Insurance Journal

DECEMBER 5, 2024

Providence Mutual recently notified state regulators that it is exiting the auto insurance business for both commercial and personal lines n the four states where it currently offers the coverages – Connecticut, Maine, New Hampshire and Rhode Island. The company …

Auto Insurance 264

Auto Insurance Commercial Insurance Insurer 264

Insurance Journal

SEPTEMBER 27, 2024

Self-driving cars could make personal auto insurance largely obsolete within 20 years, according to a worst-case scenario modeled by Morningstar. A more likely, moderate scenario forecasts the line could remain necessary for a few more decades, until 2060. The firm’s …

Auto Insurance 264

Auto Insurance Insurance Insurer Insured 264

Insurance Journal

NOVEMBER 25, 2024

Two auto insurers will pay fines totaling $11.3 million for data breaches of online insurance quoting systems that New York officials say compromised personal information of an estimated 120,000 customers in total. New York Attorney General Letitia James and New …

Auto Insurance 264

Auto Insurance Cyber Insurance Quotes Insurance 264

Insurance Journal

SEPTEMBER 12, 2024

Sentry Insurance said it is buying nonstandard auto insurer The General from American Family Insurance for about $1.7 billion to mark the largest acquisition in the company’s 120-year history. Sentry will pay $1.1 billion in cash and assume liabilities and …

Auto Insurance 264

Auto Insurance Liability Insurance Insurer 264

Insurance Journal

AUGUST 1, 2024

A Colorado man who aided a former insurance claims adjuster in an auto insurance claims scheme was sentenced this week. In 2020, Brassfield, 55, of Aurora, reportedly aided former Travelers Insurance employee Colette Palin, 63, of Aurora in committing fraud.

Auto Insurance 263

Auto Insurance Insurance Claim Claim Insurance 263

Insurance Journal

NOVEMBER 13, 2024

commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best reports indicates further deterioration in the first half of 2024. After the U.S. Despite targeted underwriting initiatives, including raising premiums to match the rising …

Auto Insurance 246

Auto Insurance Commercial Underwriter Underwriting 246

Insurance Journal

DECEMBER 19, 2024

A California man was sentenced to 16 years in prison for filing false claims on dozens of auto collisions. Jacob McNabb, 33, of Bakersfield, was sentenced following a jury’s guilty verdict on four felony counts including insurance fraud after a …

Auto Insurance 264

Auto Insurance Claim Insurance Insurer 264

Insurance Journal

OCTOBER 7, 2024

Amid inflation and labor shortages, the growing impact of electric vehicles (EVs) and rising repair costs, insurers and repairers will have a bumpy road to navigate in the year ahead, according to CCC Intelligent Solutions Inc.’s ’s Crash Course Q3 2024 …

Auto Insurance 297

Auto Insurance Insurance Insurer Insured 297

Insurance Journal

JULY 14, 2024

The commercial auto insurance segment maintained its place as a weaker-performing U.S. property/casualty insurance product line in 2023. Despite successive periods of pricing and underwriting actions, commercial auto has generated a statutory combined ratio above 100 in 12 of the …

Auto Insurance 147

Auto Insurance Commercial Casualty Insurance Underwriter 147

Insurance Journal

JANUARY 8, 2025

Auto Insurance Rates is Being Subsidized by Collector Car Owners According to Classic & Collector Insurer OpenRoad Standard auto insurers continue their efforts to recover from the unprecedented losses they experienced during COVID-19 due to … The Meteoric Rise in U.S.

Auto Insurance 130

Auto Insurance Insurance Insurer Insured 130

Insurance Journal

AUGUST 14, 2024

Bureau of Labor Statistics reported today that the Consumer Price Index (CPI) increased 0.2 percent in July, after declining 0.1 percent in June. Over the last 12 months, the all items index increased 2.9 The core consumer …

Auto Insurance 287

Auto Insurance Insurance Insurer Insured 287

Central Insurance

JULY 2, 2024

Learn how to navigate Arizona auto insurance for your commercial business by understanding essential coverage types and unique state risks. The post Navigating Arizona Auto Insurance for Your Commercial Business appeared first on Central Insurance Blog.

