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You are here: Home / Archives for Claim Frequency

Collision Claims in Fourth Quarter Slightly Down Compared to 2021

May 17, 2023 By CollisionWeek Editor Leave a Comment

Claims in the fourth quarter of 2022 declined less than 1% versus the same quarter in 2021. Losses were up nearly 55% compared to 2019. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that the rebound in claims stalled during the fourth quarter of 2022 compared to […]

Filed Under: Research Tagged With: Claim Frequency, Claim Severity, Claims, Losses

Mitchell Reports US and Canada See First Quarter Increase in Repairable EV Claims Frequency

May 16, 2023 By CollisionWeek Editor Leave a Comment

EVs have higher than average vehicle repair costs and cycle time. Mitchell, an Enlyte company, today reported that electric vehicle (EV) repairable claims frequency increased in Q1 2023 to 1.13% in the US and 2.41% in Canada. The data was featured in the company’s latest Plugged-In: EV Collision Insights publication, which provides up-to-date EV claims […]

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

Berkshire Hathaway Reports GEICO Collision Claims Severity 14-16% Higher in 2022 Compared to Previous Year

March 1, 2023 By CollisionWeek Editor

Collision claim frequency was also up last year as company reports auto insurance underwriting loss. Berkshire Hathaway reported its 2022 earnings, including details about its GEICO subsidiary, the second largest private passenger auto insurer in the U.S. on February 25. The company reported claims frequencies in 2022 were higher for all coverages, including property damage […]

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

Collision Claims Were Up Just Over 1% in Third Quarter Compared to 2021

January 20, 2023 By CollisionWeek Editor

Claims in the third quarter of 2022 remain below pre-pandemic levels. Losses were up 38% 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 of 2022 continued to rebound, but comparisons to pre-pandemic levels declined. Losses, however, […]

Filed Under: Research Tagged With: Claim Frequency, Claim Severity, Claims, Losses

Allstate Projects Auto Insurance Rate Increases Will Raise Written Premiums Nearly 17%

January 19, 2023 By CollisionWeek Editor

Auto claims frequency continues to increase but remains below 2019 levels. The Allstate Corporation (NYSE: ALL) announced preliminary results for the fourth quarter of 2022, with an estimated net loss between $285 million and $335 million and estimated adjusted net loss between $335 million and $385 million. Premiums written increased 11.4% from fourth quarter of […]

Filed Under: News Tagged With: Allstate, Claim Frequency, Claim Severity, Premiums

Urban Office Occupancy Remains Significantly Below Pre-Pandemic Levels

November 1, 2022 By CollisionWeek Editor

More than two years after the pandemic impacted office and commuter traffic, hybrid work and lower commuting volumes appear to be here to stay. Tuesdays and Wednesdays lead the way for the return-to-office. On average, office occupancy continues to hover around 47%, according to Kastle Systems’s 10-city Back to Work Barometer – this week at […]

Filed Under: News Tagged With: Claim Frequency, Kastle Systems, Office Occupancy, Traffic Volume

Collision Claims Were Up Over 8% in Second Quarter Compared to Last Year

October 21, 2022 By CollisionWeek Editor

Second quarter claims were also within 0.1% of pre-pandemic levels. Losses up over 43% 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 second quarter of 2022 continued to rebound with claims at almost pre-pandemic levels and losses far […]

Filed Under: Research Tagged With: Claim Frequency, Claim Severity, Claims, Losses

State Farm Reports Fewer Animal Collisions in Annual Analysis

October 13, 2022 By CollisionWeek Editor

Pennsylvania had the most animal collision claims. Auto claims data reveals drivers struck less animals than previous year according to an analysis by State Farm, the number one private passenger auto insurer in the United States. Between July of 2021 and June 2022 an estimated 1.9 million animal collisions happened across US roads, 5.5% less […]

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

USAA to Introduce Crash Detection Technology as Claims and Collision Repair Costs Increase

August 18, 2022 By CollisionWeek Editor

Telematics innovation comes as rising claim volumes and costs seen across the insurance industry. USAA announced it is among the first auto insurance carriers to implement crash detection technology, an innovation that simplifies and expedites the claims process. This technology comes at a critical time as auto accidents have surged past pre-pandemic levels, exacerbating supply […]

Filed Under: News Tagged With: Claim Frequency, Claim Severity, Telematics, USAA, Usage-Based Insurance

Berkshire Hathaway Reports GEICO Collision Claims Severity Up 19-20% in Second Quarter Compared to Last Year

August 8, 2022 By CollisionWeek Editor

Reports underwriting loss as higher used car prices and shortages of collision repair parts increase severity. Berkshire Hathaway reported its second quarter 2022 earnings, including details about its GEICO subsidiary, the second largest private passenger auto insurer in the U.S. on August 6. GEICO’s pre-tax underwriting loss in the first half of 2022 reflected increased […]

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

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