Protective Insurance

What Protective Insurance does

Protective Insurance Corporation, founded in 1930 and headquartered in Carmel, Indiana, is a specialty insurance carrier focused exclusively on the transportation industry. Operating under the marketing name Progressive Fleet & Specialty Programs and backed by Progressive Casualty Insurance Company, the company underwrites three core recurring premium products: fleet trucking insurance for commercial fleets of all sizes, independent contractor insurance for owner-operators, and fleet workers' compensation insurance for transportation-focused businesses. Coverage is offered across all 50 US states, the District of Columbia, Puerto Rico, and all Canadian provinces, with Canadian operations administered through Chief Agent CAS Accounting for Insurance Inc. in Newmarket, Ontario.

The company's technology stack centers on an insurance platform supporting commercial auto and workers' compensation underwriting, paired with a collaborative Loss Prevention & Safety Services program that includes online safety training via Zywave, experience modification control resources, slip-resistant shoe and safety supply discount programs, and the IC Safety and Shield safety resource sub-brands. Claims management is delivered through a centralized 24/7 staff with online reporting portals, complemented by return-to-work programs and workers' compensation claims kits. Distribution runs through a network of licensed insurance agents plus direct online channels for account management, payments, and claim reporting.

Protective generates revenue primarily through recurring insurance premiums priced on a quote basis against risk factors including fleet size, loss history, and experience modification. The company maintains wholly-owned operating subsidiaries Sagamore Insurance Company and Protective Specialty Insurance Company, and is led by CEO Jeremy Johnson with approximately 251–500 employees. The technology ecosystem is extended through a Vendor Referral Network that includes Idelic's AI-based Safety Suite, offered to insureds at preferred pricing. Marketing relies on an active content/blog engine, organic social channels, industry seminars, and safety training resources. The company is delisted from public trading (formerly NASDAQ: PTVCA) and now operates as a privately held affiliate of Progressive.

Name

Protective Insurance

Legal name

Protective Insurance Corporation

Website

https://protectiveinsurance.com

Company type

Private

Founded year

1930

Operating status

Operating

Headcount range

251–500 employees

Short description

Protective Insurance Corporation, operating as Progressive Fleet & Specialty Programs, is a specialty carrier underwriting commercial auto, independent contractor, and workers' compensation insurance for the North American transportation industry across all 50 US states and Canadian provinces.

Ownership category

akta.pro rank

Product category

Commercial Transportation Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Fleet & Commercial Auto Liability (FSAJABAA)

akta.pro secondary industries

Commercial Auto & Fleet Insurance (FSAJAMAB), Commercial Auto & Fleet Liability Insurance (Primary) (TLABANAA), Hired & Non-Owned Auto (FSAJABAE), Physical Damage / Comprehensive & Collision (Owned & Hired Vehicles) (TLABANAB)

Keywords

• Commercial trucking insurance
• Fleet workers compensation
• Transportation insurance
• Commercial auto insurance
• Fleet risk management

Headquarters

HQ city

Carmel

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Commercial Auto Insurance: Provides fleet trucking insurance, independent contractor insurance, and commercial vehicle coverage for transportation companies. Revenue generated through insurance premiums based on risk assessment and coverage limits.
2. Workers' Compensation Insurance: Specialized workers' compensation coverage for transportation-focused businesses, generating recurring premium revenue.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Protective Insurance underwrites and services commercial auto, fleet trucking, and workers' compensation insurance products for the transportation industry, including coverage for independent contractors. The company bundles these insurance products with loss prevention, safety, and claims management services, distributed under the Progressive Fleet & Specialty Programs brand.

Product overview

Protective Insurance (marketed as Progressive Fleet & Specialty Programs) is an insurance company specializing in fleet trucking and workers' compensation insurance for the transportation industry. The company offers three core insurance products: Fleet Trucking Insurance for fleet operations of all sizes, Independent Contractor Insurance for individual transportation workers, and Fleet Workers' Compensation Insurance for transportation-focused businesses. These products are complemented by Loss Prevention & Safety Services that include online safety training, resources, and risk management support. The company also provides Claims Management services with 24/7 centralized claims staff and online claim reporting capabilities. The product portfolio is completed by Workers' Compensation & Occupational Accident Claims Services covering forms, network providers, and return-to-work programs. The company is licensed in all 50 states, the District of Columbia, Puerto Rico, and all Canadian provinces.