Auto Insurance 130

Auto Insurance Commercial Insurance Insurer 130

Central Insurance

JULY 22, 2024

Learn about essential Nevada auto insurance coverages to protect yourself on the road. The post Nevada Auto Insurance: What to Consider When Covering Your Vehicles appeared first on Central Insurance Blog. Nevada drivers face unique risks, from extreme weather to diverse driving conditions.

Auto Insurance 130

Auto Insurance Insurance Insurer Insured 130

Rough Notes

DECEMBER 2, 2024

Harrington, CPCU If insurance underwriting were a reality television show, commercial auto underwriting would be cast as the ultimate challenge of endurance for the participants. Like haggard, sweat-soaked individuals scrambling to reach the finish line, commercial auto insurance providers, producers, and buyers […]

Auto Insurance 105

Auto Insurance Commercial Underwriter Underwriting 105

Insurance Journal

JULY 23, 2024

P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time since 2021. According to the analysis, private passenger auto insurance … S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S.

Underwriter 290

Underwriter Underwriting Auto Insurance Insurance Industry 290

Insurance Journal

OCTOBER 18, 2024

Four men have been charged with defrauding New York auto insurers by allegedly submitting more than $10 million in fraudulent claims for psychological services —and then laundering the proceeds of that fraud through a network of illicit check cashers. Damian …

Auto Insurance 278

Auto Insurance Insurance Insurer Insured 278

Insurance Journal

DECEMBER 27, 2024

Root has announced the availability of Root Insurance in Minnesota. The insurer now serves drivers in 35 states, extending its auto insurance offering to over 4 million registered drivers in Minnesota and covering more than three-quarters of the U.S. population.

Auto Insurance 246

Auto Insurance Insurance Insurer Insured 246

Insurance Journal

JANUARY 14, 2025

Property and auto insurers in South Carolina can keep non-resident adjusters on the job for at least another 90 days, until April 25, due to the continued need after Hurricane Helene, the state insurance commissioner said in a bulletin posted …

Auto Insurance 263

Auto Insurance Insurance Insurer Insured 263

Insurance Journal

DECEMBER 29, 2024

The three largest insurers brokers each announced or closed multi-billion-dollar acquisitions in 2024. The topic was one of many in which readers of Insurance Journal kept a close eye. Difficulties in the personal auto insurance line of business gave way …

Auto Insurance 264

Auto Insurance Insurance Broker Broker Insurance 264

Insurance Journal

DECEMBER 2, 2024

personal lines insurance segment for 2025, citing improved rate and pricing conditions, particularly in the auto insurance space, along with solid levels of risk-adjusted capitalization among carriers. AM Best has revised its outlook to stable from negative for the U.S.

Auto Insurance 299

Auto Insurance Insurance Insurer Insured 299

Insurance Journal

SEPTEMBER 1, 2024

Auto insurance shopping volume set a new record for the second consecutive quarter of 2024. consumers shopping for auto insurance was up 7%, compared to Q2 2023, according to TransUnion’s latest quarterly Insurance Personal Lines Trends … The number of U.S.

Auto Insurance 246

Auto Insurance Insurance Insurer Insured 246

Insurance Journal

DECEMBER 13, 2024

While publicity about personal auto insurer initiatives has focused chiefly on requested rate increases, there’s more to the picture regarding auto insurers’ efforts to improve underwriting results after two calendar years of record underwriting losses. Improving the overall quality of …

Auto Insurance 246

Auto Insurance Underwriter Underwriting Insurance 246

Insurance Journal

DECEMBER 25, 2024

The auto insurance industry has weathered its share of storms in recent years. Despite fewer claims in early 2024, carriers still face headwinds when it comes to vehicle complexity and its effect on severity and cycle time. Following are the …

Claim 255

Claim Auto Insurance Insurance Industry Insurance 255

Insurance Journal

JANUARY 8, 2025

Digital car insurer Clearcover announced the launch of Clearcover General Agency to serve the non-standard auto insurance market in Texas. Policies will be underwritten by Old American County Mutual Fire Insurance Company, bringing Clearcover’s digital-first insurance solutions to more drivers.

