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Protective Insurance's Business Segments
Protective Insurance's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q3 FY2020
Reportable Segments
1
Largest Segment
Property and Casualty Insurance Segment
Total Revenue
$ 141
Regions Reported
-
Revenue Share by Reportable Segment - Q3 FY2020
- Property and Casualty Insurance Segment100%
Revenue by Reportable Segment - Q3 FY2020
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Property and Casualty Insurance Segment | $ 141 | 100% |
Description of Protective Insurance
Protective Insurance Corporation is a specialized insurance company that primarily specializes in providing property and casualty insurance products and services. With a history dating back over 90 years, the company has established a strong reputation for its underwriting expertise, financial strength, and commitment to customer satisfaction.
As a property and casualty insurer, Protective Insurance Corporation offers a wide range of insurance coverages to individuals, businesses, and organizations. These coverages include auto insurance, commercial transportation insurance, fleet insurance, excess and surplus lines insurance, workers' compensation insurance, and general liability insurance.
One of the main sectors that Protective Insurance Corporation serves is the transportation industry. They have a deep understanding of the unique risks faced by trucking companies, commercial motor vehicles, and transportation contractors. They provide tailored insurance solutions to meet the specific needs of their clients in this industry, addressing risks such as accidents, injuries, property damage, cargo theft, and legal liabilities.
The company operates through a network of agents and brokers, ensuring a personalized and localized approach to insurance services. These intermediaries work closely with clients to assess their risks, determine appropriate coverage, and provide ongoing support throughout the policy period. The company prides itself on its customer-centric approach, focusing on building long-term relationships with its clients and consistently delivering exceptional service.
Protective Insurance Corporation places a strong emphasis on risk management and loss control, believing that prevention is as important as insurance coverage. They provide robust risk assessment tools, training programs, and safety resources to help their clients minimize risks and maintain safe operations. This proactive approach not only benefits the insured but also helps the company manage claims effectively and maintain competitive premium rates.
In addition to its core insurance operations, Protective Insurance Corporation also offers specialty services such as claims management and loss control consulting. This holistic approach helps clients identify and mitigate risks, ensuring they are well-prepared to handle potential losses effectively.
Financially, the company boasts a strong balance sheet and robust financial stability, backed by its conservative underwriting practices, prudent investments, and reinsurance arrangements. This financial strength enables them to fulfill their policyholders' claims promptly and confidently.
Protective Insurance Corporation is committed to corporate social responsibility, actively engaging in philanthropic endeavors and community outreach programs. They support various charitable initiatives and organizations, giving back to the communities in which they operate.
In summary, Protective Insurance Corporation is a reputable insurance company specializing in property and casualty coverage. With a deep understanding of the transportation industry and a commitment to risk management, the company delivers comprehensive insurance solutions and exceptional customer service. Their financial stability and community involvement further enhance their reputation as a reliable and socially responsible insurance provider.
As a property and casualty insurer, Protective Insurance Corporation offers a wide range of insurance coverages to individuals, businesses, and organizations. These coverages include auto insurance, commercial transportation insurance, fleet insurance, excess and surplus lines insurance, workers' compensation insurance, and general liability insurance.
One of the main sectors that Protective Insurance Corporation serves is the transportation industry. They have a deep understanding of the unique risks faced by trucking companies, commercial motor vehicles, and transportation contractors. They provide tailored insurance solutions to meet the specific needs of their clients in this industry, addressing risks such as accidents, injuries, property damage, cargo theft, and legal liabilities.
The company operates through a network of agents and brokers, ensuring a personalized and localized approach to insurance services. These intermediaries work closely with clients to assess their risks, determine appropriate coverage, and provide ongoing support throughout the policy period. The company prides itself on its customer-centric approach, focusing on building long-term relationships with its clients and consistently delivering exceptional service.
Protective Insurance Corporation places a strong emphasis on risk management and loss control, believing that prevention is as important as insurance coverage. They provide robust risk assessment tools, training programs, and safety resources to help their clients minimize risks and maintain safe operations. This proactive approach not only benefits the insured but also helps the company manage claims effectively and maintain competitive premium rates.
