People's Trust Insurance Company is a Florida based homeowner's insurance company. Founded in 2007 by Michael Gold, the company has recently moved its corporate headquarters from Boca Raton, Florida, to the Research Park at Florida Atlantic University in Deerfield Beach. People's Trust provides insurance coverage to over 100,000 Florida homeowners.
As of November 2013, People's Trust has over 400 full-time employees statewide and by operating all major corporate functions internally, the company claims that it is able to maintain control and consistency throughout the total customer experience - sales and customer service, underwriting, inspections, claims processing, and home restoration.
In August 2013, rating agency Demotech affirmed the "A" Financial Stability Rating assigned to People's Trust Insurance Company.
Distribution
People's Trust was initially launched with a direct-to-consumer sales channel utilizing in-house insurance agents and customer service representatives, however, since 2012, after having its license suspended for using unlicensed agents, the company developed a network of over 300 independent insurance agencies statewide that is now able to offer the company's insurance coverage.
Lawsuit
In November, 2013, an appellate court upheld a jury award of $766,258.06 to a Florida policyholder who had lost his home in a house fire. That court stated "After his home was destroyed by a fire, appellee Raymond Roddy filed a claim with his insurer, appellant People's Trust Insurance Company. People's denied coverage for numerous reasons, one being the claim that Roddy had made material misrepresentations on his application for insurance. The case was submitted to a jury, which awarded Roddy $766,258.06 in damages. The court upheld the jury award.
Current Executives
o George Schaeffer - Co-Founder and Chief Executive Officer
o Mitch Politzer - President
o Steve Martindale - Chief Financial Officer
o Rosie Sicre - Chief Claims Officer
o Mark Bowsher - Chief Underwriting Officer
Past Company Executives
- Michael Gold - Co-Founder and Chief Executive Officer - died 01/26/2014
Awards and Recognition
References
Interesting Informations
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