Geico faces California car insurance class action lawsuit

California car insurance - class action lawsuit
Auto insurance data spat could lead...
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The insurer has been accused of overcharging its policyholders early in the COVID-19 pandemic. A federal judge recently decided that a California car insurance lawsuit accusing Geico of having overcharged over 2 million drivers in the state on their premiums early in the pandemic can proceed as a class action. The judge rejected the insurer’s arguments that the lawsuit would lead to “insurmountable manageability problems”. US District Judge Beth Labson Freeman of San Jose rejected Geico’s assertions that a group California car insurance lawsuit regarding the unsatisfactory nature of the…

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Auto insurance companies won’t be raising rates in California

Auto insurance companies - Car insurance

Rate increase approvals haven’t been approved in over two years, and that is continuing. According to leading auto insurance companies and associations in California, the state is risking a coverage crisis in the largest market in the country because it continues to deny rate increases. Insurers haven’t been able to raise their rates in California since before the pandemic began. The auto insurance companies have already been making cutbacks and have said that they won’t be able to continue operating at a loss in this way. They have pointed to…

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GEICO suddenly stops selling California auto insurance policies by phone or in-person

Auto insurance - Online - California

The insurer has shut offices, laid of hundreds of people and isn’t selling in any way other than online. GEICO has stopped selling California auto insurance policies by phone or in person, while regulators have said that they are monitoring the situation. All 38 of the insurer’s agent offices in California have now been closed and workers laid off. California drivers with GEICO auto insurance policies are still covered and it is still possible to sign up for new coverage online. That said, the in-person offices are all closed, and…

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GEICO insurance company announces new Chief People Officer

Insurance company - HR

Shannon Hobbs has now joined the insurer and will be overseeing corporate HR among other areas. The GEICO insurance company has recently announced that it has hired a new Chief People Officer, Shannon Hobbs. Hobbs came to work for GEICO following several positions at American Century Investments. As Chief People Officer, Hobbs will be responsible for overseeing the insurance company’s Corporate HR, recruiting, compensation and benefits, continuing education, talent development, diversity and inclusion, leadership/management training, and community engagement efforts. Before Hobbs was hired by GEICO, she had been at American…

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GEICO sweetens its insurance jobs with new education benefit

Insurance jobs - Education Benefits

The new benefit is being offered across the company, eliminating all upfront costs of education. GEICO has announced that it is adding a new education and growth benefit across the company to make insurance jobs even more appealing to the 40,000 existing associates and those considering a position with the company. The education benefit through GEICO Strive is available to current and new associates in the company. Through GEICO Strive, those with insurance jobs with the company will have access to over 220 schools and education providers and will enjoy…

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GEICO Executive Chair Tony Nicely retiring at the end of 2021

Geico Executive - Retirement

The announcement was made that he would be stepping down at the end of the year after a 60-year career. GEICO Executive Chair Tony Nicely has announced his retirement and that he will be stepping down from his position at the end of the year following his 60-year career in the industry. Before taking his current position with the insurance company, Nicely had been chair and CEO for 25 years. Under Nicely as CEO, chair and GEICO executive chair, the insurance company experienced its most powerful growth period, becoming one…

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Insurance job starting salaries rise as many insurers struggle to fill positions

Insurance job starting salaries - increase in money

Companies are finding it difficult to find enough applicants as they seek to hire in numbers. Insurance job starting salaries are on the way up at a number of insurers, particularly in locations that are proving especially difficult for filling positions. Even as the federal pandemic unemployment benefits have come to an end, insurers are still struggling. To boost appeal to applicants, many insurers have been advertising higher insurance job starting salaries. While some people are viewing this as an opportunity to start a new and rewarding career, others still…

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