Safety Insurance Co. News

Safety Insurance Cites Q2 Combined Ratio, COVID Claim Court Win

Boston-based Safety Insurance touted a combined ratio of 92.1 and a win in a COVID-19 business interruption court case as highlights for its second quarter. However, second quarter net income was $7.9 million compared to $37.7 million for the comparable …

Safety Insurance Net Income Plummets as Auto Claims, Inflation Take Toll

Boston-based Safety Insurance Group, Inc. reported first quarter 2022 results showing net income of $7.8 million, compared to $36.2 million for the comparable 2021 period, as auto insurance claim frequency returned to pre-pandemic levels and inflation boosted repair costs. Direct …

Q4 Earnings Briefs: State Auto, National General, Donegal, Safety, Protective

State Auto Financial State Auto Financial Corp. (STFC) reported fourth-quarter net income of $32.7 million, after reporting a loss in the same period a year earlier. The Columbus, Ohio-based company said it had net income of 72 cents per share. …

Mass. AG Argues Mapfre, Safety Won Excessive Home Insurance Rate Hikes

Massachusetts Attorney General Maura Healey says two of the state’s largest homeowners’ insurance companies won excessive and unwarranted rate increases of about 9 percent by taking advantage of last winter’s record snowfall. The Boston Globe reports that Healey’s office found …

Massachusetts AG Announces $200K Settlement With Safety Insurance Co.

Auto insurer Safety Insurance Company agreed to pay more than $200,000 to settle allegations that it overcharged hundreds of inexperienced drivers by failing to reduce premiums as consumers gained additional years of driving experience. The settlement was announced Tuesday by …