Faulty Hood Latch Prompts Third Recall For Nissan Altima
Posted on Jan 29, 2016 in Industry News | Comments Off on Faulty Hood Latch Prompts Third Recall For Nissan Altima
After two previous recalls regarding the same problem, Nissan North America Inc. launched a third recall of approximately 850,000 Altimas due to a faulty hood latch that causes the hood to open while driving. The recall is being led by the National Highway Traffic and Safety Administration (NHTSA), and the latest recall brings the number of potentially affected cars to more than 1...
Price Optimization Remains Key Focus of Regulators
Posted on Jan 27, 2016 in Insurance Regulation | Comments Off on Price Optimization Remains Key Focus of Regulators
2015 was an active year for price optimization among regulators, as nearly one-third of states issued guidance to P&C insurers on the practice. (Within the last two months alone, Connecticut, Missouri, and Alaska have issued bulletins on price optimization.) The National Association of Insurance Commissioners (NAIC) also approved a highly anticipated white paper on price...
New York Parts Bill Redux
Posted on Jan 26, 2016 in Industry News, Insurance Regulation | Comments Off on New York Parts Bill Redux
An old bill that aims to alter collision parts replacement laws in New York has been revived in the State Assembly. The proposed law requires vehicle owners to provide a signed consent form that describes the replacement parts to be used in the repairs. The bill also mandates that repair shops use only original equipment manufacturer (OEM) parts on vehicles during their first years of...
2015 – A Record Year For Auto Recalls
Posted on Jan 25, 2016 in Industry News | Comments Off on 2015 – A Record Year For Auto Recalls
The National Highway Traffic Safety Administration has reported that automakers recalled 51.3 million vehicles in 2015. This marks the second highest yearly number of recalls in the United States, trailing only 2014 when a reported 63.9 million vehicles were recalled. The NHTSA has recently responded to criticism on its handling of auto safety issues by implementing several...
JAPAN INVESTS IN AUTONOMOUS CARS TO AID AGING POPULATION
Posted on Jan 22, 2016 in Technology Impacting Auto Insurance | Comments Off on JAPAN INVESTS IN AUTONOMOUS CARS TO AID AGING POPULATION
Japan has announced heavy investment in autonomous cars in recent years as a means to address concerns presented by its aging population. The Japanese government has allocated 2 billion yen ($16.3 million) a year to develop maps and other technologies in a push to roll out fully automated driving by 2020, when Tokyo hosts the Olympics. Japan’s investment in autonomous vehicles is in...
