auto insurance News

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 …

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 …