High Gas Good for Progressive ; Less Driving Translating into Fewer Accidents

Progressive Corp., the third-biggest U.S. auto insurer, stands to benefit from record gasoline prices and a slowing economy as fewer drivers take to the roads.With gas prices above $4 a gallon and the unemployment rate hovering at the highest point in almost four years, Americans are driving less for the first time since 1980, data compiled by the Federal Highway Administration show. The rate of accidents per insured vehicle fell 0.5 percent in the first quarter from a year earlier after increasing in 2007, according to Insurance Services Office Inc. in Jersey City.....

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