Refinish sales flat compared to strong quarter in the previous year. PPG (NYSE:PPG) reported net sales of $4.311 billion for the for the first quarter 2024, down 2% from $4.380 billion in the first quarter last year. Net income was $400 million, up 52% from 264 million in the first quarter last year. According to […]
Pennsylvania Attorney General Charges Tow Truck Operator with Theft and Insurance Fraud
Owner of towing business alleged to have inflated costs, charging 27 vehicle owners nearly $300,000 for short-trip tows. Attorney General Michelle Henry, along with the Allegheny County Police Department, announced charges against the owner of a Pittsburgh-based towing company for inflating tow costs by charging “accident services” fees and other deceptive practices. Vincent G. Fannick, […]
U.S. House Financial Services Committee Advances Bill to Limit Federal Insurance Office Ability to Subpeona Insurers Directly
On April 17, the U.S. House Financial Services Committee, led by Chairman Patrick McHenry (NC-10), reported 13 pieces of legislation out of Committee to the full House for consideration. Included among the measures is a slate of Congressional Review Act (CRA) resolutions to nullify what it says are a series of regulatory oversteps on the […]
Wholesale Used-Vehicle Prices Decreased in First Half of April
Prices down over 13% from April 2023. Wholesale used-vehicle prices on a mix-, mileage-, and seasonally adjusted basis decreased by 1.9% from March during the first 15 days of April. The mid-month Manheim Used Vehicle Value Index dropped to 199.2, which was 13.7% lower than the full month of April 2023. The seasonal adjustment amplified […]
ARA and URG Partner on Gold Seal Quality Assurance Certification Program
The United Recyclers Group (URG) and Automotive Recyclers Association (ARA) announced the launch of the Gold Seal Quality Assurance Certification for professional automotive recyclers. This initiative, unveiled at the recent United Recyclers Group Annual Conference hosted with Team PRP, merges URG’s 9000 certification and the Gold Seal certification established by ARA. The Gold Seal Quality […]
I-CAR Names Chairman’s Awards Recipients
The Inter-Industry Conference on Auto Collision Repair (I-CAR), honored four industry leaders for their remarkable achievements and contributions to I-CAR’s vision during the organization’s 45th-anniversary celebration at the I-CAR National Meeting. The event served to recognize and bring together I-CAR volunteers, instructors, and assessors, additionally 20 of our 57 Sustaining Partners participated in the weekend’s […]
Toyota Research Institute Announces Multimillion-Dollar Challenge to Accelerate Advanced Materials Research
The Toyota Research Institute (TRI) announced a multiyear, multimillion-dollar challenge aimed at closing the gap between recent advances in artificial intelligence (AI) prediction of new materials and finding the actual “recipe” needed to make these hypothetical materials in the real world. Researchers can presently use AI and simulation to find millions of novel materials at […]
Maryland Insurance Commissioner Kathleen Birrane to Step Down June 30
Maryland Insurance Commissioner Kathleen A. Birrane has announced her intent to resign effective June 30 and to return to private practice at DLA Piper, where she was a partner until being appointed Commissioner in May 2020. “My decision to return to private practice is bittersweet. Serving the residents of this State as the Insurance Commissioner […]
Insurance Economic Drivers Outperforming Overall US GDP
Insurance Information Institute says property/casualty insurance performance likely to gain momentum on Federal Reserve interest rate cuts. The economic drivers of the U.S. property/casualty (P/C) insurance industry are now growing faster than the nation’s Gross Domestic Product (GDP) and are expected to gain further momentum in the event of Federal Reserve monetary rate cuts, according […]
Joe Hudson’s Collision Center Acquires Six Repair Centers in Texas and Georgia
Joe Hudson’s Collision Center announced acquisition of six new locations, including Patton Brothers Body and Frame in Athens, Ga. and five Precision Hail and Collision locations across Texas. Brant Wilson, CEO of Joe Hudson’s, expresses his excitement about expanding JHCC’s footprint in Georgia, stating, “The acquisition of Patton Brothers Body and Frame marks our entry […]
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