(PRNewsChannel) / October 21, 2008 / Los Angeles, Calif. / The sudden and dramatic default of insurance giant AIG has raised a red flag for consumers. “Now they’re wondering just how solid and solvent their own coverage is, and they’re worried,” said Eric Oster, President and CEO of the Insurance Bureau.
Traditionally, insurance companies and policies – from h ealth and life, to auto coverage – have been a stable port for families and businesses. “But in these current troubled economic times, with fear of recession and depression, and insurance carrier credibility at an all-time low, consumers are worried,” Oster explained.
“They’re worried about losses which could lead to a financial disaster if claims are not paid,” Oster continued. “And, they’re worried about their premiums and what all of this will mean in terms of budgets and costs.”
The Insurance Bureau’s independent website, www.InsuranceBureau.com, is the nation’s leading insurance watchdog. Consumers can log-on without cost or obligation and check the latest AM Best’s Ratings of their insurers right on-line. “This service gives consumers power, because they can see when their carrier’s ratings drop, as many have, to as low as Class B or worse,” Oster explained. “That gives them the information they need to make a smart financial decision.”
About InsuranceBureau.com: InsuranceBureau.com is a trusted online source for free insurance quotes and credible, reader-friendly industry information. Consumers can also use the site to browse an extensive library of articles on obtaining the most optimal insurance policies for personal and professional needs. InsuranceBureau.com covers all types of insurance, including auto, home, health, life, business, long-term care (LTC), disability, annuity, and renters insurance.
For information: http://www.insurancebureau.com or
Contact: eoster@itsolinc.us
Phone: (800) 647-2164
Contact: Eric Oster
Phone: (800) 647-2164
Fax: (866) 380-0219
http://www.insurancebureau.com
EDITORS: Mr. Oster is available for interviews to discuss current insurance industry trends and practices, as well as insurancebureau.com operations and benefits. Please contact John Juneau at 310-320-8832 ext. 202 to arrange an interview.
Source: InsuranceBureau.com