The Progressive Corp. said Dec. 21 that its loss and allocated loss adjustment expenses (ALAE) in the property business are estimated to be $1 billion from, prior to reinsurance, from Hurricane Ian. The insurer said this reflects favorable development of …
Attorney General Bob Ferguson announced that a Thurston County Superior Court judge rejected an attempt by PEMCO Mutual Insurance Company and subsidiaries of the Progressive Corporation to stop his office’s investigation of potential race discrimination against Washington drivers. The companies …
Progressive’s Flo won’t reappear on TV screens in every state, but the insurer she pitches for is comfortable pursuing business growth, company leaders said yesterday. That means potentially using more advertising to lure auto insurance shoppers who are looking to …
Insurer Progressive incurred nearly $2.0 billion in gross loss and loss adjustment expenses for vehicle and property claims related to Hurricane Ian, sending over $1 billion of the total to reinsurers, the company reported Thursday. In an earnings announcement disclosing …
Progressive offered a rare look inside their strategic playbook in a recent second quarter earnings report. Describing the firm’s market share in key customer segments, the report highlighted one group as its most significant growth opportunity. They are called the …
With an overall combined ratio in excess of 100 for the first time since 2017, private passenger auto joined homeowners in unprofitable territory last year, prompting carriers to respond with pricing and underwriting actions. But improvement in the auto line …
When Warren Buffett told Berkshire Hathaway investors that State Farm continues to dominate the large auto insurance carrier landscape during this year’s annual meeting, he was referring to scale rather than customer satisfaction scores. But State Farm wins on that …
Progressive Corp. said Friday it recorded a loss of about $543 million for the second quarter 2022 and a loss of $436.7 million in June. Pretax loss on securities in Q2 were about $1.18 billion – $564 million in June. …
Vincent Labarbera, of Vancouver, Wash., has been added to Insurance Commissioner Mike Kreidler’s most wanted after he failed to appear in Clark County Superior Court to face felony charges of filing a false insurance claim and attempted first degree theft. …
There wasn’t a lot of talk about auto insurance at this year’s annual meeting of Berkshire Hathaway, but when the subject came up, Warren Buffett acknowledged the continued dominance of one competitor—a mutual insurer. “The largest auto insurance company in …
