New York Attorney General Letitia James and New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris today secured $11.3 million in penalties from two auto insurance companies, the Government Employees Insurance Company (GEICO) and The Travelers Indemnity Company (Travelers), for having poor data security which led to the personal information of more […]
Colorado Adjuster Sentenced in Auto Insurance Fraud Lawsuit
Mastermind of $268k auto insurance fraud scheme sentenced to 20 years of probation. Colorado Attorney General Phil Weiser announced August 20 the sentencing of a woman who worked as an insurance claims adjuster and masterminded a scheme to steal hundreds of thousands of dollars in fraudulent auto insurance claims. Colette Palin, 63, of Aurora, Colo. was […]
Travelers Insurance Will Offer Claim Payments via PayPal
The Travelers Companies, Inc. (NYSE:TRV) announced that its Auto, Property and General Liability customers can now receive claim payments through the digital payments platform PayPal. Travelers’ link to PayPal comes through Global Digital Disbursements, a service provided by Global Transaction Services at Bank of America Merrill Lynch. “The sooner our claimants are paid, the sooner […]
Lexus Partners with Travelers to Include Auto Insurance in Lease Program
Lexus today announced a complete lease program that offers single monthly payment that includes insurance, scheduled maintenance and other services. Lexus has chosen Travelers for the Lexus Complete Lease. The auto insurance policy from Travelers includes auto liability and physical damage coverage with a $500 deductible. The program is currently available on any Lexus UX […]
Lyft Names Travelers Exclusive Provider of U.S. Auto Insurance Claim Management
The Travelers Companies, Inc. (NYSE: TRV) today announced that, effective Feb. 1, it will become the exclusive provider of U.S. auto insurance claim services for Lyft, the rideshare company. “Lyft is a dynamic organization that’s at the forefront of the future of transportation,” said Nick Seminara, Travelers’ Executive Vice President of Claim Services. “Travelers’ investments […]
Largest Auto Insurers Added Market Share in 2015
The largest private passenger auto insurers in the U.S. gained market share in 2015. Growth continues long term trend. Since 2000, the largest private passenger automobile insurers have been growing their combined market share and more than half of all private passenger auto insurance in the United States is handled by just five companies. The […]