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February 09, 2016 1:24 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: 58
Chairman and Group Chief Risk Officer of Zurich Insurance Group AG
Age: 56
Chief Financial Officer and Executive Vice President
Chief Operations Officer
Senior Vice President, Director and President of Farmers Business Insurance
Age: 70
Compensation as of Fiscal Year 2015.

Farmers Group, Inc. Key Developments

Farmers Insurance to Expand its Operations in Phoenix

Farmers Insurance announced that it plans to significantly expand its operations in Phoenix which could eventually raise its employee base from approximately 500 full-time employees to more than 1,500 employees. As currently envisioned, staffing for the new jobs will occur in phases and could ultimately triple the number of full-time Farmers positions in the Phoenix area. The first group of employees could begin working in the new building by early next year. The new Farmers building will be used by the organization to provide operational support for its customers and agents across the country. Members of the Farmers Claims team will also be located in the new facility.

Farmers Insurance Introduces New Rideshare Insurance Coverage in Oklahoma

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 Oklahoma, beginning January 4, 2016. Farmers worked with representatives of the Oklahoma Insurance Department, legislators and leaders of Transportation Network Companies (TNCs) to develop a product specifically designed for ride-hailing drivers and make available a type of insurance coverage specified in Oklahoma's new ride-hailing law. Under the new Oklahoma 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. Beginning January 4, 2016, the Farmers Rideshare Insurance Coverage can provide Farmers customers coverage when a driver turns on the ride-hailing application and during the time the driver is awaiting a match. The Farmers Rideshare Insurance Coverage will extend a driver's Farmers auto insurance coverage until they accept a ride, at which point their TNC affiliate's commercial insurance coverage would apply. Farmers Rideshare Insurance Coverage enables a driver to select the coverage that fits their needs; including comprehensive and collision coverage that can pay for damages to their own vehicle, uninsured/underinsured motorist coverage (in case they are hit by a driver who isn't insured or is underinsured), and Medical Payments coverage. While coverage choices and premiums will vary by individual, the additional coverage provided by the Farmers Rideshare Insurance Coverage endorsement will generally add approximately $15 per month to a customer's premium.

Farmers Insurance Names Leesa Eichberger as New Head of Brand and Sponsorships, Effective January 4, 2016

Farmers Insurance announced it selected Leesa Eichberger, an experienced and marketer, to lead its Brand and Sponsorships unit. She will begin in her new role on January 4, 2016. As the new Head of Brand and Sponsorships, Eichberger will be part of the insurer's marketing leadership team and will oversee the continued development of the insurer's brand, while providing leadership and strategic insight over its sponsorship investments. Most recently, Eichberger was chief marketing officer, North America for Jenny Craig International, where she led a strategic overhaul of the organization's marketing efforts. She also previously served as vice president of marketing for Vonage.

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