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GMAC Financial Services today confirmed that it is in discussions with federal regulatory authorities regarding, among other things, seeking bank holding company status under the Bank Holding Company Act of 1956, as amended. As a bank holding company, GMAC would obtain increased flexibility and stability to fulfill its core mission of providing automotive and mortgage financing ...
This Fourth of July, as more people embrace the notion of a "staycation" over their typical holiday travels, GMAC Insurance offers ways for people to cut back even more on their transportation costs. The company reveals five tips to reduce the financial strain of driving and offers OnStar subscribers a Low-Mileage Discount program as ...
First quarter net loss of $589 million Automotive finance and insurance businesses remain profitable Results in the U.S. residential mortgage business improved; offset by a decline in the international mortgage business Cash and certain marketable securities of $18.6 billionGeneral Motors Acceptance Corp. reports a wider first-quarter loss, reflecting steep declines in the financing company’s international-mortgage ...
Massachusetts, New York, and Texas have all raised insurance rates in the last few months For Texas it was the first significant rate hike in 22 years, and was brought on by an increase in liability requirements. In the other states, rate increases were brought about ...
The Insurance Corp. of B.C. has put high risk drivers on notice _ break their bad habits or pay the penalty. ICBC spokesman Doug Henderson says a new policy takes effect Jan. 1 that will raise the premiums of B.C.'s worst drivers. Henderson says that could increase insurance costs for those drivers by hundreds or ...
Manitoba drivers are getting another rebate on their vehicle insurance. Manitoba Public Insurance has announced a 10 per cent rebate for everyone who paid auto insurance this year. The Crown corporation also received regulatory approval today for its rates for the coming year. MPI says most drivers will pay the same or less than this year, and ...
VANCOUVER, B.C. (CP) _ The Insurance Corporation of British Columbia more than doubled its net income for the first half of 2007, compared to the same period last year. ICBC is reporting net income of $256 million from January to July of this year. It made $110 million for the same period in ...
NEW YORK (AP) _ GMAC Financial Services, the finance company formerly controlled by General Motors Corp., said Monday continued losses from its home lending operations caused second-quarter profits to fall sharply. The New York-based company reported a profit of US$293 million, compared with $787 million in the same period last year. Revenue fell to $4.02 billion ...
EDMONTON (CP) _ Albertans won't be getting a break on their auto insurance premiums after this year's provincial rate review. The government-appointed board that sets rates for mandatory policies has decided to hold premiums at 2006 levels for another year. Board chairman Alf Savage issued a brief statement saying the province's consumers continue to have access ...
GMAC Insurance and OnStar announced the rollout of the Low-Mileage Discount program where Americans who drive less, pay less on their auto insurance. The opt-in program is the first of its kind leveraging state-of-the-art technology using OnStar to allow customers who drive fewer miles to benefit from substantial savings. Eligible active OnStar subscribers simply sign ...
WASHINGTON (AP) _ Head restraints in dozens of sport utility vehicles, pickup trucks and minivans provided only poor or marginal protection from neck injuries in simulated crashes conducted by the U.S. insurance industry. The test results released Tuesday found several SUVs had improved protections against whiplash injuries but gave poor marks to vehicles made by several ...
WINNIPEG (CP) _ The Manitoba government is forcing thousands of vehicle owners to get anti-theft immobilizers or risk losing their car insurance. Starting Sept. 1, Manitobans with vehicles on the most-at risk list will need to install the electronic devices before they can renew their insurance and registration through the province's car insurer. The crackdown is the ...
REGINA (CP) _ More than half a million drivers in Saskatchewan will be getting refund cheques from the province when their automobile insurance rates drop July 1. Roughly 531,000 drivers can expect to see their insurance bill drop about $80 on average because of the decision by Saskatchewan's rate review ...
For many Canadian motorists, they're a fixture of the morning commute: that lady in the left lane steering with one hand and curling her hair with the other, or the fellow scarfing down toast while he checks his e-mail on an open laptop or Blackberry. Distracted drivers are being targeted ...
Imported models took all 13 spots on the U.S. insurance industry's list of safest vehicles this year, due mainly to a new requirement that all cars and sport utility vehicles on the list have systems to keep them stable in an emergency. The Insurance Institute for Highway Safety isn't bashful ...
The Insurance Corp. of B.C. is warning motorists to expect another rate increase in 2007. Spokesman Doug McLelland said Thursday in the first nine months of this year ICBC reported a net income of $175 million but the cost of injury claims jumped 7.4 per cent over 2005. He said ...
American General InsuranceBy: Aron Russell From car, to property, to medicine, to life, it is important to be well insured in all aspects of your existence. Since getting American General Insurance, I have been pretty happy with my safety, but then again you never know. American General life insurance ...
Accident InsuranceBy Paul Rogers (AutoNews24h.com) Most of us who live and work in the world today probably have some sort of accident insurance. While some of us are surely aware of it, most of us may not even realize that we have something called accident insurance. And if there ...
Vehicle InsuranceBy Paul Rogers (AutoNews24h.com) One of the first things you need when you purchase a new car or truck is vehicle insurance. Insurance rates will vary greatly depending on how long you have been driving, what kind of vehicle you are buying, where you live, and if you ...
It will soon become more expensive to be a motorist in Quebec. The province's cash-strapped public auto insurance agency has been given the green light to hike its rates. This, as other provinces are trying to reduce soaring private automobile insurance rates. A council of experts appointed by the province supports the rate hikes proposed earlier this ...
By Martin Ouellet QUEBEC (CP) _ While other provinces have taken steps to reduce soaring private automobile insurance rates, Quebec's cash-strapped public auto insurance agency has been given the green light to go ahead with a series of rate hikes. A council of experts appointed by the province supports the rate hikes proposed earlier this year ...
WINNIPEG (CP) _ The Manitoba government will soon make it tougher for car thieves to find something to steal. Under a plan that kicks in Sept. 1, cars on Manitoba Public Insurance's list of 150 high-theft-risk vehicles that are stolen and then recovered won't be allowed back on the road until they're equipped with ...
HALIFAX (CP) _ Nova Scotia's NDP leader says his party is still committed to introducing public auto insurance, but it's a little further down the pecking order this campaign. Auto insurance was a dominant issue in the 2003 campaign, when voters were outraged over sky-high premiums. NDP Leader Darrell Dexter spent the first week of ...
FREDERICTON (CP) _ The provincial Liberal Party has issued a correction about a survey it commissioned that claims New Brunswickers pay an average of $1,800 dollars for auto insurance. The party says the polling firm made a coding error, and that the survey actually shows the average annual amount to be $1,128. In a Thursday ...
FREDERICTON (CP) _ New Brunswickers are paying an average of $1,800 dollars for auto insurance, according to a new survey that's being questioned by the province. That's more than twice the $851 average for 2006 announced last November by the New Brunswick Insurance Board. The survey, done for the New Brunswick Liberal Party by Corporate Research ...
REGINA (CP) _ The rebate cheques will be in the mail by the end of May as Saskatchewan Government Insurance's auto fund returns a portion of its $60 million surplus from last year, Glenn Hagel, minister in charge of the Crown corporation, said Thursday. A one-time eight per cent rebate is being calculated on ...

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