Progressive Insurance CMO Jeff Charney announces his retirement

Progressive Insurance CMO - Change in Business

Having been in the position since 2010, he expects his last day to be in January 2022. Progressive Insurance CMO Jeff Charney has announced that he will be retiring from his position at the company at the start of next year. Charney has been Chief Marketing Officer for the insurer since 2010 and is leaving time for a successor. The early announcement of the Progressive Insurance CMO is making it possible for the company to take its time to find the right successor for the job. Charney expects to retire…

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

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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HSB rolls out new small business workplace violence insurance coverage

Workplace violence insurance - person looking stressed

The Munich Re company has developed a new type of product for small- and mid-size companies. Munich Re company, HSB, has announced the creation of a new type of workplace violence insurance it is offering to small- and mid-size businesses. The coverage is meant to help a company and its employees to recover after a violent event. The new HSB workplace violence insurance provides the company’s employees with crisis communications, counseling, security services and lost business income coverage. The purpose is to support companies and their employees in their response…

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Zurich Insurance Group shares 2020 performance results

Zurich Insurance Group - Business - Results

The Swiss firm has become the latest insurer to unveil its data from a unique time last year. Zurich Insurance Group has joined several other insurers in sharing its insurance industry 2020 performance. The chief executive of the group, Mario Greco, has expressed confidence moving forward, despite seeing dropping results across all the insurer’s primary business lines. The insurer’s net income attributable to shareholders fell by 8 percent in 2020 compared to 2019. That said, despite the fact that it saw an 8 percent year over year reduction, it still…

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Allstate auto insurance market share tanking at fastest pace in 20 years

Allstate auto insurance market share - down arrow

This slip has occurred despite the priority the insurer has placed on growth and gains in this category. Top priority was given to the Allstate auto insurance market share last year, but despite its efforts, 2020 caused the company to see sizable growth rate reductions. In fact, the insurer saw the lowest policy renewal rates it has experienced since at least 2001. One of the factors having the hardest impact on the Allstate auto insurance market share last year was the sudden price competition driven by the 2020 COVID-19 pandemic…

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Farmers Insurance scores high on Human Rights Campaign Foundation

Human Rights Campaign Foundation - Business workers looking happy

The insurer’s score on the 2021 Corporate Equity Index was 100 for the third year in a row. Farmers Insurance released an announcement including its score of 100 on the Human Rights Campaign Foundation 2020 Corporate Equity Index. This represents the third consecutive year that the insurer has received this top score. This index is the top benchmarking survey and report measuring workplace equality in corporations. A high score on this index from the Human Rights Campaign foundation means that a company’s corporate policies and practices are positive with respect…

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State Farm publishes list of 10 states with highest frozen pipe losses

Frozen pipe losses - pipe frozen with icicles

Water pipes can freeze in parts of the country known for very cold weather, but not always. State Farm Insurance has released a top 10 list of the states most affected by frozen pipe losses. It is serving as a stark reminder that it’s not just the parts of the US known for the coldest weather that can be affected by this costly damage. Homes with both copper and plastic water pipes can suffer from damage from freezing and bursting. Frozen pipe losses aren’t as simple to repair and clean…

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