In addition to its core insurance operations, Protective Insurance Corporation also offers specialty services such as claims management and loss control consulting. This holistic approach helps clients identify and mitigate risks, ensuring they are well-prepared to handle potential losses effectively.
Financially, the company boasts a strong balance sheet and robust financial stability, backed by its conservative underwriting practices, prudent investments, and reinsurance arrangements. This financial strength enables them to fulfill their policyholders' claims promptly and confidently.
Protective Insurance Corporation is committed to corporate social responsibility, actively engaging in philanthropic endeavors and community outreach programs. They support various charitable initiatives and organizations, giving back to the communities in which they operate.
In summary, Protective Insurance Corporation is a reputable insurance company specializing in property and casualty coverage. With a deep understanding of the transportation industry and a commitment to risk management, the company delivers comprehensive insurance solutions and exceptional customer service. Their financial stability and community involvement further enhance their reputation as a reliable and socially responsible insurance provider.
Protective Insurance Corporation is a well-established provider in the insurance sector, primarily focusing on transportation and commercial insurance services. The companys offerings can be broadly categorized into several key segments, products, and services designed to cater to the specific needs of its clientele, particularly in the trucking and commercial auto markets.
Segments
1. Transportation Insurance:
- This segment is crucial as it covers a wide array of risks associated with the transportation industry. It includes insurance products tailored to truck fleets, including cargo and liability coverage that protect against various liabilities faced by businesses in this sector.
2. Commercial Auto Insurance:
- Protective offers specialized insurance for commercial vehicles, including coverage for trucks, vans, and other vehicles used for business purposes. Policies typically cover physical damage, liability, and uninsured/underinsured motorist protection.
3. Workers Compensation Insurance:
- The company provides workers compensation insurance that covers medical expenses and lost wages for employees who get injured or become ill due to their job. This segment is crucial for companies in high-risk industries, including transportation, where workplace injuries may be more prevalent.
4. General Liability Insurance:
- This insurance protects businesses against legal liabilities arising from accidents, injuries, or negligence claims involving their operations, products, or employees. It’s important for companies to mitigate risks associated with legal actions.
5. Property Insurance:
- Protecting physical assets is essential for any business. Protective Insurance Corporation offers various property insurance products that safeguard against risks like fire, theft, and natural disasters affecting business premises and personal property.
Products
1. Auto Liability Coverage:
- A fundamental component of commercial auto insurance, this product protects businesses against legal obligations arising from injuries or damages caused by their vehicles.
2. Physical Damage Insurance:
- This coverage helps repair or replace vehicles damaged due to accidents, theft, or vandalism, ensuring that businesses can maintain their operations without significant financial burden.
3. Cargo Insurance:
- Cargo insurance is vital for transportation companies, covering loss or damage to goods while in transit. This product is particularly important for shipping and logistics companies.
4. Non-Trucking Liability Insurance:
- This is designed for independent contractors, covering liability for incidents occurring when the truck is not being used for business, providing peace of mind to those who work independently in the industry.
5. Fleet Insurance:
- Designed for businesses operating multiple vehicles, fleet insurance bundles coverage options, offering streamlined management and potentially lower premiums through bulk coverage.
6. Excess Liability Insurance:
- This coverage offers additional liability protection over the limits of primary liability policies, safeguarding businesses from large claims that could potentially wipe out financial resources.
Services
1. Risk Management Services:
- Protective Insurance Corporation provides risk management consulting to help businesses identify potential hazards and implement strategies to mitigate risks. This can include training programs, safety audits, and establishing best practices for employee safety.
2. Claims Management:
- The claims management service streamlines the process of filing and managing claims, ensuring that clients receive timely assistance and that claims are handled efficiently. This service is crucial for minimizing downtime and financial loss for businesses.
3. Loss Control Services:
- These services involve assessing and minimizing risks associated with business operations. Protective offers evaluations and recommendations to enhance safety practices and reduce potential insurance claims.
