General Insurance in Australia Industry Market Research Report Now Updated by IBISWorld


Melbourne, Australia (PRWEB) March 22, 2013

The General Insurance industry provides protection to individuals, households and businesses from the financial loss associated with events such as car accidents, floods, break-ins and medical malpractice. General insurers provide this coverage at a fraction of the potential loss by spreading risk. The industry earns revenue from the sale of insurance policies (premium income) and the investment of premium reserves in bonds, stocks and other assets (investment income).

According to IBISWorld industry analyst Ee Jen Lee, over 95% of the industry’s premium income is derived from the renewal of policies that relate to existing risk, with the rest reflecting a change in risk exposure or pricing conditions.

Policy pricing alternates between softening (price declines) and hardening (price increases). A hard market will generally produce growth in premium revenue without a change in coverage.

Australia’s General Insurance industry is expected to generate revenue of $ 63.9 billion during 2012-13, a 5.1% rise on 2011-12. Gross premium income will reach $ 51.3 billion, up 3.6% year on year.

As the economy recovers, consumers’ ability to insure cars, home and contents will increase, as will the value of insurable items, says Lee.

The modest gain in premium income will also be driven by higher prices. This will occur as general insurers pass on increased reinsurance costs and look to strengthen balance sheets.

For the five years through 2012-13, industry revenue is expected to have increased at a compound annual rate of 5.6%, accentuated by the weak base year in 2007-08. With investment markets expected to strengthen as the global and local economies accelerate, the future looks more promising for the General Insurance industry.

Industry consolidation is likely to continue over the next five years, with large players such as Insurance Australia Group Limited, QBE Insurance Group Limited, Suncorp Group Limited and Allianz Australia Group Limited expected to acquire many of the industry’s minor players.

For more information, visit IBISWorlds General Insurance report in Australia industry page.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau

IBISWorld Industry Report Key Topics

This industry covers general insurers and reinsurers. General insurers underwrite insurance policies to protect individuals and businesses from the financial loss associated with property, casualty, liability and other risks. Underwriting involves assuming risks and assigning premiums. Reinsurers assume all or part of the risk associated with existing insurance policies originally underwritten by other insurers.

Industry Performance

Executive Summary

Key External Drivers

Current Performance

Industry Outlook

Industry Life Cycle

Products & Markets

Supply Chain

Products & Services

Major Markets

International Trade

Business Locations

Competitive Landscape

Market Share Concentration

Key Success Factors

Cost Structure Benchmarks

Basis of Competition

Barriers to Entry

Industry Globalisation

Major Companies

Operating Conditions

Capital Intensity

Technology & Systems

Revenue Volatility

Regulation & Policy

Industry Assistance

Key Statistics

Industry Data

Annual Change

Key Ratios

About IBISWorld Inc.

Recognised as the nations most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.







Rental Car Insurance Rates Added to Comparison Tool at Auto Company Website


Houston, TX (PRWEB) July 23, 2014

Short or long-term plans for various insurance products can now be reviewed electronically while using the Quotes Pros website online. A new supply of rental car insurance rates can be explored by any person who is seeking this form of coverage at http://quotespros.com/auto-insurance.html.

American drivers who are able to input a zip code that is linked to a U.S. city can use the available system to find rental automobile coverage rates. Because rates are calculated based on locations, no system user enters data like a mailing address or vehicle identification number upon system entry.

“An assortment of rates are offered when using our system to help drivers find a full coverage or liability policy for any rental car rented in the USA,” a Quotes Pros rep said.

The comparison system that is open for usage from the QuotesPros.com company has been programmed to generate most types of insurance costs.

The providers existing inside the system are capable of offering more than one plan for coverage and this has expanded the system to providing rental, liability, full coverage and risk level insurance plans.

“Someone who uses our insurer system network to find a local or national price can select between a number of policy types that insurers are offering based precisely on a zip code,” the rep confirmed.

The Quotes Pros company is continuing to support American consumers who plan to conduct insurance research on the Internet. The automotive plan providers that are accessible are currently mixed in with the providers of health, renters and homeowner plans that are also available to explore at http://quotespros.com/renters-insurance.html.

About QuotesPros.com

The QuotesPros.com company supplies a direct source of pricing information to consumers who use its website to find insurance industry coverage data. The company supplies a calculated price quote by way of each insurer that exists in the platform used to distribute price data. The QuotesPros.com company has improved the features that are found free of charge inside of its search system and now supplies health, life, auto and renter policy rates direct to the American public.







