Tag: auto insurance

Auto insurance news concerning consumer tips, company updates and insurance law updates.

Insurance and Technology: The Rise of Insurtech

Guest Author
insurtech insurance technology

The insurance industry, traditionally viewed as conservative and slow to adapt to change, is undergoing a dramatic transformation thanks to technology. This fusion of insurance with technology, known as ‘Insurtech’, is reshaping the landscape of insurance offerings, customer service, and business models. The Evolution of Insurtech Insurtech began as a response to the digital revolution that has swept across other sectors. Today, it represents a broad range of applications: from artificial intelligence and machine learning for underwriting and fraud detection, to blockchain for secure and transparent transactions, and the Internet…

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Pedestrians hit by cars in Illinois to face fewer auto insurance struggles

G. Turner
Auto insurance - Pedestrians walking across road

The state Supreme Court has issued a ruling to help victims to be able to better access cost coverage. This month, the Illinois Supreme Court ruled to make it easier for pedestrians struck by vehicles to be able to have their medical costs covered by auto insurance. The ruling was meant to help reduce the number of barriers in the way of victims having costs covered. It isn’t uncommon for auto insurance companies to initially deny claims filed by pedestrians because they aren’t passengers in a covered vehicle. Therefore, while…

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Is Florida also headed toward an auto insurance crisis?

Logan B.
Auto insurance - Crisis coming to Florida

The state is already teetering on the edge in its property coverage sector, but are vehicles next? Florida has long contended with challenges in its auto insurance industry due to the way the laws in the state open the door to fraud and widespread litigation, both of which are highly costly to insurers and, therefore, to drivers who must pay higher premiums every month. Among the issues driving this problem include the activities of certain glass repair shops and lawyers. A recent The Washington Post report has pointed to a…

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Halloween safety tips you can really use this year

Nordstrom
Halloween safety - Trick or Treat Jack o lanterns

When it comes to this holiday, the key is to make sure the scary parts are all just make-believe. As the country gets ready to celebrate the spookiest time of the year, the American Property Casualty Insurance Association (APCIA) has shared a number of helpful Halloween safety tips to make sure everyone has fun without harm or property damage. The APCIA reminds drivers and property owners that a few simple steps can make all the difference. Just a few basic precautions for Halloween safety can help to prevent major accidents…

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No-fault auto insurance overhaul bill passes Michigan Senate

H. Cutner
Auto insurance - No Fault - Car accident

The state’s Legislature held its first vote to modify the system near the end of last week. The Michigan Legislature voted on a bill to modify the no-fault auto insurance system in the state, approving changes meant to reduce the cost of coverage for drivers while overcoming some of the challenges left behind by the overhaul made in 2019. The 2019 changes cause certain medical providers to stop providing care to car crash victims. The new legislation voted on last week passed the Senate. It was meant to boost reimbursement…

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Auto insurance challenges expected to ease, says S&P US report

Logan B.
Auto insurance - Woman sitting in car, frustrated

Though rates have been rising sharply during the pandemic recovery, that trend will level out. According to the S&P Global Market Intelligence US Auto Insurance Market Report, private insurer results are expected to improve from where they stood last year, when the combined ratio of 112.2 percent was the worst seen in decades. That said, according to the report, the improvements won’t occur as quickly as the industry had hoped. The private auto insurance results are still expected to improve, though not as fast as was previously predicted. “The post-pandemic…

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State Farm auto insurance reveals states where you’re most likely to hit an animal

G. Turner
auto insurance - Deer by the side of the road

The insurer has released data based on the claims it has received from drivers in every state. According to State Farm auto insurance claims, November is the month in which a driver is most likely to be in a collision with an animal, and there are some states in which that risk is notably higher than others. The insurer has compiled a list of the states where drivers hit the most animals while on the road. According to State Farm’s auto insurance claims and industry data, there will be an…

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