Auto insurance companies in the US will offer about $10.5 billion in insurance premium rebates to their customers, the Insurance Information Institute (I.I.I.) reports.
I.I.I. said in a release that it based its findings on an analysis of 14 auto insurers operating in America who recently announced premium refunds, discounts, dividends, and credits totaling $8.1 billion. These insurers cited reduced policyholder mileage and the receipt of fewer claims resulting from the COVID-19 crisis as the reason why they are offering financial relief.
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