NAIC reports auto insurance premiums earned up over 3% in 2021. Total direct premiums earned on private passenger auto insurance were $257.7 billion in the U.S. in 2021, up over $7 billion, or 3.1% from $250 billion in 2020 according to final data released March 28 by the National Association of Insurance Commissioners (NAIC). The […]
U.S. Gasoline Demand Declining in March
After rebounding in February, historically high gasoline prices appear to be reducing gasoline demand and traffic volume. Gasoline demand has been declining throughout March in the wake of historic gasoline prices. The four-week moving average in March has declined compared to 2019 levels for each of the first three weeks during the month after rebounding […]
INRIX Reports U.S. Travel Declines Slightly as Gas Prices Increase
Midwest and Southern region trips declined while Western and Northeast increased last week. According to INRIX, while gasoline prices have increased dramatically over the past month, the price increases have had a negligible effect on driving, as employees return to offices and COVID-19 restrictions eased across the country. “Despite the increase in trip demand over […]
Collision Repair Industry Production Exceeded Pre-Pandemic Levels in January
Production and total employment forecast at record high level in January. Hours worked down slightly from December, but up from January 2020 and 2021. An analysis of the latest data released from the U.S. Department of Labor Bureau of Labor Statistics (BLS) covering the preliminary January employment, hours worked and wages indicated growth on a […]
U.S. Gasoline Demand Rebounds in February
While the surge in COVID-19 cases impacted demand in January, February gasoline consumption closed in on 2019 levels despite higher fuel prices. Gasoline demand rebounded sharply in February following four weeks of declines throughout January. The four-week moving average of gasoline consumption had been above 2019 levels for four of five weeks reported in December, […]
U.S. Traffic Volume Above 2019 Levels in December
Full year traffic volume bounced back from pandemic low last year to within 1% of 2019. December traffic was up 11.2% compared to December 2020. The December result marks the 10th straight month that traffic volume was up versus 2020. Travel volume in December increased on a year-over-year basis and the versus 2019 levels. Travel […]
Collision Repair Industry Production Exceeded Pre-Pandemic Levels in December
Production employment increased to level last seen in February 2020 prior to pandemic. Hours worked above 2019 average. Number of women employees sets new record. An analysis of the latest data released from the U.S. Department of Labor Bureau of Labor Statistics (BLS) covering the preliminary December employment, hours worked and wages indicated growth on […]
Collision Claims Up Nearly 21% in Third Quarter Compared to Pandemic Impacted Quarter in 2020
Third quarter claims remain over 4% below 2019 level. Losses up over 25% compared to 2019. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that claims and losses in the third quarter continued to rebound from the impact of the coronavirus on summer travel in 2020. Collision […]
Most Profitable States for Auto Insurers in 2020
While the pandemic caused an upheaval in the auto physical damage insurance market and carriers rebated premiums, many states were more profitable for insurers during 2020 than before the pandemic. The latest data from the National Association of Insurance Commissioners (NAIC) illustrates how the first year impacted by the COVID-19 pandemic increased profits for private […]
Collision Claims Up Over 46% in Second Quarter Compared to Pandemic Impacted Quarter Last Year
Second quarter last year had been down nearly 36%. Quarter remains below 2019 level. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that claims and losses in the second quarter continued to rebound from the historic impact from the coronavirus lockdowns last year. Collision coverage claims for […]
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