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...Further reading: — What’s going on with US car insurance? — Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
...The company’s Geico auto-insurer, which had struggled to cope with payouts on claims for much of the past two years, showed improvement....
...“They’ve really been pushing $40 [an hour] and free health insurance.”...
...Robinson and other experts have likened the probe to the payment protection insurance scandal, which dates back to the 1990s when banks mis-sold insurance to millions of customers, leading banks to later...
...The gains were fuelled by strong results from Berkshire’s insurance unit, including at Geico, as well as higher interest rates....
...The attorney-general’s lawyers further claimed Knight Insurance sent “100 per cent of its retained insurance risk to affiliates in the Cayman Islands”, where “lax regulations” allowed the company to bolster...
...Insurance also operates on rolling contracts. Right now, auto insurers are perhaps pushing up premiums to make up for higher post-pandemic costs. Both should settle, but it will require patience....
...Don Hankey, a Los Angeles-based subprime auto loan billionaire, has said two of his biggest early-career mistakes were to only do business with honest people and to trust his gut to pick those people out...
...Second, auto-insurance prices — our favourite CPI component from the past year! — has also been more muted in the PCE, the Fed’s preferred inflation gauge....
...Besides credit card debts, Blackstone has picked up home improvement loans, auto loans and loans financing rooftop solar power....
...Within that total are consumer and auto loans, student debt, equipment finance and even more newfangled products such as music royalties. Banks will not be completely displaced....
...Auto insurers have rapidly boosted prices for electric vehicle cover in the past year, much more than for fossil fuel cars....
...Auto-insurance businesses are still losing money. And a run of unusually destructive bad weather has brought additional losses for their property-insurance businesses....
...Late last year, the Federal Deposit Insurance Corporation proposed requiring banks to disclose more data on what types of shadow banks they are lending to....
...The PPI scandal dates back to the 1990s when banks mis-sold a type of insurance product to millions of customers....
...this week when his company Knight Insurance agreed to underwrite the former president’s more palatable, reduced $175mn bond....
...Among the bigger companies are Copart and Insurance Auto Auctions, which auction off junked cars; LKQ, which sells salvaged parts to repair shops and retail customers; and Boyd Group Services, which buys...
...Geico reported a second consecutive quarter of underwriting profits, following more than a year of losses....
...In her recent opinion piece in the Financial Times, Sheila Bair, the former chair of the US Federal Deposit Insurance Corporation, who is now a senior adviser to the Systemic Risk Council, argues that “derivatives...
...The Omaha native helped transform the company, once a struggling textile maker, into an industrials and insurance behemoth....
...Still, this downgrade comes as US insurance-underwriting losses spread from the troubled auto-insurance businesses — where insurers are slowly getting their rates higher — and into homeowners’ policies....
...Local officials also said they would introduce services to support car exporters, including improving export insurance, speeding up tax refunds and encouraging Chinese banks to provide consumer financing...
...Investors were buoyed by the fact that Geico, the company’s auto insurance unit, posted a second consecutive quarterly profit after more than a year of losses....
...Meanwhile, car insurance and auto repair shot up 2 per cent and 3 per cent, respectively, in March....
...There were, he said, few deals that offered the kind of transformative impact past takeovers have had, such as its purchases of insurers Geico and National Indemnity or the BNSF railroad....
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