While claims in the second quarter were down versus last year, losses were up.
The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that the post-pandemic rebound in claims stalled in the second quarter of 2023, but losses continued to grow to record levels.
Collision coverage claims for the second quarter of 2023 were down 2.0% compared to the second quarter of 2022 that had been up 8.1% over the pandemic impacted second quarter of 2021. Collision coverage claims in the second quarter of 2020 had been down 26.8% from 2019 as lockdowns
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