News
State Farm changes pay for 19, 000 agents, causing reduction for many
17+ hour, 28+ min ago (654+ words) State Farm has made changes to its compensation and benefit package for 19, 000 agents, with some saying it will "substantially reduce their earnings," an NPR affiliate is reporting." WGLT also reports that State Farm is cutting its benefits for retired insurance…...
Mitchell: Shift in EV claim trends introducing new challenges for insurers, repairers | Repairer Driven News
1+ week, 1+ day ago (411+ words) Mitchell's Q1 2026 Plugged-In: EV Collision Insights'report reveals a shift in electric vehicle claim trends that it says is introducing new challenges for insurers and repairers, including risk exposure, cycle time, and repair complexity. During the quarter, the share of repairable collision…...
Lexis Nexis, J. D. Power report upward insurance shopping and switching trends
2+ week, 1+ day ago (558+ words) U. S. auto insurance shopping and new business growth shifted from "hot" to "warm" in Q1 2026, according to the latest U. S. Insurance Demand Meter from Lexis Nexis Risk Solutions. Year-over-year (YOY) shopping growth decreased to 3. 2%, turning negative in March, down from an increase of…...
Local North Carolina news station explores concerns about State Farm auto claims practices
2+ week, 2+ day ago (708+ words) A North Carolina news segment that aired Monday explores concerns about State Farm claims practices brought by Michael Bradshaw, K&M Collision vice president and Society of Collision Repair Specialists (SCRS) chairman." "It shouldn't surprise you that insurance companies never…...
New York bill would require auto insurers submit annual financial and claims data
3+ week, 3+ day ago (226+ words) A newly filed New York bill would require all motor vehicle insurance companies to file annual financial and claims data with the state." AB 11155 would create the Automobile Insurance Sunshine Act. If the bill passes, it would make the yearly…...
State Farm claims practices cited as ongoing issue by collision industry
3+ week, 6+ day ago (1812+ words) State Farm claims handling practices, including a shift to a centralized claim review process, reduction of labor rates, and other claims practices, were recently a topic of contention with regulators and attendees during April's industry events week in North Carolina....
NC insurance commissioner: No "magic bullet" to solve insurance issues
4+ week, 1+ day ago (999+ words) North Carolina Insurance Commissioner Mike Causey told collision repairers and others associated with the industry last week that "nobody has a magic bullet" to improve insurance claims handling practices. Causey and North Carolina Department of Insurance (NCDOI) Vehicle Towing, Recovery,…...
Allstate pays Virginia woman's full repair bill after she goes to local media
1+ mon, 6+ day ago (568+ words) A Virginia woman went to a local news station after Allstate refused to pay her full repair bill, according to a newscast from 12 On Your Side." The woman, Tina Kelley, told reporters that a day after their newscast aired, the…...
Illinois Secretary of State releases study on insurance industry ratemaking practices
1+ mon, 1+ week ago (534+ words) Illinois Secretary of State Alexi Giannoulias releases a study that details how auto insurance companies are using non-driving factors to increase costs for Illinois drivers." "This study puts hard data behind what Illinois drivers have been experiencing for years " pricing…...
Moody's: 20 U. S. P&C insurers generated $69 billion last year, up $15. 6 billion from 2024
1+ mon, 2+ week ago (328+ words) Property Casualty360 reports that, according to new data from Moody's, a group of 20 U. S. property and casualty insurers generated net income of $69 billion last year, up from $53. 4 billion in 2024. "Better underwriting performance and slightly lower catastrophe losses helped boost profitability," the article…...