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National General Insurance, formerly the GMAC Insurance Group is a Winston-Salem, North Carolina–based property and casualty insurance company. The company was founded in 1920. The company was founded in 1920.
Managing General Agents filled that need by providing local resources who were able to properly underwrite the risks, service the policies, and handle claims. As technology has evolved and many of the obstacles associated with conducting business in a distant geographic location were overcome, many insurance carriers have stopped using Managing ...
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The first agents managed to recruit ten times that number, and on April 14, 1926, Farm Bureau Mutual started a business with over 1,000 policyholders. The first product of the new company, as its name implied, was automobile insurance. The company wrote policies only to Ohio farmers who were members for the Ohio Farm Bureau.
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American National was founded in 1905 by Galveston businessman William Lewis Moody Jr. Today the company offers a wide array of insurance products and services including life insurance, annuities , health insurance, property and casualty insurance, credit insurance , and pension plan services.
State Farm Insurance "Fire Building" in downtown Bloomington, Illinois. State Farm was founded in June 1922 by retired farmer George J. Mecherle as a mutual automobile insurance company owned by its policyholders. [10]
Just as there is a potential conflict of interest with a broker, an agent has a different type of conflict. Because agents work directly for the insurance company, if there is a claim the agent may advise the client to the benefit of the insurance company. Agents generally cannot offer as broad a range of selection compared to an insurance broker.