auto insurance News

How Coronavirus Has Affected Auto Insurance Shopping

This year began with auto insurance buyers shopping around more than ever but by mid-March shopping began to slow down before returning to normal a few weeks later. According to the data firm LexisNexis, shopping has closely mirrored other pandemic …

Allstate Credits Risk Management During Q1; Eyes Second Coronavirus Driver Refund

Allstate Corp. reported that its adjusted net income rose 47% in the first quarter to $1.14 billion, a jump of 47%, thanks to higher underwriting income and lower catastrophe costs, compared with the quarter one year ago. The highlights for …

Mercury General in California Reports 1Q Loss of $139M

Mercury General Corp. this week reported a first-quarter loss of $139.2 million, after reporting a profit in the same period a year earlier. The Los Angeles-based company said it had a loss of $2.51 per share. Earnings, adjusted for investment …

Delaware Auto Insurers Issue Rebates, Reduce Rates During Coronavirus Pandemic

The Delaware Department of Insurance has announced that many consumer-friendly automobile insurer actions are being implemented due to reduced vehicle use throughout the COVID-19 pandemic. As filed with the department, these actions represent millions of dollars being returned to or …

Auto Insurers Will Return Approximately $32M in Premiums to N.H. Consumers

At least 23 companies selling auto insurance in New Hampshire are returning premium to their policyholders, New Hampshire Insurance Commissioner Chris Nicolopoulos announced. These companies represent more than 90% of the written auto insurance premium in the state. The premium …

The Concord Group Announces Plan to Return $2.4M to Policyholders During Pandemic

The Concord Group Insurance Companies has announced a plan to deliver $2,400,000 in return premium and expand several underwriting guidelines and coverage limits to its more than 150,000 policyholders throughout the four New England states in which the company does …

Preferred Mutual Launches Relief Program for Auto Customers During Pandemic

Preferred Mutual Insurance Company has announced its Stay Home, Stay Assured Auto Program, which will provide more than 65,000 customers with a 15% credit on their April and May personal auto insurance premiums. The credit will be given to New …

Pennsylvania’s Erie Insurance Announces $200M in Relief for Customers

Erie Insurance, based in Erie, Penn., will provide $200 million in dividends directly to personal and commercial auto insurance customers in the 12 states and the District of Columbia where the company does business. This relief represents about 30% of …

Mass. Attorney General Calls on Division of Insurance to Lower Auto Premiums

Massachusetts Attorney General Maura Healey’s office has called on the Massachusetts Division of Insurance (DOI) to direct all auto insurance companies doing business in the state to lower premiums during the COVID-19 pandemic. In a letter sent Monday to Massachusetts …

New York’s NYCM Insurance Announces Credit to Auto Policyholders

NYCM Insurance will be issuing a credit to its approximately 230,000 auto policyholders. All auto policyholders as of April 30, 2020, will receive a 15% credit back from their April and May premiums. Customers will not need to do anything …