Commissions are more certain than insurance losses. Those were not exactly the words that a Progressive executive used when he described the work the insurer has been doing to help customers meet all their insurance needs—sometimes through the policies of …
The Michigan Court of Appeals ruled last week that state law permits the parent of a minor to elect lower than default liability limits for their child’s auto insurance coverage. A three-judge panel unanimously affirmed a trial court’s decision that …
Progressive Corp. posted significant improvement in third quarter earnings late last week – with net income of $1.12 billion compared to $124.1 million a year ago during the same period. Progressive gave a snapshot of it’s Q3 earnings in announcing …
Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market players. Profitability challenges in the …
The Texas market for auto and homeowners insurance grew double digits in 2022, according to an annual report put out by the Texas Department of Insurance. Texas insurers reported direct premium written for private passenger auto of $26.3 billion in …
Tesla Inc.’s electric vehicles are expensive to repair – so much so that the automaker and insurers are addressing the issue in sharply different ways. Chief Executive Elon Musk says Tesla is making design and software changes to its vehicles …
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 …
