LexisNexis Risk Solutions released its 2023 U.S Auto Insurance Trends Report, which aggregates annual market data about driving behaviors, consumer auto insurance shopping, underwriting and claims to help insurance carriers better understand the evolving trends impacting the U.S. auto insurance industry. This year’s report analyzes 2022 data and tracks macro-market conditions such as volatile shopping […]
Reuters Reports on Concerns that Scratched EV Batteries Lead to Total Losses
A report by Reuters yesterday raised concerns that even slightly damaged electric vehicle (EV) batteries are causing auto insurers to total loss more vehicles. The article says that since there is no way to assess damage to the batteries or repair them, insurers are forced to write off the vehicles, causing higher insurance premiums and […]
PA Attorney General Charges 19 Individuals and 13 Businesses in Title Washing of Reconstructed Total Loss Vehicles
Alleged criminal enterprises submitted fraudulent reconstructed vehicle title applications to PennDOT, leading to potentially dangerous cars on the road. Pennsylvania Attorney General Josh Shapiro announced criminal charges against 19 individuals and 13 separate businesses for “title washing.” The participants in these criminal rings included George Frietto of George’s Garage, Luis Salazar of Salazar Auto Sales […]
Selective Insurance Will Remove Personally Identifiable Information in Vehicle Following a Total Vehicle Loss
Selective Insurance today announced that it will remove personally identifiable information from eligible private passenger vehicles and light duty trucks after they’re declared a total loss. This new solution deletes sensitive electronic data, such as GPS addresses, phone contacts, telematics, garage and gate opening capabilities, and other personally identifiable information. Personal and business vehicles that […]
Mitchell Partners with LossExpress to Accelerate Total Loss Settlements
Mitchell, an Enlyte company serving the Property & Casualty (P&C) claims and Collision Repair industries, today announced that its advanced vehicle valuation solution now delivers full lender coverage and automated tax and fee calculations for total loss claims. These enhancements are designed to streamline the total loss settlement process for carriers by integrating Mitchell’s advanced […]
Rhode Island Legislature Votes to Overturn Governor’s Veto of Unfair Claims Practices Regulation Bill
Legislation revises the state’s unfair claims handing regulations related to total losses, sublet markup and refinish materials calculations. The Rhode Island House and the Senate voted to overturn Rhode Island Governor Dan McKee’s July veto of House Bill 6324 (HB 6324) during its session on Tuesday, January 4 at the State House. The Rhode Island […]
Rhode Island Legislators Plan Vote to Overturn Governor’s Vetoes of Collision Repair Bills
The legislation that was vetoed in July revises Rhode Island’s unfair claims practices regulations related to sublet markup and refinish materials calculations among other items. The Rhode Island House and the Senate announced last week it will return to session on Tuesday, January 4 at the State House to finish up several matters from the […]
IAA and Fastlane Partner to Streamline Total Loss Claims Settlements
IAA, Inc. (NYSE: IAA) announced a strategic industry partnership with Fastlane, a process automation technology company, to leverage its LossExpress solution, a secure platform that connects insurers with the largest active lienholder network in the United States. As the exclusive salvage provider partner to Fastlane, IAA is now positioned to become the first salvage company […]
NICB VINCheck Service Enhanced With Photo Search Capability
The National Insurance Crime Bureau (NICB), the insurance industry’s association dedicated to predicting, preventing, and prosecuting insurance crime, proudly announces an upgrade to its popular VINCheck service. A new photo feature allows users to take a picture of the vehicle identification number with any camera-ready device, and VINCheck will take care of the rest. […]
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 […]