miles driven News

Consumer Groups Want Premium Offsets as Virus Shutdowns Reduce Miles Driven

The shutdown of workplaces and gathering spots around the country to slow the spread of coronavirus may lead to a sharp reduction in auto insurance claims. Two consumer groups want to make sure that insurance carriers don’t enjoy any windfall. …

U.S. Motorists Drove Record 3.2 Trillion Miles in 2016

Motorists drove a record 3.22 trillion miles (5.2 trillion km) on U.S. roads last year, a 2.8 percent rise from 2015 and the fifth consecutive year of year-over-year increases, according to the U.S. Department of Transportation. Motorists logged 263.6 billion …

Auto Losses to Continue to Dampen Insurer Profits

The property/casualty insurance industry has made money on its personal lines underwriting since 2013 but that is likely to change in 2015. At the same time, commercial auto insurance should still make an underwriting profit in 2015 although it is …

Allstate Sees Auto Claims Rise

Allstate Corp. reported net income fell to $355 million in the second quarter, down from $645 million, as the insurer coped with rising auto claims costs. The Allstate brand suffered an underwriting loss for the quarter. The company stressed that …

Allstate’s UBI Program Reports Almost 1B Miles Driven

Allstate reports that drivers that are signed up for its usage-based insurance program, Drivewise will register more than one billion miles driven this month. Allstate also said that Drivewise is launching in Kentucky and Montana this week, making the usage-based …