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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.
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.
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 ...
Get major insurers to write policies for high-risk areas: The California Department of Insurance is looking for the top 12 home insurance companies in the state to commit to writing a minimum of ...
In 2011, WellPoint acquired CareMore, a Cerritos, California-based provider of insurance and care centers for elderly patients. [50] In 2012, WellPoint acquired Amerigroup for $4.9 billion, anticipating significant growth due to Medicaid expansion under the Patient Protection and Affordable Care Act. [51] [52] [53]
Argonaut Insurance was founded in California in 1948 as the Argonaut Insurance Exchange. It focused on underwriting workers compensation for the California construction industry. [ 5 ] It was acquired in 1969 by Teledyne Technologies , [ 6 ] then expanded into additional product lines and acquired Great Central Insurance.
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.
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