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 …
GEICO must defend itself against a class-action lawsuit that alleges it failed to include the cost of sales taxes and purchasing fees when it paid total loss auto collision claims in Texas, depriving policyholders of actual cash value. A panel …
Geico General Insurance Co. must face a class action suit alleging that it has been underpaying benefits to its insureds injured in automobile accidents. U.S. District Court Judge Dora L. Irizarry in federal court in Eastern New York has certified …
A licensed insurance agent, and the insurer she represents, owe a duty of care to a customer to explain coverages but neither the agent nor the insurer has a fiduciary duty to an insured under Connecticut law. U.S. District Judge …
The Missouri Supreme Court threw out a $5.2 million arbitration award to a woman who contracted a venereal disease while having sex with her boyfriend in his car and sought coverage for her “bodily injury” from the boyfriend’s auto insurer. …
Verisk, Vexcel Partner to Collect Aerial Images After Ian Verisk said it is working with Vexcel Data Program and the Geospatial Insurance Consortium to assess property damage after Hurricane Ian. Verisk said in a press release that Vexcel and its …
Warren Buffett, who started the year bemoaning the lack of potential acquisitions for his conglomerate, Berkshire Hathaway, announced Monday that it would acquire the insurance company Alleghany for $11.6 billion. The scarcity of investment targets over the past several years …
In a dispute between two insurers, a federal appellate court ruled that GEICO is solely liable for the cost of replacing a Lamborghini worth more than $100,000 that was totaled in a collision with another vehicle. A panel of the …
More than eight years after Bonnie Winslett tore up and threw away a summons that notified her she was being sued, the Georgia Supreme Court is being asked to resolve questions of law that will determine whether GEICO Indemnity Co. …
The sharp reduction in personal auto claims that followed COVID-19 shutdown orders began to fade away after the Memorial Day weekend, but frequency appears to dropping again in reaction to a resurgence of the disease. Andy Cohen, chief operating officer …