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Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
The most common fraud involves offenders filing false or exaggerated claims, Mercury Insurance reports.
The scam fraudulently pulled in $60 million from auto insurance carriers.
During Q1 2024, electric cars saw a total loss rate of 9.93%, according to Mitchell International.
Consumers earning $50,000-$200,000 annually are most likely to change auto insurance.
Private workers' comp carriers achieved a combined ratio of 86 for the 2023 calendar year.
The average cost per dog-bite claim dropped by approximately 9% this past year.
Compared with older cohorts, homeowners age 18-34 were 10 times more likely to have their insurance dropped.
Insurers assess auto accident risks by county or state, and theft or vandalism risks by city or neighborhood.
In 2023, ransomware claims increased 64% compared with the year prior, At-Bay reports.
In January, domestic shorthair cats saw a 93% increase in abnormal behavior claims.