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: National combined average premiums increased by roughly 14.4% between 2022 and 2023. By the end of 2024, industry-wide rates had surged by 35% compared to January 2022. auto*insur

: Specialized systems like LexisNexis ALIRtS help carriers automate mandatory liability reporting to state DMVs to keep up with shifting regulations. AI responses may include mistakes

Changes in vehicle technology and driver habits are fundamentally altering risk profiles. By the end of 2024, industry-wide rates had

: The volume of insured Electric Vehicles (EVs) grew by 40% in 2023. These vehicles present unique challenges for insurers regarding repair costs and battery risks.

Carriers must comply with evolving state and national mandates.

: Insurers are using these rate hikes to address "profitability issues". In 2022, national liability incurred losses reached $120.5 billion, a 9.4% year-over-year increase.