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Insured shopping grew 10% during the quarter, while uninsured shopping saw negative trends in August and into September. (BLACKWHITEPAILYN/Shutterstock.com) Insured shopping grew 10% during the quarter, while uninsured shopping saw negative trends from August into September. (BLACKWHITEPAILYN/Shutterstock.com)

During the third quarter, auto insurance shopping and new business policy volumes increased, according to LexisNexis Risk Solutions’ Insurance Demand Meter. However, both slowed slightly in August as a result of CARES Act benefits ending as well as hurricanes and wildfires.

The quarterly growth rate averaged 6.1%, and Q3 2020 ended with gains of 7.6%. New business growth, which hit 5.7% during the quarter, was nearly twice that seen in the previous year and outperformed the five-year quarterly average, according to the Demand Meter.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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