RLI Corp.

Summary

(Learn how and when to remove this template message)
RLI Corp.
TypePublic
IndustryInsurance
Founded1965
FounderGerald D. Stephens
Headquarters,
U.S.
Key people
  • Jonathan E. Michael (Chairman & CEO),
  • Craig W. Kliethermes (President, Chief Operating Officer)[1]
ServicesInsurance
Number of employees
887 (2018)
Websiterlicorp.com

RLI Corp. is an American insurance company specializing in property insurance and casualty insurance.[2][citation needed] It is headquartered in Peoria, Illinois.[2][citation needed]

RLI conducts its operations primarily through four insurance subsidiaries — RLI Insurance Company, Mt. Hawley Insurance Company, RLI Indemnity Company and Contractors Bonding and Insurance Company.[citation needed]

History

Founded in 1965 by Gerald D. Stephens, Replacement Lens, Inc. (RLI) was one of the first insurers of contact lenses.[citation needed]

Eventually,[when?] the company emerged as one of the leading contact lens insurers in the United States.[citation needed] Building upon its success in the contact lens market, RLI further expanded its business into other niche insurance markets.[citation needed]

Over time, the demand for contact lens insurance shrank with the emergence of more affordable disposable soft lenses. In order to remain competitive, Stephens expanded RLI's offerings to include commercial property and liability insurance.[citation needed] In 1994, the company retired its founding contact lens insurance product and in 1996 RLI sold its RLI Vision unit to Maui Jim, a manufacturer of luxury sunglasses.[citation needed]

References

  1. ^ "Officers & Directors". Retrieved 2015-11-07.
  2. ^ a b Best's Insurance Reports: Property-liability. A. M. Best Company. 1975.