Realized capital gains drive net income growth. Auto insurance earned premiums up $1 billion in 2015 versus 2014. Auto underwriting loss widens. The State Farm property-casualty (P-C) companies reported total revenue, which includes premium revenue, earned investment income, and realized capital gains (losses), was $75.7 billion for 2015 compared with $71.2 billion for 2014. State […]
Macaluso Named Interim President of CARSTAR North America Following Young Resignation
Michael Macaluso, president of CARSTAR Canada, has been named interim president of both CARSTAR’s U.S. and Canadian collision repair operations following the resignation last week of Dan Young, president of CARSTAR’s U.S. organization. Macaluso has served in a variety of capacities at CARSTAR Canada since 2008. According to the company, the changes will accelerate the […]
AAA Survey Finds Americans Afraid of Self-Driving Vehicles
Three out of four drivers report being afraid of self-driving cars. Despite fear, AAA survey finds demand for semi-autonomous features in new vehicles. Three out of four U.S. drivers report feeling “afraid” to ride in a self-driving car, according to a new survey from AAA. With today’s heightened focus on autonomous vehicles, this fear poses […]
Insurance Auto Auctions Opens New Location in Kentucky
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE: KAR), held a grand opening February 22 at its newest location, the IAA Louisville North branch in Eminence, Ky. “The IAA Louisville North facility will expand the company’s presence in the area by providing buyers and sellers with greater convenience and access […]
I-CAR Australia Announces Three Board Appointments
Mark Czvitkovits, I-CAR Australia CEO, announced the appointment of three new Board members to fill vacancies and to add further strength and direction to the organization. “Conducted in accordance with the By Laws, the team at I-CAR was excited to receive nominations from 15 quality individuals, representing all the segments that form part of this […]
LKQ to Acquire Pittsburgh Glass Works
LKQ Corporation (NASDQ:LKQ) announced that it has signed an agreement to acquire Pittsburgh Glass Works LLC (PGW) from private equity firm Kohlberg & Company LLC and PPG Industries, Inc. for an enterprise value of $635 million. PGW is a global distributor and manufacturer of automotive glass products. PGW’s business comprises wholesale and retail distribution services, […]
3M and Festool Announce Strategic Collaboration
The 3M Company and TTS Tooltechnic Systems AG & Co. KG, maker of Festool brand products, today announced a strategic collaboration to provide customers in the global automotive collision repair industry a new and comprehensive surface preparation and finishing system. The collaboration brings together 3M’s abrasives, global sales and distribution capabilities with Festool-branded premium power […]
Registration Open for April 7 NABC Regional Golf Fundraiser in Texas
Registration is now open for the National Auto Body Council’s Regional Golf Fundraiser. The event will be held Thursday, April 7, in Dallas, Texas at the Texas Star Golf Course. Participants will join their industry friends and colleagues for some Texas-style golf and fun an meet and network with industry colleagues in the Southwest. Proceeds […]
Liberty Mutual Insurance’s Ivania Konieczka Elected to CAPA’s Board of Directors
The Certified Automotive Parts Association (CAPA) announced the election of Ivania Palacios Konieczka, Vice President of Personal Insurance Claims at Liberty Mutual Insurance. Konieczka joined Liberty Mutual Insurance in 2011 and is currently Vice President of Personal Insurance Claims for the Auto Physical Damage Product and Analytics group. She and her team are responsible for […]
Patents at Center of Audatex Lawsuit Against Mitchell Ruled Invalid
U.S. Patent and Trademark Office Board rules business processes covering total loss valuations that were at the heart of 2012 patent infringement lawsuit are not patentable. In a ruling filed February 19, the U.S. Patent and Trademark Office Patent Trial and Appeal Board (PTAB) issued its Final Written Decision in favor of Mitchell International’s petition […]