Leo Goodwin, Sr.

Leo Goodwin Sr. (1886–1971) was an American businessman and philanthropist best known for founding private auto insurance company GEICO in 1936, with his wife Lillian Goodwin.

Biography

Goodwin was born in 1886 in Lowndes, Missouri, the son of a country doctor who traveled by horse and buggy to treat his patients. Educated as an accountant, Goodwin entered the insurance business in San Antonio, Texas. As he became more experienced in the field, Goodwin came to the conclusion that the industry could better serve its customers and reduce costs by eliminating sales commissions to producers of premiums and dealing directly with policyholders.

Professional career and GEICO

Using this then unique business model, Goodwin co–founded the Government Employees Insurance Company (GEICO) in 1936.

Philanthropy

Exterior of Leo Goodwin Sr. Hall – home of Shepard Broad Law Center Goodwin was a large donor to Nova Southeastern University and is considered one of the primary founders. The building that contains the university's law school, Shepard Broad College of Law, is housed in Leo Goodwin Sr. Hall. In addition, one of the dorms is named the Leo Goodwin Sr. Residence Hall.

The Goodwin Foundation sponsors a scholarship at Broward Community College.

The Leo Goodwin Sr. Chair in Law was established at Shepard Broad College of Law with an initial gift from Goodwin. The Goodwin Chair allows the law school to invite legal scholars to spend time in residence, to team-teach a seminar with a member of the faculty, and to interact with the faculty, students, and alumni.