auto insurance News
Auto Insurers Lead 2020 U.S. Property/Casualty Impairments: AM Best
Seven insurance company impairments were identified in the U.S. property/casualty industry in 2020, with five of the seven involving auto insurers, according to an A.M. Best special report. Last ...
American Family Joins Clearcover’s $200M Funding Round; Digital Auto Insurer Plans Rapid Expansion
Clearcover has secured a massive $200 million round of venture capital financing, and the digital auto insurance startup plans to use the monetary infusion to fuel product development and expansion, ...
Insurance Is on GM’s Growing List of Side Ventures
Pam Fletcher wants to change the way General Motors Co makes money. The veteran GM engineer's Global Innovation team is looking for new enterprises to expand the automaker's sources of revenue well ...
Connected Car Tech Creating Anxiety Over Cyber Attack Risks: Munich Re
Consumers are increasingly worried about cyber attack vulnerabilities with connected and automated vehicles, according to a new Munich Re/HSB survey. Approximately 37 percent of consumers responding ...
GEICO Suit Claiming It Overcharged on Auto Insurance During Pandemic Moves Forward
The auto insurer GEICO Corp, a unit of Warren Buffett's Berkshire Hathaway Inc, must face a proposed class action claiming it overcharged policyholders as the coronavirus pandemic led to less driving ...
InsurTech Loop Announces Seed Funding, Targets Fair Auto Insurance
Loop, a B-Corp MGA focused on using AI, big data and telematics to build more inclusive auto insurance, announced the close of a $3.25 million seed round on Wednesday. Freestyle.VC led the funding ...
Hospital Charges Rise Even as Auto Casualty Claimants Avoid Emergency Rooms
Auto casualty claimants are avoiding hospital emergency rooms during the COVID-19 pandemic but are generating increased hospital charges anyway, according to a new report by Mitchell, a San ...
Root Raises $724.4M, an IPO Victory for the Auto Insurance Startup
Automobile insurance startup Root Inc sold shares in its initial public offering (IPO) on Tuesday at $27 apiece, above its target range, to raise $724.4 million, the company said. Root, which has ...