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 …
Shares of Progressive Corp. fell the most since 2000 after the insurance company released second quarter results that missed analysts’ estimates. The stock tumbled by about 13% on Thursday, following the report that its combined ratio — a measure of …
Social media influencers and an insurance industry think tank are giving Hyundai and Kia vehicles the worst kind of publicity: Many of the cars the company sold are easy to steal. In the past week, newspapers and television news producers …
Progressive Partners with Motive to Curb Commercial Auto Claims Motive, a fleet management company formerly known as KeepTruckin, has announced a partnership with Progressive Commercial to offer Motive’s market-leading AI-based safety solution to Progressive Commercial customers. The new partnership is …
An insurer wrongly denied uninsured motorist coverage to a policyholder who was injured while riding his motorcycle even though the policy excluded damages caused by motorcycle accidents, the Montana Supreme Court ruled Tuesday. The high court ruled that the insurance …
The 8th Circuit Court of Appeal ruled Monday that there is no ambiguity in the term “owned motorcycle” and affirmed a decision to deny a $3 million uninsured motorist claim. Lauren Palazzolo was killed in 2017 while driving as a …
Progressive Adds ‘Road Test’ to Snapshot Progressive Group of Insurance Companies has released a new smart phone app that consumers can use to learn before they purchase a policy whether they can save money by purchasing usage-based insurance. “With Snapshot …
A federal appellate court threw out most of the claims by automotive body shops in Indiana, Utah and Mississippi that alleged that major insurers violated anti-trust laws and engaged in anticompetitive practices by steering policyholders to “approved” shops. The 11th …
Berkshire Hathaway’s GEICO auto insurer has joined the ranks of carriers using telematics to track and improve driver behavior—after resisting for years. GEICO has been one of the few among the top 10 largest personal auto insurance carriers without a …
Chubb Launches Dedicated Multi-line Practice Focused on Large Transportation Clients in North America Chubb launched a multi-line industry practice within its Major Accounts division, dedicated to providing innovative insurance products, industry-leading service and risk management solutions for best-in-class large risk …