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As the result of an agent selling worthless homeowners insurance policies to Florida residents, dozens of elderly are now at risk of losing their homes, the Department of Financial Services said on Thursday. Numerous complaints were filed against the agent only to reveal that she had been using money received to pay her personal expenses.

Residents Left Without Coverage

According to the department, 50 complaints were filed with the state that residents in Sarasota County had paid their insurance premiums for as long as two years to Debra K. Wanless who was supposed to be providing coverage from Lloyds of London (which is not a regulated carrier in Florida).

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The Senate and House of Representatives in Wisconsin have approved a bill that would adjust a previous mandate for auto insurance premiums in the state. The bill serves as a reversal to a law that raised premiums and insurance rates for some drivers.

Bill Lowers State’s Liability Coverage Requirements

In 2009, a law was signed that raised the limits on the minimum amount of coverage people had to have. P

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A new proposal introduced by Republicans in the House of Representatives asks that the Medicaid program be cut by $1 trillion. Lawmakers say this proposed cutback could help trim money from the deficit over the next 10 years.

Medicaid Reform Proposal on Deck

The Medicaid program began in 1965 as a way to offer public health insurance coverage to children, pregnant mothers, disabled and poor individuals. In order to cut the massive U.S. deficit, House Budget Chief Rep. Paul Ryan proposed to reform this program by making a few changes:

• Reverse current health care laws: One way to cut costs is by reversing health care reform. Since

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Auto insurance provider USAA has pulled together a list of vehicles considered to provide the best values among cars on the market today. In a time when gas prices are on the rise, its important to be aware of the vehicles that offer good values in a number of areas, including car insurance.

Vehicles Offering the Best Values

The USAA list takes into account a number of aspects of car ownership to determine what vehicles provide the best value. I

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Even though it’s a terrible thing to think about, long-term disability insurance is an important coverage to own. Long-term disability insurance is just one type of coverage for income lost due to illness or injury. It differs slightly from short-term disability insurance, and workers’ compensation benefits typically carried by employers.

Short-term disability insurance is a policy that pays a portion of your salary, should you become unable to work for a short period of time due to illness or injury. (Di

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A recent health insurance premium hike request has been withdrawn by Blue Shield of California, citing a need to keep coverage affordable for its members. The withdrawal will keep members from paying an average of 6.5 percent more to maintain their coverage.

Plan Wont Raise Rates During Tough Economic Times

A statement released on Thursday by Blue Shield of Californias president Bruce Bodaken said that since the company is not-for-profit, its mission is to always provide Californians with access to quality health care at an affordable price.

He went on to say the companys agreement to not ask for the premium increase would help make coverage more affordable for its 340,000 members during tough economic times.

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If you are like many people cutting expenses where you can, reducing your insurance coverage to the minimum seems like a good idea. However, keep in mind that even the most basic coverage may not fully protect you or your property.

In California, the minimum liability limits are as follows:

• Bodily injury liability for one person in an accident $15,000
• Bodily injury liability for all people injured in an accident $30,000
• Property damage liability for one accident $5,000

In case of an accident, liability insurance compensates a person other than the policy holder for personal injury or property damage.

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Study Shows Burglar Alarms Can Cut Crime by 60 Percent

DALLAS, Feb. 22, 2011 /PRNewswire/ — The nation’s insurance companies are encouraging homeowners to install monitored security systems by offering them substantial discounts on homeowner’s insurance.

“A survey of the 10 largest insurance companies offering homeowners coverage found premium discounts up to 20 percent if a home is equipped with a monitored alarm system,” said Dom D’Ascoli, president of the Electronic Security Association. Full Post…