Differentiator

Problem solved

Functional benefit

Brands

• Progressive Fleet: Fleet trucking insurance program brand under Progressive Fleet & Specialty Programs.
• IC Safety
• Shield

Products and services

• Fleet Trucking Insurance Commercial auto liability, physical damage, and related coverage designed for commercial trucking fleets operating across the U.S. and Canada. Targeted at motor carriers and fleet operators needing transportation-specialized underwriting.
• Independent Contractor Insurance Coverage product for owner-operators and independent contractor truckers who need commercial auto, non-trucking, and occupational accident protection outside a fleet program. Serves individual owner-operators and small trucking entrepreneurs.
• Fleet Workers' Compensation Insurance Workers' compensation coverage tailored to the risks of trucking operations, including long-haul drivers and fleet employees, delivered across U.S. states and Canadian provinces. For fleet operators seeking single-carrier workers' comp solutions.
• Loss Prevention & Safety Services Safety consulting and loss prevention services for fleet policyholders, designed to reduce workplace injuries, vehicular incidents, and insurance losses. Delivered to commercial fleet customers.
• Claims Management Services End-to-end claims handling for fleet auto, workers' compensation, and occupational accident claims, including reporting, investigation, and resolution. Serves fleet operators and independent contractors.

Quantifiable outcome

• Crash rates can increase up to 84% in winter weather conditions, highlighting the importance of safety programs.
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered minor.

• Burlington TrailwaysminorStrategic or Co-development PartnerProvided bus simulator for live demonstrations at Protective's annual Public Transportation Claims + Safety Seminar, showcasing driver training technology.
• Indiana State Police - Commercial Vehicle Enforcement DivisionminorStrategic or Co-development PartnerPartnership with Baldwin & Lyons loss prevention department for educational scale visits and Level 1 inspections training sessions with motor carriers.
• Indiana Motor Truck Association (IMTA)minorStrategic or Co-development PartnerCollaborated on learning sessions covering federal regulations, out-of-service criteria, and proper documentation for motor carriers.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• National Interstate Insurance: National Interstate specializes in commercial auto and alternative risk transfer for the passenger transportation, moving and storage, and commercial trucking sectors — directly overlapping Protective's transportation vertical with similar specialty underwriting and group captive structures.
• Great West Casualty Company: Great West is one of the largest direct specialty underwriters of trucking insurance in the U.S., offering commercial auto, motor truck cargo, and physical damage coverage to fleets and owner-operators — directly comparable to Protective's core fleet trucking book and serving the same trucking customer base.
• Northland Insurance (Travelers): Northland is a Travelers-owned specialty carrier that targets the trucking industry with commercial auto, motor truck cargo, and workers' compensation — a closely analogous product mix and customer segment to Protective's, especially within the workers' comp line.
• Canal Insurance Company: Canal is a long-standing specialty insurer focused exclusively on commercial trucking, providing auto liability, physical damage, and cargo coverage. Its niche-only positioning and trucking specialization directly mirror Protective's go-to-market and underwriting focus.

Broad incumbents

• Progressive Commercial: Progressive's commercial division is Protective's parent-affiliated broader commercial auto franchise and a major direct writer of commercial trucking insurance. The two share underwriting DNA while Progressive Commercial operates at meaningfully larger scale across broader commercial lines.
• Zurich North America: Zurich is a major global P&C carrier with significant commercial auto and specialty transportation exposure in the U.S., competing with Protective on larger fleet accounts and bringing greater multinational capability.
• Liberty Mutual Insurance: Liberty Mutual underwrites commercial auto, workers' compensation, and specialty transportation coverage at national scale, overlapping with Protective's full product stack but as part of a much broader P&C portfolio serving all commercial segments.
• Tokio Marine HCC: Tokio Marine HCC is a specialty insurance group under Tokio Marine that writes commercial auto, workers' comp, and niche transportation coverage — comparable mix to Protective, with deeper specialty lines and broader enterprise distribution.
• Berkshire Hathaway Specialty Insurance: Berkshire Hathaway Specialty writes commercial auto and transportation coverage in the U.S. and competes with Protective on mid-market and large fleet accounts, leveraging Berkshire's deep capital base and broader P&C platform.
• Travelers Insurance: Travelers is one of the largest U.S. P&C carriers with a substantial commercial auto and trucking book (including Northland), competing head-to-head with Protective for fleet accounts while also offering diversified lines that Protective does not.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks4 records

Key highlights7 records

Customer concentration

• Xx.com/ProtectiveIns
• YouTubeyoutube.com/user/progressive
• Facebookfacebook.com/progressive
• LinkedInlinkedin.com/company/progressive-insurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Protective Insurance