News
Progressive Q4 Net Income Up 141% as Combined Ratio Exceeds Goal for 2023
Progressive Corp. said fourth-quarter 2023 net income jumped to nearly $2 billion compared to about $826 million a year ago during the same period. The Mayfield Village, Ohio-based insurer reported ...
Triple-I: Cellphone Use Biggest Cause of Distracted Driving
Drivers using a cellphone while operating a motor vehicle is the largest contributor to distracted driving in the U.S., according to the latest Issues Brief from the Insurance Information Institute ...
Insurance compliance work rarely operates at an entirely predictable pace. A carrier may be managing normal licensing and appointment activity...
Manufacturing Sector Subject to More Cloud Attacks Than Other Industries
A new survey of more than 1,600 IT and security professionals spanning more than 100 countries casts light on cyber attacks and their targets, with the manufacturing sector suffering the most attacks ...
Bill Highlights Legislative Push to Rein in CEO Pay
U.S. Senator Bernie Sanders and a group of Democratic lawmakers are pushing to raise taxes for companies that pay their chief executives at least 50 times more than their typical worker's salary, ...
After Faked Safety Tests, Daihatsu Factories Face Long Wait to Reopen
A Japanese automaker that cheated on safety tests for decades said Monday it doesn't expect to resume shipping cars any time soon. The Japanese government ordered a subsidiary of Toyota to halt ...
Survey Shows Customers Expect 5-Day Claims Payouts, Not Paper Checks in Future
The vast majority of insureds expect claim payouts to take no more than five days, a new survey shows. The survey shows 82 percent of customers expect claim payouts to take no more than five days, ...
Natural Disaster Protection Gap Returned to ‘Average Levels’ in 2023
Global insured losses from natural catastrophes totaled $118 billion in 2023, according to Aon's annual Climate and Catastrophe Insight report. That number represented 31 percent of the total ...
Class Actions Filed Over Builders Mutual, Progressive’s Own Data Breaches
Progressive Casualty Insurance and North Carolina-based Builders Mutual Insurance Co. have been served with class-action lawsuits over data breaches on their own computer systems in 2022, cyber ...