Westfield introduced MissionSafe®, a new safe driving rewards program that gives eligible personal auto insurance customers feedback on their driving.
Tag: auto insurance
Insurance Companies Are Refusing to Cover Certain Hyundai and Kia Models
Two of America’s largest auto insurers, are refusing to write policies in certain cities for some older Hyundai and Kia models that have been deemed too easy to steal.
Auto Insurance Companies’ Rising Rates Are No Accident
Auto insurers are scrambling to keep up with rising claim costs.
Car Insurance Companies Leaving California Market
Major auto insurers are withdrawing from the California market, claiming that our drivers are simply too expensive to insure.
AM Best Maintains Negative Outlook on Personal Lines Insurance Segment
AM Best maintains its negative market segment outlook for the U.S. personal lines insurance segment for 2023.
National Personal Auto and Personal Property Premium Rates Decreased in All Canadian Provinces YOY
In Q3 2022, quoted premiums for both Personal Auto lines and Personal Property lines in Canada decreased year over year.
Study: Auto Insurance Prices Up 17% Since 2020
Drivers in the U.S. have been paying about 17% more for car insurance since 2020.
Geico Faces California Class Action Suit for Overcharging for Auto Insurance
A federal judge ruled that a lawsuit against Geico Corp for overcharging for auto insurance during the COVID-19 pandemic may move forward as a class action.
APCIA Publishes Paper on Auto Insurers’ Challenges with Inflation
A new paper from APCIA shows inflation having a significant impact on auto insurance loss ratios, which have risen to their second-highest level in more than 20 years, reaching 78.4 percent in the second quarter of 2022. In the meantime, driving behaviors continue to deteriorate.
Inflation Pressures, Mounting Accidents, Flooding From Ian Hit Allstate, Other Insurers
The nation’s largest auto insurers, already struggling with high inflation and mounting accidents, are now facing losses from vehicles flooded by Hurricane Ian. Allstate Corp. announced Wednesday that it would take a $875 million charge to boost its claims reserves in its upcoming third-quarter earnings, primarily related to its auto-insurance business, as a result of… Continue reading Inflation Pressures, Mounting Accidents, Flooding From Ian Hit Allstate, Other Insurers