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An increase in premiums and strong investment returns for Progressive mostly blunted the impact of rising damage estimates from Superstorm Sandy, according to the insurer’s report on its fourth-quarter...Read More »
In the industry’s first large business acquisition this year, American Family Insurance (AFI) recently announced the finalization of a multi-million dollar purchase of Permanent General Companies,...Read More »
GEICO is facing a federal lawsuit claiming the insurer sold uninsured/underinsured motorist (UM/UIM) coverage with lowered limits without getting the required consent of policyholders. The class-action...Read More »
Progressive formally announced a future licensing program for its usage-based insurance (UBI) technology last week, shedding light on how the insurer plans to share for a fee what it says are its intellectual...Read More »
Progressive reported a $47 million—or 37 percent—drop in November profits compared with the same month last year, dragged down by higher claim sizes than were originally predicted from Superstorm...Read More »
Progressive publicized its most recent patent for its usage-based insurance (UBI) program, called Snapshot, saying on Tuesday that the patent covers rights to technology that includes an in-vehicle...Read More »
The latest estimates from the Insurance Services Office (ISO) put the number of vehicles damaged by Superstorm Sandy at 230,000, with the vast majority of those cars in New York and New Jersey. The...Read More »
Progressive’s first month following a huge quarter showed continued growth, with the insurer reporting tens of millions of dollars’ worth of losses from Superstorm Sandy that didn’t...Read More »
White Mountains Insurance Group says in its latest quarterly report that it is disputing about $20 million in its sale of Esurance and Answer Financial in an ongoing court case the insurance...Read More »