Legislation would require appraisers and insurers to disclose that consumers are not required to submit photos to obtain an appraisal. Bill also requires insurers to secure a signed aftermarket crash part disclosure. Legislation pre-filed in Louisiana seeks to prohibit appraisers from preparing repair estimates using photographs or telephone calls and require a personal inspection. House […]
MEMA Policy Breakfast to Address Auto Parts Tariff Threats on April 9
The Motor & Equipment Manufacturers Association (MEMA) will hold a policy panel discussion titled Tariffs on Autos and Auto Parts: Auto Parts Are Not a Threat to National Security on April 9, at the National Press Club in Washington, D.C. Now that the Department of Commerce has completed a Section 232 national security investigation of […]
Enterprise Rent-A-Car UK to Buy Commercial Vehicle Rental Company SHB Hire
Enterprise Rent-A-Car UK announced that it has signed an agreement to acquire Romsey-based SHB Hire, an award-winning family-owned vehicle hire and management business. The acquisition will provide Enterprise with the opportunity to create one of the largest commercial vehicle rental companies in the country. With more than 100,000 vehicles, Enterprise is already the UK’s largest […]
Study Shows Insurers Adopting Predictive Analytics and AI to Combat Insurance Fraud
Traditional anti-fraud technology tools are giving way to advanced analytics as insurance fraud rises, insurers say in a study of insurtech trends. The biennial study was conducted by the Coalition Against Insurance Fraud, assisted by the analytics firm SAS across 84 insurer participants. Fraud has risen over the last three years, about two-thirds of insurers […]
Marc Gabbard Receives AASP/NJ James Moy Memorial Award
The Alliance of Automotive Service Providers of New Jersey (AASP/NJ) presented the Third Annual James Moy Memorial Award to Marc Gabbard, owner of a Yakima, Wash. collision repair shop and the creator of the Collision Repair Technicians United Facebook group, during a special ceremony on the first night of the NORTHEAST 2019 Automotive Services Show. […]
Consumer Sentiment Rebounded in March
The University of Michigan survey does not indicate emerging recession, but points toward slightly lower new vehicle sales. Consumer confidence rebounded in March to 98.4 from last month’s 93.8, slightly above the average of 97.2 recorded in the past 26 months. The March gain was 4.9 percent compared to February, but remains 3 percent below […]
Fix Auto UK Acquires Collision Repair Center in Daventry
Fix Auto UK announced that it has acquired its first wholly owned independent collision repair center with the purchase of Daventry Panel Craft Ltd, a 10,000 sq. ft. facility that will become Fix Auto Daventry. The decision follows Fix Auto UK’s announcement last summer that revealed it had taken a majority share in existing franchisee […]
AM Best Report Personal Auto Insurers Combined Ratio Improves
Severity continues to increase, but frequency growth has leveled. The U.S. private passenger auto segment has experienced a turnaround after weakened performance in 2015-2016, as rate actions and underwriting initiatives resulted in a 3.8-point year-over-year improvement in the sector’s combined ratio in 2017, as well as a 4.7-point loss ratio reduction through third-quarter 2018, according […]
Copart Expands its Chicago South Location
Copart, Inc. (NASDAQ:CPRT) announced it added 44 acres to its Chicago South facility located at 89 E. Sauk Trail, in Chicago Heights, Ill. With this expansion, the facility is now 80-acres allowing Copart to accommodate the growth it is experiencing in this market. “This expansion is a great win for our business and helps grow […]
CARS Cooperative Partners with asTech
The CARS Cooperative announced it has partnered with Repairify, Inc., the makers of the asTech diagnostic device, offering vehicle diagnostic and calibration services to its more than 700 locations in the United States. Through this preferred partnership, CARS Cooperative members will be able to offer customers and insurance partners’ vehicle electronics diagnostic and calibration services […]
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