A Colorado court of appeals has ruled courts can’t enforce a law that requires insurers to reimburse vehicle registration fees to total loss claimants. The decision stems from a class action lawsuit brought against LM [...]
South Korean officials are holding emergency meetings with automakers after an electric Mercedes-Benz appeared to spontaneously start a fire in a residential building, damaging 140 vehicles and displacing some of the people who lived there, [...]
Raids on Mercedes-Benz counterfeit parts increased by 20% in 2023, according to new data released by the OEM. About 1.6 million Mercedes-Benz counterfeit parts were seized last year and 142,000 offers of counterfeit products deleted [...]
Insurers in Virginia will now pay double if underinsured and uninsured (UM/UIM) motor vehicle claim denials or nonpayments are proven to be in bad faith. Effective July 1, amendments to §§ 8.01-66.1 state, in part, [...]
A recent $2.9 million settlement against Magna International for failing to adequately review 401K plan investments is a reminder to any company that provides retirement options to employees. Magna and its investment committee was accused [...]
Amid market volatility and economic uncertainty following last week’s poorly received jobs report, Insurance Insider recently analyzed what could happen to the property and casualty insurance industry if a recession occurred. The analysts surmise that [...]
LKQ CEO Justin Jude recently held his first earnings call in his new role when the company announced it didn’t meet expectations because of lower repairable claims in North America in the second quarter. Jude [...]
A group of U.S. senators has urged the National Highway Traffic Safety Administration (NHTSA) to review its vehicle flammability standard concerning known and potential carcinogens. “We write with alarm after a new study of recent [...]
Continental’s Automotive Group recently took steps towards its planned independence, which could be completed by the end of 2025, according to a press Continental press release. The company’s Executive Board decided to spin off the [...]
A recent Wall Street Journal article highlights the cost increases in various insurance lines that small businesses face, and the cutbacks that have to be made to keep afloat. Rising insurance costs represent the greatest [...]
