Property and casualty insurers achieved their best first-quarter results in 25 years, with auto insurance driving much of the $22.1 billion industry profit. Major insurers like State Farm, Progressive, and GEICO all posted gains exceeding $1 billion.
Progressive
Insurance Application Fraud: Supreme Court Backs Insurers
Michigan Supreme Court upheld Progressive’s right to rescind a policy after a driver misrepresented her living situation and vehicle location, resulting in complete loss of coverage after an accident.