For those who work from home, carpool frequently or use public transit more than they drive, Nationwide is launching SmartMilesSM, a new auto insurance solution for low-mileage drivers. Committed to the evolution of its telematics journey which began in 2011 with SmartRide®, SmartMiles allows Nationwide members to pay for the miles they drive, providing more… Continue reading Nationwide Launches Custom Auto Insurance to Save Drivers Money
Tag: auto insurance
Vehicle Deaths Estimated at 40,000 for Third Straight Year
For the first time since the Great Recession, the U.S. has experienced three straight years of at least 40,000 roadway deaths, according to preliminary estimates released February 13 by the National Safety Council. In 2018, an estimated 40,000 people lost their lives to car crashes – a 1% decline from 2017 (40,231 deaths) and 2016… Continue reading Vehicle Deaths Estimated at 40,000 for Third Straight Year
Allstate Extends Consumer Protection Offerings with iCracked Acquisition
The Allstate Corporation has acquired iCracked, a provider of on-site, on-demand repair services for smartphones and tablets in North America. The privately held San Francisco-based company will join SquareTrade, an Allstate company that offers consumer protection plans and tech support. ICracked operates in 60-plus metropolitan areas in the U.S. and Canada. “Today’s consumers rely on… Continue reading Allstate Extends Consumer Protection Offerings with iCracked Acquisition
Personal Lines Rate Changes Driven by Improved Margins and Desire for Growth: KBW
Much-improved margins and the accompanying, and predictably widespread, desire for top-line growth should translate into steadily-declining personal lines rate changes, according to Keefe, Bruyette & Woods (KBW). KBW expects most commercial lines’ rates to rise in response to weak underwriting profits, although workers compensation rates should keep falling, probably more slowly than in 2018. Analysts… Continue reading Personal Lines Rate Changes Driven by Improved Margins and Desire for Growth: KBW
Cell Phone Interactions Up 57 Percent over Prior Survey: IIHS
Manipulating a cellphone was a contributing factor in more than 800 crash deaths on U.S. roads during 2017 amid a marked increase in the percentage of drivers observed interacting with cellphones, new IIHS research indicates. The estimated number of deaths, however, still represents a fraction of the overall crash death toll. Virginia drivers observed in… Continue reading Cell Phone Interactions Up 57 Percent over Prior Survey: IIHS
California Makes It Illegal to Charge More for Auto Insurance Based on Gender
California’s Insurance Commissioner Dave Jones issued a statement on Friday that as part of the Gender Non-Discrimination in Automobile Insurance Rating Regulation, insurers would no longer be allowed to use gender to calculate private auto insurance effective January 1, 2019. “My priority as Insurance Commissioner is to protect all California consumers, and these regulations ensure… Continue reading California Makes It Illegal to Charge More for Auto Insurance Based on Gender
Impaired-Driving Still A Primary Cause of Highway Deaths
With phones, watches and a growing number of other digital devices vying for drivers’ attention, it is no surprise that the danger of distracted driving has taken center stage in recent years. But impaired-driving is a serious issue that has not gone away. In fact, drivers and motorcyclists under the influence of drugs, alcohol or… Continue reading Impaired-Driving Still A Primary Cause of Highway Deaths
Best’s Market Segment Report: U.S. Nonstandard Auto Market Starts to Show Signs of Improvement
AM Best is seeing initial signs that the private passenger nonstandard automobile segment is beginning to improve after years of unfavorable results, including continued premium growth in 2017 and through mid-year 2018. A new Best’s Market Segment Report, “Early Signs of Improvement in Nonstandard Auto Market,” states that the combined ratio for the population of… Continue reading Best’s Market Segment Report: U.S. Nonstandard Auto Market Starts to Show Signs of Improvement
Assignment Of Benefits Abuse Is Driving Up Insurance Costs In Florida
Florida’s assignment of benefits (AOB) crisis continues to spread statewide and has cost consumers billions of dollars in unnecessary litigation and inflated claim costs, according to an Insurance Information Institute (I.I.I.) study released today. An AOB is a document signed by either an auto or homeowners policyholder which allows a third party, such as an… Continue reading Assignment Of Benefits Abuse Is Driving Up Insurance Costs In Florida
Wells Fargo Fights to Leave Customers Out of Auto Payout Plan
Wells Fargo & Co is fighting to shut some customers out of a sweeping plan to compensate around 600,000 drivers it pushed into car insurance they did not need, according to court documents and a source familiar with the effort. U.S. regulators fined Wells Fargo $1 billion in April over the insurance program and told… Continue reading Wells Fargo Fights to Leave Customers Out of Auto Payout Plan