Twitter You Tube Facebook Autobodynews Linked In

In a move that some insurers believe could prove detrimental to Louisiana consumers and insurers, the Louisiana legislature narrowly passed a bill that would require all vehicles determined to be "total" losses as a result of recent flooding to be crushed. 

Steve Poizner took the Oath of Office on January 8 and became California’s new Insurance Commissioner with 52 percent of the vote. In his inauguration speech, Poizner committed to running the Department of Insurance in a “non-partisan manner, independent and citizen-focused.”

Active ImageThe Collision Repair Association of California (CRA) has appointed Richard Steffen as deputy director of legislative affairs. With 28 years of experience in state government behind him, Steffen is armed with a multi-level campaign to aid CRA in the fight for fairness among auto body professionals.  The first order of business is to strike a working dialogue with the regulator, the insurance commissioner, the BAR,  the attorney general and the insurance industry, Steffen said. He added that there are a number of fronts to adjust public policy.

Insurance Commissioner John Garamendi recommended a 15.3% decrease in the state's workers' compensation pure premium rates, his fourth consecutive decrease and an amount that brings his cumulative recommended cuts to 46.2 percent. 

Wednesday, 30 November 2005 17:00

CCC signs acquisition agreement with Investcorp

CCC Information Services Group Inc., a leading supplier of advanced software, communications systems, Internet and wireless-enabled technology solutions to the automotive claims and collision repair industries, has signed a definitive agreement to be acquired by an affiliate of Investcorp, the global investment group. Under the terms of the agreement, CCC stockholders will receive $26.50 in cash for each share of CCC common stock, representing a 10.3% premium over the average closing price of CCC's stock for the last 90 trading days. The fully diluted equity value of the transaction is approximately $495 million. 

Wednesday, 30 November 2005 17:00

Shop owners complain to state senate panel

In spite of the fact that California passed SB 551, a statute that was designed to stop steering in the state, several autobody shop owners showed up to testify about their continuing problems with steering at the Senate Banking, Finance and Insurance Committee Oversight hearing on November 23.