Lemonade announced the launch of car insurance in Ohio, making the Buckeye State the third state to feature availability of Lemonade‘s newest environment-friendly product. The New York-based insurtech pledges to offer better rates and coverage for electric vehicles and hybrid …
The U.S. auto insurance market experienced market disruption due to pandemic-related shopping volatility, an uptick in dangerous driving, policy renewal delays and fewer claims. But by the end of 2020, shopping volumes closed 5.3% higher than in 2019 and net …
After a profitable 2019, the U.S. personal lines insurance sector is positioned to see underwriting profits in 2020 even with considerable economic uncertainty from the coronavirus pandemic, according to a report from Fitch Ratings. The ongoing pandemic is “substantially affecting” …
Direct-to-consumer auto insurers appear to be gaining serious market traction, according to a report from J.D. Power. The firm reports that auto insurance revenue hit $245 billion in 2018, reflecting industrywide growth of 6.2 percent. But 54 percent of those …
Steady improvement for U.S. personal auto insurance companies has culminated in the sector’s best underwriting performance in 10 years, according to Fitch Ratings in a report. The market improvement was driven by the three biggest auto insurers. The U.S. personal …
The battle among auto insurers to win and retain business is as heated as it has ever been. A combination of record-low volumes of new insurance shoppers, consistent price competition among insurers and emerging “insurtech” disruptors on the horizon have …
Nationwide Mutual Insurance Company has begun selling its Nationwide-branded auto insurance in New Jersey this month for the first time since 1981. “So we’ve been writing business now for about two weeks and so far, so good. It’s obviously very …
New Jersey Department of Banking and Insurance Commissioner Ken Kobylowski said today Nationwide Mutual Insurance Company has been approved to write auto insurance in New Jersey, and the company will begin offering auto policies in August. Nationwide left the New …
Esurance, the online car insurance seller owned by Allstate Corp., is betting that bundling auto and home policies will help it compete with Berkshire Hathaway Inc.’s Geico unit and Progressive Corp. Esurance started underwriting homeowners coverage in Wisconsin and plans …
