• Vehicle Insurance

    Auto Insurance Claim Satisfaction Rises on Combination of Soaring Vehicle Values and Growth of Straight-Through-Processing Claims Management, J.D. Power Finds

    Increased Vehicle Complexity Introduces New Challenges: Claims for Vehicles with Advanced Driver-Assistance Systems (ADAS) 13.5% Higher on Average TROY, Mich., October 28, 2021–(BUSINESS WIRE)–The nationwide surge in used vehicle prices has given an unexpected boost to auto insurance customers who experience a total loss—their vehicles might be worth more than they thought. This phenomenon of higher replacement values, combined with advancements in straight-through-processing (STP), has driven customer satisfaction with auto insurance claims to a record high in the J.D. Power 2021 U.S. Auto Claims Satisfaction Study,℠ released today. Despite these gains, however, the industry is facing new  

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  • Vehicle Insurance

    World EV Day 2021: Electric vehicle insurance – All you need to know

    Along with the growth in the EV segment in the country, there will be a huge demand for motor insurance for electric vehicles. Whether one drives petrol, diesel or electric vehicle, insurance is mandatory. Updated: Sep 13, 2021 1:39 PM 2021 Tata Tigor EV (Image for representational purposes only) In order to control pollution, Union Minister Nitin Gadkari recently announced a new vehicle scrappage policy in the Parliament- an announcement, which will boost the electric vehicle market in the country. Proposals like National Electric Mobility Mission 2020, Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) have also been  

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  • Vehicle Insurance

    Ford Motor Company and LexisNexis Risk Solutions Join Forces to Help U.S. Drivers Maximize Connected Vehicle Benefits

    One of the Largest U.S. Car Manufacturers in the U.S. Auto Insurance Market Offers Connected Vehicle Data to Leading Insurance Data and Advanced Analytics Provider. ATLANTA and DETROIT, Sept. 9, 2021 /PRNewswire/ — LexisNexis® Risk Solutions and Ford Motor Company today announced they have entered into a strategic agreement so that Ford connected vehicle data can be available to U.S. auto insurers via the LexisNexis® Telematics Exchange. Ford and Lincoln customers with an eligible 2020 model year or newer vehicle can opt in to participate in usage-based insurance (UBI) programs, which has the potential to save customers money  

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  • Vehicle Insurance

    Should NYC drivers who found their car stuck in Hurricane Ida floodwaters consider the vehicle totaled?

    STATEN ISLAND, N.Y. — Were you one of the many Staten Islanders whose cars were flooded last week when the borough experienced historic rainfall from Hurricane Ida? If so, there’s a good chance you won’t be driving that car ever again. Last week, the Staten Island Advance/SILive.com received dozens of reports of cars submerged in floodwaters after Hurricane Ida battered New York City and flooded streets in a matter of minutes on Wednesday, Sept. 1. Unfortunately for those residents, when a car is partially or fully submerged in floodwaters, it can suffer extensive damages that either can’t be repaired or  

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  • Vehicle Insurance

    How the new bumper-to-bumper vehicle insurance rule will impact consumers

    The law was drafted and brought in effect to safeguard the interest of a third party that suffers injuries or property damage due to an accident with the involvement of an insured vehicle. However, the own-damage insurance cover is optional, while the personal accident cover is necessary only for the owner-driver of the car. In this piece, we will look at how will the new bumper-to-bumper insurance of the vehicle impact the consumer wallet? What is the new vehicle insurance order? The Madras high court, in a judgement, has said all vehicles sold in Tamil Nadu after 1 September 2021,  

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