The Madison parent company of American Family Insurance said Tuesday it is buying Ameriprise Auto & Home, a De Pere-based property-and-casualty insurer, for about $1 billion. American Family Insurance Mutual Holding Co. said the acquisition adds customers, diversifies risk and gets the company deeper into the California market. Ameriprise Auto & Home is a business… Continue reading American Family Acquiring Ameriprise Auto & Home for About $1 Billion
Tag: auto insurance
Thefts of Vehicles with Keys Left Inside Continue to Rise
On every single day from January 1, 2016, through December 31, 2018, an average of 209 vehicles were stolen across the U.S. because drivers left their keys or fobs in their vehicles making them attractive targets for thieves. The report from the National Insurance Crime Bureau (NICB) shows that during this three-year period, a total… Continue reading Thefts of Vehicles with Keys Left Inside Continue to Rise
Nationwide Partners with Slice Labs to Develop On-Demand Auto Insurance for Rideshare Drivers
As the number of rideshare drivers continues to increase in the U.S., many face a complex gauntlet when seeking auto insurance solutions to meet their needs. Nationwide has taken an innovative step to develop on-demand rideshare insurance solutions for drivers who work for transportation network companies (TNC), such as Uber and Lyft, through its new… Continue reading Nationwide Partners with Slice Labs to Develop On-Demand Auto Insurance for Rideshare Drivers
Safer Driving Becomes the Latest Culprit Behind Low U.S. Inflation
The latest culprit for cooling U.S. inflation: safer driving. A measure of underlying price pressures watched closely by policy makers continued to moderate in February, missing forecasts, according to data published Tuesday by the Labor Department. The gauge of consumer prices excluding food and energy rose to a nearly 10-year high in July. But since… Continue reading Safer Driving Becomes the Latest Culprit Behind Low U.S. Inflation
State Farm Returns to Profit in 2018
In 2018, State Farm experienced a property-casualty underwriting gain, as well as increases in total revenue, net income and net worth. As the number one Auto and Homeowners insurer in the U.S., State Farm remains committed to serving its policyholders. The State Farm property-casualty (P-C) group of companies reported a combined underwriting gain of $1.7… Continue reading State Farm Returns to Profit in 2018
Auto-Owners Insurance Acquires California Insurance Group
Auto-Owners has entered into an agreement to acquire Capital Insurance Group of Monterey, California, according to a Tuesday news release. “Adding Capital Insurance Group and its affiliates to the Auto-Owners family of companies expands our operating footprint into four additional states, providing access to more families and businesses to insure and giving us even greater… Continue reading Auto-Owners Insurance Acquires California Insurance Group
Autonomous Vehicles Might Kill Auto Insurance as We Know It
Dan Peate, a venture capitalist and entrepreneur in Southern California, was thinking of buying a Tesla Model X a few years ago—until he called his insurance company and found out how much his premiums would rise. “They quoted me $10,000 a year,” Peate recalled. For all the concern over accidents involving driverless cars, including Tesla’s… Continue reading Autonomous Vehicles Might Kill Auto Insurance as We Know It
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
Travelers Institute to Tackle Distracted Driving, Cybersecurity, Severe Weather and More in 2019
The Travelers Institute, the public policy division of The Travelers Companies, Inc. today announced its series of 2019 educational forums focused on combating distracted driving, managing cyber risks, insuring autonomous vehicles and preparing for severe weather events. Programs are free and open to the public. “We saw great engagement throughout our symposia series in 2018… Continue reading Travelers Institute to Tackle Distracted Driving, Cybersecurity, Severe Weather and More in 2019