FOR IMMEDIATE RELEASE
Baltimore, MD — Maryland Auto Insurance Executive Director, Al Redmer, Jr. announced the launch of a new Financial Education Initiative today. The goal of this program is to provide Maryland drivers, and all consumers, with access to accurate, trustworthy information to guide financial decisions.
“When I made my recent transition from Insurance Commissioner to Executive Director of Maryland Auto, I was surprised to learn how many Maryland drivers have difficulty obtaining auto insurance because of credit issues – or because a recent financial hardship has caused their policy to lapse. This drove home for me the importance of having access to financial information,” said Mr. Redmer.
Mr. Redmer explains that insurance is an important component of financial stability. “By improving credit and other financial security factors, we can improve eligibility for coverage and reduce the cost. I would like to make sure that we are playing our part in educating our customers on strategies and tactics that they can utilize to improve their financial status so they can keep their insurance policies in force and qualify for coverage in the standard market,” said Mr. Redmer.
Maryland Auto’s Financial Education Initiative provides resources to help consumers better understand the impact of credit and other factors on insurance costs and overall financial stability. The focal point of the Financial Education initiative is mymdauto.com/FinancialEducation, a new financial portal on Maryland Auto’s website that provides information on banking, budgeting, credit, debt management, fraud and scams, investing, and retirement planning.
Additionally, the program will include social media content on Maryland Auto’s social platforms and informational materials, which will be available through Maryland Auto’s network of producer partners and participating program partners and at future community events.
The initiative announced today involves partnerships with community groups, government and non-profit agencies, across the state, including the CASH Campaign of Maryland and Consumer Credit Counseling Services of Maryland and Delaware.
“Having access to the best information available is especially important during this time of financial difficulty that so many Marylanders are facing. Every aspect of financial security — from homeownership to eliminating debt and saving for the future – is affected by making informed financial decisions. And to plan properly and make good financial decisions, consumers need access to credible information,” said Mr. Redmer.
About Maryland Auto
Maryland Auto Insurance is a mission-driven company dedicated to reducing the number of uninsured drivers on Maryland roadways by providing accessible, affordable insurance to drivers who currently are unable to obtain coverage from standard carriers. Maryland Auto was established in 1972 by the State of Maryland to protect its citizens from the risks and costs associated with uninsured driving. To learn more about Maryland Auto, visit www.MyMarylandAuto.com.
Contact: Cathy Nyce, 301-509-6490, Cathy.Nyce@MarylandAuto.Net
