March 15, 2024
Do motorist-assistance systems like GM’s OnStar feed data to auto insurers, resulting in higher premiums for some drivers? A south Florida man says indeed, they do, and has filed a proposed class-action lawsuit against General Motors and LexisNexis Risk Solutions, …
December 18, 2023
The departments of insurance in California, New York and New Jersey approved double-digit auto rate increases for Allstate in the three states that the carrier considered exiting in the absence of approvals, the Northbrook, Ill.-based carrier announced on Thursday. For …
August 18, 2023
Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market players. Profitability challenges in the …
August 9, 2023
North Carolina’s insurance commissioner has negotiated a smaller increase on auto insurance rates than the state’s rating agency had requested. The North Carolina Rate Bureau in February requested an average increase of 28.4% for private passenger auto insurance and a …
July 20, 2023
Allstate Corp. announced estimated catastrophe losses for the month of June of $1.01 billion, or $799 million, after-tax. June’s month catastrophe losses include 18 events estimated at $1.13 billion, with approximately 60% of the losses related to four wind and …
June 15, 2023
Allstate Corp. today released estimated catastrophe losses for the month of May of $885 million or $699 million, after-tax. There were a dozen events in May causing $893 million in catastrophe losses, Allstate said, but about 70% of losses were …
March 27, 2023
Georgia lawmakers have approved a bill that, if signed into law, would end the longstanding “use-and-file” mechanism on auto insurance rate filings in the state. The state Senate last week voted 49-2 in favor of House Bill 221, a measure …
December 9, 2022
Allstate’s chief executive officer said his company will likely continue pushing for auto insurance rate hikes next year, and he expects the carrier’s largest mutual competitor—State Farm—to move in the same direction. Speaking at the Goldman Sachs 2022 U.S. Financial …
April 21, 2022
The 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 …
March 3, 2022
The Delaware Insurance Department has issued a report critical of the use of gender in auto insurance rating and concluding that the state should end the practice as six other states have done. The report found that several of the …