Frequency remained down 24-26% so far this year compared to 2019.
On November 7, Berkshire Hathaway Inc. reported its third quarter earnings, including details about its GEICO subsidiary, the second largest auto insurer in the U.S. According to the company’s quarterly report, GEICO generated a pre-tax underwriting earnings of $276 million. The company reported significant declines in losses and loss adjustment expenses attributable to lower claims frequencies from the effects of less driving by policyholders during the COVID-19 pandemic. Offsetting the lower costs, however, the effects of the GEICO Giveback program significantly impacted earned premiums and the program will continue
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