Geico Insurance Company
07/23/2009
Geico Insurance Company
The Government Employees Insurance Company, usually known as GEICO, is an American auto insurance company.
GEICO is a wholly owned subsidiary of Berkshire Hathaway and, as of 2009, provided coverage for more than 12 million vehicles owned by more than 10 million policy holders. GEICO writes private passenger automobile insurance in the District of Columbia and in all U.S. states.
GEICO was founded in 1936 by Leo and Lillian Goodwin to provide auto insurance directly to federal government employees and their families. 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.
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