GEICO announces closure of California operations due to economic challenges

The announcement

One of the biggest insurers in the U.S., GEICO, has announced the closure of all its California locations. The company cites economic challenges as the reason behind the decision. The move will result in over 100 employees losing their jobs. The affected employees will receive severance packages in accordance with GEICO's policy.

Impact on customers

The closure of GEICO's California locations will have a significant impact on its customers in the state. Existing customers will need to contact the company through its call center or online support for assistance. New customers can purchase policies through GEICO's website or independent agents. Despite the closures, GEICO has stated that it will continue to provide insurance coverage to policyholders in California.