska teen as she participated in a series of challenging road tests in hopes of winning a trip to MTV’s Woodie Awards.  Episodes included video and audio footage of the teen’s performance using American Family’s Teen Safe Driver in-car camera.  



Elements of this year’s campaign include:



Road Trip Adventure micro series: This six-part co-branded entertainment micro-series began airing in mid-October as a podbuster during the second season of MTV’s The Buried Life. The micro series follows three friends as they embark on a road trip across America to scratch things off of their bucket list.  

Parts of the series will be filmed with the Teen Safe Driver in-car camera so viewers can see how these young drivers naturally confront challenging driving situations and handle them responsibly and safely.

The micro-series includes five original episodes, while the sixth is a recap of the season that will also run during additional MTV programming to drive people online to watch.

In addition to the micro-series, a PSA featuring The Buried Life cast highlights tips about how to stay safe on the road.  At the end of the PSA, viewers are directed online to amfam.mtv.com to check out the Road Trip Adventure episodes, behind the scenes footage, and enter a sweepstakes for a chance to win $5,000 by signing American Family’s Teen Safe Driver pledge.




The Ride reality series: A second element of the campaign is a branded integration with MTV2′s upcoming reality series The Ride, which features eight high school quarterbacks as the participate in a training camp with NFL coaches.  A winner is selected to play in a national high school all-star game, the U.S. Army All American Bowl, to be broadcast on NBC on Jan. 8.  

American Family will sponsor the “Safety Zone” confessional, during which coaches talk to the players about their performance on the field – and in one episode talk to them about their responsibilities behind the wheel.

In addition to the quarterback competition, high school band members compete for a spot on the All American Band.  As each member is selected, a pep rally is thrown for the football and band members chosen to participate.  American Family is onsite this fall at those schools in the 19 states where it operates, raising awareness for the MTV programs and encouraging teens to take the pledge.




“Our partnership with American Family Insurance provides us with a unique opportunity to create innovative and proprietary multi-platform co-branded campaigns that connect with millennial viewers” said Dan Lovinger, senior vice president, MTV Sales and Integrated Marketing.  



“By using The Buried Life as a creative launch pad, we were able to develop Road Trip Adventure into a custom micro-series that fits contextually within the program environment and, ultimately, helps spread the word about the importance of teen driver safety.”



About The Teen Safe Driver Program



More than 9,000 families have enrolled in the Teen Safe Driver program, decreasing risky driving behavior by more than 70 percent. Introduced in 2007 in association with DriveCam Inc., Teen Safe Driver Program is available at no cost to American Family auto insurance customers who have beginning drivers in their household.



The program provides teens and their parents an in-vehicle video and audio unit that captures risky driving behaviors. Parents log in to www.teensafedriver.com to view the driving report card, video events and coaching tips, including objective, third-party assessment of the teen driver’s driving performance compared with other teens.



About American Family Insurance



Based in Madison, Wis., American Family Insurance offers auto, homeowners, life, health, commercial and farm/ranch insurance in 19 states. American Family ranks 344th on the Fortune 500 list and is the nation’s third-largest mutual property/casualty insurance company.



SOURCE American Family Insurance


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http://www.teensafedriver.com

Source: http://www.prnewswire.com/news-releases/american-family-insurance-and-mtv-team-up-to-get-teens-and-parents-talking-about-driving-risks-105687813.html

21st Century Insurance Uses the Best in Project Management to Help Ensure Bright Future



























—Company receives 2010 PMI® Distinguished Project Award—



NEWTOWN SQUARE, Pa., Oct. 22 /PRNewswire-USNewswire/ — While stories about corporate difficulties and their impact on jobs have received a great deal of attention since 2008, less well-known are the stories of success brought about by companies who have moved aggressively to transform themselves to improve their future standing in the marketplace.  One company that effectively re-oriented itself – Wilmington, DE–based 21st Century Insurance, a member of the Farmers Insurance Group® – has been selected as a winner of the Project Management Institute’s (PMI®) Distinguished Project Award for successfully implementing best-of-class project management concepts, techniques, practices or theories through the effective application of project management principles.  The award was presented today to 21st Century Insurance in a ceremony held at the company’s Wilmington headquarters.



