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-Progressive to cover boat propulsion systems.

Global Banking News-May 10, 2012--Progressive to cover boat propulsion systems(C)2012 ENPublishing -

Global Banking News - 10 May 2012

Progressive Insurance has announced a plan to cover boat-propulsion systems.

The firm said that it has introduced a new policy that will cover the propulsion systems of boats.

Called Propulsion Plus, the policy covers repairs or replacements of the lower unit of an outboard motor, or the out-drive of a stern drive motor, in the event of mechanical breakdown.

Rick Stern, product manager at Progressive Insurance, said, 'Propulsion Plus was created in response to customers asking for expanded coverage for their propulsion units. Both customer surveys as well as our internal data showed that these types of breakdowns were not at all unusual. We decided to do something about it. So really, Propulsion Plus was created as a result of customer demand. They asked for it, and we made it happen.'

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Publication:Global Banking News (GBN)
Date:May 10, 2012
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