Progressive Archives - Carrier Management

Progressive Gains as Drivers Shop Around for Auto Insurance—Again

Although it may have seemed like drivers had thrown in the towel on trying to find cheaper auto insurance prices late last year, a new study of consumer behavior finds they're back to shopping ...

State Farm Underwriting Loss Climbs to $14B

When State Farm reported a $13 billion underwriting loss for 2022, it was the largest in the auto insurance giant's history. A year later, and another record. The underwriting loss figure climbed to ...

Destination Progressive… or One of These Other Carriers

Commissions are more certain than insurance losses. Those aren't exactly the words that a Progressive executive used when he described the work the insurer has been doing to help customers meet all ...

How Network Carriers Benefit From the Progressive Advantage Agency

Nationwide, American Modern, National General, Homesite, Hiscox and Markel are just a half dozen of the names on a roster of 20 carriers providing personal lines or commercial lines insurance (or ...

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.

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 ...

Progressive in a Better Place With Reserve Boosts Done, CEO Says

Shoring up loss reserves and adding "the premium equivalent" of a top 8 personal auto insurer to its books has put Progressive in a better place now than it was at the end of the second quarter. The ...

Progressive’s Earning Snapshot Shows Carrier Near Underwriting Profit Goal

Progressive's combined ratio for the first nine months of 2023 was 97.2, just over a point higher than the company's target of 96 and also above a 96.5 result the carrier posted for the same period ...

Commercial Auto Insurers Face Bleak Profit Outlook

Underwriting losses in U.S. commercial auto have returned to pre-pandemic levels and rate increases have not been enough to keep up with severity trends. "The liability component has been more ...

Progressive Nonrenews 100,000 Homeowner and Dwelling Fire Policies in Florida

Almost two years after Progressive Insurance announced it would stop renewing some homeowners policies in Florida, Flo and crew have dropped another 100,000 homeowner and ...