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 […]
Lift Auto Group Acquires 5 Collision Repair Centers in Alberta, Canada
Lift Auto Group announced that it has significantly expanded its Alberta, Canada operations with the acquisition of Herbers Autobody comprising of five locations in the Edmonton region and one in Grande Prairie. Herbers serves the Edmonton, Grande Prairie and Leduc regions. “Lift is very excited to include Herbers Autobody in its rapidly expanding portfolio of […]
Eric Chester to Keynote ASE 2023 Instructor Training Conference
Renowned speaker and best-selling author Eric Chester will be the keynote speaker at the 2023 ASE Instructor Training Conference scheduled for July 17-20 in Concord, N.C. The topic of Chester’s speech, entitled Building Rockets That Fly: Ensuring the Success of our Graduates, will focus on helping to make sure graduates of automotive educational programs succeed […]
Justice Department Sues North Carolina-based Towing Company for Violating Rights of Servicemembers
The Justice Department filed a lawsuit in the Eastern District of North Carolina alleging that Billy Joe Goines, the owner and operator of Goines Towing & Recovery (Goines), auctioned off, sold or otherwise disposed of motor vehicles owned by servicemembers using court judgments obtained without filing proper military affidavits, in violation of federal law. The […]
Reuters Reports on Concerns that Scratched EV Batteries Lead to Total Losses
A report by Reuters yesterday raised concerns that even slightly damaged electric vehicle (EV) batteries are causing auto insurers to total loss more vehicles. The article says that since there is no way to assess damage to the batteries or repair them, insurers are forced to write off the vehicles, causing higher insurance premiums and […]
Consumer Sentiment Down in Early March
Preliminary data from University of Michigan survey shows decline across younger and lower income consumers. Consumer sentiment fell for the first time in four months, sitting about 5% below February but remaining 7% above a year ago according to preliminary data from the University of Michigan Survey of Consumers. According to commentary by Surveys of […]
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