10 Reasons Americans Keep Falling Back Into Debt


Falmouth, ME (PRWEB) June 30, 2014

Even though the Great Recession forced most U.S. households to tighten their belts, many Americans still face large amounts of unwanted personal debt.

Some people have mortgages they cant afford, others grapple with student loans, and countless individuals deal with recurring credit card debt year after year.

Its easy to pinpoint the cause of debt if there were circumstances beyond your control, like job loss or large medical bills due to a serious illness or injury, says Judy Sorensen, president of the Association of Credit Counseling Professionals (ACCPros).

But whats less obvious to many Americans is why they keep falling back into debt because of their own financial mistakes.

According to Sorensen, here are 10 possible reasons you might find yourself repeatedly struggling with unmanageable debt.

1.

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Coverage Pro Insurance Launches Interactive Virtual Insurance Office and Accompanying Digital Marketing Initiative


Melbourne, FL (PRWEB) October 25, 2011

The agencys innovative website, http://www.mycoveragepro.com/, was created to make the overall online shopping experience not only easier, but more educational and intuitive. The site is divided into clear product categories, making it nearly effortless for its Florida insurance shoppers to find exactly the type of insurance they are looking for and better yet, allows the visitor to take a much more proactive approach to better understanding his or her insurance policy options.

Perhaps a prospect is searching for affordable Florida automobile insurance, comprehensive home coverage or a dependable Florida business insurance package well then rest assured; Coverage Pro Insurance has insurance shoppers covered! Whether simply shopping around or have particular questions regarding one’s current policy, http://www.mycoveragepro.com/ provides current and prospective customers with multiple means of contacting the agency. Fill out a free quote form, get social with the insurance experts on various social media sites or simply give them a call at 877-491-8723.

Coverage Pro Insurance aims to make the insurance shopping process as simple as possible for its customers across the state. The agency it thrilled to move forward with the initiation of its modernized digital marketing strategy and has high expectations for the ease it will bring to its Florida consumers.

Coverage Pro Insurance has partnered with Astonish Results, LP an insurance agency marketing and training company that specializes in modernizing the independent insurance industry, to create a ground-breaking new online marketing campaign. This bold new marketing strategy features an interactive Virtual Insurance Office and custom Virtual Insurance Agent, which are meant to increase consumer engagement as well as provide the visitor with a more personalized and educational experience. The Astonish Results campaign is also intended to help Coverage Pro Insurance both find and keep new, prospective customers; allowing the Florida insurance agency to successfully grow its book of business.

About Coverage Pro Insurance:

Coverage Pro Insurance has brought security and peace of mind to thousands of policyholders by offering quality coverage that meets the customer’s specific needs. At Coverage Pro, the team operates more like a family and includes experienced and licensed professionals serving clients with personal and courteous service. Coverage Pro is committed to satisfying the insurance needs of individuals, families, groups and businesses through the use of excellent insurance products and services that are second to none. The agency offers most types of insurance, including home, auto, boat, business and life.

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Texas Cheap Car Insurance Companies Now Featured in Public Quotes System Online


Houston, TX (PRWEB) June 25, 2014

The state of Texas is one of the parts of the USA where consumers can pay more to receive vehicle insurance, according to recently announced industry data. The Quotes Pros company has now compiled Texas cheap car insurance listings from agencies at http://quotespros.com/auto-insurance.html.

Any driver with a verifiable Texas zip code can conduct extensive research for discounts and bundle incentives using the new quotation database. Because the system remains free to use, car owners accessing the search tool do not input personal data.

“Privacy is one of the concerns any consumer has on the Internet and we don’t ask for VIN numbers, mailing addresses or driver’s license numbers to quote insurance,” said a QuotesPros.com source.

The unique way that insurers are now generating prices inside the Quotes Pros research tool is changing the industry for the better. The categories for prices that drivers can review are assembled after zip codes are used to sort through the available companies underwriting Texas auto insurance policies.

“Drivers can can use our tool daily to explore the different companies quoting full coverage, liability or other needed coverage types in TX,” said the source.

The Quotes Pros company has recently enabled a separate lookup tool that specializes in locating repair insurance agencies for used car owners. This optional tool is now found at http://quotespros.com/car-insurance.html and will reveal instant prices for all available policies.

