A Burien, Wash. auto glass company owner has been charged with three counts of first-degree theft for a billing scheme that’s believed to have cost insurers more than $1.5 million.
Charges against Michael Alan Perkins, 43, were filed Thursday in King County Superior Court. Perkins is the owner of Autoglass Express Inc. and Premier Auto Glass, LLC., which are run out of Perkins’ Burien home. The glass shops are suspected of overbilling State Farm, Allstate and MetLife insurance companies.
An investigation by the state insurance commissioner’s office found 4,840 instances in which the company told insurers that higher-priced Original Equipment Manufacturer (OEM) glass had been installed, when workers were actually installing lower-cost aftermarket glass.
State Insurance Commissioner Mike Kreidler’s anti-fraud Special Investigations Unit, which spent months combing through more than 10,000 records, found $1,520,234 in deceptive billing by Perkins’ companies between September 2005 and December 2009.
“We found instances in which companies paid full price for car windows that actually came from auto wrecking yards,” said Kreidler. “One company was billed more than $1,000 for a Toyota windshield that actually cost $92.”
Click here to read more.
Jumat, 30 Juli 2010
Kamis, 29 Juli 2010
Study suggests that unusual paint colors on cars are an effective deterrent to theft
If you want to deter car thieves, get a car with an unusual color. So says the Family Home Security blog, citing a study out of the Netherlands.
Here's the theory: since thieves value quick resale of a stolen car, look for colors that are unusual, like pink. In the cited study, black and silver were the two most-stolen colors. The researcher suggested that an uncommon car color, if you can put up with it, might be at least as good a deterrent as an expensive car alarm.
Here's the theory: since thieves value quick resale of a stolen car, look for colors that are unusual, like pink. In the cited study, black and silver were the two most-stolen colors. The researcher suggested that an uncommon car color, if you can put up with it, might be at least as good a deterrent as an expensive car alarm.
Senin, 26 Juli 2010
WA insurance enforcement actions: $30k in fines against insurers, a dozen agents & brokers disciplined
In the second quarter of 2010, the Washington state insurance commissioner's office:
- levied more than $30,000 in fines against insurance companies for violations including improper rate-setting
- ordered several companies to stop selling illegal insurance,
- and disciplined a dozen agents and brokers for violations including diverting premium dollars for personal use.
Katrina, five years later: "The costliest disaster in the history of the global insurance industry"
Five years after Hurricane Katrina slammed into Louisiana, leaving much of New Orleans underwater, the Insurance Information Institute, an industry-funded group, has put out a white paper detailing statistics from the disaster.
Some of the findings:
"Ultimately, insurers won virtually every major case that was filed against them post-Katrina, establishing or reaffirming important legal precedent in each instance."
To read the full III report, click here.
Some of the findings:
- Private-sector insurers paid out more than $41 billion on 1.7 million auto-, home- and business insurance claims, making Katrina "the costliest disaster in the history of the global insurance industry."
- The federal government's National Flood Insurance Program paid out an additional $16.1 billion in claims, "a dollar amount higher than what the NFIP paid to all of its claimants combined between 1968 and 2004."
- And private-sector insurers paid between $2 billion and $3 billion in Katrina-related offshore energy facility claims.
"Ultimately, insurers won virtually every major case that was filed against them post-Katrina, establishing or reaffirming important legal precedent in each instance."
To read the full III report, click here.
Jumat, 23 Juli 2010
Senate passes bill that includes $44 million to help repair Washington's Howard Hanson Dam
The U.S. Senate has unanimously passed an emergency supplemental appropriations bill that includes $44 million for critical repairs to the Howard Hanson Dam in south King County.
The bill now goes to the U.S. House of Representatives for consideration.
The U.S. Army Corps of Engineers last winter announced that it needed to keep water levels behind the dam lower than normal due to a weakened earthen abutment on one side of the dam. That, in turn, made it more likely that the heavily developed area below the dam would be flooded during periods of high winter rains.
