auto insurance News

Subrogating Against Suicide

Your insured’s eighteen-wheeler is struck head-on by another vehicle travelling at a high rate of speed, resulting in significant medical expenses to your insured driver and a passenger, as well as considerable property damage to your insured’s vehicle. The tortfeasor …

California Regulator Opens Probe of Wells Fargo Insurance Abuses

Wells Fargo & Co.’s admission that it charged customers for auto policies they didn’t request has prompted an investigation by California’s insurance regulator. “The department will investigate fully to determine the extent to which California consumers were affected by improper …

Another Scandal for Wells Fargo, This Time for Selling Auto Insurance

Scandal-plagued Wells Fargo is back in hot water for signing customers up for products that they didn’t need or want. This time it’s auto insurance, and the bank says it may have cost about 20,000 people their cars. San Francisco-based …

Auto Insurance News: N.C. Rate Hike, Delaware House Approves Reform

North Carolina Deal Clears Way for Average 2% Auto Insurance Rate Hike North Carolina’s insurance regulator says he’s reached a deal with auto insurers for a premium increase of just over 2 percent instead of the nearly 14 percent average …

Self-Driving Cars to Add $81B in New Auto Insurance Premiums by 2025

Insurance coverage for autonomous vehicles will bring US$81 billion in new premiums to the U.S. auto insurance industry over the next eight years, driven by risks related to cybersecurity, software and hardware and by the need for additional public infrastructure …

Michigan’s Auto Insurance Fee for Catastrophic Injuries Rises to $170

The annual auto insurance fee Michigan drivers pay toward caring for people catastrophically injured in crashes is rising to $170, a $10 increase. The Michigan Catastrophic Claims Association announced Monday the new per-car assessment for the 12 months starting July …

Arizona Senate Votes to Raise Minimum Auto Liability Insurance

The Arizona Senate approved a bill Thursday to raise the minimum amount of liability coverage drivers are required to carry on auto insurance policies, a proposal backers say is needed to protect accident victims from loss. The bill by Sen. …

Auto Insurers Need to Focus on Increasing EMG Abuse, Fraud

Electromyography (EMG), a diagnostic procedure used to assess muscle and nerve damage, has become a major area of concern and a potential gateway for medical fraud and abuse, particularly in auto insurance. Dr. John E. Robinton, medical director of Neurodiagnostics …

Low Penalties Let People Off the Hook for Driving Uninsured

Dan McMullen is an insurance agent in Ferguson, Mo. His Solo Insurance office is on West Florissant Avenue, the epicenter of the trouble two years ago. The building next to his office burned into ruins. There aren’t many millionaires among …

Study Finds 50% of Drivers Embrace UBI Option

A new LexisNexis Risk Solutions study on usage-based insurance (UBI) found that a surprising number of U.S. drivers (50 percent) report enrolling in pay-as-you-drive policies when offered, yet few are given the choice, revealing a significant market-building opportunity for auto …