CollisionWeek

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

  • News
  • Research
  • Feature
  • Subscribe
You are here: Home / Archives for GEICO

GEICO Offering Discount for New Personal Auto Policies

March 22, 2024 By CollisionWeek Editor

S&P Global Market Intelligence reported that GEICO has recently begun submitting personal auto rate filings in several states that offer a “Welcome Factor” discount to new customers. The plan offers a temporary discount that applies to new policyholders and would be phased out in each subsequent renewal period. The discount first appeared in its Virginia […]

Filed Under: News Tagged With: GEICO, Premiums, S&P Global Market Intelligence

Top Three Private Passenger Auto Insurers Are Also Top Three Most Trusted P&C Insurance Carriers

March 14, 2024 By CollisionWeek Editor

Insurity’s P&C Consumer Pulse survey gauges consumer sentiment toward major P&C insurance carriers. Insurity, the provider of cloud software for insurance carriers, brokers, and MGAs, announced findings from its latest P&C Consumer Pulse survey, which offers insights into consumer attitudes toward major P&C insurance carriers. The survey identifies the top three P&C insurance companies deemed […]

Filed Under: News Tagged With: Consumer Sentiment, GEICO, Progressive, Property Casualty Insurance, State Farm

GEICO Reports Underwriting Profit of $3.6 Billion

February 27, 2024 By CollisionWeek Editor

Loss ratio was 81% in 2023, down 12.1 percentage points from the previous year when the company reported a $1.88 billion pre-tax underwriting loss. Berkshire Hathaway reported its 2023 earnings on February 24, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S.   GEICO’s pre-tax underwriting earnings in […]

Filed Under: News Tagged With: Berkshire Hathaway, Claim Frequency, Claims Severity, Earnings, GEICO, Net Written Premiums

GEICO Receives National Auto Body Council President’s Award

January 4, 2024 By CollisionWeek Editor

The National Auto Body Council announced recently that GEICO is the recipient of the 2023 NABC President’s Award, which formally recognizes the NABC member company that supports the vision of the National Auto Body Council through donation of their time and resources. GEICO was selected by the NABC Board of Directors for its ongoing, strong […]

Filed Under: News Tagged With: Awards, GEICO, National Auto Body Council

GEICO Reports Collision Claims Severity 5-7% Higher in First Nine Months of 2023 Compared to Last Year

November 6, 2023 By CollisionWeek Editor

Frequency was down, but severity up year-to-date through third quarter. Policies in force down over 12% as company reduces advertising and focuses on profitability. Berkshire Hathaway reported its third quarter earnings, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. on November 4. GEICO’s pre-tax underwriting earnings in […]

Filed Under: News Tagged With: Berkshire Hathaway, Claim Frequency, Claim Severity, Earnings, GEICO, Policies in Force

GEICO Reported to Lay Off 6% of Workforce

October 20, 2023 By CollisionWeek Editor

GEICO, the third largest private passenger auto insurance company in the U.S., is reported to have announced to employees that it will lay off 2000 employees or about 6% of its staff. The announcement came in a letter from Todd Combs, GEICO’s CEO, announcing that the company was making the move to better position itself […]

Filed Under: News Tagged With: GEICO, Layoffs

State Farm Premiums Written Up Nearly 24% in Second Quarter

September 22, 2023 By CollisionWeek Editor

S&P Global says the company remains largest auto insurer in the U.S. State Farm Mutual Automobile Insurance Co. remained the largest personal auto insurer in the US during the second quarter amid a record quarter for the sector, according to an S&P Global Market Intelligence analysis. The insurer’s direct premiums written surged nearly 24% — […]

Filed Under: News Tagged With: Allstate, American Family, GEICO, Liberty Mutual Insurance, Net Written Premiums, Progressive, S&P Global Market Intelligence, State Farm, USAA

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 […]

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

GEICO Reports Collision Claim Severity 7-8% Higher in First Quarter Compared to Last Year

May 8, 2023 By CollisionWeek Editor

Collision frequency was down for the quarter. Berkshire Hathaway reported its first quarter earnings, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. on May 6.   The company reported claims frequencies in the first quarter of 2023 were lower for property damage (five to six percent range) […]

Filed Under: News Tagged With: Berkshire Hathaway, Earnings, GEICO

Berkshire Hathaway Reports GEICO Collision Claims Severity 14-16% Higher in 2022 Compared to Previous Year

March 1, 2023 By CollisionWeek Editor

Collision claim frequency was also up last year as company reports auto insurance underwriting loss. Berkshire Hathaway reported its 2022 earnings, including details about its GEICO subsidiary, the second largest private passenger auto insurer in the U.S. on February 25. The company reported claims frequencies in 2022 were higher for all coverages, including property damage […]

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

  • « Previous Page
  • 1
  • 2
  • 3
  • 4
  • …
  • 7
  • Next Page »

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

  • 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
  • LKQ Publishes 2024 Global Sustainability Report May 28, 2025
  • Fix Auto Franchisee Opens 6th Location in California May 28, 2025
  • Florida Body Shop Owner Pleads Guilty to Bank Fraud May 28, 2025
  • Liberty Mutual Insurance Donates $25,000 to Collision Engineering Career Alliance May 27, 2025
  • CARSTAR Adds Collision Repair Center in Deerfield Beach, Florida May 27, 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