CollisionWeek

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

  • News
  • Research
  • Feature
  • Subscribe
You are here: Home / News / GEICO Reports Collision Claims Severity 7-9% Higher in First Half of 2023 Compared to Last Year

GEICO Reports Collision Claims Severity 7-9% Higher in First Half of 2023 Compared to Last Year

August 7, 2023 By CollisionWeek Editor

Frequency was down for first half. Policies in force down 14.4% as company reduces advertising and focuses on profitability.

Berkshire Hathaway reported its second quarter earnings, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. on August 5.

GEICO’s pre-tax underwriting earnings in the first six months of 2023 reflected higher average premiums per auto policy, a reduction in advertising costs, as well as reductions in prior accident years’ claims estimates.

Premiums written and earned were substantially unchanged in the second quarter and first six months of 2023 compared to 2022.

Premiums in

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: Berkshire Hathaway, Claim Frequency, Claim Severity, Earnings, GEICO

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 Board of Directors Boyd Group California Canada Career and Technical Education CARSTAR CCC Collision Industry Electronic Commerce Association Collision Repair Education Foundation Coronavirus Crash Champions Diagnostics Donations Earnings Electric Vehicles Florida I-CAR Lawsuits legislation LKQ Corporation National Auto Body Council Network Affiliations New Jersey New Vehicle Sales Non-OEM Parts Openings People PPG Industries Regulations Right to Repair Scholarships Texas United Kingdom Workforce Development

Recent Articles

  • CCC Partners with BMW to Help Drivers Connect with Certified Collision Repair Facilities and Take the First Step Toward Repair May 29, 2025
  • Crash Champions Selected as Hyundai Authorized Paint Repair Partner May 29, 2025
  • Auto Body Supplies and Paint Named BASF ColorSource Jobber of the Year May 29, 2025
  • Mercedes-Benz to Move North American Headquarters to Atlanta May 29, 2025
  • Tesla Reported to Launch Robotaxi Service in Austin, Texas June 12 May 29, 2025
  • Travelers to Sell Canadian Insurance Operations to Definity for $2.4 Billion May 28, 2025
  • Oklahoma Storage and Total Loss Administrative Charge Price Control Bill Becomes Law May 28, 2025

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 1999-2025 - QuanDec Corporation - All Rights Reserved · Log in