Mutual of America Capital Management LLC Boosts Position in Progressive Corporation (The) (PGR)

Mutual of America Capital Management LLC increased its holdings in Progressive Corporation (The) (NYSE:PGR) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,827 shares of the insurance provider’s stock after purchasing an additional 3,240 shares during the period. Mutual of America Capital Management LLC’s holdings in Progressive Corporation (The) were worth $5,608,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Progressive Corporation (The) by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 38,642,819 shares of the insurance provider’s stock valued at $1,703,762,000 after purchasing an additional 1,091,051 shares during the last quarter. BlackRock Inc. increased its position in shares of Progressive Corporation (The) by 1.8% during the 2nd quarter. BlackRock Inc. now owns 36,533,106 shares of the insurance provider’s stock valued at $1,610,745,000 after purchasing an additional 636,087 shares during the last quarter. State Street Corp increased its position in shares of Progressive Corporation (The) by 1.4% during the 1st quarter. State Street Corp now owns 26,996,546 shares of the insurance provider’s stock valued at $1,057,724,000 after purchasing an additional 372,478 shares during the last quarter. Longview Partners Guernsey LTD increased its position in shares of Progressive Corporation (The) by 5.6% during the 2nd quarter. Longview Partners Guernsey LTD now owns 19,547,018 shares of the insurance provider’s stock valued at $861,828,000 after purchasing an additional 1,035,246 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of Progressive Corporation (The) by 40.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 11,586,365 shares of the insurance provider’s stock valued at $510,843,000 after purchasing an additional 3,332,180 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Several equities analysts have commented on PGR shares. ValuEngine raised Progressive Corporation (The) from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Wells Fargo & Company reissued a “hold” rating and set a $45.00 price target on shares of Progressive Corporation (The) in a research report on Tuesday, July 18th. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price target (up previously from $40.00) on shares of Progressive Corporation (The) in a research report on Friday, July 7th. Credit Suisse Group raised Progressive Corporation (The) from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $42.00 to $48.00 in a research report on Wednesday, September 20th. Finally, FBR & Co upped their price objective on Progressive Corporation (The) from $36.00 to $40.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Progressive Corporation (The) currently has an average rating of “Hold” and a consensus target price of $46.44.

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In related news, CFO John P. Sauerland sold 50,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $48.65, for a total value of $2,432,500.00. Following the completion of the sale, the chief financial officer now directly owns 370,364 shares in the company, valued at approximately $18,018,208.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey W. Basch sold 9,000 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total value of $434,070.00. Following the completion of the sale, the insider now owns 70,965 shares of the company’s stock, valued at $3,422,641.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,250 shares of company stock valued at $4,923,983. 0.56% of the stock is owned by insiders.

Shares of Progressive Corporation (NYSE:PGR) opened at 48.825 on Wednesday. The company’s 50-day moving average price is $48.29 and its 200 day moving average price is $45.22. The firm has a market capitalization of $28.37 billion, a price-to-earnings ratio of 20.777 and a beta of 0.87. Progressive Corporation has a 12-month low of $30.99 and a 12-month high of $49.75.

Progressive Corporation (The) (NYSE:PGR) last issued its earnings results on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.04 billion. Progressive Corporation (The) had a return on equity of 15.40% and a net margin of 5.41%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. On average, equities research analysts forecast that Progressive Corporation will post $2.35 EPS for the current fiscal year.

Progressive Corporation (The) Company Profile

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

Institutional Ownership by Quarter for Progressive Corporation (The) (NYSE:PGR)

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Progressive Corporation (The) (PGR) Insider Jeffrey W. Basch Sells 9,000 Shares

Progressive Corporation (The) (NYSE:PGR) insider Jeffrey W. Basch sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total value of $434,070.00. Following the completion of the transaction, the insider now owns 70,965 shares in the company, valued at approximately $3,422,641.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Progressive Corporation (NYSE PGR) traded down 0.153% during mid-day trading on Monday, hitting $48.825. 576,634 shares of the stock were exchanged. The firm has a market capitalization of $28.37 billion, a price-to-earnings ratio of 20.777 and a beta of 0.87. The company’s 50-day moving average price is $48.14 and its 200 day moving average price is $45.04. Progressive Corporation has a 52 week low of $30.99 and a 52 week high of $49.75.

