Latest Auto Headlines
All the headlines from our Auto Topic Page, ordered by recency.
Allstate Reports Strong Q2 with Profit Up 49% Despite Pandemic
Aug 10 2020 // What pandemic? Allstate’s doing just fine. The giant personal lines insurer reported net income of $1.2 billion for the second quarter, an increase of 49% compared to the prior year quarter. Underwriting income...
Progressive Q2 Profit Up on Fewer Accidents; CEO Says ‘Black Lives Matter,’ Vows Action
Aug 10 2020 // “Black Lives Matter to me and they matter to us as an organization,” Progressive Corp. CEO Tricia Griffith wrote in a letter to shareholders. In the letter that was mostly commentary on second quarter results,...
Autonomous Vehicle Design Should Take Nothing for Granted
Aug 10 2020 // Driver mistakes play a role in virtually all crashes. That’s why automation has been held up as a potential safety game changer. But autonomous vehicles might prevent only around a third of all crashes if automated...
Louisiana Governor Approves New Limits on Car Accident Lawsuits
Aug 10 2020 // Gov. John Bel Edwards in July signed into law changes to Louisiana’s civil litigation rules aimed at restraining the money people can win against insurance companies and businesses in car accident lawsuits. The...
Legacy Specialist DARAG Buys Luxembourg Auto and Travel Insurer, Arisa Assurances
Aug 6 2020 // DARAG Group Ltd., the Malta-based legacy acquirer, announced the acquisition of Arisa Assurances SA, an automobile and travel insurance company based in Luxembourg. The transaction will be conducted through DARAG’s...
‘Defensive Dining’: Keeping Makeshift Outdoor Eateries Safe From Storms, Drivers
Aug 5 2020 // Outdoor spaces hastily fancified for low-risk dining are keeping thousands of U.S. restaurants from closing permanently. But crashing the dinner party are tropical storms, rats — and the occasional out-of-control...
Officials: Vehicle Malfunction Sparked Southern California Wildfire
Aug 4 2020 // A wildfire in mountains east of Los Angeles that has forced thousands of people from their homes was sparked by a malfunctioning diesel vehicle, fire officials said Monday. The vehicle spewed burning carbon from its...
UK Insurer Direct Line’s H1 Profits Beat Forecasts as Auto Claims Drop During Lockdown
Aug 4 2020 // Insurer Direct Line gave a double bonus to shareholders on Tuesday as first-half profits beat expectations due to a slump in motor claims as Britons drove less during the coronavirus lockdown. Britain’s biggest car...
New Value Insurance MGA Offering Non-Standard Auto in Alabama
Aug 4 2020 // Value Insurance MGA, a new Birmingham, Ala., domiciled managing general agent specializing in non-standard auto insurance, is now offering a personal lines auto product in the state. Value MGA founder Daniel Feigenbaum has...
Ohio Auto, Home Insurance Premiums Still Among Lowest in U.S.
Aug 3 2020 // On average, home and auto insurance premiums in Ohio remain among the lowest in the country, the insurance department says. The Ohio Department of Insurance reported that a recent analysis shows the average homeowners...
Texas Issues Price Comparison Data Call to Auto/Residential Insurers
Jul 28 2020 // The Texas Department of Insurance (TDI) has issued a data call to insurance companies writing personal automobile and residential property policies in the state. The department said the information is needed for price...
IAT Insurance Adds Open Lot Coverage for Franchised Auto Dealerships
Jul 28 2020 // IAT Insurance Group has expanded its multi-line DealerPack offerings for franchised auto dealerships to include dealers open lot insurance. Key elements of the policies include: Available as an option within the DealerPack...
Girl Killed in Michigan When Construction Equipment Falls Onto Car
Jul 27 2020 // A construction vehicle fell from a trailer onto a car at a suburban Detroit, Michigan, intersection on July 25 and killed a 10-year-old girl inside, police said. The backhoe loader was being pulled by a dump truck that...
Geico Sued for Alleged ‘Woefully Inadequate’ Coronavirus Auto Insurance Discount
Jul 24 2020 // Berkshire Hathaway’s Geico, the country’s second largest auto insurer, is being targeted by a potential class action for allegedly overcharging its policyholders during the pandemic. A lawsuit filed in federal...
New York ‘Bad Faith’ Bill Repeats Mistakes of California and Florida
Jul 23 2020 // The State of New York may be on the verge of making the same mistake that has driven Florida auto insurance premiums through the roof, and that did the same in California until its high court learned the error of its...
Home, Auto MGA Branch Plans Conversion to Reciprocal Exchange After Raising $24M
Jul 23 2020 // Branch, an insurtech startup focused on bundling digital home and auto insurance, is eying national expansion through 2021 after nailing down $24 million in new financing. The managing general agent (MGA) also plans to add...
Traffic Down 25%, Motor Vehicle Fatalities Down 8% in May During Lockdowns
Jul 23 2020 // Preliminary estimates indicate that deaths from motor vehicle accidents fell in May but the death rate per miles driven jumped considerably. According to the National Safety Council, it was the third month in a row when...
Ohio’s Wallace & Turner: Turning 150 During a Pandemic
Jul 22 2020 // What’s the secret of longevity for an insurance agency, or really any business, that has been in operation for 150 years and shows no sign of slowing down? “At the end of the day you take care of your...
Louisiana Governor Approves New Limits on Car Accident Lawsuits
Jul 20 2020 // Gov. John Bel Edwards has signed the business lobby’s main priority of the last election cycle into law, changes to Louisiana’s civil litigation rules aimed at lessening the money people can win against...
Personal Lines Insurance Poised to Turn Profit in 2020 As Auto Claims Fall: Fitch
Jul 20 2020 // 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...
