November 27, 2014 11:27 PM ET

Insurance

Company Overview of Safeco Insurance Company of America Inc.

Company Overview

Safeco Insurance Company of America Inc., an insurance and financial services company, sells insurance and investment products in the United States. The company provides property and casualty insurance and related products and services to individuals, organizations, and companies. It offers its products through a network of independent agents, brokers, and financial advisors, as well as delivers quotes online. The company was incorporated in 1953 and is headquartered in Seattle, Washington. Safeco Insurance Company of America Inc. operates as a subsidiary of Safeco Corporation.

Safeco Plaza

1001 Fourth Avenue

Seattle, WA 98154

United States

Founded in 1953

Phone:

206-545-5000

Fax:

206-545-6277

Key Executives for Safeco Insurance Company of America Inc.

President and Chief Executive Officer
Age: 58
President and Executive Vice President
Treasurer and Chief Financial Officer
Age: 45
Vice President of Corporate Legal and General Counsel
Assistant Vice President and Manager of Human Resources
Compensation as of Fiscal Year 2014.

Safeco Insurance Company of America Inc. Key Developments

The U.S. District Court for the Northern District of California Dismisses an Unfair Competition Law Claim against Safeco Insurance Co. of America

The U.S. District Court for the Northern District of California dismissed an unfair competition law claim brought by a homeowners' insured against his insurer arising from the insured's defense of an underlying action under a reservation of rights. The complaint failed to allege with specificity the factual basis of the insured's claim. Alan Gardner maintained homeowners' insurance under a policy issued by Safeco Insurance Co. of America. On Jan. 14, 2008, Gardner was named as a defendant in a state court action. Gardner tendered defense and indemnity of the action to Safeco, which defended under a reservation of rights. Gardner later sued Safeco for breach of contract, bad faith and related claims, alleging Safeco intentionally led him to believe that it was prosecuting his affirmative claims in the underlying action and that he relied on Safeco's related representations to his detriment. Gardner alleged Safeco failed to inform him of a potential conflict of interest and of Gardner's right to independent counsel arising from that conflict of interest.

Safeco Insurance Co., of America Receives Contract for Construction Services

Safeco Insurance Co., of America was awarded a $17,500,000 modification (P00011) to a previously awarded firm-fixed-price contract (DACA83-02-C-0009) for construction services at Hickam Air Force Base, Hawaii. The cumulative total face value of this contract is $46,231,972. The modification award amount is being paid from the U.S. Department of Treasury Judgment Fund. The Army Corps of Engineers, Fort Shafter, Hawaii, is the contracting activity.

Safeco Insurance Begins Selling Personal Lines Insurance Products in Massachusetts

Safeco Insurance said June 24 that it began selling its personal lines insurance products in Massachusetts in June.

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