Progressive Insurance

Progressive Insurance
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
440- 461-5000

Progressive Insurance was established on the 10th of March 1937 by lawyers Joseph Lewis and Jack Green. The Company’s mission was to provide automobile owners with insurance and protection that only Insurance Company can provide. Believing, at the time, was the best investment to make, they formed the Company. Today, Progressive Insurance has become one of the largest Automobile Insurance providers in the United States. The Company’s corporate headquarters is located in Mayfield Village, Ohio.

Progressive Insurance operates in three segments: Personal Lines, Commercial Auto and Other Indemnity. Starting with less than 100 employees, the Company has now grown to over 27,000 employees and a network of 30,000 local independent professionals responsible for marketing and selling the company’s products and services. Internet/Online and Phone purchase are also used in the promotion and selling of these products. Customers can select from a wide selection of programs offered by the company based on their individual needs and ability to pay. The Company also offers personal watercraft/boat insurance, commercial automobile/RV/motorcycle insurance, Segway and homeowners insurance.

Through the years, Progressive insurance has initiated innovative approaches to the automobile insurance industry. The Company was the first to offer drive-in-claims to customers long before any other insurance company ever had. Progressive Insurance also provides policy insurance and claims servicing to 25 states for Commercial Auto Insurance Policies. In September 2007, the Company started to provide Pet Injury insurance, providing coverage for animals such as cats and dogs injured in an automobile accident at no extra cost with Collision Coverage. In 2009, the company started selling automobile insurance in Australia.

Progressive Insurance is well known for their unique marketing concept of offering both quotes of competitors along with theirs. The Company’s growth continued over the years and in 1971, the Company decided to go public. The New York Stock Exchange, in 1987, listed the stocks of the Company under the ticker symbol PGR.

In December 2009, A.M. Best Co. provided an A+ (Superior) rating to the Company with a stable outlook. Fitch also views the Company as one of the strongest underwriters among major property/casualty insurance companies in the United States and risk-based capital ratios of the Company continue to look very strong.

Mr. Glenn M. Renwick is the President and Chief Executive Officer of the Progressive Insurance. His responsibilities include establishing and upholding the core values and financial objectives of the organization and to help in the strategic planning and communication of its corporate leaders. Mr. Peter B. Lewis is the company’s Chairman of the Board. He became CEO of the corporation when it was incorporated in 1965. He currently leads the Board of Directors in overseeing the company’s operations. Mr. John Barbagallo serves as the Company’s Commercial Lines Group President. He is responsible for the Commercial Car Insurance Offerings and Development. Mr. Bill Cody is the Chief Investment Officer. He joined the Company in 1996 bringing with him eight years of trading experience with financial firms in New York. He has a bachelor’s degree in Chemical Engineering from the State University of New York.