LKQ North America is using Tractable’s Artificial Intelligence (AI) to accelerate and optimize the recycling of the salvage vehicles LKQ procures across their North America segment. The AI uses computer vision, a technology that allows algorithms to reason based on images, to assess the specific damage on each vehicle and determine which parts can be […]
Rhode Island Legislation Seeks to Clarify Paint, Body and Refinish Materials Payment Regulations
Bills specify examples of materials calculators. Requires vehicle owner written consent if insurer not retaining salvage. Prohibits insurers refusing to pay for sublet services. Two bills introduced in Rhode Island seek to update Unfair Claims Practices laws to provide specific examples of materials calculation systems and add a requirement that insurers get written consent from […]
IAA Partners with NASCAR to Expand Capacity for Catastrophe Services
IAA, Inc. (NYSE: IAA) and NASCAR Enterprises, LLC., announced an exclusive agreement that further increases IAA’s catastrophe capacity footprint by enabling the vehicle auction firm to leverage NASCAR facilities for total loss vehicle storage after a catastrophe.. The agreement expands an already long-term relationship between the two organizations. In addition to the company’s other catastrophe […]
IAA Launches Active Inventory Management Solution for Salvage
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services, Inc., (NYSE:KAR), today announced its latest innovation, Active Inventory Management service that enables insurance company customers to save time and resources by outsourcing their entire salvage inventory management process to IAA. “IAA developed the Active Inventory Management solution to help our insurance customers […]
Automotive Recyclers Question General Motors Position Statement on Recycled Parts
Recyclers believe position statement counter to GM commitment on environment and sustainability. The Automotive Recyclers Association (ARA) is admonishing General Motors (GM) and its Chairman and Chief Executive Officer (CEO) Mary Barra for what it states is “GM’s new anti-environmental position on the utilization of recycled GM parts.” According to the association, that represents the […]
Utah Bill Seeks to Allow Unlicensed Salvage Buyers
Proposed legislation would allow unlicensed salvage buyers to register with the Motor Vehicle Enforcement Division to purchase salvage vehicles. Utah Senate Bill 174 (SB174) proposes to amend Section 41-3-201 of the Utah code to create a statewide database to report and track the sale of salvage vehicles and allow for the purchase by unlicensed buyers. […]
Missouri and North Carolina Get New Salvage Laws
The legislatures of Missouri and North Carolina have both had salvage vehicles on their agenda this year, and it looks like they will both soon have new laws as a result. Introduced in April, North Carolina House Bill 1152 is aimed squarely at total loss and reconstructed vehicle disclosure. The bill proposes requirements to not […]