Tricia Griffith

Amid record-high inflation, Progressive is hitting a few bumps in the road. The insurer Griffith has led since 2016 has responded to soaring car values by raising rates on its personal auto insurance policies—but as a result, fewer people are applying for its products. Now the company has dipped into the red: Progressive swung to a loss of $229 million in the first half of 2022, while revenue remained flat compared with the same period a year earlier.