August 25, 2016 4:06 AM ET

Insurance

Company Overview of Farmers Group, Inc.

Company Overview

Farmers Group, Inc., doing business as Farmers Underwriters Association, operates as a multiline insurer in the United States. The company provides auto and recreation insurance, including auto, collectible auto, motorcycle, boat, travel trailer, and motor home insurance; and home insurance, such as homeowner, renters, condo, mobile home, and specialty home insurance. It also offers life and financial insurance that includes term life and whole life insurance, annuities, and mutual funds; and business insurance, including business liability, professional service, auto service/repair, and business umbrella insurance products. In addition, the company provides mobile homes, travel trailers, an...

6301 Owensmouth Avenue

Woodland Hills, CA 91367

United States

Founded in 1927

7,935 Employees

Phone:

323-932-3200

Fax:

323-932-3101

Key Executives for Farmers Group, Inc.

Chief Executive Officer and President
Age: 59
Chairman and Group Chief Risk Officer of Zurich Insurance Group AG
Age: 57
Chief Financial Officer and Executive Vice President
Chief Operations Officer
Senior Vice President, Director and President of Farmers Business Insurance
Age: 71
Compensation as of Fiscal Year 2016.

Farmers Group, Inc. Key Developments

Farmers Insurance to Begin Offering Rideshare Insurance Coverage for Ride-Hailing Drivers in Montana

Farmers Insurance announced the introduction of its new Rideshare Insurance Coverage, which is designed to make Rideshare Insurance Coverage options available for ride-hailing drivers in Montana. Under the new Montana law, ride-hailing drivers will be required to have insurance coverage from the moment they turn on their rideshare app. Since personal automobile insurance policies generally were not designed to provide ride-hailing drivers with coverage while they are working, the introduction of this new coverage will help to fill a potential gap in coverage.

eFarmers Insurance Announces Management Changes

Farmers Insurance announced that Tim Madden, current president of Bristol West, will take on a new role as personal lines chief product officer for the company, where his 40 years of industry experience will serve as a strong foundation as he continues to innovate and drive initiatives to maintain profitable growth and raise customer retention. In his new role, Madden will report to Roy Smith, president of personal lines at the company. Sharon Fernandez, head of service operations for the company, will step into Madden's role as president of Bristol West. Fernandez has been with the company for eight years, building on her previous 20 years of insurance and financial services experience. In her new role, she will leverage her experience delivering improved customer experience and efficiency through continuous improvement for the Bristol West enterprise to further the brand's efforts in this area. Fernandez will report to Steve Boshoven, president of the Foremost brand. Chanda Sperry, leader of the service operations strategy team, will use her 10 years as an outstanding service operations leader to offer new insight as she assumes the role of head of service operations for the company, replacing Fernandez. Sperry's commitment to customer satisfaction will help her drive continued success in leading customer experience enhancements at the company. She will report to David Travers, chief operating officer for the company.

Farmers Insurance® Offers Innovative New Food Truck Insurance Product in Utah

Farmers Insurance® announced the launch of an innovative food truck insurance policy in Utah, marking the company's first official foray into the growing food truck insurance marketplace. Through its new offering, Farmers® has begun to offer licensed food truck owners a single policy that combines commercial automobile coverage for their truck with a restaurant business owner policy. The innovative Farmers food truck policy will offer food truck owners the option to obtain coverage for their truck or a truck attached to the stand-alone store. Currently, food truck owners are often left to work with a complex mixture of separate policies, including commercial auto, business owner and restaurant policies provided by different insurers. By combining these disparate coverages into a single food truck policy, mobile food entrepreneurs now have the option to select one policy for their food business on wheels. With this new policy offering, Farmers aims to solve the growing need for a single food truck policy that combines the elements of a restaurant, business owner and commercial auto policy into one.

Similar Private Companies By Industry

Company Name Region
212 Capital Group, LLC United States
21st Century Life and Health Company, Inc. United States
3 Mark Financial, Inc. United States
534 Las Americas, LLC United States
A and H Insurance, Inc. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Bloomberg L.P. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Farmers Group, Inc., please visit www.farmers.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.