Progressive
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CEO Griffith noted that the company is feeling "the impact of weather and inflation" and that Progressive saw inflation impact the average cost to settle a claim. -
For the quarter, Progressive posted a combined ratio of 95.6%, a slight improvement from 96.5% in Q2 2021.
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The sector was hit by a rough first half of 2022, with more to come in the second half of the year.
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Embedded insurance can help sidestep some of the challenges faced by InsurTech 1.0.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Results for May show that the carrier’s combined ratio rose above its 96% target after dipping in April.
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Forecasters have again predicted an active season for storm activity, with the Florida market particularly vulnerable to high cat activity.
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The personal auto writer’s partnership with the digital dealership should serve as a warning for other InsurTechs.
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Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends.
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Inside P&C’s news team runs you through the key developments from the week.
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The executive noted in her shareholder letter yesterday that loss costs on average were up almost 18% from the same quarter last year.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
Related
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