Insurance Group: Texas Hailstorm Caused Record $1.3B in Damages
The Insurance Council of Texas says hailstones as large as grapefruit caused estimated insured losses to motor vehicles of about $560 million.
Insurance Company CEO Challenges Auto Industry to Make Cars Safer
Good2Go Auto Insurance Company CEO Joe DeLago argues that automakers are actually encouraging distracted driving by creating dashboards with smartphone features and Wi-Fi capability.
Report Finds Self-Driving Cars May Create Long-Term Challenges for Auto Insurers
Report notes that once self-driving cars are mainstream, accident frequency will fall sharply, translating into significantly lower premiums and lower profits for auto insurers.
AASP/MA Pressures Automobile Insurance Bureau to Withdraw Standard Auto Policy
The most alarming change to the model policy is the addition of language which states “the cost to physically repair the auto is the competitive price, which we secure from a licensed repair facility under our direct payment plan.”
Chubb Insurance Introduces Diminution in Value as Standard in All UK Personal Auto Policies
New coverage a market first in UK auto insurance.
Warren Buffett Weighs in on Driverless Cars
“The only way they’ll be driving everybody around is if they’re regarded as a lot safer,” said Buffett.
Car Crash Victim Says Her Insurance Company Approved “Dangerous Repairs”
A Florida news station takes on a recurring issue once again: Insurance companies accused of steering car crash victims to their preferred shops.
Ohio Court Ruling Shields Auto Insurers from Some Consumer Claims
The ruling stems from an appeal by Farmers Insurance of Columbus in a case in which a Coshocton County couple won $30,600 in damages in a dispute over the use of OEM parts in the repair of their 2-year-old sedan.
Pennsylvania Insurance Commissioner Reminds Consumers That Insurers Can’t Add Surcharge for Deer-Related Crashes
Teresa Miller tells Pennsylvanians that any crash involving a deer is considered a not-at-fault accident.
Is Google on Auto-Pilot, Headed Straight Toward the Insurance Business?
Google’s recent announcement that it will accept responsibility for any accidents resulting from a flaw in the design of its driverless cars may be the opening it needs to slip into the insurance business.
As Auto Injury Claims Frequency Falls, Claims Costs Continue to Rise
Researchers found that the average cost per paid liability claim has jumped more than 30 percent from 2005 to 2013.
Connecticut Supreme Court Delivers $35M Blow to Body Shops
The plaintiffs filed suit in 2003 in an attempt to circumvent the contracts the body shops entered into through The Hartford Fire Insurance Company’s direct repair program.