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Auto Insurers to Return $10 Billion to Customers

As people stay inside, they drive a lot less.
Auto Insurers to Return $10 Billion to Customers
April 15, 2020

U.S. auto insurers will return more than $10 billion to their customers nationwide, according to an estimate released on April 11 by the Insurance Information Institute (Triple-I).

The Triple-I’s $10.5 billion estimate is a projection based on its analysis of 14 U.S. auto insurers who cited reduced policyholder mileage and the receipt of fewer claims amid the COVID-19 crisis as the reasons they were able to announce premium refunds, discounts, dividends, and credits.

“Insurers are again fulfilling their role as economic first responders by providing financial relief to customers when they need it most,” said Sean Kevelighan, CEO, Triple-I.

 

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