Latest Auto Headlines
All the headlines from our Auto Topic Page, ordered by recency.
Allstate Looking to Form Separate Calif. Subsidiary
May 19 2003 // While noting it is a challenging market, Allstate Corp. is looking to expand its presence in the California auto market by establishing a separate company for its state operations that would focus specifically on the auto...
IBC’s AIM Conference Brings Together Insurers and Car Makers
May 15 2003 // The opening in Toronto of the Insurance Bureau of Canada’s sixth annual Automotive Insurers and Manufacturers Forum gave insurance and automotive professionals from across Canada a valuable opportunity to share...
Esurance Insurance Co. Offering Auto Program in Illinois
May 15 2003 // Esurance Insurance Co. is offering a new market for personal lines auto insurance in Illinois. Policy limits are $250/$500; deductibles are $250/$500/$1,000. The product is an admitted market with an ‘A’...
N.M. Court of Appeals Rejects Auto Liability Stacking
May 12 2003 // The New Mexico Court of Appeals recently rejected the theory of liability stacking with regard to automobile insurance, the American Insurance Association (AIA) reported. In the case of Linda Ann Slack, et al. v. James...
AAI Welcomes Colo. Transition From No-Fault to Tort-Based Auto System
May 12 2003 // Recently, Colorado Gov. Bill Owens (R) signed into law AB 1188, authored by Rep. Keith King (R-21 El Paso), to allow the state’s auto insurance system to transition from a no-fault system to a tort reparation system...
PIANJ President Says Governors’ Plan May Ease Auto Insurance Crisis
May 12 2003 // David Madara, President of The Professional Insurance Agents of New Jersey Inc.and the organization’s Legislative Representative Leon Zimmerman, attended a press conference on Friday with Governor James E. McGreevey,...
Detroit Auto Insurance Fraud Ring Busted, AG Says
May 9 2003 // A 16-member auto insurance fraud ring operating in the Detroit metro area has been busted, according to Michigan’s attorney general, Michael Cox. An investigation conducted by the National Insurance Crime Bureau...
PIANJ Offers Suggestions to Help Counter State’s Auto Insurance Availability Crisis
May 8 2003 // Following the recent hearings on reforming New Jersey’s auto insurance coverage regulations, the Professional Insurance Agents of New Jersey Inc. suggested that the problem with auto insurance availability stems from...
Report Says U.S. Insurance Industry Loses $13.7B Annually Due to Auto Premium Rating Error
May 7 2003 // Quality Planning Corporation (QPC), the Rating Integrity Solutions Company, released its annual Premium Rating Error report, detailing just how much often-overlooked premium rating errors diminish the overall profits of...
N.J. Reform Approved by Assembly Committee
May 6 2003 // The General Assembly Banking and Insurance Committee in New Jersey approved legislation Monday that will reportedly correct years of politically influenced auto insurance regulations that have eroded the availability of...
NAII Says No-Fault Reform Legislation is No Bargain for Colo. Residents
May 5 2003 // Colorado’s major automobile insurers are reportedly urging lawmakers to reject a last ditch no-fault auto insurance reform plan that would offer no cost saving for policyholders. Members of the National Association...
Ins. Auto Auctions Acquires Utah’s Mountain States Salvage Pool
May 1 2003 // Insurance Auto Auctions Inc., a provider of automotive salvage and claims processing services in the United States, announced the acquisition of Mountain States Salvage Pool located in Ogden, Utah. Situated just north of...
NJ Creates Task Force on Urban Area Insurance
May 1 2003 // New Jersey’s Insurance Commissioner, Holly C. Bakke, has implemented the call by Governor James E. McGreevey to tackle the special problems the state’s urban consumers face when looking for insurance, with an...
PIANY Says Increased Motor Vehicle Fees are Misdirected
May 1 2003 // The Professional Insurance Agents of New York State Inc. has issued a statement indicating that the state budget proposal to raise the current $1 annual Motor Vehicle Law Enforcement Fee to $5 is misdirected. “If the...
Facts and Findings about Windshields
May 1 2003 // Windshields are the number one insurance claim in the United States. Thirty percent of auto insurance claims are windshields. Edge cracks account for approximately 70-80% of these windshield replacement claims. Edge cracks...
State Auto Financial Profit Up 60% Over First Quarter 2002
Apr 30 2003 // Columbus, Ohio-based State Auto Financial Corp. announced record net earnings of $21.1 million for the first quarter of 2003. GAAP net earnings were 53 cents per diluted share, versus 33 cents for the same period last...
Vesta Reports Improvements in 1st Qtr. Results
Apr 30 2003 // Birmingham, Ala.-based Vesta Insurance Group Inc. reported that for the first quarter 2003, its non-standard auto unit generated $4.9 million in net income and its standard auto division brought down its combine ratio to...
Safeco Posts First Underwriting Profit in Four Years
Apr 28 2003 // Safeco reported first-quarter net income of $90.0 million, or $0.65 per diluted share in a release today. The numbers mark a significant improvement over the same period in 2002, when Safeco generated net income of $63.6...
NYSID Announces Arrest of Man Who Sold False N.J. Auto Insurance to New Yorkers
Apr 25 2003 // New York’s Superintendent of Insurance Gregory V. Serio announced that a joint investigation with the Manhattan District Attorney’s Office and New York Police Department has resulted in the arrest of Jose...
Tort-based Auto Insurance Bill Advances in Colo.
Apr 24 2003 // The Colorado House passed legislation April 21 that would replace the state’s current no-fault auto insurance system with a tort-based system. Meanwhile, the House is also expected to act later this week on...
