Representatives from the Chicago Automotive Glass Group (CAGG) and National Automotive Glass Specifications (NAGS) updated attendees at the NGA Auto Glass Conference on the current pricing situation.
Wes Topping, representing CAGG, which was formed to offer an alternative pricing structure to NAGS, explained that partial funding has been raised for the test of the figures, which the group has developed in cooperation with accounting firm Grant Thorton. The templates for distributors and retailers have been developed, the companies selected and polled, and the results are expected in the middle of June.
After the test results come back, they will be presented to the industry and to insurance companies for feedback. Topping estimated that three or four big insurance companies would be approached in September or October, three or four months after the results come in, for their input.
When all this data has been collected, he said that CAGG would take it to NAGS and ask them to publish it. "If they will publish the information, that will be the easiest solution," he told attendees.
Jesse Herrera pointed out that there would be a certain redundancy in his NAGS presentation from the one made in February to the Independent Glass Association (IGA) at its meeting in Florida.
He went through the rebalancing which took place February 28, and said that it has achieved its objective of getting pricing back on a realistic track but that it would take time for the market pricing to completely settle.
Herrera said that his company, "all along has been open to publishing the data from the Chicago Group." He added, "As a publisher we would evaluate the information and see if it would improve our product and if we have confidence in it, we would publish it."
That update was the end of the 2005 Auto Glass Conference. Next year's event is scheduled for May 17 to 19 in Tucson, Ariz.
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