Property/Casualty Insurers’ Net Income Down 50 Percent in First Quarter
The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2 billion in first quarter 2008 from $16.2 billion in first quarter 2007 and a cyclical peak of $17.7 billion in first quarter 2005. Reflecting the declines in net income, the property/casualty industry’s annualized rate of return on average policyholders’ surplus (statutory net worth)
OEConnection Introduces ServiceAdvantage
OEConnection LLC, the company that’s partnering with State Farm on its electronic parts ordering pilot program, today announced its expansion into dealership service lanes with the introduction of ServiceAdvantage to General Motors dealerships. The company, which specializes in the online buying, selling and analysis of original equipment parts, claims that this customizable Web-based tool designed collaboratively with General Motors dealerships will help dealership
AMI Announces 2008-2009 Board of Trustees
The Automotive Management Institute (AMI) announced the members of its 2008-2009 Board of Trustees, with George Witt, AAM, George Witt Service, Inc., Lincoln, Neb., re-elected as chairman; Bob Pearson, AAM, Precision Auto Collision Center, Shakopee, Minn., re-elected as treasurer; and Freda Thompson, AAM, Ace Auto Body, Inc., Hartselle, Ala., re-elected as secretary. Other
I-CAR Holds First Collision Repair Facility Industry Segment Advisory Council Meeting
I-CAR took another step toward better serving the collision repair industry by holding the first meeting of the Collision Repair Facility Industry Segment Advisory Council on May 7. The stated goal was to "gather feedback from the industry to provide products and services that are effective, relevant, contemporary and meet the training needs across all inter-industry segments."
Midwest Collision Industry Forum to be Held June 18
AASP of Missouri, ASA MOKAN and SCRS MOKAN have announced that the 3rd Missouri Collision Industry Forum will be hosted as the "Midwest Collision Industry Forum" on June 18, 2008. The Coalition of Associations felt that the name was appropriate since so many people from out of state chose to attend the two previous forums. “It’s a tremendous
Recycled Rides Sets Goal of 100 Vehicle Donations in 2008
Recycled Rides is scheduled to make 100 simultaneous vehicle donations throughout the country the week of Thanksgiving, with Met Life Auto Home contributing the first vehicle for the 2008 program. The National Auto Body Council (NABC) community awareness project consists of NABC members repairing and donating recycled vehicles to families in need throughout the United
California Senate Judiciary Committee Approves CRA Factory Parts Bill
The California Senate Judiciary Committee approved the Collision Repair Association of California (CRA)-sponsored Senate Bill 1059 by a 3-2 vote and agreed to add the following provision to the bill: “At the time of sale, the insurer shall specifically notify the insured whether the insurance contract allows for the use of aftermarket parts, and that such use may
California Senate Judiciary Committee Approves CRA Factory Parts Bill
The California Senate Judiciary Committee approved the Collision Repair Association of California (CRA)-sponsored Senate Bill 1059 by a 3-2 vote and agreed to add the following provision to the bill: “At the time of sale, the insurer shall specifically notify the insured whether the insurance contract allows for the use of aftermarket parts, and that such use may
Legislative Lowdown
California – The Collision Repair Association of California’s (CRA) two sponsored bills, Senate Bills 1059 and 1167, were heard by the Senate Committee on Banking, Finance and Insurance on April 2, coinciding with CRA’s Legislative Day. The CRA says insurers successfully convinced the California Chamber of Commerce to oppose S.B. 1167, which mandates that once
Rhode Island Bill Would Prohibit Deductible Rebates
The Rhode Island House is considering a bill that would prevent shops from rebating or offering to rebate a customer’s deductible to entice the customer to choose a particular shop. State Rep. Timothy A. Williamson (D-West Warwick) introduced House Bill 7994 on Feb. 28. If enacted, violations would be grounds for denial, suspension or revocation