Tag: progressive insurance

Progressive to cease renewal of some Florida home insurance policies

H. Cutner
Home insurance Renewal Denied - keyboard

The insurer has confirmed that it wasn’t leaving the state but that it wouldn’t always renew coverage. Progressive has confirmed that it has decided not to renew some home insurance policies in Florida once they reach their expiration date. Regulatory filings from the company have already started and notices will start being issued soon. A spokesperson from Progressive has confirmed the home insurance company’s intention to stop renewing certain policies in Florida. It has started the necessary regulatory filings for this move and will be issuing the first wave of…

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Progressive Corporation records $40 million reinsurance recovery for February

Logan B.
Reinsurance recovery - Winter storm - ice on home

The US winter storms, particularly occurring in Texas and Oregon, generated massive catastrophe losses. The Progressive Corporation recorded reinsurance recovery of $40 million in February as a result of the extreme winter weather that struck southern regions of the United States. Insurance damages left behind by the extreme and uncommon weather in the south were substantial. During February 2021, Progressive’s catastrophe losses were recorded at $87 million. This translated to a net catastrophe loss ratio of 2.7 percent of the insurer’s earned premiums, including the reinsurance recovery impact. The vast…

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Progressive TV ads featuring NFL quarterbacks are a marketing touchdown

Marc
Progressive TV Ads - Baker Mayfield Gets Wanded - Progressive Commercial - YouTube

The television commercials have considerably outperformed other advertising. The Progressive TV ads that feature National Football League quarterbacks have proven to be an extremely effective marketing strategy. CMO Jeff Charney applauded working with “One-Take Bake” Baker Mayfield of the Cleveland Browns. The insurer’s chief marketing officer Jeff Charney discussed the success of the Progressive TV ads. He praised Mayfield for the sports marketing appeal he brought to the advertising. Moreover, with the Browns still in the NFL playoffs, the insurer only predicts that it will enjoy additional great ad spots…

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Progressive offers Thanksgiving turkey insurance protection plan at Whole Foods

Marc
Thanksgiving Turkey Insurance - Turkey in oven

The grocery chain and insurer have teamed up to help customers protect their holiday meal this year. The Whole Foods grocery chain is working with Progressive to offer customers a Thanksgiving turkey insurance plan. The idea behind this coverage is to help protect against having the central part of the meal go wrong. The two companies are working together in this unique and somewhat odd combination. This Thanksgiving turkey insurance will be available exclusively for the one dish for this single celebration. Therefore, even if a family member brings a…

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Pandemic-reduced Progressive auto insurance rates are getting hiked

Nordstrom
Progressive auto insurance rates - money

As more drivers head back out onto the road again, the insurer is increasing the cost of coverage again. When the pandemic hit, sending drivers across Illinois home and leaving their cars in their driveways, Progressive auto insurance rates were lowered by about 10 percent. That said, drivers are heading back out again, and their premiums are also starting to rise. The insurer is increasing its rates by 4.2 percent for the majority of its customers in Illinois. The new Progressive auto insurance rates were filed with the Illinois Department…

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Progressive life insurance may be a future move, says CEO

Nordstrom
Progressive life insurance - Doors - Future

The insurer is looking into moving into a new market as the CEO says there is “more to come.” It may not be too long before Progressive life insurance becomes a product available to consumers in the United States. Though the move is far from confirmed, the insurer’s CEO has indicated that it is being considered. “We actually are considering that,” said Tricia Griffith, chief executive officer, when asked about the potential for Progressive life insurance in the future. “We have a life-insurance company filed in Ohio. More to come…

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Progressive Insurance company ads demonstrates shift from pandemic

G. Turner
Insurance company ads - Mask - Question mark

Companies across many industries have seen their advertising transformed due to the crisis. Advertisers are keeping a close watch on the mood of the country and Progressive insurance company ads are a direct reflection of the shift caused by the pandemic crisis. The insurer, like the other biggest brands across the nation, is seeking the right tone. A number of weeks ago, Progressive Corp’s advertising team got together to develop insurance company ads showing the company’s pitchwoman, Flo, running from a bowling alley to assist someone whose car was damaged…

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