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Insurance and Collision Repair Organizations to Participate in Nevada Public Forum on Auto Insurance Rates November 1

October 13, 2023 By CollisionWeek Editor

The Nevada Division of Insurance (Division) has announced that it will be hosting a live webinar panel discussion to address questions and concerns about the rising costs of auto insurance in Nevada. This event will be held virtually on Wednesday, November 1, 2023, from 10:00 AM – 11:30 AM (PDT) and is open to the […]

Filed Under: News Tagged With: Insurance Department, Nevada, Premiums, Webinars

Top 10 Auto Insurance Companies by State in 2022

September 14, 2023 By CollisionWeek Editor

The latest report on the U.S. private passenger auto insurance market from the NAIC details the top 10 insurers in each state in 2022 as well as the size of each market overall. Data from the National Association of Insurance Commissioners (NAIC) provides a detailed view on the size and scope of the private passenger […]

Filed Under: Research Tagged With: Auto Insurance, Net Written Premiums, Premiums

U.S. Auto Insurer Profit Recovery Slow to Materialize

August 21, 2023 By CollisionWeek Editor

Fitch Ratings says publicly-traded auto insurers continue to report underwriting losses even with higher rates. According to a report by Fitch Ratings, most publicly-traded U.S. personal auto insurers continued to report underwriting losses in the first half of 2023 despite sharper improvement in premium rates. The first half of 2023 was marked by continued unfavorable […]

Filed Under: News Tagged With: Auto Insurance, Fitch, Premiums

U.S. Auto Body Repair Prices Up Over 5% in July Compared to Last Year

August 18, 2023 By CollisionWeek Editor

Prices were also up on a month-over-month basis. The most recent government figures on inflation through July show the rate of growth of auto body repair prices continues to be above the rate of general inflation for the 25th month in a row, but the year-over-year (YoY) rate of increase continues to decline compared to […]

Filed Under: Research Tagged With: Auto Body Repair Prices, consumer price index, Inflation, Premiums

North Carolina Insurance Commissioner Causey Negotiates Settlement on Auto Insurance Rates

August 10, 2023 By CollisionWeek Editor

Settlement will save drivers $1.6 billion over the next two years. Insurance Commissioner Mike Causey announced a settlement with the N.C. Rate Bureau on automobile insurance rates. The settlement is about two-thirds less than the insurance companies had requested. On February 1 the Rate Bureau requested an overall average statewide increase in of 28.4 % […]

Filed Under: News Tagged With: Insurance Commissioner, North Carolina, Premiums

Car Insurance Rates Up 17% in the First Half of 2023

July 26, 2023 By CollisionWeek Editor

Another 4% increase projected before the end of the year. The average annual cost of a car insurance policy surged $240 to $1,668 in the first six months of 2023, up from $1,428 in 2022. Prices will increase another 4% before the end of the year, according to Insurify’s latest auto insurance report. The report […]

Filed Under: News Tagged With: Auto Insurance, Insurify, Premiums

Allstate Announces Auto Rate Increases of Over 11% in 12 Markets

July 21, 2023 By CollisionWeek Editor

National General brand auto rates also increasing. Announces $1 billion in catastrophe losses for June. The Allstate Corporation (NYSE: ALL) yesterday announced that during the month of June, the Allstate brand implemented auto rate increases of 11.6% across 12 locations, resulting in total brand premium impact of 2.6%. In addition, Allstate reported National General brand […]

Filed Under: News Tagged With: Allstate, National General, Premiums

Allstate Announces April Implemented Auto Rate Increases of 9.3% Across 15 Locations

June 16, 2023 By CollisionWeek Editor

Rate increases since the beginning of the year expected to raise written premiums by $1.28 billion. The Allstate Corporation (NYSE: ALL) announced that during the month of May, the Allstate brand implemented auto rate increases were of 9.3% across 15 locations, resulting in total brand premium impact of 1.6%. “Allstate continued to implement significant auto […]

Filed Under: News Tagged With: Allstate, Premiums

Allstate Announces April Implemented Auto Rate Increases of 8.6% in 13 Locations

May 18, 2023 By CollisionWeek Editor

Rate increases since the beginning of the year expected to raise written premiums by $862 million. The Allstate Corporation (NYSE: ALL) announced that during the month of April, the Allstate brand implemented auto rate increases were 8.6% across 13 locations, resulting in total brand premium impact of 1.6%. “Allstate continued to implement significant auto insurance […]

Filed Under: News Tagged With: Allstate, Net Written Premiums, Premiums

Allstate Reports Auto Rate Increases of 7.6% in 10 Markets During March

April 21, 2023 By CollisionWeek Editor

The Allstate Corporation (NYSE: ALL) announced its catastrophe losses, implemented auto insurance rate increases and reserve reestimates for March and first quarter 2023. Allstate was the fourth largest private passenger auto insurance company in 2022 based upon direct premiums written. Estimated catastrophe losses for the month of March of $1.17 billion or $927 million, after-tax. […]

Filed Under: News Tagged With: Allstate, Premiums

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