Accidents Down, Profits Up as Auto Insurers Cash-In on COVID

While the COVID-19 pandemic has meant a decrease in overall automobile traffic nationwide and an attendant decrease in car accidents, auto insurers are raking in record profits. This despite repeated calls from consumer advocates and some regulators to return a portion of the windfall to the very consumers who need it most — those not driving.

Auto crashes remain low according to new accident data published by the Consumer Federation of America (CFA) and the Center for Economic Justice (CEJ). The groups said that ongoing…