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SAN DIEGO, May 4, 2021 /PRNewswire/ Mitchell, a leading provider of technology, connectivity and information solutions to the Property & Casualty (P&C) claims and Collision Repair industries, and Mazda North American Operations (MNAO) today announced the launch of the Mazda Collision Network. The Network reinforces the companies commitment to safety and provides Mazda vehicle owners with confidence in the repair of their automobiles. It also offers participating U.S. Mazda dealerships, Multi-Shop Operators (MSOs) and independent repair facilities the opportunity to enhance customer loyalty, improve workflow efficiency and attract new business. Our customers are at the heart of everything we do, said Rob Milne, Vice President of Aftersales and the Technical Services Division of MNAO. Through our collaboration with Mitchell, we can extend the Mazda experience to collision repair supporting customers at every stage of the vehicle lifec
Insurers Have Paid Nearly $1.7B Property, Auto Claims from Texas Winter Storm April 19, 2021
As of late March, Texas policyholders had filed 386,108 property and auto insurance claims related to the winter storm that blanketed the state in mid-February.
That number reflects preliminary results from a data call issued February 26 to property and auto insurers by the Texas Department of Insurance seeking information on claims stemming from the storm that impacted the state Feb. 11 – 19.
TDI has released a report, February 2021 Winter Storm Survey Data Industry Aggregate Results for Texas, that shows insurer-reported claims information as of March 26.
The report is based on data submitted by 85% of the state’s property insurance market and 94% of the auto insurance market. It shows insurers have paid out $1,673.9 billion on 186,982 combined residential property, commercial property and auto insurance claims.
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SAN DIEGO, March 9, 2021 /PRNewswire/ Mitchell, a leading provider of technology, connectivity and information solutions to the Property & Casualty (P&C) claims and Collision Repair industries, today released its first quarter Industry Trends Report for 2021. The report shares important data-driven trends impacting the property and casualty industry, along with expert insights, opinions and guidance that can help businesses navigate this year s new environment.
A year after the COVID crisis abruptly upended life around the world, workers everywhere are anxiously awaiting a return to normal. However, industry experts note the importance of understanding that our future normal may be very different, as changes in commuting, investments in virtual medical care, and the emergence of a hybrid workforce begin to take shape.
Winter Storm Uri Losses in Texas Expected in $10B – $20B Range March 1, 2021
It’s likely that insured losses in Texas from Winter Storm Uri, which overwhelmed the state in mid-February, will climb into the $10 billion to $20 billion range, according to catastrophe modelers and insurance industry market analysts.
Losses from Uri may be “somewhat comparable to those from Hurricane Harvey, which was a Category 4 hurricane that made landfall on Texas and Louisiana in August 2017,” according to S&P Global ratings. The market intelligence organization said in a Feb. 26 media release, however, that it was still “too early to accurately quantify the insured losses given the complexity of the event.”
Fleming Reinsurance Ltd. announced the creation of a custom reinsurance facility with BevCap P&C Protected Cell, Inc, with the facility aiming to provide “BevCap’s members the ability to eliminate seasoned risks by providing full economic and legal finality and on an annual basis.”
A spokesperson said, “The facility provides BevCap’s members the ability to eliminate seasoned risks by providing full economic and legal finality and on an annual basis. Within a single flexible structure, the facility provides for annual recurring novations under a clearly defined mechanism that provides certainty on pricing and transaction timing for group members. This facility will assume BevCap’s Workers Compensation, General Liability, Automobile Liability and Auto Physical Damage liabilities.