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Looks like a gecko might be looking for some extra work.
According to an S&P analysis released Wednesday, the popular auto insurer Geico Corp. slashed its advertising spend by 38% in 2022.
In fact, four of the largest property/casualty insurers — Geico, The Progressive Corp., State Farm Mutual Automobile Insurance Co. and Allstate Corp. — have slashed their advertising budgets, albeit the others a little less: no more than 26%, the analysis found.
The reductions are in part the result of rising costs associated with elevated claims, the analysis revealed.
2. Berkley sells Breckenridge division to AssuredPartners unit
6. FTC move makes biometric privacy liability a national concern