While repair costs have not increased due to aluminum, analysis shows longer time to repair vehicles and higher claim frequency. The Highway Loss Data Institute (HLDI) reports that Ford’s switch to aluminum for the body of the F-150 pickup hasn’t resulted in higher repair costs, in part because the company is pricing the aluminum parts […]
AM Best Report Personal Auto Insurers Combined Ratio Improves
Severity continues to increase, but frequency growth has leveled. The U.S. private passenger auto segment has experienced a turnaround after weakened performance in 2015-2016, as rate actions and underwriting initiatives resulted in a 3.8-point year-over-year improvement in the sector’s combined ratio in 2017, as well as a 4.7-point loss ratio reduction through third-quarter 2018, according […]
Toyota Safety Sense Equipped Vehicles Top 10 Million Units Globally, 5 Million in North America
Manufacturer reports 70 percent reduction in rear-end collisions in Japan on vehicles equipped with systems. Toyota Motor Corporation announced the total global number of vehicles equipped with Toyota Safety Sense (TSS), the Toyota-developed preventive safety package, has reached the 10 million unit mark, approximately three and a half years after its March 2015 introduction. It […]
Collision Claims Up 6% in First States that Legalized Recreational Marijuana
Crashes are up by as much as 6 percent in Colorado, Nevada, Oregon and Washington, compared with neighboring states that haven’t legalized marijuana for recreational use, new research from the Insurance Institute for Highway Safety (IIHS) and Highway Loss Data Institute (HLDI) shows. The findings come as campaigns to decriminalize marijuana gain traction with voters […]
Deer Crashes Down
State Farm annual report shows reduction in deer-related crashes. American Family reports higher deer hit claim costs. The 16th annual State Farm deer-vehicle collision study shows that overall in the U.S., drivers were less likely – one in 167 – to have a crash involving a collision with deer, elk, moose, or caribou. Last year’s […]
Collision Claims Up in First Quarter
Auto physical damage indicators influencing the collision repair industry improved during the first quarter compared to last year. Claims and losses continue above year ago levels. According to the latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS), private passenger collision claims and losses increased in the U.S. during the […]
Allstate Reports Revenue Up 6.1% in Fourth Quarter, Tax Cuts Save $506 Million
Allstate brand auto net written premiums up 4.2 percent on growth in average premium. Accident frequency declined in the quarter. The Allstate Corporation (NYSE: ALL) reported financial results for the fourth quarter of 2017. In the fourth quarter, the company reported revenue of $9.843 billion, up 6.1 percent from $9.278 billion in the fourth quarter […]
Collision Claims and Losses Down in Third Quarter Compared to Second
Auto physical damage indicators influencing the collision repair industry declined on a quarter by quarter basis for the first time in five years in the third quarter of 2017. Claims and losses continue above year ago levels. According to the latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS), private […]
Collision Claims, Frequency and Losses Up in Second Quarter
Auto physical damage indicators influencing the collision repair industry continued to increase in the second quarter of 2017. Losses on collision claims up nearly 10 percent compared to previous year. According to the latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS), private passenger collision claims and losses continued to […]
HLDI Reports Legalizing Recreational Marijuana Leads to More Collision Claims
Legalizing recreational marijuana use in Colorado, Oregon and Washington has resulted in collision claim frequencies that are about 3 percent higher overall than would have been expected without legalization, a new Highway Loss Data Institute (HLDI) analysis shows. This is HLDI’s first report on how marijuana legalization since 2014 has affected crashes reported to insurers. […]