LexisNexis: Auto Claim Severity Up 35% over Pre-Pandemic Rates May 11, 2023 By Jim Sams Claim severity for both bodily injury and property damage increased by 35% since 2019, while collision claim severity has jumped...
CCC: Surge in Gas Prices Won’t Curb Rising Auto Claims Costs August 2, 2022 By Claims Journal staff Elevated prices for replacement parts and a shortage of technicians are among the factors that will likely offset any decrease...
APCIA: Inflation Outpacing Premium Increases for Auto and Homeowners Lines March 7, 2022 By Jim Sams US Insurers — already hammered by extraordinary losses caused by natural disasters — are also failing to raise premiums at...
Historic Inflation Driving Up Loss Costs for Auto, Property Insurers February 14, 2022 By Jim Sams The two possessions that most concern insurers — homes and motor vehicles — happen to be the largest contributors to...
ADAS Reduces Loss Costs For Auto Insurers Despite Increased Repair Costs, LexisNexis Says November 15, 2021 By Jim Sams Advanced driver assistance systems result in fewer claims and reduce insurers loss costs by up to 23%, according to a...
How Parametric Cover Complements Traditional Insurance, Streamlines Claims January 27, 2020 By Daniel Brettler and Timothy Gosnear Although parametric solutions have been generally available since the late 1990s, they have more recently found their way into corporate...
Colorado DOI Approves Nearly 13% Reduction in Workers’ Comp Loss Costs November 1, 2017 Colorado businesses will see a large reduction in “loss costs” associated with workers’ compensation premiums in 2018, according to the...
Missouri Workers’ Comp Costs Could Fall September 11, 2014 Missouri businesses could see a decline in their workers’ compensation insurance premiums next year. The state insurance department says a...
Workers’ Compensation Costs Continue to Drop in West Virginia August 8, 2011 By Michael Adams West Virginia employers would continue to benefit from lower workers’ compensation rates if the state agrees with an industry filing...