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings data on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Progressive Corporation (The) had a net margin of 5.41% and a return on equity of 15.40%. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.04 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. The company’s revenue was up 18.1% compared to the same quarter last year. Equities research analysts expect that Progressive Corporation will post $2.35 EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the stock. National Planning Corp raised its position in Progressive Corporation (The) by 28.0% in the 2nd quarter. National Planning Corp now owns 9,125 shares of the insurance provider’s stock valued at $404,000 after purchasing an additional 1,995 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Progressive Corporation (The) by 1.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,038,766 shares of the insurance provider’s stock worth $310,340,000 after purchasing an additional 79,773 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Progressive Corporation (The) by 126.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 96,585 shares of the insurance provider’s stock worth $4,677,000 after purchasing an additional 53,917 shares during the period. Vanguard Group Inc. grew its stake in shares of Progressive Corporation (The) by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 37,551,768 shares of the insurance provider’s stock worth $1,471,278,000 after purchasing an additional 1,357,926 shares during the period. Finally, Martingale Asset Management L P grew its stake in shares of Progressive Corporation (The) by 7.4% during the 2nd quarter. Martingale Asset Management L P now owns 678,437 shares of the insurance provider’s stock worth $29,913,000 after purchasing an additional 47,002 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Several equities research analysts have issued reports on PGR shares. Barclays PLC increased their price objective on Progressive Corporation (The) from $35.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday, July 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $43.00 price objective (up previously from $40.00) on shares of Progressive Corporation (The) in a research report on Friday, July 7th. FBR & Co increased their price objective on Progressive Corporation (The) from $36.00 to $40.00 and gave the stock a “mkt perform” rating in a research report on Tuesday, July 11th. UBS AG raised Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Finally, Raymond James Financial, Inc. raised Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $45.00 to $52.00 in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Progressive Corporation (The) presently has a consensus rating of “Hold” and a consensus price target of $46.44.

About Progressive Corporation (The)

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

Insider Buying and Selling by Quarter for Progressive Corporation (The) (NYSE:PGR)




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NMMA reports Tampa Boat Show attendance increase

The Progressive Insurance Tampa Boat Show, produced by the National Marine Manufacturers Association (NMMA), wrapped up Sunday, Oct. 15, with a final attendance of 18,561, up 12 percent from 2015, the last time the show was held during October.

The show dates were moved to October from their traditional September dates due to an abundance of caution surrounding Hurricane Irma. Initial reports out of the show were of strong sales and quality crowds.

This year’s show was also the test site for NMMA’s new boat and sport show lead generation and consumer engagement platform, Boater Pass, which saw success among attendees and exhibitors.

“We had a successful show despite the change in dates, with a 12 percent increase in attendance comparative to other shows held in October,” said Kevin Murphy, show manager, Progressive Insurance Tampa Boat Show. “We heard from many exhibitors that the weekend was full of quality crowds filled with serious buyers.”

Feedback from exhibitors was positive, with many reporting strong sales and quality attendees.

“We had a fantastic show—there was great traffic all three days, said Steve Wacker, Thunder Marine. “We were thrilled that the crowds came out even after the date change due to the Hurricane and as a result of the buying crowd the show attracted and NMMA’s new Boater Pass, we’re confident we’ll close several more deals after the show.”

New this year, NMMA partnered with FISH Technologies to launch the Boater Pass program. Boater Pass is a lead generation and consumer engagement platform that attendees register for onsite, online or by downloading the My Boater Pass app.

By registering for their Boater Pass, attendees are able to collect information on products and exhibitors throughout the show, scan at instant win prize towers, and share their information quickly by having their Boater Pass scanned by an exhibitor.

