auto insurance News

State Farm Announces Auto Insurance Rate Cut for Louisiana Customers

Louisiana’s largest auto insurer will cut its rates starting in April by an average of 3.2 percent for its roughly 1 million Louisiana policyholders. Insurance Commissioner Jim Donelon announced the rate decrease for State Farm on Thursday. It’s the company’s …

Extreme Market Changes Expected From Autonomous Cars

Though it’s estimated that by 2025 auto insurance premiums will drop by $25 billion as a result of the adoption of driverless cars, the insurance market is expected to recover through new lines of coverage, according to a report by …

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 …