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GEICO Becomes Partner With Tiger Athletics
Courtesy: Athletics Media Relations  
Release: 02/12/2013
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TOWSON, Md. – The third-largest private passenger auto insurance company in the United States, has agreed to become a sponsor for Towson University athletics, it has been announced by Director of Athletics Mike Waddell and Peter C. Oliveri, the General Manager of Towson Sports Properties.

“Geico is a leader in the insurance industry and a strong supporter of college athletics,” says Oliveri. “We are excited to have them join us a sponsor and look forward to a long and successful relationship."

As part of its sponsorship, GEICO will support the Tiger men’s basketball program through next season and will also sponsor the Tiger football program in 2013.

GEICO (Government Employees Insurance Company) is a member of the Berkshire Hathaway family of companies and is the third-largest private passenger auto insurance company in the United States. GEICO provides millions of auto insurance quotes to U.S. drivers annually. The company is pleased to serve more than 11 million private passenger customers and insures more than 18 million vehicles (auto & cycle).

In the mid-1930s, at the height of the Great Depression, the husband and wife team of Leo and Lillian Goodwin founded GEICO. Confident that he could create a successful auto insurance business by marketing directly to carefully targeted customer groups, Leo Goodwin hammered out a business plan during his early career in Texas.

In 1936, he put that plan into action, establishing the Government Employees Insurance Company – the company known today as GEICO. Few people realize that GEICO was initially targeted to federal employees and certain categories of enlisted military officers. Lillian Goodwin energetically marketed the company to this audience (in addition to doing the accounting, setting rates, and underwriting) and within a year, GEICO had written 3,700 policies and hired 12 staff members.

Through the years, GEICO continued to grow. In 1993, Olza "Tony" Nicely was named GEICO's new chairman, president and CEO, and worked to expand the customer base through a new four-company strategy. Along with it came an increased advertising budget which propelled GEICO toward much higher national visibility.

Warren Buffett liked what he saw. In 1995, his Berkshire Hathaway investment firm made a generous bid for the remaining shares of GEICO's outstanding stock, and by 1996, GEICO was a subsidiary of one of the most profitable organizations in the country. That led to national advertising on an enormous scale. GEICO's ads and direct mail pieces flooded the airwaves and filled mailboxes around the country and the company's growth shot upward. The GEICO Gecko® made its first appearance during the 2000 television season and quickly became an advertising icon.

In 2001, Leo Goodwin was named to the International Insurance Society Hall of Fame, and by 2002, GEICO had passed the 5 million policyholder mark.

In 2006, GEICO marketing efforts, expanding Internet capabilities and customer outreach combined to attract the company's 7 millionth policyholder. GEICO's success continued throughout 2007 as the company grew to 8 million policyholders.

GEICO's online service center helps policyholders take care of policy sales, policy changes, claims reporting and to print insurance ID cards.

GEICO also provides insurance quotes on motorcycles, all-terrain vehicles (ATVs), travel trailers and motorhomes (RVs). Coverage for boats, life, homes and apartments is written by non-affiliated insurance companies and is secured through the GEICO Insurance Agency, Commercial auto insurance and personal umbrella protection are also available.

For more information, go to www.geico.com.


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