Latest Commercial Auto Headlines
All the headlines from our Commercial Auto Topic Page, ordered by recency.
Trial Begins for Limousine Firm Operator Over New York Crash That Killed 20 in 2018
May 3 2023 // Nearly five years after a stretch limousine packed with birthday revelers careened down a hill and off a road in rural upstate New York, killing 20 people, the operator of the company that rented out the vehicle is going...
Florida DA Orders Investigation After Homeowner Fires at Delivery Driver
Apr 25 2023 // A Florida prosecutor has ordered an investigation in a confrontation in which a homeowner fired shots into a couple’s car when they mistakenly turned onto his property while making a late-night grocery delivery....
Commercial Auto Insurtech Startup OpenEyes Emerges From Stealth
Feb 14 2023 // OpenEyes, an insurtech serving commercial automotive fleets, today emerged from stealth with $18 million in Series A funding led by global software investor Insight Partners and Pitango First, with participation by MoreVC,...
Insurance Pricing: True D&O Buyer’s Market; Stabilized Commercial Auto
Jan 10 2023 // Insurance brokerage USI is forecasting that half of 32 commercial insurance product lines analyzed will experience softer pricing in the first half of 2023—including a predicted “buyer’s market” for...
Michigan’s Ford Credit Company to Launch Commercial Vehicle Insurance
Dec 1 2022 // Michigan-based Ford Credit announced plans to launch Ford Pro Insure, a new commercial auto insurance product powered by Pie Insurance. “Ford Pro customers have come to expect a complete set of products and services...
Electric Air Taxi Company Archer Plans $118M Georgia Factory
Nov 23 2022 // A California company seeking to build small electric aircraft says it will invest $118 million to construct a plant near Atlanta, eventually hiring up to 1,000 people. Archer Aviation, based in Santa Clara, California,...
U.S. Proposes Rules to Advance Flying Taxi Operations
Nov 21 2022 // The U.S. Federal Aviation Administration (FAA) on Monday proposed new rules that would help pave the way for commercial air taxi operations by around the middle of the decade. Electric vertical takeoff and landing aircraft...
Ambac Acquires New Jersey Commercial Auto MGU and Marine Broker
Nov 9 2022 // Financial services holding company Ambac Financial Group, Inc. announced that it has acquired majority stakes in both All Trans Risk Solutions, LLC and Capacity Marine Corp, both of Mahwah, New Jersey. All Trans is a...
State Inspector Cites Regulatory Lapses in Fatal New York Limo Crash
Nov 1 2022 // New York regulators failed to do all they could to sideline a poorly maintained stretch limousine that careened down a hill and crashed in 2018, killing 20 people, according to a state watchdog. State Inspector General...
AM Best: Trouble Around the Bend for Commercial Auto Insurers After Good 2021?
Oct 12 2022 // For the first time in many years the commercial auto insurance segment enjoyed a combined ratio below 100 in 2021, but increased claim frequency and severity in 2022 point to a U-turn in financial results. According to AM...
Limit on Limousines’ Miles Is Among New York Safety Panel’s 16 Recommendations
Oct 5 2022 // A New York state task force created after a 2018 limo crash that killed 20 people issued a safety report with recommendations including equipping the vehicles with side impact protection devices and taking them off the...
Commercial Auto Insurtech Fairmatic Raises $42M
Aug 31 2022 // Insurtech Fairmatic, founded by Jonathan Matus, a former Android and Facebook mobile executive, announced a $42 million Series A funding round to further expand its investment in the performance-priced fleet insurance...
Paris Taxi Driver Files Legal Complaint Against Tesla After Fatal Crash
Mar 21 2022 // A Paris taxi driver whose Tesla Model 3 crashed in December, killing one person, has filed a legal complaint against the U.S. carmaker, his lawyer said on Sunday. The French government said in the days after the accident...
First Chicago Launches Commercial Auto Insurance Program in Illinois And Indiana
Mar 15 2022 // First Chicago Insurance Company announced it recently launched its augmented commercial auto insurance program in Illinois and Indiana. The program covers owned or leased Vehicles, hired autos, non-owned, temporary...
Taxi Driver Shot by Off-Duty Officer Settles With New York County for $2M
Mar 10 2022 // A cab driver who was wounded by an off-duty police officer in a 2011 road-rage shooting has settled his lawsuit against New York’s Nassau County for $2 million. Newsday reports that county legislative committees...
Social Inflation Increased Commercial Auto Claim Costs by $20B Over 10 Years
Mar 7 2022 // The insurance industry is ringing alarm bells about the cost of social inflation again, this time with the help of an actuarial analysis that concludes the phenomenon added more than $20 billion to the cost of commercial...
Actuaries: Social Inflation Increased Commercial Auto Claim Costs by $20B Over 10 Years
Feb 24 2022 // The insurance industry is ringing alarm bells about the cost of social inflation again, this time with the help of an actuarial analysis that concludes the phenomenon added more than $20 billion to the cost of commercial...
Insurance Technology: Betterview Features Defensible Space; Clara Analytics Tackles Commercial Auto; Ascend Raises $30M for Premium Finance
Feb 8 2022 // Betterview, an insurtech provider of property intelligence to property/casualty insurance companies, now has available what it calls its Defensible Space feature that enables insurers using the company’s Remote...
Commercial Auto Among Lines With Flattening Rates in 2022, USI Forecast Predicts
Feb 7 2022 // Although it wasn’t the headline of a commercial insurance broker’s market pricing report last month, the report’s observation that “commercial auto liability coverage rates are starting to...
New York Man Charged with Murdering Woman in Murder-for-Hire Scheme
Nov 18 2021 // A Queens, New York, man has been charged with murdering a woman for life insurance benefits. A superseding indictment was filed in federal court in Brooklyn charging Cory Martin with murder-for-hire and conspiracy to...
