INSURASALES

Tag: auto insurance

U.S. Auto Insurance Rate Increases Slow in 2025 Amid Market Stabilization

Auto insurance premium increases in the U.S. slowed significantly in 2025, driven by improved insurer profitability, fewer claims, and stabilized repair costs. State differences remain key factors.

Declining Auto Theft in 2024 Does Not Lower Insurance Premiums

Auto theft in the U.S. drops by 17% in 2024, but auto insurance premiums continue to rise due to repair costs, inflation, and legal factors influencing the insurance market.

State Farm Names Joe Park Chief Digital & Information Officer

State Farm appoints Joe Park as EVP and Chief Digital & Information Officer to lead technology and innovation, advancing digital services in insurance.

Rising Insurance Costs Drive Record Auto Policy Shopping in 2024

Record-high insurance rates in 2024 drive unprecedented auto policy shopping, challenging insurers to enhance customer retention strategies amid rising costs.

Alberta Premier Signals Auto Insurance Reform with Public Insurance as Backup

Alberta Premier Danielle Smith plans a 2027 auto insurance overhaul to reduce premiums by limiting lawsuits, with public insurance as a potential fallback amid insurer pressures.

Triple-I Study Reveals $42.8B Excess Motor Vehicle Tort Litigation Impact on Auto Insurance

Triple-I analysis finds $42.8 billion in excess motor vehicle tort litigation value from 2014-2023, highlighting impacts on U.S. auto insurance costs and the need for improved civil court data transparency.

Michigan Court Revisits No-Fault Benefit Assignments and Rescissions in Sharp v. Tracht

Michigan Court of Appeals clarifies assignment and revocation of No-Fault benefits in Sharp v. Tracht, impacting claims handling and one-year back rule compliance under MCL 500.3145.

Tennessee Ranks Third Nationwide for Fatal Hit-and-Run Crashes, Highlights UM/UIM Coverage Importance

Tennessee ranks third nationwide in fatal hit-and-run crashes, underscoring the critical need for Uninsured and Underinsured Motorist coverage to address compensation gaps in auto insurance policies.

Arkansas Jury Rules for Plaintiffs in Auto Insurance Underpayment Class Action

An Arkansas jury has sided with plaintiffs in a class action against a car insurer accused of underpaying claims, highlighting regulatory and compliance issues in the auto insurance sector.

Florida Insurance Reforms Attract New Property Carriers, Lower Rates in 2024

Florida's recent insurance reforms drive new property insurers into the market, lowering homeowners and auto insurance rates and reducing litigation.