Auto Claims Hit Allstate’s Q2 Results
Allstate Corp. reported net income fell to $355 million in the second quarter, down from $645 million, as the insurer coped with rising auto claims costs. The Allstate brand suffered an underwriting...
View ArticleProgressive Insurance CEO on 5 Macro Trends of Note
By his own admission Progressive Insurance CEO Glenn Renwick (and his company) may not be right about the impact certain macro trends will have on the insurance industry, but in his view “it’s...
View ArticleIf Auto Injury Claims Frequency Is Falling, Why Are Claims Costs Rising?
Auto insurance bodily injury claims costs are still increasing in the United States, even though better vehicle safety has helped reduce claims frequency, according to the Insurance Research Council...
View ArticleIncreased Car Accidents? Blame Weather, Time of Day—Not Pot Decriminalization
Actuarial research released last week suggests that marijuana decriminalization is not associated with a notable increase in traffic accidents or accident severity. Temporal patterns of human activity...
View ArticleViewpoint: Used-Vehicle Prices May Be Cresting but Insurers Still Underwater
“It was the best of times, it was the worst of times” would be an apt description of the last few years for auto insurers. Immediately after a nationwide, months-long driving hiatus caused collisions...
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