PROGRESSIVE CORP
PGR
Financials
3
exclusion reasons
3 themes
PROGRESSIVE CORP is screened out under 3 exclusion reasons spanning 3 issue categories.
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. It is a statement of values.
Progressive paid $3.25 million to settle a data breach lawsuit in 2024-2025. The breach involved unauthorized access to customers' Social Security numbers and driver's licenses over a period described in court filings as "massive" and "years-long."
The duration of the breach — spanning multiple years before detection — indicates a failure in data security monitoring and incident response. For an insurance company holding some of the most sensitive categories of personal information (SSNs, license numbers, driving records, claims history), the extended exposure window represents a systemic data governance failure rather than an isolated incident.
In 2025, Progressive settled a $48 million class-action lawsuit over vehicle "total loss" valuation practices. The suit alleged Progressive systematically undervalued totaled vehicles to underpay policyholders, reducing claim payouts below fair market value.
Separately, Progressive settled with 23 salaried claims processors for $771,912 in 2023, resolving allegations of unpaid overtime under the Fair Labor Standards Act. The FLSA case, handled by Lytle & Barszcz, documented misclassification of employees to avoid labor costs — the workers processing the undervalued claims were themselves being underpaid.
Progressive also paid $3.25 million to settle a data breach lawsuit (2024-2025) following a "massive, years-long" breach involving unauthorized access to Social Security numbers and driver's licenses.
Progressive settled with 23 salaried claims processors for $771,912 in 2023, resolving allegations of unpaid overtime under the Fair Labor Standards Act. The case, handled by Lytle & Barszcz, documented that claims processors were misclassified as exempt employees to avoid overtime pay obligations.
The workers affected were the same staff processing the "total loss" vehicle valuations at the center of Progressive's $48 million consumer class-action settlement. The claims processors implementing the undervaluation methodology were themselves being underpaid through misclassification — cost extraction applied to both customers and workers simultaneously.
Related Exclusions
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.