Auto Insurance 245

Auto Insurance Insurance Companies Policy Insurance 245

Insurance Journal

JULY 25, 2024

Allstate’s National General auto insurance brand has been sued by the U.S. Department of Justice over allegation that National General and subsidiaries “engaged in a scheme to defraud customers” by putting its insurance product onto vehicles financed by Wells Fargo.

Auto Insurance 247

Auto Insurance Insurance Insurer Insured 247

Insurance Journal

OCTOBER 27, 2024

Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net written premiums (NWP), according to the Insurance Information Institute (Triple-I), an …

Commercial 278

Commercial Auto Insurance Underwriter Underwriting 278

Insurance Journal

NOVEMBER 7, 2024

A 44-year-old South Carolina man was sentenced to 18 months in prison after he pleaded guilty to an auto insurance fraud scheme that targeted elderly drivers in parking lots. In 2020 through 2022, Cornelius Jones, 44, of Lake City, would …

Auto Insurance 246

Auto Insurance Insurance Insurer Insured 246

Insurance Journal

DECEMBER 11, 2024

is asking New York City’s taxi regulator to reconsider proposed changes to commercial auto insurance requirements, saying they may unintentionally leave thousands of drivers in one of the company’s largest markets unable to insure their vehicles. Uber Technologies Inc. Uber …

Auto Insurance 246

Auto Insurance Commercial Insurance Insurer 246

Insurance Journal

SEPTEMBER 26, 2024

In the long war between auto insurers and windshield repair shops, the Florida Supreme Court this week sided with glass companies, leaving GEICO with little choice but to ask lawmakers to change the law if it feels repair prices have …

Auto Insurance 264

Auto Insurance Insurance Insurer Insured 264

Insurance Journal

NOVEMBER 25, 2024

Insurance rating agency AM Best today said it has shifted its outlook of the U.S. personal auto insurance segment to stable from negative thanks to improving loss ratios of the top 20 carriers this year. Underwriting results have improved significantly, …

Auto Insurance 246

Auto Insurance Underwriter Underwriting Insurance 246

Insurance Journal

NOVEMBER 17, 2024

Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net written premiums (NWP), according to the Insurance Information Institute (Triple-I), an …

Commercial 245

Commercial Auto Insurance Underwriter Underwriting 245

Insurance Journal

DECEMBER 1, 2024

By Andrew Simpson A claim provision requiring insureds to seek underinsured benefits from their auto insurer within three years of an accident is unenforceable in New Hampshire because it restricts the right of insureds to obtain the same benefits they …

Claim 242

Claim Auto Insurance Insurance Insurer 242

Insurance Journal

NOVEMBER 14, 2024

A claim provision requiring insureds to seek underinsured benefits from their auto insurer within three years of an accident is unenforceable in New Hampshire because it restricts the insureds’ right to obtain the same benefits they would have received if …

Claim 242

Claim Auto Insurance Insurance Insurer 242

Insurance Journal

NOVEMBER 17, 2024

Four men have been charged with defrauding New York auto insurers by allegedly submitting more than $10 million in fraudulent claims for psychological services –and then laundering the proceeds of that fraud through a network of illicit check cashers. Damian …

Auto Insurance 222

Auto Insurance Insurance Insurer Insured 222

Insurance Journal

SEPTEMBER 10, 2024

Sigo Seguros, a Texas-based insurtech company that focuses on providing auto insurance services for immigrant and working-class communities, announced it has raised an additional $5.1 million in its pre-Series A funding round. The investment round was co-led by Zeal Capital …

Auto Insurance 162

Auto Insurance Insurance Insurer Insured 162

TGS

JANUARY 6, 2025

TGS Insurance Blog Understanding the New North Carolina Minimum Auto Insurance Requirements Effective January 1, 2025 Starting January 1, 2025, North Carolina will implement new minimum auto insurance requirements, marking a significant update to the state’s financial responsibility laws.

Auto Insurance 52

Auto Insurance Insurance Insurer Insured 52

Top Insurance Blogs

FEBRUARY 20, 2024

If you are a new driver in Texas, you would probably be looking for cheap auto insurance for new drivers in Texas. This article will show you four (4) of the best cheap auto insurance for new drivers in Texas 2024. That should not be difficult.

Auto Insurance 52

Auto Insurance Insurance Insurer Insured 52