“We were able to leverage the Boater Pass program to provide us and our exhibitors’ rich insights into our show attendees while at the same time giving the consumer an improved and gamified show experience,” said Jennifer Thompson, vice president of consumer and trade events for NMMA. ”The Boater Pass program allows us to better track consumer behavior, understand attendees’ expressed and inferred interests, and then use that knowledge in real-time to marry buyers with our exhibitors—all while providing our exhibitors a new way to engage and qualify leads.”

Exhibitors using the Engage App from FISH Technologies had the ability to scan an attendee’s Boater Pass QR code and instantly know their contact details, boat ownership status, intent to purchase and more. They were then able to save those leads and add their own notes for follow-up—all with a simple easy-to-use app.

“The Boater Pass program is a game changer for the industry and the future of boat shows,” said Steve Heese, president of Chris-Craft. “In Tampa, our team was able to quickly qualify leads, making the time spent at the show more efficient for us and for our prospective customers, resulting in a great show for our dealers.”

NMMA and FISH Technologies have entered into an agreement to bring the Boater Pass program to the upcoming Progressive Insurance Miami International Boat Show.

For more information on Boater Pass and how to get onboard for the upcoming Miami show, contact Jennifer Thompson at jthompson@nmma.org or Mike Gilvar with FISH Technologies at mgilvar@fishisdata.com.

Progressive Corporation (The) (PGR) Expected to Earn FY2017 Earnings of $2.53 Per Share

Progressive Corporation (The) (NYSE:PGR) – Analysts at William Blair decreased their FY2017 earnings estimates for Progressive Corporation (The) in a research note issued on Tuesday. William Blair analyst A. Klauber now anticipates that the insurance provider will post earnings per share of $2.53 for the year, down from their prior forecast of $2.58.

Several other equities research analysts also recently issued reports on the stock. ValuEngine raised shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Wells Fargo & Company reissued a “hold” rating and set a $45.00 price objective on shares of Progressive Corporation (The) in a research report on Tuesday, July 18th. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price objective (up previously from $40.00) on shares of Progressive Corporation (The) in a research report on Friday, July 7th. Credit Suisse Group raised shares of Progressive Corporation (The) from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $42.00 to $48.00 in a research report on Wednesday, September 20th. Finally, Barclays PLC increased their price objective on shares of Progressive Corporation (The) from $35.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $46.44.

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Shares of Progressive Corporation (NYSE:PGR) opened at 48.91 on Friday. The firm’s 50 day moving average is $47.62 and its 200-day moving average is $44.70. Progressive Corporation has a 52 week low of $30.99 and a 52 week high of $49.75. The firm has a market cap of $28.42 billion, a price-to-earnings ratio of 20.81 and a beta of 0.87.

Progressive Corporation (The) (NYSE:PGR) last issued its earnings results on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $7.04 billion. Progressive Corporation (The) had a net margin of 5.41% and a return on equity of 15.40%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS.

In other Progressive Corporation (The) news, insider Steven Broz sold 1,250 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $48.73, for a total value of $60,912.50. Following the completion of the sale, the insider now owns 12,181 shares in the company, valued at $593,580.13. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey W. Basch sold 9,000 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total transaction of $434,070.00. Following the completion of the sale, the insider now owns 70,965 shares of the company’s stock, valued at approximately $3,422,641.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,250 shares of company stock valued at $4,630,583. Corporate insiders own 0.56% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PGR. Mckinley Capital Management LLC Delaware acquired a new stake in Progressive Corporation (The) in the second quarter valued at $101,000. Cypress Capital Management LLC WY acquired a new stake in Progressive Corporation (The) in the second quarter valued at $106,000. IFP Advisors Inc lifted its stake in Progressive Corporation (The) by 12.9% in the second quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock valued at $132,000 after acquiring an additional 341 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in Progressive Corporation (The) in the second quarter valued at $143,000. Finally, Cornerstone Advisors Inc. lifted its stake in Progressive Corporation (The) by 4.1% in the second quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock valued at $150,000 after acquiring an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 79.38% of the company’s stock.