About QuotesPros.com

The QuotesPros.com company has added to its statewide connected insurance database to better serve the public when reviewing different coverage packages available. The company has enlisted help from different agencies to calculate prices for insurer packages that are now delivered online. The QuotesPros.com company internally maintains the database of partners that consumers access to again quoting coverage plans available daily while accessing the website.







Coverage Pro Insurance Helps Local Drivers Recover From Recent Flooding with Tips and Florida Car Insurance


Melbourne, FL (PRWEB) November 13, 2011

The team at Coverage Pro Insurance know how important it is for local residents to have flood insurance to protect their homes from water damage. However, many people are unsure of how to proceed when their car is affected by a flood. Individuals who have comprehensive Florida car insurance dont have to worry about the financial implications of flood damage incurred by their vehicle, but there are some things that these people should do immediately after calling their insurance provider in order to minimize damage.

In light of the recent floods that inundated some parts of South Florida, the experts at Coverage Pro Insurance would like to offer the following tips on how to care for a flooded vehicle:


First and foremost, call the Florida car insurance provider who covers the vehicle and report the damage.
Do not try to start the car, as this will only exacerbate damage if the engine, transmission or fuel system have been exposed to water.
Use the cars dipstick to check fluid levels and check the air filter to see if it is wet. If not, the moisture may leave the vehicle through the air intake. However, an oil level that is too high may indicate that water has made its way into the engine.
Check local weather reports to determine how warm it will be during the days after the flood. Warm weather may speed up mold growth, which means that drivers should try to remove the seats from their vehicle as soon as possible to allow them to dry out.

Luckily, individuals with Florida car insurance can spend the days after a flood ensuring their personal safety without worrying about the potential costs of replacing their car. The experts at Coverage Pro Insurance know that coping with flood damage is never easy, but that is why they specialize in helping local residents recover from unexpected disasters with as little hassle as possible.

About Coverage Pro Insurance:

Coverage Pro Insurance has brought security and peace of mind to thousands of policyholders by offering quality coverage that meets the customer’s specific needs. Coverage Pro’s agency family includes experienced and licensed professionals serving clients with personal and courteous service. The agency is committed to satisfying the insurance needs of individuals, families, groups and businesses through the use of insurance products and services that are second to none. We offer most types of insurance, including home, auto, boat, business and life.

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Related Melbourne Auto Insurance Press Releases

Used Car Dealer Off Lease Only & Best Foot Forward Partner to Help College-Bound Student Raised in Foster Care Celebrate Birthday with Belated Gift: A Donated Car


Lake Worth, Florida (PRWEB) July 02, 2014

Despite moving 10 times in eight years, Selena Barrera beat the odds and graduated from high school in May, thanks to a devoted foster mother and support from non-profit agency Best Foot Forward that helped her with academics. When Off Lease Only owners Mark & Eileen Fischer heard Selenas story, they knew this would be the next recipient of our Strive to Drive Challenge. The anticipation is building as they are about to give Selena the surprise of her life! A donated car.

Join us for the big surprise this Wednesday, July 2nd at 3:30 p.m. The car will be presented at Off Lease Onlys Lake Worth dealership located @ 3531 Lake Worth Road, Lake Worth, Fl 33461. Off Lease Only owners Mark and Eileen Fischer will surprise the soft-spoken student with a car so she can drive to her classes at Palm Beach State College. The timing couldnt be better seen as it is just two days after Selenas 20th birthday. Selena will be the first in her family to attend college.

Selenas story touched our hearts and we are very much looking forward to doing something kind for someone this deserving, said Off Lease Only Owner Mark Fischer. To be moved around ten times in 8 years is something no child should have to go through. I hope giving her a car will make getting to college and everyday tasks in general a little easier.

Words cannot express our gratitude to Off Lease Only for their incredible generosity, comments Debbie Ellman, Co-Founder of Best Foot Forward. They are changing lives by giving these young adults an automobile. She adds, Having reliable transportation is essential to establishing independence. This gift will help them stay on track and ease the transition of being on their own.

Off Lease Only will retain possession of the car until Selena takes her driving test in about two weeks and gets insurance.

Fischer also credited BFF with providing Selena with the academic support to graduate from high school.

