PEMCO Insurance is a personal-lines
mutual insurance company
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...
based in
Seattle, Washington
Seattle ( ) is the List of municipalities in Washington, most populous city in the U.S. state of Washington (state), Washington and in the Pacific Northwest region of North America. With a population of 780,995 in 2024, it is the List of Unit ...
that serves only
Washington
Washington most commonly refers to:
* George Washington (1732–1799), the first president of the United States
* Washington (state), a state in the Pacific Northwest of the United States
* Washington, D.C., the capital of the United States
** A ...
and
Oregon
Oregon ( , ) is a U.S. state, state in the Pacific Northwest region of the United States. It is a part of the Western U.S., with the Columbia River delineating much of Oregon's northern boundary with Washington (state), Washington, while t ...
residents.
History
In 1936, Seattle
school teacher
A teacher, also called a schoolteacher or formally an educator, is a person who helps students to acquire knowledge, competence, or virtue, via the practice of teaching.
''Informally'' the role of teacher may be taken on by anyone (e.g. w ...
Robert J. Handy took advantage of the newly legalized “
credit union
A credit union is a member-owned nonprofit organization, nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts (savings accounts), share draft accounts (che ...
” concept to found ''Seattle Teachers Credit Union''. Handy started the credit union with $5 in capital. Out of that enterprise grew a group of seven different but related companies, including PEMCO Insurance.
PEMCO has grown from premiums of $8,500 in 1949 to nearly $500 million in 2021.
Today, PEMCO is the Northwest’s largest local personal-lines insurer, providing auto, home, boat and umbrella coverage to the general public.
The current
president
President most commonly refers to:
*President (corporate title)
* President (education), a leader of a college or university
*President (government title)
President may also refer to:
Arts and entertainment Film and television
*'' Præsident ...
and
CEO
A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization.
CEOs find roles in variou ...
of PEMCO Insurance is Stan W. McNaughton. He is the son of Stanley O. McNaughton, who was president from 1970 until his death in 1998.
PEMCO serves customers from its Seattle headquarters in the South Lake Union tech district, and from a regional office in
Spokane
Spokane ( ) is the most populous city in eastern Washington and the county seat of Spokane County, Washington, United States. It lies along the Spokane River, adjacent to the Selkirk Mountains, and west of the Rocky Mountain foothills, south ...
.
Awards
PEMCO has earned several service and marketing-campaign awards in recent years, including:
*
J.D. Power
J.D. Power is an American data analytics, software, and consumer intelligence company founded in 1968. The company specializes in the use of big data, artificial intelligence, and algorithmic models examining consumer behavior. The firm's busine ...
ranked PEMCO Insurance "highest in customer satisfaction among auto Insurers in the Northwest region," a five-state area, each year from 2013-2019.
[{{Cite web, url=https://www.jdpower.com/business/ratings/study/U.S.-Auto-Insurance-Study/10116ENG/Northwest/3517, title=U.S. Auto Insurance Satisfaction Study]
* “Best Announcer," “Best Client Campaign,” “Best of Show” and others at the Soundies, sponsored by the Puget Sound Radio Broadcasters Association, in 2008, 2009 and 2010.
* Several showcase awards including the coveted SAMMY "Best of Show" top honor for the TV ad featuring "Northwest Profile #4: 4-Way Stop, You Go. No You Go. No You Go. Guy" awarded by the Insurance Marketing and Communications Association in 2009 and 2010.
References
*Virgin, Bill
"Nimble PEMCO looks to grow" The Seattle Post-Intelligencer, June 24, 2005.
*Ebnet, Matthe
"Longtime PEMCO Chief, 76, Beloved By Workers" The Seattle Times, January 20, 1998.
*J.D. Power.
Premium Increases Become Sticking Point for U.S. Auto Insurance Customers, J.D. Power Finds” June 19, 2017.
*Puget Sound Radio Broadcasters Association.
” May 2010.
*Insurance Marketing and Communications Association.
PEMCO wins SAMMY Award at 52nd annual awards” July 26, 2010.
External links
PEMCO's Official WebsiteRobert J. Handy at HistoryLink
Financial services companies established in 1949
Companies based in Seattle
Mutual insurance companies of the United States
1949 establishments in the United States
American companies established in 1949