Progressive raised personal auto rates by 7% in Q2 amid loss cost pressure: CEO
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Progressive raised personal auto rates by 7% in Q2 amid loss cost pressure: CEO

Shelby Rosenberg
August 01, 2023
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Progressive increased personal auto rates by an estimated 7% in the second quarter – 11% year-to-date – but recorded a combined ratio that was “clearly not where we would like to be at the halfway point of the year”, CEO Tricia Griffith wrote in a Tuesday letter to shareholders.

“Severity has increased, and property damage claims are taking considerably longer to settle than they have historically,” the CEO said.

“In

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Shelby Rosenberg
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