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Its budget is primarily derived from funds generated by license fees, assessments, and Proposition 103 recoupment fees. The CDI licenses over 1,500 insurance companies and more than 320,000 insurance agents and insurance brokers in the state of California, United States. The current California Insurance Commissioner is Ricardo Lara.
In April 2015, Kemper acquired Alliance United Insurance Company, one of the fastest growing auto insurance providers in the State of California.Source: [14] In July 2018, Kemper acquired Infinity Property and Casualty Corporation (NASDAQ: IPCC), an auto insurance provider focused on serving the specialty, nonstandard segment, in a cash and stock transaction valued at approximately $1.4 billion.
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
Allianz Life Insurance Company of North America began as North American Casualty, started by Henry M. Little of Minneapolis, Minnesota in 1896. In 1912, North American Casualty merged with North American Life Association – founded in 1905 by Zeke H. Austin with capital from Henry Little [3] – to become North American Life and Casualty (NALAC).
As marine was not in line with the original prospectus, a sister company was formed, Alliance Marine Assurance, with directors in common. This too was launched in 1824, giving Alliance a complete coverage of the main markets – fire and marine insurance and life assurance. Alliance Marine was bought by Alliance Assurance in 1905. [1] [2]
Covered California is the health insurance marketplace in the U.S. state of California established under the federal Patient Protection and Affordable Care Act (ACA). The exchange enables eligible individuals and small businesses to purchase private health insurance coverage at federally subsidized rates.
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Between 1984 and 1986, general liability insurance premiums increased 200 percent or more for one out of four charitable nonprofit organizations in California. During that same period, insurance companies canceled or refused to renew the general liability policies of one out of five California charitable nonprofits.