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You are here: Home / Archives for Claim Frequency

GEICO Reports $11.5 Billion Premiums Written in First Quarter

May 6, 2025 By CollisionWeek Editor

Written premiums up over 6%. Collision claims frequency down 6-9 percent in quarter compared to 2024. Berkshire Hathaway reported its 2024 earnings on May 3, providing details on its GEICO subsidiary—the third-largest private passenger auto insurer in the U.S. GEICO’s pre-tax underwriting earnings climbed to $2.173 billion in the first quarter of 2025, up $245 […]

Filed Under: News Tagged With: Claim Frequency, Claim Severity, Earnings, GEICO, Net Written Premiums

GEICO Reports 7.7% Rise in Premiums Written for 2024

February 24, 2025 By CollisionWeek Editor

Collision claims frequency down 8-9 percent compared to 2023. Berkshire Hathaway reported its 2024 earnings on Feb. 22, providing details on its GEICO subsidiary—the third-largest private passenger auto insurer in the U.S. GEICO’s pre-tax underwriting earnings climbed to $7.813 billion in 2024, up $4.178 billion, or 114.9 percent, from $3.635 billion in 2023. The improvement […]

Filed Under: News Tagged With: Berkshire Hathaway, Claim Frequency, Claim Severity, Earnings, GEICO

Mitchell Reports Collision Claims Increased by More Than 30% for BEVs Last Year

February 21, 2025 By CollisionWeek Editor

Average severity plateaued and total losses increased. Mitchell, an Enlyte company, announced the latest release of its Plugged-In: EV Collision Insights report. This edition features an overview of the most notable annual trends in battery electric vehicle (BEV), mild hybrid electric vehicle (MHEV) and plug-in hybrid electric vehicle (PHEV) collision claims. Following a second year […]

Filed Under: News Tagged With: Claim Frequency, Claim Severity, Electric Vehicles, Mitchell

Enlyte’s Trends Report Examines Year of Generative AI

January 15, 2025 By CollisionWeek Editor

As the use of generative AI continues to expand, 2025 is poised to be the year this technology significantly starts to change how Americans live and work. This is especially true in the P&C industry, as companies strive to balance efficiency and costs with investments in systems, training and change management. To help position insurance […]

Filed Under: News Tagged With: Claim Frequency, Electric Vehicles, Enlyte, Industry Trends Report, Total Loss

Hurricane Helene and Milton Damages Will Significantly Impact Profitability of U.S. Insurers

October 23, 2024 By CollisionWeek Editor

Auto insurance premiums likely to increase in affected markets. According to GlobalData, the data and analytics company, recent hurricanes Helene and Milton that have struck the U.S. resulted in widespread devastation, claiming hundreds of lives and causing huge property damages that will impact profitability at property casualty insurers. Hurricane Helene, which struck Florida’s Big Bend […]

Filed Under: News Tagged With: Auto Insurance, Claim Frequency, Disaster Relief, Global Data

State Farm Data Shows Odds of Hitting an Animal Down Slightly Compared to Last Year

September 25, 2024 By CollisionWeek Editor

Deer remain the #1 animal involved in a collision with nearly 1.3 million claims. Pennsylvania had the most animal claims. Data released from State Farm pegs the odds of U.S. drivers hitting an animal at 1 in 128 this year, down slightly from 1 in 127 last year. As the largest private passenger auto insurer […]

Filed Under: News Tagged With: Animal Collisions, Claim Frequency, State Farm

State Farm Reports 74% Drop in Catalytic Converter Thefts

September 11, 2024 By CollisionWeek Editor

State Farm auto claims data shows a 74% drop in catalytic converter theft claims for the first half of 2024 compared to the same period in 2023. This is good news in a story that first gained traction when State Farm claims data indicated a significant increase in catalytic converter thefts over the last several […]

Filed Under: News Tagged With: Catalytic Converter Theft, Claim Frequency, State Farm

Mitchell Reports Battery Electric Vehicle Collision Claims Continue to Rise Despite Sales Slowdown

August 15, 2024 By CollisionWeek Editor

Claims frequency for repairable battery electric vehicles has jumped 45% in the U.S. and 39% in Canada year-over-year while increasing more gradually for hybrids. Mitchell, an Enlyte company today published its Q2 2024 Plugged-In: EV Collision Insights report. This edition features the latest U.S. and Canadian claims data on battery electric vehicles (BEVs), mild hybrid […]

Filed Under: News Tagged With: Canada, Claim Frequency, Claim Severity, Electric Vehicles, Mitchell International

GEICO Reports Premiums Written Up 10.7% in Second Quarter

August 6, 2024 By CollisionWeek Editor

Collision claim frequency was down in range of 6-7% in the quarter, but severity was up. Berkshire Hathaway reported its earnings for the second quarter of 2024 on August 3, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. GEICO’s pre-tax underwriting earnings in the first six months […]

Filed Under: News Tagged With: Berkshire Hathaway, Claim Frequency, Claim Severity, Earnings, GEICO, Net Written Premiums

LexisNexis Report Highlights Generational Risks in Drivers and Vehicles that Contribute to Higher Claim Frequencies

June 21, 2024 By CollisionWeek Editor

LexisNexis Risk Solutions released its 2024 U.S Auto Insurance Trends Report, which aggregates annual market data about consumer driving patterns, auto insurance shopping trends, claim frequency and severity, and consumer responses to rate increases to help insurance carriers better understand the evolving trends impacting the U.S. auto insurance industry. Key takeaways Risky driving behavior rises […]

Filed Under: News Tagged With: Claim Frequency, Claim Severity, LexisNexis Risk Solutions, Total Loss

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