U.S. industry notches strong first quarter, but catastrophes hamper underwriting performance, according to Verisk and APCIA Private property/casualty insurers in the United States saw their net income after taxes increase in the first quarter of 2021 from a year earlier, while their combined ratio – a key measure of underwriting profitability – worsened, according to […]
GM Issues New Recall and Safety Instructions for 2017-19 Chevrolet Bolt
Owners urged to limit charging capacity, park away from structures, charge after every use. GM has issued a new recall affecting the 50,932 Model Year 2017-2019 Chevrolet Bolt vehicles, , even if the owner has had the previous recall repairs completed covered under the original recall announced in November 2020 and revised in May 2021. […]
Senator Proposes Changes to Small Business Pass-Through Tax Deduction
Senate Finance Committee Chairman Ron Wyden (D-Ore.) released a bill, the Small Business Tax Fairness Act, that would make changes to the 20 percent deduction that is available under Section 199A for partnerships, LLCs, and other entities taxed only at the individual owner level that was created by the 2017 Tax Cuts and Jobs Act […]
OCTO Telematics and Ford Team Up to Provide More Accurate Auto Insurance Risk Scores
OCTO Telematics announced a new agreement with Ford Motor Company to leverage Ford’s connected vehicle data to extend its predictive insurance risk score, OCTO DriveAbility Score. The integration provides a seamless experience for auto insurers and their policyholders with highly accurate pricing based upon driving data sourced directly from Ford vehicles fitted with embedded connectivity. […]
Collision Repair Industry Production in April Up Over 20% Compared to Last Year
Production employment increased for the month, but hours worked declined compared to March. An analysis of the latest data released from the U.S. Department of Labor Bureau of Labor Statistics (BLS) covering the final April employment, hours worked and wages indicated growth on a year-over-year basis but a slight decline versus the previous month. Overall, […]
Philadelphia Customs and Border Protection Seizes Nearly $300k in Counterfeit Auto Parts from China
U.S. Customs and Border Protection officers in Philadelphia, Pa. seized a counterfeit Chinese cache of vehicle parts on July 14 that were destined to an address in Feasterville-Trevose, Pa. The shipment arrived on June 4 and consisted of 5,657 pieces that included vehicle door locks, hinges, powered mirrors, steering wheel switches, headlights and taillights, grills, […]
Four New Jersey Veterans Receive Recycled Rides at NABC Golf Fundraiser
On Wednesday, four New Jersey veterans received refurbished vehicles to provide them independence and the ability to work and take care of their families thanks to the National Auto Body Council Recycled Rides program along with car donor GEICO and collision repair partners Caliber Collision Centers, Ray Mees Auto Coach and Cherry Hill Collision Center. […]
Repairify Receives Patent for System to Select Correct OEM and Aftermarket Diagnostic Tools Using VIN
Repairify, Inc., the parent of asTech, announced the United States Patent and Trademark Office (USPTO) has awarded Repairify patent serial no. 16/202,642 for remote automotive diagnostics. The patent recognizes aspects of Repairify’s technology, including systems and methods that allow technicians to use a mobile device to read a vehicle’s identification number (VIN), transmit the VIN […]
Tractable Launches AI Subrogation Solution for Auto Insurers
Tractable announced the launch of AI Subro, a new solution that will help US auto insurers resolve subrogation tasks with artificial intelligence (AI). AI Subro digitizes and accelerates many of the tasks involved in subrogation – the process by which insurers legally pursue third parties that have caused losses to the insured. At present, subrogation […]
FTC to Ramp Up Law Enforcement Against Illegal Manufacturer Repair Restrictions
Commission unanimously adopts policy statement aimed at restoring Right to Repair for small businesses, workers, consumers, and government entities. The Federal Trade Commission yesterday unanimously voted to ramp up law enforcement against repair restrictions that prevent small businesses, workers, consumers, and even government entities from fixing their own products. The policy statement adopted today is […]