Michigan needs to confront risks to its $348 billion piece of the global automotive industry this year and move decisively toward keeping jobs, engineering and production in the state. That message comes from Glenn Stevens, executive director of statewide industry advocacy group MichAuto that last month released a report he describes as a “call to […]
Michigan Auto Industry Faces ‘a Critical Time,’ Report Says Read More »
Louisiana Insurance Commissioner Tim Temple has approved Progressive Security Insurance Company’s request for a 6.6% average rate decrease on its over 270,000 private passenger auto insurance policyholders and Progressive Paloverde Insurance Company’s request for a 4% average decrease on its nearly 200,000 policyholders. Progressive Security’s 6.6% decrease follows a 3.2% decrease the company filed in
Progressive Approved for Personal Auto Rate Decreases in Louisiana Read More »
In their latest report on the U.S. auto insurance market, analysts from S&P Global Market Intelligence predict the strongest overall U.S. property/casualty insurance underwriting results in 18 years for 2025, driven by favorable private passenger auto outcomes. Still, while their 2025 projected combined ratio across all lines is now 96.2, three points better than a
Good Times for US P/C Insurers May Not Last; Auto Challenges Ahead Read More »
Kentucky’s Transportation Cabinet and Department of Insurance have launched a new vehicle insurance verification system, and auto insurers have until Jan. 15 to start getting on board. The new Kentucky Insurance Verification System, authorized by state lawmakers earlier this year, should allow state agencies to access auto insurance information in real time and should improve
Auto Insurers Must Soon Submit Info to New Kentucky Insurance Verification System Read More »
Georgia Insurance Commissioner John King announced more auto insurance rate reductions for motorists in the state—the second announcement in as many months. King credited tort-reform laws and stepped-up efforts to combat insurance fraud. “As we continue the OCI mission to build a fair and affordable insurance marketplace, I am confident that we will see rates
Georgia Commissioner Touts More Auto Rate Reductions by Major Insurers Read More »
More than one million State Fam auto insurance policyholders in Louisiana should see a decrease in premiums in 2026, as Insurance Commissioner Tim Temple approved the carrier’s request for a 5.9% average rate decrease. State Farm is the largest personal auto insurer in Louisiana, covering approximately 30% of the market. The rate decrease, which goes
State Farm Files for Auto Rate Decrease, Homeowners Rate Increase in Louisiana Read More »
Bankrupt subprime auto dealer Tricolor Holdings is preparing to sue the company’s founder for allegedly masterminding a massive fraud that led to the company’s collapse into bankruptcy, according to a court filing. Daniel Chu is already facing probes by the U.S. Justice Department and the U.S. Securities and Exchange Commission, Tricolor’s bankruptcy trustee said in
Tricolor Trustee Files Suit in Texas for Auto Dealer’s Collapse Read More »
The Michigan Department of Insurance and Financial Services this month released a report on the impact of the state’s 2019 auto insurance reform and found cost was reduced an average of $357 per vehicle. “In 2019, Democrats and Republicans in the Legislature and I came together to deliver historic, bipartisan auto insurance reform that lowered
Michigan Reports Finds 2019 Auto Reform Reduced Insurance $357 Read More »
Can an auto insurer in Massachusetts refuse to offer collision and comprehensive coverages during a flood warning despite a state law that makes it mandatory to offer such coverages? The industry and public are on the road to finding out. A Massachusetts trial court judge has allowed a purported class action against Progressive Direct Insurance
Is a Mass. Auto Insurer Allowed to Refuse to Offer Coverage Due to Flood Warning? Read More »
State Farm Mutual Automobile Insurance Co. submitted a rate filing to reduce personal auto insurance rates by 6.2%. The filing has a targeted effective date of Feb. 23, 2026, and is pending approval from the California Department of Insurance. State Farm said recent trends involving less costly physical damage claims are what enabled the carrier
State Farm Files for 6.2% Auto Rate Reduction in California Read More »