In Q2 2024, U.S. and Canadian collision claims for electric vehicles saw significant increases, despite a downturn in EV sales. Hybrid vehicles also experienced rising claims frequency, highlighting shifting market dynamics.
A Visalia taco truck owner has been arrested for staging a robbery and arson in an attempt to defraud insurance companies. Surveillance footage and a linked accomplice led authorities to uncover the plot, resulting in charges of conspiracy, arson, and insurance fraud.
General Motors recalls certain 2023-2024 Cadillac Lyriq models due to a potential defect in the ABS, which may activate unexpectedly and lead to a loss of brake pressure, increasing the risk of accidents.
The National Highway Traffic Safety Administration is gathering information on a fatal crash involving a Tesla Cybertruck in Texas but has not launched a formal investigation.
Georgia has become one of the least affordable states for auto insurance, with rising costs driven by factors such as legal system abuse, uninsured motorists, and increased litigation, according to a recent IRC study.
Despite recent reports of its demise, insurtech is thriving within large carriers, driving innovation and competitive advantage through technologies like telematics, IoT, and data analytics.
William Oldham Mize, the mastermind behind a multimillion-dollar insurance fraud scheme involving staged accidents, pled guilty in Spokane Federal Court. The scheme spanned multiple states and involved numerous conspirators, resulting in over $6 million in fraudulent insurance claims.
IoT technology is poised to simplify insurance by enhancing data integration, improving risk analysis, and overcoming workforce challenges, ultimately protecting people and businesses more effectively.
A former claims adjuster from Aurora has confessed to stealing over $268,000 from her employer by filing fraudulent auto insurance claims, resulting in felony theft charges for her and two accomplices.
The U.S. alleges that National General Holdings Corp. improperly force-placed insurance on vehicles financed through Wells Fargo for over a decade, causing financial harm to borrowers.
The Q2 2024 Ivans Index reveals an overall increase in premium renewal rates for major commercial insurance lines, with Workers’ Compensation as the exception, showing a year-over-year decrease.
The Oscar Mayer Wienermobile was involved in a rollover crash on the Tri-State Tollway near Oak Brook, Illinois, resulting in no injuries. The accident caused a lane closure but all involved are safe.
Adjusters in the insurance industry, particularly those working in property claims, are expressing significant frustration and burnout due to overwhelming workloads and unrealistic expectations.
Auto theft in Canada has decreased by 17% in the first half of 2024, thanks to increased border patrols, police collaboration, and government actions, a report finds.
