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ERIE - Erie Indemnity Co News Story

$203.58 2.8  1.4%

Last Trade - 13/05/21

Sector
Financials
Size
Large Cap
Market Cap £7.58bn
Enterprise Value £7.54bn
Revenue £1.81bn
Position in Universe 895th / 6851

FACTBOX-Insurers return part of auto premiums as coronavirus cuts driving

Fri 1st May, 2020 2:45pm
(Updates USAA)
    May 1 (Reuters) - Major U.S. insurers are offering credit to
auto and motorcycle policyholders following a decline in
driving, as most Americans stay at home under widespread orders
to help contain the spread of the novel coronavirus.
    Following is a list of companies that have offered to return
premiums:
    
    ALLSTATE CORP  ALL.N 
    Allstate, one of the largest U.S. auto insurers, said on
Monday it would return more than $600 million in premiums to
customers.  urn:newsml:reuters.com:*:nL1N2BU0PO Most customers will receive a "payback"
of 15% of their monthly premium in April and May, the company
said.
    AMERICAN FAMILY INSURANCE
    The auto insurer said it would return a total of $200
million to auto insurance customers beginning in mid-April.
Customers will receive $50 per vehicle covered by their
policies, the company said.  urn:newsml:reuters.com:*:nL1N2BU0PO
    AVIVA CANADA
    Aviva Canada said it was offering $100 million in additional
immediate relief measures to drivers, including options that
would reduce insurance premiums. Customers who have stopped
driving entirely could reduce their auto insurance premiums by
up to 75%.
    CHUBB  CB.BN  
    The world's largest-listed property and casualty insurance
company said it will give personal auto insurance clients in the
United States credit on annual renewal premiums, reflecting a
35% cut for the months of April and May.  urn:newsml:reuters.com:*:nPn9ybX60a  
    ERIE INSURANCE  ERIE.O 
    The insurer said it would reduce rates for personal and
commercial auto insurance customers in 12 states and the
District of Columbia. It estimated the amount of financial
relief for Erie Insurance customers to be about $200 million.
 urn:newsml:reuters.com:*:nPn3xdVWca
    FARMERS INSURANCE
    Farmers and 21st Century-branded auto customers will receive
a 25% reduction in their April premium. The insurer said it has
also implemented flexible payment plans and a temporary pause on
cancellations.
    GEICO
    Geico Corp, part of billionaire Warren Buffett's Berkshire
Hathaway Inc  BRKa.N , said it will offer about $2.5 billion of
credits to its 19 million auto and motorcycle policyholders.
 urn:newsml:reuters.com:*:nL1N2BV2MK The insurer said it will offer a 15% credit on
policies up for renewal between April 8 and Oct. 7, averaging
about $150 per auto policy and $30 per motorcycle policy.
    HANOVER INSURANCE GROUP  THG.N 
    The company said http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20200410:nPnbnw3M2a
 it will return 15% of April and May auto premiums to its
eligible personal lines customers. Hanover will also offer
flexible bill payment options.
    LIBERTY MUTUAL INSURANCE
    Liberty Mutual Insurance will give personal auto insurance
customers a 15% refund on two months of their annual premium,
returning about $250 million to Liberty Mutual and Safeco
personal auto insurance customers.  urn:newsml:reuters.com:*:nPn8bpLkva
    METLIFE  MET.N  
    The company said https://www.businesswire.com/news/home/20200410005128/en/MetLife-Relief-Auto-Insurance-Customers
 it is providing financial relief and preserving coverage in the
event of missed payments. Active MetLife auto customers, who
have paid to date, will receive a 15% credit for April and May
based on their monthly premiums.    
    PROGRESSIVE INSURANCE CORP  PGR.N 
    Among the largest U.S. auto insurers, Progressive said it
would provide about $1 billion to personal auto customers. The
company will credit eligible customers 20% of their April and
May premiums.  urn:newsml:reuters.com:*:nFWN2BW1JB  urn:newsml:reuters.com:*:nL1N2BU1PQ
    STATE FARM
    The largest U.S. auto insurer said https://newsroom.statefarm.com/covid-19
 it would pay $2 billion in dividend to its customers, with
premium credit of about 25% for the period between March 20 and
May 31.  urn:newsml:reuters.com:*:nL1N2BU0PO
    TRAVELERS COMPANIES INC  TRV.N 
    The insurer said http://investor.travelers.com/file/Index?KeyFile=403557655
 it was giving U.S. personal auto insurance customers a 15%
credit on their April and May premiums through its new
stay-at-home auto premium credit program. It said it will
continue to provide auto coverage to customers whose jobs
include using their personal vehicles to make food, grocery,
pharmacy and medical supply deliveries.
    USAA
    USAA, America's fifth largest property-casualty insurer,
said it will return a total of $800 million to its members. 
    
    
    Source: Company data
    
  

 (Reporting by Noor Zainab Hussain in Bengaluru; Editing by
Aditya Soni, Leslie Adler, Stev Orlofsky and Anil D'Silva)
 ((noor.hussain@thomsonreuters.com; Within U.S. +1 646 223 8780;
Outside U.S. +91 80 6182 2663 or +91 80 3796 2663 ;))
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