Tag: geico insurance

Berkshire’s 2020 underwriting profit got a shot in the arm from GEICO

Logan B.
Underwriting profit - Person holding out cash

The company’s income was black, even when its P/C reinsurance experience notable losses. Berkshire Hathaway recently reported that despite the widespread losses it saw in insurance on the whole, it managed to see property/casualty underwriting profit last year due to GEICO’s performance. The number two insurer in the United States managed to more than double its profits from 2019. The results GEICO brought Berkshire Hathaway brought its full-year property/casualty income into the black, despite having seen underwriting losses in P/C reinsurance in both 2019 and 2020. All tolled, GEICO brought…

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GEICO reports over 20 percent drop in property damage and collision claims last year

Nordstrom
Property damage - car accident - damage

The auto insurer’s data showed its claims fell through the floor throughout the first year of the pandemic. In a recent statement from the company, GEICO shared data showing that its collision claim frequency fell by “twenty-three to twenty-four percent” and property damage dropped by even more. The dropping claims frequency during the pandemic’s first year led to far greater year-over-year profits. The onset of the COVID-19 crisis in 2020 vastly reduced the property damage and collision claims, allowing GEICO to more than double its profitability when compared to 2019.…

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GEICO Insurance issues advice to drivers for the holiday season

H. Cutner
GEICO Insurance - Driving on winter roads

The auto insurer is reminding drivers of the importance not to rush while on the road. GEICO Insurance has issued an official notice to the drivers it covers, reminding them of the importance of slowing down and driving safely even at this busy time of year. The insurer is urging motorists to remember what is truly important during the holidays. Throughout the end of November and all the way through December, many of us are rushing around trying to make sure our holidays will be the best ones yet. Whether…

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Auto insurance premiums continue to rise in the U.S.

Nordstrom
allstate auto insurance

Falling gas prices bring more drivers to the roads Auto insurance premiums are on the rise in the United States, and this may be due to falling gas prices. Global oil prices have been falling, which has resulted in lower gas prices for drivers in the U.S. As such, many consumers have been traveling more frequently. According to the Maine Turnpike Authority, some 16 million cars passed through tolls this year, which is the highest number of vehicles passing through tolls that the organization has ever recorded. More drivers on…

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Mobile auto insurance honor handed to GEICO

H. Cutner
Geico auto Insurance

An independent research firm has said that the insurer’s smartphone functionality tops the ranks. According to Forrester Research, when it comes to mobile auto insurance functionality, GEICO is leading the way in the industry and is providing the best overall customer experience. Considering the importance of smartphones and cell phones in our lives, this is an important statement. The November 2013 report has been released by Forrester Research to include their 2013 U.S. Mobile Insurance Functionality Rankings. They determined that when it came to the performance of mobile auto insurance…

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