Tag: auto insurance

March 4, 2024

Inigo Limited (Inigo), a specialist insurance company, has recently announced its partnership with Samsara, an Industrial Internet of Things (IoT) firm. Together, they aim to revolutionise insurance solutions for US companies with large automotive fleets. Inigo plans to utilise Samsara’s […]

February 22, 2024

Insurtech Root Inc. posted a net loss for the fourth quarter 2023 of $24 million and a net loss for the year of $147.4 million. Results were improvements from net losses of about $58.3 million for fourth quarter 2022 and […]

February 21, 2024

A California lawsuit filed against National General claims the insurer terminated policies post-collision for unrelated reasons, leaving claimants to foot the property damage and repair bills. NBC 7 reports Andy Nguyen, of San Diego, was involved in a collision while […]

February 5, 2024

A California law has given Consumer Watchdog, a nonprofit advocacy group, the ability to block $3.16 billion in auto insurance overages since 2002, a new report from the group said. “The savings are thanks to a provision of Proposition 103 […]

January 31, 2024

The last quarter of 2023 insurance shopping results began to confirm that consumers are getting used to the idea of higher auto insurance premiums, though slowly, according to J.D. Power. In its Q4 loyalty indicator and shopping trends (LIST) report, […]

January 30, 2024

Progressive netted $1.9 billion in Q4 2023, a 141% increase from the $826.4 million the company netted in Q4 2022, according to the company’s December earnings release. The company’s net income for 2023 is $3.9 billion, more than a 400% […]

January 10, 2024

Less than a month after Farmers Direct Insurance filed for a hefty rate increase on West Virginia auto liability policies, Progressive has followed suit with an almost identical request. The West Virginia insurance commissioner posted a bulletin Tuesday, noting that […]

December 28, 2023

The California Department of Insurance is investigating “numerous complaints” it has received from customers claiming they’ve struggled to secure auto insurance. Insurance Commissioner Ricardo Lara issued a bulletin last week in response to claims consumers were subjected to questionnaires, waiting […]

December 20, 2023

The inflationary rate of auto insurance climbed by 19.2% from November 2022 to November 2023, continuing to be above the total inflation rate of 3.1%, and contributed 0.5 percentage points to the rate, according to the latest Consumer Price Index […]

December 15, 2023

Allstate has secured regulatory approval to increase auto insurance rates in California, New York, and New Jersey. CFO Jess Marten said the insurer will be implementing rate increases of 30%, 14.6%, and 20% in the respective states beginning December, with […]

December 14, 2023

Louisiana clinches the title of the least affordable state for both personal auto and homeowners insurance, the Insurance Research Council (IRC) revealed in a new report. According to IRC’s findings, Louisiana’s insurance affordability crisis is due to a combination of […]

November 29, 2023

For the first time in more than a year, overall U.S. auto insurance shopping growth registered as ‘cool’ on the LexisNexis Risk Solutions Insurance Demand Meter in the third quarter of 2023, continuing a downshifting trend that began in June. […]

November 6, 2023

Ohio drivers are grappling with historic auto insurance rate increases after carriers posted hikes that are the steepest seen in the state in at least a decade. Data from the Ohio Department of Insurance has shown that several of the […]

November 6, 2023

The Texas Legislature this year adopted House Bill 1900, which amends the notice requirements for non-renewal and policy changes in Texas Insurance Code Section 551.105. The statutory changes, effective Sept. 1, increase the notice period from 30 days to 60 […]

October 30, 2023

The plaintiff was involved in a motor vehicle accident and claims to have sustained serious personal injuries. The plaintiff had $600,000 in underinsured/uninsured motorist coverage with his insurer. The plaintiff settled his primary underinsured claim and the third-party bodily injury […]

October 23, 2023

Acuity and Progressive Specialty Insurance Co. disputed who should pay after a 16-year-old boy borrowed a friend’s car and crashed it into a utility pole in Streetsboro, Ohio. The driver was insured by Acuity through a policy issued to his […]

October 4, 2023

The U.S. commercial auto insurance segment faced a substantial setback in 2022, with underwriting losses skyrocketing to $3.3 billion, as revealed by a recent report from AM Best. This downturn came on the heels of nearly breakeven results in the […]

September 29, 2023

US auto insurers have been seeing a dramatic surge in liability claim payouts as a result of social and economic inflation, according to a new study from the Insurance Information Institute (Triple-I). It was found that the increase in personal […]

September 19, 2023

A disbarred New York attorney has changed his plea to guilty in connection with an $19 million Ponzi scheme and a $30 million auto insurance fraud. Robert Wisnicki, 44, of Forest Hills, pleaded to guilty to conspiracy to commit wire […]

August 17, 2023

An alleged “family and friend” organized auto insurance fraud ring in California was seemingly broken up by the Urban Automobile Insurance Fraud Task Force when seven people were arrested on Wednesday in connection to the case. In total, 23 individuals […]