National / International News

Why car insurance rates vary wildly by state

Marketplace - American Public Media - Mon, 2015-04-27 02:00

A new report from InsuranceQuotes shows that North Carolina, Wisconsin, and Maine have at least one thing in common: drivers there pay the least for auto insurance. In North Carolina, insurance rates ran 41 percent less than the national average. Highest was Michigan, where drivers paid more the double the national average for car insurance. There is a method to all of this insurance madness.

Next time you're in your car driving down the road, take a look at the billboards. Do you see a lot of ads for what are known as ambulance chasers? That might explain a thing or two about your insurance rates.

Robert Hoyt, who teaches risk management and insurance at the University of Georgia, says your state's legal environment has a lot to do with it. In other words, how likely drivers are to sue each other. Hoyt says when they're setting rates, insurance companies track all of this, even how often juries decide to award for damages.

Also, state laws factor in.

"The states that have the highest auto insurance costs do happen to be the no-fault states," he says. No-fault means your insurance company covers your injuries.

Laura Adams, senior analyst with InsuranceQuotes, says often it's just a matter of population density.

"The more cars, the more accidents that happen," she says.

She says that's why people in urban areas pay a lot more for car insurance.

 

Proposal would cut military pension and add a 401(k)

Marketplace - American Public Media - Mon, 2015-04-27 02:00

As it stands today, servicemembers who advance through the Department of Defense are entitled to a pension of 50 percent of their income at retirement after 20 years of service. But a new proposal making its way through Congress would lower that to 40 percent and add a 401(k) savings account. 

Some veterans' groups, like the Military Officers Association of America, oppose the change and say the 20-year pension is an incentive for top officers to stay in the service.

"We're concerned that the commission's blended retirement benefit would fail to provide the necessary draw to retain those service members," says Col. Mike Barron, deputy director of government relations for MOAA. 

But the report from the Military Compensation and Retirement Modernization Commission suggested this plan as a way to both save costs and increase incentives for servicemembers who don't make it to 20 years. Other, more controversial proposals—like overhauling the TriCare health system used by servicemembers—are stalled.

Todd Harrison, Senior Fellow for Defense Budget Studies at the Center for Strategic and Budgetary Assessments, says it's clear that the 20-year pension isn't a good incentive, because only 17 percent of servicemembers get to that point.

"They are pushing out some of their best people with this inflexible, industrial age career model," Harrison says.

Harrison also notes that not all veterans' groups oppose the change; others, like the Veterans of Foreign Wars, support it.

Why car insurance rates vary wildly by state

Marketplace - American Public Media - Mon, 2015-04-27 02:00

A new report from InsuranceQuotes shows that North Carolina, Wisconsin, and Maine have at least one thing in common: drivers there pay the least for auto insurance. In North Carolina, insurance rates ran 41 percent less than the national average. Highest was Michigan, where drivers paid more the double the national average for car insurance. There is a method to all of this insurance madness.

Next time you're in your car driving down the road, take a look at the billboards. Do you see a lot of ads for what are known as ambulance chasers? That might explain a thing or two about your insurance rates.

Robert Hoyt, who teaches risk management and insurance at the University of Georgia, says your state's legal environment has a lot to do with it. In other words, how likely drivers are to sue each other. Hoyt says when they're setting rates, insurance companies track all of this, even how often juries decide to award for damages.

Also, state laws factor in.

"The states that have the highest auto insurance costs do happen to be the no-fault states," he says. No-fault means your insurance company covers your injuries.

Laura Adams, senior analyst with InsuranceQuotes, says often it's just a matter of population density.

"The more cars, the more accidents that happen," she says.

She says that's why people in urban areas pay a lot more for car insurance.

 

I'll take a burrito, hold the GMOs

Marketplace - American Public Media - Mon, 2015-04-27 01:58
2 days

That's how much time passed between Mitt Romney's loss in the 2012 presidential election and GOP media consultant Rick Wilson's first professional conversation about the 2016 election. In the months leading up to contests in Iowa and New Hampshire, presidential hopefuls compete in "the invisible primary," trying to gather enough money and media attention to run a viable campaign. 

40 percent

As it stands, servicemembers who serve over 20 years in the military are entitled to 50 percent of their income at retirement. But a new proposal would reduce that number to 40 percent, while adding a 401(k) savings account. The change has brought up strong opinions on both sides of the argument, with some worrying that it will lessen the incentive to serve those 20 plus years. But others argue that the low percentage of servicemembers who currently make it to that landmark proves that the current deal isn't working either.

