Do we like GEICO?
US car insurer (Government Employees Insurance Company), based in Maryland, selling mainly auto cover direct to drivers.
Our score: 4 out of 10. Mixed at best. A steady run of regulator fines and settlements over data security, overcharging and pay, with few clear good deeds. We'd hold off for now.
GEICO is one of America's big car insurers and is owned by Warren Buffett's old firm, Berkshire Hathaway. In December 2025 Berkshire announced that CEO Todd Combs was leaving for JPMorgan. Nancy Pierce, who has worked at GEICO since 1986, took over as CEO.
The latest drama is in New Jersey. In October 2026 the state insurance department said GEICO overbilled drivers $10.5 million in 2023 and 2024. It also found policies cancelled for improper reasons, and GEICO was fined $1.2 million. Customer complaints started the probe. GEICO said it was pleased to have resolved it.
Data security is another sore spot. In 2024 New York's attorney general and financial regulator announced a $9.75 million settlement over hacks of GEICO's quoting tools. About 116,000 New Yorkers' data was exposed, and some was used for fake unemployment claims. GEICO said it self-reported the problem and made fixes.
2026 brought more smaller cases. Pennsylvania's attorney general settled over an AI underwriting tool that led to a policy being cancelled without proper notice. GEICO also settled a $1.65 million credit-report class action, denying wrongdoing. And it paid about $940,000 to call-centre staff who claimed unpaid overtime, with no admission of fault.
Why 4/10? Taken one by one, the fines are not huge. Together they show a pattern across customers, staff and data handling. The credit for self-reporting and voluntary refunds is real but thin, so we wouldn't back them with our money yet.