In the spring, Progressive said it had given customers premium credits of 20 percent for April and May, a payout totaling about $1 billion. The industry has been flexible about working with strapped customers on payments during the pandemic, he said, and has contributed $280 million to charitable endeavors related to the coronavirus. The insurance industry has had a challenging year in other ways, Mr. Lynch said, with significant claims related to hurricanes and wildfires. An industry auto premium index was down 7 percent in October and 6 percent in November, reflecting “decreases in response to the falloff in claim frequency,” he said. But a report published by U.S. PIRG’s Education Fund affiliate, examining relief given by the 10 top insurers in each state, found that most hadn’t given customers more than half of one month’s premium.

Source: New York Times January 01, 2021 14:00 UTC