auto insurance News

U.S. Awards $1B for Road Safety Projects as Traffic Deaths Remain High

The U.S. Transportation Department said on Thursday it is awarding $1 billion for a series of projects aimed at reducing traffic crashes, as road deaths remain sharply higher than pre-pandemic levels. The department separately on Thursday estimated that 18,720 people …

U.S. Agency Reports 28th Takata Air Bag Inflator Death Since 2009

The National Highway Traffic Safety Administration said on Tuesday it had confirmed the 28th death in the United States stemming from a defective Takata air bag inflator since 2009. The issue has prompted the largest-ever recall in U.S. history. Over …

Sedgwick: U.S. Product Recalls Dropped in Q2 in 5 Key Industries

Product recalls in the U.S. decreased across the automotive, consumer product, food and drink, medical device and pharmaceutical industries in the second quarter, a new report shows. A report from Sedgwick shows the 788 recalls across those industries represent a …

GM Must Face Big Class Action Over Faulty Transmissions

General Motors was ordered by a federal appeals court to face a class action claiming it violated laws of 26 U.S. states by knowingly selling several hundred thousand cars, trucks and SUVs with faulty transmissions. The 6th U.S. Circuit Court …

Americans Shop Around for Insurance More Than Ever as Costs Soar

Americans are seeking to change their insurance coverage more frequently than in the past, after a surge in premiums that’s squeezed household budgets, a new industry report shows. For car insurance, so-called policy shopping rates — essentially the share of …

Report: Auto Insurance Shopping Continued to Rise, but Rates Stabilized in Q2

Auto insurance shopping volume set a new record for the second consecutive quarter, according to a new report that shows the number of U.S. consumers shopping for auto insurance was up 7% compared to the same period a year ago. …

Fitch Ratings: U.S. Auto Insurer Strong Performance Recovery to Continue Through 2025

More favorable mid-year 2024 results of U.S. personal auto insurers are likely to continue through the end of 2024 and into 2025 due to material price increases and a moderation of claims severity trends “vastly” improving the segment’s profit footing, …

South Korea Urges Automakers to Disclose EV Battery Brands After Fires

South Korea will urge automakers operating in the country to identify batteries used in their electric vehicles, the government said on Tuesday, as authorities seek to calm public safety concerns after a series of fires involving EVs. The government said …

Report: Auto Insurance up 15% Since Beginning of the Year

Car insurance premiums have gone up by 15% since the beginning of the year, and they are projected to be up 22% by the end of the year, a new report shows. The annual average full-coverage car premium price is …

Software Upgrades for Hyundai, Kia Help Cut Theft Rates, HLDI Research Finds

Anti-theft software upgrades provided for Hyundai and Kia vehicles regularly targeted by thieves has cut theft rates by more than half, according to new research from the Highway Loss Data Institute. Theft rates of the affected automobiles soared after thieves …