Insurer Nationwide said it is reducing its headcount by about 5% over the next year. “We can’t speculate on the total number of job impacts,” said Nationwide in a statement. “Eligible associates are able to apply for any of the …
Insurer GEICO has agreed to pay $6 million to settle claims by auto damage claims adjusters who allege the insurer failed to pay them for all hours they worked “off-the-clock.” The settlement affects 806 adjusters countrywide who worked for GEICO …
Although Berkshire Hathaway’s Warren Buffett and Ajit Jain told investors last month that GEICO is playing catch-up with Progressive to improve technology and connect rate to risk, Berkshire’s personal auto insurer still surpasses Progressive on customer satisfaction. According to the …
Berkshire Hathaway continued to deliver eye-popping results for its insurance and reinsurance operations during the first quarter of 2024, with underwriting profits for personal auto insurer GEICO and reinsurance operations topping any prior first quarter in the last decade. Across …
Geico has settled allegations by the US labor board that it illegally threatened and interrogated upstate New York employees about unionization efforts. The insurance company agreed to post a notice informing employees of their rights and vowing to comply with …
A federal appeals court has sided with three chiropractors in ruling that claims under New Jersey’s personal injury protection statute concerning insurance fraud are subject to arbitration. GEICO has lost its bid to pursue litigation alleging fraud against the chiropractors. …
Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market players. Profitability challenges in the …
GEICO must defend itself against a class-action lawsuit that alleges it failed to include the cost of sales taxes and purchasing fees when it paid total loss auto collision claims in Texas, depriving policyholders of actual cash value. A panel …
Geico General Insurance Co. must face a class action suit alleging that it has been underpaying benefits to its insureds injured in automobile accidents. U.S. District Court Judge Dora L. Irizarry in federal court in Eastern New York has certified …
A licensed insurance agent, and the insurer she represents, owe a duty of care to a customer to explain coverages but neither the agent nor the insurer has a fiduciary duty to an insured under Connecticut law. U.S. District Judge …