Legislation seeks to raise threshold before a vehicle is declared a total loss and extends definition on documented procedures sources. Rhode Island legislators have introduced a bill that would raise the state’s total loss threshold and clarify insurers’ obligations regarding OEM repair procedures. House Bill 6053 (HB 6053), introduced on March 12, proposes significant amendments […]
Asbury Automotive Group Acquires Herb Chambers Companies
Sale of 14th largest private dealership group in the U.S. includes 33 dealerships, 52 franchises, and 3 collision repair centers in Massachusetts and Rhode Island. The Asbury Automotive Group, Inc. (NYSE: ABG) announced it signed an agreement to acquire automotive dealerships owned by The Herb Chambers Companies (HCC), the fourteenth largest by revenue privately-owned dealership […]
Rhode Island Passes OEM Parts, Unfair Claims Practice Bills
Legislation prohibits insurers from refusing OEM parts usage on vehicles 48-72 months old. Updates unfair claim practice requirements related to direction to pay on vehicle repairs. The Rhode Island Legislature passed two sets of bills covering the use of OEM parts and unfair claims practices. On June 13, the legislature passed an amended Senate Bill […]
Rhode Island House Committee Approves OEM Parts Bills
Bills would prohibit insurers from refusing OEM parts usage on vehicles 48-72 months old. The Rhode Island House of Representatives Corporations Committee recommended passage of an amended Senate Bill 2440 (SB 2440) and its companion bill, House Bill 7264 (HB 7264) that seek to change existing regulations governing motor vehicle replacement parts. SB 2440 was […]
Rhode Island OEM Parts Bill Passes State Senate
Bill would prohibit insurers from refusing OEM parts usage on vehicles 48-72 months old. Rhode Island Senate Bill 2440 (SB 2440), that seeks to amend Section 27-10.2-2 of Chapter 27 of the Rhode Island General Laws dealing with motor vehicle replacement parts, was approved by the full Senate on May 7. The bill, introduced on […]
Rhode Island Governor Signs Bill Updating Unfair Claims Practices Act
New law requires insurers to pay for documented OEM and paint manufacturer procedures. Also adds independent appraisal provision to settle disputes. Rhode Island Governor Dan McKee signed legislation June 26 that passed by the state legislature earlier in the month that will update several sections of the Rhode Island Unfair Claims Practices Act to address […]
Rhode Island Legislature Passes Bill Updating Unfair Claims Practices Act
Requires insurers to pay for documented OEM and paint manufacturer procedures, adds independent appraisal provision to settle disputed loss amounts. Clarifies direction to pay requirements for auto rentals. The Rhode Island legislature passed a bill June 16 that amends several sections of the Rhode Island Unfair Claims Practices Act to address items such as payment […]
Rhode Island Legislation Seeks to Double Threshold Before Physical Inspection Required on Collision Repair Claims
Legislation that seeks to amend Unfair Claims Settlement Practices regulation adopted in 2019 that set $2,500 threshold and 3-day inspection requirement for auto insurance claims to have hearing today. The Rhode Island Senate Judiciary Committee will hear testimony today on Senate Bill 2784 (SB2784) that seeks to modify the thresholds and timeframe for auto insurers […]
Collision Repair Center Office Secretary Sentenced to Federal Prison for Stealing Over $200,000 from Employer
Rhode Island woman pleaded guilty to mail fraud. A Pawtucket, R.I. woman who, while working as office secretary at Ideal Auto Body in Cranston, devised a scheme to fraudulently obtain the proceeds of nearly 200 checks provided to customers by their insurance companies to pay for vehicle repairs, has been sentenced to two years in federal […]
Garnett Station Partners Invests in VIVE Collision
Garnett Station Partners, LLC, a New York-based principal investment firm founded in 2013 by Matt Perelman and Alex Sloane that manages approximately $1 billion of assets, today announced it has made a growth investment into VIVE Collision a collision repair multi-site operator. Financial terms of the transaction were not disclosed. Founded in 2021 by Vartan […]
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