tion, the company introduced the Platinum product, which is a home and auto insurance combined offering that provides the agents a single offering with compensation, coordinated policy periods, single event deductible, and other features that meet the needs and desires that its agents have expressed. Commercial Lines This segment writes primary liability and physical damage insurance for automobiles and trucks owned and/or operated predominantly by small businesses through both the independent agency and direct channels. The company offers products in 49 states. Its Commercial Lines customers on average insure approximately two vehicles. The Commercial Lines business operates in various business market targets. Business Auto – autos, vans, and pick-up trucks used by small businesses, such as retailing, farming, services, and private trucking. For-Hire Transportation – tractors, trailers, and straight trucks primarily used by regional general freight and expeditor-type businesses and non-fleet long-haul operators. Contractor – vans, pick-up trucks, and dump trucks used by small businesses, such as artisans, heavy construction, and landscapers/snowplowers. For-Hire Specialty – dump trucks, log trucks, and garbage trucks used by dirt, sand and gravel, logging, and coal-type businesses. Tow – tow trucks and wreckers used in towing services and gas/service station businesses. For-hire livery – non-fleet (i.e., five or fewer vehicles) taxis, black-car services, and airport taxis. Property This segment specializes in personal and commercial property insurance, personal umbrella insurance, and primary and excess flood insurance. The company’s Property business writes homeowners and renters insurance, primarily in the Agency channel in 31 states and the District of Columbia for personal property insurance and in 4 states for commercial property insurance. It also writes flood insurance in 37 states and D.C. Property policies are generally written on a 12-month basis. The commercial business principally includes insurance covering real estate owned by condominium and homeowners associations and similar entities, as well as apartment complexes. For 2015, Texas and Florida comprised just over half of the company’s Property business based on premium volume. Other Indemnity The company’s other indemnity businesses consist of managing its run-off businesses, including the run-off of its professional liability business. Service Businesses Commercial Auto Insurance Procedures/Plans (CAIP): The company is the servicing carrier on a nationwide basis for CAIP plans, which are state-supervised plans servicing the involuntary market in 41 states and the District of Columbia. As a service provider, it provides policy issuance and claims adjusting services and collects fee revenue that is earned on a pro rata basis over the terms of the related policies. The company has an agreement with AIPSO (the national organization responsible for administering the involuntary insurance market) under which it would receive a supplemental fee, when necessary, to satisfy a minimum servicing fee requirement; this agreement is scheduled to expire on August 31, 2018. Commission-Based Businesses: The company has two commission-based service businesses. In its Direct business, through Progressive Home Advantage, the company offers home, condominium, and renters insurance, among other products, written by unaffiliated insurance companies on a nationwide basis. The company receives commissions for policies written under this program, all of which are used to offset the expenses associated with maintaining this program. Through Progressive Commercial Advantage, the company offers its customers the ability to package their auto coverage with other commercial coverages that are written by unaffiliated insurance companies or placed with additional companies through unaffiliated insurance agencies. This program offers general liability and business owners policies throughout the continental United States and workers’ compensation coverage in 44 states as of December 31, 2015. Claims The company manages its vehic
progressive corp (PGR:New York)
6300 Wilson Mills Road
Mayfield Village, OH 44143
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