A Near-Term Return to Underwriting Profit in Auto ‘Highly Unlikely’: AM Best
Apparently, nothing has changed within the last several months to change AM Best's negative outlook on the U.S. personal lines insurance segment.
Allstate Sees Q3 Net Loss; Auto Reserve Boosts More Damaging Than Ian
Allstate expects to report a bottom-line third quarter net loss in the range of $675-$725 million and a combined ratio of 111.6, including 7.8 points from reestimates of prior year auto loss ...
Progressive Loses A Bundle: Nearly $2.0B Gross Ian Losses; $760M Net
Insurer Progressive incurred nearly $2.0 billion in gross loss and loss adjustment expenses for vehicle and property claims related to Hurricane Ian, sending over $1 billion of the total to ...
Rising Auto Rates Affecting ‘Bundle’ Strategy: J.D. Power
Bundling home and auto insurance may have hit a roadblock as consumers have started to break up policies largely due to increases in auto insurance premiums, according to J.D. Power. Overall ...
Autobrake Performance Dips After Sundown: IIHS
A nighttime test of pedestrian automatic emergency braking (AEB) systems to address the high percentage of pedestrian crashes that occur on dark roads has been introduced by the Insurance Institute ...
Outlook Negative: AM Best Revises U.S. Personal Lines as Auto Results Weaken
AM Best said it held the belief that the U.S. personal auto line would right the ship following weakening performance in 2021, but headwinds such as inflation remain too strong, and the rating agency ...
Pandemic Challenges Driving Auto Insurers Further Into a Hard Market
A microchip shortage. Logistics industry backlogs. Supply and labor challenges. Worsening driver behavior. Social inflation. These are just a few challenges the auto industry is currently grappling ...
With a Few Exceptions, Personal Insurance Shopping Subdued in Q2 2022
Auto insurance shopping was down 3 percent overall in second-quarter 2022 compared to the same period in 2021. That trend was primarily driven by a significant decrease by higher-risk consumers, ...
Georgia Insurance Commissioner Slams Allstate’s 25% Auto Rate Increase
The Georgia insurance commissioner is publicly shaming one of the country's largest auto insurers after the carrier announced an average 25 percent rate increase in the state. "I am angry and ...
U.S. Traffic Deaths Hit 20-Year High in Early 2022
U.S. traffic deaths jumped about 7 percent in the first three months of 2022 to 9,560, the highest number of people killed on American roads in a quarterly period since 2002, regulators said on ...