As a result, businesses in the area reportedly had a hard time finding affordable insurance -- or in some cases, any insurance -- for flood damage. And the area is full of manufacturing facilities, warehouses and other sites that would suffer serious losses in a major flood.
The good news: the flooding didn't happen, and the Corps and contractors have worked to strengthen the abutment in recent months. The risk of serious flooding, last year pegged by the Corps at 1 in 3, is now believed to be down to 1 in 33. Still, that's still higher than normal for the area.
Our office, meanwhile, has worked closely with dozens of insurers to form a flood "market assistance plan," which tries to link insurers selling coverage with businesses needing it. The project has just launched, and is taking applications.
The bill now goes to the U.S. House of Representatives for consideration.
The U.S. Army Corps of Engineers last winter announced that it needed to keep water levels behind the dam lower than normal due to a weakened earthen abutment on one side of the dam. That, in turn, made it more likely that the heavily developed area below the dam would be flooded during periods of high winter rains.
As a result, businesses in the area reportedly had a hard time finding affordable insurance -- or in some cases, any insurance -- for flood damage. And the area is full of manufacturing facilities, warehouses and other sites that would suffer serious losses in a major flood.
The good news: the flooding didn't happen, and the Corps and contractors have worked to strengthen the abutment in recent months. The risk of serious flooding, last year pegged by the Corps at 1 in 3, is now believed to be down to 1 in 33. Still, that's still higher than normal for the area.
Our office, meanwhile, has worked closely with dozens of insurers to form a flood "market assistance plan," which tries to link insurers selling coverage with businesses needing it. The project has just launched, and is taking applications.
Senin, 19 Juli 2010
Insurance news this morning: health care reform, car rental insurance, and a lawsuit over an agent's alleged statements at an insured's funeral
Kaiser Health News has a good roundup of weekend stories re: health care reform.
NY Times editorial: Reform moves ahead
AP: Abortion foes win a round in health overhaul
Healthcare.gov has put out detailed information on preventative care, which will soon be covered without a copay, co-insurance or deductible.
Other topics:
CBS Moneywatch has an article on "Why you should buy rental car insurance"
And then there's this, out of Los Angeles:
Grieving widow says insurance agent stunned her and her family
NY Times editorial: Reform moves ahead
AP: Abortion foes win a round in health overhaul
Healthcare.gov has put out detailed information on preventative care, which will soon be covered without a copay, co-insurance or deductible.
Other topics:
CBS Moneywatch has an article on "Why you should buy rental car insurance"
And then there's this, out of Los Angeles:
Grieving widow says insurance agent stunned her and her family
Jumat, 16 Juli 2010
A cell phone infraction while driving in WA does NOT affect your insurance rates (but don't do it)
We've been fielding some questions today about cell phones and driving in Washington state, due to an apparent glitch in enforcing the new law. In some cities, cited drivers are reportedly having their infractions voided due to the glitch.
All of which leads to the logical question: What if people's insurance rates went up as a result?
The good news: They didn't. The state's cell phone law was updated earlier this year to make driving while talking on a cell phone a primary offense. (That means you can be pulled over for that alone.) But the law includes sections explicitly stating that:
Still, know this: If you're gabbing on the phone and cause an accident, that could be a very different story.
Our advice: follow the law. Put the cell phone down.
All of which leads to the logical question: What if people's insurance rates went up as a result?
The good news: They didn't. The state's cell phone law was updated earlier this year to make driving while talking on a cell phone a primary offense. (That means you can be pulled over for that alone.) But the law includes sections explicitly stating that:
Infractions under this section shall not become part of the driver's record under RCW 46.52.101 and 46.52.120. Additionally, a finding that a person has committed a traffic infraction under this section shall not be made available to insurance companies or employers.The upshot: Your insurance rates won't go up for a cell phone violation while driving.
Still, know this: If you're gabbing on the phone and cause an accident, that could be a very different story.
Our advice: follow the law. Put the cell phone down.
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