Posts Tagged ‘auto’
Catalytic Theft Claims Triple in Two Years, Crime Bureau Report Finds
Insurance claims for catalytic converter thefts nationwide jumped by 288% in just two years, the National Insurance Crime Bureau said in a new report. Claims rose from 16,660 in 2020 to 64,701 in 2022. Half of the thefts were in California and Texas, the bureau found. “This new data is just a snapshot of…
Read MoreGeorgia Commissioner Wants Consumers to Stay Away from ‘Dirt-Cheap Insurance’
Georgia’s insurance commissioner is warning consumers to steer clear of Dirt-Cheap Insurance, an unlicensed outfit that he said has sold fraudulent policies in the state. Three people associated with Dirt-Cheap, Deamarkis Barber, Oluwatosin Oyediran, and Kamaria Berry, have been charged or are wanted in connection with alleged scams, Commissioner John King said in a…
Read MoreAttacks on Delivery Drivers Raise Safety Concerns Among Gig Workers
A homeowner fired shots at a couple’s car when they mistakenly turned onto his property while making an Instacart delivery. A Florida man was charged with killing and dismembering an Uber Eats delivery driver who brought food to his home. A woman was kidnapped and sexually assaulted while making a DoorDash delivery to a…
Read MoreJ.D. Power: Rising Premiums Tighten Auto Insurance Market as Customers Shop Deals
State Farm Tops List of Large Insurers Providing Satisfying Shopping Experience, While The Hartford Ranked Highest Among Midsize Insurers Saving money is the primary focus of consumers searching for auto insurance. Now in its 17th year, the J.D. Power 2023 U.S. Insurance Shopping Study highlights the increasing focus on cost as customers shop…
Read MoreAuto Insurance Shopping Rises as Consumers Seek Better Rate
Auto insurers have been forthcoming in their desire to achieve rate to match increases in claims costs and, so far in 2023, consumers are not standing by. According to a quarterly report from J.D. Power, in collaboration with TransUnion, the quote rate for auto insurance in the first quarter 2023 was 12.4% and…
Read MoreJudge Allows Roberto Clemente Jr. Agency Fraud Claim Against Allstate
The son of the late Major League Baseball Hall of Famer Roberto Clemente alleges that Allstate Insurance Co. committed fraud when it cancelled his family agency’s agreement after accusing them of fraud for using auto insurance discounts that the insurer instructed them to use. A federal judge last week rejected Allstate’s bid to dismiss…
Read MoreLyft Investors Call for More Safety Protections for Drivers
A group of Lyft Inc. shareholders is calling on the company to establish stronger safety protections for drivers, change its shareholder voting structure and subject directors to annual elections. SOC Investment Group — which represents pension funds that hold shares in the ride-hailing company — urged the company to publish an annual report on…
Read MoreU.S. Personal Auto Results Headed the Wrong Way. Is a U-Turn Possible?
Although the pandemic may appear more distant in the rearview mirror, its lasting impact on the personal auto insurance industry may be larger than initially expected. Private passenger automobile insurance is the largest segment of the U.S. property/casualty insurance industry, accounting for almost 70 percent of the personal lines segment and a third of U.S.…
Read MoreScratched EV Battery? Your Insurer May Be Forced to Junk the Whole Car
For many electric vehicles, there is no way to repair or assess even slightly damaged battery packs after accidents, forcing insurance companies to write off cars with few miles – leading to higher premiums and undercutting gains from going electric. And now those battery packs are piling up in scrapyards in some countries, a previously…
Read MoreInsurers View New Car Sales Rise in California as More Evidence for Rate Filings
New figures show car sales in California continue to slowly return to pre-pandemic levels, which the state’s auto insurers believe is another indication the state’s insurance regulator needs to approve more rate filings. The California New Car Dealers Association last month released its 2022 California Auto Outlook report for the fourth quarter, which covers 2022…
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