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You are here: Home / Archives for National Association of Insurance Commissioners

Top 10 U.S. Auto Insurers Had Over 75% Market Share in 2021

April 1, 2022 By CollisionWeek Editor

NAIC reports auto insurance premiums earned up over 3% in 2021. Total direct premiums earned on private passenger auto insurance were $257.7 billion in the U.S. in 2021, up over $7 billion, or 3.1% from $250 billion in 2020 according to final data released March 28 by the National Association of Insurance Commissioners (NAIC). The […]

Filed Under: Research Tagged With: Auto Insurance, National Association of Insurance Commissioners

National Association of Insurance Commissioners Elects 2021 Officers

December 14, 2020 By CollisionWeek Editor

2021 NAIC Officers

Members of the National Association of Insurance Commissioners (NAIC) elected officers for 2021 on December 9 during the closing activities of its Fall 2020 National Meeting. The following officers were elected for 2021: President: Florida Insurance Commissioner David Altmaier David Altmaier was appointed Commissioner of the Florida Office of Insurance Regulation (OIR) by the Financial […]

Filed Under: News Tagged With: National Association of Insurance Commissioners, People

Auto Physical Damage Insurance Underwriting Profit Up in 2017

December 11, 2018 By CollisionWeek Editor

NAIC Auto Physical Damage Profit including investment gains

The latest statistics from the National Association of Insurance Commissioners indicates that the private passenger auto physical damage insurance returned to profit in 2017. Data contained in the National Association of Insurance Commissioners (NAIC) report on profitability by insurance line in 2017, released this month, showed some improvement in private passenger auto physical damage (APD) […]

Filed Under: Research Tagged With: Auto Insurance, National Association of Insurance Commissioners, Profitability

PCI Reports Tariffs Could Increase Collision Repair Claim Costs $3.4 Billion

November 20, 2018 By CollisionWeek Editor

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, […]

Filed Under: News Tagged With: Claim Severity, National Association of Insurance Commissioners, Property Casualty Insurers Association of America, Tariffs

Groups Say State Insurance Regulators Fail Consumers on Auto Insurance Affordability Research

September 7, 2018 By CollisionWeek Editor

Consumer groups want Federal Insurance Office to step in saying National Association of Insurance Commissioners report biased towards insurance industry. Insurance industry association calls consumer groups’ comments unfortunate. Consumer groups have called on state insurance regulators to reject a proposed report on auto insurance affordability that the groups said is biased toward industry and fundamentally […]

Filed Under: News Tagged With: Auto Insurance Affordability, Center for Economic Justice, Consumer Federation of America, Federal Insurance Office, National Association of Insurance Commissioners, Property Casualty Insurers Association of America

NAIC Unveils Distracted Driving Awareness Campaign

April 12, 2018 By CollisionWeek Editor

NAIC Keep the Road Code Pledge

The National Association of Insurance Commissioners (NAIC) announced the launch of Keep the Road Code, a new campaign that focuses on preventing distracted driving. April is distracted driving awareness month. “We know that there has been a significant increase in distracted driving accidents and fatalities since 2008,” said Julie Mix McPeak, NAIC President and Tennessee […]

Filed Under: News Tagged With: Distracted Driving, National Association of Insurance Commissioners

Chair of NAIC Antifraud Task Force Elected to Executive Committee of Antifraud Coalition

April 6, 2018 By CollisionWeek Editor

Oklahoma Insurance Commissioner John D. Doak, chair of the NAIC’s Antifraud Task Force, has been named to the executive committee of the Coalition Against Insurance Fraud. He was elected unanimously to the position.  “John Doak brings a valuable dual viewpoint to the Coalition’s mission, both as a state insurance regulator and national anti-fraud leader. This […]

Filed Under: News Tagged With: Coalition Against Insurance Fraud, Insurance Fraud, National Association of Insurance Commissioners

Auto Physical Damage Insurance Underwriting Profit Continues to Decline in the U.S.

January 12, 2018 By CollisionWeek Editor

Auto Physical Damage Insurance Profitability

The latest statistics from the National Association of Insurance Commissioners indicates that the percentage of premiums going to pay losses has continued to increase. Private passenger physical damage insurance turned to a loss in 2016. Data contained in the National Association of Insurance Commissioners (NAIC) report on profitability by insurance line in 2016, released this […]

Filed Under: Research Tagged With: Auto Insurance, National Association of Insurance Commissioners, Profitability

Consumer Groups Call on NAIC to Disband Auto Insurance Working Group

August 8, 2017 By CollisionWeek Editor

Concerns regulators bowing to industry on data collection through third party. Consumer groups are calling on the National Association of Insurance Commissioners (NAIC) to disband its five-year old Working Group on Auto Insurance after the organization’s Auto Study Group following a decision over the weekend by the group to accept an industry plan covering data […]

Filed Under: News Tagged With: Consumer Federation of America, Consumers Union, National Association of Insurance Commissioners

Auto Physical Damage Insurance Underwriting Profit Declined from 2005-2015

January 26, 2017 By CollisionWeek Editor

Latest statistics from the National Association of Insurance Commissioners indicates that the percentage of premiums going to pay losses has increased. Data contained in the National Association of Insurance Commissioners (NAIC) report on profitability by insurance line in 2015, released this month, illustrates the increasing percentage of underwriting dollars going to pay claims on auto […]

Filed Under: Research Tagged With: Auto Insurance, National Association of Insurance Commissioners, Profitability

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