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Progressive was formed in 1937 by Joseph Lewis and Jack Green as Progressive Mutual Insurance Company. [5] In 1956, the company found a niche by insuring more risky drivers. In 1965, Peter B. Lewis, son of Joseph Lewis, and his mother borrowed $2.5 million, pledging their majority stake as collateral, and completed a leveraged buyout of ...
Condominium buildings with roofs too old or too damaged to qualify for insurance will get some relief — the state’s insurer of last resort has agreed to cover the buildings if certain ...
Personal property coverage. Personal property coverage is the same for all three types of home insurance, but the base amount built into the policy is different. In a homeowners policy, the ...
After builder risk coverage expires, due to sale or occupancy, the new owner typically obtains permanent property insurance on the building such as a home owner's policy or a commercial property policy. Insurance costs generally run between one and four percent of the construction cost, depending upon the type of insurance purchased and ...
Think about what coverage you need: Consider what kinds of insurance you need. For example, if you have company vehicles, you'll likely need commercial auto coverage in addition to general ...
For example, a landlord in a commercial building will often require that a tenant have the landlord named as an additional insured on the tenant's insurance policies. [5] In this manner, if there is an accident or loss on the tenant's premises (such as a fall or a fire), then the landlord will enjoy the benefits of the tenant's insurance coverage.
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