A five year investigation resulted in a charge of 4 felonies for a Detroit PD officer who was connected with an auto fraud ring that allegedly defrauded insurance companies.

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Click here for the story.

The police near the border in San Diego county have been requiring owners to report stolen vehicles in person over the last six months.  The result….. an 11% decrease in auto theft reports. 

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Click here to find out why.

In a news release yesterday, Copart announced a fourth facility in Louisville, KY.

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Click here for info.

	CURRENT BILL STATUS

MEASURE	:  S.B. No. 1371
AUTHOR(S)	:  Correa.
TOPIC	:  Insurance: automobile repair capping.
+LAST AMENDED DATE  :  06/26/2008

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

LAST HIST. ACT. DATE:  09/17/2008
LAST HIST. ACTION   :  Enrolled.  To Governor at   1 p.m.
COMM. LOCATION	:  ASM INSURANCE
COMM. ACTION DATE   :  06/25/2008
COMM. ACTION	:  Amend, and do pass as amended and be re-referred to the
	Committee on Appropriations with the recommendation:  To
	Consent Calendar.
COMM. VOTE SUMMARY  :  Ayes:   10	Noes: 00	PASS

TITLE	:  An act to add Section 758.6 to the Insurance Code,
	relating to insurance.

It was announced yesterday that the final sale of Safeco to Liberty Mutual will conclude at the end of trading on September 22nd,2008. At that time Safeco will be delisted from the stock exchange and the deal will be complete.

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The California AB 2825 is now on the way to the Governor according to an update from the state of California. 

Click here for the link.

The U.S. Government has tabbed former Allstate CEO Edward Liddy to run AIG. 

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Click here for more.

We have documented the progress of this California assembly bill throughout the year. The CRA of California has now asked the Governor to veto the bill. 

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Click here for the release.

The average severity on auto damage claims as shown with the blue bars on the graph show a slight downward trend over the last 20 months with an increase in “repairable” vehicles as shown by the yellow graph. This graph shows from February 2007 to present.

Data source:  © 2008, AutoClaims Direct, DirectLink

In another rescue by the U.S. Government, AIG has been bailed out. Reportedly the government will now have a 80% stake. If AIG collapsed, the company would not have been able to pay it’s claims.

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Click here for the news.