Equifax

Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter

 

Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

How the Insurance Marketplace Can Affect Your Insurance Premiums

Written by Linda Rey on June 9, 2011 in Insurance  |   No comments

How the Insurance Marketplace Can Affect Your Insurance Premiums By Linda Rey I’ve been in the insurance industry since 1985 in some form or fashion. When I look back on my career, I’m always amazed at how diverse this industry can be. In the insurance…

How the Insurance Marketplace Can Affect Your Insurance Premiums

By Linda Rey

I’ve been in the insurance industry since 1985 in some form or fashion. When I look back on my career, I’m always amazed at how diverse this industry can be.

In the insurance industry, as in any other career field, I have to stay on top of the latest and greatest news. It can be overwhelming to separate news from speculation, but it’s important to my clients and my business that I know what is going on at all times.

So, this is my attempt to give you an overview of what has been on my mind lately. I hope it will be as enlightening for you as it has been for me to witness how certain elements of the industry unfold.

Natural Disasters and the Insurance Industry’s Response

I’m hard-pressed to say what area of the world has not been affected recently by some terrible disaster, as tornadoes, earthquakes, wildfires, and tsunamis have hit across the United States, Japan, Haiti, and beyond. I have seen some reports from commercial property and casualty analysts predicting that the string of natural disasters in 2011 might create insurance capacity restrictions, which, in turn, could increase insurance rates. However, this remains on the side of speculation.

Other pundits are predicting the opposite, claiming the property and casualty (auto, home, business) insurance industry is experiencing the longest soft market in history.
What Is a Soft Market?

A soft market is a term used to determine the state of the insurance marketplace. Typically, consumers don’t really relate to this term; however, a soft market does benefit consumers, as it is a time when rates are considered to be extremely low. Due to competitive pressures, underwriters try not to risk losing too much business and therefore relax their underwriting standards. They may be willing to consider customers with less-than-favorable loss histories and credit scores.

The bottom line in this market is capacity and surplus. What kind of insurance is needed? Who is applying for insurance? What kind of losses, claims, and earnings is the insurance industry seeing?

Why Consumers Should Care about the Insurance Industry

Consumers will see the health of the insurance industry directly reflected in their premiums. You don’t have to read every newsletter or subscribe to insurance journals like I do, but it’s worth paying attention to the news and asking your insurance agent about the marketplace on occasion.

A potential hardening of the market could be expected by 2012, which means you might see an increase in insurance rates. However, other pundits are predicting that 2012 will be “more of the same,” which means competition among carriers would persist and pricing will remain competitive.

The speculation continues, but as I keep an eye on the insurance market changes, my advice is to talk to your insurance agent. Do a periodic review to make sure you have the best coverage for your needs and make sure that you’re receiving competitive premium pricing, no matter what the market is doing.

Linda Rey is a licensed insurance agent at Rey Insurance with a broad spectrum of expertise in life, accident, health, property and casualty insurance as well as retirement planning and college funding strategies.

Follow Linda on Twitter.

Read More:
Save Money in 2011 on Your Premiums
Homeowner’s Insurance Costs: It’s Not How Much Your House Is Worth but How Much It Costs to Rebuild
Divorce and Insurance: Who Gets What Affects Your Coverage
How to Resolve a Claim Dispute with Your Insurance Provider

No comments yet


Leave a Comment


Name :


Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.


Insurance Archive