In 2023, State Farm reported a significant increase in underwriting losses, driven by property line challenges despite improvements in auto insurance results.
Recent Illinois legislation could inadvertently raise auto insurance premiums by limiting risk-based pricing, counteracting intentions to protect consumers.
A California court allows nearly 6,000 Black employees to sue Tesla collectively for failing to address racial discrimination and harassment at its Fremont factory.
With rising concerns over data privacy, the unauthorized use of personal information in auto insurance claims and repairs presents significant risks and implications for millions.
As Tesla aims to innovate the insurance industry with personalized coverage, it faces hurdles like data privacy, regulatory compliance, and competition.
A recent analysis highlights the significant role urban environments play in attributing fault in pedestrian accidents, pointing to the need for insurance industry adaptation.
Following a non-injury crash, Allstate initially attributes 20% fault to a green-light driver, later revising their decision to full coverage after media inquiry.
Over the last two years, U.S. farm bureaus in the property/casualty sector have enjoyed a 13% increase in premiums, driven by key lines of business despite facing underwriting and market share challenges.
Despite recent exits of Amazon and Google from insurance comparison services, traditional insurers continue to excel, blending technological innovation with proven expertise.
European insurers and automotive service providers appeal to the EU for urgent legislation on equitable access to in-vehicle data to foster competition and innovation.
The rise of electric vehicles and advanced automotive technologies is significantly altering the auto insurance industry, impacting costs and prompting innovative insurance practices.