Tag: Auto Insurance

$500,000 care insurance fraud ring suspects arrested in California

G. Turner
Car Insurance Fraud Ring - damaged car

Four suspects have been arrested in this case for reportedly scamming insurers out of half a million dollars. Investigators in California have arrested four suspects for their alleged involvement in a car insurance fraud ring. Their alleged activities cost scammed insurers $500,000 until they were found out by the California Department of Insurance, San Diego County District Attorney’s Office, and the California Highway Patrol. The four arrests were made earlier this month following a substantial investigation into the scam. According to reports, the car insurance fraud ring involved dealers buying…

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Auto insurance claims involving animals skyrocket in the fall, says Farmers Insurance

Marc
Auto insurance claims - Cow on Road

The insurer is reminding drivers to be mindful of this seasonal increase in driving risks. As the fall begins, so does the migration season for many kinds of animals, which unfortunately leads to a rise in auto insurance claims in crashes involving animals on the road. New data by Farmers Insurance showed an increase in 36 percent in claims for those reasons. Farmers Insurance data showed that there is a rise of about 36 percent in comprehensive auto insurance claims involving crashes with animals on the roads during the fall.…

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Thai uninsured drivers now have a unique affordable auto insurance policy option

H. Cutner
Uninsured Drivers - Driver - Steering Wheel

Thaivivat and AIS partnered to attract these motorists with coverage exclusively while driving. Thaivivat, an insurance company in Thailand, has partnered with telco AIS to draw uninsured drivers in the country. The idea is to provide a type of coverage that is affordable through a unique product that is a first of its kind in the world. This auto insurance coverage is unique in that it applies only when the vehicle is in operation. This program to appeal to uninsured drivers is the first on the planet that automatically covers…

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Tesla insurance still slated to move forward after delay, says Musk

Julie Campbell
Tesla Insurance - Tesla Charing Station

Elon Musk spoke at the company’s annual shareholder meeting, addressing his previous coverage claims. CEO Elon Musk spoke at his company’s annual shareholder meeting, addressing the topic of the Tesla insurance he’d previously promised to drivers of the automaker’s electric vehicles. Musk insists that the electric vehicle insurance product is still in the works, only delayed. Musk explained that the Tesla insurance product would become available after an unspecified acquisition is completed. He also pointed out that additional software was in development. The Tesla electric vehicle insurance would become available…

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Insurance Institute for Highway Safety wants better rear seat upgrades from automakers

Logan B.
Insurance Institute for Highway Safety - Seatbelt

The non-profit is calling for vehicle makers to improve the restraint systems in the back seats of cars. A new report from the Insurance Institute for Highway Safety showed that the non-profit feels backseat safety restraints are underperforming. The organization is calling for automakers to step up and improve the restraint systems in the back seats of their vehicles. The institute conducted a study that found that rear seat safety is not keeping up with that of front seats. The Insurance Institute for Highway Safety conducted a study, the results…

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Tesla car insurance may be on its way for insuring electric vehicles

Marc
Tesla Car Insurance - Tesla EV charging

Elon Musk’s EVs are facing problems on several different levels, causing the automaker to consider insuring. After another one of the company’s cars spontaneously burst into flames earlier this month, Tesla car insurance is likely to become available. The electric vehicle suddenly started burning while parked in a Shanghai garage. This was not the first time such an event has occurred. As a result, Tesla is likely to offer auto insurance to let its customers affordably cover their vehicles. Elon Musk, the company’s CEO brought up the subject of Tesla…

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Regulators decline Wells Fargo’s strategy to repay insurance customers

Nordstrom
Repayment of insurance customers stopped - Stop Sign

American regulators have rejected the bank’s repayment plan to borrowers who were unfairly sold coverage. The Office of the Comptroller of the Currency (O.C.C.) has rejected Wells Fargo’s plan to repay its insurance customers. Those borrowers were overcharged by the bank when they were sold unnecessary auto insurance. The O.C.C. has not yet implemented a deadline by which a plan must be approved. That said, Wells Fargo is unable to complete the effort of compensating its affected customers until it receives the regulator’s nod. Regulators told Wells Fargo it must…

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