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Study: More Drivers Canceling or Reducing Insurance Coverage

WASHINGTON - In response to the current economy, nearly 20 percent of drivers on the road have reduced or canceled their car insurance coverage for immediate financial relief, according to a newly released survey from the National Association of Insurance Commissioners (NAIC).

New Allstate Discount Program Uses Telematics

ROANOKE, VA - In the latest sign of how "pay as you drive" programs using telematics are changing the auto insurance industry, Allstate Insurance Co. has launched a new voluntary program called Drive Wise. The program uses a monitoring device to reward safe and low-mileage Illinois drivers with discounts of up to 30 percent.

Calif. Approves 'Pay-as-You-Drive' Insurance

SACRAMENTO, CA - The California Department of Insurance has given the green light to two insurance companies -- State Farm and the Automobile Club of Southern California -- seeking state approval to begin offering "pay-as-you-drive" auto policies. The policies offer lower rates for coverage of motorists who drive fewer miles.

Allstate Agrees to $10 Million Settlement

NEW YORK - Allstate has agreed to pay New York $1.2 million as part of a $10 million regulatory settlement, New York State Insurance Superintendent James J. Wrynn announced.

IIHS Releases Car Insurance Loss Data

ARLINGTON, VA - The Insurance Institute for Highway Safety (IIHS) has released data showing insurance losses for hundreds of passenger vehicles. The vehicles are grouped by body style and size under six types of insurance coverage: collision, property damage liability, comprehensive, personal injury protection, medical payment and bodily injury.

NY Insurers Can Settle Claims With Preloaded Credit Cards

ALBANY, NY --- Attorneys with the New York Insurance Department have released a written opinion confirming that insurance companies in the state have the right to pay claims by issuing debit or preloaded credit cards to claimants instead of conventional settlement checks.

Hawaii Sees Spike in Auto Insurance Fraud Convictions

HONOLULU --- Hawaii saw a 61 percent increase in criminal convictions for insurance fraud in 2008, according to the Insurance Fraud Investigation Unit of the state's Department of Commerce and Consumer Affairs (fraud unit).

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