Progressive CEO: Loss costs continued to rise in Q1 2022
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Progressive CEO: Loss costs continued to rise in Q1 2022

Farhin Lilywala
May 02, 2022
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In a letter to shareholders, Progressive CEO Tricia Griffith highlighted that the loss cost trends seen in 2021 have continued to rise in the first quarter of 2022 as the industry grapples with a continuation of rising inflationary pressures.

Progressive’s response has been to take underwriting and non-underwriting actions and work with regulators to take more rate, affecting both the company’s growth and underwriting profitability in the quarter, Griffith said.

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Farhin Lilywala
Section Editor, Distribution & Specialty
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