auto insurance News

Kemper Corp. Acquires Infinity Property & Casualty of Alabama for $1.4B

Birmingham, Ala.-based Infinity Property and Casualty were bought for $1.4 billion. Kemper Corp. acquired the auto insurance provider in a cash and stock transaction, making it one of the largest nonstandard auto insurers in the country, Al.com reported. The merger …

Clearcover Insurtech Announces California Launch

Clearcover, a data-driven auto insurtech startup, announced the California launch of its platform today and that it is officially selling car insurance policies to residents in the state. The Chicago, Ill-based firm is promising that “consumers can save hundreds of …

Billionaire Chief of SoftBank Bets on Autonomously Driven World: Opinion

It has almost become a refrain: just what is Masayoshi Son up to? After plowing money into companies as diverse as Uber Technologies Inc., office rental specialist WeWork Cos Inc. and fintech lender SoFi, the billionaire chief of SoftBank Group …

First-Hand Knowledge of Industry’s Problems Led to Idea for InsurePal’s Social Proofing

After spending 15-plus years in and around the insurance industry, Matt Peterman and Tom Volk had first-hand experience of the industry’s systemic problems with fraud and rising premiums. They decided to do something about it, developing what they think will be …

Distributed Social Proof Insurance: The Next Industry Game-Changer?

InsurTech startup InsurePal is developing an insurance platform that aims to revolutionize the industry’s model for risk selection and fraud prevention by “social proofing” insurance products. With a pilot for motor insurance due to be launched in the UK within …

2 Dead After more than 100 Vehicles Crash on Icy Missouri Roads

Authorities say at least two people have died in a series of crashes involving more than 100 vehicles on snowy and icy Missouri highways. The Kansas City Star says the series of wrecks began around 2 p.m. Sunday, with the …

Root Approved to Sell Auto Insurance in Arkansas

Columbus, Ohio-based insurtech company, Root Insurance, has received authorization to sell property/casualty (excluding workers’ compensation) products in Arkansas. Root is a private passenger auto insurance company that began operations in June 2016. Root is wholly owned by IBOD Inc. and …

California Commissioner Wants Halt to Moratoriums in Wildfire Areas

California Insurance Commissioner Dave Jones has issued a formal notice to insurers directing them to cease any and all moratoriums on auto insurance and reminding them that California law prohibits the practice. Jones issued the notice in response to insurers …

California Brothers Nabbed in Staged Auto Accident Ring Involving 20 Others

A two-year investigation has netted 22 suspects in an auto fraud ring in California that cost insurers hundreds of thousands of dollars. Brothers Angel Topete, 36, and Joshua Topete, 34, both of San Martin, Calif., were arrested on numerous felony …

UK Auto Insurer Direct Line Offers Tesla Drivers 5% Discount if They Use ‘Auto-Pilot’

Britain’s largest motor insurer Direct Line is offering Tesla Inc drivers in Britain a 5-percent discount for switching on the car’s autopilot system, seeking to encourage use of a system it hopes will cut down on accidents. The move – …