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Mitchell International projects that the gap will eventually narrow, but is unlikely to close completely.
The plaintiff's attorneys said the award is part of a trend of juries across the state becoming increasingly open to awarding sizable verdicts.
The latest insurance industry personnel news from atNorth, INSTANDA, Burns & Wilcox and more.
Carriers should ensure AI tools are accurate and produce reliable results to avoid potential lawsuits.
EVs tend to be designated 'non-drivable' less often than ICE vehicles, Mitchell reports.
Insurance technology news from Nationwide, Steadily, Hourly and more.
The plaintiff claimed they relied on the broker's expertise when purchasing insurance and believed they were fully covered.
The class action suit alleges the insurer 'thumbed the scale' when setting the actual cash value of vehicles deemed a total loss.
Insurance technology news from PCF Insurance Services, Socotra, AFCO Credit Corp. and more.
The share of EVs in the global car market is expected to reach 18% in 2023, up from 4% in 2020.
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