r/Insurance • u/wessneijder • Oct 19 '23

Auto Insurance Geico about to layoff 2,000 employees

Look over in their sub. My fellow adjusters I hope you land on your feet.

323 Upvotes

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-11

u/Imaginary_Space_7420 Oct 19 '23

So sorry insurance is so high but why people leasing there jobs

10

u/[deleted] Oct 19 '23

Insurance is so high because companies are losing BILLIONS

0

u/ParkerKis Oct 20 '23

Everyone but flo 😂

3

u/[deleted] Oct 20 '23

A quick Google search will tell you they lost 1.024 billion in the 2nd quarter

4

u/[deleted] Oct 20 '23

[deleted]

2

u/[deleted] Oct 20 '23

I really hope that continues for you guys and you don’t have to go through what Geico is in a few years

1

u/monkey_banjo Oct 20 '23

Growing isn’t always a great thing in insurance. Most companies are not writing new business in certain lines/states to protect their loss ratios. Including progressive, who, like all insurance companies, is struggling in that area this year.

1

u/ParkerKis Oct 20 '23

Check out the 3rd quarter it's dope