Driving Trends, Inflation Accelerates Auto Loss Ratios
With inflation peaking at its highest level in 40 years, auto loss ratios are at their second highest in over 20 years.
Auto
Rising Auto Insurance Premiums Affect Bundle Satisfaction
The study by J.D. Power shows that the increase in auto premiums is dragging down the overall satisfaction of policyholders and hurting retention rates of bundles.
Is Real Property Included in the Care, Custody or Control BAP Exclusion?
An insured with a business auto policy rents a warehouse he’s not contractually obligated to insure. While backing out, he hit the building, and the carrier is denying coverage.
Lia-bee-lity: Is Crash Damage Caused by Insect Stinging Driver Excluded from PAP?
After an insured was stung or bit by an insect, blacked out and crashed into a tree, the carrier says there is no coverage as the insured is not legally liable for the loss.
AN Radio: For the Love of Service with Tiago Prado
On this episode of Agency Nation Radio, Tiago Prado, co-founder and chief visionary officer of BRZ Insurance, discusses how his agency is combining technology and a multiligual team to cater to the changing consumer demographics in the U.S.
Collision Repair Delays: Additional Auto Rental Reimbursement
After an auto accident in which one vehicle was 100% at fault, the car repairs are delayed. Should the negligent driver’s policy pay for rental reimbursement beyond the 30 days listed in the policy?
Car Crashes into Commercial Building: ACV or Replacement Cost?
Should the carrier pay the third-party claimant actual cash value (ACV) costs based on case law even if there’s nothing mentioned in the policy language?
2022 Auto Claimants Are Waiting 18 Days for Collision Repairs
Auto claimants’ wait for collision repairs jumped 4.5 days in the second quarter of 2022 from the second quarter of 2021, according to a report from Enterprise Rent-a-Car.
3 Approaches to Offering Usage-Based Auto Insurance
UBI has a growing foothold in personal auto insurance with many insurers offering UBI programs, such as mileage-based and behavioral-based programs.
Court Upholds $5.2 Million Settlement to Passenger Who Caught STD in Car
Geico is still contesting whether the claim is covered in federal court and the outcome will determine whether the company has to pay the settlement.
