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Message
I have now heard reports of layoffs in claims from 3 different auto insurance companies..
Posted on 9/24/20 at 1:34 pm
Posted on 9/24/20 at 1:34 pm
Are the plaintiff lawyers cutting staff as well or will enough do jail time to thin them out from the lower number of accidents?
11
Posted on 9/24/20 at 1:36 pm to Anaximander
The virus really hits home when insurance companies and lawyers start to be affected.
Posted on 9/24/20 at 1:42 pm to OysterPoBoy
We’re so fricked. About to be all out war on US land. It’s gonna be really bad soon
Posted on 9/24/20 at 1:53 pm to Anaximander
Our firm trimmed some staff during all of this.
Posted on 9/24/20 at 2:00 pm to Anaximander
Fewer people on the road = fewer car accidents. If there is no food, the rats don't eat.
Posted on 9/24/20 at 2:02 pm to Tiger Nation 84
quote:
We’re so fricked. About to be all out war on US land. It’s gonna be really bad soon
Did you Accidentally post in the wrong thread?
Posted on 9/24/20 at 2:07 pm to Anaximander
What will happen to auto insurance companies once autonomous cars become more prevalent and liability shifts from the driver to the manufacturers?
Good riddance.
Good riddance.
Posted on 9/24/20 at 2:07 pm to Anaximander
Second hand I have heard some of the car accident plaintiff firms that advertise non-stop have seen slow downs and have pared down staff. The lock down cut travel significantly and then tort reform may have an impact.
Posted on 9/24/20 at 2:07 pm to Anaximander
go go go auto!
Posted on 9/24/20 at 2:10 pm to xXLSUXx
quote:
What will happen to auto insurance companies once autonomous cars become more prevalent and liability shifts from the driver to the manufacturers? Good riddance.
No one is going to insure the actual vehicle?
quote:
Good riddance
Oh look, another person who doesn’t understand the concept of insurance
Posted on 9/24/20 at 2:12 pm to Anaximander
I heard of Allstate. What are the other two?
Posted on 9/24/20 at 2:13 pm to Anaximander
We know OP is a bastion of truth but how about a link?
Posted on 9/24/20 at 2:16 pm to theronswanson
quote:
I heard of Allstate.
There's an Allstate claims office near my house, and their parking lot has been empty since June. I figured they had switched to working from home(though I heard it was a call center, so maybe not). Wouldn't surprise me if they laid a bunch of folks off.
Posted on 9/24/20 at 2:19 pm to DCtiger1
So you don't think self driving cars will drastically change the auto insurance landscape?
Volvo to absorb liability in LIDAR equipped cars starting in 2022 for certain countries.
Volvo to absorb liability in LIDAR equipped cars starting in 2022 for certain countries.
Posted on 9/24/20 at 2:22 pm to xXLSUXx
Over time yes it will. But the insurance companies are already ahead of the game on new tech. They are in partnerships with the manufacturers. The liability just doesn’t go away. You’re talking at least 20 years away. Look at the number of cars on the road in the US.
Posted on 9/24/20 at 2:39 pm to The Spleen
Allstate laying off 4000 and shedding Ensurance. Did hear they bought a new company as well and will be consolidating staff with them. Nothing to do with tort reform though, seems to be more of a, we now see how much less we can get by with thanks to Covid.
This post was edited on 9/24/20 at 3:50 pm
Posted on 9/24/20 at 2:52 pm to Anaximander
Did you not see the unemployment report today? It’s not that great. Over 1.5 million people filed initial unemployment claims through regular and pandemic unemployment. There’s still over 30 million people receiving some kind of unemployment. It sucks.
Posted on 9/24/20 at 2:57 pm to boosiebadazz
quote:
Our firm trimmed some staff during all of this.
You mean you killed them like the other firm did to the runner who was indicted?
Posted on 9/24/20 at 3:01 pm to The Spleen
All of the adjusters at every major insurance company are working from home through at least the end of the year. Some until they are vaccinated. Many will never going to return and commercial real estate is going to take a big hit IMHO
Posted on 9/24/20 at 3:15 pm to Anaximander
I understand there aren't enough claims, but these auto insurance companies are making money hand over fist from all these premiums and no accident pay outs.
They're reimbursing some of the surplus as an act of good will to keep customers, but they aren't giving back all of their margin increase. They are killing it.
I feel like they could keep the claims folks on board at 75% pay until the driving volume returns to normal somewhat.
They're reimbursing some of the surplus as an act of good will to keep customers, but they aren't giving back all of their margin increase. They are killing it.
I feel like they could keep the claims folks on board at 75% pay until the driving volume returns to normal somewhat.
This post was edited on 9/24/20 at 3:17 pm
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