Progressive Corporation (The) Company Profile

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

Earnings History and Estimates for Progressive Corporation (The) (NYSE:PGR)




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Langen Mcalenn Weighs in on Progressive Corporation (The)’s FY2017 Earnings (PGR)

Progressive Corporation (The) (NYSE:PGR) – Equities researchers at Langen Mcalenn lifted their FY2017 earnings estimates for Progressive Corporation (The) in a report released on Wednesday. Langen Mcalenn analyst R. Glasspiegel now expects that the insurance provider will post earnings per share of $2.40 for the year, up from their previous forecast of $2.35. Langen Mcalenn also issued estimates for Progressive Corporation (The)’s Q3 2018 earnings at $0.60 EPS, Q4 2018 earnings at $0.81 EPS and FY2018 earnings at $2.85 EPS.

A number of other brokerages have also issued reports on PGR. ValuEngine lowered Progressive Corporation (The) from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Wells Fargo & Co set a $47.00 target price on Progressive Corporation (The) and gave the company a “hold” rating in a research report on Tuesday. FBR & Co reissued a “hold” rating on shares of Progressive Corporation (The) in a research report on Tuesday. Citigroup Inc. lifted their target price on Progressive Corporation (The) from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Finally, Barclays PLC lifted their target price on Progressive Corporation (The) from $41.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $46.44.

WARNING: “Langen Mcalenn Weighs in on Progressive Corporation (The)’s FY2017 Earnings (PGR)” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://ledgergazette.com/2017/10/29/langen-mcalenn-weighs-in-on-progressive-corporation-thes-fy2017-earnings-pgr.html.

Progressive Corporation (NYSE:PGR) traded up 0.39% during trading on Thursday, reaching $48.88. The company had a trading volume of 1,176,350 shares. The company has a 50 day moving average price of $47.55 and a 200 day moving average price of $44.63. The company has a market capitalization of $28.40 billion, a PE ratio of 20.80 and a beta of 0.87. Progressive Corporation has a 52-week low of $30.99 and a 52-week high of $49.75.

Progressive Corporation (The) (NYSE:PGR) last released its quarterly earnings data on Tuesday, October 17th. The insurance provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Progressive Corporation (The) had a return on equity of 15.40% and a net margin of 5.41%. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.04 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis.

In other news, insider Steven Broz sold 1,250 shares of Progressive Corporation (The) stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $48.73, for a total transaction of $60,912.50. Following the completion of the transaction, the insider now directly owns 12,181 shares in the company, valued at approximately $593,580.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Susan Patricia Griffith sold 35,000 shares of Progressive Corporation (The) stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $48.66, for a total value of $1,703,100.00. Following the transaction, the insider now owns 221,715 shares of the company’s stock, valued at $10,788,651.90. The disclosure for this sale can be found here. Insiders have sold a total of 86,250 shares of company stock worth $4,196,513 in the last ninety days. Insiders own 0.56% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning boosted its stake in shares of Progressive Corporation (The) by 0.4% during the 2nd quarter. Creative Planning now owns 5,723 shares of the insurance provider’s stock worth $252,000 after acquiring an additional 23 shares during the period. Financial Architects Inc boosted its stake in shares of Progressive Corporation (The) by 0.4% during the 2nd quarter. Financial Architects Inc now owns 18,187 shares of the insurance provider’s stock worth $801,000 after acquiring an additional 65 shares during the period. ING Groep NV boosted its stake in shares of Progressive Corporation (The) by 0.3% during the 2nd quarter. ING Groep NV now owns 39,707 shares of the insurance provider’s stock worth $1,751,000 after acquiring an additional 112 shares during the period. Weatherly Asset Management L. P. boosted its stake in shares of Progressive Corporation (The) by 1.8% during the 2nd quarter. Weatherly Asset Management L. P. now owns 7,320 shares of the insurance provider’s stock worth $323,000 after acquiring an additional 130 shares during the period. Finally, Cornerstone Advisors Inc. boosted its stake in shares of Progressive Corporation (The) by 4.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock worth $150,000 after acquiring an additional 133 shares during the period. Institutional investors own 79.38% of the company’s stock.

