Tag: Auto Insurance

Auto Insurance Rates Rise 7.5% in 2025; NJM Insurance Group Shines in Consumer Reports

Auto insurance rates are projected to rise 7.5% in 2025 amid rising claims and costs. NJM Insurance Group ranks highly in Consumer Reports for claims, customer service, and mutual company benefits.

Carvana's Remarkable Turnaround Signals Growth in Online Used-Vehicle Sales

Carvana's financial turnaround and growth prospects highlight significant changes in the online used-vehicle market, with rising profits, expanding market share, and strategic acquisitions fueling its expansion.

State Farm Reverses Denial on $12K Water Damage Claim After Media Spotlight

State Farm reverses denial of a $12,000 water damage auto insurance claim for Hyundai Ioniq 5 after media investigation prompts reevaluation. Highlights insurance claim challenges and vehicle design issues.

Rising Costs Lead US Drivers to Cut Car Insurance, Impacting Vehicle Salvage Market

Higher living costs in the US are causing drivers to reduce or drop car insurance, affecting the supply of totaled vehicles in the salvage market and impacting companies like Copart.

Florida Insurance Summit Highlights Success of Legislative Reforms and Market Recovery

Florida's insurance market shows signs of recovery following 2022-2023 legislative reforms, with reduced litigation and lower rates in property insurance and the preservation of PIP auto insurance.

U.S. Court Grants Class Certification in Liberty Mutual Rental Car Benefits Case

The U.S. District Court grants class certification under Rule 23(b)(3) in a lawsuit against Liberty Mutual over rental car benefit limits, highlighting key legal distinctions in insurance class actions.

Florida Auto Insurance Fraud Evolves as PIP Reforms Shift Focus to Bodily Injury Claims

Florida's auto insurance fraud landscape is evolving; PIP reforms curb old schemes but fraud shifts to costly bodily injury claims, impacting insurers and consumers.

Beneva Adopts Guidewire APD to Accelerate Digital Auto Insurance Services

Beneva enhances online auto insurance policy management with Guidewire Advanced Product Designer, enabling faster digital product rollouts and improved customer experience.

Mexico's Automotive Industry Faces Investment, Supply Chain, and Insurance Challenges

Explore key challenges in Mexico's automotive sector, including a 20% drop in foreign investment, supply chain disruptions, rising insurance costs, and labor changes ahead of the 2026 USMCA review.

Rising Reinsurance Costs Drive Up U.S. Vehicle Insurance Premiums

Learn how rising reinsurance costs due to inflation and extreme weather are driving up vehicle insurance premiums in the U.S., and explore strategies for policyholders to manage higher costs.