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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 ...
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In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
Prior to being named CEO, Griffith served as Progressive's Personal Lines Chief Operating Officer since April, 2015, overseeing Progressive's Personal Lines, Claims, and Customer Relationship Management groups. Griffith joined Progressive as a Claims Representative in 1988 and has served in many key leadership positions during her tenure.
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In June 2010, Progressive Auto Insurance filed a patent infringement lawsuit against Liberty Mutual over one of Progressive's Pay As You Drive auto insurance patents. [ 12 ] In September 2010 Progressive Auto Insurance filed a declaratory judgment lawsuit against Hughes Telematics to have several its patents covering OBDII mounted wireless data ...
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