Basing a business on insurance work is a guarantee to failure. Insurance companies are out to look after their own interests.
Poorly managed panel shops rely on them for turn over and a work flow, all the time lowering standards to meet the pathetic insurance rates.

That writing has been on the wall for over 20 years (probably more).

It is now happening with wrecking/auto dismantlers. Insurance companies are now buying them up and supplying themselves from their own yards.
Overflow goes to what's left of the independents who will also dry up if they don't change tact and stop relying on old outdated business practices.