Repairer Driven News
RDN was established to deliver news and insights specifically geared towards the collision repair sector. Our mission is to ensure that businesses in this field stay informed with content that is relevant and tailored to their needs. We believe that an industry equipped with knowledge thrives, which is why we have created personalized options for our audience to choose how they receive and engage with information. We understand that it's essential to not only report on events but also to explain their significance. Our goal is to offer this essential information in a more efficient way, enhancing connectivity through our user-friendly website and a dedicated mobile app. These platforms will serve as a comprehensive hub for original articles and curated reports from various sources, all focused on the collision repair industry. Our vision is to empower collision repair businesses with easy access to crucial information.
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Global
#679392
United States
#184580
Vehicles/Automotive Industry
#1617
Articles
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1 day 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.
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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.
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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.
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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.
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4 days ago |
repairerdrivennews.com | Lurah Lowery
So far this year, collision repair customers have seen weighted average paint and material (P&M) costs increase by an average of 7.4%, according to company announcements from the five major refinish brands. Paint material increase announcements tracked since Q1 2020 have resulted in an additional average cumulative increase of 59.6%. During a July 2022 Collision Industry Conference (CIC) meeting, a committee report indicated that material costs had risen 43.9% from 2017-2022.
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