Chubb Limited (NYSE: CB) today issued a statement in response to the recent statement from the board of Hartford Financial Services Group Inc. (NYSE:HIG) rejecting Chubb’s acquisition offer for the insurer. According to Chubb, “As demonstrated by our industry-leading returns and underwriting performance, we have created an unsurpassed franchise in the insurance industry and its […]
Allstate Completes Exit of Life and Annuity Businesses
The Allstate Corporation (NYSE: ALL) has agreed to a transaction in which Wilton Re will pay $220 million to acquire Allstate Life Insurance Company of New York (ALNY). The transaction is expected to close in the second half of 2021, subject to regulatory approval and other closing conditions. This transaction, along with the agreement announced […]
NASTF to Launch Assisted Immobilizer Reprogramming Service
During the week of April 5, the National Automotive Service Task Force (NASTF) will be launching the new Assisted Immobilizer Reprogramming (AIR) service. Every so often, a repair facility may need to replace or reprogram a module that involves the vehicle’s security systems. Until now the only way to do that was with a NASTF […]
Auto Industry Sales Projected to Break Records in First Quarter Due to Strong Retail Demand
First quarter spending on new vehicles at record levels. New-vehicle retail sales for the month of March are expected to show growth over March 2020 and March 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales for new vehicles are projected to reach 1,288,100 units, a 70.7% increase compared with […]
Business Groups Applaud Senate Passage of the PPP Extension
Business groups are applauding the U.S. Senate’s passage yesterday of H.R. 1799, the PPP Extension Act of 2021 that extends the deadline to apply for a Paycheck Protection Program (PPP) loan beyond its March 31 deadline. Kevin Kuhlman, Vice President of Federal Government Relations for the National Federation of Independent Business (NFIB) said, “Small business […]
IIHS Announces 2021 Board
The Insurance Institute for Highway Safety (IIHS) announced that Dan Clapp, executive vice president of Shelter Insurance, will remain at the helm its Board of Directors for 2021 as planned. Clapp, executive vice president at Shelter, took over as chair in July, following six months as chair-elect. “Even as the world’s focus shifted to a […]
CalPro ADAS Solutions Launches ADAS IdentiScan
CalPro ADAS Solutions announced the launch of its new ADAS IdentiScan product. The solution delivers detailed information and guidance to collision repair facilities so they can manage the estimation and repair process by identifying the advanced driver assistance systems (ADAS) and required calibrations. “ADAS IdentiScan simply provides the right information, to the right person at […]
Right to Repair Legislation Introduced in Australia
Bill follows years long effort to establish framework to assure access for independent auto repair facilities and training organizations. Legislation was introduced March 24 in the Australian Parliament to require vehicle manufacturer and other affiliated data providers to make repair information supplied to dealer repair facilities available to independent repairers and training groups. The proposed […]
Snapsheet Secures $30 Million in Series E2 Financing
Snapsheet announced it has raised $30 million in Series E2 financing. Ping An Global Voyager Fund and Pivot Investment Partners led the round. Existing investors include Nationwide, Liberty Mutual, Intact Ventures, Tola Capital, Commerce Ventures, among others. The new funds will be used to accelerate growth and add new functionality to Snapsheet’s cloud native end-to-end […]
AutoClaims Direct Join Guidewire PartnerConnect Program
AutoClaims Direct, Inc. (ACD), the auto claims technology and services company to the property and casualty industry, and Guidewire Software, Inc., announced that ACD has joined Guidewire PartnerConnect as a Solution partner. Since 2003, ACD has been committed to ending the fragmented auto claims process by delivering a unified, end-to-end solution for insurers to manage […]
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