auto insurance News

Consumers Increasingly Favor Digital Methods to Complete Key Insurance Tasks

A new survey from the Insurance Research Council (IRC) finds that while phone calls remain the most common method consumers use to manage their auto insurance, many consumers are eager to use digital methods to accomplish the same tasks. Sixty-nine …

J.D. Power: Auto Insurance Customer Satisfaction Reaches Record High

Improvements in digital interactions, billings/payment, policy offerings drive increase in customer auto insurance satisfaction, according to the J.D. Power 2018 U.S. Auto Insurance Study. The study found that insurers are beginning to get the customer interaction formula right, offering a …

Impact of Driverless Cars on Insurance Not as Dire as Predicted

It turns out robots need insurance too. As driverless vehicles reduce car ownership in coming years, insurers may not face the Armageddon that had been predicted, new research shows. “We do not expect revenues for auto insurance companies to experience …

Connected Car Data Benefits Auto Insurance Lifecycle

Data derived from connected cars on the road today can improve auto insurance from both the insurer and insured perspective, according to Dawn Mortimer, AVP – IoT/Telematics Product Management at Verisk Insurance Solutions. The data collected by connected cars can …

Commentary: Billionaire Son Bets on World Without Car Crashes

It has almost become a refrain: just what is Masayoshi Son up to? After plowing money into companies as diverse as Uber Technologies Inc., office rental specialist WeWork Cos Inc. and fintech lender SoFi, the billionaire chief of Softbank Group …

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 …