Auto Insurance Company News
Auto Insurance Company News
Insurance
Shop Owners: Insurers Could Take Non-Financial Steps to Improve Claims
Improving communication and streamlining processes could benefit everyone, repairers say.
Florida Man Arrested for Faking Car Vandalism in Insurance Scam
The man called police and said his SUV's windows were smashed and leather interior slashed at the shop where he'd left it for an oil change.
Number of Underinsured Motorists Nationwide Hit 15.7% in 2022
The amount of drivers who do not carry enough insurance to cover damages in accidents they cause rose 3.
North Carolina Body Shop Owner Charged with Insurance Fraud
The Gaston County man is accused of accepting insurance payments to use new parts on a repair, but not doing so.
Car Insurance, Repair Cost Increases Far Outpace Overall Rate
In its now-quarterly Crash Course Report, CCC experts touched on the sharp increase in costs for both insurance and repairs, which are connected.
GEICO Won’t Face Class-Action Suit in Illinois Overcharging Case
The lawsuit claimed the insurer overcharged policyholders during the early stages of the COVID-19 pandemic.
Missouri Duo Sentenced in $1.1M Auto Insurance Fraud Scheme
Sixteen people have been sentenced in the case so far.
State Farm Sees Premium Growth Amid Underwriting Losses in 2023
The insurer reported an earned premium of $87.6 billion and a combined underwriting loss of $14.1 billion across its P&C group of companies.
UVeye, Acadia Insurance Partner to Transform Auto Claims with AI
UVeye's computer vision technology will streamline Acadia’s claims processes.
Body Shop-Based Insurance Fraud Scheme Busted in Massachusetts
The scheme involved submitting false insurance claims to manipulating the system and illicitly gain more than $1 million from multiple carriers.
Q4 2023 Shows Record Surge in Auto Insurance Shopping
Both auto insurance shopping and the acquisition of new policies registered as "Hot" on the LexisNexis Insurance Demand Meter.
USAA Faces Lawsuits Over Denied Medical Claims
The suit focuses on USAA's use of a third-party contractor to assess which medical claims should be paid.
Regional Auto Insurance Carriers Outshine National Giants in Insurer Report Card
Six of the nation's largest auto insurance companies received an overall grade of "C-" or lower.
Kia Using Telematics to Offer Personalized Driving Scores
Connected vehicle data will allow eligible drivers to access more personalized insurance premiums.
State Farm to Pay $2M for Montana Claim Denials
An investigation found State Farm denied payments to auto accident victims under circumstances where compensation was warranted.
Consumer Watchdog Saves Californians $5.5 Billion in Insurance Overcharges
The nonprofit was founded by the author of Prop 103, a state law that subjects insurance companies to public scrutiny.
Illinois Car Insurance Rates Soar Over $1.25 Billion in 2023
Legislation has been introduced to empower the Illinois Department of Insurance to oversee and potentially modify excessive car insurance rate hikes.
Farmers Leads Insurers’ Rate Hikes with 17.6% Increase
All 10 of the top auto insurers in the U.S. imposed double-digit increases throughout 2023.
Ford Pro Expands Insurance to Indiana and Wisconsin
The insurance is now available to small businesses in five states.
Record-Breaking Auto Insurance Hikes Expected in 2024
The rising costs of car repairs or replacements, coupled with an increase in severe weather incidents and thefts, are driving the rate hikes.
Allstate Sues Florida Pain Clinic for Millions in Alleged Fraud
The clinic signed an agreement in November to stop billing for fraudulent charges, but Allstate says that was quickly breached.
California Cracks Down on Auto Insurance Issues
The California Department of Insurance has been inundated with consumer grievances about various obstructive practices by auto insurers.
U.S. Auto Insurers Struggle Amid Rising Claims, Costs
Loss ratios and claims severity soared in the first half of 2023, surpassing 2022's already high benchmarks.
Staged Vehicle Accidents Top Fraud Trend in South Carolina
The NIBC found the state has significantly higher questionable vehicle-related insurance claims compared to other states with similar populations.
Last Chance for Collision Repairers to Grade Insurers’ Performance
Shops have until Dec. 15 to grade how well carriers' claims practices help ensure quality repairs and customer service.
State Farm Leads in Auto Insurance Affordability Across 29 States
The largest auto insurer is also the most affordable in many cases, but there are more competitive options for good drivers, military and other demographics.
U.S. Auto Insurance Shopping Growth Declines in Q3 2023
A shift in customer demographics is partly attributed to household consolidation, where parents are adding their adult children to their policies or vice versa.
Tesla-Certified Shop Suing 2 Insurers; Ex-Employee Files Lawsuit Against Safelite
Tesla-Certified Shop Suing 2 Insurers; Ex-Employee Files Lawsuit Against Safelite One Maryland-based shop has sued State Farm and Allstate alleging customer steering, while Safelite is being sued for insurance fraud.
Collision Repairers Asked for Input on Annual Insurer Report Card
Auto body shops can grade auto insurance companies in their state on how well their claims practices help ensure quality repairs.
CA-Based Insurance Company to Pay $1.1M to Settle Delayed Claims Investigations
Alliance United Insurance faced a civil suit in Los Angeles and Ventura counties, alleging it frequently failed to respond promptly to claims.
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