A.M. Best has lowered the financial strength rating of the Progressive Casualty Pool to A+ from A++, reflecting the group’s downturn in its operating earnings, intense price competition in its predominant personal automobile line, increased loss reserve risk and the expectation of modest operating returns. Progressive continues to operate with above-average operating leverage and capital strength that falls below A.M. Best’s capitalization standards for a Superior rating.
Was this article valuable?
Here are more articles you may enjoy.
Insurers Hike Rates as Extreme Storms Like Beryl Proliferate 
Beryl’s Remnants Spawned 4 Indiana Tornadoes, Including an EF-3: NWS 
Man Admits to Tracking Drivers, Programming Keys, Stealing and Reselling Vehicles 
Hurricane Beryl: Insurers See Minimal Impact, Brace for Active Season From This Issue
