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USAA also paid out $64 million to settle a class action lawsuit related to overcharging military members who were entitled to certain protections. Then there’s the many changes higher up.
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This membership provided access to USAA's investment products, most bank deposit products and life insurance. Auto and property insurance policies were not included for non-military members due to eligibility restrictions. [15] In 2015, USAA employed more than 32,000 people at its offices throughout the world. [16]
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Reciprocals began in 1881 when dry-good merchants in New York were discontent with their experience with other insurers in covering their buildings. [2] The store owners believed that they had well-maintained buildings and were being overcharged by risk rating methodologies used by insurers at the time.
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