Insurance News

Posts Tagged ‘Credit

Chester, UK, February 24, 2011 (Insurance Headlines) February 25, 2011– Consumers with high interest-bearing debts can find relief by consolidating their balances to MBNA?s exclusive online credit card and enjoy a lower long-term rate.

The MBNA Rate for Life credit card offers a promotional rate of 5.9% and a low handling fee of 1.5% on all balance transfers and money transfers made within the first 60 days of opening an account, and Read the rest of this entry »

You’re planning on buying a house in a few months and want to do everything possible to raise your credit score before you apply for a mortgage. What are the three most important things you can do today for a higher credit score tomorrow?

[Click here to check current credit card offers, including rates and terms.]

That’s the question I asked Fair Isaac, the company that created the most popular credit score, the FICO score. And if Read the rest of this entry »

The Internal Revenue Service has updated its Web site to provide information to small employers regarding the new tax credit for providing health coverage.

The new Web pages include a graphic to help employers quickly determine if they qualify for the credit; scenarios that explain how much certain businesses and exempt organizations would benefit from the credit; tax tips on taking the credit, and a set of questions and answers.

The IRS Read the rest of this entry »

NEW YORK (AP) — Now, thanks to a long-awaited law that goes into effect Monday, you’ll know that if you pay the minimum on a $3,000 balance with a 14 percent interest rate, it could take you 10 years to pay off.

“Jaws will drop,” said David Robertson, publisher of The Nilson Report, a newsletter that tracks the industry. “I don’t doubt for a nanosecond that it’s going to give a lot of people a sinking feeling in their stomachs.”

Read the rest of this entry »

A Senate bill in the Washington State Legislature to ban credit-based insurance scoring failed to come to a vote on the Senate floor before a deadline for moving legislation expired.

The demise of the Senate measure came weeks after a similar bill in the House died in committee.

Both bills were introduced at the request of State Insurance Commissioner Mike Kreidler.

Kenton Brine, assistant vice president, Northwest region Read the rest of this entry »

SAN FRANCISCO ?The National Association of Insurance Commissioners Property & Casualty Committee chairman said the panel will begin exploring how to gather data on insurers’ use of credit information to determine premiums.

The committee would like to collect information and develop a report on the controversial credit scoring issue by the third quarter of 2010, according to Illinois Insurance Director and Committee Chair Michael Read the rest of this entry »

Credit rating agencies, accused of assigning top ratings to shoddy securities, would be exposed to greater liability under a wide-ranging financial services reform bill released by a leading U.S. senator.

The draft bill unveiled last Tuesday would give investors an easier way to sue firms like Moody’s Corp., Standard & Poor’s and Fitch Ratings, if they knowingly and recklessly failed to investigate or obtain analysis from an independent Read the rest of this entry »