The tornadoes and storms that swept through Southeast Tennessee on Easter night toppled or damaged more than 6,200 homes and commercial buildings and left more than 1,300 cars in need of repair, according to initial insurance claims filed in the first week after the April 12-13 storms. More than 8,200 insurance claims have been filed… Continue reading Insurers Receive More than 8,200 Property Damage Claims after Tennessee Storms
Tag: auto insurance
Auto Insurers Issuing $10.5B in Coronavirus Refunds
With highways and roads abandoned as motorists stay home during the COVID-19 health crisis, the nation’s biggest auto insurers are offering policyholders $10.5 billion in credits and reduced premiums, according to the Insurance Information Institute. Fewer cars on the road typically means fewer accident claims. According to Arity, a data and analytics firm owned by… Continue reading Auto Insurers Issuing $10.5B in Coronavirus Refunds
Geico to Return $2.5 Billion in Credits to Auto & Motorcycle Customers
Warren Buffett’s Geico plans to offer insurance-policy credits to its auto customers as driving declines because of the widespread coronavirus-related shutdowns. Geico, owned by Buffett’s Berkshire Hathaway Inc., will provide a 15% credit to its auto and motorcycle customers when their policies come up for renewal between April 8 and Oct. 7, the insurer said… Continue reading Geico to Return $2.5 Billion in Credits to Auto & Motorcycle Customers
Auto Insurers Give Millions in Coronavirus Refunds
One of the largest car-insurance companies in the country, Allstate Corp., and a smaller Midwestern auto insurer are refunding hundreds of millions of dollars to their policyholders, citing a dramatic drop in accident claims from Americans hunkered down in their homes. Allstate said it would dispatch more than $600 million in shelter-in-place payback checks, while… Continue reading Auto Insurers Give Millions in Coronavirus Refunds
Consumer Groups Call for Lower Auto Rates as Driving Lessens Amid Stay-At-Home Order
Millions of people across the country are at home as the nation tries to flatten the curve. While the roads aren’t empty, traffic has decreased significantly. Nationally, personal travel dropped by 30% from Feb. 28, 2020, to March 20, 2020, according to a report by Inrix, a company that uses car and phone navigation systems… Continue reading Consumer Groups Call for Lower Auto Rates as Driving Lessens Amid Stay-At-Home Order
Nationwide Teams up with Toyota to Offer Insurance Featuring Telematics Solution
Whether they’re driving a new Toyota off the lot or already have one in the driveway, car owners behind the wheel of a Toyota connected vehicle now have an easier way to get insurance. Nationwide and Toyota Insurance Management Solutions (TIMS) have teamed up to launch TIMS BrightDrive™, a Toyota insurance experience that simplifies the… Continue reading Nationwide Teams up with Toyota to Offer Insurance Featuring Telematics Solution
Warren Buffett Protege Todd Combs Named Geico CEO
Geico, the auto insurer owned by Berkshire Hathaway, on Monday named Todd Combs as its chief executive officer, expanding the role of one of Warren Buffett’s portfolio managers, who is widely seen as a potential Buffett successor. Combs, 48, will take over on Jan. 1, 2020, replacing Bill Roberts, a 35-year Geico veteran who became… Continue reading Warren Buffett Protege Todd Combs Named Geico CEO
APCIA Voices Opposition to California’s Proposed Changes that Could Eliminate Affinity Group Discount Programs
The American Property Casualty Insurance Association (APCIA) on Tuesday testified in opposition to draft regulations that could eliminate many affinity group insurance discount programs during a pre-notice workshop held by the California Department of Insurance (CDI) in Los Angeles. “We share CDI’s goal of helping low-income Californians have access to lower auto insurance rates, but… Continue reading APCIA Voices Opposition to California’s Proposed Changes that Could Eliminate Affinity Group Discount Programs
Study Finds Long-Term Heavy Cannabis Use May Impair Driving
Long-term, heavy cannabis use might be making adults bad drivers. Especially, according to a new study in Drug and Alcohol Dependence, if drivers started consuming cannabis in their early teens. Researchers studying the impacts of recreational cannabis consumption on cognitive function say bad driving behaviors like speeding, ignoring traffic signals, and getting into accidents could… Continue reading Study Finds Long-Term Heavy Cannabis Use May Impair Driving
Insurify Raises $23M to Expand Marketing Efforts, Coverage Lines
Cambridge-based Insurify, a marketplace that lets users compare and shop for insurance online, raised $23 million in Series A financing. The round was led by MTech Capital and Viola FinTech, with participation from Hearst Ventures and two prominent insurance companies: Nationwide, and MassMutual Ventures. The company also offers products from leading insurance companies including Nationwide,… Continue reading Insurify Raises $23M to Expand Marketing Efforts, Coverage Lines