Court Says Bulk of GEICO’s $2.3 Million Fraud Case Belongs in Arbitration January 5, 2024 Insurer GEICO has been dealt a setback in its efforts to get back $2.3 million in what it alleges were...
GEICO Lays Off 6% of Workforce and Will Require More In-Office Time October 20, 2023 By Chad Hemenway and William Rabb In a letter to employees, GEICO president and chief executive officer Todd Combs said the Berkshire Hathaway company is laying...
Rate Hikes Not Bringing Profit to US Auto Insurers: Fitch August 18, 2023 By Susanne Sclafane Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers,...
GEICO to Pay $805K to Settle Overtime Wage Disputes With Claims Adjusters June 30, 2023 Insurer GEICO has agreed to pay $805,000 total to settle class action lawsuits by claims adjusters alleging they were entitled...
GEICO Suit Alleges $1.8M in Fraudulent Billings by New Jersey Healthcare Providers June 30, 2023 Insurer GEICO is suing to recover more than $1.8 million in allegedly fraudulent and unlawful no-fault insurance charges it says...
5th Circuit Clears Texas Class-Action Suit Against GEICO May 19, 2023 GEICO must defend itself against a class-action lawsuit that alleges it failed to include the cost of sales taxes and...
Berkshire’s Jain on GEICO Profit: ‘Don’t Take It to the Bank’ May 8, 2023 By Susanne Sclafane Even though Berkshire Hathaway’s GEICO achieved a 93 first-quarter combined ratio, an enviable result measured against industry peers, the leader...
Warren Buffett Predicts Earnings Decline at Berkshire Units May 8, 2023 By Max Reyes Warren Buffett, whose economic insights are craved for Berkshire Hathaway Inc.’s deep ties to the American economy, had a gloomy...
Washington Man Pleads Guilty to Filing False Auto Insurance Claim April 3, 2023 A Kirkland, Washington man pled guilty to committing insurance fraud after an investigation by Insurance Commissioner Mike Kreidler’s Criminal Investigations...
Geico Faces Class Action for Allegedly Underpaying Auto Claims March 28, 2023 By Andrew G. Simpson Geico General Insurance Co. must face a class action suit alleging that it has been underpaying benefits to its insureds...