Market concentration in auto insurance increases; GEICO, Progressive projected to pass State Farm in 2023

Personal auto insurance continues to move toward a “more concentrated” market, with the 10 largest carriers controlling 76% of the market at the end of 2021, Fitch Ratings said in its recently released “U.S. Personal [...]

2022-07-26T07:30:34-04:00July 26th, 2022|RDN News Feed|

Hands-on driver assistance package offered on all 2023 Volkswagens

Volkswagen’s IQ Drive, a hands-on driver assistance technology introduced in 2021, will be offered as standard or available equipment on all of the OEM’s vehicle lines for the 2023 model year, the automaker has announced. [...]

2022-07-26T07:30:04-04:00July 26th, 2022|RDN News Feed|

CIC Committee Presentation: 86% of all quoted collision repair data could be available for sale

If you’re a shop owner, your customer’s personally identifiable information (PII) data — everything from full name, home address, email, cell number, VIN, insurance carrier, and more — could be compromised at the hands of [...]

2022-07-25T08:00:06-04:00July 25th, 2022|RDN News Feed|

Enterprise: Length of rental remains elevated for Q2, with shop-insurer communication delays a factor

The average length of collision-related rentals was 17.7 days in the second quarter of 2022, a drop of a half-day from the first quarter, but an increase of 4.5 days from the second quarter of [...]

2022-07-25T07:01:05-04:00July 25th, 2022|RDN News Feed|

Allstate still losing money on auto insurance, despite rate increases

In spite of raising rates by an average of 8.3% in all 50 states, Allstate continues to lose money on auto insurance, according to the company’s second quarter underwriting results. The carrier said it paid [...]

2022-07-25T07:00:34-04:00July 25th, 2022|RDN News Feed|

Collin College in Texas becomes fifth school to join innovative collision repair training program

Collin College Technical Campus is partnering with the Collision Engineering Program, a two-year apprenticeship program designed to attract and develop entry-level talent to fill key roles within the collision repair industry, and enhance retention and [...]

2022-07-22T08:00:06-04:00July 22nd, 2022|RDN News Feed|

NHTSA rejects driver-selectable pedestrian alert sounds for hybrid, electric vehicles

The National Highway Traffic Safety Administration (NHTSA) has issued a final rule on minimum sound requirements for hybrid and electric vehicles (EVs), which rejects the use of driver-selectable alert sounds. The proposal was considered as [...]

2022-07-22T07:00:05-04:00July 22nd, 2022|RDN News Feed|

Report finds State Farm, Allstate most hit by insurance litigation in 2021

State Farm, the nation’s largest auto insurer, is also far and away the most sued, according to a recently-released report by data provider Lex Machina. According to the 2022 Insurance Litigation Report, State Farm was [...]

2022-07-21T11:00:10-04:00July 21st, 2022|RDN News Feed|
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