auto insurer News

Buffett Deputy Combs to Lead Geico While Running Portfolio

When he’s not managing a $14 billion stock portfolio for Warren Buffett, Todd Combs will now also be running the second-biggest U.S. auto insurer. Berkshire Hathaway Inc. tapped one of its two key investing deputies to replace Bill Roberts as …

Fla. Supreme Court Rules Collector Car Policy Must Include Uninsured Motorist Coverage

Specialty insurance products sold to classic car collectors must include coverage for damages caused by uninsured motorists — even if the owner is driving a vehicle not covered by the policy, the Florida Supreme Court ruled. All five justices who …

Allstate’s Profits Slide as Auto Claims Rise

Allstate Corp., the largest publicly traded U.S. car and home insurer, said third-quarter profit slipped 17 percent as claims rose and policy growth slowed in the automobile-coverage business. Net income decreased to $650 million, or $1.54 a share, from $781 …

Progressive Hiring 1100 People Across the U.S.

Ohio-based Progressive Insurance Company is set to hire more than 1100 employees at five locations throughout the United States. Helping to boost the economy, Progressive car insurance expects to fill positions in the following states: Austin, Texas – 185 positions …

Insurer Must Cover Florida Rental Car Crash

A Florida rental car customer’s auto insurer must cover crash injuries, even though the driver was someone not authorized under the rental car company’s contact. In a 5-2 opinion on Nov. 23, the Florida Supreme Court overturned a district court …

Auto Insurers’ Loss Ratios Rise in Q2: SNL Insurance

Tornadoes and thunderstorms in the South and Midwest made the 2011 second quarter tumultuous for U.S. property writers. The industry loss ratio, before consideration of reinsurance, climbed to 70.6 percent, marking the industry’s second worst performance since 2001 and far …