Universal Technical Institute (UTI), a division of Universal Technical Institute, Inc. (NYSE:UTI), announced the purchase of the three buildings it fully occupies at its Orlando, Fla. campus, which offers technician training programs in automotive, diesel, motorcycle and marine. In February 2022, UTI completed the consolidation of its UTI-Orlando and MMI-Orlando campuses into the current location, […]
Legislation to Limit Length of Automotive Design Patents Re-Introduced in U.S. House of Representatives
Bill seeks to reduce collision repair costs by limiting the length of time vehicle manufacturer exterior parts would be protected from competition. The Save Money on Auto Repair Transportation (SMART) Act was reintroduced yesterday in the U.S. House of Representatives. The bill proposes to reduce the length of time exterior collision repair parts are protected […]
Coalition of 23 State Attorneys General Urge Kia and Hyundai to Address Vehicle Theft Issues
A nationwide coalition of 23 attorneys general is calling on Kia America (Kia) and Hyundai Motor Company (Hyundai) to take swift and comprehensive action to help remedy the crisis of car thefts that has occurred due to the companies’ failure to equip vehicles with anti-theft immobilizers. Alarmingly high theft rates for Kia and Hyundai models […]
GHSA, Ford Fund Provide Grants to States to Advance Safe, Equitable Mobility for Teens
The Governors Highway Safety Association (GHSA) and Ford Motor Company Fund, the philanthropic arm of the Ford Motor Company, are celebrating a 20-year partnership dedicated to youth traffic safety by awarding grants totaling $94,000 to four states to advance access to safe mobility for teens in underserved and socioeconomically disadvantaged communities. Vehicle crashes are the […]
Consumer Group Concerned California Insurance Commissioner Approved Over $1 Billion in Auto Insurance Rate Hikes
Consumer Watchdog says Insurance Commissioner Lara’s approval last week of a $263.7 million rate hike by California’s largest insurer, State Farm, marks the latest in a flurry of approvals of unjustified 2023 auto insurance rate hikes by the top 6 auto insurers, collectively totaling over $1 billion. These companies insure approximately 48% of the state’s […]
Boyd Group Reports Sales Up Nearly 30% in 2022
Same-store sales up nearly 20%. Demand for collision repair services exceeded capacity. Boyd Group Services Inc. (TSE:BYD) today announced the results for the the fourth quarter and full year ended December 31. For the year, sales increased by 29.9% to $2.4 billion from $1.9 billion in the same period of 2021, including same-store sales increases […]
U.S. Property/Casualty Insurance Industry Projected to Suffer $26.5 Billion Underwriting Loss in 2022
The U.S. property/casualty (P/C) industry recorded a $26.5 billion net underwriting loss in 2022, a slide of $21.5 billion from the prior year’s underwriting loss, according to a new AM Best report. These preliminary results are detailed in a new Best’s Special Report, titled, “First Look: 12-Month 2022 US Property/Casualty Financial Results,” and the data […]
Indiana Farmers Insurance Partners with CCC for AI-Powered Estimating
CCC Intelligent Solutions Inc. (NASDAQ:CCCS) announced today Indiana Farmers Insurance is the latest auto insurer to leverage its industry-first AI-powered CCC Estimate – STP solution. Estimate-STP uses advanced AI and insurer-driven rules to automatically initiate and populate detailed and actionable estimates in seconds. In market with 15 insurers, including 7 of the top 10 carriers […]
NICB President and San Diego DA Discuss Crime Trends and Efforts to Fight Insurance Fraud
The National Insurance Crime Bureau (NICB), the insurance industry’s association dedicated to predicting, preventing, and prosecuting insurance crime, continues to focus on strengthening its longstanding relationship with the San Diego County District Attorney’s Office to enhance investigative efforts in the county. NICB President and CEO David J. Glawe and San Diego County District Attorney Summer […]
Crash Champions Opens New Collision Repair Center in Ohio
New facility is the multiple collision repair shop operator’s 25th location in the state. Crash Champions today announced the opening of its 25th Ohio collision repair center, located at 38401 Chester Road in Avon, Ohio. The facility officially opened on March 20th. “We’re thrilled to continue expanding the Crash Champions team across Ohio,” said Matt […]
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