Latest Auto Headlines
All the headlines from our Auto Topic Page, ordered by recency.
Liberty NJ Auto Rate Increase Approved, Best Downgrades State Farm Indemnity
Nov 21 2001 // The ongoing battle between New Jersey’s automobile insurers and the State’s politicians and regulators recorded two new developments yesterday with the announcement that Liberty Mutual Fire Co. and its...
IRC Survey Finds Most American Would Use Competitive Auto Repair Parts
Nov 20 2001 // More than half of respondents to the Insurance Research Council’s most recent survey of a cross-section of Americans would be willing to use competitive auto repair parts if they were assured of the parts’...
Americans Indicate They Would Shop Online
Nov 19 2001 // While few Americans have shopped on the Internet for auto insurance, many indicate they will shop online for such insurance in the future, according to the Insurance Research Council’s (IRC) most recent survey of a...
Montemayor Approves Higher Auto Benchmark Rates for Texas
Nov 19 2001 // Citing growing numbers of collision, uninsured motorist, and property damage liability claims in the state, Texas Insurance Commissioner Jose Montemayor approved an increase in private automobile benchmark rates. While...
Ohio Director Files Action to Intervene in Class Action Lawsuits
Nov 16 2001 // Ohio Insurance Director Lee Covington filed court actions Nov. 13 to intervene in four class action lawsuits that could cost Ohio insurance residents hundreds of millions of dollars. Covington filed the motions to...
Sacramento Man’s Burglary Report Lands Him
Nov 16 2001 // A Sacramento man was arrested Nov. 13 on one felony count of insurance fraud. Peter Perkins, 20, self-surrendered and was booked into the Sacramento County Jail, with bail set at $5,000. If convicted, Perkins could face up...
Preserver Posts 3Q, Nine Month Loss; Notes Improvement in NJ Auto
Nov 15 2001 // New Jersey-based Preserver Group announced a third quarter net after tax loss of $199,860, and a nine month net after tax loss of $306,247, even as it noted that its operations in the State’s private passenger...
NAII Claims Utah Ruling Was Flawed
Nov 13 2001 // A Utah Supreme Court decision reinstating a $145-million punitive damages award against State Farm Mutual Automobile Insurance Co. in a bad-faith case also upheld “irrelevant” admission of evidence that...
ALLIANCE STUDY FINDS EXTRA COSTS
Nov 12 2001 // Rebuilding an automobile from the ground up using car company crash parts costs more than four times the car’s original retail price, according to a study commissioned by the Alliance of American Insurers. Even...
Lovers Take Low Road over Coveted Car
Nov 12 2001 // CDI criminal investigators arrested Tracy Denise Thorton of Sacramento on two counts of insurance fraud and one count of filing a false police report. Thorton, 23, surrendered to authorities and was booked into the...
Auto Arrest Warrants Issued in Los Angeles
Nov 6 2001 // The Organized Auto Fraud Interdiction Task Force announced the execution of nine arrest warrants as well as the execution of nine search warrants in Los Angeles, North Hollywood and in the city of Glendale. The search...
Gender Rating Explored in Kentucky
Nov 5 2001 // If gender is eliminated from the factors Kentucky insurers use to determine auto rates, youthful female drivers state-wide would pay 6.8 percent more for their auto insurance premiums, according to a recent study. The...
AIA FOR TOUGHER TRUCK STANDARDS
Nov 5 2001 // The American Insurance Association (AIA) urged delegates from Mexico, Canada and the U.S. meeting in Ottawa under the North American Free Trade Agreement (NAFTA) to adopt and enforce more rigorous cross-border trucking...
NAIC Adoption of Special Purpose Reinsurance Vehicle Model Act Aids States
Nov 2 2001 // (NAIC) adoption of the Special Purpose Reinsurance Vehicle (SPRV) Model Act will provide a template for states to create legislation that will enable onshore securitization of insurance risk for natural catastrophes. The...
Alliance Study Proves Car Company Monopoly on Crash Parts is Costly to Consumers
Oct 31 2001 // Rebuilding an automobile from the ground up using car company crash parts costs more than four times the car’s original retail price, according to a study commissioned by the Alliance of American Insurers. Even...
Large-Scale California Auto Insurance Fraud
Oct 31 2001 // The Organized Auto Fraud Interdiction Task Force announced Oct. 25 the execution of search warrants on nine locations and the arrests of five individuals allegedly involved in a large-scale auto insurance fraud ring. The...
Insurance Auto Auctions Retains Firm to Standardize Business Processes
Oct 30 2001 // Insurance Auto Auctions Inc., a provider of automotive salvage and claims processing services headquartered in Schaumburg, Ill., announced that it has retained Synergetics Installations Worldwide Inc., a New...
Now It’s Stolen, Now It’s Not
Oct 29 2001 // A joint investigation by the CDI and the Tulare County District Attorney’s Auto Insurance Fraud Unit led to the sentencing of Enrique Medina, 25, who pled guilty prior to his preliminary hearing. Medina was sentenced...
The Midland Company Reports Third Quarter Results
Oct 24 2001 // Cincinnati, Ohio-based The Midland Company, a highly focused provider of specialty insurance products and services, reported third quarter 2001 results ahead of its previous announcement. For the quarter ended Sept. 30,...
SAFECO Reports 3Q Results, Strengthens Reserves by $240M
Oct 23 2001 // SAFECO reported third-quarter income, before charges, of $7.8 million or $0.06 per diluted share. Including $240 million in reserve strengthening and previously announced restructuring charges, SAFECO posted a net...
