Progressive’s property loss estimate for Ian lowered by $400mn
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Progressive’s property loss estimate for Ian lowered by $400mn

Kyoung-son Song
21 December 2022
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In an update of Hurricane Ian-related losses, Progressive reported that loss and allocated loss adjustment expenses for the property business was estimated at $1bn, marking a $400mn drop from what the company disclosed in October.

Loss estimates for vehicles, including boats and recreational vehicles, remained unchanged from November. Last month, the company disclosed that its total anticipated auto loss was $574mn, down from its initial estimate of $585mn in October.

However,

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