Insurance association warns that higher auto loss severity and rising claims frequency pushing costs up to levels not seen since 2017. Rising auto accident frequency and severity in the U.S. auto insurance market, combined with the challenges of balancing supply and demand for vehicles and vehicle parts following COVID-19, are resulting in increased claims costs […]
Research Shows Crash Avoidance Technology Results in Larger Collision Claims Reduction for Young Drivers than Other Age Groups
Crash avoidance features seem to benefit young drivers more than others according to an analysis of insurance data by the Highway Loss Data Institute. Crash avoidance systems are associated with larger reductions in the frequency of collision and property damage liability (PDL) claims for drivers under 25 years old than those ages 25 and older, […]
Collision Claims Down 13% in First Quarter Compared to 2020
While improving from the 35% decline in second quarter of 2020, the first quarter benefited from a weak comparison last year at start of pandemic. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that claims and losses have continued to rebound from the historic impact from the […]
Crash Rates Up Following Marijuana Legalization
Studies by IIHS and HLDI show crash rates up in Western U.S. states that legalized recreational use and retail sales of marijuana. According to research from the Insurance Institute for Highway Safety (IIHS), and another by the affiliated Highway Loss Data Institute (HLDI), crash rates and collision claim frequencies spiked in most states following the […]
Collision Claims Down Over 20% in 2020 Compared to Previous Year
While improving versus the over 35% decline in second quarter, the fourth quarter was still down substantially. Earned car years grew at highest rate since 2017. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that the historic impact of coronavirus lockdowns on private passenger collision claims continued […]
Interview: Susanna Gotsch, CCC Information Services
In our video interview, Gotsch details November and December claims trends and projections for 2021. While the collision industry was beginning to recover from the government mandated business shutdowns and stay-at-home orders that decimated traffic volume in the spring, the resurgence of the coronavirus in the fall and winter months is causing concern the recovery […]
Collision Claims Declined Over 35% in Second Quarter Compared to 2019
Coronavirus lockdowns in the U.S. dramatically impacted quarterly claims and losses in the first half of 2020. Earned car years, however, continued to grow. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) quantifies the historic impact of coronavirus lockdowns on private passenger collision claims and losses during the […]
CCC Reports Repairable Claims Down Over 22% in September
Driving and claims continued to be depressed in wake of pandemic. According to the CCC AutoClaims Snapshot for September, repairable appraisal counts for the industry in September 2020 remained down from the same month last year and the decline actually increased compared to August. According to CCC, repairable claims in September were down 22.7% versus […]
CCC Reports Repairable Appraisals Down Almost 15% in August Compared to 2019
U.S. auto physical damage repairable appraisals improved in August compared to the previous month as severe weather in several areas of the country bolstered comprehensive claims according to the CCC Auto Claims Snapshot for August. According to CCC’s latest report, overall repairable appraisal counts for the U.S. were down 14.9 percent in August 2020 versus […]
UK Motor Claims Fell 48% in the Second Quarter Compared to First
The average claim value reached a record high. As expected, the number of motor insurance claims notified to insurers in the second quarter of the year fell significantly according to figures out today from the Association of British Insurers (ABI). The fall largely reflected the lockdown period, when far fewer vehicle journeys were made. Claim […]
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