Great American Insurance Group Honors Mondics & Homeplace

Great American Insurance Group’s Trucking Division is honoring Mondics Insurance Group and Homeplace Insurance Brokers, Inc. with its prestigious A1A Award.

The A1A Award is presented to the Trucking Division’s agency of the year. To be eligible, agencies must meet production criteria, be involved in the Division’s advisory board and show profitability over multiple years.

“We were excited to honor two agencies with this award for their profitable growth over the last year,” said Mark Calkin, Divisional President, Great American Insurance Group Trucking Division. “Because we specialize in trucking insurance, we carefully choose the agencies that we work with based on their dedicated focus on the transportation industry. We’re proud of the service and support they provide to truck drivers across the country.”

Mondics Insurance Group, based in Plano, Texas, is one of the largest independently owned agencies in North Texas and is owned by John Mondics, President. Homeplace Insurance Brokers, Inc., located in Ontario, Calif., focuses on providing insurance specifically to the transportation industry. Homeplace is led by Judy Busam, President. Both agencies have done business with Great American for a number of years.

Great American’s Trucking Division is a leading provider of insurance products for the long-haul trucking industry and specializes in service to independent contractors.

Seven Insurance Tips to Stretch Your Paycheck from Answer Financial

With tax returns fresh on all our minds, the original insurance comparison company, Answer Financial® Inc., offers these seven tips to keep your hard-earned money in your pocket instead of your insurance company's.

Tip 1 – Don't miss out on Discounts

This may seem obvious, but if you've had major changes in your life over the last year, you probably qualify for new discounts that can save you money throughout the year. If you recently moved or bought a home, got married, or change jobs, make sure to ask your agent if you qualify for additional discounts.

Tip 2 – Shop Around Before You Buy

Insurance rates can vary significantly from one company to another. To avoid overpaying, compare quotes from multiple insurance companies to see which one best meets your needs. To save yourself precious time and money, compare quotes and buy your policy all in one place with Answer Financial.

Tip 3 – Combine and Conquer

Bundling your auto insurance policy with a renters or homeowners policy can save you up to 15%. Speak with a licensed agent today at 1-888-737-7000 to max out your savings.

Tip 4 – Scrap Nice-to-Have Coverages

If your car is paid off and 10 years or older, consider if you still need comprehensive and/or collision coverage, which reimburse you if your car is damaged or stolen. If the value of your car has depreciated enough, you may be better off carrying liability-only and banking your savings for a rainy day.

Tip 5 – Bump Up Your Deductible

Not quite ready to cut your coverages? Another immediate way to slice your insurance rates are to increase your deductible from the standard $500 to $1,000.

Tip 6 – Monitor Your Odometer

Think of your insurance policy like a cell phone plan. Do you want to pay for minutes you don't use? If you are overestimating your drive miles, make appropriate adjustments and you may see it on your bill. To shave off extra miles, try carpooling part-time. The savings on gas and insurance will add up throughout the year.

Tip 7 – Make a Commitment

If you've found a great policy, opt for a 12-month premium option if offered. You may save by making the commitment and your rate will be locked for an extra six months, versus a typical policy. Save even more by paying for your policy in full. Your insurance company will reward you for demonstrating financial responsibility.

To compare rates and see how much money you can save per year, visit: www.AnswerFinancial.com

S’ Korea’s Health Insurer Sues Tobacco Makers Over Costs

Caption: A casher arranges KT&G cigarette packs at a convenient store in Ilsan, South Korea

South Korea’s national health insurance body sued three cigarette makers for at least 53.7 billion won ($52 million) as compensation for health-care costs linked to smoking-related diseases.

National Health Insurance Service filed the suit against KT&G Corp. (033780), the former state-run cigarette maker privatized in 2002, and the local units of Philip Morris International Inc. (PM) and British American Tobacco Plc (BATS) in Seoul Central District Court, the insurer, which is overseen by the nation’s health ministry, said in an e-mailed statement today.

The lawsuit marks the first time a national agency has sought damages against an industry in which South Korea’s government was previously a key participant. The Korea Tobacco Association, which represents cigarette makers in South Korea, said in January the insurer’s proposed lawsuit has no legal merit based on past court rulings in favor of tobacco producers.

“It’s the duty of NHIS to take responsibility for people’s health and to manage insurance finances,” the insurer said in the statement. NHIS said in January it spends at least 1.7 trillion won a year on health care related to smoking, with costs expected to increase in future.

KT&G will deal with NHIS’s legal action “in line with previous lawsuits,” the Daejeon, South Korea-based company said in an e-mailed response to questions from Bloomberg, without elaborating. The company had 62 percent of the nation’s tobacco market last year, according to the Korea Tobacco Association.

KT&G shares closed unchanged at 82,400 won in Seoul, while the benchmark Kospi index was little changed.

According to Legal Principles, Philip Morris’s main switchboard operator in Seoul declined to make a public relations official available and referred inquiries to the Korea Tobacco Association. British American Tobacco’s local office didn’t immediately respond to phone calls seeking comment. The two companies had a 19 percent and 13 percent share of the Korean market respectively last year.

“In terms of legal principles, this litigation is not different from a lawsuit that was recently rejected by the Supreme Court,” the Korea Tobacco Association said in an e-mailed statement. “Tobacco makers have abided by related laws and they will attend trials sincerely.”

South Korea’s Supreme Court said April 10 that a smoker suffering lung cancer isn’t proof of a causal link between cancer and cigarettes, because a combination of external and biological factors can also contribute.

The nation’s highest court made the statement in rejecting an appeal by a lung cancer patient and families of deceased patients in a private suit filed against KT&G and the South Korean government. A group of 31 lung cancer victims and their families filed the suit in 1999, claiming they weren’t fully informed of the dangers of smoking.

NHIS will prove the causal relationship between smoking and disease with the results of studies, assistance from experts and cooperation with international bodies including the World Health Organization, the insurer said in today’s statement. It plans to increase the compensation claim during the legal process, according to the statement.

Source: www.bloomberg.com