auto insurance News
GEICO Faces Class Action for Allegedly Underpaying Auto Claims
GEICO General Insurance Co. must face a class action suit alleging that it has been underpaying benefits to its insureds injured in automobile accidents.
Strategies For A Shrinking Auto Insurance Market
The increasing popularity of electric vehicles (EVs), autonomous vehicles (AVs) and shared-mobility platforms will shrink the overall personal lines market 31 percent by ...
‘Telematics Is a Tool’: Root CEO Details Changed Strategy for 2023; UBI Basics
As InsurTech Root focuses its attention on signing up partners for embedded insurance relationships, telematics is taking a back seat to other pricing factors. But the company launched as a ...
Hyundai, Kia to Offer Software Upgrade to 8.3 Million U.S. Vehicles to Prevent Thefts
Hyundai Motor and Kia Corp. will offer a software upgrade to 8.3 million U.S. vehicles in response to increasing thefts targeting vehicles without push-button ignitions and ...
Auto Insurance Shopping – and Switching – Increases
Drivers are not only shopping around for auto insurance more than ever, they are switching carriers. According to a quarterly report from J.D. Power, in collaboration with TransUnion, the quote rate ...
Reflections on Auto Insurance: CM’s Top 10 News Stories of 2022
The list of top news stories for 2022 leaves little doubt about what our readers cared most about in the last 12 months. Auto insurance is a focus of 8 of the 10 most-viewed news stories published by ...
Progressive Reports Favorable Ian Development
Insurer Progressive reduced its estimate of gross loss and loss adjustment expenses for vehicle and property claims related to Hurricane Ian by $400 million, pushing the total down to $1.6 billion. ...
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 ...