Auto insurance premiums earned up over 12% last year. Total direct premiums earned on private passenger auto insurance were $303.5 billion in the U.S. in 2023, up 12.3% from 270.3 billion in 2022 according to data released March 18 by the National Association of Insurance Commissioners (NAIC). In comparison, during 2022, earned premiums were up […]
U.S. Traffic Volume Up in December Compared to 2022
Traffic in 2023 was up each month compared to the previous year. Traffic for year above 2019 pre-pandemic peak. Traffic volume in December increased compared to the previous year, keeping alive a streak of 12 year-over-year (YoY) increases that began in January 2023 after two monthly declines at the end of 2022. Traffic volume was […]
Collision Repair Industry Production Finishes 2023 Up Nearly 6% Compared to Previous Year
Production in December was up month-over-month, but down versus December 2022. An analysis of the latest data released from the U.S. Department of Labor Bureau of Labor Statistics (BLS) covering the preliminary December collision repair employment, hours worked and wages indicated production was up for the full year. The month of December was down on […]
Collision Claims and Losses in Third Quarter Down Compared to 2022
Quarterly claims were down for the second quarter in a row. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that the post-pandemic rebound in claims is over as claims on a quarterly basis were down for two consecutive quarters compared to the previous year. Losses were also […]
U.S. Auto Body Repair Prices Up Over 4% in December Compared to Last Year
Prices were up both year-over-year and on a month-over-month basis. The most recent government figures on inflation through December show the rate of growth of auto body repair prices continues to be above the rate of general inflation for the 30th month in a row. The year-over-year (YoY) increase of over 4% in December was […]
Collision Repair Industry Production Down Slightly in November Compared to Last Year
Year-to-date production up over 7% as production employees and total employment reach new records. An analysis of the latest data released from the U.S. Department of Labor Bureau of Labor Statistics (BLS) covering the preliminary November collision repair employment, hours worked and wages indicated production was down on a year-over-year basis and from the previous […]
U.S. Traffic Volume Up in September Compared to 2022
Traffic up compared to last year both for the month and year-to-date. Traffic volume in September increased compared to the previous year for the ninth month in a row after two monthly declines at the end of 2022. Traffic volume was above last year, and it was also above September 2019 prior to the impact […]
U.S. Auto Body Repair Prices Up Over 3% in October Compared to Last Year
Prices were up year-over-year, but declined on a month-over-month basis. The most recent government figures on inflation through October show the rate of growth of auto body repair prices continues to be above the rate of general inflation for the 28th month in a row, but the year-over-year (YoY) rate of increase continues to decline […]
Collision Repair Industry Production Up Over 3% in September Compared to Last Year
Year-to-date production up over 9%. An analysis of the latest data released from the U.S. Department of Labor Bureau of Labor Statistics (BLS) covering the preliminary September collision repair employment, hours worked and wages indicated production was up on a year-over-year basis but down from the previous month. Overall, total collision repair industry employment in […]
Collision Claims in Second Quarter Down Compared to 2022
While claims in the second quarter were down versus last year, losses were up. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that the post-pandemic rebound in claims stalled in the second quarter of 2023, but losses continued to grow to record levels. Collision coverage claims for […]
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