Auto physical damage indicators influencing the collision repair industry continued to increase in the fourth quarter of 2016. Losses on collision claims up over 11 percent for 2016 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 […]
Collision Claims, Frequency and Losses Grew in the Third Quarter 2016
Major auto physical damage indicators influencing the collision repair industry continued to increase in third quarter. Losses on collision claims up 10 percent for year ending in Q3. 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 grow in […]
Allstate Reports Auto Combined Ratio Improvements in 2016
Allstate brand auto insurance average premium increased 7 percent, policies in force declined during fourth quarter The Allstate Corporation (NYSE:ALL) yesterday reported financial results for the fourth quarter and full year of 2016. Total 2016 revenue of $36.5 billion reflected a 3.3 percent increase in property-liability insurance premium and a 5.4 percent increase in Allstate […]
Farmers Reports Vehicle Theft and Failure to Yield Collisions Rising During Winter Months
Last year’s warm winter cut snow and ice collisions by more than half compared to 2013-2014. Expects forecast weather could cause increase this year. According to Farmers Insurance Seasonal Smarts Digest, while winter weather traditionally challenges drivers across America with ice and snow covered roads, new data reveals that slick surfaces aren’t the only hazard […]
Rising Automobile Claims Costs Put Upward Pressure on Price Of Insurance
I.I.I. White Paper Details Increase In Frequency and Severity of auto crashes. Over the past two years, U.S. auto insurance companies have seen private-passenger loss costs rise sharply as insurers receive more, and costlier, claims, according to the Insurance Information Institute (I.I.I.). “There has been an alarming increase in crashes and claims reported. This, combined […]
Collision Claims, Frequency and Losses Grew in the Second Quarter
Major auto physical damage indicators influencing the collision repair industry continued to increase across the board but at rates below the first quarter. Losses on collision claims up 9.6 percent for year ending in the second quarter. According to the latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS), private […]
State Farm Projects 2016 Likelihood of Deer Collision
Cost of large animal claims down slight in 2015-2016 State Farm has released its annual deer claim study, which ranks states by the potential drivers had of hitting a large animal, including deer, elk and moose over a given time period. On average, one of every 41 West Virginia drivers will have an insurance claim […]
Collision Claims, Frequency and Losses Grew in First Quarter
Major auto physical damage indicators influencing the collision repair industry continued to increase across the board. Losses on collision claims up 9.9 percent for year ending in first quarter. 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 grow […]
Insurance Association Applauds U.S. House Action on Marijuana-Impaired Driving Study
The Property Casualty Insurers Association of America (PCI) is applauding a recent House Appropriations Committee vote on the House Fiscal Year 2017 Transportation, Housing, and Urban Development (THUD) spending bill that includes a marijuana-impaired driving research effort. According to Nat Wienecke, senior vice president, federal government relations at the PCI, “PCI applauds the House Appropriations […]
Fatal Road Crashes Involving Marijuana Double in Washington State After Legalization
Fatal crashes involving drivers who recently used marijuana doubled in Washington after the state legalized the drug, according to the latest research by the AAA Foundation for Traffic Safety. New research also shows that legal limits for marijuana and driving are arbitrary and unsupported by science, which could result in unsafe motorists going free and […]
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