Ongoing economic problems — including rising prices, high interest rates and stagnant wages — are creating problems for some insureds whose cars get totalled. The situation’s most acute for clients who experienced financial problems during the pandemic and bought used…
Is that car worth repairing? Given ongoing supply chain disruption and high inflation rates, the answer for insurers may increasingly be ‘no.’ “We see significant increases in rental costs,” said Kumar Siva, senior vice president for third party administration services…
Definity Financial Corporation’s executive vice president of personal insurance is concerned about two trends in auto physical damage. “The two areas that are of concern to us are theft and total loss, where we are seeing approximately a 25% increase…