CollisionWeek

Your source for the latest collision repair industry news, statistics and trend analysis.

  • News
  • Research
  • Feature
  • Subscribe
You are here: Home / News / Berkshire Hathaway Reports GEICO Collision Claims Severity Up 19-20% in Second Quarter Compared to Last Year

Berkshire Hathaway Reports GEICO Collision Claims Severity Up 19-20% in Second Quarter Compared to Last Year

August 8, 2022 By CollisionWeek Editor

Reports underwriting loss as higher used car prices and shortages of collision repair parts increase severity.

Berkshire Hathaway reported its second quarter 2022 earnings, including details about its GEICO subsidiary, the second largest private passenger auto insurer in the U.S. on August 6.

GEICO’s pre-tax underwriting loss in the first half of 2022 reflected increased claims severities, primarily due to significant cost inflation in automobile markets, which began to accelerate in the second half of 2021. According to the company, increases in used car prices are producing increased claims severities on total losses and shortages of car parts are contributing

Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options. 

Filed Under: News Tagged With: Claim Frequency, Claim Severity, Earnings, GEICO

Connect

  • Email
  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Interview Sponsors

IBIS Publisher Partner

Login

Remember Me
Subscribe | Lost your Password?

Tags

AAA AASP/NJ Acquisitions Advanced Driver Assistance Systems Agreements Signed Annual Conference Auto Care Association Automotive Service Association Autonomous Vehicles Awards Axalta Coating Systems BASF Board of Directors Boyd Group California Canada Career and Technical Education CARSTAR CCC Collision Repair Education Foundation Coronavirus Diagnostics Donations Earnings Florida I-CAR Insurance Auto Auctions Lawsuits legislation LKQ Corporation Mitchell International National Auto Body Council Network Affiliations New Jersey New Vehicle Sales Non-OEM Parts Openings People PPG Industries Regulations Scholarships Service King Collision Repair Centers Texas United Kingdom Workforce Development

Recent Articles

  • NHTSA Proposes Automatic Emergency Braking Requirements for New Vehicles June 1, 2023
  • Driven Brands Collision Repair Companies Kick Off Third Annual Shine Season Summer Fundraising June 1, 2023
  • Speakers Announced for September 12-13 CIECA CONNEX Conference June 1, 2023
  • June is Automotive Service Professionals Month June 1, 2023
  • Federal Judge Will Allow Massachusetts AG to Start Enforcing Right to Repair Law Tomorrow May 31, 2023
  • Caliber Signs Enterprise Agreement to License Mitchell Cloud Estimating May 31, 2023
  • Opus IVS Partners with CARS Co-Op Network May 31, 2023

CollisionWeek Membership

  • Login
  • Lost Password
  • Membership Details
  • Register
  • Sponsors
  • Subscription Information
  • Terms of Use for CollisionWeek

More Information

About CollisionWeek
Contact Us
Privacy Policy
Event Calendar
Take the Collision Repair Business Conditions Survey

Copyright 1999-2023 - QuanDec Corporation - All Rights Reserved · Log in