SOURCE: InsuranceSpecialists.com

November 12, 2008 01:00 ET

InsuranceSpecialists.com Keeps Policy Holders Informed During Credit Crunch

SAN JOSE, CA--(Marketwire - November 12, 2008) - Building on a reputation for information-rich, honest content, InsuranceSpecialists.com, based in San Jose, California, never shies away from tackling the most difficult issues facing policy holders. As Americans cope with the effects of the current credit crunch and resulting financial crisis, InsuranceSpecialists.com has added a new section, "The Insurance Industry And the Wall Street Downturn," in an effort to help readers understand what is going on, to make sure their coverage continues, and to guarantee that their claims are covered.

"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

  • 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