AAA will not renew the auto and home insurance policies for some customers in Florida, joining a growing list of insurers dialing back their presence in the Sunshine State amid a growing risk of natural disasters.
Tag: auto insurance
Farmers Insurance Is Leaving Florida in Latest Blow to Homeowners
Farmers Insurance is the latest insurer to leave Florida, where homeowners are paying more than ever for insurance, despite the state’s attempt to shore up the wobbling market.
Liberty Mutual, Auto-Owners Lead Commercial Auto Premium Growth in Q1
U.S. commercial auto insurance premiums increased year over year in the first quarter of 2023, with Liberty Mutual Holding Co. Inc. and Auto-Owners Insurance Co. Inc. posting the biggest growth, according to an S&P Global Market Intelligence analysis.
State Farm Hit with Lawsuit Over Luxury Vehicle Repair Coverage
State Farm is facing a class action lawsuit for allegedly failing to foot the bill for the repair of high value luxury vehicles.
LexisNexis: Record High Shopping Activity Continues for Auto Insurance
New policy growth, or the rate at which consumers either switched or purchased new coverage, continues to be a big story, according to LexisNexis.
Report on Auto Insurance Trends Offers Key Insights to Drive Profitability
The annual LexisNexis® Risk Solutions Auto Insurance Trends Report explores how trends in U.S. consumer auto insurance shopping, driving violations, claims frequency and severity, vehicle safety features and more are impacting the auto insurance policy lifecycle from quote to underwriting to claims.
State Farm Gets Biggest Bump as California Approves More Auto Rate Hikes
State Farm Mutual Automobile Insurance Co. was the biggest beneficiary of California regulators approving more personal auto rate hikes in the first quarter.
Auto Insurance Shopping Reaches New Highs as Premiums Surge: J.D. Power Finds
There’s a sharper focus on saving money as large numbers of auto insurance customers shop for new policies and switch to new carriers, largely based on price.
2022 U.S. Traffic Deaths Down: NHTSA
The National Highway Traffic Safety Administration has released its latest projections for traffic fatalities in 2022, estimating that 42,795 people died in motor vehicle traffic crashes.
Autonomous Vehicles Could Reduce Accident Frequency, Boost Insurer Profitability: Moody’s
According to a new Moody’s report, autonomous vehicles will initially boost auto insurance profitability while ultimately decreasing demand for traditional coverage – but the property/casualty insurance industry has time to evolve.