August 16, 2023
Via: Repairer Driven NewsAuto insurance shopping increased 12% during Q2 compared to the same period last year, according to a new TransUnion report. TransUnion’s quarterly Insurance Personal Lines Trends and Perspectives report, released Tuesday, attributed the rise to vehicle sales and the quest […]
August 9, 2023
Via: Insurance BusinessCar insurance is designed to protect you financially if you get involved in an accident or your vehicle gets stolen. While this may seem straightforward at first glance, there are several layers to this type of policy that you need […]
July 31, 2023
Via: Repairer Driven NewsA number of repair shops have come forward with accounts of how insurance companies are using a collections agency to “intimidate” them into paying for things like rental car fees and total loss charges. Repairer Driven News spoke to three […]
July 25, 2023
Via: Repairer Driven NewsAuto insurance premiums are still on the rise leading consumers, now more than ever, to continue shopping for better deals, according to J.D. Power and TransUnion. “Consumers are not relenting in their desire to find a more attractive premium for […]
July 20, 2023
Via: Insurance BusinessThe US saw a significant surge in auto claim severity during the pandemic years, according to a new report from the Insurance Research Council. Claim severity reportedly began accelerating in the mid-2010s, while auto claim frequency declined over the past […]
May 19, 2023
Via: Insurance JournalDrivers are kicking the tires and trading up for new auto insurance policies. In the first quarter, new policy growth rate was up 17% over the same period in 2022, and a record-breaking shopping growth rate was up 10.2% compared […]
March 30, 2023
Via: Insurance JournalThe South Carolina Supreme Court on Wednesday handed down three opinions that resolve two questions about insurance law. One decision will probably disappoint auto insurers; another will please carriers in the liquor liability line. In two separate decisions, the high […]
February 23, 2023
Via: Insurance BusinessLouisiana Senator Jay Luneau has filed a bill seeking increased fairness in how auto insurance rates are determined, by prohibiting insurers from using policyholders’ genders as a factor in setting rates. The bill, SB11, was filed for the regular legislative […]
February 20, 2023
Via: Reinsurance NewsAuto and home insurance rates in the US lagged behind the inflation rate in 2020 and 2021, laying the groundwork for the premium increases which occurred last year and will continue into 2023, according to the Insurance Information Institute (Triple-I). […]
February 9, 2023
Via: Insurance BusinessThe American Property Casualty Insurance Association (APCIA), the Illinois Insurance Association (IIA), and National Association of Mutual Insurance Companies (NAMIC) have together issued a statement decrying a newly announced Illinois bill which would limit the number of non-driving factors auto […]
February 2, 2023
Via: Insurance JournalAs it had warned last month, Allstate Corp. reported a fourth quarter 2022 loss of $310 million as losses from auto insurance outpaced an increase in revenue. Results were in comparison to net income of $790 million for Q4 2021. […]
January 25, 2023
Via: Insurance BusinessJ.D. Power has published the latest edition of its auto insurance quarterly shopping trends report, and found that in the fourth quarter of 2022, there was actually a noticeable increase in auto insurance shopping activity in America. The report – […]
October 28, 2022
Via: Insurance BusinessAs the volume of vehicle collisions is slowly returning to pre-pandemic levels, with repair costs rising to all-time highs, and replacement parts becoming much harder to source, US auto insurance customer satisfaction levels for 2022 have dropped, a new report […]
October 14, 2022
Via: Insurance BusinessAn insurance agency association is calling for California Insurance Commissioner Ricardo Lara to reconsider his moratorium on auto insurance rate filings, as the group claims that the measure has severely limited options for consumers in the state. “Commissioner Lara’s Rate […]
October 11, 2022
Via: Reinsurance NewsAccording to Insuramore, a provider of marketing services focusing on the insurance sector, despite the auto (motor) insurance sector remaining a tough market, some challengers are growing profitably. The firm’s recently published ranking for the market shows that its gross […]
August 30, 2022
Via: Insurance JournalMany of the automatic braking systems automakers are using to prevent vehicles from hitting pedestrians do not work well in the dark, according to test results released Tuesday by the U.S. non-profitgroup Insurance Institute for Highway Safety. The group, backed […]
August 29, 2022
Via: Insurance JournalAnother national insurance company has agreed to settle a class-action lawsuit alleging it underpaid hundreds of auto insurance claims. A federal court in Mississippi this month signed off on a confidential settlement in a suit brought by Mississippi drivers against […]
July 5, 2022
Via: Reinsurance NewsLosses are predicted in 2022 and 2023 for the UK motor insurance market due to underlying inflation and premium rate falls, according to EY’s UK Motor Insurance Results. The professional services firm predicts that the sector’s net combined ratio (NCR) […]
April 21, 2022
Via: Insurance JournalThe cost of a comprehensive car insurance policy in Britain touched an 18-month high in the first quarter and will continue to increase on the back of rising inflation and regulatory changes, a survey showed on Thursday. UK motorists now […]
April 20, 2022
Via: Insurance BusinessMore than 90% of auto insurance customers who switch companies save money – but most policyholders are missing out by failing to shop around, according to a new study by insurance comparison site ValuePenguin. According to the study, 92% of […]