The COVID-19 pandemic comes with one bright spot for workers’ compensation insurers: Fewer workers are being injured in motor vehicle accidents. A research brief issued by the National Council on Compensation Insurance last week projects that workers’ compensation claims caused …
The shutdown of workplaces and gathering spots around the country to slow the spread of coronavirus may lead to a sharp reduction in auto insurance claims. Two consumer groups want to make sure that insurance carriers don’t enjoy any windfall. …
Motorists drove a record 3.22 trillion miles (5.2 trillion km) on U.S. roads last year, a 2.8 percent rise from 2015 and the fifth consecutive year of year-over-year increases, according to the U.S. Department of Transportation. Motorists logged 263.6 billion …
The property/casualty insurance industry has made money on its personal lines underwriting since 2013 but that is likely to change in 2015. At the same time, commercial auto insurance should still make an underwriting profit in 2015 although it is …
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 loss for the quarter. The company stressed that …
Allstate reports that drivers that are signed up for its usage-based insurance program, Drivewise will register more than one billion miles driven this month. Allstate also said that Drivewise is launching in Kentucky and Montana this week, making the usage-based …