Progressive CEO Touts Progress in Some PIP-Battered States Insurance News Net (press release)
11.08.11
Said despite the recent downgrade by Standard & Poor's of the long-term sovereign credit rating, the company still feels "really confident we'll receive all our timely interest and principal payments on the treasury portfolio." Adding up the cash in its treasury portfolio, Cody said, it's roughly 30% of Progressive's fixed income portfolio, "which is substantial; and that honestly feels pretty good to us about now as we're seeing a little bit more turmoil. That may give us some dry powder if there are some opportunities down the road."
Renwick said the company has begun branding work on Snapshot-- its pay-as-you-drive program. "We think the branding work we've done and a couple of new ads that are yet to air continue to allow us to own that space, and that was very important to us; on a personal and a best-as-we-can determine objective measure. We've yet to really describe Snapshot to the consuming public as much as we'll ultimately need to."
The take-up rate in the direct channel
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bNJ Auto Insurance/b Question – Three Drivers – Three Different Cars b.../b
I live with my parents who each drive their own car and both cars and drivers are listed on my dad’s policy. I financed a car and have my own insurance with a different company (a bit cheaper than theirs) and im looking to change my insurance company. One of my parents recently had their license suspended and when i called to another insurance company to get a quote they told me they couldn’t write the policy because of the other driver’s suspension. If the car is in my name and no one else drives it but me because they each have their own car and their own insurance, why wont the insurance company write the policy for me?
Best answer:
Answer by iwingameover You can have that driver excluded from your policy. All licensed drivers in a household are supposed to be listed on your policy. However some can be excluded and must not drive the car they are excluded from. Often this happens when parents have a fast/expensive car and teen drivers are at home. The teen can be exluded thus keeping the rates lower.
Add your own answer in the comments!
This happens because your parent is in your household and has ACCESS to your vehicle ((s)he does not need to have express permission to drive it because (s)he is a resident relative). Because this person is a resident relative, your company would have to by law cover him or her & also you (as the owner) in the event he used your car & had an accident.
