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According to their policy, State Farm was obligated to pay up to $250,000 per person or $500,000 per occurrence, with a personal liability limit of $1 million. [65] State Farm refused to pay the awarded amounts of $100,000 for Charles Cook and $400,000 for Bernadette Cook when they pursued their claim.
Errors and omissions (E&O) insurance, which may exclude negligent acts other than errors and omissions ("mistakes"), is most often used by consultants and brokers and agents of various sorts, including notaries public, real estate brokers, insurance agents themselves, appraisers, management consultants and information technology service providers (there are specific E&O policies for software ...
Liability insurance is far more prevalent in the advanced than emerging markets. The advanced markets accounted for 93% of global liability premiums in 2013, while their share of global non-life premiums was 79%. [2] The US is by far the largest market, with 51% of the global liability premiums written in 2013. This is due to the size of the US ...
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 ...
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Its products are available in 17 states. Grinnell Mutual is the largest direct reinsurer of farm mutual companies in North America. With its member mutuals, it has over $210 billion of total reinsured value. [citation needed] The company has held an AM Best 'A' (Excellent) rating for financial strength since 1991. [1]
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Insurance in the United States refers to the market for risk in the United States, the world's largest insurance market by premium volume. [1] According to Swiss Re, of the $6.782 trillion of global direct premiums written worldwide in 2022, $2.959 trillion (43.6%) were written in the United States. [1]