Led by a dedicated group of talented-leaders from a number of business units, including those who hold the Project Management Professional (PMP®) designation, the project management team at 21st Century Insurance implemented the “Day 1 Separation” project that evolved into a blueprint that one team leader described as “…the beginning of our future.”



The Day 1 Separation Project was critical to preparing 21st Century Insurance for purchase by Farmers. The team had to decouple hundreds of systems and business processes in just 90 days.  With this self-imposed deadline, 21st Century turned to A Guide to the Project Management Body of Knowledge (PMBOK® Guide) — Fourth Edition as its foundation for project management, becoming the latest organization to rely on this globally recognized standard.  21st Century was tasked with severing hundreds of systems and procedures and aligning them with Farmers, all while complying with the insurance rules and regulations imposed by each of the 48 states it operated within, and without interrupting service to its stakeholders and customers.  



“This project was the most critical one we have ever completed, for it meant the literal future of the company and it has become a part of our history,” said Tony DeSantis, president at 21st Century. “It involved an unprecedented scope and scale to be achieved under an accelerated, self-imposed time schedule.  By staying on schedule, in scope and within budget, while using the PMI framework for effective project management, we not only met Farmers requirements but continued providing uninterrupted service to our stakeholders and customers in 48 states.  We are extremely honored to have been named a recipient of the Distinguished Project Award.”  



Various 21st Century business units pulled together resources from all areas of the enterprise in order to lead the project. Much of the success can be attributed to an internal talent pool of PMPs, the most widely recognized credential for project managers, who were able to rely on a body of knowledge, tools and techniques in Project Management.  The team leveraged the rigorous application of the (PMBOK®) Guide to handle the project’s aggressive size, scope, timeline, and risk.  The team relied on daily meetings to address and control project obstacles. Any issues were analyzed through detailed risk assessments and interviews. A scope management plan assessed environmental factors, including key influencers that affected the timeline and a five step plan was adopted to manage the scope of the work.  The project managers monitored the project results closely to ensure that they were compliant with the pre-defined requirements, which included security and IT standards. They communicated progress and results to all stakeholders.



“The Day 1 Separation Project completed by 21st Century is a model of exemplary project management efforts and it is most deserving of this award,” said Mark Langley, executive vice president and chief operating officer of PMI.  ”Their work underscores how project management industry standards and discipline can help enable fiscal solvency and job stability and how a set of credentialed people can make the difference in successful execution and outcomes on any given project.”  



For more information on PMI and the Distinguished Project Award, visit www.pmi.org.



About 21st Century



21st Century Insurance is a trade name for a leading group of direct-to-consumer auto insurers in the United States. 21st Century is dedicated to providing customers with excellent coverage and award-winning service and helping them save on auto insurance. Insuring over 2 million vehicles across 49 states and Washington, D.C., 21st Century is also a proud part of the Farmers Insurance Group of Companies®, the third largest personal lines insurer in the country. For more information, visit http://www.21st.com/ or call 1-877-310-5687 for a quote.



About Farmers Insurance Group



Farmers Insurance Group of Companies is the country’s third-largest insurer of both private Personal Lines passenger automobile and homeowners insurance, and also provides a wide range of other insurance and financial services products. Farmers operates primarily in 41 states across the country through the efforts of approximately 20,000 employees. Farmers exclusive and independent agents, along with Farmers employees, are responsible for servicing more than 15 million customers.



About Project Management Institute (PMI)



PMI is the world’s largest project management member association, representing more than half a million practitioners in over 185 countries. As a global thought leader and knowledge resource, PMI advances the profession through its global standards and credentials, collaborative chapters and virtual communities and academic research. When organizations invest in project management, supported by PMI, executives have confidence their important initiatives deliver expected results, greater business value and competitive advantage. Learn more at www.pmi.org.



