Central Insurance Unveils Industry-Leading Employee Benefits Package, Expands Paid Leave Offerings
The Ohio-based property and casualty carrier expanded its paid time off policies to align with the company's relationship focus
Article was originally published by globenewswire.com
VAN WERT, Ohio, June 23, 2022 (GLOBE NEWSWIRE) – Central Insurance, a leading property and casualty carrier, last week announced a new company-wide benefits package aimed at creating an unparalleled employee experience that reflects the company's commitment to relationships. Leveraging benchmarking data from the technology industry which is known for pioneering forward-thinking flexible time-off policies, the competitive package is designed to maximize flexibility, better support its over 700 employees and their families and foster a culture that prioritizes the care of its people. The expanded policy went into effect on June 13, 2022.
"At Central Insurance, we invest in our people and treat each of our employees as owners. When we heard from our team that paid leave was an area for improvement, we acted," said Evan Purmort, CEO & president. "The insurance industry is rapidly evolving, and our benefits package needed to reflect a workplace built for the future. That's why we developed our policy to be better than 75% of what top technology companies currently offer. This announcement marks a crucial step forward for not only our company, but the industry as a whole."
The revamped benefits package includes the following:
Additional paid time off: Every new hire will receive 20 days of vacation time at the start of their hire date. Additionally, employees with 10-24 years of service will receive 25 days and those with 25+ years of service will receive 30 days.
Expanded paid parental leave: To fully support growing families, Central Insurance is significantly adding to its parental leave policy. Both parents will receive 100% paid leave for births, adoptions and placement of a child in foster care for 12 weeks.
Increased bereavement leave: In unfortunate circumstances such as death, Central Insurance wants to be a true companion and make sure employees take care of themselves by taking the time needed to grieve. Employees will now receive eight weeks of 100% paid leave for the death of a spouse or child.
Added paid caregiver leave: To further support employees and their families, Central Insurance is increasing caregiver leave from zero to eight weeks with 100% pay to care for a family member with a serious health condition.
Paid sick days: Since minor illnesses for employees and their children are unpredictable, Central Insurance employees will receive 10 new sick days a year.
The 146-year-old organization recently appointed Jena Wierwille as the vice president of human resources, with a goal to execute the organization's revitalized vision for a modern and scalable HR structure.
"The ability to offer forward-thinking, cutting-edge employee benefits in our industry is a top priority. Our employees should never have to choose between their work and taking care of themselves and their families," said Wierwille. "We believe this is the right move for Central Insurance and its people, and directly aligns with our vision for the future of the organization."
In addition to the newly added paid leave, the company continues to provide a competitive, comprehensive benefits package designed to meet evolving needs and assist in building financial security for the future.
To learn more, visit www.central-insurance.com.
About Central Insurance
The Central Mutual Insurance Company was founded in Van Wert, Ohio, in 1876, and has since evolved into Central Insurance, a property and casualty insurance carrier providing premium coverage for hundreds of thousands of individuals and businesses across the country. Central remains based in Van Wert and operates regional offices in Boston, Atlanta, and Dallas, with satellite offices in Columbus, and Salt Lake City. Central Insurance has combined assets of more than $2 billion. Central's A.M. Best rating is A (Excellent). For more information, please visit central-insurance.com.