Auto Insurance

Ontario's financial regulator FSRA says it has found guaranteed asset protection (GAP) products sold by unlicensed businesses and individuals, some naming an insurer that never issued the policy and some marketed as loyalty programs, and warns that claims may not be honoured.

SIRA confirmed that New South Wales compulsory third party benefits were indexed from October 1, 2026, taking the maximum weekly statutory benefit to A$3,853 and the maximum non-economic loss damages to A$521,000, while the average Green Slip was A$536 in the year to June 2025 and the effect of the new indexation on premiums has not been quantified.

The New South Wales State Insurance Regulatory Authority imposed A$479,500 in civil penalties on Insurance Australia Limited, trading as NRMA Insurance, on October 22, 2026 for eight CTP premium pricing failures, the largest of which affected about 41,564 policies with estimated gross overcharges of about A$12.2 million.

Defaqto data show competitive UK motor premiums 2.7% higher in September than a year earlier, the first annual rise since 2023, while the ABI reports record quarterly claims payouts of £3.2 billion and an average premium of £566 in Q2 2026.

Since July 1, several accident benefits are optional in Ontario, and estimates put the saving from declining them all at roughly 5% of an average premium, while victims' advocates say the choice mainly helps insurers.

Progressive's second-quarter 2026 net premiums written rose 5% to $21.08 billion and net income reached $3.31 billion, but its June combined ratio worsened to 90.0 from 86.6 and June net income fell 31% to $779 million as policies in force reached 40.09 million.

EY's July 2026 analysis forecasts a UK motor net combined ratio of 108% in 2026 after 102% in 2025 and 98% in 2024, with a partial recovery to 103% in 2027 and premiums expected to rise 4% in 2026 and 12% in 2027 as insurers restore margins.

Governor Kathy Hochul announced on July 1, 2026 that the Department of Financial Services issued circular letter C3-2026-01 requiring motor vehicle insurers to reflect savings from the FY2027 budget's auto reforms, covering staged accidents, damages limits and the serious injury threshold, in all pending and future rate filings.

Zurich Australia and Mercedes-Benz Financial Services Australia announced on July 1, 2026 the Mercedes-Benz Elite Motor Insurance product for personal and commercial vehicles, issued by Zurich Australian Insurance Limited and sold through authorised Mercedes-Benz agents, with finance gap cover of up to an additional 30% and up to $10 million of liability cover for electric vehicles.

New York's budget, approved in late May 2026, clarifies the serious-injury threshold, caps non-economic damages for drivers engaged in criminal conduct, changes comparative negligence and targets staged accidents; State Farm's CEO wants proof before acting.

Admiral Group completed its acquisition of digital fleet insurer Flock, valuing its equity at £80 million; Flock becomes Admiral's telematics fleet offering under Admiral Pioneer, and a haulage fleet product has launched.

Two forecasts for 2026 differ in level but agree prices are flattening after the post-pandemic spike: The Zebra projects an average $2,256 with increases in 19 states, and Insurify forecasts a 1% rise to $2,158 with tariffs and repair costs as wildcards.

On April 20, 2026 the Michigan Supreme Court unanimously held that a trial court abused its discretion by reforming rather than rescinding a Progressive no-fault policy where the insured misstated where her cars were garaged.

Insurance Business (June 9, 2026) reports Oxbow Partners forecasting UK motor profit falling to £1.3 billion in 2026 and a combined ratio of 95%, while EY projects 111%, as premiums fell in 2025 and repair costs rise.

From July 1, 2026, most Ontario accident benefits become optional for all customers; FSRA's guidance says medical, rehabilitation and attendant care stay mandatory, existing policies renew unchanged until customers agree in writing.

USAA says it is paying a $500 million dividend to about 830,000 Florida auto members from June 15, 2026, with rate cuts averaging 14% and an earlier $160 million dividend, crediting Florida's tort reforms, in a broader effort that includes lower rates nationally.

S&P Global estimates Progressive passed State Farm as the largest US private auto insurer in the 12 months to March 2026 by more than $1.57 billion, but AM Best's 2025 ranking of all property and casualty lines still has State Farm first at $113.8 billion.

Insurify puts the average full-coverage premium at $2,237 a year at mid-2026, up 1% since the end of 2025, with Connecticut up 10% and 32 states expected to see year-over-year increases by December.