SOURCE Project Management Institute


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Source: http://www.prnewswire.com/news-releases/21st-century-insurance-uses-the-best-in-project-management-to-help-ensure-bright-future-105517108.html

H.E.A.T. Celebrates 25 Years of Auto Theft Prevention












Law Enforcement, Auto Insurers and Community Leaders Honor Achievements at 25th Anniversary Breakfast

















LIVONIA, Mich., Oct. 21 /PRNewswire/ — H.E.A.T. (Help Eliminate Auto Thefts) marked its 25th anniversary today with a breakfast celebration and awards ceremony.  Michigan Supreme Court Justice Robert P. Young, Jr. delivered the event’s keynote address before an audience of roughly 200 government officials, law enforcement personnel and representatives from the insurance industry.



H.E.A.T. is Michigan‘s statewide auto theft prevention program.  H.E.A.T. coordinates citizen action with law enforcement agencies through a confidential, 24/7, toll-free tip line (1-800-242-HEAT) and website (www.1800242HEAT.com) for reporting information on auto theft-related crimes.  To date, H.E.A.T. has received more than 8,500 tip calls, which have to lead to the recovery of more $52 million in stolen property.  As a result, nearly 3,500 suspects have been arrested and more than 2,000 tipsters have been awarded approximately $3.5 million.



Justice Young spoke to the crowd about H.E.A.T.’s accomplishments over the past 25 years and how, through H.E.A.T., the partnership between law enforcement agencies, insurance companies and Michigan residents has made a measurable impact on communities statewide.



“The H.E.A.T. program is an excellent example of how public agencies and private companies can work together to produce positive results in our state,” said Young.  ”This partnership has become essential in the fight against the socioeconomic costs associated with auto theft-related crime, making our neighborhoods, communities and our state a better place to live.”



“Over the past 25 years, H.E.A.T. was worked to not only keep neighborhoods safe, but to provide economic stability for Michigan residents through lower insurance rates and tip-line payouts,” said Terri Miller, Director of H.E.A.T.  ”Today is a celebration of all of our partners who, by working together, are making our communities stronger.”



H.E.A.T. presented several awards at the event, including the prestigious William V. Liddane



Award, the Director’s Award and the H.E.A.T. Investigator of the Year Awards.  The



Liddane Award recognizes an individual who has demonstrated an outstanding commitment to the fight against auto theft in Michigan.  The H.E.A.T. Investigator of the Year and Director’s Awards honor law enforcement and others for their tenacity and hard work in auto theft investigation, arrest, recovery and prevention.  This year’s award recipients are:



WILLIAM V. LIDDANE AWARD



  • Lt. Bill Darnell – Western Wayne Auto Theft

H.E.A.T. INVESTIGATOR OF THE YEAR AWARDS



  • Officer Michael DavisDetroit Police Department

  • Hamtramck Police Department


    • Inv. Greg Collins
    • Inv. Glenn Kay

  • Genesee Auto Investigative Network


    • Lt. Kevin Shanlian
    • Deputy Sgt. Sharon Dunbar
    • Deputy Sgt. Todd Beard
    • Det. Todd Johnson

H.E.A.T. DIRECTOR’S AWARD



  • Walt Herndon – Herndon & Associates

About H.E.A.T.



H.E.A.T. works with Michigan law enforcement agencies to follow-up on tips.  Tipsters are awarded up to $1,000 if the tip leads to the arrest and prosecution of a suspected car thief or a person suspected of auto theft-related insurance fraud.  Rewards of up to $10,000 are issued if a tip results in the arrest and binding over for trial of a suspected theft ring or chop shop operators.  H.E.A.T. rewards up to $2,000 for information leading to the issuance of a warrant for a carjacking suspect.  The H.E.A.T. tip line is monitored by the Michigan State Police and funded by Michigan‘s auto insurance companies.



Follow us on Facebook: www.facebook.com/HelpEliminateAutoThefts



SOURCE Help Eliminate Auto Thefts


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http://www.1800242HEAT.com

Source: http://www.prnewswire.com/news-releases/heat-celebrates-25-years-of-auto-theft-prevention-105440133.html