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You are here: Home / Archives for Claim Frequency

Collision Claims and Losses in Third Quarter Down Compared to 2022

February 8, 2024 By CollisionWeek Editor

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 […]

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

Mitchell EV Collision Repair Insights Report Shows Lower Total Loss Rate than ICE Vehicles

November 9, 2023 By CollisionWeek Editor

EVs make up almost 2% of repairable claims in U.S., over 3% in Canada. Mitchell released its latest trends report: Plugged-In: EV Collision Insights. This quarter’s report examines total loss frequency for electric and ICE automobiles. In the U.S. and Canada from Q1 to Q3 2023, the EV total loss rate was 7.25% for models […]

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

GEICO Reports Collision Claims Severity 5-7% Higher in First Nine Months of 2023 Compared to Last Year

November 6, 2023 By CollisionWeek Editor

Frequency was down, but severity up year-to-date through third quarter. Policies in force down over 12% as company reduces advertising and focuses on profitability. Berkshire Hathaway reported its third quarter earnings, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. on November 4. GEICO’s pre-tax underwriting earnings in […]

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

Collision Claims in Second Quarter Down Compared to 2022

November 1, 2023 By CollisionWeek Editor

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 […]

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

State Farm Reports 1.8 Million Animal Collisions in 12 Months to June 30

September 13, 2023 By CollisionWeek Editor

November is still the most dangerous month with an industry-estimated 297,000 collisions. New data released from State Farm pegs the odds of U.S. drivers hitting an animal at 1 in 127 this year. Drivers in West Virginia held on to the number one spot with the least favorable odds at 1 in 38. Montana (1 […]

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

GEICO Reports Collision Claims Severity 7-9% Higher in First Half of 2023 Compared to Last Year

August 7, 2023 By CollisionWeek Editor

Frequency was down for first half. Policies in force down 14.4% as company reduces advertising and focuses on profitability. Berkshire Hathaway reported its second quarter earnings, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. on August 5. GEICO’s pre-tax underwriting earnings in the first six months of […]

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

Collision Claims in First Quarter Up Compared to 2022

July 19, 2023 By CollisionWeek Editor

Claims in the first quarter of 2023 were up over 1% versus the same quarter in 2022. Losses were up over 41% compared to 2019. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that the post-pandemic rebound in claims restarted in the first quarter of 2023 and […]

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

Collision Claims in Fourth Quarter Slightly Down Compared to 2021

May 17, 2023 By CollisionWeek Editor

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

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

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