Progressive Expects Most Sandy Claims Thus Far to Be Total Losses

Progressive Corp. CEO Genn Renwick says the auto insurer has received 6,000 claims from Superstorm Sandy as of Nov. 2 and “more often than not” they’ll be total losses. 

Renwick told analysts during a conference call on Friday that he anticipates more claims as policyholders get are able to return home or are able to call in claims since many were displaced by flood or power outages. Hopefully, he says, “we can get as many of the unreported claims in within the next few days so we can get on those as quickly as possible.” 

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