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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 ...
The insurance business of the Exchange and its subsidiary insurance companies is managed, by contract, by California Casualty Management Company, a separate and independent company. The relationship between California Casualty Management Company and the Exchange has been in place since the founding of the Exchange in 1914.
President Joe Biden approved a one-time $770 payment for people impacted by the California wildfires through a FEMA assistance program.
As a result of the passage of Proposition 103 in 1988, the elected office of the California Insurance Commissioner was created in 1991. Previously, the position was held by a person appointed by the Governor. The Insurance Commissioner oversees the Department of Insurance.
A denied car insurance claim doesn’t necessarily mean the end of the claims process. If you do not agree with your insurer’s claim denial, you have the right to appeal the insurance company ...
Climate change and extreme weather have contributed to catastrophic fires that destroyed thousands of California homes in recent years — and an insurance crisis that could result in the biggest ...
Its market share spiked to over 50 percent in years 2002–2004 when a large number of private carriers left the market. In keeping with its mission, State Fund has an open-door policy, writing insurance for California businesses that need workers' compensation insurance. State Fund insures [6] approximately 130,000 policyholders in California.
The California FAIR Plan is an insurance program of last resort for homeowners in high-risk areas of the Golden State who are unable to obtain fire coverage in the private insurance market.