Posts Tagged ‘weather events’

Extreme Weather & Total Loss: Preparing Insurance Carriers for Catastrophe Season

Tarek Wiley / Auto Insurance, Auto-Finance, Perspectives, Research, Total Loss Care /

To account for reduced driving because of social distancing and shelter-at-home guidelines, auto insurers are returning around $10.5 billion to their customers, providing financial relief when they need it most. But on top of the premium rebates being offered to drivers, a major natural disaster could be catastrophic for business. As we enter peak catastrophe […]

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Harvey: Trying to Gauge Impact

CCC Corporate / Perspectives /

To understand potential impact of Harvey on insurance losses to date, a comparison to past events can be instructive.  The following graph illustrates the impact on just total loss costs from several major weather events between 2003 and 2012. Superstorm Sandy was by far the most impactful, with both the volume and cost of the […]

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What’s Driving Repair Cycle Time?

CCC Corporate / Crash Course, Perspectives /

(As published in Claims Journal.) Numerous studies have been completed over the years that show consumer satisfaction with auto insurance companies is tied to their satisfaction with the vehicle repair.  Consumers say they want more visibility throughout the claim and repair process, and prefer information be sent to them on the device and at the […]

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Weather Events Lead to Higher Claim Counts in 2016

CCC Corporate / Crash Course, Perspectives /

(This article was first published in PropertyCasualty360.) Economic recovery, cheap gas prices, more vehicles on the road overall, and more miles driven per vehicle have been attributed with much of the increase in auto accident/claim frequency coming out of the recession, and in particular in CY 2015 and CY 2016 to date. Overall miles driven in […]

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