Progressive reporting preliminary figures exceeding $1B for losses in Florida due to Helene and Milton.

The $200 million estimate includes what are known as “allocated loss adjustment expenses,” which can include such things as adjuster costs and legal fees.

Yeah, the part where they invoke the "heads I win, tails you lose" rule.

Anyway, I'm no actuary or insurance expert, but that sounds like a lot to me. Maybe I'm wrong. Maybe that's couch change to Progressive.

Originally posted at Nice Marmot 14:59 Tuesday, 15 October 2024