Market share points to potential for $1bn+ Geico, Progressive Ian losses
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Market share points to potential for $1bn+ Geico, Progressive Ian losses

Kyoung-son Song
October 05, 2022
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Geico Progressive flooded road.jpg

Geico and Progressive may face gross losses exceeding the $1bn mark due to auto damage from Hurricane Ian, based on market share analysis applied to an extrapolation from Karen Clark’s figures.

Clark – who leads cat modeller Karen Clark & Company (KCC) – told this publication that auto losses will make up at least 10% of total losses from Hurricane Ian, well ahead of a typical auto share of 3%-5%,...

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Topics

NewsPersonal linesPersonal autoBerkshire HathawayProgressiveClaims and losses
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Kyoung-son Song
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