Best Foot Forward is an incredible organization and I am beyond proud to be partners in the Strive to Drive Challenge, Fischer said.

Selenas devoted foster mother Twiler Smith; BFF founders Debbie Ellman and Donna Biase; and Selenas guardian ad litem Pat Bennett will be on hand to witness the big surprise. Smith, Ellman, Biase and Bennett have been involved in Selenas life for at least five years and have seen Selena blossom from a struggling middle schooler to a college-bound high school graduate.

From foster care to high school to success. She made it, said foster mother Twiler Smith. If it was not for BFF, I dont know what would have happened to her. They never gave up.

Selena was behind in school when BFF got involved and provided after-school tutoring, inspiration and encouragement. BFF tutored Selena until she was able to pass the FCAT and the ACT. She graduated from Palm Beach Lakes High School on May 22nd. BFF also helped Selena complete a college application to Palm Beach State College so she could attend classes there.

In addition to the generous car donation, Off Lease Only’s partnership with Cirque Dreams is making this event even more magical! Cirque Dreams Jungle Fantasy is an exotic encounter inspired by natures unpredictable creations brought to life by an international cast of soaring aerialists, spine-bending contortionists, acrobats, jugglers and musicians. The Broadway Hit will play the Broward Performing Arts Center July 22nd- 27th, and they have generously donated 4 tickets plus backstage passes to give to Selena as an additional reward for being such an inspiring young woman.

“Imagination is everything when it comes to Cirque Dreams. There are no boundaries and no limits to what these talented acrobats, musicians, dancers and singers can do,” says Monique Hausheer, Marketing Director for Off Lease Only. “I am beyond grateful for their interest in sharing the exciting world of Cirque with Selena. You can achieve whatever you put your mind to. I think watching the show and then meeting the talented performers back stage will be incredibly motivating to this beautiful and deserving young lady. Not to mention she will arrive in style driving her car thanks to Off Lease Only!”

About Best Foot Forward: Best Foot Forward is the only agency in Palm Beach County exclusively dedicated to the education of foster care youth. Founded in 2010, BFF currently has 61 students in 32 schools. Nationally, only 46 percent of youth in foster care graduate high school. BFF removes many barriers and offers guidance, planning and coaching needed for educational success. To date, BFF has a 100 percent high school graduation rate. BFF provides consistent program services to the student as long as their case remains open and they remain in Palm Beach County. For more information, visit BFFs website at http://www.bestfoot.org.

About Off Lease Only: Off Lease Only is the Nations #5 Volume Car Dealership and believes strongly in giving back to the community. Off Lease Only teamed up with Best Foot Forward in 2011 to start the Strive to Drive Challenge where one outstanding student gets rewarded with a pre-owned car. This partnership was created to encourage foster children to go above and beyond in their education. Off Lease Only has over 2000 cars all priced thousands below retail. No dealer fees, no negotiating and no stress is what makes this car dealership unique. To learn more about Off Lease Only log onto http://www.offleaseonly.com.







Motorcycle Insurance in Australia Industry Market Research Report Now Available from IBISWorld


Melbourne, Australia (PRWEB) May 03, 2013

Despite a spate of financial shocks and a recovering economy, the Motorcycle Insurance industry has been accelerating at a comfortable pace over the five years through 2012-13. Consumers have taken up motorcycles as the increasing world price of crude oil has made the upkeep of cars tougher. According to IBISWorld industry analyst Ryan Lin, more people adopting motorcycles as their main form of transport has provided a buffer against falling investment returns as a result of volatile financial markets. This trend has been most significant in coastal cities along Australia’s eastern seaboard that have a large population concentration and high levels of traffic congestion and pollution. These conditions have prompted consumers to purchase motorcycles for increased manoeuvrability in large cities.

Large insurance companies have capitalised on the growing number of bikes, with the Motorcycle Insurance industrys revenue expected to increase at an annualised 3.4% over the five years through 2012-13. Revenue is forecast to grow more strongly in 2012-13 as many consumers move on to their second or third bikes and begin to demand comprehensive insurance for a more expensive bike purchase, especially as younger riders begin to hit the road more often. Technological advancements have also revolutionised the industry, with the new cohort of young riders looking online for insurance services, says Lin. This has given industry operators a chance to attract a new market, as many partner with online authorised insurance retailers. There are four major players in the industry: Suncorp Group Limited, Insurance Australia Group Limited, QBE Insurance Group Limited and Allianz Australia Limited. Together these companies account for a significant share of the industry.

