Vehicle theft rates continue to put pressure on the personal auto insurance market. CCC Intelligent Solutions said in its year-end report that the number of vehicle thefts in the U.S. increased 2% in the first half of 2023 after rising …
Claim severity for bodily injury and property damage increased by 35% since 2019, while collision claim severity has jumped 40%, LexisNexis Risk Solutions says in a new report. The data broker’s 2023 U.S. Auto Insurance Trends report says the amount …
In one of his last official acts in office, Massachusetts Gov. Charlie Baker yesterday signed a bill designed to curb the theft of catalytic converters by regulating the purchase of the automobile parts by scrap metal dealers. Scrap metal buyers …
U.S. District Attorney Vanessa Roberts Avery in Connecticut announced the unsealing of a nine-count indictment that charges five men with federal offenses related to their participation in a stolen catalytic converter trafficking ring. The indictment, returned by a federal grand …
A proposed bill was heard last month in the Massachusetts legislature that aims to place a time limit on auto insurance claims investigations and would make investigating insurers responsible for premium payments until the cause of loss is determined. The …
The Texas House of Representatives recently advance two pieces of legislation that address claims arising out of vehicle accidents. House Bill 359 The Texas House May 7 passed House Bill 359, which addresses delaying tactics practiced by insurers in claims …
Auto theft appears to have increased considerably in 2020 compared to 2019, reversing two years of auto theft declines. A preliminary analysis by the National Insurance Crime Bureau shows there were 873,080 auto thefts in 2020, or almost 2,400 a …
Having fewer auto insurance claims during the coronavirus pandemic appears to have given insurers time to refine their customer experience and deliver higher higher quality claims service. According to the J.D. Power 2020 U.S. Auto Claims Satisfaction Study, a 22% …
Texas Gov. Greg Abbott has suspended a state statute in ordered to help facilitate the payment of insurance claims for vehicles that were totaled by Hurricane Harvey, the governor’s office said. Abbott temporarily suspended a law that required a 30-day …
The risk of U.K. drivers having an accident in the month following the clocks changing at the end of October* increases by 10 percent, according to Insure The Box, the telematics car insurance provider. And if they are driving between …
