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You are here: Home / Archives for Claim Severity

Tariffs Loom Over Rising Battery Electric Vehicle Claims

May 20, 2025 By CollisionWeek Editor Leave a Comment

Mitchell quarterly update on EV repair trends show growing repairable claims, declining severity. Mitchell, an Enlyte company, has released its Q1 2025 edition of the Plugged-In: EV Collision Insights report, spotlighting new challenges and trends as the adoption of battery electric vehicles (BEVs) accelerates across North America. The quarterly update reveals a continued rise in […]

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

GEICO Reports $11.5 Billion Premiums Written in First Quarter

May 6, 2025 By CollisionWeek Editor Leave a Comment

Written premiums up over 6%. Collision claims frequency down 6-9 percent in quarter compared to 2024. Berkshire Hathaway reported its 2024 earnings on May 3, providing details on its GEICO subsidiary—the third-largest private passenger auto insurer in the U.S. GEICO’s pre-tax underwriting earnings climbed to $2.173 billion in the first quarter of 2025, up $245 […]

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

GEICO Reports 7.7% Rise in Premiums Written for 2024

February 24, 2025 By CollisionWeek Editor

Collision claims frequency down 8-9 percent compared to 2023. Berkshire Hathaway reported its 2024 earnings on Feb. 22, providing details on its GEICO subsidiary—the third-largest private passenger auto insurer in the U.S. GEICO’s pre-tax underwriting earnings climbed to $7.813 billion in 2024, up $4.178 billion, or 114.9 percent, from $3.635 billion in 2023. The improvement […]

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

Mitchell Reports Collision Claims Increased by More Than 30% for BEVs Last Year

February 21, 2025 By CollisionWeek Editor

Average severity plateaued and total losses increased. Mitchell, an Enlyte company, announced the latest release of its Plugged-In: EV Collision Insights report. This edition features an overview of the most notable annual trends in battery electric vehicle (BEV), mild hybrid electric vehicle (MHEV) and plug-in hybrid electric vehicle (PHEV) collision claims. Following a second year […]

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

Wall Street Journal Article on Rising Cost of Collision Repair Features ASA Leaders 

November 13, 2024 By CollisionWeek Editor

ASA Board Chairman Scott Benavidez and Incoming Chair Dan Stander provided insight on the causes behind the rising costs of collision repairs in a November 7 article in the Wall Street Journal. Benavidez, owner of Mr. B’s Paint and Body Shop in Albuquerque, N.M. and Stander, owner of FIX Auto Highlands Ranch in Littleton, Colo., […]

Filed Under: News Tagged With: Advanced Driver Assistance Systems, Automotive Service Association, Claim Severity

CCC Reports Total Cost of Repair Up 3.7% in First Half of 2024

October 3, 2024 By CollisionWeek Editor

Third quarter Crash Course report explores trends impacting auto claims and collision repair. CCC Intelligent Solutions Inc. (NASDAQ:CCCS) today published its Crash Course Q3 2024 Report, identifying the key trends that will shape the auto claims and collision repair industry in 2025. The report examines pressing challenges such as the impact of inflation and labor […]

Filed Under: News Tagged With: CCC, Claim Severity, Crash Course, Electric Vehicles, Labor Rates, Total Loss

Mitchell Reports Battery Electric Vehicle Collision Claims Continue to Rise Despite Sales Slowdown

August 15, 2024 By CollisionWeek Editor

Claims frequency for repairable battery electric vehicles has jumped 45% in the U.S. and 39% in Canada year-over-year while increasing more gradually for hybrids. Mitchell, an Enlyte company today published its Q2 2024 Plugged-In: EV Collision Insights report. This edition features the latest U.S. and Canadian claims data on battery electric vehicles (BEVs), mild hybrid […]

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

GEICO Reports Premiums Written Up 10.7% in Second Quarter

August 6, 2024 By CollisionWeek Editor

Collision claim frequency was down in range of 6-7% in the quarter, but severity was up. Berkshire Hathaway reported its earnings for the second quarter of 2024 on August 3, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. GEICO’s pre-tax underwriting earnings in the first six months […]

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

CCC Second Quarter Crash Course Report Examines Growing Impact of Severe Weather Events on Auto Insurance and Collision Repair

June 25, 2024 By CollisionWeek Editor

CCC Intelligent Solutions Inc. (NASDAQ: CCCS) today published its Crash Course Q2 2024 Report. This edition examines how severe weather events, particularly hurricanes and convective storms, are impacting the auto insurance and collision repair industries, and provides updates on data, insights, and trends impacting auto claims and repairs. The report is based on information derived […]

Filed Under: News Tagged With: Catastrophe Claims, CCC, Claim Severity, Crash Course

LexisNexis Report Highlights Generational Risks in Drivers and Vehicles that Contribute to Higher Claim Frequencies

June 21, 2024 By CollisionWeek Editor

LexisNexis Risk Solutions released its 2024 U.S Auto Insurance Trends Report, which aggregates annual market data about consumer driving patterns, auto insurance shopping trends, claim frequency and severity, and consumer responses to rate increases to help insurance carriers better understand the evolving trends impacting the U.S. auto insurance industry. Key takeaways Risky driving behavior rises […]

Filed Under: News Tagged With: Claim Frequency, Claim Severity, LexisNexis Risk Solutions, Total Loss

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