Over the coming five years, the explosive adoption of motorcycles will begin to slow as carmakers offer more fuel efficient products. Competition from cars and a number of other factors are expected to hamper industry growth. IBISWorld expects that industry operators will begin building brand awareness and customer loyalty through their agents and distributors, working to retain customers instead of to acquire new market share. Competition from potential entrants to specialty insurance may also weigh against industry growth, with banks and large organisations moving into insurance.

For more information, visit IBISWorlds Motorcycle Insurance report in Australia industry page.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau

IBISWorld Industry Report Key Topics

This industry underwrites (i.e. assuming the risk and assigning premiums) motorcycle insurance policies. Motorcycle insurance provides financial protection against physical damage to the vehicle and bodily injury resulting from traffic collisions. It can also protect against resulting liability.

Industry Performance

Executive Summary

Key External Drivers

Current Performance

Industry Outlook

Industry Life Cycle

Products & Markets

Supply Chain

Products & Services

Major Markets

International Trade

Business Locations

Competitive Landscape

Market Share Concentration

Key Success Factors

Cost Structure Benchmarks

Basis of Competition

Barriers to Entry

Industry Globalisation

Major Companies

Operating Conditions

Capital Intensity

Technology & Systems

Revenue Volatility

Regulation & Policy

Industry Assistance

Key Statistics

Industry Data

Annual Change

Key Ratios

About IBISWorld Inc.

Recognised as the nations most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.







2014 Vincentric Best Fleet Value in Canada Awards Announced; Nissan, Toyota, and GM Top the Winners List

Bingham Farms, MI (PRWEB) July 01, 2014

The third annual Vincentric Best Fleet Value in Canada awards were announced today, with Nissan and Toyota sharing the top spot, each manufacturer earning eight Vincentric awards. General Motors was close behind, with seven award-winning fleet vehicles. Other manufacturers with multiple winners included Chrysler, Mercedes-Benz, and Ford, each earning four best fleet value awards, while Mitsubishi delivered two award winning vehicles.

The Nissan success was led by its crossover class and a strong performance by the NV product line in the van class, with three Nissan award winners in each segment. Toyota earned its awards with a well-balanced line-up in the passenger vehicle and crossover classes, including multiple hybrid winners. The General Motors achievements were led by Buick and Cadillac with a combined total of five awards, while Dodge and Ram brands earned two awards each for Chrysler, with the Ram 2500 and 3500 pickups sweeping the heavy-duty pickup segments. The Mercedes-Benz Sprinter performed strongly for the third year in a row, winning three of the heavy duty van segments, while Ford earned awards in key fleet segments with the F-150 pickup and E-150 passenger van topping their winners list.

“With a three-year history of fleet awards in Canada, we are noticing some trends, stated David Wurster, President of Vincentric. “The Mercedes-Benz Sprinter and the Toyota hybrids have had strong performances all three years, with GM and Ford also consistently delivering numerous award winners. The Nissan line-up and Ram trucks also had a strong presence in the awards this year, which will give fleet operators a wide range of choices when using total cost of ownership to help guide their vehicle selections,” he added.

To determine the 2014 Vincentric Best Fleet Value in Canada awards, Vincentric analyzed over 1,900 vehicle configurations in 24 different lifecycle cost scenarios, using eight cost factors including depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. The lifecycle costs were measured in all ten provinces, with the resulting 3,640,000+ lifecycle cost measurements then reviewed to determine the winning vehicles.

Further information regarding all of the winners of the Vincentric Best Fleet Value in Canada awards for the 2014 model year and the Vincentric methodology is available at http://www.vincentric.com.

ABOUT VINCENTRIC

Vincentric provides data, knowledge, and insight to the automotive industry by identifying and applying the many aspects of automotive value. Vincentric data is used by organizations such as Mercedes-Benz Canada, Yahoo! Autos, Nissan Canada, Mitsubishi Canada, AOL, Cars.com, BMW, General Motors, Toyota Canada Inc., Business Fleet Magazine, NADA Guides, and Fleet-Central.com as a means of providing automotive insight to their clientele. Vincentric, LLC is a privately held automotive data compilation and analysis firm headquartered in Bingham Farms, Michigan.







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