Two legislative bills that would change the way that vehicle total losses are disclosed to the public have earned the support of the Society of Collision Repair Specialists (SCRS). 

DRC Inc. and the state of Louisiana Department of Environmental Quality (DEQ) have begun a significant remediation of approximately 10,000 automobiles and other vessels that were irreparably damaged by Hurricane Katrina.

The designs of seats and head restraints in 21 current SUV, pickup, and minivan models are rated good for protecting people in rear impacts, but those in 54 other models are rated marginal or poor. Another 12 are rated acceptable. The latest evaluations of occupant protection in rear-end collisions by the Insurance Institute for Highway Safety (the Institute) found that the seat/head restraints in more than half of light truck and minivan models fall short of state-of-the-art protection from neck injury or whiplash.

Keystone Automotive Industries, Inc. (Nasdaq:KEYS) has signed a definitive merger agreement with LKQ Corporation (Nasdaq:LKQX) in which LKQ will acquire Keystone for $48 per share in cash, representing an aggregate purchase price of approximately $811 million on a fully diluted basis. The merger is expected to close early in the fourth quarter of calendar 2007, subject to the approval of Keystone’s shareholders, regulatory approvals and other customary conditions. The merger agreement does not contain a financing contingency.
Farmers Insurance Group, auto and home insurer, has just gotten bigger by announcing the completion of its acquisition of non-standard auto insurer, Bristol West Holdings, Inc.
Tuesday, 31 July 2007 17:00

DOI thwarts skewed labor rate surveys

In what the Collision Repair Association of California (CRA) calls “a major win for repairers, the Department of Insurance has put in writing conditions intended to prevent insurers from using skewed labor rates surveys to underpay the cost of collision repairs. Specifically, Gary Cohen, former DOI general counsel at the time, in a June 2007 letter to Gene Crozat, owner of G&C Autobody and president of CRA, held that an insurer survey, regardless of how it is conducted, “does not create the presumption that these surveys accurately reflect the prevailing rates charged by auto body repair shops in a specific geographic area.”