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 […]
IIHS Report Raises Concern on Headlight Replacement Costs
Latest edition of Insurance Industry for Highway Safety’s Status Report examines headlight performance and collision repair cost. Minor crashes can result in big headlight collision repair bills. The cover story in the latest edition of the Insurance Industry for Highway Safety (IIHS) Status Report examines improvements in headlight performance that, while benefiting safety, are often […]
PCI Reports Tariffs Could Increase Collision Repair Claim Costs $3.4 Billion
The Property Casualty Insurers Association of America (PCI) made a presentation Saturday to the National Association of Insurance Commissioners’ (NAIC) Property and Casualty Insurance (C) Committee on the potential effect of tariffs on auto insurance costs and consumers. “Tariffs on auto parts could have a significant adverse economic impact on consumers, automobile repair providers, business, […]
AAA Urges Consumer to Consider Collision Repair Facility ADAS Capabilities When Choosing Shop
AAA research shows advanced driver assistance system double collision repair bills for minor accidents. According to new research from AAA released today, vehicles equipped with advanced driver assistance systems (ADAS) such as automatic emergency braking, blind spot monitoring, lane departure warning and others, can cost twice as much to repair following a collision due to […]