$25 million

That's how much Comcast spent on lobbying last year, trying to drum up support for its $45 billion merger with rival cable giant Time Warner. Comcast officially abandoned those plans Friday, amid regulatory scrutiny and consumer pushback. The NY Times looked into how such and elaborate and expensive lobbying apparatus could have failed to move lawmakers, when Comcast had been so convincing in their case to acquire NBCUniversal just a few years before. 

$2.4 million

That's how much someone made by buying up stock options in Altera, right as rumors were flying on social media that the company was about to be acquired by Intel. The deal moved faster than any human could have managed, and it wasn't a one-time thing. Slate explains how this is different from high frequency trading as we know it, and why traders are rattled. 

68 ingredients

That's how many total ingredients are used at Chipotle. And starting Monday, the fast food chain announced it will no longer use genetically engineered foods in any of its restaurants. As the NY Times notes, a similar chain to Chipotle uses 81 ingredients—less ingredients means its easier to make the switch. Among the biggest challenges: Chipotle used soy oil to fry its chips, and soy is largely genetically modified in the states. Opting instead for a slightly more expensive canola oil may show up in the price tag someday soon.

Burundi police tear-gas protesters

BBC - Mon, 2015-04-27 01:49
Police in Burundi fire tear gas at activists protesting against President Pierre Nkurunziza's decision to run for a third term in office.

Sturridge doubt for rest of season

BBC - Mon, 2015-04-27 01:49
Injured Liverpool striker Daniel Sturridge may not play again before the end of the season, says boss Brendan Rodgers.

Penny Dreadful, Sherlock win Baftas

BBC - Mon, 2015-04-27 01:48
Supernatural horror Penny Dreadful wins three Bafta Television Craft Awards, while BBC One's Sherlock wins two and Mackenzie Crook wins his first Bafta.

Israel 'kills militants' in Golan

BBC - Mon, 2015-04-27 01:48
An Israeli air strike has killed four militants armed with a bomb along the Israeli-Syrian frontier in the Golan Heights, the Israeli military says.

Wimbledon outlaws selfie sticks

BBC - Mon, 2015-04-27 01:43
The All England Lawn Tennis Club warns selfie sticks will not be allowed into this year's Wimbledon Championships.

Maybe You Should Rethink That Daily Aspirin

NPR News - Mon, 2015-04-27 01:23

A small dose of aspirin taken regularly can help prevent a second heart attack or stroke. But too many healthy people are taking the drug for prevention. And for them, the risks may outweigh benefits.

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The Shipwreck That Led Confederate Veterans To Risk All For Union Lives

NPR News - Mon, 2015-04-27 01:09

On April 27, 1865, a steamboat named the Sultana exploded and sunk while transporting Union soldiers up the Mississippi. An estimated 1,800 people died, but few today have heard of this disaster.

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London Marathon woman keeps running

BBC - Mon, 2015-04-27 01:08
A woman from East Sussex who ran the London Marathon is following it with another seven 26.2-mile runs in a week.

EU-Ukraine summit as shelling worsens

BBC - Mon, 2015-04-27 01:06
The EU holds talks in Kiev amid concern about the ailing Ukrainian economy, as observers report intense shelling in the country's east.

Greens pledge to end 'Right to Buy'

BBC - Mon, 2015-04-27 01:04
Council house tenants will not be allowed to buy their own homes, under plans unveiled by the Green Party.

Legal Battle Over Gay Marriage Hits The Supreme Court Tuesday

NPR News - Mon, 2015-04-27 01:03

People have been lining up for days hoping they will be among the lucky ones to get a seat for Tuesday's historic arguments. At issue: whether states can ban, and refuse to recognize, gay marriage.

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Could Australia's tough approach to migrants work in Europe?

BBC - Mon, 2015-04-27 01:01
As thousands of migrants drown trying to make their way to Europe, Owen Bennett-Jones asks if Australia's tough approach to unauthorised migrants could work in the EU.

Ex-army chief sued over NI killing

BBC - Mon, 2015-04-27 00:51
A former senior Army officer is to be sued over the death of a Catholic man in Northern Ireland more than 40 years ago.

EE revenue down as BT takeover looms

BBC - Mon, 2015-04-27 00:35
EE, the UK's biggest mobile operator, saw its operating revenue fall 1.1% to £1.469m in the first quarter.

Japan's Prime Minister Abe Aims For A Lot From His High-Profile Visit To U.S.

NPR News - Mon, 2015-04-27 00:35

Abe will have a summit with President Obama, sign a security agreement, and make an historic address to a joint meeting of Congress during his week-long visit.

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Same-Sex Marriage, In The Justices' Words

NPR News - Mon, 2015-04-27 00:34

On Tuesday, the Supreme Court will hear arguments on the question of same-sex marriage. In the meantime, though, we do know a good deal about the views of the justices already.

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