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Based in Westfield Center, Ohio, the company employs over 2,400 nationwide, including 1,500 in its home office. It is the largest employer in Medina County. Westfield's products are distributed through a network of more than 1,000 independent insurance agents. [5]
In September 2003 the company received $17.3 million as a party in the insurance claim following the terrorist attack on the World Trade Center. [13] On 18 February 2006, the Los Angeles Times reported that Westfield had agreed to acquire 15 stores from Federated Department Stores , all but three in southern California . [ 14 ]
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 the United States by 1989.
In one 2018 case that made it to the 6th Circuit Court of Appeals, an Ohio insurance worker, Steven Aday, was sued over claims of trade secrets violations after he filed a lawsuit accusing a ...
In 2017, the company paid a claim to Disney, who had bought insurance against the possibility that actress Carrie Fisher would die before filming Star Wars: The Rise of Skywalker. [25] In 2018, Argo moved the listing of its shares from the NASDAQ to the New York Stock Exchange, and its ticker symbol changed from AGII to ARGO. On May 7, 2018 ...
Loss reserving is the calculation of the required reserves for a tranche of insurance business, [1] including outstanding claims reserves.. Typically, the claims reserves represent the money which should be held by the insurer so as to be able to meet all future claims arising from policies currently in force and policies written in the past.
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Insurance fraud refers to any intentional act committed to deceive or mislead an insurance company during the application or claims process, or the wrongful denial of a legitimate claim by an insurance company. It occurs when a claimant knowingly attempts to obtain a benefit or advantage they are not entitled to receive, or when an insurer ...