COVID Stimulus Watch Individual Entry
Recipient Company:
PROGRESSIVE CORP
Loan or Loan Guarantee Amount:
$1,052,850
Recipient Details
Ownership Structure: publicly traded (ticker symbol PGR)
Award Details
Award Date: Jul 10, 2020
Award Type: loan
Award Details: Amount represents the purchase price of company bonds bought by the Fed.
Program Name: Secondary Market Corporate Credit Facility
Legislation: CARES
Awarding Agency: Federal Reserve
Data Source for Award:
https://www.federalreserve.gov/publications/reports-to-congress-in-respo...
Parent Company Data
Parent Company: Progressive
Headquartered in: Ohio
Parent Sector: financial services
Parent Industry: insurance
Employees (prior to pandemic): 41,571
Accountability Issues Since 2010
Employment-related Penalties: $46,000
Government-contracting-related Penalties: $2,000,000
Environmental / Healthcare / Safety Penalties: $73,000
Consumer Protection / Financial / Competition-related Penalties: $17,786,673
Ratio of CEO Pay to that of Median Worker: 212 to 1
CEO Compensation: $14,041,272
Worker Median Pay: $66,285
Total Federal, State, and Local Subsidies: $34,148,214
Federal Corporate Income Tax Rate: 21.3%
Violation Tracker
Employment Issues
Tax / Subsidy Issues
Environment / Safety Issues
Consumer Protection Issues