First quarter claims remain over 4% below 2019 level. Losses up nearly 35% compared to 2019. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that claims and losses in the first quarter of 2022 continued to rebound with claims nearing pre-pandemic levels and losses far above historic […]
Report Says Car and Truck Insurers Confront Rapidly Rising Claims Costs
S&P Global Market Intelligence’s annual U.S. Auto Insurance Market Report projects combined ratio at 4-year high in 2021. Sharply higher costs to repair and replace vehicles will cause insurance companies’ underwriting profit margins to narrow significantly, projects S&P Global Market Intelligence’s annual US Auto Insurance Market Report. Published by S&P Global Market Intelligence’s Financial Institutions […]
Collision Claims Down in Second Quarter
Auto physical damage indicators influencing collision repair industry volume declined during the second quarter of 2019 compared to the previous year. Loss cost continues to increase. According to the latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS), private passenger collision claims decreased in the U.S. during the 12 months […]
UK Insurers Report Collision Repair Costs Up 5% in 2018
Motor insurance pay-outs so far this year have reached a record level with over £23 million ($29.5 million) being paid every day, according to figures out today at the ABI’s Motor Conference. The pay-outs cover theft, own vehicle and third-party property damage, as well as personal injury compensation. Rising repair bills and theft claims are […]