GEICO
GEICO was founded in 1936 by Leo Goodwin and his wife Lillian Goodwin to provide auto insurance directly to federal government employees and their families [2]. GEICO’s original business model was predicated on the assumption that federal employees as a group would constitute a less risky and more financially stable pool of insureds, as opposed to the general public. Despite the presence of the word “government” in its name, GEICO has always been a private corporation and not a government agency.
A dominant figure in GEICO’s history is David Lloyd Kreeger (1919-1990), who became president of the company in 1964 and helped to steer it into a major insurance enterprise.[citation needed] As noted in his New York Times obituary November 20, 1990, Kreeger was the son of Jewish immigrants from Russia. He was graduated with high honors from Rutgers and from Harvard Law School, where he was editor of the Law Review. Kreeger joined the Department of Agriculture as a lawyer early in FDR’s presidency; he later worked in the Department of the Interior. He then worked for the Justice Department. In 1948, he formed a group of investors who bought into GEICO. He became senior vice president and general counsel of the company.
Six years after becoming president of GEICO in 1964, he was named chairman and chief executive officer. He retained those titles until he retired in 1974. He continued as chairman of the executive committee until 1979, when he was named honorary chairman.
An accomplished amateur violinist, Kreeger was internationally known as a collector of Impressionist and modern painting and sculpture. He was president and chairman of the Corcoran Gallery of Art in Washington for almost 20 years. Today, he is perhaps best known for the Kreeger Museum, a mansion on Foxhall Road in Washington, DC, in which he and his wife, Carmen, also a patron of the arts, lived since 1968. It was designed by the architect Philip Johnson as a showcase for the Kreeger collection.
1/5 stars
2/5 stars
There are 2 Reviews to "GEICO Auto Insurance"
I’ve been with Geico for over 16 years. I’ve never had an accident that was my fault. I have full coverage on my truck from them. Everytime I put in a calim they find a way to trick you into it being a larger deductable so they won;t have to pay or as much making it a collision claim..very sneaky..always getting the estimate way down by using inferior parts etc…then Geico just makes decisions on their own knowing that there is nothing you can really do. I filed with the state and nothing happened. They don’t even have a Geico rep or field agent in my state so this jerk in Arizona Geico office calls up and makes me send him pics of the truck etc..all at my expense and time! They are arrogant and rude. Teir rates are highe than most and they spend millions on their corny advertising but can not pay on a honest valid claim!!
I must say, after reading the reviews for GEICO below, I would think that they were the big bad wolf…if only I have not dealt with them in the past. The reviews listed on this site were truley written by people that do not know a thing about insurance. The person that was mad that GEICO did not pay for his mother-in-laws injuries is really lost. Auto insurance is there to cover you when you are at fault in in accident. If the person that hit your mother-in-law did not have the right kind of insurance, or carry the right limits of insurance, that is their fault, not GEICO’s. Blaming GEICO would be like blaming Pizza Hut because your mother-in-law went there to buy a vaccum cleaner and they couldn’t sell her one.
As for the ones who claim that their insurance went up for no reson at all, bull. Why is it that if milk goes up because of gas prices, people buy it. If tabacco goes up because of new taxes, people buy them, But if There car insurance goes up because the average price to repair their car goes up, or the cost of any medical treatment sky-rockets, the insurance company is a blood sucking tick out to screw the public. You people should be ashamed of your selves for being that simple. ALL insurance companies are in the business of making MONEY. If they have to pay for an accident YOU had and your rate goes up, be glad you didn’t have to pay the thousands of dollars required to pay for you damages, the damages to the car/property and medical expences of the person/persons you hit. And most of all, please read your policy, and if you don’t understand, please ask your agent/company.
Lastly, for the guy that said GEICO trains their agents to cheat the customer. RIIIIGHT, I know you think it makes your statment look more important or truthful to say you work/worked for a company but come on. Do you truley think that anyone who worked for a company for as long as you claimed would go online and post something so simple as what you wrote? And I bet you have a girlfriend that none of us know because she goes to another school and lives in a diffrent town.