4. Underwriting Services:
- Their underwriting team assesses risk and sets premium rates tailored to individual business needs, ensuring that clients are adequately covered without overpaying for policies.
5. Customer Support:
- Protecting clients through exceptional customer service is a cornerstone of Protective Insurance Corporation’s approach. Dedicated support teams are available to assist clients with questions, policy changes, and claims, fostering strong client relationships.
By addressing the specific needs of businesses in the transportation and commercial sectors, Protective Insurance Corporation has positioned itself as a comprehensive provider of insurance products and services. Their commitment to risk management and customer service underscores their dedication to helping businesses navigate the complexities of insurance in todays dynamic environment.
Segments
1. Transportation Insurance:
- This segment is crucial as it covers a wide array of risks associated with the transportation industry. It includes insurance products tailored to truck fleets, including cargo and liability coverage that protect against various liabilities faced by businesses in this sector.
2. Commercial Auto Insurance:
- Protective offers specialized insurance for commercial vehicles, including coverage for trucks, vans, and other vehicles used for business purposes. Policies typically cover physical damage, liability, and uninsured/underinsured motorist protection.
3. Workers Compensation Insurance:
- The company provides workers compensation insurance that covers medical expenses and lost wages for employees who get injured or become ill due to their job. This segment is crucial for companies in high-risk industries, including transportation, where workplace injuries may be more prevalent.
4. General Liability Insurance:
- This insurance protects businesses against legal liabilities arising from accidents, injuries, or negligence claims involving their operations, products, or employees. It’s important for companies to mitigate risks associated with legal actions.
5. Property Insurance:
- Protecting physical assets is essential for any business. Protective Insurance Corporation offers various property insurance products that safeguard against risks like fire, theft, and natural disasters affecting business premises and personal property.
Products
1. Auto Liability Coverage:
- A fundamental component of commercial auto insurance, this product protects businesses against legal obligations arising from injuries or damages caused by their vehicles.
2. Physical Damage Insurance:
- This coverage helps repair or replace vehicles damaged due to accidents, theft, or vandalism, ensuring that businesses can maintain their operations without significant financial burden.
3. Cargo Insurance:
- Cargo insurance is vital for transportation companies, covering loss or damage to goods while in transit. This product is particularly important for shipping and logistics companies.
4. Non-Trucking Liability Insurance:
- This is designed for independent contractors, covering liability for incidents occurring when the truck is not being used for business, providing peace of mind to those who work independently in the industry.
5. Fleet Insurance:
- Designed for businesses operating multiple vehicles, fleet insurance bundles coverage options, offering streamlined management and potentially lower premiums through bulk coverage.
6. Excess Liability Insurance:
- This coverage offers additional liability protection over the limits of primary liability policies, safeguarding businesses from large claims that could potentially wipe out financial resources.
Services
1. Risk Management Services:
- Protective Insurance Corporation provides risk management consulting to help businesses identify potential hazards and implement strategies to mitigate risks. This can include training programs, safety audits, and establishing best practices for employee safety.
2. Claims Management:
- The claims management service streamlines the process of filing and managing claims, ensuring that clients receive timely assistance and that claims are handled efficiently. This service is crucial for minimizing downtime and financial loss for businesses.
3. Loss Control Services:
- These services involve assessing and minimizing risks associated with business operations. Protective offers evaluations and recommendations to enhance safety practices and reduce potential insurance claims.
4. Underwriting Services:
- Their underwriting team assesses risk and sets premium rates tailored to individual business needs, ensuring that clients are adequately covered without overpaying for policies.
5. Customer Support:
- Protecting clients through exceptional customer service is a cornerstone of Protective Insurance Corporation’s approach. Dedicated support teams are available to assist clients with questions, policy changes, and claims, fostering strong client relationships.
By addressing the specific needs of businesses in the transportation and commercial sectors, Protective Insurance Corporation has positioned itself as a comprehensive provider of insurance products and services. Their commitment to risk management and customer service underscores their dedication to helping businesses navigate the complexities of insurance in todays dynamic environment.