About Progressive Corporation (The)

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

Earnings History and Estimates for Progressive Corporation (The) (NYSE:PGR)

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1999 AMA Superbikes Sears Point


America Motorcycle Association Superbike Championship
1999 Progressive Insurance Challenge
Round 04
Sears Point International Raceway
Sonoma California

Drivers beware: you may not be covered by insurance when using car for work purposes | Local

SOUTH BEND — Vicki Caturla is warning people about what she calls a “dirty little secret” in the auto insurance industry that she found out about the hard way.

She learned about a pitfall in her comprehensive auto plan with Progressive Insurance after her 26-year-old son, Alex, was involved in a hit-and-run car accident recently while delivering pizzas for Domino’s in South Bend.

Because her son was working during the accident, the policy didn’t cover the damages.

The crash happened while he was driving her 2008 Nissan Versa at about 3 a.m. on Saturday, Oct. 14.

He’d stopped for a red light at the intersection of Edison Road and Ironwood Drive. A vehicle headed north on Ironwood, made a wide turn on Edison and struck the vehicle, fleeing the scene. No witnesses were present, and police didn’t find the suspect.

The driver’s side of her vehicle was considerably damaged, Caturla said, and her son had a long cut on his arm that required stitches.

Originally, Caturla assumed her auto plan would cover the damages. But that was before Progressive discovered her son was delivering pizzas when the accident occurred.

“They said since my son was delivering pizzas, it’s an exclusion,” said Caturla, who is upset she never knew about the rules. “Thousands of people living from paycheck to paycheck could have the same thing happen to them. It’s a dirty little secret because no one ever says you need to have commercial insurance” to drive your vehicle for work purposes.

The 66-year-old widow, who works at the Hammes Notre Dame Bookstore, is disappointed that Progressive didn’t acknowledge she made an honest mistake and step in to help.

Such exclusions are a normal part of auto policies, said Kevin Dennis, owner of an independent insurance agency in Mishawaka. They deny coverage for accidents that happen while otherwise-covered individuals are using their own vehicles for business purposes.

Dennis said commercial insurance is typically needed for those who want their vehicles insured while using them for work. Exclusions in normal plans leave those who deliver pizza, food and products, such as newspapers and magazines, on the hook for covering accident costs. Oftentimes, people don’t read the fine print in contracts.

“I agree 100 percent that most people don’t realize this is the policy,” he said. “And I think a lot of employers aren’t steering people to the proper insurance they need for business use.”

Commercial insurance also protects drivers for ride-sharing companies, such as Uber and Lyft, but there are more affordable options available. Dennis said some insurance companies offer special policies that can be added to normal plans for ride-sharing drivers.

“There are (add-on) polices for Uber and Lyft that cost $30 per year,” he said.

Dennis said those who deliver food and other products, however, need commercial insurance. The price for those plans can vary widely, depending on one’s driving record. For an adult with a clean driving record, for example, it could be as much as a normal plan.

Dennis thinks restaurants, in particular, should do a better job informing employees about commercial insurance.

“Personally, I think a lot of places don’t tell employees. Or they school them to say they are not working if there’s an accident,” he said. “That’s where my frustration is.”

Sometimes, he said, insurance carriers will make exceptions and provide accident coverage for those who mistakenly don’t have commercial insurance.

But that wasn’t the case for Caturla, who is trying to climb out of a financial rut.

She owes a local towing company $165 for removing her car from the accident scene. And while she hopes Domino’s will cover her son’s medical bills, the outcome is uncertain.

“It’s a nightmare that doesn’t stop,” she said.

A spokesman from Progressive declined to comment Thursday because he said more information would be needed about the case to do so. A spokesperson from the Indiana Department of Insurance didn’t return a call seeking comment.