Anybody who’s seen a Carfax commercial may suspect that a vehicle that’s been involved in a crash is worth less even after it is repaired. Massachusetts auto insurers are now required to compensate third-party claimants for those losses. The state’s …
Auto insurance claims costs rebounded this year after plummeting during the COVID-19 pandemic, but the number of collision claims remain 15% below 2019 levels, according to a report by CCC Intelligent Solutions. While highway traffic levels — and hence auto …
Auto loss costs climbed rapidly this year as vehicle traffic returned nearly to pre-pandemic levels and motorists adopted more risky behaviors, the American Property Casualty Insurance Association said in a white paper released on Monday. An increase in claim frequency …
The evening before Hurricane Zeta made landfall, Vicki Dean and her husband, Kenny, were curious to see if the distant storm was already churning up Biloxi’s Back Bay. Like they did many evenings when Vicki wasn’t waitressing at a Gulfport …
Customer use of digital interactions in the claims process has increased 18% since 2017 and the vast majority of policyholders are pleased with the process, J.D. Power said in its first U.S. Claims Digital Experience Study. “Personal interaction continues to …
With insured losses projected to reach $4.2 billion, Hurricane Isaias’ rampage from the Caribbean to Canada was the first significant event from a claims perspective since Hurricane Irma struck Florida in 2017, a claims executive for Crawford & Co. said …
Social distancing has been a boon for the use of photo estimates after auto collisions. CCC Information Services said that the share of claims processed through its Quick Estimate product increased 125 percent from January to April. “Based on our …
Another state insurance commissioner is warning auto insurers about the overuse of photo estimates when making settlement offers. Vermont Insurance Commissioner Michael Pieciak issued a bulletin on Thursday to “clarify the division’s position regarding the use of visual adjusting.” “While …
Virtual insurance claims services company Snapsheet has closed on $29 million in Series E funding. The company said it will use the funds to expand beyond auto into all lines of property/casualty insurance and expand globally as well as enhance …
FAIRBANKS, Alaska– The state has dismissed criminal charges filed last summer against the coordinator of Village Public Safety Officers for interior Alaska. The Fairbanks Daily News-Miner reports 41-year-old Jody Juneby-Potts was charged in July with criminal mischief after using a …