News

Severe events, inflation and supply chain-related concerns coupled with the strain on digital tools has led to increased dissatisfaction among homeowner clients.

State Farm’s record underwriting loss was due to rapidly increasing claims severity and significant additions to prior accident year incurred claims.

The social media trend led to a wave of vehicle thefts and forced two prominent insurance carriers to announce that they will be limiting applications for coverage.

As 40% of consumers saw their rates increase, carrier ad spending has decreased and telematics adoption has stabilized after an initial surge, according to a J.D. Power report.

The Missouri Supreme Court ruled that, because the insurer was not given the opportunity to intervene in the case before judgement was entered, the earlier court ruling should be vacated.

With inflation peaking at its highest level in 40 years, auto loss ratios are at their second highest in over 20 years.

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.

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.

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.

Auto insurance switching is down 3.2% in the first quarter 2022, while quoting is down 11.1% for the same period, according to J.D. Power.