Latest Auto Headlines
All the headlines from our Auto Topic Page, ordered by recency.
Commissioner Notes New Auto Insurance Rate Reductions in Louisiana
Aug 18 2020 // Louisiana’s insurance commissioner has approved new rate decreases for private passenger auto policies for two major auto insurers in the state. Insurance Commissioner Jim Donelon has approved Progressive Insurance...
Auto Insurance Shopping Rebounds After Dropping During Spring
Aug 18 2020 // Auto insurance shopping and new business growth rebounded in May and June after a drop in late March and early April due to COVID-19 shutdowns, civil unrest and other events. However, there was little impact on the annual...
Root Insurance Hopes Others Join Its Vow to End Use of Credit Scoring
Aug 18 2020 // Root Insurance pledged to eliminate the use of credit scoring from its car insurance pricing model by 2025, a move the insurtech said will help remove bias and discrimination from the process. “Eliminating credit...
Pandemic Boosted Personal Auto Insurers’ Profits in the Short-Term
Aug 17 2020 // As bad as the coronavirus pandemic has been for many insurance lines, personal automobile profits have soared thanks to reduced driving, as quarantines and shelter-at-home restrictions took hold across the United States...
Investors Back Startups for Commercial Auto, Climate Risk, High Risk Homes
Aug 14 2020 // An insurtech managing general agency focused on commercial auto insurance has raised $16 million in new Series A financing, a climate-risk related platform has $4.2 million in new seed financing, and a home insurance...
Swiss Re Builds Risk Scoring System, Aiming to Reward Safe Cars with Lower Premiums
Aug 14 2020 // A car owner should be able to pay lower insurance premiums for driving a car with safety features, such as automated braking that stops the car when the driver is distracted or lane keep assist systems that help prevent a...
Tesla Says Hedge Fund Is Behind Ex-Employee’s Lawsuit
Aug 13 2020 // Tesla Inc. says hedge fund Cable Car Capital LLC, which is shorting the company’s stock, is funding a former employee’s allegations that the company smeared him by accusing him of sabotage and stealing...
Viewpoint: Michigan Auto Insurance Reform Is Here. Agents, Are You Ready?
Aug 12 2020 // Finally, there is good reason to believe Michigan will drop the infamous distinction of being the one of the most expensive states in the country in which to insure a vehicle. As of July 2, the state’s drivers now...
Federal Auto Safety Agencies Face Scrutiny by Inspector General
Aug 12 2020 // The Transportation Department’s Office of Inspector General said on Tuesday it would audit oversight of U.S. vehicle safety standards, noting that more than 36,000 Americans were killed in traffic accidents in...
UK Auto Insurer Admiral Reinstates Special Dividend as Claims Drop During Lockdown
Aug 12 2020 // Insurer Admiral reinstated its special dividend on Wednesday as it reported a jump in first-half earnings, the latest car insurer to benefit from a slump in claims as coronavirus lockdowns kept Britons off the road in...
Berkshire Insurance Units Hold Their Own While Pandemic Slams Other Buffett Firms
Aug 10 2020 // Berkshire Hathaway Inc. had a tough second quarter with the pandemic taking a toll on most of its operating businesses including Precision Castparts aircraft parts, the BNSF railroad, Occidental Petroleum Corp., Kraft...
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...
