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People’s Trust Insurance Company is an American home insurance company located in Deerfield Beach, Florida.[1] People’s Trust Insurance is privately held and as of 2017[update] was the eleventh largest homeowners insurance company in the state with more than 110,000 policyholders throughout Florida.[2]
| Company type | Private company |
|---|---|
| Industry | home insurance |
| Founded | 2008 |
| Founders | George Schaeffer and Michael Gold |
| Headquarters | , |
Area served | Florida |
Key people | George Schaeffer (CEO), Tom Gallagher (COO) |
Number of employees | 350 (2021) |
| Website | peoplestrustinsurance |
The company was co-founded by George Schaeffer and Michael Gold in 2008.[3]
According to the South Florida Business Journal, People’s Trust Insurance was the second-fastest growing company in South Florida from 2012 to 2014.[4] The home insurance company has more than 350 employees, with 300 in Deerfield Beach.[5]
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.[6] Independent financial analysis firm Demotech assigned People’s Trust Insurance a Financial Stability Rating of "A", Exceptional.[7]
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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.[8]
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.[11][non-primary source needed]
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