Lurah Lowery

2 days ago | repairerdrivennews.com | Lurah Lowery

Six trade groups representing automakers and the aftermarket have written to the Departments of the Treasury and Commerce asking that regulations to implement President Donald Trump’s 25% tariff on imported automotive parts allow them more time to reroute supply chains. A 25% tariff on assembled vehicles imported into the U.S. went into effect on April 3, and a 25% tariff on some parts is set to begin May 3. “As you know, existing automotive supply chains are global and complex.

2 days ago | repairerdrivennews.com | Lurah Lowery

Insurtech Lemonade has reported to the Securities and Exchange Commission (SEC) that the cause of a breach of 190,000 driver’s license numbers has been resolved. An April 4 report to the SEC states that Lemonade concluded a technical issue in its car insurance quote flow was to blame for data exposure when received by an application programming interface call to a third-party data provider.

2 days ago | repairerdrivennews.com | Lurah Lowery

Progressive’s Q1 profit increased by 10% over Q1 2024, reaching nearly $2.6 billion in net income and a 43-cent increase per share, as of March 31. Specific to auto insurance, revenue from direct personal lines was up by 25%, or nearly $14.8 million, compared to almost $11.9 million brought in during Q1 2024. Progressive’s combined ratio was 86%, down 0.1% from a year ago. When the combined ratio is below 100%, that shows more revenue was made from premiums than spent on paying claims.

3 days ago | ourcommunitynow.com | Lurah Lowery

Share A $1.2 million punitive damages lawsuit filed against State Farm by a former Missouri collision repair business owner is set to go to trial in December.The Collision Company first filed suit in 2020, accusing the carrier of aggressively steering business away and causing a 40% loss in business from State Farm customers who decided not to proceed with repairs after speaking to their insurer.A second amended complaint was filed in August 2024, bringing the damages sought down from $10...

3 days ago | repairerdrivennews.com | Lurah Lowery

A $1.2 million punitive damages lawsuit filed against State Farm by a former Missouri collision repair business owner is set to go to trial in December. The Collision Company first filed suit in 2020, accusing the carrier of aggressively steering business away and causing a 40% loss in business from State Farm customers who decided not to proceed with repairs after speaking to their insurer.