UPDATE 1-U.S. consumer groups say some auto insurer lockdown rebates are too small [Reuters (UK)]
Berkshire Hathaway Inc. (BRK.A)
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Source: Reuters
U.S. consumer groups say some auto insurer lockdown rebates are too small - Reuters 3 Min Read (Reuters) - Two consumer groups said on Thursday that some of the largest U.S. auto insurers, including billionaire Warren Buffett’s Geico Corp, are short-changing customers on premium rebates as Americans drive less due to stay-at-home orders aimed at curbing the coronavirus outbreak. U.S. auto insurers will return a total of more than $7 billion in premium refunds and credits to customers through May, according to the Consumer Federation of America (CFA) and Center for Economic Justice (CEJ). Still, the drop in auto insurance claims spurred by reduced driving is far greater, the groups said. The groups created a report card for premium relief from the nation’s 15 largest insurers, giving Geico Corp., part of Buffett’s Berkshire Hathaway Inc ( BRKa.N ), a “D-“ and National General Insurance ( NGHC.O ) and “F.” Insurers’ relief to consumers ranges from 10% to 35% of two months of premium
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