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Claims Management

Study: More Drivers Canceling or Reducing Insurance Coverage

WASHINGTON - In response to the current economy, nearly 20 percent of drivers on the road have reduced or canceled their car insurance coverage for immediate financial relief, according to a newly released survey from the National Association of Insurance Commissioners (NAIC).

Allstate Agrees to $10 Million Settlement

NEW YORK - Allstate has agreed to pay New York $1.2 million as part of a $10 million regulatory settlement, New York State Insurance Superintendent James J. Wrynn announced.

IIHS Releases Car Insurance Loss Data

ARLINGTON, VA - The Insurance Institute for Highway Safety (IIHS) has released data showing insurance losses for hundreds of passenger vehicles. The vehicles are grouped by body style and size under six types of insurance coverage: collision, property damage liability, comprehensive, personal injury protection, medical payment and bodily injury.

Insurance Researchers: Cadillac Escalade Tops Theft Loss List

ARLINGTON, VA - The rate at which people file insurance claims for theft is highest for versions of the 2007-2009 Cadillac Escalade, a luxury SUV. The Escalade is followed by the Ford F-250 crew pickup, Infiniti G37 luxury car, and Dodge Charger with a HEMI engine.

OEM Parts Prices Increase as Parts Availability Decreases

Slow retail sales have prompted not only closure of assembly plants, but also component factories, which is delaying parts deliveries. OEMs are also hiking parts prices, with some experiencing double-digit percentage increases. The dramatic slowdown of automotive sales has also created a "financial crunch" for many parts manufacturers, with many second-tier suppliers going out of business. This portends a difficult environment for fleets to manage accident repair costs.

Personalities Shine Away from Work

New and well-known industry figures reveal their personal sides as they discuss favorite hobbies, share their dreams, and offer a few words of wisdom.