Progressive News

Progressive Insurance Marketing Chief Charney to Retire in 2022

Progressive Insurance reported that Jeff Charney will retire as chief marketing officer, a position he has held since 2010. Charney’s expected retirement date is January 2022. The company said the early announcement of Charney’s retirement was made to allow for …

Nevada Lawsuits Filed Against Auto Insurers over Rates in Pandemic

Class action lawsuits were filed in Nevada against 10 major auto insurance companies this week, contending that the companies charged excessive insurance premiums during the pandemic by failing to account for a drop in driving and crashes. The lawsuits acknowledge …

Progressive to Buy Transportation Insurer Protective for $338 Million

The Progressive Corp. is acquiring Indiana-based trucking industry insurer Protective Insurance Corp. in a move that will increase its stake in the commercial lines insurance market. Progressive has agreed to pay $23.30 per share in cash, for a total transaction …

Progressive Integrates Home Insurance Quoting Into Mortgage Lending Program

Progressive Insurance is serving home buyers in the digital mortgage process and using information they’ve already entered for their loans to serve up homeowners’ insurance quotes with a single click. Working with mobile-first digital mortgage software company StreamLoan, the insurer …

Progressive Enters Voluntary Market with Expanded Pet Health Insurance Product

Progressive will enter the voluntary benefits market through a relationship with Pets Best, which is part of Care Credit, a Synchrony product. Progressive Pet Insurance by Pets Best will be available to all U.S. companies looking to add pet insurance …

Progressive Q1 Results Reflect ‘Significant Impact’ from Coronavirus, Restrictions

The Progressive Corp. said its results for the first quarter were “significantly impacted” by the spread of the coronavirus and social distancing and shelter-in-place restrictions. Despite a 30% increase in underwriting income, Progressive’s consolidated net income —$692.7 million— is a …

Progressive Gives $2M to Big ‘I’ Fund to Aid Agencies Affected by Coronavirus Crisis

Progressive Insurance has donated $2 million to establish the Trusted Choice COVID-19 Relief Fund in response to the economic and operational challenges the coronavirus crisis has presented to independent agencies. The grant will be dispersed directly to independent agencies via …

Progressive, Travelers, USAA Latest to Offer Insureds Discounts, Other Accommodations

More insurers are coming forward every day with discounts, extended coverage and relaxed payment terms for insureds affected by shelter-in-place and other conditions required during the coronavirus crisis. Progressive Insurance announced it is providing approximately $1 billion to its drivers …

Progressive Continues Hiring Drive, Looking for 8,000 New Employees Across Country

Insurer Progressive said it intends to hire up to 8,000 new employees in 2020. With an increase in customers and total revenues topping $39 billion, the company said it needs more employees to support continued growth in auto, property, commercial …

Profit Lessons in Commercial Auto, Workers Comp and Other Business

Progressive has a competitive edge over long-term players in the commercial auto insurance market and national carriers outpace regionals on workers compensation profit measures, according to a new report from Guy Carpenter. “Competition and change are the only certainties” for …