La Nina and warmer-than-average ocean temperatures are major drivers of tropical activity. NOAA National Weather Service forecasters at the Climate Prediction Center predict above-normal hurricane activity in the Atlantic basin this year. NOAA’s outlook for the 2024 Atlantic hurricane season, which spans from June 1 to November 30, predicts an 85% chance of an above-normal […]
U.S. Property and Casualty Insurers Projected to Have $21.1 Billion in Underwriting Losses Last Year
Verisk & APCIA estimate shows the industry facing continued challenges from natural catastrophe events, inflation. Verisk (NASDAQ: VRSK), the global data analytics and technology provider, and The American Property Casualty Insurance Association (APCIA), a national trade association for home, auto, and business insurers, today remarked on full-year 2023 losses for the insurance industry, which they […]
Consumer Sentiment Falls on Concerns Labor Markets May Weaken
Sentiment fell back about 10% in May, a departure from three consecutive months of very little change in consumer views, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index fell to 69.1 in the May 2024 survey, down 10.5% from 77.2 in April but 17.1% above last May’s 59.0. Although consumers’ […]
NAMIC Voices Concern Over Data Privacy Draft Legislation
The National Association of Mutual Insurance Companies (NAMIC) is urging lawmakers to address what it believes are significant flaws in privacy legislation approved by a U.S. House subcommittee. The American Privacy Rights Act, approved by the House Energy and Commerce Subcommittee on Innovation, Data, and Commerce, seeks to establish a national privacy standard. However, Jimi […]
CAWA to Hold Summer Leadership & Educational Forum June 19-21 in Newport Beach
CAWA, the non-profit trade association representing automotive parts manufacturers, jobbers, warehouse distributors, retailers and program groups, announced that the CAWA Leadership & Educational Forum will be held June 19-21 in Newport Beach, Calif. The two-day business meeting focuses on key sessions and presentations from industry experts who will share insight and critical thinking on contemporary […]
Justice Department and Federal Trade Commission Seeking Information on Competition Impact of Serial Acquisitions and Roll-Up Strategies
Agencies request information on how acquisition strategies impact competition across the economy including aftermarket/repair services. The Justice Department and Federal Trade Commission (FTC) jointly launched a public inquiry May 23 to identify serial acquisitions and roll-up strategies throughout the U.S. economy that the agencies say have led to consolidation and harmed competition. In a joint […]
May U.S. Auto Sales Projected Up 3% Over Last year
S&P Global Mobility projects new U.S. light vehicle sales volume in May 2024 to reach 1.4 million units. This unadjusted volume total would be up approximately 3% from the year-ago total, and up 7% from the April 2024 result. The estimated May sales total would translate to a sales pace of 15.6 million units seasonally […]
I-CAR Helps High School Students Navigate an Uncertain Future with Collision Careers Website
Amid financial aid delays and concerns about the future, many students have skipped the pressures of May’s Decision Day and are considering an alternative path to a traditional four-year degree by choosing a skilled trade that offers long-term success and financial stability, like automotive collision repair. CollisionCareers.com provides essential information and resources to students, parents, […]
CARFAX Reports 6.4 Million Vehicles Need Takata Airbags Replaced Ten Year After Start of Recalls
Ten years after the National Highway Traffic Safety Administration (NHTSA) mandated the recall of Takata airbags nationwide because of the risk they pose for bodily harm – or even death – to occupants, more than 6.4 million vehicles in the U.S. still have those airbags, according to CARFAX data. More than 2.5 million – roughly […]
WIN Announces Record 30 Students Receive Scholarship Program Awards
Organization partners with Collision Repair Education Foundation to support women pursuing careers in the industry. The Women’s Industry Network (WIN) has announced a record 30 new recipients of its 2024 WIN College Student Tuition and Conference Scholarship Awards. 2024 also saw a record number of student applications, as WIN partnered with the Collision Repair Education […]
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