Progressive Corp. News

Chubb Estimates Q2 Cat Losses to Rise 54% from Q1 2016

Property and casualty insurer Chubb Ltd. estimated natural catastrophe losses for the second quarter to be about 54 percent higher than the first quarter, indicating another quarter of high losses due to natural disasters for insurers. Multiple weather events in …

Top Vehicle Claims Trends from 2014

The top five states in which a person was most likely to file an auto claim last year were all on the East Coast. December had the lowest volume of all vehicle claims of any month. Those facts are just …

Progressive Reports 20% Profit Gain in Q4

Progressive Corp., the fourth- largest U.S. auto insurer, said profit climbed 20 percent in the fourth quarter as margins improved a year after Superstorm Sandy. Fourth-quarter net income rose to $299.8 million, or 50 cents a share, from $249.1 million, …

Progressive Names CEO Renwick as Chairman

Ohio-based Progressive Corp. has named President and CEO Glenn M. Renwick to the additional role of chairman following the death of previous chairman Peter Lewis. The insurer also said that board member Stephen Hardis has been elected lead independent director. …

Researchers Question Privacy of Usage-Based Auto Insurance

A study by a handful of university professors in Colorado claims user-based insurance tracking programs installed in millions of vehicles can collect data that shows where drivers are going, unbeknownst to most users of the technology. Professors from the University …

Progressive Data Shows 30% Rise in Single-Vehicle Claims on New Year’s Day

According to data from Progressive Insurance, single-vehicle claims were up 30 percent on New Year’s Day 2012, when compared to the same day of the week two weeks prior to and after New Year’s Day. The total number of claims …

Sandy Claims Continue to Pour In at Quick Pace

Insurers said Sandy-related claims have been pouring in at a rapid pace in the immediate days after the storm — and that as some sense of normalcy returns, many more claims are expected. The Progressive Corp. CEO Glenn Renwick said …

N.Y. Auto Repair Shop’s Lawsuit Against Progressive Allowed to Proceed

A New York-based auto body shop has been allowed to move forward with its lawsuit that accuses Progressive Insurance Group Company and its affiliates of deceptive acts and practices. The ruling last week by the Appellate Division of the Supreme …

Consumer Perception of Progressive at Lowest Level in 4 Years: YouGov

Progressive Insurance’s mid-August social media-driven controversy has brought the company to its lowest U.S. consumer perception level in more than four years, a research firm said this week. The consumer perception was measured by YouGov, an international internet-based market research …

Low-Cost Online Commercial Lines Quoting Tool for P/C Agents Launched

The launch of a real-time commercial lines rater that gives agents access to a handful of large carriers was announced today by a division of Networked Insurance Agents. MyNTrack, a division of Grass Valley, Calif.-based Networked, integrates with the technology …