People's Trust Insurance Company

People’s Trust Insurance Company is a Florida home insurance company based in the Research Park at Florida Atlantic University in Deerfield Beach, Florida.[1] People’s Trust Insurance is privately held and is the ninth-largest homeowners insurance company in the state with more than 146,000 policyholders throughout Florida.[2]

According to the South Florida Business Journal, People’s Trust Insurance was the second-fastest growing company in South Florida from 2012 to 2014.[3] The home insurance company has more than 300 employees, with 230 in Deerfield Beach.[4]

In 2013, People’s Trust Insurance received the Governor’s Innovators in Business Award, which recognizes Florida companies in select industries that have influenced the state’s economic growth and diversification over the last year.[5] Independent financial analysis firm Demotech assigned People’s Trust Insurance a Financial Stability Rating of "A", Exceptional.[6]

Resources

The company includes an affiliation with Florida’s largest insurance restoration general contractor, the Rapid Response Team LLC. The Rapid Response Team operates 11 response centers across Florida with more than 325 full-time construction technicians and roofers, 150 service trucks and millions of dollars in recovery supplies.[7]

Current executives

• George Schaeffer - Co-Founder and Chief Executive Officer

• Kathy Semanate - Chief of Staff

• Steve Martindale - Vice President, Chief Financial Officer

• Mark Bowsher - Vice President, Chief Underwriting Officer

• Brett Frankel - Vice President, Chief Compliance Officer and Corporate Counsel

• Adam Hasner - Vice President, Chief Marketing and Communications Officer

• Irina Schaeffer - Executive Vice President, People’s Trust Holdings

• Jeff Vanderpool - Vice President, Chief Claims Officer

• Kevin Walton - Chief Operating Officer, Rapid Response Team LLC

Past company executives

• Michael Gold - Co-Founder and Chief Executive Officer - died January 26, 2014[8]

• Mitch Politzer - President and Chief Operating Officer - retired 2015[9]

Awards and recognition

Date Award
January 21, 2014 2013 Enterprise Florida Governor's Innovators in Business Award[10] in a mega market[11]

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.[12]

References

  1. ↑ "People's Trust to move to Deerfield, add more than 100 jobs".
  2. ↑ "People's Trust Insurance proposes big expansion of Deerfield Beach office".
  3. ↑ "The List: 50 Fastest-Growing Companies - People's Trust Insurance".
  4. ↑ "People's Trust Insurance proposes big expansion of Deerfield Beach office".
  5. ↑ "Governor Scott Recognizes Five West Palm Beach Area Companies as Innovators in Business".
  6. ↑ "Financial Stability Ratings: People's Trust Insurance Company". Retrieved October 26, 2015.
  7. ↑ "People's Trust Insurance Named 2nd Fastest Growing Private Company in South Florida".
  8. ↑ "Peoples Trust Insurance CEO Mike Gold dies".
  9. ↑ "Politzer, People's Trust President/COO, to Retire at End of Year".
  10. ↑ "Florida Homeowner Insurer Recognized For Its Entrepreneurship and Pioneering Approach". Retrieved 4 February 2014.
  11. ↑ "2013 Enterprise Florida Governor's Innovators in Business Award". Retrieved 4 February 2014.
  12. ↑ http://www.4dca.org/opinions/Nov%202013/11-20-13/4D12-4456.op.pdf
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