A task force in Tarrant County, Texas is out to nab those who cause those annoying auto claims where owners have their expensive wheels stolen. An interesting story shows how law enforcement is cracking down on these types of thefts. 

****

Click Here for the story.

We did an article recently on the rise of catalytic converter thefts. In this link an auto body shop had six stolen during a break in.

Click here for the story.

LKQ Corp who is one of the largest used auto parts suppliers to the insurance industry appears to have acquired Pick-Your Part Auto Wrecking. The purchase will be for 72.9 million.

************

Click here for the story.

It appears tough times have come to some auto dealerships and their associated repair facilities. Some recent articles we found attest to the woes….

——-

Article 1

Article 2

Article 3

x

x

x

BILL NUMBER  : A.B. No. 2825
AUTHOR	: Carter
TOPIC	: Automotive repair: crash parts.

TYPE OF BILL :
                Active
                Non-Urgency
                Non-Appropriations
                Majority Vote Required
                State-Mandated Local Program
                Fiscal
                Non-Tax Levy

BILL HISTORY
2008
Aug. 14	In Assembly.  Concurrence in Senate amendments pending.  May be
	considered on or after August  16 pursuant to Assembly Rule 77.
Aug. 14	Read third time, passed, and to Assembly.  

(Ayes 24. Noes 13.)

The Rhode Island Superior Court entered a ruling that would require all auto insurance carriers in Rhode Island to conduct labor rate surveys as the only method to come up with prevailing rates. 

Click here for more info.

In an article we found it appears that Phoenix is seeing an upward spike in auto repair. Owners are holding onto their current vehicles longer due to tough economic times.

——————-

Click here for the article.

——————-

On a side note we thought it would interesting to pull some data on the current mileage and age of vehicles involved in losses over the past few months. In a sampling of 10,000 claims done over the summer months, data shows vehicles with the highest mileage are coming in at the 1990 to 1995 year range.

Data source:  © 2008, AutoClaims Direct, DirectLink

The new numbers are in for the Consumer Price Index.  In a head to head comparison of Car Insurance rates and Auto Body repair, the graph trending shows an uptick continuing in the cost of both.  This graph we included shows all of 2007 up to July 2008.

—

Source: U.S. Bureau of Labor Statistics. Aug 14, 2008

How many times do auto claims involve a vehicle crashing into someone’s property (ie. garage, landscape, or fence). Our analysts ran the numbers and we found out the following for 2008 thus far.

A.     15 out of every 1000 claims resulted in a fixed property loss. ( 1.5 out of every 100 claims).

B.      The average severity of fixed property losses is currently $2921.27.  While the extent and type of every fixed property claim can vary greatly, the overall severity figure can assist help claims executives in reserve allocation planning.

Data source:  © 2008, AutoClaims Direct, DirectLink

I’ve seen it lately and you might have as well…. Scooters are popping up seemingly everywhere. According to manufacturers, sales are up 24%. Many can’t keep pace with demand. People who you would never think are hopping on Vespas and other moped type vehicles in an effort to save money on gas. In a recent article quoting studies from the NHTSA, in 2006 Motorcycle related deaths nearly doubled. Even locally in the southern California region, accidents involving scooters are increasing including a recent death in which a rider lost control and hit a telephone pole. Many people who aren’t used to riding motorcycles, scooters and even bicycles don’t realize that that balance and awareness are essential. Riding can be much more physically demanding than sitting in an automobile. With the recent growth in motorcycle and scooter sales are insurers in for more severe injury claims? We hope not. For those riding out there, be safe and take good precautions. 

Here’s an article regarding the growth in Scooter use and the dangers.