Jason Stahl and Nadine Battah count down the top 10 news stories of 2023.
Drum roll, please … here are the top 10 news stories of 2023!
- Texas Jury Awards State Farm Policyholder $277,000. A Texas jury gave State Farm a quarter million reasons to be a better neighbor to its policyholders when a Rusk County District Court found the insurance giant had knowingly or intentionally engaged in unfair and deceptive acts or practices in Joseph Wayne Collins v. State Farm Mutual Automobile Insurance Company.
- FOX19 Spotlights Cincinnati Shop Owner’s Beef with Allstate. FOX19 NOW covered a Western Hills body shop owner’s dispute with Allstate, asking him why he posted a sign in front of the shop stating, “Allstate insurance claims are not accepted at this time, ask our customers why.”
- Maryland Passes New Calibration Law. The Maryland state legislature passed Senate Bill 793 establishing consumer protections related to the repair or replacement of glass on motor vehicles equipped with ADAS.
- State Farm Hit with Class Action Over Luxury Vehicle Repairs. A class action lawsuit was filed against State Farm accusing them of short-paying policyholders with high-value luxury vehicles.
- Washington DOI to Address Historic Increase in Complaints. Washingtonians were filing complaints about their auto and homeowners insurance issues at a record pace, and complaints involving auto insurance were responsible for most of the rise, with the majority of the auto insurance complaints revolving around how (and how fast) claims are handled.
- GM to Invest $20.5 Million to Prepare for EVs. General Motors announced plans to invest $20.5 million across three of its Customer Care and Aftersales parts distribution centers, located in Memphis, Tenn., Ypsilanti, Mich., and Burton, Mich., to implement a variety of automation technology to modernize warehouse operations as GM prepared for industry growth and electric vehicle readiness.
- CRASH Network Releases Results of Insurer Report Card. CRASH Network released the results of its latest “Insurer Report Card”, with results showing that only one of the 10 largest auto insurers in the country, American Family, scored higher than the national average score to earn a “C+” or better grade, while Allstate earned the lowest grade among the 10 largest insurers (“D+”).
- LKQ Enters into Definitive Agreement to Acquire Uni-Select. LKQ Corporation and Uni-Select Inc. announced that they entered into a definitive agreement for LKQ to acquire all of Uni-Select’s issued and outstanding shares for $48 per share Canadian in cash, representing a total enterprise value of approximately $2.1 billion U.S.
- Auto Care Industry Expected to Grow 8.1% in 2023. The Auto Care Association’s 2024 Auto Care Factbook predicted that the automotive aftermarket would grow substantially in 2023, by 8.1%, followed by steady and sustainable growth from 2024 to 2026 to the tune of 3.5% to 4.0%.
- NABC Donates Recycled Ride to Arizona Woman. The National Auto Body Council, along with GEICO and Painter’s Collision Centers, donated a refurbished vehicle via the NABC’s Recycled Rides program to a deserving Scottsdale, Arizona, resident to provide her independence and the ability to work and take care of her family.
