Progressive Q2 2010 Earnings Call Transcript

Vinay Misquith - Crédit Suisse AG

And has it changed the pricing on non-preferred customers?

Glenn Renwick

The nonstandard sector, the answer is yes. It changes the prices because we do that sort of all the time. But this product model, while good for that sector, the real emphasis is more on the preferred. Having said that, let me make sure that there's no doubt that our emphasis on nonstandard mid-market is an area we have lots of experience in. So the rate of change of our knowledge and product is not as great as it might be of the other end of the spectrum, and our interest and intensity on that marketplace doesn't waver at all. In this particular climate, we are seeing perhaps a little bit more pressure in that environment, little less demand. But for the most part, our nonstandard in both channels is actually performing very well for us.

Vinay Misquith - Crédit Suisse AG

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