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ASA Says FTC Proposed Rule on Unfair or Deceptive Fees Could Penalize Collision Repair Facility Operators for Supplements

March 25, 2024 By CollisionWeek Editor

Association suggests revisions to proposed rule that clarify supplements after repairs begin would not be a violation of the rule. The Automotive Service Association (ASA) commented on a Federal Trade Commission proposed rule that seeks to prohibit unfair or deceptive practices relating to fees on goods or services. In its Notice of Proposed Rulemaking (NPRM) […]

Filed Under: News Tagged With: Automotive Service Association, estimating, Federal Trade Commission, Regulations, Supplements

Crash Champions Acquires Collision Repair Center in Idaho

March 25, 2024 By CollisionWeek Editor

Crash Champions announced the acquisition of Addison Collision Repair in Twin Falls, Idaho. The collision repair center is located at 1196 Addison Ave. and will begin operating as Crash Champions effective today. “This is another proud step forward as we expand the Crash Champions brand and vision across the state of Idaho,” said Matt Ebert, […]

Filed Under: News Tagged With: Acquisitions, Crash Champions, Idaho

Underwriting Losses Persist in US Property/Casualty Industry Total $21.2 Billion in 2023

March 25, 2024 By CollisionWeek Editor

The U.S. property/casualty (P/C) industry recorded a $21.2 billion net underwriting loss in 2023, slightly improving upon the $24.9 billion loss recorded in 2022, according to a new AM Best report. These preliminary results are detailed in a new Best’s Special Report, titled, First Look: 2023 US Property/Casualty Financial Results, and the data is derived […]

Filed Under: News Tagged With: Combined Ratio, Earnings, Property Casualty Insurance

Fisker Announces Negotiations with Large Automaker Terminated

March 25, 2024 By CollisionWeek Editor

Electric vehicle manufacturer Fisker Inc. (NYSE: FSR) announced today that negotiations with a large automaker for a possible transaction had been terminated by the vehicle manufacturer. In a filing with the Securities and Exchange Commission (SEC) today, Fisker stated, “After the market closed on March 22, 2024, Fisker Inc. received notice from the large automaker […]

Filed Under: News Tagged With: Agreements Signed, Fisker

FCA Recalls Over 280,00 Vehicles for Side Air Bag Inflatable Curtain Module Defect

March 25, 2024 By CollisionWeek Editor

FCA US LLC announced it is voluntarily recalling an estimated 284,982 U.S.-market vehicles to replace their side air bag inflatable curtain (SABIC) modules. The recall is limited to certain 2018-2021 Dodge Charger and Chrysler 300 sedans. A routine review of customer feedback led to a Company investigation that discovered certain vehicles may have been equipped […]

Filed Under: News Tagged With: Airbag, FCA, Recalls

ProColor Collision Adds First Collision Repair Center to Network in Montana

March 22, 2024 By CollisionWeek Editor

ProColor Collision announced that ProColor Collision Gallatin Valley is the network’s first location in Montana. Located at 70 Rock Road in Belgrade, ProColor Collision Gallatin Valley is operated by Robert Rinta and Simon Gratch. Native to Montana, both served honorably in the Montana National Guard. In December 2022, Rinta opened NOVUS Glass Bozeman, providing mobile […]

Filed Under: News Tagged With: Montana, Network Affiliations, ProColor Collision

GEICO Offering Discount for New Personal Auto Policies

March 22, 2024 By CollisionWeek Editor

S&P Global Market Intelligence reported that GEICO has recently begun submitting personal auto rate filings in several states that offer a “Welcome Factor” discount to new customers. The plan offers a temporary discount that applies to new policyholders and would be phased out in each subsequent renewal period. The discount first appeared in its Virginia […]

Filed Under: News Tagged With: GEICO, Premiums, S&P Global Market Intelligence

New Vehicle Sales Projected to Rise in March Compared to Last Year

March 22, 2024 By CollisionWeek Editor

Total new-vehicle sales for March 2024, including retail and non-retail transactions, are projected to reach 1,525,700 units, a 12.1% increase from March 2023, according to a joint forecast from J.D. Power and GlobalData. March 2024 has 27 selling days, the same as March 2023. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is […]

Filed Under: News Tagged With: GlobalData, J.D. Power, New Vehicle Sales

State Farm’s Jeff Kinsey Elected HLDI Board Chair

March 22, 2024 By CollisionWeek Editor

Jeff Kinsey, assistant vice president and actuary at State Farm Insurance Companies, has been elected chair of the Highway Loss Data Institute (HLDI) Board of Directors. Kinsey takes over from Stefanie Zacchera, vice president of personal lines data and analytics at The Hartford, who remains on the Board. “There is no better time than now […]

Filed Under: News Tagged With: Board of Directors, Highway Loss Data Institute, People, State Farm

EPA Slows EV Transition in Final Emission Rule

March 21, 2024 By CollisionWeek Editor

Following criticism of 2023 proposal, EPA changes emissions requirements to allow manufacturing supply chains to scale while keeping overall emission reduction requirement. Yesterday, the U.S. Environmental Protection Agency (EPA) announced its final national pollution standards for passenger cars, light-duty trucks, and medium-duty vehicles for model years 2027 through 2032 and beyond. The final rule modifies […]

Filed Under: News Tagged With: Electric Vehicles, Emissions, Greenhouse Gas Emissions, Regulations, U.S. EPA

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