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"Banks and financial institutions are not the only companies that are at risk of going under in the current economic climate," said Jon Davidson, InsuranceSpecialists.com CEO. "In the course of only five days, insurance stocks plunged better than 30%. And we're not talking about fly-by-night companies. The big boys took a hit too. Prudential Financial and the Hartford Financial Services Group racked up losses of almost 42%. Most of the analysts are saying it's going to get worse, and no one is exactly sure how much of the $700 billion Congressional bailout plan is going to go to help insurers."
Breaking down the industry into auto, health, life, and homeowners insurance quotes sections, the new material on InsuranceSpecialists.com gives policy holders specific steps to take in regard to assessing the financial stability of their insurer and the reliability of their coverage. "None of this is really rocket science," said Davidson, "basically making some phone calls and asking the right questions, but it's not the kind of thing people have had to think about for a long time. Add a healthy dose of financial fear to the situation, and insurance holders start getting scared really fast."
In general, he said, the news is not as bad as many people think. While the companies are suffering huge losses, policy holders will be only minimally affected thanks to federal laws and state regulations that protect their coverage. "Still, it's a good idea for someone going after affordable health insurance coverage to check the company's Financial Strength Rating," said Davidson. "I think all of us prefer doing business with companies that are financially sound."
By focusing on current affairs as well as supplying educational articles and regular industry news updates, InsuranceSpecialists.com not only helps consumers find affordable insurance, but educates and reassures them in the process. Site content is continually updated and the editors welcome and invite your questions, comments, and ideas. Send email to: editor@insurancespecialists.com.
Contact Information Jon Davidson CEO and President InsuranceSpecialists.com Santana Towers 3031 Tisch Way, 7th Floor San Jose, CA 95128 Ph. 408 516 4544 Email: Email Contact
SOURCE: InsuranceSpecialists.com
http://www2.marketwire.com/mw/emailprcntct?id=D71C34E6EBD51730
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