Auto - Latest Insurance News

Hartford’s SPICE Program Augments Truck Equipment Coverage

Feb 17 2004 // The Hartford Financial Services Group, Inc. unveiled a “newly enhanced STEP SPICE policy endorsement,” which will augment coverages to its highly successful multi-line program for manufacturers, distributors,...

Mich. Commissioner Launches Auto Rate Inquiry

Feb 16 2004 // Michigan Office of Financial and Insurance Services (OFIS) Commissioner Linda A. Watters has launched the second phase of her investigation into rising home and auto rates in Michigan. Commissioner Watters issued a letter...

ACE Select Markets Chosen by NCCC as Exclusive Provider of Collector Car Insurance

Feb 13 2004 // ACE Select Markets, a division of ACE USA, the U.S.-based retail operations of the ACE Group of Companies, announced that it has been selected by the National Council of Corvette Clubs (NCCC) to be the exclusive provider...

PCI Responds to CBS News Story on Insurer-Owned Repair Shops

Feb 13 2004 // The Property Casualty Insurers Association of America (PCI) issued a stern response to a Wednesday, Feb. 11 CBS Evening News story that reportedly contained unfair allegations from the auto body industry that insurer-owned...

Mich. Auto Rates Rise Slower Than National Average

Feb 12 2004 // Auto insurance rates for Michigan policyholders rose slower than the national average in 2003, according to the Insurance Institute of Michigan (IIM). Michigan’s auto insurance rates increased an average of 7 percent...

N.J. Man Pleads Guilty to Possessing Phony Auto I.D. Card

Feb 12 2004 // New Jersey Division of Criminal Justice Director Vaughn McKoy announced that a Camden County man has pleaded guilty to possessing a phony automobile insurance identification card in order to avoid obtaining legitimate...

Texas Arson Hotline Caller Given First Reward

Feb 12 2004 // A $500 reward has been handed over to a man who called the Texas State Fire Marshal’s Office Arson Hotline to report a case of arson. According to the Insurance Council of Texas, the phone call led to the arrest and...

Infinity Property and Casualty Corp. Releases Q4 Results

Feb 10 2004 // Alabama-based Infinity Property and Casualty Corporation, a provider of personal automobile insurance with an emphasis on nonstandard auto insurance, reported net earnings for the fourth quarter of $19.5 million or $0.94...

Residual Markets Continue to Burden Auto Insurers

Feb 9 2004 // A new report by the Property Casualty Insurers Association of America (PCI) shows that residual market plans for private passenger auto insurance continue to result in significant losses for insurance companies. But one...

N.C. Department Responds to Auto Rate Filing

Feb 9 2004 // Insurance Commissioner Jim Long last week announced the receipt of the 2004 auto insurance rate filing from the North Carolina Rate Bureau (NCRB). The NCRB, an independent organization representing all auto insurance...

AIA Calls for Standardized Use of Event Data Recorders to Improve Vehicle Safety

Feb 9 2004 // At a recent meeting of the national leadership of the American Automobile Association (AAA), the American Insurance Association (AIA) urged a cooperative effort between motorists and insurers to call for the...

In Mass., Good Drivers Lose Discounts While Employer Groups Retain Theirs

Feb 9 2004 // Only three of the 19 companies still writing private passenger auto insurance in Massachusetts will offer discounts to safe drivers this year. Five years ago, there were one-third more writers of the coverage and most of...

NEW HAMPSHIRE AUTO RULES:

Feb 9 2004 // A New Hampshire legislative panel with responsibility for reviewing regulatory changes has cleared the way for a streamlining of the state’s automobile insurance system. The Joint Legislative Committee on...

N.J. AUTO MAY NOT BE UNPROFITABLE:

Feb 9 2004 // New Jersey’s new image as the poster child for insurance reform was looking a bit tarnished following the publication of statistics released by the National Association of Insurance Commissioners in January. They...

Feb 9 2004 // A recent national survey by Mayfield Village, Ohio-based vehicle insurer Progressive, found that new car owners know much more about the features of their vehicle than they do about the insurance that protects it,...

Meeting the Challenge of Department of Motor Vehicles Reporting

Feb 9 2004 // Today, more than 20 states—and the number keeps rising—require insurance companies to report vehicle insurance information to their department of motor vehicles (DMV). The states want the information to enforce laws...

AUTO INSURANCE, WORKERS’ COMP EMERGE AGAIN AS TOP LEADING LEGAL ISSUE TRENDS:

Feb 9 2004 // Workers’ compensation and automobile insurance laws accounted for nearly 40 percent of the new property/casualty-related statutes enacted by state legislatures last year, according to the fifth annual analysis of...

Talking Tort with Colorado Commissioner Doug Dean

Feb 9 2004 // Washington Governor Bill Owens appointed Doug Dean commissioner of Insurance in January 2003. As commissioner, Dean heads the Division of Insurance, which is one of eight divisions within the Department of Regulatory...

Colorado Top 40 Commercial & Private Passenger Auto Insurers

Feb 9 2004 // The information provided below was taken from the 2002 Colorado Insurance Industry Statistical Report. All figures quoted are acquired from information filed by each company with the Colorado Division of Insurance, and the...

Survey: New Car Owners Know Little About Insurance Coverage