Quarterly claims were down for the second quarter in a row.
The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that the post-pandemic rebound in claims is over as claims on a quarterly basis were down for two consecutive quarters compared to the previous year. Losses were also down on a quarterly basis compared to last year.
Collision coverage claims for the third quarter of 2023 were down 3.0% compared to the third quarter of 2022. This marks a further erosion in claims from the 2.0% decline in the second quarter of 2023